Can a Home Based Business Make You a Millionaire?

Can a Home Based Business Make You a Millionaire?

Can a Home Based Business Make You a MillionaireThere is a lot of hype and mis-information about home based business. I’ve run my home based business for more than 20 years so I have to chuckle a bit when someone tells me “that stuff doesn’t work” or “I don’t think that’s possible” or whatever version of denial is being presented at the time.

The people who know me know that I run a home based business. Sometimes, they ask me about it. Other times, they don’t. And I don’t work real hard to try to convince them that they should. Sometimes, my friends will ask me about it. We can sit down, have lunch, and I show them what I do and how (if they are interested) they can do it, too.

And no, I’m not telling you I’m a home based business millionaire. I don’t share my  income numbers. One person will hear my numbers and think, “That’s all you make?!?” Another will hear my numbers and think, “That’s too much. I could never do that.”. So, the amount of money I personally make running a home based business is not a conversation I have with folks.

Your income goals may be much smaller than mine. Your income goals may be much larger than mine. The goal of this article is to share some information with you about other people who have built incredibly successful home based businesses.

A quick look at Entrepreneur.com will show you that there are over 30,000 million-dollar, home-based businesses run by solo entrepreneurs. If you really like to dig in to data and numbers, you can view the stats at census.gov. It is safe to assume that many of these “solo entrepreneurs” are working from home and others are not due to their particular business structure. The point is that we can safely say the idea of the small home based business has come of age and you can build your home based business to whatever level of success you are willing to work for.

In that same survey, we find over 200,000 entrepreneurs with sales between $500,000 and $999,999, and over 400,000 entrepreneurs who were raking in $250,000 to $499,999 a year.

So we can see that is is absolutely possible to earn big bucks with a home based business.

There are, of course, a lot of high income earners in the network marketing field, as well. Often misunderstood, network marketing is growing in popularity on a worldwide scale. Sites like businessforhome.org publish a very impressive list of some of the top income earners in network marketing.

I am happy and honored to say that I have been blessed to meet and sit personally with some of these network marketing leaders.

The point is that, whether you pursue a more traditional home based business approach or if you are interested in the network marketing model, understand that it is entirely possible to do more than simply supplement your job income. Some choose to completely replace their job income and then make that job available for someone else.

Neither model is easy. If it was, everybody would be successful in both. But some believe, myself included, that network marketing provides the simplest model to follow. A recent article I read broke it down like this:

Step 1) Find a network marketing company that caters to your skills and interests. You will see a lot of ads from distributors on this site. Check out the ads that interest you and contact the advertise to learn more about what they are doing and how they can work with you.

Step 2) Join that network marketing company. This gives you access to products and/or services, training, and support to help you grow your business.

Step 3) Sell your products or services to customers to earn commissions. If your company offers products, sell those products to customers who can benefit from using those products. If your company offers services, sell those services to customers who can benefit from using those services. The network marketing company pays commissions on those sales. This is how every retailer creates income, whether via network marketing or traditional business.

Step 4) Find and help other people interested in earning residual income via network marketing. Just like you were interested in making more money, so are many other people out there. Some folks are just going to want to be customers. Take great care of your customers. They bring income and stability to your business. Some folks are going to be interested in doing what you do and building residual income. Show them how by training and supporting them as they learn. Part of the appeal for network marketing is the ability to learn from and work with other successful people in the industry. When you work with a good team, you aren’t “competing” with each other. You are working together to create more success for everyone involved with the work your team is doing.

If you are ready to learn the skills and put in the work, your home based business can be as big as you are ready to build it!

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