My favourite home business model for 2018

Feb 7, 2018

When it comes to the choices for running a home business, there are more choices than ever in 2018.  Learn which my top home business is, and why.

 

Crypto currencies created a storm late last year, and early this year, rising thousands of percent in value, and inspiring home business owners to get into many different crypto currency related business, from mining, arbitrage trading, becoming lenders, etc.

 

From this one development alone – hundreds of new home based businesses opportunities were created.

 

Contrast this to the early 2000s, when home based business opportunities were typically network marketing based, or providing contract work services.

 

Given the massive number of opportunities available to potential home business owners, how does one choose?

 

First, I welcome the number of opportunities. If it were not for the vast number of opportunities available to start a business at almost no cost, and without need for venture funding, I would never have succeeded at starting a business completely from scratch.

 

The number of automation tools available in 2018, at a low cost, and with the ease of use that a lawyer of 20 years (me) could just jump in, makes it entirely possible to run a business completely from home, without a need for any employees at all.

 

For example, systems have made it possible for me to interact with my businesses prospects and customers over a million times a month – as a solopreneur – and that’s just in one of my businesses!

 

Having said all that, what do I think is the best home based business to start in 2018?

 

Hand to heart, I still think affiliate marketing is the best way to get a start – if done right. I hear a lot of things about how affiliate marketing does not work – and in fact, most people are shocked when they hear that the business that gave me my start was affiliate marketing.

 

The thing is, like any other business, affiliate marketing can be done wrong or right. Again, like most other businesses, the ones who succeed have done it right, and the rest, well… haven’t.

 

Why do I like affiliate marketing?

 

Let’s take a look at me as a case study:
– I had done nothing work as a corporate lawyer for 20 years from 1996 – 2016
– I had not many marketable skills outside the law
– I had no skills in selling or starting a business
– I had no skills in technology, and
– I had nothing to sell.

 

Most people would have written me off as someone who would go on to build a successful business in 6 short months.

 

But I did that, building an affiliate marketing business. And now, that is financing my building several other businesses.

 

So what is affiliate marketing?

 

It is the business of making recommendations, and getting paid for it. You don’t need anything to sell. You don’t need any special skills as long as you know how to try something, and to recommend the things that you like.

 

Imagine having tried a camera, or even a restaurant, and finding that you liked it. Would you recommend that to a friend? Of course you would! How good would it be if you got paid for that recommendation.

 

Now just add automation, which even I managed to do, and you could do this with scale and reach.

 

How can I use this to build other businesses?

 

One of the things that you learn to do while making these recommendations is to add value. You’re learning to add value to the product owner, you’re learning to add value to the people looking to purchase.

 

All businesses are about adding value. Money is just the by product of the value that you are adding.

 

So, whatever business you are getting into, be sure that it is something that adds value, because that is the only way that a business can be sustainable.

 

Ponzi schemes and the like do not add value – they just move money around – and that must certainly be a “red flag” if you’re looking to start a sustainable home business.

 

Once you’ve learnt to add value, you will start to see the numerous opportunities abound.

 

Everyone wants to work with someone who can add value to them. When I used to wonder how I would ever leave my legal work, I would be thinking of which of my friends or business associates I could work with to help me start a new business. Of course, not many people wanted to work with me. Fast forward 2 years, and I receive many proposals from people who want to start new businesses, with me.

 

You will also start to see inefficiencies in the sectors that you are working in. Any inefficiency is an opportunity for someone who can decrease the inefficiency by adding value.

 

I learnt all of this just by recommending products.

 

That said, the one thing that you must have to have credibility when recommending products is integrity.

 

If you’re a person of integrity you will succeed. The reason is simple, no one will trust a recommendation of someone who does not have integrity.

 

For me, integrity is very much a part of my personal values, and so, running a business in line with my values makes it sustainable, and in many ways effortless.

 

If you would like to work with me to start your home business, click here to submit your application today.

 

 


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