Tips on How to Start a Home Based Business by a Real World Entrepreneur

What I’m about to share in this short article is how to start a home based business — from my own experience. You do not necessarily want to follow my steps exactly in sequence, because, quite frankly, in the beginning, I didn’t know what I was doing.

But 7 years later, and a multiple six figure a year passive income means that I’ve achieved a fair degree of success, so you may learn something.

When I first started, I was looking for opportunities in the online classified business section of Yahoo! This was back in 2002 and believe me, it’s not a good place to start because there are a high degree of scams posted there.

Nowadays, you’re much more fortunate because web sites that list legitimate opportunities are widespread.

The one smart thing I did was decided that affiliate marketing was an business model with a lot of promise. Today, affiliate marketing is still the best home based business opportunity that I think exists for the individual entrepreneur who wants to strike out on his or her own.

When I decided on affiliate marketing, another smart move I made was in choosing to promote products in the health niches. I knew that health products, because of the baby boomers, were the future. I also have a strong passion myself for natural health related products and that lifestyle, so it was a natural fit.

Here’s what I didn’t do right and you might want to do this correctly from the start.

Legal Protection Fast

I think I waited a bit too long before I formed a business structure for my entrepreneurial activities. When you start a business you automatically default as a sole proprietor until you incorporate or form an LLC or some other business entity that provides a shield of legal protection.

None of this is legal advice, mind you. It’s just me talking to you on how to start a home based business if I were to start again today knowing what I know now.

I operated as a sole proprietor for many months before I decided to look into forming an LLC for my company. Once I formed the LLC I opened a separate business account with it at my bank.

In short, there was a while there were I was legally vulnerable because I hesitated in forming my LLC, and if I were to do it again I would form it sooner and move away from sole proprietor status pronto.

Once you form your business structure, literally all of your efforts should go into marketing. Learning how to be an effective marketer is what makes you money and a lot of it.

When it comes to affiliate marketing that translates into learning how to effectively build web sites, write compelling copy for your sites, how to position the products you want to sell to establish trust with your web site visitors, how to identify good keywords that people search for in Yahoo! or Google, and so on.

Once you start to get good at this, the money will follow. Seriously. But you have to have the patience to stick it out. There will be times when you want to quit, believe me.

My suggestion here for those who want to know how to start a home based business and grow it quickly is to seek out mentors. People who have come before you and did what you want to do.

Form a mastermind group, or barring that, I suggest finding a training service that other like-minded entrepreneurs join so you surround yourself with success-oriented folks.

Doing this will shave years off of your learning curve and is probably the single most intelligent move you can make if you’re serious about succeeding in a home based business.