Income – Business – Making Money
In the end, it doesn't matter how you describe what you do. We call it creating income, or a home-based business or an income opportunity and it is still about how much or how little you have to do (the labor) and how much or how little investment is required (the money) for you to receive your financial reward (the income).
I want to start by defining some basic terms – ones that will carry through this entire section:
- Business – I am going to refer to all the opportunities as a “business” – simply because the basic definition of most (maybe all) are ones that you get to be your own boss and put up your own money.
- Investment – this is the money part – some of these might require only a little and some might require more and some might be labelled as “free” and have an “upgrade” path to where money is required.
- Labor – I know of a few things to do that you only have to put in the investment to reap the reward, but most of the things I do and will do take some amount of time and that I call the labor.
- Income – that is the money you get to put in your pocket – this is very different from the money they might pay you through their payment platform (e-wallet) – you sometimes have to meet requirements of earning or performance or time to actually be able to take the cash and spend it.
Planning is important and that begins with a look, examination, evaluation or inspection of the business. This falls into two sides to examine, the business requirements and the personal resources or availability. Not only do you have to see what the business wants or requires of you in terms of time, effort, energy and money, but you have to first sit down and evaluate what you are willing to put up – on the theory that you will find something you want to do.
Let me put this in a different way … before you look at any business you should sit down and write down your available time and money so you can weigh the business requirements against your resources. One of the businesses I really like is one that requires almost no work (2 or 3 hours per week is the top), but it takes a few thousand dollars of your money to get started. So it is easier on you to know what you have before you start looking for a thing to do.
Here are a few parameters or ranges to consider:
- Time requirements and availability:
- 1-10 hours per week
- 10-20 hours per week
- 20-40 hours per week
- Investment requirements – initial investment
- Free to start
- Up to $100
- More than$5000
- Investment requirements – monthly fees
- Up to $25/mo
- From $25 to $100/mo
- More than $100/mo
- Energy commitments
- Short learning path to success
- Learning marketing or internet applications
- Recruiting and team building required
- ROI – Payout to You in Spendable Cash:
- Up to $100/mo
- $100 to $500/mo
- $500 to $1000/mo
- $1000 to $2000/mo
- $2000 to $5000/mo
- $5000 to $10000/mo
- More than $10000/mo
- Duration of activity before money comes in – how long it takes to start getting cash out:
- First 3-5 days
- 5 days to 2 weeks
- 2 weeks to 1 month
- 1 to 3 months
- 3 to 6 months
- 6 months and longer
As you can see there are lots of choices in the world of business. Do your homework on your end before your business research begins. Knowing your availability and limits will make your search much easier, just be aware that some business requiring more of an investment will also provide you a much greater reward.
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Spend the time to review all of them and find your passion.