What’s a good free home business idea? Seems to be a growing question I’m seeing a lot more these days, people are getting tired of the classic 9-5.
If it’s wanting to spend more time with your family, having better job security, or they just can’t stand their bosses, whatever it is, people want out!
I mean who wouldn’t want that? You can work from home, be your own boss, wake up when you want, work when you want, it’s the American dream!
The thing with this is, most business models aren’t necessary cheap to start up, not everyone has a few thousand just laying around for a costly business start up.
- Purchasing equipment or software that might be needed to keep your business up and running.
- Hiring employees for different aspects of your business you wouldn’t’ have time for.
- And if it’s a physical product business you’ll have to be purchasing inventory regularly and can be pretty costly to start up. (I actually know this first hand)
It can all get a bit overwhelming for anybody, especially those inexperienced with how to run a business.
So why am I telling you this? I’m trying to bring to your attention that not just any business model will do, you want something that can be done from home, and is free to start up.
Might not seem like a lot to ask but like I showed you earlier it does narrow down your choices, so lets start evaluating your options.
Evaluating Your Options
Something that can be done from the comfort of home that won’t bankrupt you trying to get it started so that means no pesky inventory, or costly software, so what’s left?
There’s PTC programs, freelance writing, photo editing, the list goes on and on but their are some things that should be taken into consideration also, as to why some options may be better than others.
Besides the aspect of a free home business model, their are two other determining factors as to why something is or isn’t going to work out.
Time and Money. Time clearly is going to play a role in anything, you put more time into something you get better results, it’s simple.
But even with this being said we want to make sure our time is used wisely, meaning we want to be putting in hours worth of effort while getting pennies in return, there would be no point!
So what do I recommend for a great beginners free home business idea?
Affiliate Marketing! Without trying to sound like some corny infomercial, really is the best route to go in for a business model needing to fit these aspects.
- It’s free to start up.
- It’s not impossible to learn.
- Would take a fraction of the time your current job takes out of your day.
- A couple hours of work a day or every other day can generate a good profit in return.
- and it can all be done from the comfort of home on your laptop!
So what is it and how does it work? Let me give you a little run down on how it all works without trying to bore you to death.
Affiliate Marketing 101 | How It Works
Before we get into the details of everything, let’s answer the initial question,”what is affiliate marketing?”
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
To break it down, you sell (“market”) other people’s products by referring people to their product or sales page, the visitor makes a purchase, and the seller gives you a percentage of the sale for getting them the customer, simple!
You Refer-> Customer Makes A Purchase -> You Get Paid!
You don’t have to handle inventory, customer service, none of that, your sole purpose is to bring potential customers to the seller. Pretty much as simple and effective as it gets in the business world.
Affiliate marketing in itself can be broken down into 4 simple steps.
- Choosing an Interest– This can be anything from a hobby, past time, a passion of yours, practically anything!
- Building a Website– Don’t freak, it’s not as hard as it seems, and I got you covered!
- Getting Rankings & Visitors– Essentially the backbone of your business, these will be your potential customer base for your referrals, so more rankings & visitors more $$$.
- Earning Revenue– I think everyone’s favorite part, this is the $$$ phase where you get paid for your efforts!
This is more than just a little side business, thousands of people all across the world earn full time incomes from affiliate marketing, think about it! How do you think all that information on the web got there?
Someone had to write it and they’re not doing it for free!
Every time you clicked an ad, link, related post, or bought something through a link they offered, they’re making money!
So now that we’re a little more familiar with the process and how it works, lets talk opportunities.
Opportunities | Choosing An Interest
The great thing about online business is that you’re not limited like most enterprises, what I mean by “limited” is you’re not stuck in one location with a certain customer base.
With online business you can tap into potential markets and customer bases you would have never been able to with a physical business.
You’re business is apart of one of the fastest growing industries in the world, the internet! So fast in fact that we are projected to have over 3.8 billion users in the year 2020!
That’s almost double what it is now in the year 2016!
With every new user, is a new opportunity and potential customer, that’s a huge customer base to have for a business! So if you find anything that has that same kind of growth and potential be sure to let me know because I’ll be all ears!
Like I mentioned earlier your opportunities with this business model can be almost anything, a hobby, passion, something you do for a pass time if it’s gaming, working out, golfing, whatever, the options are almost limitless!
What you pick will be the overall theme of your site and the kind of products you’ll be promoting. ex. golf website = golfing gear, gaming website= gaming gear, simple!
Here’s a few examples to help get those creative juices flowing.
As you can see it really can just be about anything, almost any category can be profitable and will have tons of options for potential promotion, and can be turned into a lucrative business.
Now lets get into the meat of your online business, your source of potential income, product promotion!
Promoting Products | How It Works
This is where 2 and 2 come together, where you making a website and putting information on the web to you making money off it.
You could have the best looking website in the world but you’re not going to make a profit unless you have some type of product or service to promote. People aren’t just going to give money away, they are going to want something in exchange.
Where do you come in? Have you ever wanted to buy something online but were hesitant about going through with the purchase because you didn’t feel like you knew enough information about the product?
So you probably went online and searched (product) review, or (product) specifications, something along that line looking for more information or someone else’s take on the product.
You maybe even made a purchase of that said product through a link that the site or writer provided you. You made them money, they provided information you thought was helpful and in return you used one of their links to go purchase the product.
That’s where you come in, you create engaging and helpful information by creating reviews, giving your opinion, writing articles, giving these people quality content and in return they use your links to purchase the product.
So where and how do I find these programs to promote these products? They’re called affiliate programs and they’re essentially going to be the lifeline of your business.
Affiliate Programs & Earning Commissions
So if this is a first for you, let’s just clear the water by explaining exactly what an affiliate program is from the very beginning.
An automated marketing program where a Web advertiser or merchant recruits webmasters to place the merchant’s banner ads or buttons on their own Web site.
They’re essentially programs put in place by companies or sellers that offer affiliates like ourselves a percentage of the sale price in exchange for promoting their product and getting them the sale.
Kind of like the seller giving us our slice of the pie for putting in the work on the front lines.
There’s practically an affiliate program for almost any program or product out there. A good way to find these said programs is by simply going into google and searching (product or program) + affiliate program, and you’ll turn up thousands of results.
Here’s a little example I did for you on affiliate programs for all you gamers out there. Turned over a little over 3,ooo,ooo results just for gaming alone!
So clearly no category or direction is to small or narrow, you have to remember that we are online now, you have access to a global marketplace, you’re not just some shop down the street.
A personal favorite of mine is Amazon’s affiliate program Amazon Associates, it’s free to start and easy to use so it’s great for beginners. Everyone’s heard of Amazon and there product selection is HUGE, if you’ve heard of it, Amazon most likely sells. it.
Once you get signed up and start promoting, you’re going to start hearing the word commission a lot.
Commission is just another word for what your percentage of the sale is gonna be, your slice of the pie per say. They can range anywhere from 1% all the way up to in some cases 70 or 80% all depending on the program or product so there’s never really a set number.
Of course the higher the better in our case, but you don’t want to short quality for a higher commission meaning don’t promote a crappy product just because it offers a high commission.
You want your readers to trust you, not view you as another person trying to make a quick buck, so choose wisely.
So how do you get started?
So you want to start a business from home?
If you’re serious about using the free home business idea I gave you here today you’re going to need some training, and not to mention a site to get you up and running!
You should check out where me and thousands of other successful Affiliate Marketers got our starts, Wealthy Affiliate!
Find all the training you’ll need from website creation, to creating quality content that converts to sales.
Not only will you get access to top level training, you’ll also get access to the amazing community inside where you can message and chat with thousands of successful online business owners.
Even myself, yep, you can find me inside helping newbies start their first online businesses!
Wealthy Affiliate took me from a broke college kid scraping for change, to a full time business online business owner, and they can do the same for you!
If you want to learn more or just a little curious, feel free to click the link above or the banner below to give it a look and see if it’s right for you.
If you have any questions you need answering or just want to chat, feel free to drop a comment below and I’ll get back to you as soon as I can!
P.S. We have a serious Taco Bell addiction and the affiliate links on our site lets us order off the dollar menu. Thanks for your support!