Over the past few years, many people have made the decision to start a new home based business of their own. The tough economy has left many people suddenly finding themselves out of work through no fault of their own or those in jobs earning less because of salary cuts.It is important to remember that starting a new home based business does involve work. It is not all plain sailing and it can be confusing to know where to start and what to do to become successful. Here are five steps that you can follow to help you get started.1. Get Some Ideas Down On Paper.This is where you start to be creative. Make three separate lists. First, write down everything you ever wanted to do with a new home based business. Second, make a list of all your interests and skills. Make a third list of the talents that you have that others might need and which you could sell. Remember that a new home based business does not have to physically be based in your home. Your home business is about you working for yourself and it’s where you manage your business.2. Do Some Online Research.When you have written your lists, go onto the internet and look for websites that help people with new home based business opportunities. There are websites that will give you more ideas and help you to refine some of your ideas into more precise categories. If you enjoy writing for example, there are a number of opportunities for writers like copywriters and content writing for website or magazine articles.3. Chose One Or Two Possibilities.Now you should be able to narrow down your new home based business idea to one or two that really interest you. Your next step is to see what you need to get started in that type of business and how much you might reasonably expect to earn from that kind of business.4. Determine Your Budget.This will help you to decide whether or not you should pursue that kind of business, and also what you have to work with for a budget. Setting up a new home based business will involve some money and some funds should be kept aside in the event that things do not go as planned. Plainly speaking, not every new home based business is a success.5. Take Action And Get Started.Once your business is selected, and you know what is needed, then you need to take action and actually get started. You will need a website and marketing to bring in the customers. These are skills that you will need to learn because if nobody knows about your business, your business will not survive.

Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.

If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.

Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.

For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.

No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.

There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.

I’m sure you are most likely to be familiar with real estate. Even it you are not in real estate business, you might in on one way or customers have a friend or you know someone who is a real estate investor. What about those many classified adverts we see everyday in our newspapers or bandit signs showing us that there is a property being sold.

To bring you closer to the topic; real estate business involves buying and selling of property. The market is growing so as the property value. There is never ending demand for housing across the world-whether it is residential or commercial.

In the virtual world there exists also virtual real estate and as the name suggest the business is virtual in nature, no physical property as in real estate. While the two nearly have the same concept and leverage, virtual real estate involves creation of and building of online businesses-it involves product creation and selling. Your website is your virtual office or store. To clearly understand, compare, differentiate or make choices between the two, let us look at the following factors.

Financing and capital

Both real estate and virtual real estate you have nearly equal leverage on finances but real estate has a slight lead. Although real estate requires huge capital to start and operate, you can readily access the funding. Thanks to financial lending institutions and other private lenders. It is possible to start your real estate business with nothing down. This however comes with high interest rates. For instance, you can purchase a property worth $100,000.00, with only $10,000.00 as your down payment with&$ 90,000.00 is financed through a mortgage. Start-up capital for a virtual real estate is negligible if you can compare with real estate. It is not uncommon to find someone who which to start up his/her virtual real estate business with $500.00.

Income and value

Given the fact that, real estate business requires large sum of money to operate, so does the profit. It is only that sometimes it hardly comes. It is possible to make few deals per month and end up profiting heavily. In addition to that you can rent you property to tenants who will generate your monthly cash flow. The downside of it is that you will have to pay interest on loans, insurance and of course tax which will decimate your balance.

Virtual real estate operate on a different platform, most of the income is generated through selling of products. You can generate few dollars from each sale but if you consider those huge sales volume and lower operational cost it is possible to outdo real estate business in terms of cashflow. Moreover you can even sell your website at exorbitantly high price generating huge profits.

The value of a real estate property appreciates in a more sure and slow rate compare to virtual real estate. Virtual real estate can go either way but when it appreciates you can reap a lot. Imagine developing a web business which you cash in $ 500,000.00 from sale in just one year.

If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read the amazing, true story, in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.