Running a Business from Home: Making Your First Million

Running a Business from Home: Making Your First Million

Running a business from home may seem a very viable idea. Before going into any kind of business, it is imperative that you are aware of the attributes of a good business idea and how you can come up with one. In the first place what makes a business successful? A successful business is one that meets customers' needs better than they are met elsewhere. It doesn't have to offer something completely new, it just have to have an element that makes people think. �That is something good. I will try it�.

A Great Business Idea

How can you come up with a great business idea? It comes through the observation of everyday life, and by listening to people who you come into contact with. One good example is that when I came into contact with a group of elderly men who experience low sexual libido because of old age. They came across some libido capsules brought in from mainland China. These capsules were so good that kept them talking about the scarcity of supply as the original retailer has been missing for some time. So I thought should I trace the supplier from mainland China this would be a good business to go into because the number of golden age people who needs this product run into millions and if I just make one dollar from each client, I would be a millionaire just selling capsules. So an idea of importing the capsules for sale was born and I am now on my way to make my first million.

Another good example is of a thirty something woman with three children. If the kids saw a toy advertised on television they wanted it but once this object of desire is home and unwrapped it would lose its appeal.

The kids want something special at party time so that their friends could enjoy a bit out of the ordinary for the duration of the party. But buying big expensive toys is out of he question for just one time use. Other mothers are facing the same problems. From this a germ of an idea was born. Upon discussing, the mothers came up with an idea of setting up a store to rent out exclusive and expensive toys for the one-time use at parties. This idea led to a lucrative business catering for the needs of mothers who were originally caught in a dilemma regarding special expensive toys for a one-time use. These expensive toys are specially rented for party use.

Do Your Homework

Once you strike on an idea, do not rush in without first evaluating your idea strategically by asking yourself a number of pertinent questions. Running a business from home is a risky affair, and you often do not have that much capital to go around making mistakes.

Why has no one done it before in the geographical location that you have in mind?
Surely you are not the first person with the idea but why has the other person abandoned the idea. When you are passionately carried away by your idea it is natural for you to overlook the weaknesses of the idea. What works in a different country does not necessarily work in yours.

Try not to push water uphill by choosing an idea that you love but will have a very hard time to get people to spend their money on it. Try not to be carried away by the notion of simply introducing new products into the market. Introduce something that people will spend their money on them because the idea of doing business is to make money and not to champion new products unless the product will make money for your business. Ask yourself the pertinent question, �What am I selling and to whom am I trying to sell it.�


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