Home Business Trap #1: Trading Hours For Dollars

Flipping through late night TV infomercials you’ll find any number of celebrities hawking the latest business system to folks who hate their day job and are looking for an easy way into their own home based business.  The biggest trap people fall into is jumping from the corporate world into a home business that is still trading their most valuable asset (time) for dollars.  Except now they are working more hours because their is nobody else to take up the slack.  As the boss, they now have all the responsibility.

Looking around the available opportunities in the online world there’s not much difference.  Many of the supposedly good ‘online businesses’ really only offer a way for people to work from home in their PJ’s but still are trading hours for dollars.  Some examples are building small sites to sell for $150-200.  Building a site is hard work – why would you want to turn over the profit potential to someone else?  Article marketing is really a grinding way to earn a living.  Selling services on discount sites such as fiverr is really not a profitable option.

If you’re not building a system that develops multiple residual income streams you’re never going to build true wealth for yourself.

What is residual income?  In the traditional business world an example would be accumulating rental properties, allowing the rent income to pay the mortgage off over a 15 year period and then you own them free and clear and the rent income is 100% profit (well, almost – you need to deduct maintenance and taxes).

The online version of real estate is domain names and web sites.  Instead of borrowing hundreds of thousands of dollars to purchase real estate you can buy a domain name and hosting for a few dollars and with some dedicated work build a web site (or spend $50 or so to outsource).  If you build a niche site around a product that you can sell as an affiliate you can bring in $5-20 per day per site.  Once complete, the site takes very little maintenance so you can move on to the next site and before long have a network of 100+ sites working for you.  No payroll, no real estate taxes and no roofs to replace.

Building 100+ sites might seem like an impossible task if you’re just getting started.  It’s kind of like eating an elephant though – it can be done you just need to do it one bite at a time.  Your first site is going to take some time to complete.  Keyword research, finding a suitable domain name, installing your site software, theme, plug-ins, etc. and then you need to write the articles and promote.  There are a number of shortcuts that can save you significant time and money.  Before long you’ll be putting up a new site in a matter of hours instead of days.  If you’re looking for a step by step process to work through and shorten the learning curve check out the Niche Affiliate Empire video course.  This course is designed to take someone from any experience level step by step through the entire site building process.  None of the steps are difficult but just watching someone else work through the process can really be an eye opener.
For a step by step plan to your own true wealth building machine go to   http://nicheaffiliateempire.com

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