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Home Business Possibilities 7
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Reprinted with permission from Janet Attard* Copyright 2004. All rights reserved.
I have little children at home. How many hours will I have to work a week to make money?
There is no minimum number of hours you have to work each week to make money. One of the wonderful things about building your own business is you can build it to suit you and your needs. Your earnings won't be sky-high if you can only work a few hours a week, but you can still make money. Furthermore, if you plan for the long run, the business you start on a small scale now could grow into a substantial source of income as the time you have to devote to it increases in later years.
For example, if you have the skills and equipment, you might want to start a small word processing business from home, doing a limited number of jobs when the children are asleep. As they grow, you might take on more work, take courses in commercial art and layout (if you have the interest), and expand into desktop publishing- Later you might add other services or even move the business out of the house. The same kind of gradual growth and expansion of time and income can be maneuvered in many other fields.
Is there an easy way to make money in my own business?
Working for yourself can be enjoyable, rewarding and profitable, but there is no easy road to riches.
Is there any good way to make money in a hurry?
Although there are some businesses that can be started faster than others, you can't count on making money in a hurry in any business. Even if you find customers immediately, you may have to wait for payment, or you may need the profits to buy inventory, supplies, equipment, or improve your cash position. Patience can be a virtue in business too.
What home and small businesses make the most money?
The businesses that make the most money are almost always those that allow you to hire other people, make commissions on work other people do, or sell products to many people. Income from businesses requiring your individual attention is always going to be limited by the number of hours you can personally devote to client work. If it takes you 50 hours to write a computer program you sell to one company for $1,000, you have made $20 an hour. If you can turn around and sell that same program unchanged to ten other companies, even allowing for marketing time your earnings per hour on that program have multiplied tremendously.
Similarly, if you do word processing and do all the work yourself, the money you make will be limited by the time you devote to marketing the service and performing it. However, if instead of doing the work yourself you become a temporary employment agency and match workers to available jobs, you could greatly increase your income.
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