We’ve all had enough of the schemes and scams. Just because you are running your business out of the comfort of your home doesn’t mean it needs to be any less legitimate and profitable as any brick and mortar business – with a lot less investment. Here are the top five ways of how to start a home business that won’t drive you broke before you make a profit.1) Internet Affiliate Marketing Programs
All you need is a blog or website to get started. There are virtually unlimited companies that offer affiliate programs. They typically provide you with a special link to their product or service that contains a unique code. You use this link to advertise the product on your own site, at internet communities, and on social networks. You receive a percentage of the profits generated from clicks on your special link. It’s as simple as that, and the profit potential can be significant if you are successful in driving traffic – earning this method the number one spot in how to start a home business.2) Drop Ship Retail Programs
This business model is similar to the affiliate program in that you are essentially selling someone else’s product. It is, however, a bit more involved. You will need a storefront or warehouse of some kind. There are a few free services available, and many low-cost options. With drop shipping, you advertise the product on your website. Your also complete the sale and collect the payment. This means you will need a secure payment system; again there are a few low or no cost options. Once a customer places an order on your site, you then place the order with your supplier. It is shipped directly from the supplier to the customer.3) Sell Custom Made Items
While this can be one of the most successful ideas on how to start a home business, it is reserved for those with a special skill or trade. If you make anything by hand (of professional quality) you may be able to turn your hobby into a business. This will require the same store front and payment option considerations as drop shipping. It will also entail the extra expenses of purchasing supplies and shipping the completed product. The greatest advantage to this option is that you may be able to earn a living doing what you love.4) Start a Consultation Service
While this may sound like an unlikely option, everyone is looking for a little advice these days. Do you have any strong skills in business management, financial planning, or even obscure fields such as home decorating or auto mechanics? This can be another effective means of how to start a home business largely due to the scalability. Knowledge lives in your head. Therefore there is no inventory to maintain or network to establish. You are ready to supply one hundred customers before you even have one. This is the kind of business that can begin as a sideline and grow with you.5) Provide Virtual Office Services
This is an increasingly popular field. While many companies are hiring full-time virtual assistants, many more are just looking for a little help. They don’t want the hassle of payroll, hiring, and firing just to have someone take care of their email or provide live chat on weekends. One of the increasingly popular ways to start a home business involves providing these services to small and mid-sized companies who don’t want a full-time employee. You act as a private contractor rather than an employee.
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