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How Much Time Does It Really Take to Make Money From Home?

Many people have no idea where to start when it comes to figuring out which business opportunity to try.

Let’s face it, it’s not like there are only a handful of money making plans competing for your precious time. Thousands – perhaps tens of thousands – of individual courses, seminars, e-books, resale rights, software packages, programs…

Which one should you choose? Which one is right for you? Before you even weigh the relative merits of the various options, you need to ask yourself some key questions.

First, let’s think about the most basic and limited resource – TIME.

How long does it really take to make money from home?

Time is very important because there is little we can do to get more out of it. While it is possible to make money, learn new skills, or acquire the right mindset, the number of free hours available to pursue a given venture is non-negotiable.

Yes, once you’ve found a solid business model, there are ways to use your time to be more productive, but when we launch, every minute counts.

How many hours per week do you have to commit to your money making ventures?

What are the minimum time requirements for a business or income generating venture? Of course, the more time you spend on many of these opportunities, the more your potential income will multiply. But what I want to make clear today is the minimum amount of time you need to make it worth it. Now my guess is that most people would like to earn at least a few hundred pounds a month. So that’s what I use as a benchmark.

Here’s a quick overview of what I think is the average minimum amount of time you should spend on a given opportunity.

Retail (online): 10-20 hours per week

Affiliate marketing (online): 10 hours

Ezines/blogs: 5-10 hours

eBay: 5-40 hours +

Financial trading: from 5 a.m. to 3 p.m

Receptions (online): 5 a.m. to 3 p.m

Okay, let’s dig a little deeper and work backwards: let’s say you have 40 hours a week + free time. You don’t have a full-time job and you’re ready to put in a full-time effort. What are the options?

The good news is that you can do almost anything!

Any traditional brick and mortar business (retail or service based) will need at least 40 hours per week and probably much more. The same applies to franchising. I know this sounds obvious, but there’s no point in considering a traditional business model unless you’re willing to at least work regular 8-hour days.

Another favorite way to spend my time is as a broker (essentially bringing buyers and sellers together) – again I’ve covered these in detail including brokering parking spaces, sales matters, room rentals and even creating JV deals for listings and sellers between. product owners.

But I assume that while reading my article, you are hoping to earn a good income without the hassles and difficulties of starting a full-fledged business. time?

Online of course!

Look, I don’t need to bore you with the benefits of a purely online business. We both know that the Internet gives you the ability to sell 24 hours a day without ever having to meet a single customer. No need to travel. And you don’t have to worry about taking care of the premises or managing the staff.

However, if you are developing your own products, whether electronic or physical, and your own website, the setup time will be significant. Fortunately, these days there are plenty of ways to set up all the technical stuff without having to learn complicated code or pay thousands for some tech geeks to get started. There are tons of packages that can create websites, broadcast emails, accept payments, and more.

And then there’s marketing to consider. You can’t just blow up a website and expect people to find it. If you already have a database of past clients, you have an advantage. I recommend getting as many existing names as possible on some regular email as soon as possible.

Even if you don’t have an existing database, it’s essential to create a weekly newsletter for your prospects. This ensures regular contact with potential customers and can alert them to important news as well as current offers.

Since you will undoubtedly need to find other ways to generate new leads online, consider how long it will take for your website to appear in Google – it can take up to 6 months, and even then there is no guarantee that you will get a high ranking. listing. Alternatively, you can pay for Google Adwords, but I guarantee that it won’t work well the first time (or even the second or third time) and there will be a period of trial and error before you get your ad right, targeting the best keywords and making sure those visitors become paying customers.

A potentially lower risk and lower cost market entry would be a joint venture with free list owners. Yes, it can speed things up, but you still need to consider the initial period of identifying potential JV partners, writing to them, waiting for their response and agreeing on terms. However, I know many very successful online business owners who make great money just by working with joint venture partners.

What if you don’t have time to develop your own products?

Well, you can get the rights to other people’s products. There are many opportunities to secure non-exclusive resale rights. Be warned, though: you likely won’t have any marketing materials, so you’ll either have to create them yourself or pay someone else to. Also be aware that there may be hundreds or even thousands of other products with the same products.

My advice is don’t compete in the most popular areas like business opportunities. Instead, find a small but proven niche.

Another alternative to product creation is the public domain: the public domain describes works that have fallen out of copyright, or perhaps were never eligible for copyright protection. This is where many savvy marketers really make money. It describes books, music, movies, artwork, and other creative creations—things that you can copy and start selling right away.

Becoming an online affiliate is a much hyped way to make money – the product, marketing materials, payment and product fulfillment are all done by someone else, so you have to focus on market research. It sounds easy (and many affiliate opp promoters would like you to think so), but offline or online marketing is a serious business and you need to devote at least a couple of hours a day to your affiliate business.

You have to be realistic with your time. So let’s say you only have one hour a day – maybe in the evening or in the morning. What are your options?

1. FINANCIAL TRADING: We all know that day trading offers high potential rewards for those who can trade swings. I don’t recommend it to everyone, but I know a lot of people who can regularly take 10-20 times their bet in just a few minutes. On the flip side, of course, if you get it wrong, you can lose your bet. I recommend doing a lot of hard research first. There are countless tipsters, courses and trading software packages out there. Make sure you go with the most reputable ones. Also, make sure you follow a strict risk and money management strategy that protects your trading bank… or your trading career will be brutally interrupted!

If you want to trade the financial markets intraday (opening and closing your positions in a single session), you want to be there when there is the most activity. For Forex and the major indices, this peak is actually from 7am to 11am and then from noon to 3pm in the afternoon. There are also plenty of opportunities in the evening, when the American markets close and the Asian markets open again.

2. SPORTS BETS: If betting is your thing, then betting exchanges like betair.com offer an online platform where you can pre-bet (both support one bet). As with any market, prices are subject to change and you will find that the best return will be if you can follow the live markets (be it horses or football). It is even possible to collect no-loss bets with so-called in-running trading, where you back and bet on horses or football teams during a race or match.

SCAM! As publishers with less ethical business opportunities understand that they want to make money in our spare time, you’ll find plenty of attractive-sounding businesses that promise high returns with minimal time and effort, including pay-to-surf, online rentals, and all kinds of envelope-stuffing programs. . I’ve yet to see one that actually works, so I don’t advise you to get involved. The same applies to any form of pseudo-pyramid schemes such as cash giveaways, eGold or HYIPS (High Yield Investment Programs).

3. EBAY and AMAZON: My advice is if you’re really pressed for time, consider an option that allows you to dip in and out depending on the time you have, without compromising continuity. I know it might not be as familiar, but you can’t beat eBay and Amazon for a proven marketplace. As I’ve said many times before, you can start with unwanted items in your own home. This allows you to familiarize yourself with the sites at zero cost before you start identifying, and also consider online arbitrage, where you can buy from an online source and then sell somewhere else at a higher price and pocket the difference.

Finally, I can’t remember which law it is (Sod’s or Murphy’s Law), but it states that the time you think a task should take is only a fraction of how long it actually takes. So anyone tells you anything – I’d at least double it!

The good news is that every minute you spend is valuable, whether you’re making money or not. With every effort you make towards your goal, you add experiences (positive and negative) that you can use later. Discover great home business opportunities

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