Intro & Summary
How to start a small home business.Welcome back. I’m Ted Thomas and for the past 30 years, I’ve been involved in a home-based business. Now in this episode, I’m going to reveal several ideas and show you a lucrative small home business that generates six-figure income if that’s what you like to earn. If you want to earn a six-figure income, stay tuned because I’m going to show you how on this particular video episode.
What You Need To Start A Home Business
It’s not unusual but the United States Small Business Administration keeps some pretty darn accurate records and they reveal that 50% or more of the businesses are small businesses. So, that’s an important part of our economy and that’s where you’ll be getting started.
So, that also means that it’s going to be competitive so, you want to have a business where you can make money right away. I’m going to show you that today. Now, this episode is going to give you dozens of possibilities. I could take a lot of time to discuss a lot of small businesses but I’m not going to talk to you about pet sitting, making chocolate cakes, or 65 or 100 other small business things that you can do from home.
They’re all time-consuming, they don’t make enough money, I’m going to talk to you about making serious money which is where I started. I believe that you ought to be able to make a hundred thousand dollars a year working from a quiet small business and in your home.
Everyone should be able to do that. Now how are you going to learn an income-producing business? You’re going to learn that from someone else or you’re going to get experience working from someone else or you’re going to go and study. But getting started means you first need to start with inventorying your skills. What are your skills? What are your talents? Do you already have a profession? Do you already have a craft?
How To Start A Small Home Business
What are you willing to do about that? Do you have some things that are transferable to the business you’re going to go in? The whole idea is you need to either create those skills or you need to get someone to help you with them. All right creating those is more important than getting a helper right away.
Why? Because you want to know what you’re doing to be in this small business. Now, small business is not complicated. It’s doing two things, two very important things. One is solving problems but two is solving problems that people will pay you to solve.
So, you don’t want to just be problem-solving for whatever, you want to solve problems for other people. People will pay you if you can solve their problems and I’ll demonstrate that today, how the local government in your county will pay you if you’ll help them solve a problem.
So, I’m a business guy so I’m going to get you involved and suggest you get involved in the subset of the real estate business. Now, what’s the traditional real estate business? It’s homes as you know, real estate brokers agents, and whatever. It’s also residential buildable lots, it’s sometimes small farms, sometimes small office building but it’s mostly homes.
How To Invest In Tax Liens & Deeds
All right now this business has been around for decades and what I’m going to show you is a subset of that business. All right now it’s possible with a little determination and concentration for someone to make twenty-five thousand, fifty thousand, even a hundred thousand dollars working from home part-time in this business of tax liens and tax-defaulted property.
Now, I’m not the guy that’s gonna tell you about start us sewing an alteration business at home, I’m not going to try to tell you to save your way to wealth, I’m not going to tell you to park your car so you don’t spend a lot of money on gasoline. I’m going to tell you let’s go out and make some money.
So, what are we covering today in this episode? In this episode, I’m trying to answer the question best I can, how to start a small home business? Okay, now I’ve been teaching and guiding people for the last 25 years. All right for 30 years, I’ve been involved in real estate which is a subset of the traditional real estate and I call it tax liens and tax deeds.
What To Remember When Buying Properties
All right now if you want to make real money, you’re going to have to get some people to help you out. You should think about having a coach, a guide, a mentor but you certainly want to go to experienced people. Don’t go out and make a lot of mistakes and invest your money and not know what you’re doing.
Now, you don’t need to spend a lot of money on a fancy office. You can put up a desk in your garage if you want or you can start with a small bedroom. What you need to do locally is kind of check the laws, check out with the homeowners association where you live, or check out with the county.
Find out if there are any rules. Sometimes the county or the city will have environmental rules and noise rules, you want to find out if it’s okay to have a business at home. In most cases today, you can have a business in your home but you have to be cautious of how many people are going to park there and things like that. I mean you’re not going to be able to work 35 people out of a home office, that’s not going to work but you’re getting the idea.