Solving the Home Based Business Puzzle; how to Make Money at Home

Rants, Raves and Reviews: Home Based Business Ideas

2010-02-06T19:22:00.000-08:00

As a relative newbie to the internet, I wasted a lot of time and money on rabbit trails. One of the difficulties of making money online is the onslaught of so many distractions. How to find the best home based business was a puzzle. I found myself reading new emails (yes, I get a jillion a day) being intrigued by someones very well written pitches and before I knew I had another really great program to learn. All this did was deplete my bank account along creating a lot of frustration. I felt like the tar baby; just about the time I thought I had one program conquered, "splat" there was my hand stuck to the back of my head (metaphorically). At any rate I am going to pass on my experiences with the areas of potential income in online home based business opportunities.

Review of Surveys

The first area I approached because of lack of money was free surveys. At first glance it seemed to be a pretty good deal as many of them pay by clicking on their advertisers. The premise is that you accumulate income by visiting the sites they list and you will then get paid after reaching a certain minimum.

I found that many of the surveys had very low payments for the visit. I calculated the return on my time and I wouldn't even had made minimum wages. There were some big ones where you could "win" Wii's, televisions, computers and other big ticket items. Once won then you could sell them to earn your money. These looked pretty good to me until I "read the fine print". Each of them required either a purchase by you or someone you sent to the sites. If the prize was valuable then you would need to send 8-13 or more people to buy from the sites. There are even websites where people are willing to go to the survey for you for a fee so that you can complete the requirements of the surveys. Obviously that could cost as much as the prize. You could return the items or cancel the services but that didn't feel right to me. So I decided not to make surveys my online home based business model. Below is a list of the companies that I dealt with in case you would like to explore this facet of making money online.

http://www.arcamax.com/, http://www.mypoints.com/, http://www.globalsurvey.com/ , http://www.inbox.com/, these are the ones I like the best and you can find many more by doing a search on the major engines.

I am going to conclude this post with a review and rave on a program I am using.

A candid Review of Blogging To The Bank 2010

By now I think every one in the world knows about blogs. What most folks don’t know is

there is a great stream of income to be made as well, publishing free blogs.

Rob Benwell is only a mere 24 years old and has already made several million dollars. Early in 2006 he shared his secrets with the world in his highly successful Blogging To The Bank ebook and has made making money online a whole lot easier for everyone. Of course that's what we want in our 10 best home based businesses to do and make money online.

Just over two years after the success of his first book and after over 20,000 copies sold and then the 2007 2.0 update, he is now releasing his third version of Blogging to the Bank helping to sharpen our online skills and keep the income stream rolling in.

I got this book as soon as I could and it covers quite a lot of new information and techniques to adapt your blog to the new demands of the major search engines. Many of the techniques in the old book are now outdated and don’t work as well. This is why Blogging To The Bank 2010 is a welcome addition to our online arsenal. .

Rob is just an average guy who wants to help the little guys out. I find this a nice change as he doesn’t talk “down” to us as many of the "gurus" do.

He explains everything in a nice simple step by step manner so everyone can understand. Having said that, when he does “go off on a rabbit trail ” it may take a few reads to get it but when you do it’s just sheer genius. I would have preferred for some of the topics to have a bit more explanation but so many more went into great detail that it made up for the slight lack of information.

You also get his 5 Blogging Commandments For 2010 that if you follow it will permit your blogs the greatest success and keep them future proofed. Without a doubt these commandments should be printed out and become a standard for the online marketer!

His book starts off with market research (so that you are making the most of your time), and continues all the way to building your blogging empire.

Everything is covered in this new version that helps bloggers with todays online issues, putting the almighty

search engines on cloud nine.

Final Verdict: If you are out there in the blogging world and want to make money the straightforward way then I highly recommend Blogging To The Bank 2010.

Why work harder, work smarter by using Blogging to the Bank 2010 with all the new techniques ready for you to simply put into practice.

This concludes my posting for today and I will return in a day or two with further Rants, Raves and Reviews.

Anne Talbott Auburn CA 95602

Home based business. How to make money Online and Offline

2010-01-17T01:08:00.000-08:00

It can be difficult to decide where to put your efforts: Home Based Business online or Home Based Business offline. I am going to share experiences of both types and list the pros and cons of each. I was working as a bookkeeper for much of the time when I had part-time home based businesses as well.

First I will address the offline type of best home based business ideas based on 40 years experience in several different types. Because I had studied accounting I realized that the highest burden of taxes fell on the wage earner and that anyone who had a business had some tax advantages that wage earners didn't. I recommend that before you set out on any home based business opportunity whether an offline business or an online business that you sit down with an accountant or tax expert that can help you set up your business.

It has been my observation that most people who get into business may be expert at a particular process but that they don't understand or have knowledge in the infrastructure of business either at home or in a seperate business facility.

A W-2 wage earner is someone who has the fewest tax deductions. A person who operates a home based business has the same tax advantage as a big business or a person who has an outside office and many of your on going expenses can turn into tax deductions if you have a legitimate home based business idea. You must have intent to profit or it's considered a hobby.

Be mindful that an online home based business opportunity unlike W-2 earnings will require that you pay taxes on your net profit. How that happens depends on the structure you choose; Sole Proprietor, Partnership, LLC or S-Corporation or Corporation. Check with your tax professional about pros and cons of each type. If you are profitable you may need to make deposits with the IRS during the year before you file your tax returns. So that being said your net profit may not be all yours. There may be self employment tax at about 15% and what you owe on income tax. Remember also that if the home based business idea is your only source of income you will be responsible for health care, provisions for disability and so forth.   Consult with professionals before you start. Make the million dollars, not the million dollar mistake. You will have to pay for experience, either someone else's or your own which with learning curves could be expensive.   I am not trying to discourage you but prepare you for some of the issues that business owners face.

Consult with material from the IRS as well as a professional. I am not going to give you tax advice but suggest that you find a tax adviser who can help you start home based business properly. It is very important that you keep good records. Document everything, this is where a day planner is crucial. The five W's are important on your tax record, why you did it, who you did it with, when; the day and time of the activity, what transpired and the business reason you met and where the activity took place. This might take extra effort but it is essential in your record keeping. You can go to http://www.irs.gov/ and find periodicals covering what you need to do to have home based office as well as what constitutes a legimitate business venture and not just a hobby.

Find something that you are passionate about, that you know or that has ease of entry. There are many service industries that don't take a huge investment to get started but adapt well to home based business idea.  My husband and I have had a janitorial business and an online multi-level network marketing business. Our janitorial business eventually became full time and supported us for many years. We still have our marketing business and although the time invested is part time, the income is primary and retired as a W-2 wage earner in 1987. My husband was free as of 1991 due to the income stream from our marketing business. . I have had businesses in art, crafts, breeding horses, ice skating, bowling, sewing and now online in affiliate marketing. All of my businesses except janitorial, network marketing and affiliate marketing have started as hobbies and because I eventually became expert was able to start operating as a home based business.

My formula has always been to pursue my interest, get all the information as quickly as possible, invest in the best tools and teachers I could find and practice, practice and more practice. After a time I noticed that people around me were seeking advice and information and I realized that I could make money teaching as well as selling what I created. I then checked with http://www.irs.gov/ for guidelines on home office and set up my records accordlingly.

I also found that just because I was interested in something that not every one else is. It is very important to explore the market before you assume that you have a product or service that will sell. I have seen so many restaurants open up here in my community in the same building; there have been about 15 different ones in the 33 years I have lived here and yet one after the other, people continue to invest their lives, dreams and money in the same place and then a year or two later -- gone?   Anyway check online at Google and see through keyword searches what people are looking for.   If you do a search on your product or service and there are only a few pages on Google, you might want to rethink your position.

Well, that's all for now on this chapter in a home based business offline. Stay tuned for my next installment when I start talking about the good and the bad I have encountered in my search for a home based business
and how to develop money online. Rants and Raves on what I have already explored in online business that can become home based businesses.

Solving the Home Based Business Puzzle, How to make Money at Home, Online or Offline

2009-11-05T13:23:00.000-08:00

Why, When, Where, What and Who can be an Entrepreneur

Why a home based business and should it be online. How to make money and how to recognize an opportunity.

One of the most important factors in starting out is to determine why you might want to make money online or have a home based business. I have found that most people when they begin to get education are very focused on the "what to do". Even as children we are saying "when I grow up I want to be". I have found over the course of my lifetime that why you do anything is a critical 1st step.

Before you decide what to do, determine why you are choosing a particular field. Are you interested in only making money? Are you pursuing a passion and you don't really care whether you make a lot of money or not. When a person is young and doesn't have a family, maybe even still lives with parents, then that person is sometimes disinterested in how much revenue is available. That I would suggest will change when there are car payments, mortgages, medical and dental bills, savings for college, insurance etc etc. So having said that, perhaps the more you can earn from invested time the better.

I suggest that you drive around different neighborhoods and decide how you want to live. What kind of car or cars do you want to drive, do you want children or what kind of colleges do you want for the ones you already have? Do you want to travel to exotic places. Do both of you want to work. If you are a woman do you want to work after having children; do you mind if they go into "storage" otherwise known as baby sitters or daycare. We all have dreams and goals and want the finer things of life. So the 1st thing to do is identify why you are going to work and secondly what to do. Write out a list of activities that might turn into a part time at home based business.

Why work at home might be an advantage.

A W-2 wage earner is someone who has the fewest tax deductions. A person who operates a home based business has the same tax advantage as a big business or a person who has an outside office and many of your on going expenses can turn into tax deductions if you have a legitimate home based business. You must have intent to profit or it's considered a hobby.

Consult with material from the IRS as well as a professional. I am not going to give you tax advice but suggest that you find a tax adviser who can help you set up your home based business properly. It is very important that you keep good records. Document everything, this is where a day planner is crucial.

The five W's are important on your tax record, why you did it, who you did it with, when; the day and time of the activity, what transpired and the business reason you met and where the activity took place. This might take extra effort but it is essential to your record keeping. You can go to http://www.irs.gov/ and find periodicals covering what you need to do to have home based office as well as what constitutes a legimitate business venture and not just a hobby.

When and Where do you want to set up a home based business. The answer is ASAP; having said that you also want to be very prepared. Have a three "P" approach. Preparation, Planning and Persistence. Don't get so caught up in preparation however, that you don't take action at all. There is "analysis paralysis" where there is just too much information (TIM).

This is where planning and a systematic approach will be of benefit. How you prepare is going to depend on 1. how much capital you have. 2. Are you the expert or do you have to hire one. 3. Is this a home based business opportunity or an office away from home. 4. Does your business require employees? If so you will need an "EIN" employee identification number, booklets from the IRS and state you live in explaining an employers responsiblity.

If you are not trained in accounting or bookkeeping you might consider hiring one to at least set up your bookkeeping system and all the necessary licenses. An offline business has many factors even if it is a part time one. To have a tax benefit you will need to have an "intention to profit". My blog is not designed to cover all the myriad details required to operate a home based business. Just know you will be way ahead of the game if you understand how to read profit and loss and balance sheets.

Most businesses failures occur not because a person doesn't understand the process they chose i.e. a physician or attorney might set up a business but they need other professionals to run the infrastructure. The most expensive lesson will be caused by ignorance. So having gone through only a small number of requirements for business as usual outside the home, let's proceed to in home business opportunities.

In order to have a recognized home office deduction on your taxes, there are several required elements. You may again go online search the IRS site on home office deductions and follow it to the letter. The only suggestion I might make is for you to take photographs of the room you set aside showing that it is a exclusive area. Date the photo and mail it back to yourself "certified return receipt requested" and put the envelope away unopened in a safe place. If you do this every six months or so you will have proof of a genuine home office.

As far as bookkeeping goes there are a couple of software programs I like but remember I have 30 years experience as a bookkeeper as well as 2 years of accounting training so what looks easy to me may not be to you. I like Quicken for businesses as well as Quick Books Pro. Both of these link up with Turbo Tax if you are doing your own taxes. However depending on your expertise, a professional may be the least expensive way to go long term as the more complex your business the greater the need. I am not intending to be discouraging about setting up home based business opportunities, but being mindful of the details is critical to your long term success. There will be obstacles but persist and get professional help. One suggestion might be to check with local Senior Citizen organizations as they may have folks available to assist you for nominal fees.

Next posting will cover the what to do: Make Money Online, Make Money at Home, What constitutes a Business opportunity, Can you work from home and make money. Be succesful, reach your dreams and goals Review of what I've already tried and the results so far.

Business opportunities online depend on: Success Rule #1 Set Goals

2009-10-22T18:59:00.000-07:00

One of the elements I found that helped me in my home based businesses was a report that a major university tracked a class of graduates for 20 years that used goal setting. After 20 years, it was discovered that only 20% actually had a plan and only 5% of them had them written down. The major successes came to that 5% and it was determined that 85% of the wealth belonged to that 5%.

After hearing this statistic I immediately took an eight hour goal setting seminar with Franklin Covey, used their planners and systems and was amazed at the different results I had. Here are some of the discoveries I learned, but I would suggest that the best investment you might make is learning how to manage your time productively, whether you are starting a conventional home based business or an online one. In order to make money at home or make money online, organization of your events and time will be key elements to your success. Making choices for your activities every day will assure long term success in your home based business. Your dreams and goals can come true when they hold a high priority every day; when you have a strong why it overcomes the obstacles of the "how to".

Important tips on time management for home based business opportunities

First determine what you want. What are you willing to do and what are you willing to put on hold for a while. Most people only have a vague idea of where they want to go. Think not only short term, but where you want to be in 5 years, 10 years, 25 years and lifetime goals. You should be able to believe that you can accomplish these goals and something that stirs your emotions. Once you have thought about this go to the next step. This applies equally to offline or online businesses.
Second, everything should be written down (this is critical, do not skip this step). I use 3x5 cards. Write it down in vivid present tense detail. i.e. I am (your goal) at such and such a date. Once you have done that then do the following daily exercises. Because you work at home, discipline becomes even more important. Your daily tasks can be just as easy to do as not to do.
Third, read what you have written out to yourself silently and repeat for about 10 minutes.
Fourth, now read contents of your cards out loud and repeat until you have spent about 10 minutes in the process.
Fifth, dwell and spend time with your dreams and goals every day. "Whatever is planted in our subconscious mind and nourished with repetition and emotion, will one day become a reality." Imagine how you would feel if your dream was here today. I spend about 10 minutes a day in a quiet place and think about the result I want. See the end at the beginning.

This may seem an unimportant and simple exercise but this 30 minutes will implant your goals and dreams firmly in mind. Our actions always tell us what our belief systems are.

Unfortunately most of us have about a 90 to 1 ratio of negative to positive messages long before we have the guards up against unwanted programing We come into this world I believe, a blank slate, "Tabla Rasia" and then all the important people around us begin to influence our thought processes long before we can protect ourselves. For instance we are told over and over not to speak to strangers which is a great programing for children, however that thought applied to a person in marketing, a home based business, sales or management, might not be able to figure out why they are shy or have trouble with confidence and self esteem.

I am not suggesting that you go into psychoanalysis but having a very directed program of laying out new direction can overcome with time, a lot of the old thought patterns that hinder our successes whether it be a home based business or our jobs.

Now I know all of us talk about saving time, managing time and so forth, however it can't be done. We only have 24 hours no matter how you cut it. A minute once gone is gone forever, can't get it back so all we can do is prioritize and manage the events of our lives. It is critical to your success in home based businesses to have a written plan of action. If not we may spend our precious resource time on unimportant non essentials.

This is where a goal setting program and a planner comes into the picture. Most of us spend our time minoring in the majors and majoring in the minors. We need to spend our time in a productive manner to get the best results. I have a sign on my desk that says "I must do the most productive thing in every given moment".

This will require an examination of your daily task and deciding in view of your goals what takes the highest priority. Most people are still working at jobs or their businesses so that along with commuting is probably your 1st priority, but if you are chronically late for everything, you may have the calendar all of your daily schedule until you get on track. On that note there is some thought that being late is a form of rebellion against someone else's control. Have a "3 D" home based business; Dream, Determination, Discipline.

Once you have prioritized your tasks into A most important, B next in line, C after A-B's are done and then D's they are the least important on that day. Check each task off as it is accomplished and then reschedule any remainders for the next day. Always gauge priority in light of importance relating to your goals, which may not necessarily be urgent. An event may be both important and urgent but I have found that when you take the long view that sometimes the most important things aren't necessarily urgent. Sometimes our success is found in those small important but not urgent steps we take every day. I have discovered that being successful sometimes is simple and just as easy to do as not to do.

What happens when you don't want to do what is necessary try to remember Earl Nightingale's "Greatest Secret", "Successful and unsuccessful people both don't want to do the same things, but successful people are more interested in pleasing results than pleasing methods".

I hope, dear reader, that these thoughts and observations are of value to you in starting your home based business and I have posted a few links that will assist you in taking control of the events of your life. Bon Voyage and may you find many opportunities on your path to your goals and dreams. Stay tuned for next in the series; why, where, when, what and possibly who is an entrepreneur that has a home based business.