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Richyrich

Three Things No One Ever Tells You About Choosing the Best Home Business

Are you wondering how to choose the best home business from all the choices in the marketplace today? I used to think that some people just got lucky and were in the right place at the right time. But I have found that it really isn’t based on luck. Finding the best home business requires thought and some research but you only have to focus on a few things. When it comes down to it, there are three things no one ever tells you about choosing the best home business.

1. Passion for your product

One of the first factors to consider in choosing your best home business is passion for your product. Can you love and use the product yourself? When I started my first business I did not understand how important passion is in building my business. I did not love the products, and I didn’t personally use them. I could not share from my own experience and found it very difficult to share them with passion. Because of this, I was not able to convince very many people to use my products. I was missing the WOW factor because I had chosen the wrong product for me and could not turn it into my best home business.

I had chosen an oil additive but because I didn’t know too much about how the product worked and I was afraid to put it in my own car. I couldn’t convince my friends to try it, either. Even though I failed at my first business, I was not willing to give up looking for the right business for me. I began to research on the Internet until I found a product I could both love and enjoy sharing to build my best home business around.

2. Team for Support

Does the business you are considering have great training and mentors? Finding a team for support is the second most important part in looking for your best home business. Without great mentors and a plan that is proven to work, I find that I just stumble around and it is difficult to figure out what to do next.

mentorToday, with the shift from meetings and parties to the Internet, I have found it very challenging because there is more to marketing on the Internet than putting up a website. How do you get anyone to find you? I have had a generic website with a unique product that I have passion for, and a product you can only get through a distributor that has great demand in the marketplace, but my website does not generate any business unless I pay for ads or buy leads. I discovered that without training in this new way of marketing, I was not making any money.

Having a team of mentors with step-by-step training is a must if you are going to be able to train your business organization quickly and efficiently. Thousands of people are losing their jobs and are looking for their own best home business. However, many will need to learn a whole new set of skills and they are looking for help and mentoring. Finding your own success team who provides support and training to build your best home business is a must.

3. Your personal ethical and moral code should match the business

Passion about your product is important and having training and mentoring is important, but unless the business matches your personal ethical and moral code, it will not be your best home business.

One of my core values is to make a difference in the world—to have a positive impact. My best home business needs to include a way that I can really make a difference in someone’s life. Another core value I have is honesty and integrity. Unless my business honors this value, I know I will never be successful. So when you are choosing your best home business, look for a business that honors your values and your moral code. Then you will love your business and it really will be your best home business.

Finding the best home business for you can be challenging, but you are already on your way. You have learned about three things no one ever tells you about choosing the best home business. With this knowledge comes the power to build your the best home business.

Find a product you love and can be passionate about.
Look for a team that will support you with training and mentoring.
Honor your personal ethical and moral code in choosing your business.

Enjoy the search and get started ahead of the herd. Thousands are joining the best home business movement every day. Using this formula you will find the best home business for you.

What You SHOULD NOT Do If You Lose Your Job

get-jobsMost of us know people who have lost their jobs and are struggling to make ends meet. With the unemployment rate currently at 6.2% and projected to rise as high as 7% in the months ahead, the next person to lose their job could be you.

If you’ve lost your job, it’s time to tighten your belt and develop a plan for the months ahead. These five tips will get you started:

Apply for unemployment benefits

Unemployment benefits are a federal-state program that provides financial benefits to people who have lost their job through no fault of their own. Receiving unemployment benefits is not automatic, but must be applied for by the applicant.

Not everyone is eligible to receive benefits, but that shouldn’t stop you from asking. This handy link of the US Department of Labor will help you find the unemployment office in your city. Applying for unemployment benefits should be the first thing you do after losing your job.

Apply for food stamps

Groceries can take a enormous chunk out of your budget, and for low income or out-of-work individuals and families, the USDA food stamp program can help. Food stamps aren’t just for the homeless but also for the unemployed, under employed or low income earners, and the disabled. This link from the USDA is a great resource for understanding how food stamps work, who may qualify for food stamps, and where to apply.

Since it can take up to six weeks to start receiving food stamps, it’s best to apply as soon as possible.

Enroll your children in CHIPs

CHIPs is the Children’s Health Insurance Program, a children’s health program that is run by the state where you live. CHIPs can help pay for doctor and dentist visits, immunizations, hospital care & services, and so much more. If losing your job meant losing your family’s health insurance, then a program like CHIPs will help. To get information about the CHIPs program, dial 211 for the community resource database or Google search the name of your state and the acronym “CHIPs”.

Seek out food banks and food pantries

Food pantries are direct distribution centers where low income families can receive emergency groceries at no cost. Most pantries will provide a day or two worth of groceries and will also point you in the direction of other area food pantries. Food pantry volunteers can also refer you to free health clinics, tell you where to find free clothes or free holiday meals, free Christmas toys for the kids, and more. To locate food pantries in your area, call The Salvation Army, any of your area Catholic or Episcopal Churches, or Google search the name of your city and the phrase “Food Bank”.

Evaluate your spending and learn to live “poor”

Learning to live “poor” means evaluating your spending and learning how to get by with less. As much as we’ve become accustomed to having lots of toys and other little luxuries, when times are tough, getting rid of those unnecessary expenses may be the only way you’ll survive a period of unemployment without compromising your assets.

Expenses to do away with immediately should include such things as cable TV or a satellite subscription, excess cell phone features, gym memberships, daily newspapers, eating out, paper backs and magazines, junk food, DVDs, and all those little things that you buy without thinking. Cutting utility, transportation, and grocery costs should also be part of your new strategy for lowering expenses. The money you save by living “poor” should be socked away in a savings account to be drawn upon when your family is faced with an expensive emergency, or worse yet, when the unemployment benefits run out.

Reducing Our Expenses and Frugal Living

If you are new to frugal living, I would suggest doing a Personal Savings Recap. In other words, review your efforts to reduce expenses, say over the past 3 months, and figure out exactly how much you are actually saving each month. To me, this becomes more of an empowerment tool… a sort of pat on the back on my behalf for the effort I have put into saving more money. Personally, we have made many changes over the past 3 months that are really adding up! Without these cost-reduction strategies in place, we know we would not be able to work towards our goals in an effective manner. Below is a list of major methods we have been able to use to reduce our expenses.

Groceries and Restaurants – Groceries, for us, were probably the area in which we were throwing the most money away. We were purchasing non-filling foods with high cost to nutrient density. The first step was to stay away from the middle aisles and shoot for the perimeter of the supermarket. Recently we switched to shopping with a ‘plan’. Instead of just going shopping for the foods we like, now we actually plan all our meals for the week in advance. It is estimated that between 8 and 12% of the food we buy ends up in the garbage can! We have dramatically reduced our wasted foods with our meal-planning strategy. In addition, we don’t hit the fast food as much for lunch or supper. Estimated monthly savings = $174!

Paying Off College Loans – We were able to essentially borrow money from ourselves to pay off some of our smaller school loans. By doing this, we were able to free up monthly expenses to put towards the down payment of our house. Estimated monthly savings = $120 (3 college loans averaging about $40 payments)

Credit Card Balance Transfer – We were about $3000 in credit card debt. When we decided to move I was unable to get a steady job for the 2 months, although I did plenty of small jobs. The costs associated with moving and renting an apartment are not cheap (moving truck, gas for moving truck and two personal vehicles, application fee, deposit, pet fee, first month rent, utility company charges, etc.). Therefore, the credit cards went up to $5,000 on a mixture of 3 cards. One of these cards was actually at 27.99% (massive!) which was due to a couple of late payments in college. Our new bank offered an interest-free credit card on balance transfers until the beginning of 2010. The math suggested that it would be cheaper to pay the $300 transfer fee than to keep paying the high interest rates on our credit cards. Since then, we have been able to pay down our ONE credit card to $3500. Estimated monthly savings = $100

Reduced Cable Bill and Switch to Netflix – This one was a tough one for us at first, until we realized how much we don’t watch TV. We were paying $67/month on our expanded cable package. By switching to basic cable ($13) and signing up for Netflix’s 3-out-at-a-time service ($18). We were able to save quite a bit per month…and we actually like our situation better! Estimated monthly savings = $35

Car Insurance Policy Change – Moving away, we decided to go with a new insurance company. . . Wow! I didn’t think it would be this substantial of a savings. With SafeAuto, auto insurance was nearly $200 alone. By switching to Geico, our auto insurance shot down to $113 per month. The coverage is better, also. Paying the 6-month premium upfront also saved us money. Estimated monthly savings = $95

*The following changes have definitely saved us money, however, it would be immeasurable. This could come in the form of paying bills online, changing daily habits to save a buck or two here and there, and just having a better understanding of our financial situation

Tracking Expenses – This change has been huge for us. Together with Mint.com and spreadsheets, we put all of our financial information together. This gives us a clear and concise view to see if we are heading in the right direction financially. Without this step, all of the other steps would not have been possible!