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So You’re Thinking About Starting An Internet Based Home Business

Maybe you hate your job. Maybe you’re tired of having to show up for that meeting where your boss talks about everything yet accomplishes nothing. Maybe you’re just trying to make extra cash for that vacation you’ve been wanting to take. Maybe you just want more time to spend with your loved ones.

Whatever the reason may be there’s a lot of money making opportunities out there. Making money from an internet based business certainly has its appeal. The main thing is that you can be location independent. It allows you to work anywhere and anytime you want. But like any business venture there’s plenty of things to consider and a lot of work ahead of you. So whether you’re new to the idea or just trying to organize your thoughts, the following should help you focus on a plan of action.

1) Take initiative – First things first. You need to be a self-starter. Have a positive mindset. This is more difficult than you think especially in the early stages of brainstorming, planning and researching. You will have to continuously motivate yourself to keep at it. Find something or someone to inspire you in a daily basis. Having a supportive circle of friends, family, and mentors (especially ones who are trying to accomplish the same thing as you) truly helps. At the very least take someone who has been successful in similar fields and study them, read their books, read their blogs: their work ethics, methods, etc.

2) Keep a business journal – get in the habit to carry it with you everywhere. Ideas pop up during the oddest of times. Start jotting them down. Ideas of things to put in your business journal: inspiring quotes, reading lists, short-term and long-term goals, notes pertaining to research.

3) Have a budget – Don’t go broke trying to launch a site or a product. It’s easy to get carried away with purchasing stuff such as office supplies, domain names, programs, books. Be realistic on how much you can afford. Put a cap on your business-related spending.

4) Set goals – Write these down in your journal. You should always have short-term goals and long-term goals. Short-term goals can simply be what you want to accomplish within that week or month. For example, launch a fully monetized blog with content in a couple of weeks. An example of a long-term goal: Earn an extra $300-500 per month to start off with. The more specific the goals are the better.

5) Schedule time for work – This is a tough one especially if you have a demanding full-time job. Set aside time solely for your special project. Either wake up a a couple of hours earlier or spend some time after work to do something to meet your short-term goals for the week. Learn to manage your time better. You can dedicate time to your ventures without sacrificing time with your spouse and/or kids. It’s all about getting in the right groove and finding your balance. This will teach you to better manage your time by eliminating distractions. If you only have 2 hours in the morning to spare then don’t spend an hour and a half checking site stats or e-mail.

6) Commit to one thing and follow through – Don’t spread yourself too thin. If you want to try affiliate marketing then do just that. If you’d rather try your hand at dropshipping then focus on that solely. If you want to sell stuff that you’ve made at Etsy then by all means go for it. There’s just way too much info out there to try to digest the ideas and how-to’s of multiple streams of income. It’s better to stick to one thing that truly interests you since you’ll be spending a lot of time with your special project. I understand it’s work but you’ve got to try to have fun with what you do.

7) Be proactive – No amount of preparation and research can get you anywhere if you don’t take action. So quit wondering if something will work and just try it. You’ll have to take risks along the way but preferably calculated risks. I liken this to someone walking into an electronics store to buy a DVD and impulsively spending $800 on an HD camcorder VS. someone who first did research on multiple products online before zeroing in on the final product. The second guy will more than likely end up with the better product, possibly even less expensive.

About the Author

Webpreneur, former corporate drone, blogger. I’m all about helping others to live their life in their own terms. You can read more at my blog: Kill Your Day Job Now. This is where I ramble on, give tips and advice, give free ebooks about making money online to those seeking to liberate themselves from the traditional 9-5.