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Starting a Home Based Internet Business: Hazards and Considerations

By Edited Nov 13, 2013 1 2

 

Making money from home is a thought that invariably enters almost everybody’s minds. “Work from home” is an enticing and illusionary phrase. It gives the impression that you can work as little or in whatever hours you like and you’d earn money. In short, the make money from home concept is a promise that doesn’t always pay as well as imagined. Here we will learn how to deal with the pitfalls and hazards of committing yourself to a home based internet business for a full time living.

Many people, especially women, who have children and a house to take care of, often feel the need to set their own hours. In theory it’s a great concept. Setting up a business of your own and work on your terms is something every entrepreneur starts off with. The motivators may be different. Some people may be short of time, while some may even be making a radical change in their life by giving up their day jobs to pursue their dreams. So, it is of importance that anybody who decides to take the plunge into the home based internet business  pool takes into consideration certain basic questions.

1.       Do you have a backup plan?

Ever heard of not putting all your eggs in one basket? Well, let’s just say that you shouldn’t let the novelty of the home based business idea take over your more practical part of mind. In case you are the primary earner for your family, you should consider the family expenses before going all out o start the home based internet business and leaving your regular job. Chances are that you may fail at your first few attempts and it won’t be nice to have several unpaid bills staring you in the face while you figure out how to squeeze through the month. If needed, you can maybe switch to a part time job so you can have the best of both worlds.

2.       Do you have any savings?

Again, let’s get practical. You won’t expect that you’ll start making money from the word go. If you do, well then good for you, but most start up ventures fail (at least in their first attempts). If you have something stashed away in the form of savings, everyday expenses and emergency requirements will be easier to meet and they will not bear down your creative juices while you figure out how to get your home based internet business on its feet.

3.       Do you have a plan?

The thought of having a comfy home based internet business is cool. You work in your own time and on your own terms. You have no boss to answer too and in theory, you can earn as much as you want. Is that the extent of what you have thought about your home based business? Most work at home opportunities come with riders. Though they aren’t something insurmountable, it’s always advisable to have a practical idea of what you are getting into. A plan of what kind of business you are going to start or run, and a plan of how much time and money need to be invested is something you should always have chalked out before you start any home based business.

4.       Be ready for failures.

Most first time ventures fail first … before they actually have any chance of succeeding. Without getting disheartened by the possible thought of failure, it makes sense to face the possibility of failure. It doesn’t mean that one should think that failure is imminent, only that failure is often the first step towards success and often, it’s as important to brace failure with your full heart as it is to start off the venture with a positive and unbeatable mindset. Ask any great achiever, anyone who’s achieved anything in life has faced several failures before successes. Only that, when they fell they just had the grit and determination to dust themselves off and start walking again .. a little bruised and wee bit tired, but all the more determined.

5.       Watch out for scams.

Probably the first advice I should have given for any internet based business.  It’s pure common sense but it’s the most common pitfall for internet entrepreneurs.  There are SO many people out there on the web who are offering this and that. Well, they may as well sell the moon for all they care and their primary target is the unsuspecting newbie. They will offer you home based jobs and miracle money makers and automated cash machines which will, more often than not, will not fetch you even a dime. What you can do? Research. If you feel something is too good to be true, it actually is. If you find that they are offering to pay you handsomely for no (or a few minutes/hours of work), it’s almost always a scam. Internet is your friend and you can even find their scamming history pasted all across the web if you look closely enough. Just keep your eyes open and you’ll be fine.

 

That’s practically all I wanted to say in this particular article. Though there would be a hundred other tips for any newbie to a business, these five points above pretty much cover the most important and basic points. Read up a lot about the net, its ways, dos and don’ts and the various ways of doing business and receiving and sending money. Another thing that’s of paramount importance is to know and research the legality of whatever you are doing. Whether it entails anything illegal and whether it’s allowed in your own particular country. Internet is a hotspot for people from all over the world and it’s advisable to keep in mind certain basic internet etiquettes before you start interacting with people.

Remember, common sense first, hard work next … and lots of persistence. These are the three pillars of starting and maintaining a home based internet business.

Hope you enjoyed this article and there were certain takeaways for everybody here. Next, I will plan an article about the tips of succeeding at a home based internet business.


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Comments

Mar 3, 2012 8:38pm
eileen
Good information for those contemplating starting a home business. The hardest part of running a home business is the fact that if you do not work there is no money. No holiday pay, no sick pay.
Plus it is hard to convince your friends not to keep popping in for a coffee. Working from home means work not time spent with friends chatting.
You have to be strong and use good time management skills to keep on track.
Mar 4, 2012 2:24am
Talat
Yes eileen, IMO too the hardest part of working from home (whether for a job or for a home based business) is getting people out of the way. More so for a home based business where you will often find it hard to explain to people that you are "working" as against fulfilling some hobby or filling empty hours. Many people will be offended ... and very importantly it's really really difficult to keep children especially toddlers out of your hair for any decent amount of time. Well, I guess it's just part and parcel of the game :) Thanks for reading my article and commenting.
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