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Friday, January 26, 2007

The Top 10 Ways to Earn Money at Home

he million-dollar question that confronts every would-be entrepreneur is: What kind of business can I start? Here are the top ten ways to earn huge income while working at home.

You do not have to read many success stories before you start wishing you could work for yourself. The opportunity to be your own boss and the potential for high income are enough to entice us to venture on our own.?But what can you do? What kind of business would you be suitable to start? We have compiled the top 10 ways to earn money at home, enough to be a full-time self-employed businessperson!

1. Antiques

The buying and selling of antiques has been and should continue to be a very productive business, financially, for those that do it.Here, you only need an extra room in the house, or the use of your garage -- and you have an office!?If you have a large home that has some antique furnishings, you might consider turning it into a showroom for your antique acquisitions and sales, providing you satisfy?any local zoning regulations. The interest in antiques will survive into the foreseeable future.?Many people choose to spend their free time on the weekends "antiquating" from place to place to try and pick up a few odds or ends and maybe a jewel or two.?If you know anything about antiques, this may be a great opportunity for you.

2. Baking

Have you ever been told that you have a recipe that people would line up to get if they could??Ever had anyone tell you that you should be selling those cupcakes you make??
There are a number of success stories about people who have launched successful businesses by cooking at home and then marketing to local people first. You may specialize in on just one well-tried and tested food product; or you may innovate on a product that you created yourself and which has never been marketed before. Having perfected the recipe you then turn to packaging and marketing. Word of mouth on a good product may start to get restaurants or bakeries interested in acquiring your culinary masterpieces.?Then you progress to selling them statewide and you're on your way to a profitable home-based business.?

3. Bed-and-Breakfast Proprietors

Have you ever stayed in a bed and breakfast and thought, "Hey, I can do this!" You probably went on vacation and simply chalked your thought up as one of those pipedreams one gets when they stay in a beautiful spot. Don't toss that thought away!?While it's not easy work as the hours can be long and it's usually a seven days per week business, it's often something that you can work into a daily schedule.?After all, it's merely an extension of doing the housework for family, right? More and more Americans are taking after Europeans and opening their homes to travelers.?

If you have an extra room or two since the kids moved out, you can start a bed and breakfast in your own place! Bed and breakfast popularity will continue as more and more vacationers and business travelers seek a different accommodation away from the predictability of the average hotel room.?If they enjoy their stay, many become "repeat" customers, coming back to the same familiar surroundings time and again.

If you don't need to do any major renovations in the house to accommodate this type of establishment, you can be off and running with very little money invested, other than advertising and some new "guest room supplies".?If your dream is to buy a bed and breakfast somewhere in a vacation paradise, there are probably houses for sale that will work for this purpose.

4. Childcare

Due to the financial pressures faced by many families today, parents work outside of the home to bring in enough income to pay daily living expenses.?A single parent is obviously working but all too often, both members of a two-parent family are in the workforce. This creates a home-based opportunity.?Children must be watched, all day if they're not in school, or, otherwise, for a brief time after school before the parents finish work for the day.?Most parents want their children immersed in a more stimulating environment than is usual with the average babysitter. You can begin small at home, offering a more stimulating and educational environment setting for client children.

Caring for one additional child may not be that lucrative, but taking care of several children can certainly be a full-time, financially successful business.?Often, taking care of several children is made somewhat easier as the youngsters often will play together. You can do this at home for only a small investment in basic equipment and toys for the kids in addition to the advertising of your business.?

5. Computer Specialist
The advent of the computer age has changed the concept of self-employment.?Having a computer at home has opened a number of opportunities for running your own business utilizing this equipment.?Companies everywhere are "outsourcing" work that can be done by someone else on their computer, out of their own home.

If you are a whiz in computers, you may end up working as a consultant, writing programs for companies.?If you are a beginner, you may find yourself able to obtain work as a writer, using your computer to produce copy that is easy to edit.?You can also keep accounting and payroll records for companies on your computer's database.

Word processing software can be used not only for writers but for those that can offer secretarial services out of their house.?Desktop publishing software can allow you to do newsletters for businesses and other organizations. If you can operate a computer, you can find work in the information age today.

Of course, the advent of the Web has opened a lot of business opportunities for the enterprising individuals. If you have skills in lay-outing and graphic design, you can be a website designer. Website designers earn significant amounts of money nowadays.?

6. Gardening
If you like working in your garden each year , it's a definite possibility for home-based employment.?Imagine clearing a little more space and growing more items that you can sell directly to the consumer. You can produce vegetables, bedding plants, bonzai tree, exotic plants, flower trees, herb, house plants, landscaping plants, orchids and many more.

Most produce stands will buy from you if your product is one of high quality.?If you enjoy gardening, this could be your ticket!?If you have some more land to use, do it! Plant what you can, when you can!?Contact your local produce stands to ascertain their buying habits.
You can even inquire about your own produce stand if you have enough product.?The more space you have on your land, the more likely you will be able to generate enough crops to run the business. People love homegrown vegetables.?They just do not have the time or want to be bothered doing it themselves.?That is your open door!

You can also engage in selling other gardening products and supplies such as compost, earthworms, herb boxes, beneficial bugs, or drip irrigation systems.

7. Importer and Distributor

There are a substantial number of products manufactured in other countries that can be bought inexpensively and sold in your country at a profitable level.?The Government and the formation of international trade organizations have made it easier to bring in other products from other countries.?This is a business easily operated out of the home, depending on the types of stock you're carrying.?You may have to rent some storage space, but the capital required to start should essentially be limited to the products you're buying to sell here.

If you know the type of product you want to import and the market most likely to purchase your goods, you have great potential for a successful home-based business.

8. Interior Decorator

Interior decorating is a business that will require you to be mobile, constantly meeting with customers.?It offers flexible hours, a good variety of activities, and a very lucrative return. If you have a fascination for decorating a home, this could be your line of work. Many people do not know where to start when they are remodeling or buying a house for the first time.?If you have the knowledge of colors and patterns and what looks good together, plus the expertise of knowing where to get materials and furnishings, this can be a winning home-based business for you. To be able to decorate a room so that it conveys the mood that?the homeowner wishes will be your goal. Strive for the skillful, personal touch in all you design.

9. Photographer
The sky is the limit here!?Armed with your trusty camera and some good advertising, you can do weddings, models, family portraits, passports, student photos, local newspaper coverage; almost anything that requires a picture!?

You can easily start this work, part-time, and work into full-time work based on your success and inclination.?Not much equipment is necessary to get going as a camera off the store shelf can often do the trick today.?Picking up a tripod and having a room sufficient for developing your pictures, and you're in business -- at home!

10. Sewing and Alterations

Many people love to sew.?If you are one of them, consider offering this service out of your home.?When someone buys a new outfit, it rarely fits perfectly, meaning some kind of alteration must be done. People look long and hard to find reliable individuals to do their alterations.?If you can sew, you are well on your way to opening the doors of this type of business.

Internet Money Making Principles

I have seen a lot of interest lately with making money on the web, from frustration to hint dropping from those who have had success. Thought I would throw out a few principles I follow regularly to help clear away a bit of the enigma of becoming profitable on the web.

1) Distinct products or services. Everything sold can usually fall into these two categories. Services might be web design, web hosting, consulting, etc. Products are self explanatory. Products are the way to make big $ but may be harder to get going at first and have risk unless demand for the product has already been proven or carefully researched. Either way, you must differentiate yourself from the competition, not merely copy. Copycats have a hard time wrestling away consumers from already established businesses. It is harder to get a customer intially than keep them. If you have no competition, you must set and keep the standard with your company. Just because you don't have competition now doesn't mean you won't have it within a few months.

2) Understand margins. A margin is the amount of product expense verses profit. If it costs you $10 to make and ship a t-shirt and you sell it for $15, you have a $5 margin. Low margin items require a very high volume to make money. High margin items require much less traffic but depending on the price of the item, may require more skill in getting people to part with their cash. Low retail price products with high margins are gold. Next time you get spammed over and over again by a certain product, think about why they are marketing it so aggressively.

3) Understanding markets. Competition is fierce in some categories (travel is a recent example).
Carve out a niche in a competitive market (i.e. target a city, region, or state) for more viable results. Low-competition markets (new or emerging markets) require you to set your own boundaries. How broad or narrow will depend on your goals and viability of servicing an audience and staying on top in that market.

4) Spend the most time on the most profitable ventures. If you are confident you have spent ample time on a market and the money isn;t there, don't be afraid to walk away or put the project on hold. Don't beat a dead is dead. On the other hand, if you tap into a vein that is producing very promising income, milk it for all it is worth and don't get distracted by other potential ventures.

5) Diversification. Once you have found an income stream you can tap into, you can't expect to last forever. Like a good stock portfolio, you shouldn't put all your eggs in one basket. Minimize risk through diversification. Multiple revenue streams, multiple products, multiple services, multiple businesses...whatever. Dont' overdiversify beyond what you can handle. Leave enough time to sufficiently develop promising current projects.

Making money on the Web

Earn money while displaying advertisements on your Website. When visitors click on these ads, Google pays you. Along with targeted advertising for your content pages, you can add a Google search box to your site and show targeted ads on search results pages.