Home Based Business For Baby Boomers!
If you are looking for a home based business for baby boomers then you have come to the right place.
Some of us are still working full time while others are now semi or fully retired. I think that people in our age group are in a transition from the 9 to 5 grind to our golden years.
We are looking to have sufficient income to support our families and our leisure activities, whilst moving away from the hassles and pressures of a regular job.
A home based business would suit a lot of baby boomers as it can generate an income as well as accomodate more flexible working hours. The difficulty with most businesses is that there are considerable start up costs and financial risks.
When you are in your baby boomer years you do not want to risk much of your hard earned capital.
You want something that will not put your finances at risk and also be interesting and rewarding. Something that will make you money and give you a good reason to get out of bed in the morning.
A Business That Has Few Start Up Costs.
I think that an internet business would fit the bill nicely. There are few entry costs and you can work the hours that suit you. You may be thinking that you will need a lot of techie skills that only youngsters seem to possess. Nothing could be further from the truth. It is easy to learn how to build your own website and how to market it. It is just a case of following recognized procedures that work.
As the expression goes ” success leaves clues”.
Building an online business from your own home must be differentiated from get rich quick scams. Scams that claim that you can make thousands overnight using a fully automated system that will do all the work for you. It saddens me how alluring these scams can be.
The only person who makes money from these schemes is the guy promoting the product. Our generation was brought up with the idea that you get nothing for nothing.
The internet is just like the “real world”. You have to put some work in to get something out.
A Straight Forward Process.
However, creating a home based online business is a really straight forward process.
You initially start with what interests you. The chances are that something that interests you will be of interest to a significant number of other people. We are a global village and it is thought that 3 billion people are already online with the number ever growing.
In internet marketing your interest is called your ” niche”. I will for the rest of the post use the term niche.
Once you have found your niche you can then distill it down to something that is fairly specific that is of particular interest to you.
Think of something that people are likely to have a passionate interest in or have a pressing need for help with.
A Real Example.
The greater the need or passion the better. Let us say that your niche is cats. Millions of us are cat lovers! Cat owners are really passionate about their pets and many will spend a lot of money on cat products.
I checked out the Amazon website and searched the term ” cat products”. I found that they have 209,129 cat products listed. Therefore there is a huge market for cat related products which is great news if you were to go into this niche.
I have placed below a screen shot of my Amazon search for cat products.
As you can see from the left hand column, Amazon have lots of sub categories in the cat product market. Lets dig a little deeper and look at one category of the cats products range. I have had a look at the Cat Caves & Houses section and found that Amazon stock 92 different products.
It is good idea when you are looking at a large niche like cats to drill down into smaller niches such as particular breeds of cats or types of cat related issues.
It will give your website a more specialist feel.
I have placed below a screen capture of three Cat Cave related products that I have found. The price range for these products is between £72 and £99.90 or $108 to $150. There is clearly scope for a decent commission if you introduced via your website a buyer to Amazon.
Amazon pay website owners who introduce customers from between 3% and 12% of the purchase price. The commission varies from product to product. You can open an Amazon affiliate account free of charge. I have done a post specifically on opening an Amazon account.
How Does The Company Know The You Introduced The Customer?
In essence Amazon provide you with special individual links that you add to your website. When your visitor clicks your link they are taken to the Amazon website. Amazon do all the payment processing and despatch of the goods and deal with any returns. You automatically receive a commission on the sale.
There are no requirement for you to hold any stock or deal with any customer issues. You merely introduce the customer.
Physical Products vs Digital Products What Are Best?
The advantage of promoting physical products on your website is that you get less returns. The downside is that the commission percentage is lower than is available if you promote information products like ebooks and magazines.
Typically you will get 50% – 75% of the sale price if you promote digital products or magazines.
Below is an ebook about cats spraying that you could promote. The ebook sells for $37 and as the affiliate you would get 75% of the sale price. The creator of the product is happy because he or she would get 25% of the sale price at no cost to themselves. Software would process the customer’s payment and give the customer access to the download page.
I lifted this product from Clickbank. Clickbank could best be described as a huge online warehouse of digital products. You can for free become a Clickbank affiliate.
Marketing other organisations products and services via your website and then earning a commission is known within internet marketing as being an affiliate.
Affiliate programs are normally free to join.
The downside of digital products is that you get more requests for refunds than you get for physical products. It is a good idea to promote a mixture of complimentary physical and digital products. Digital products tend to be pitched at a price of between $17 and $47. Also it is a good idea to have products at different price points.
What Are You Aiming To Do With Your Website?
The aim with your website is to provide quality information on your chosen niche. You are looking to create a large number of web pages that looks at different aspects of your niche. There must be hundreds or possibly thousands of topics that exist about cats and their care.
You are looking to supply your visitors with information that they are searching for on the net and provide them with solutions to their issues in the form of products, services and information that they will purchase.
You are not looking to do any hard selling or be pushy.
How Do I Create Content For My Website?
You are an information provider, you are helping the visitor to get what they want. You will use knowledge that you have already on the subject as well as new information that you can obtain by searching the internet. You can gather a considerable amount of information by looking at 4 to 6 webpages on the topic.
You can then create your own webpage that contains the most interesting and informative material on the topic. You can add your own unique point of view.
With a small amount of research (2 to 3 hours) you can know more about the subject than 99% of your target audience. Especially if it is a topic that you are already interested in and have a good background knowledge of.
Building up your knowledge of the niche will also be fun and enjoyable and not a drudge. You are looking to earn money from learning more about what interests you.
It is an absolute no no to copy information from another website. If you do this your site will be deemed as a low quality site by the search engines and they will not list your site. You could also have issues with other website owners in respect of copyright.
Your research is about gathering material and facts that you will present in your own unique way.
Now Let’s Look At The Steps You Need To Take.
You need to find a niche that interests you and other people. The niche must have scope for you to be able to create lots of material that internet visitors want to read. You then need to make sure that there are products and services that you can promote within your niche.
Businesses love to have affiliate programs because they generate lots of extra sales. This is why affiliate programs are generally free to join. Once you have found your niche and products you start the process of building your website.
This is much much easier than you may think.
There is software that will do all the heavy lifting for you. All you really have to do is create interesting and engaging content that your visitors will love. The next stage is to add the content to your website and get it established and listed in the search engines like Google.
It is more than possible to get your webpages on the first page of Google.
The next stage is to add links to your webpages to products and services that your visitors would be interested in. It is a good idea to do this after you have a decent amount of content on your website.
Making Money Online!
You then come to what is my favourite part!! This is where you start earning commissions and you see your income rising month in month out.
I have found few work related things to be as exciting as making my first few sales.
To increase your income further all you need to do is rinse and repeat what you have done with another niche. The level of success that you will receive will depend on your niche. A great niche to go into is something that is just starting to trend on social media. If it is becoming a hot topic then you are likely to be in the right place at the right time.
I would also view your first website and niche to be something of a dry run.
Getting Help With Building Your Online Business.
You will be learning along the way. As I mentioned earlier in this post, success does leave clues. I would strongly recommend that you take a look at my review of Wealthy Affiliate.
This is a program that will provide you with all the training, tools and guidance that you will need to build a successful online business. I have personally been a member since October 2013 and am constantly learning new techniques for building my online business.
A huge number of the members are like us baby boomers who want to make money from home.
Here you have it, a home based business for baby boomers!
If you have any questions or comments then please leave them below and I will get back to you shortly.
Owner, Work Wise Ways Online