Unless you’re living under a rock, you are probably like millions upon millions of others trying to make ends meet every month as you navigate through the challenges of today’s economy. While inflation is obvious to all every time you go to the grocery store, it’s also becoming more and more evident that a recession is right around the corner. For example, just take a look at all of the tech jobs lost in just the last few months:
- Microsoft: 10,000
- Meta (Facebook): 10,000
- Twitter: estimated nearly 80% of employees since Musk’s control
- Amazon: 18,000 late last year and 9,000 more just announced
- Salesforce: 10% (7,000) employees
- Yahoo: 20% of workforce
- Disney: 7,000
Now we could goo on and on, but you should be getting the point. Additionally, most of these jobs were “high quality”. In other words, if you are one of the unlucky ones, you will have a hard time replaces your income by scoring a job at McDonalds or Wendys. The reality is, all of these individuals could be more comfortable if they had some home-based side business. DO NOT WAIT UNTIL IT’S TOO LATE.
How to Select a Great Home Business and Opportunity
Almost anyone can launch a profitable home-based business. You just need to get off the couch and get start started. You will need to do some research and then make a few decisions and below are a few ideas that can help you make a profitable decision from day one.
Determine If Your Idea Makes Sense for You
There are hundreds of great ideas for “multiple income stream” home businesses. The question is…is this idea right for you. For example, is a Handyman Gutter Cleaning Service or Roof Pressure Cleaning Service a good business for you if you are terrified of heights? Well, probably not. Is becoming a small business bookkeeper a good direction if you have minimal math or accounting experience? Again…probably not. So the first question is “does creating this additional revenue stream require physical skills or experience you do not have. If it does make sense, then it’s probably just a matter of looking at the resources required (costs) associated with your business launch. Do you have the capital?
Explore Your Passions and Hobbies as a Business
It is always a GREAT idea if you have a job that you love coming to every day. In fact, one of the keys to a successful career is when a hobby becomes your job so if you’re looking for greater job satisfaction, consider turning a hobby into your career. Doing what you love to do can make your workday much more enjoyable and what a great way to create an income stream and there are all types of hobbies that can open the doors to a money making home-based business. Typical along the3se lines are “Craft Businesses” such as a Gift Basket Business, an Aromatherapy and Soaps Online Store, become a Baking Coach, become a Cricut Mug Maker and a this list goes on and on. So if you are consumed about a hobby, then explore the options you can employ to turn that hobby into a passive income stream.
Learn All About Affiliate Marketing and Open a Store
Many home-based opportunities do require you to have some related skills. Others, however, do not. And one of the most exciting and profitable ventures that anyone (and we mean anyone) can launch is an online store or blog featuring affiliate products and it’s really this simple. You costs for these opportunity are literally minimal. You need…
- an idea for your store
- buy a Domain
- buy some website hosting
- explore the tens of thousands of product you can offer
- set up your online store
- earn commissions on every sale from your website
One of the easiest and most profitable home-based affiliate stores o set up is one that features products found on Amazon.om. Anyone can become an Amazon Affiliate so getting started is a snap. And anytime anyone comes to your website or blog and reads you review of a product and clicks your personal link to Amazon to purchase and buys…YOU MAKE A COMMISSION. It is really that easy and you can be up and running with a WordPress website, domain, and website hosting in under $50.
Affiliate marketing is an obvious stand alone business option but offering affiliate products is a SECOND income stream as well. For example, if you started a pet sitting or dog walking service for as your primary side job, could you also offer affiliate marketing products from your website for pets as well? Could offer toys, food, grooming tools, beds, cages, collars, books, etc. Well of course you could. And there is literally no end to the products you can offer and earn commissions from.
Investigate Your Physical Space and Needs for a Business
One of the most important decisions when your choosing a home business is research on physical space and operational needs. Many online business opportunities need nothing more than a computer (lap top or desk top), an internet connection, and perhaps some software and you’re ready to go. For other home businesses, such as launching a gift basket business, you will need at least a room or two for inventory. To launch an auto detailing business, you will need a garage and the larger the better. Becoming a personal concierge, personal chef, mobile makeup artist? If one of those, you will likely need an SUV style vehicle. Make sure you research the business you are exploring and one of the best methods of doing just that is visiting Amazon.com, and selecting one or two of the titles available for your choice of business opportunity. Most titles are now available as Kindle so if you own a Kindle reader or Amazon Fire, you can be researching your new home-based income stream within minutes of finishing this article.