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Hot Work From Home Ideas
Each year millions of people earn extra income working from home, apartments or dormitories. Whether you are a stay-at-home mom or dad, a student going to college, a retiree or anyone looking to increase their monthly income ... there is a program for you.
The only requirement for the ideas reviewed below is that you have access to a computer with an Internet connection.
Work from Home - Online Auctions - eBay
Annual income: $150,000
Degree required: No
One business area that has so far been "recession-proof" is the huge online-auction marketplace. And in this land eBay is the undisputed King-Kong.
At the end of 2003, eBay boasted 95 million registered users who traded almost $24 billion in goods. With numbers like these it's easy to see why so many entrepreneurs are setting up shop on eBay.
Perhaps it was put best by Janiece Smith in her remarkable eBay book How an Overworked, Traveling, Soggy Sandwich Eating Dental Hygienist Made $11,212 a Month Online. Says Smith, "Where else can you start a business with virtually no money, and have access to 86 million+ proven buyers right from your own home?". Smith continues, "You can work as much as you want, whenever you want, from any location, all the time generating cash profits 24 hours a day".
Apparently Janiece is not the only one who sees eBay as a cash cow, as many people are turning to this online juggernaut as an easy way to make extra money. In fact, an ever-growing number of people have jettisoned their regular job and are now supporting themselves entirely from their eBay business (400,000 according to Meg Whitman, CEO of eBay).
It's been estimated by some that eBay will continue to grow 25%-35% per year for the foreseeable future, making this business hot not only for 2008, but for many years to come.
Work from Home - Online Affiliate Marketing
Annual income: $170,000
Degree required: No
Did you know that big companies such as SONY, Gateway, Weight Watchers and Amazon.com will pay you for promoting their products? If not, then welcome to the exciting world of affiliate marketing.
A little while ago these brand-name companies, and thousands like them, discovered that they could greatly increase their corporate earnings by paying a commission to people ("affiliates") who direct customers to their sites. When a customer buys a popular item from one of these sites the company pays the affiliate (you) a commission. These commissions can go as high as 50% - 75% of the actual sale. The commissions are high because the number of sales are greatly increased. The companies have enlisted the online community as their sales representatives.
In 2007 this business exploded. Entire networks sprang up solely to administer these company's affiliate programs and commission payments. People were making so much money that tax ids had to be captured to appease the IRS. As big as this was in 2007, all projections have 2008 being much bigger as more and more companies get involved.
The startup costs for this business is the price of a home computer and an Internet connection. Since many people already have these items, this is an especially attractive side job or career for the "work at home" crowd. All the information to start this type of business can be found by searching for and reading the many available documents. Alternatively, there are some very good resources available that have compiled the pages and pages of pertinent information into a "how to" guide. Rosalind Gardner's Super Affiliate Handbook is generally regarded as the best single-volume source on this business. A new book by author Brian Wynn called The Millionaire League
covers much of the same ground, but adds a few interesting ideas. Brian's book also assumes a working knowledge of the Internet.
One of the most challenging aspects of this business is how to advertise these companies and their products. There are many ways to do this, but the idea should be to get as many people as possible to the companies sites. The more people you get to a company's site, the more sales you will generate, and that translates to commissions. Again, a clever entrepreneur will be able to find a lot of options by reading whatever they can find on the Internet. If you're strapped for time because you already work full-time or are busy with kids, you can get tips on how to place free ads from several sources. Guides such as My Free Ad Tactics can show you how to place up to 1 BILLION ads online for free. There's nothing like free advertising.
If you don't mind working largely by yourself, then online affiliate marketing could be the hot job for you in 2008. |
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