Working from home? Is it possible? We share some money making strategies in working from home!

1. www.mattkohblog.com
Work from Home DAD
I am a work from Home DAD!
How long have I been in this mode of operation? 4 good years...
I believe that most dads/moms would ask the question "IS IT AT ALL DOABLE?"
Let me share some experiences of my own that can help you in making this very rewarding decision : )
There are a few key questions that the couple must ask before taking the stand to work from home. The areas
would be:
The motivation behind it
The business options available for working from home
The end goal for making this decision
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2. The motivation behind working from home
Relating to my own experience when my wife and I took the jump in 2008, the
motivation has been to spend more time with our kids (1 at that time & 1 otw...
fast forward to 2013.. 2 active boys and 1 lovely girl). It is in our belief that the
formative years of the kids growing-up years are of utmost importance and we
want to be there to mould and help shape them. It is also a reality that these
years pass very fast and once they are gone, it is not something reversible.
On the other hand, we also wanted to be involved in work that does not
require our involvement on a fixed time basis (9am to 5pm). We believe that
while the nature of a 9-5 job gives the financial security, it does not allow us
the ability to follow our beliefs. Does that mean that we will lose out financially?
I don't think so. For anyone involved in business, the sky is the limit. The limit
is not what your boss sets it out to be but what you set it out to be.
With that, we decided to quit our full time jobs after saving up for a year from
2007. (I was a Product Manager and my wife was a teacher at that time)
The business options available for working from home
Working from home automatically promotes you to the position of a business owner : )
Sounds good? Yes, its does. The sky is the limit. You are your own boss, you decide the time to work, you do not
have to sit through long and boring meetings, you do not have to be caught in the peak period traffic jams, you
shop and do groceries during the off-peak hours. The list goes on...
So what are the businesses that can make you a decent income while working from home?
1. Investment in financial markets, properties etc
As an investor, your main role is to do research of the market or work with experts to get their views on the
market. You earn by making good decisions on the capital gains or yields payable from the desired market
chosen.
Pros:
Potential for huge financial gains
Flexible working hours
Cons:
Potentially huge capital outlay required
Course fees may be required for self-education to make sound investment decisions
Risks associated with any investment vehicle
2. Real Estate Industry
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3. Real estate is a lucrative industry whereby the potential for good earnings is possible. Joining a good agency is
crucial as it can provide you with good coaching, guidance, listings and administrative support. I am a real
estate adviser and have experienced the ability to earn a good living while taking care of the family.
Pros:
Flexible working hours
Huge earning potential
Cons:
Last minute customer requests might require you to make urgent child care arrangements
Fully commission-based remuneration, no basic salary
Your earnings is based on your involvement. No automated earnings unless you build a huge team and
draw passive income.
3. Multi-level Marketing
Multi-level marketing is also a lucrative source of business where the majority of the products are household &
health-care products. The business model is built upon referrals, whereby you leverage on friends and family
members to buy into your network. Conscious efforts are required to take business to the next level reaching out
to new leads.
Pros:
Lifestyle products making the first sales relatively easier
Flexible working hours
Cons:
Can be time-intensive as much prospecting via cold calling is required
Commission model is only a percentage of sales
4. Online business
This is a very broad area in itself. There are many avenues in which one can make an online income. In some
cases, people have made very good incomes totally from online sources. This industry also has its fair share of
scams mainly coming from "get rich quick" schemes promising overnight success. This cannot be further from the
truth as efforts and persistence are required and the fruits of success can be very rewarding.
Pros:
Flexible working hours
Can work from anywhere as long as you have an Internet connection
Scale-able models for success
Cons:
Beware of the many scams that wants your Money so they can "get rich quick"
For myself, I am involved in marketing a viral blogging product that pays me 100% commission on a
recurrent (monthly) and a one-off basis. Compared to many affiliates that only pay a fraction of the sales, I get to
keep all that I sell! Not too bad huh : ) To add on to that, you also get to earn from the associates that have
signed up under you making it a tremendous source of passive income. You can find out more about the
product here.
The end goal for making this decision
Always begin with the end in mind. (The famous quote from Stephen Covey)
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4. What you want to see as a result of this decision you make is important. The desired end result will keep you
focused when the going gets tough.The stress that comes from building up your finances and the challenge of
managing your time with your work & family (dual role) can be overwhelming at times. It's good that you have
friends that you can talk to on this journey and also having a spiritual backing is of utmost importance.
At the end of it all, it is going to be worth it seeing your goals come to pass.
To your abundance,
Matthew Koh
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