Owning a successful internet home based business can be very rewarding and extremely lucrative. It offers flexibility to be your own boss, freedom from the traditional 9 to 5 rat race, and the ability to experience a level of financial freedom that only a handful of people will ever truly know. Despite the fact that many people dream about making millions of dollars with an internet home based business, this rarely comes to fruition. Not because it is impossible to accomplish but rather due to the fact that too many people choose the wrong type of home business or they don’t know how to implement the business once they have chosen it.The most important thing to remember when looking to start an internet home based business is to do your research. Learn everything you can about the business before investing in it, including the negatives. There are six questions that should be asked and answered prior to starting any home based business.1. Is this business a system?
A business system is a specific method or plan of procedure with an orderly manner of how things are to be done. Any legitimate home based business will have a solid system in place for new entrepreneurs offering support, encouragement, and advice. If the internet home based business you have chosen to pursue does not have an easy to use system in place, then move on and keep looking.2. Does this business fit your personal skill set? If not, can you realistically learn the skill set needed to succeed?
Countless amounts of home business opportunities claim that you don’t need any special skills to be successful. This just isn’t true. Conducting business on the internet takes a certain level of skill and finesse. You should determine upfront what skills are needed, if you already possess those skills, and if not, can you acquire these skills in a timely manner to ensure your success. A majority of home based businesses require some level of marketing, so it is imperative that you have a basic understanding of this concept.3. Is there a market for your business or product?
If the answer to this question is no, then stop wasting your time and move on to better things. If there is no one willing to buy your product, invest in your business, or use your services, then you are going to fail before you ever get started.4. Is there potential for a large return on your investment?
Nobody is going to invest the time or money into an internet home based business if there is no potential of getting a large return. After all, the goal is to make money.5. Is there a proven track record?
Learn what the pros and cons are from others who have firsthand experience. Do your research and talk to people who have had success and if possible some who have not. A word of caution on this though, when looking online for answers many people will blame their failure on the company, the leadership or something else never looking at themselves as the culprit. Success has tracks!6. Can the system be duplicated and therefore easily multiplied and built to run with minimal ongoing participation?
This is key to creating leverage for yourself that allows you to create the lifestyle you are looking for. The easiest, quickest way to make steady income online is to encourage other people to do what you do by having a system that is easily taught and duplicated. You must be able to teach people to start their own internet home based business under your direction and have them do the same. However, in order for this to work the business system must be easy to duplicate.

Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.

If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.

Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.

For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.

No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.

There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.

Unless you are a butterfly who hasn’t been born yet or are a larva stuck in that cocoon you may have noticed a insurgence of people starting a successful home based business in the last few years. Coincidence? Why is this happening? If you look at the Internet you will find many reasons.Many people are now realizing (like many have for decades) that there is no security with a job anymore. Ask yourself this, do you know even one person who has lost their job in the last few years in this economy?So why should someone think outside the box and start a successful home based business? Well, there is a big difference having a home based business and running a successful home based business first of all, but you started one to become successful, right? Let me start by addressing the benefits of having a home based business first of all as compared to a w-2 employee.As a w-2 employee you do not get to write off your car mileage every day that you go to work but you can when you have your own business for business purposes. If you travel for your job you do not get to write that off on your taxes either, the company does. You can expense it, but not use it as a w-2 write off. If you are trying to have a successful home based business and have an office at home, you can write off your utility bills based on the square footage of the office space. You can write off supplies for your computer or printer needs, you can also write off your cell bill or internet service if you use those as a way to grow your business. Now, let me say I am not a tax advisor or CPA but when I do my taxes I have my schedule C all filled out with my operating expenses and it has consistently paid me between 8K and 10K dollars a year to have a home based business as compared to having a job and fighting that rat race as many people say on their commutes to work especially on a Monday morning. The many benefits go on and on. Ask your CPA or H and R block guy then next time you do them in a few months here upcoming.Ask your self this question why is the tax system set up differently for different people? Doesn’t it make sense to take advantage of something that can better yourself in the long run and set up a successful home based business. Most of these businesses you can start for less than one thousand dollars.Now, if you are looking at that and saying I don’t have an extra thousand dollars to invest in myself. Then look at what you are doing now and be honest with yourself. Is what you’re doing getting you ahead in life? If not then something has to change or you will always have what you got. Now think of where you work, was that company started with that little of money, odds are probably not. Not to mention all the governmental regulations that businesses have to comply with (not saying it’s all bad) but when I used to work for a governmental compliance company I would hear from a lot of small and medium sized traditional business owners that between workman’s compensation and insurance and rising rates it can be tough to compete with the competition due to the large amount of overhead and to bring in just enough to break even before they even begun to profit. Ask anyone who owns a brick and mortar business and has these issues.So overall it will pay you in the long run to start a successful home based business which is why so many people are getting involved in the network marketing field. In my opinion there is no better model to get all the benefits and advantages for owning your own life again and leave the cell when you’re in cubicle prison. (Sorry I used to be in several of those with my former jobs so I had to say it…big laugh). And one final thought with having a successful home based business. Robert Kiyosaki advises that you start something on your own so that you won’t be part of the middle class who will continue to be wiped out into poverty in this world over the next few decades.