Of course. Many thousands of people do. You might have friends or family members who make a living with a home-based Internet business already. The problem is that not everyone WILL make money online, because making money on the internet takes a long time to learn, and most people give up because it can be extremely frustrating.
With over 300,000 "Internet Home Business" related searches on the internet every month, it's safe to say that there is a lot of demand for information on how to make money on the internet. Sadly, this also means that there are a lot of shady characters preying on this group of people.
I knew someone who fell for one of these scams once – they taught him how to make money online, and then all he did was sell seminars – on how to make money online. The fact that he had never actually made any money online was beside the point… I guess. Not surprisingly, I'm not a big supporter of his business.
When Can You Quit Your Day Job to Work Online From Home?
Perhaps the most important piece of advice for starting an internet home business is this: Don't expect to replace your day job's income for 365 days (or so!). Although I will add that service-based businesses tend to bring in revenue faster, I would still allow for a full year to replace your outside-the-home salary.
The Good News About the Home Based Business Industry
As long as you are willing to put in the hours (days… weeks…. months….. ) to learn the ropes, you can bootstrap your business with extremely little money, generally speaking. Remember that some businesses take more to start than others. I've probably directly invested less than $3000 getting this blog up and running, and now revenue is increasing at about a 125-140% pace every month after being in business for 16 months. So, where do you start from here? Here are some general rules of thumb.
Internet-Based Business: Startup Rules
- Pre-packaged programs only work as much as you can customize it and make it unique and your own. Even then, techniques that work for one niche won't work in all niches.
- Be wary of any "system" that promises instant results (especially anything that sounds like a get-rich-quick scheme!)
- Knowing the basics of html, SEO (search engine optimization), social media marketing, website marketing and traditional marketing and sales are a must.
- Every business is made stronger by specializing in a tight niche. Know your audience and stick to it.
Unless you have a brilliant tech idea that makes venture capitalists drool (which means you don't need this list), you need to determine where your strengths are and which business model you plan on following. I have run three home-based businesses in my life, all of which leveraged my current skill set as the foundation for building the business. Look over the following list and single out the ones in which you have at least some experience. You probably won't have all of the skills necessary, so don't let that stop you! All you have to do is work hard and be willing to learn.
What is it?
Promote other company's products and services on your website. When a sale is made, you get a commission.
Most important skills needed
PPC (Pay Per Click marketing), sales copywriting, web marketingBest learning resources
Affiliate Classroom, ShoeMoney, Rosalind GardnerRecommended Book
Make a Fortune Promoting Other People's Stuff Online by Rosalind GardnerWhat is it?
A chronologically based website filled with articles, reviews, or journal-style writing. You can sell advertising or incorporate affiliate marketing on a blog to earn money.
Most important skills needed
Copywriting, social networking, affiliate marketing, web marketingBest learning resources
ProBlogger, Blogging for Dollars, Yaro Starak's Blog Mastermind Program (highly recommended & he has a free report to download)Recommended Book
ProBlogger, Secrets to Blogging Your Way to a Six Figure Income by Darren Rowse & Chris GarrettWhat is it?
Selling or reselling products via an online marketplace like Ebay, Amazon Auctions, or Craigslist. You can sell used goods, buy goods wholesale, or use a drop-shipping service.
Most important skills needed
Merchandising, sales copywriting, customer serviceBest learning resources
Ebay Learning Center, SaleHoo Training Center, JennyHowRecommended Book
eBay 101: Selling on eBay For Part-time or Full-time Income, Beginner to PowerSeller in 90 Days by Steve WeberWhat is it?
Selling products or a technology-based service on your own website.
Most important skills needed
All of the above, below and then some!
Best learning resources
Entrepreneur.com's Online Business Startup GuideRecommended Book
The Complete E-Commerce Book: Design, Build and Maintain a Successful Web-Based Business
by Janice ReynoldsWhat is it?
Creating and manufacturing your own product lines and selling them online.
Most important skills needed
Creativity, sales, e-commerce
Best learning resources
Sparkplugging's CraftBoom, About.com Craft Business 101 Series, Barbara BrabecRecommended Book
The Crafts Business Answer Book: Starting, Managing, and Marketing a Homebased Arts, Crafts, or Design Business by Barbara BrabecWhat is it?
Doing internet research for corporations, law firms and other small businesses.
Most important skills needed
Librarian-style research skills, customer service
Best learning resources
Entrepreneur.com's Information Consultant Startup GuideRecommended Book
Building & Running a Successful Research Business: A Guide for the Independent Information Professional by Mary Ellen BatesWhat is it?
Providing professional services such as copywriting, design, photography, illustration, and programming usually billed on an hourly rate.
Most important skills needed
Sales, customer service, trade-specific knowledge
Best learning resources
Our Freelance Parent channel, FreelanceSwitchRecommended Book
The Business Side of Creativity: The Complete Guide to Running a Small Graphic Design or Communications Business by Cameron S. FooteWhat is it?
Recruiting candidates for companies who pay a fee when a hire is made.
Most important skills needed
Sales, relationship building, networking
Best learning resources
RecruitersNetwork, HireAbilityRecommended Book
Start Your Own Executive Recruiting Business (Entrepreneur Magazine's Start Up)
by Entrepreneur PressWhat is it?
Providing your specialized industry knowledge to corporations, entrepreneurs, investors or other businesses.
Most important skills needed
Trade-specific knowledge, sales, customer service
Best learning resources
Entrepreneur.com's Consulting Business Startup GuideRecommended Book
The Business of Consulting: The Basics and Beyond (CD-ROM Included) by Elaine BiechWhat is it?
Providing administrative and business support to other business owners and small businesses.
Most important skills needed
Customer service, organization
Best learning resources
VirtualAssistantStartups, Entrepreneur.com's Business Support Startup Guide, VirtualPABusinessRecommended Book
The 2-Second Commute: Join the Exploding Ranks of Freelance Virtual Assistants by Christine Durst
