4 Home Computer Business Ideas You Should Consider
No commentsBy Mal Keenan
The internet has changed the lives of consumers. As the internet and the use of computers become more pervasive in modern society, more opportunities have arisen for entrepreneurs. There are several ways to start a home computer business. Let’s examine the various ways you can supplement your income with a home computer business.
Home Computer Business Idea No.1 Online Retail
If you make handicrafts or if you have physical inventory to sell, you could consider becoming an online retailer. There are many ways to sell your product online. Ebay is one of the most widely used new media platforms that retailers leverage upon.
If you can offer products at competitive prices or if you have rare commodities for sale, you can consider becoming an online retailer.
Home Computer Business Idea No. 2 Freelance Web Designer
There’s a great deal of demand for web designers. There is a large market of consumers who are looking to create or revamp their websites without having to hire a permanent web designer.
Some students of web design take on jobs on a part time basis. The nature of the work allows them to work from home. Web design can be a profitable area of work if you are able to position yourself correctly and make the correct contacts.
Home Computer Business Idea No. 3 Freelance Writer
There are many companies looking for freelance writers. A large majority of magazines rely upon freelance writers. If you are a strong writer, you can try sending samples of your work to magazines and websites you are interested in.
Should that fail, there are several websites that act a as matchmakers for businesses and freelance writers. This gives you the opportunity to select the types of jobs you want.
Home Computer Business Idea No. 4 Surveys
Participating in online surveys is an excellent way of making money. There are many companies that are trying to conduct market research. However, it can be expensive to hire a company to conduct marketing research. Therefore, these companies are willing to cut cost and pay consumers directly for their feedback.
Participating in online surveys is simple and can be accomplished by anyone who has a computer and access to the internet. It also requires very little commitment. The amount of money you make depends on how much work you do. There is no minimum amount of work that needs to be done.
There has never been a better time to start a home business to supplement your income. The power of the internet allows consumers to reach a global audience. The medium of the internet also allows for powerful messages that can leave a strong impact on your consumer.
There are many ways to start a home computer business. Even if you have negligible technical knowledge when it comes to computing, there are still many opportunities to make money using the internet. Unfortunately, there are many ‘guides’ that are actually scams in disguise. Before embarking on your home-based venture, it is essential that you conduct the appropriate research and refer to established, trustworthy guides for the best results.
Click Here Now to download a free copy of my 30 Page Work at Home Business Success Report outlining my personal steps to a six figure online income.
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Investing Full-Time is Overrated
By Alan Brymer
At any rate, I’ve met a lot of investors who are itching to get to the point where they are making enough money in real estate that they can quit their 9 to 5 and invest full-time. This seems like the American Dream, but I will play Devil’s Advocate and be the one guy to point out the less glamorous side of investing full-time:
1) Living off your investments is not the same as retiring early. I’m all for retiring early, but real estate is an active investment. It has been described as a second job. It refer to it as running a business. It can be a very lucrative business, but for the most part it is going to require time and effort to stay on top of things. And in many ways, running a business is more stressful, with more responsibilities, risks, and obligations than having a job.
2) Say goodbye to any and all job benefits. Because I am self-employed, I had to pay cold hard cash each time we had a baby, about $5000-6000 each time, in addition to our regular monthly insurance premiums. What a joke! Our health insurance did not pay for a daggone thing. Meanwhile, my sister and everyone around me paid $25 here, $30 there for doctor’s office co-pays, and nothing more. The echoes of my grinding teeth can still be heard in distant parts of the earth.
Now, of course, if your business is making money hand over fist, you might think $5000 here and there is no big deal, but I can virtually guarantee that these kinds of bills will come due on a month when you’re running low on funds, waiting an eternity for some buyer to finally get qualified.
3) Are you doing what you love with your time? Are you going to invest full-time because you love investing, or because you want to make more money? If the answer is “more money,” I challenge you to be true to yourself, and find a way to make more money in real estate part-time, and do what you love most of the day.
If you work smart, you can make enough money in real estate in a few hours each week to supplement even a low-paying job, like teaching school. Remember, real estate is just a way to have more of what you want in life. So what do you want?
4) Real estate is a cash monster. Investing requires cash-and lots of it. It doesn’t have to be yours, but it still has to come from somewhere. Few investors who don’t have enough private funds available can resist the temptation to use their own cash to do a deal. This is the beginning of the end.
No one will lend you money to pay your own bills, or your team, or your advertising, and every investor I’ve seen who starts using his own funds eventually runs out-especially those who sell houses by doing lease/options. It is an industry where unexpected surprises come along that tie up or cost us thousands at a time ($5,000 to clean up after a tenant here, $5,000 reduction in price when selling in order to make the deal work there).
It makes sense for a lot of people to work for their own income and let their investments compound and grow on their own, untouched. If you’ve ever read Mark Haroldsen’s book Financial Genius, he tells a good story that emphasizes the shame that goes along with “dipping into your capital” for personal use. Whether you subscribe to that belief or not is up to you, but he does make a good point (unless of course you make many times more by working on real estate full-time).
5) How good are you at finding motivated sellers? How consistently have you been finding deals up until now? I have seen a few investors strike it big with one great deal, quit their jobs, and then fail to find more deals consistently and flounder as a result. This is why I’m not big on the Leave Your Doofus Boss in Only 90 Days philosophy. One or two deals does not a business owner make.
If I had a wife and kids to feed and were considering the jump from part-time to full-time, I’d make very certain that I’m 100% capable of finding at least one deal per month, having done it consistently for at least a year first.
6) Do you really have enough to do for 8 hours per day? Ron Legrand said once, “If you can’t make money part-time, you can’t make money full-time.” Working part-time forces you to stay sharp and manage your time well. You are forced to delegate, because there is just not enough time in the day to try to do it all yourself. You use your time wisely and do more deals in less time.
I have seen a lot of full-time investors get stuck doing things like fixing up houses themselves, driving around looking for junkers, etc, because they figure “I’ve got the time.” If that’s what you truly enjoy doing with your life, then great.
If not, may I suggest a third alternative: Invest in real estate part-time until you can run your business successfully in just 1-2 hours per day. Then, if you are determined to do it full-time, but are happy with the income your are already making, then do it full-time but continue to work on it for only 1-2 hours per day. What should you do with the rest of the day? Whatever the heck YOU want to do with your life.
Alan Brymer is has been a full-time investor since his first property at the age of 22, His investment company was named by the Utah Valley Entrepreneurial Forum as one of the “Top 25 Companies Under Five Years Old.” Alan is also a frequent guest expert for the news media, having been featured on multiple television programs and magazines as a real estate expert. To read more of Alan’s articles and blog, go to www.AlanBrymer.com”>www.AlanBrymer.com.
Saturday, August 30th, 2008 at 9:20 pm and is filed under business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
