Searching for home based business ideas to make money on the web?
As you likely are already very aware, finding some real advice on home based business ideas that are actually viable can be difficult. It can be hard to find a real solution when there are so many options and directions, so as a result I thought you may like to hear my 5 home business ideas I’ve personally done, that have helped me profit without running a traditional business.
1 – Affiliate marketing
This is where you sell a product or service that someone else has created, and you make a commission that can be as high as 90% of the sale even though you didn’t create anything of your own. The advantages of affiliate marketing are that you don’t have to create a sales page, manage affiliates or employees, as well as all the other complications of doing product launches.
Although this sounds like a flawless plan, some companies can close their affiliate programs at any time for any reason, although you aren’t usually tied to any contracts when you promote something as an affiliate. It is one of my top home based business ideas.
2 – Network marketing
Similar to the affiliate marketing concept except you are also paid to recruit and build teams, as well as sell products or services. There are definitely more rules to follow than affiliate marketing though, such as companies threatening to terminate distributors of their company if they are ‘moonlighting’ with other companies too.
Even if they are not a competitor and there will be zero conflict whatsoever…yes, network marketing companies have the authority to do this. On the plus side, you have the potential to earn residual income from other people you bring into the network marketing company. So even if you don’t work yourself but you have a team that does, you can still potentially get paid.
3 – Top tier
This is a concept that is fairly new, which is to sell products or business opportunities that are at a higher price in order to create higher commissions. Often times top tier products may cost thousands or even tens of thousands of dollars to start, although they can create larger commissions from very few sales, instead of trying to make lots of smaller sales.
They also typically have a very low monthly fee, so over time you would actually pay less than a network marketing company in some cases. Also top tier programs that are digital products (or are masterminds where you physically meet up with a coach) can pay out higher commission rates, due to not needing shipping and handling as there are no physical products involved.
4 – Sell advertising space on content you create
You can do this via methods like creating videos on YouTube, there are lots of YouTube marketers (KSI is a great example) who didn’t promote any products to begin with but they share in advertising revenue that comes in from people visiting content they create.
In a way they are not selling advertising space but more allowing it to be placed on their content, and Google (who owns YouTube) will do the job of actually finding which adverts to place. This is a great way to create passive and consistent revenue, so long as the content in question keeps getting a lot of viewers. You could also blog on a certain topic and sell advertising space on that blog.
5 – Selling your own products
This is more advanced and definitely not recommended for a beginner marketer, unless you are already an expert on a certain topic and can find a marketing whiz to help you promote it. If you create and sell your own products then you will definitely have the most control over your business. Also with this extra control can come extra costs, as you will have to host everything on a website and also spend money on branding or advertising.
With that said, it’s still one of the most powerful home based business ideas and one that you will probably be most passionate about, as you will be creating your own ‘baby’ that is entirely yours! You can also run masterminds or seminars to share knowledge in your chosen field, if you are being niche specific. Before doing this though, I recommend leveraging off selling a product or service that already converts well and just learn how to market it like a pro.
If you liked this post with viable home based business ideas, you may also like my related posts on key factors for business success and how to start affiliate marketing (where you can sell products you haven’t even had to create or manage). Also my recommended business can be found here.
-Seb Brantigan
A.k.a. The Britpreneur
Get value? Let me know what you liked best on Facebook!
Skype: seb.brantigan
P.S. got value from these home based business ideas but still don’t have a proven system or program to work with that will really help you?
Here’s the exact system I’ve used to generate over 3,746 leads online and make $10K+ in commissions from people who didn’t sign up in my primary biz, using no paid marketing.
Click here for the training video (unless you already get 20+ leads per day)
Also be sure to check out my resources page if you are looking for powerful tools to make your business more efficient and less time consuming, as well as my free training page for specific marketing and lead generation strategies.
