5 Tips for Risk-Free Home Based Business Start-up

 Even if they are clear and they have a specific plan, they still have to figure out how to eliminate all the risks that appear when trying to run a new business. Because starting up a Business – even if it is based in your own home – means a great investment on money and time with undefined return… and it also means… a lot of great expectations that can cause great pain if finally they don’t get realized properly, positively and correctly. So, if you want to start your business from home and you are one of these mothers who are concerned, should they do it, or should they not; I would tell you: DO IT… but eliminate to the minimum all kinds of risks, so you won’t find yourself disappointed, overworking… or even worse, bankrupt. 

 Here are my 5 Golden Tips so that you will be able to Start-up your business effortlessly, and with no risk at all.

#1- Test your business and idea before you have taxes and Book-keeping:

Many women who want to start their business from home are skeptical on how to handle taxes, books, etc. What I suggest is to turn to a friend who does almost the same job with you and ask if he/she can support you for a while by writing receipts to your clients on your behalf. Obviously, you will have to pay to this person the taxes that concern your sold products or services. Only after you have everything set up and rolling, and you are sure that you want to work on your HBB for a long time, should you find an accountant who specializes in Home Based Businesses, or freelancers and Startup your Business Officially.

#2- Make Meetings with clients Look professional, even if you don’t have a proper professional office:

Probably you are planning to create a special – separated place in your home for your business, but this might need some money and money will obviously come after you start working and earning. So, for a little while don’t rush to bring your clients into your home.

• Go to their place for your first meetings (this is something they appreciate enormously)

• Meet them at a quiet Coffee Shop.

• Arrange a "Skype", "zoom" or "Facebook messenger" appointment.

It is probable that those three ideas will be so convenient to you that you might keep on practicing them even after your home office is ready and appears professional.

#3- Eliminate the Costs of Equipment:

To start-up, you will need a computer and sometimes more equipment, such as video cameras, photo cameras, printers, sewing machine, pottery wheel… or whatever else your expertise demands. So, if you can’t afford to pay them upfront what do you do? You rent or borrow or buy second hand! Indeed, you can rent any equipment, from furniture: desks, boards, chairs, etc., to any machinery. Keyword and Google what you need. You will be amazed at what you can find at an astonishingly low price if you are willing to rent or to buy second hand.

#4- Avoid Stock Products - Do not Stock - Sell first and then create!

There are 5 ways to achieve this:

• The best way to do this is to sell services, such as web design, graphic design, Illustration, Life Coaching, Accounting advice and support, Healing or Therapy, Education, etc. So, won’t be working if you are not being paid, and you will always get a deposit for materials and some of your working hours.

• The second best way is to work as an Affiliate, meaning, to find goods online, through Amazon, eBay, JVZoo, Clickbank or other sites of this kind and to promote them through your website, through your social media or directly to your clients. If the term “affiliate marketing” sounds Greek to you, let me tell you a couple of things about how it works: You find a product online that you like and you want to promote. You contact the owner, and the owner gives you a personal link that goes to the sales page. Whatever transaction happens through your link, gives you back a percentage of money. You don’t have to do anything else than promoting the product with your link. You do not have to pack, send, or sell anything; just direct your friends and followers to the product’s sales page. Cool, isn’t it? This strategy can work perfectly with both physical goods and digital products.

• The third way is to do MLM. Amway, Forever and Avon are MLM companies just to name a few. If you like selling, MLM marketing is ideal for you, because you will be promoting goods that are already known for their good quality and you will be ordering them only after you have made a sell. To be successful in MLM though needs a lot more work, effort and focus than the MLMers will tell you it does. You will have to meet often and regularly with prospect clients, you will have to be good at selling, (I wrote this twice already in case your MLM advisor told you otherwise), and you will also have to be good in motivating other people to become MLMers as well because you will be selling not only the products but the entire MLM business, network and way of life.
• In addition you may sell print on demand products, like the products I sell here on this website. All the products exist as digital files on companies I work with, and once a client orders, only then the company produces this single item and sends it to the client. So, once a client has paid, only then the factory creates the item. That is a 100% risk free way of working.
• Finally a great way to promote merchant is to host on your website drop shipping merchants. Most merchants of that kind are based in China, on different factories that you can find through aliexpress here:  https://www.aliexpress.com   or internationally in all Amazon shops. You may apply as an Amazon-Associate here https://affiliate-program.amazon.com, and start promoting Amazon.com products for a very good commission .

#5- Make sure your business provides you with steady monthly income:

It is obvious that at the beginning of your new business career you won’t be earning as much as you need to enjoy a good lifestyle. So, if you are working for someone else, don’t quit your job before you are totally sure your business brings as much money as you are already earning now – steadily. How will you achieve this?

• Network with professionals that serve your target group or Niche, but they promote something slightly different. For example, if you are a math teacher, network with bookstore owners, with English Teachers, with kids’ or Teens’ clothing shops, etc. Arrange with them that you will be promoting their business to your clients as long as they do the same for you.

• Collaborate with big companies that have a steady stream of work. Let’s say you are a graphic designer. You will turn to Advertising companies, Publishing houses or Web design productions and you will arrange steadily working for them – from a distance. In that way, you can collaborate with many different companies and achieve a great stream of work fast, without having to go out and search for clients on your own.

• Get Salespeople, Affiliate Marketers or Managers to promote you. With this strategy, you will be paying those people a percentage of the sales they manage for you. You can cooperate with more than one sales person and with hundreds of Affiliate Marketers if you want.

So, again, make sure you earn a steady income before you open yourself, your business and your wallet to greater and more ambitious adventures concerning your career and your Home Based Business.

If you want to become a successful Home-based Entrepreneur, follow the ideas discussed here. They are all tried and tested. They are also used by my coaching clients who have achieved economic independence. Working from home is a great adventure, it can become exciting and inspiring, it can provide you with feelings of joy, freedom, and success, it can help you live the life you want: to raise your kids and still earn a really good income, but… it lurks a lot of risks. Be proactive, and all the risks will be eliminated to the minimum so that your success is guaranteed.

Please, Comment below. What has been your greatest fear when it comes to starting-up your own home based business?