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Home Based Business Vs Traditional Business

There are many home based businesses available to people who have the desire to work from home. However, the number of them that require a large investment of time and money are high while there are only a select few online business opportunities a person can work from home which require a small investment and little or no risk.

People who are interested in starting a business, whether it is a home based business, an online business or a traditional brick and mortar operation do so in order to earn money and make a profit.

Profit is money a business earns above and beyond the money it spends for salaries and other expenses. Business people make profits by taking risks. Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable. A loss occurs when a businesses’ cost and expenses are higher than its revenues.

With a traditional business there are lots of expenses involved, including over-head and salaries and the business owner’s risk is very great. That is why a large percentage of businesses fail after a few short years.

However with a few of the online home based businesses anyone can begin building a dependable and solid income with a small amount of money or capital and little or no risk whatsoever. Age and education don’t matter.

So with the right online business opportunity a person has the chance to take control of his or her life and gain freedom from working a regular job. There are only a few legitimate home based business opportunities available today with unlimited earning potential that are designed with the average citizen in mind.

One online business focuses on selling internet addresses or domain names, which is a booming industry. Industry experts forecast that more than 500 million domains will be registered in the next ten years. In fact, reliable sources from companies like Intel are predicting that every personal computer in the future will have its own domain name.

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How to Invest Money and Make It Grow?

Learn how to grow your money through investing. Investing is one of the best ways to achieve financial freedom but there are required skills and knowledge to succeed. Aside from your knowledge and skills, you also have to “take risk”, do not be afraid to risk because you can manage risk, minimize it by equipping yourself a skills and knowledge. As the old saying goes, in investing you should know what you are doing to avoid loss of capital investment.

Before Investing Money

Before you invest money, make sure you have prepared the following important things. Make sure you have paid all your debts or liabilities. Make sure before you invest you have your cash reserve or the emergency funds needed to help you in case there is an emergency so that you will never pull out your investment.

The ideal amount of emergency funds should at least 3 to 6 months of your income. So, if your income is $2,500 per month. You should have $15,000 emergency funds good for 6 months.

You should also have to buy a life insurance. A life insurance is for protection. You need life insurance just in case something bad happened to you. Life insurance can help your family to recover from financial losses in case you died.

The ideal life insurance coverage should at least 3 years of your total annual income. If your annual income is $60,000, you should buy a life insurance that has a face amount of $18,000 good for 3 years to help your family to recover from financial losses.

After you have paid your debts, have emergency funds and bought insurance, it’s time to know your risk appetite.

Know Your Risk Appetite

It always depends on your age, of course if you’re still young, you can take high risk and for mid 40s to 50′s you have to take medium risk and for 50s and above, they should only take low risk investments.

For low risk investments, money market funds, time deposits and bonds are appropriate investments.

For medium risk investments, combination of bonds with equities are appropriate investments.

For high risk, you can choose to invest purely on stock equities.

Make an Investment Goal

After you analyze your risk appetite, you have to make an investment goal. What is an investment goal? It is goal wherein you should know the purpose of your investments, how much should your investment cost your every month or annually. When should you start investing and when is your plan to redeem your investments.

Take Investing Action

A plan is good if you work for it. You can never see a result of your investments if you didn’t work your plan. You have to take action, just do one thing at a time. From opening your investment account, funding your investment account. And if you choose to invest in the stock market, you should buy your first stocks, you don’t need to be afraid. All is easy especially if you really want to grow your money. Just ask the financial advisor or financial experts, there are advisors in the bank or any financial investments firms.

Achieve Financial Freedom

Saving is good because it will teach you the habit of managing your money. If you are disciplined money saver, you will also be a disciplined investor. Ste aside money from your salary or income every month and fund your investments account such as mutual funds, stock broker account or fund your savings account intended to use as a business capital

I hope you do learn many things in this article. To achieve financial freedom, you must “take risk” and reap the rewards someday. Thank you for reading this article, I wish you a prosperity and financial freedom. If you have time, read other financial blogs, business and finance books and magazines or attend financial literacy seminars.

MLM Home Based Business – Generating Leads You Require

One of the biggest challenges for any MLM home-based business has nothing to do with selling products. The chief hurdle that any MLM home-based business generally faces involves building a successful down line. Just how will you find the entrepreneurs who are interested in becoming a part of your MLM home-based business team?Prior to you rushing & begin trying to produce leads for your MLM home-based business, you require a plan. It is not sufficient to tell people on surface value what is your MLM home based business and the company’s products and expect them to sign and join you. You have to know whatever you can about your MLM distribution business, products, and compensation plan in order for you to answer any of the questions that your MLM prospects might have.The more you know and more comfortable you are with your presentation, the easier it is to ignite people eagerness to become a part of your MLM home based business. Not understanding the needs to all their doubts and giving ambiguous answers is likely to cause your MLM prospects to mistrust you and your MLM home based business. Make sure you have a follow up plan after you have generated your leads & start making follow up contacts with them as study has shown that it takes up to seven contacts before people take an action of any type, no matter whether they are buying your product or else signing up for your MLM home based business opportunity.When you know your MLM home based business inside and out, you are ready to begin generating MLM leads. One of the first places to shortlist is from your networks of friends and personal acquaintances. Make a list of everybody you know.You will likely be surprised by how long this list is, and people you know are good place to begin looking for like minded individuals who are keen to start a business for themselves. Many times, even though your friends and acquaintances may not be interested in your MLM home based business themselves, they may refer you and provide you the names of people whom they know may be interested in your MLM home based business opportunity.If they do not refer anybody involuntarily, simply ask them politely for any referrals whom they can think of. You will never know who are may be interested in your MLM home based business you own and you will not know unless you ask.

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