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Questions About Internet Marketing

Questions About Home-Based Business

QUESTION: "I have been desiring a home-based business for years (7) after having graduating from university with a degree in Psychology and in a degree in Spanish. I desire greatly to leave [my current job] to pursue my passion of operating a home-based business (preferably in advertising merchandise, bilingualism/Spanish, education and culturej). The dilemma is I need a web-based business to support my ventures (instead of security). I need your advice on how to begin generating money from my passions. Sincerely, T.

ANSWER: Hey T.,
It would seem that you ALREADY have the niche you need: your background and interest in bilingualism/Spanish, education an culture! If the only reason you need a web-based business is to generate income, then why not make your passion the web-based business? There are no turn-key operations I know of that I can guarantee you making $350 right away. And setting up any web-based business to generate income is going to take the same amount of time and energy as if you started setting up your "passion-business" right away. Yes, you'll need an alternate source of income for a while as you set it up, but you already have a regular job. However, if you don't like the [current job], or if it conflicts with your desired schedule, then you may wish to simply get a different job that allows more flexibility but which provides a "brainless" source of cash to fuel your business. I can pretty much guarantee that if you set it up correctly, that you can more easily start making [money] doing what you love, than you could at a strictly web-based turnkey.

ACTION:The key then, is to start setting up and structuring the "passion business" seriously and with intent to make money, and then transition from your "day job" directly into that, rather than devote inordinate time and energy into a "meanwhile business". I know you said your budget is tight, but this question is EXACTLY what Turn Your Passion Into Profit is devoted to!

ANSWER: Hi A.,
As a business author and "Passion To Profit Expert" all my businesses are run from my home-office.

There are also several things I've done which didn't require me to set up a separate physical office. I've been in Network Marketing with a company called ACN (you can check out the "1000 Millionaires Project" at the site), I've tutored students online from my home, and designed websites.

My best answer of how to find a good business is actually to do something you love to do. The key is to "marry your interests with your talents in the pursuit of your mission".

If you don't know what it is you like to do, or what things move you to action, you can start by taking the Personality Test on the site, and going from there.

Now, your success will depend on how committed you are to doing what's necessary to achieve success.

I've found that there are two things that determine how successful you are in any endeavor: 1. Having a strong enough "why" (your reason for doing it), and
2. Your interest in what it is you are doing (enthusiasm, passion, etc.).

Many people go into ventures without a why or a passion for what they do, and consequently meet with little success. One thing I learned in my years in Network Marketing was the power of having both.

ACTION: 1. Check out www.TURNyourPASSIONintoPROFIT.COM and the book by the same name. 2. Visit www.wahm.com visit www.bizymoms.com visit www.moneymakingmommy.com (let me know if these are helpful)

Even though you don't want to work in these fields, your current level of knowledge, experience and expertise might be the quickest way for you to earn money. You can sell your knowledge in Accounting and Finance, and the Fast Food Industry to companies (including your former employer) as a consultant, and earn much more than if you were an employee.

The reason I would suggest this is so that you can have a source of income that you can use to fuel your home-based business as you get it started. Look at your time in FInance as a learning experience which you can now use for your benefit. Even though I was unhappy for 7 years as a Civil Engineer, it provided the money I needed to start my own business, and also some valuable lessons which I still use today to grow my company.

Now, exactly what you decide to do as a home-based business venture is going to be determined by what you love to do. After you answer the question "what do I love to do?", your next challenge is to create a business around it in such a way that it creates value for others that they are willing to pay for. It's been my experience that people are most successful at businesses for which they have a passion. (At the risk of sounding like an advertisement, that is exactly what my workshops, book and consulting sessions help people discover)

So my advice to you is
ACTION:
1. Set a goal to discover and launch your passion business

2. Use your current knowledge to provide a source of income

3. Transition from one to the other without the pressure of "having to make money right away"

ANSWER:
Absolutely! You can claim the deduction on your taxes (using form 8829) whether you rent or own.

But since the form is intended to track the expenses associated with maintaining your "home", then to qualify, you have to have had legitimate rent, phone, repair, utility expenses you can itemize. ACTION: Visit www.irs.gov and download the forms and instructions to see how to fill out the form 8829.

QUESTION: I would like to start a small home based business to make a little extra money and to give me some thing to do on my off hours from firefighting. I am open for any kind of suggestions.

ANSWER:Wow....that's kind of a broad question, Mike.

Well, because of my expertise, I always suggest that people look at ways to do something they love first rather than looking to franchises and turn-key businesses. I'm sure you have some interest, hobby, talent, expertise that you enjoy and that you'd gladly do with or for others in exchange for money.

The techniques I've developed are based on a truth I call the Third Law of Passion Dynamics which states that "anything that has been created out of the energy of your passionate interest and attention, contains qualities which create an equal feeling within other people for which they are willing to pay to have in their lives." And it means, in essence, that anyone of us can ALWAYS turn our passion into profit!

ACTION: So my suggestion to you is to ask first "what do I love to do".

Next, it's important to also find out what your talents are and what your personality is going to predispose you to taking action on.

ACTION: Take the personality test at www.waltgoodridge.com/itest.html to learn more about the things that might interest you.

Hope this helps a little...

ANSWER: I've self-published 10 books so far and recommend it highly to aspiring writer-entrepreneurs.

ACTION:
1. Get a copy of The Complete Guide to Self-Publishing By Tom And Marilyn Ross (taught me everything I ever needed to know about book publishing)

2. If you want to go the route of getting a deal with a major publisher, pick up 2000 Writers Market at a store or your local library for listings of publishers with addresses.

3. Visit www.bookmarket.com for resources for the self-publisher

hope this helps

ANSWER: Here's my take on the challenge you're facing:

With sites like hotjobs.com and AOL's job classifieds that are already putting employers and applicants together, the challenge is how to create a name for yourself and carve out a piece of the recruiting pie.

Your own experience in this field is going to be much more valuable than anything else. You already know what companies look for, what employees want, etc.

I've heard from a friend in the Information Technology field that what employers are looking for are the technically savvy individuals who can design websites, program and bring something to the table to help companies grow in the new era. He said that companies are having a difficult time finding and wooing these individuals. Perhaps you can find a way to differentiate yourself by focusing on a specific niche of employees. THe more focussed you are, the more successful you can be since the Internet allows businesses to tap into individuals who may be scattered across the globe.

The key is discovering how to locate these individuals because I've heard they aren't surfing job sites in the same numbers as other skilled employees. You're going to have to go after them in some creative ways.

ACTION: Short of doing the actual research necessary to help you create an effective marketing plan, I'm going to suggest a book entitled "Getting Business To Come To You" by Paul and Sarah Edwards, and also "Webonomics" by Evan Shwartz. The first will give you some creative ideas of how to get business fast, while the second will help you in creating an online presence which might succeed in actually attracting your target audience by appealing to their desire to belong to a community. (it'll make more sense when you read the book)

2. Of course, you should check out your competition to see what works, what doesn't, and what gaps they are leaving open for you to fill!

Here's something I received today from briefme.com

GREAT INTERNET RECRUITING RESOURCES
http://216.223.12.2/a/article.cgi?id=16094&uid=182927&link=recruiter

As a hiring manager, you've no doubt seen the emergence of the Internet as a prime recruiting source. Perhaps you have questions about the best tools and methods to make this recruiting source pay dividends for your business. If so, then check out the Association for Internet Recruiting website. This site provides many tools including creative electronic recruiting strategies, candidate-mining techniques, and applicant screening tools. You can also access information on improving your recruiting success rates, take online Internet recruiting courses, and participate in the site's forums and discussion groups. Whether you are an Internet recruiting novice or expert, these resources will help improve your electronic recruiting efforts. Be sure to check them out.

Best of success to you!