Home Based Online Business Opportunities – Where to Start?

It is certainly possible to start your own home based business over the internet. In fact, it is probably the easiest way to start your own business! Almost anything is possible with the modern internet based world and every day, more and more people are turning to the internet to start their own Home Based Business.So the two big questions are:1 – Are Home Based Online Businesses feasible and profitable? The simple answer to this question is yes! Online businesses can in fact be one of the most profitable business opportunities of our time, if managed correctly. It is important to note that 97% of online businesses fail. This is primarily due to two things: Poor mentoring, coaching and training (or none at all!) and secondly given that you can start an internet business with no upfront cost, it is fair to say that there are many people half heartedly ‘playing’ around on their internet businesses and not giving it the serious time and effort required.2 – With all of the competition online, how can one ensure that they stand out from the crown and succeed in this kind of business?Let me take you over the four steps towards ensuring that your home based online business is successful:Step 1: Find a great mentor. Shoot high, don’t go for the cheapest mentor available, research your prospective mentors and find someone with similar values to you as well as someone who has a heap of testimonials from their other partners or students.Step 2: Build your listA home based online business relies heavily on network marketing. It is composed of building an email list or “downline”.Essentially you will be offering something of real value for free in exchange for your prospects’ email address. As well as delivering what you promised via email, you then redirect them to the offer to purchase the goods or service of join up to the business.The beauty of this process is that now you have their email address so you can start building a relationship with them and over time offer them other products and services.Step 2: Increase sales and conversions!Home based online businesses can be so simple yet they require careful analysis of your marketing efforts and your conversion rates. These both greatly affect your sales income. For example if one website had a 20% conversion rate (20% of viewers purchased your product or took the action you wanted them too from the page) and another website had a 5% conversion rate, then you would be doing everything you can to direct all of you traffic to the higher converting website.Step 3: Monitor the conversion and retention products and services.Similar to the above, stop promoting products or services that aren’t selling well and focus more heavily on the higher converting products and services. Further to this, try to incorporate some recurring income streams that will pay you a monthly commission per sale!Step number 4. Train your downlines regularly.There are two components to a downline. The first are the people who just purchase from you to use the product or service. The second are the people who join your business opportunity and effectively employ and regard you as their mentor.It is extremely important to keep building your relationship with both of these groups, but it is equally important to train your downline and give them all of the resources and tools required to ensure your business is a success. Do this correctly and you will have them referring business to you!Constant study really pays off as you can pass on your knowledge to your team.If you take all of the above tips into your stride, you are ready to get started on your first home based online business opportunity.The formulas are already in your hands. Action is now all that is needed to produce results! Mindset is key and you need to be positive, motivated and excited about your new life and career prospects!