Check out my website for cool stuff and opportunities www.mypersonalcashcow.com/hollingsworth3593

381 views

Published on

For great articles , see my website...www.mypersonalcashcow.com/hollingsworth3593

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
381
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Check out my website for cool stuff and opportunities www.mypersonalcashcow.com/hollingsworth3593

  1. 1. ==== ====See an aray of great items and ideas go to my websitewww.mypersonalcashcow.com/hollingsworth3593www.mypersonalcashcow.com/hollingsworth3593==== ====Right lets talk about money - specifically what is the cost that you realistically need to start up asuccessful home business opportunity?Im going to cover as many different opportunity areas as possible and give you an indication ofthe typical fees and cost to start your own home business opportunity, based upon feedback andpersonal experience.So, in no particular order, lets get stuck in.The potential cost involved when you start a home business opportunityFINANCIAL SPREAD TRADINGIts a hot topic right now (especially Forex trading) and here are plenty of systems, software andtraining seminars out there. First off, you MUST accept that any money you put into trading has tobe money you are comfortable losing. If you are in any way emotionally tied to the money you areusing, then forget about making reasonable trading decisions.Also, it would be wildly irresponsible of you to use emergency or rainy day money. No matter howtempting it might be, do not take out a loan or remortgage the house (yes, people do considerthis!).From the hundreds of systems I have come across, I would say that the bare minimum required totrade would be 100 (this is in addition to the cost of the actual trading system which Ill get on tothat in a moment.). And thats a best-case scenario where you are being closely trained. If you aregoing it alone with a piece of software or trading system, then a more realistic starting pot wouldbe £500 or preferably £1,000. Why? First, if you are following a sensible staking plan then youwont be risking more than around 3% per trade. Now, it only takes 10 losing trades in a row(which is entirely possible), to wipe out a big chunk of your bank. So you need enough in there totrade another day.Bear in mind that most spread betting companies will require you to stake at least £1 per point,so if you were to have a stop loss of say 10 points, your maximum loss would be £10. If, you arerisking 3% per trade, you would need at least £300 to cover yourself.Also consider the compounding issue - the more you have to start with, the higher your stakes andthe sooner compounding can really kick in and grow your bank.
  2. 2. So what about the cost of trading systems? Right now, the range is huge. Yes, you can pick upstrategies for as little as £50 all the way up to £6,000+. Is the £6K strategy any better than the£50? Maybe but then again maybe not.Expect to pay much higher price for software. As you would expect, there is a higher cost ofdevelopment as well as a higher perceived value. Like anything, you often get what you pay for.When making a decision, I would always make sure there are plenty of testimonials from previoususers plus an unconditional money back guarantee period.Also factor in your ongoing costs such as data feeds and the spread.SPORTS BETTINGVery similar to financial trading. If you are taking it seriously, with a strict money management andstaking plan, you need at least £500 - £1000 to cover losing runs and ensure you are stakingenough per bet to build your bank. If you are only making a couple of quid from each successfulbet, then its important that you reinvest those winnings and increase your stakes accordingly.Obviously, the more you start with, the greater the compound effect.How much should you expect to pay for a tipster? Industry standard seem to start around £25per month, going all the way up to around £90. Always take into consideration with anysubscription tipping service (either financial or sports betting), that you need to recover yoursubscription fee BEFORE making a profit.Tips on selecting a tipster? Again, plenty of testimonials, a transparent track record plus someform of unconditional refund policy. Also, expect the worse case scenario that when you join youmight be in the middle of a losing run. This happens even to the best tipsters. But if you choosewisely and look to the long term, then you should come out winning.PROPERTY INVESTINGBefore the credit crunch you could raise finance for property investment with virtually no moneydown. Today, you havent got a chance! With the squeeze on credit markets, lenders are lookingfor a big deposit - 25% or more in some cases. So unless you have a chunk of capital or considerpooling your money in a property syndicate, its not something I would advise... at least until ratesand deals become more favourable.INFO PUBLISHINGGaining resale rights for information products (manuals, DVDs, audio sets etc) and selling them onor offline continues to be a big draw. And rightly so, as the business model is proven and thepotential profits high. But what are the real costs? If you want the quick route, then buying resalerights can cost anywhere from 100 - 10,000 depending on the quality and exclusivity of the title. Ofcourse, plundering the public domain for copyright-free material costs nothing but your time incollating, editing and formatting.One thing that you will have to face at some point (and this goes for many businesses that rely ononline or direct response marketing) is the cost of copywriting.
  3. 3. Copywriting continues to be one of the most important and valuable skills.Good copy can make the difference between a million pound profit and failure. Yes, its thatimportant! And yet, it is the one area that most people entering into info publishing completelyunderestimate. A decent middleweight direct response copywriter is going to charge at least 2,000- 3,000+ for an 8-12 page promotion. And even then, you have absolutely no guarantee the promowill work.Over the long term, I would strongly recommend that you consider learning the basic copy skillsyourself, even if it is to give you experience in reviewing other peoples copy, it would be time andmoney well spent.Oh and if you are putting together any form of hard copy publication, then an experienced layoutMac operator is going to charge you at least £20 per hour. Though you can sometimes putsomething together yourself with Microsoft Word templates...but itll take a lot of patience!List rental: if you are going down the direct mail route, rentals of quality lists start around £150per thousand and you would usually be expected to rent at least 3,000 of any individual list. In myexperience, you cannot launch through direct mail (at least in the business to consumer market)without testing a minimum 10,000 names - which would allow you three list tests. If youre onto awinner, then youll generate say a 2-4% response rate based upon a sub £100 product. For alaunch mailing you can expect to pay around 600 per thousand mailed, so your upfront costs(excluding product fulfillment and copywriting) will be at least 6,000.Of course, you dont have to go down the direct mail route... you could test off the page or onlinewith whats known as a 2 stager: so your small ad leads to either an online promotion or a requestto be sent a hard copy.Setting Up a Website:Whether you are selling your own products or creating a site to push traffic to affiliate links, theprice of creating your own website has come down a lot in recent years. Its now possible to gethosting, web templates and a domain name for less than £100 all in. I wont go into the details ofhow here, but a couple of spare evenings and even the most technically challenged could have abasic site up. Of course, the trick is not the website itself, but how you drive traffic to it in the firstplace. If you already have a list of clients, then make sure you have their email addresses andsend them a regular eletter with links to the site.Search Engine OptimisationAgain, this is spawned a lucrative mini industry with consultants and ebooks and seminars allpromising to reveal how to get your website high up the Google rankings. Now to be honest,theres really no big secret to making a website attractive to the search engines. Youve got to fill itwith quality editorial copy that delivers go advice around a specific niche area. The more relevantcopy you have, the more attractive your site becomes to the likes of Google.The other secret is simply to get as many other high quality websites linking to your site. This is
  4. 4. seen as evidence that your site contains quality and relevant material for prospective searchers.Neither adding editorial or linking necessarily costs money BUT it will take a time - perhaps 6 - 12months of regular graft before you see any results. By all means go research about keyworddensity and all the other technical issues, but dont be tempted to splash out thousandsunnecessarily!Online advertising: much has been written about Google AdWords. Depending on your keywordsyou are bidding for this could be anywhere from pennies to 10+ per click. Despite what manyInternet gurus would have you believe, this is a hugely difficult and challenging route and is bestapproached with extreme caution. Your daily budget can get gobbled up very quickly and if youare not converting visitors well, then youll soon be out of pocket.SHORTCUTS: I bang on about joint ventures all the time and they really are the best way toleverage your time and money. You can gain exposure to your product and build a valuable list ofenquirers and buyers through some shrewd JV partnering.eBay: zero start up costs!Yep, you can register as a seller with eBay for free (you just need to give your credit card detailsthough). Start by selling unwanted items you have around the house. Factor in your shipping costsin the auction details. You pay an insertion fee per listing - this starts at 10p for auction prices upto 99p through to 1.30 for auction starting at 100+. You also pay a Final value Fee to eBay if yousell the product - this is calculated on a sliding scale, starting with 5.25% for the first 29.99 down to1% on anything over 600. Take a look at http://pages.ebay.co.uk/help/sell/fees.html for fullbreakdown.FRANCHISINGA huge industry that offers a well-established route to buy a proven business off the peg. I wontgo into details here, but prices for franchises can range from around 5,000 - 250,000 and thatexcludes operating capital. A great place to start is the independent British Franchise Associationhttp://www.thebfa.org/Bottom line: What should you pay for an opportunity? I have seen brilliant opportunity productsand services sold for 20 and outright scams peddled for 5,000. Problem is, the best low pricedopps tend to be run by people who are not marketers, so you need to keep your eyes peeled!For more free home based business opportunity advice visit What Biz Opp?Article Source:http://EzineArticles.com/?expert=Katherine_M_J_Mason
  5. 5. ==== ====See an aray of great items and ideas go to my websitewww.mypersonalcashcow.com/hollingsworth3593www.mypersonalcashcow.com/hollingsworth3593==== ====

×