The cost of living is increasing – fact. Childcare costs are soaring – fact. And employers, though they like to sound as inclusive as possible, are not always to accommodate the flexibility in work that working mums need. Now, the government is set to put their boot in with benefit cuts that will mean that many working families, particularly single mums, may have no choice but to stop working because they simply can’t afford to work.
If this sounds like your situation and you’re looking for ways to bring in some money but just can’t see how you can do it, don’t lose hope.
The first goal for your home business should be to find ways to create steady cash flow. You’ll need cash flow to operate and promote your home business, and to secure a lucrative income for yourself. There are many different ways to create a cash stream for your home business. Here are three ideas to get you started.
1. Buy a pre-existing profitable business
Even if money is tight, investing in a business that is already profitable could make a good ling-term investment. While you may not enjoy a profit immediately because of your initial financial investment, once you are able to recover from this financial outlay, you can continue receiving profits year after year.
The key benefit of buying a pre-existing work-from-home business is that you will gain knowledge from the previous owner about what works for the business and what doesn’t work. The main disadvantage is that you will have to follow in the footsteps of another person instead of building your own home business from the ground up. There’s a great sense of pride when you can truly call a business “your own!”
Websites like Flippa sell online businesses with a good turnover. You can also find businesses to buy on eBay, too. If you join the Mothers Who Work Club, you’ll also gain access to businesses for sales, as well as other business opportunities you can run from home.
2. Follow a business model that is already profitable
Another way to create a cash stream for your work-from-home business is to follow the profitable business model of another business . You can learn a lot from other business that have already been successful with a home business.
Start by looking for entrepreneurs who have owned work-from-home businesses in a field that interests you. Use their ideas and examples to create a profitable business model for your new home business.
3. Internet and network marketing makes money when done properly
A third way to create a cash stream of income is to use the internet and network marketing to your advantage. Find and join like-minded people and work with them to build a successful online business.
Network marketing is very family friendly, and you can earn money while you sleep if you organise yourself properly and use technology to help you become more efficient. Just look on social networking sites like www.twitter.com and www.facebook.com and you’ll find many examples of mums doing just that. Whatever method you choose to create a cash stream as you work from home, set some goals for your business and start realising your dreams today!
