How To Make Money From Home

How To Make Money From Home - Desk in empty houseI have been working from home recently, trading my consulting time for money. These days because of technology, you can be employed full time and work from home. You can have a business that you run from home. You can sell products, sell your time, fix things, create new music, write a book, have an online business, and so many more possibilities. In this blog post, I am going to try to stir your imagination on how to make money from home.

Trading Time For Money

Probably one of the easier things you can do from home is sell your time.  You could be employed by a company or running your own business.  You could be hourly, on salary, or on contract.

For some ideas on the kind of work you could do: You could be a customer service representative, you could work for a call center, you could do data entry, you could do information technology work, you could design web sites, you could do financial analysis, or you could help someone market their product.  There are probably 100 more types of jobs that can be done exclusively from home.

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Great Problems To Have

I know that a lot of you are struggling to get your business off the ground: get your first sales, get a little growth in revenue, perhaps hire your first employee.  It is always a struggle to get things going, but sometimes you will have a situation where you will get more business than you can possibly handle.  I have written about our experience with this kind of problem, where our business growth was somewhat out of control because of being listed on Yahoo, but I have also run across another business that had the same situation.  It was a one man shop that brokered logistics services.  The owner ran across some government business, wound up selling millions of dollars, and had a very hard time dealing with it all.  Last year the company grossed between 10 and 15 million dollars with probably half of that gross profit before salaries and such.

The company has only been in business 7 years, since 2003.  The owner is an exceptional sales person but in 2000 – 2001 was basically broke and penniless.  He sold used cars to try to earn enough to support his family.  He also waited tables.  This all happened because the great MLM business we were all doing had collapsed.  Where I went back to work, he had to start again from scratch.

Today the owner of this logistics company has 7 acres of property on a river in Florida, a boat, jet skis, a golf cart to get around his property, a 2006 corvette, a brand new Cadillac Escalade, and two other cars.  He also owns several investment properties.  All of what he has is fully paid for, no debt.  Plus he has enough in secure investments to provide him with income for the rest of his life.  In fact, he bought the Escalade with his American Express.

The business now has 5 total employees: all of the labor, trucking, and other work is brokered out to other companies.  It is still a lot of work and the business has challenges.  After several years, the business may be losing the government work that made them so incredibly busy.  Since they started getting the government logistics work, they had not sold any additional work because they were so incredibly busy.  Now they must devise a strategy and build a sales team and sell again, but motivation to rebuild is definitely an issue.

If you find yourself in this kind of situation, there are people who can help.  I know that you may be an entrepreneur and a sales person, but not a business manager.  You may have a hard time trusting people because you’ve been burned.  I understand.  There are people who can help and I can definitely put you in touch with the right people to help you with your problems.  People who are trustworthy and who will really help, and will help you feel comfortable that you are really going to be helped and not leached upon.

Business consulting is not cheap but will pay dividends.  It will help you get control of your business, your personnel issues, and your business problems.  You will sleep better at night and have the time to think for 5 minutes.  The right business consultant can help you get your business growing again.  And consultants are like temps, they take no benefits and go away once the project is complete.  No need to fire them.

Selling Time For Money

In a job, you typically sell your time for money.  The employer really wants the product of your labor, but pays you on an hourly basis.  Now some people are lucky enough to also be bonused or commissioned based on the results of their efforts, but most people just trade their time for a paycheck.  In multi-level marketing, we called a job Just Over Broke, because you can never really rise above your circumstances by working harder or doing more, and you can’t multiply your “profits” by using technology or brokering the efforts of others.

In my current business, I am actually selling my time for money, but because I am more like a temporary worker, I can get a higher hourly rate and hold back money for when I am not working.  I have also sold more work than I can possibly do, so I am brokering my work out to others in exchange for a small portion of their hourly rate.  I can also get excellent people that are extremely specialized, so ultimately the client will be happier than if I had done the work myself.  It is not always easy finding the right people, but doing this kind of business means that I earn some amount of residual income from my efforts.  Residual income means that I might earn for a month, year, or five years from my efforts today.

My focus is helping my client do what they want to do and I go above and beyond the call of duty to make that happen.  But ultimately the work is performed by others.  So I can spend my time selling work and putting together deals, building my business to an unlimited size, rather than selling my own time where there is a limited amount I can sell.  Selling time for money is a great way to start a business, don’t get me wrong, but ultimately it is a dead end that you need to move away from.

Do you still sell your time for money?