How do you make money at home without any experience?

Generally, you can do nothing without knowledge and experience.

Having the necessary knowledge will help you reduce the likelihood of failure and risk. With the same token, gaining the necessary experience (in addition to gaining the knowledge) to start a business will significantly increase your success rate in the long run. Only by having a well-executed strategy and getting the right success experience can you successfully start and run a long-term sustainable business.

Depending on your tolerance for risk taking, you can start a business without any experience and knowledge. 'Just do it' will be your motto.

Or if you are still working on a job, you can start a side or part-time business to learn and experience as much as possible about starting and running a business on your own. Once your business venture is making good money, you can now run that business full time by quitting your job.

If you are thinking only for a moment, it does not matter if you start your business without experience. But if you want to start a long term sustainable business, you really need to get business experience without hesitation.

Just think about the number of business failures that current entrepreneurs today suffer!

Here is the thing.

Research has shown that people who start a full-time business without experience will experience higher failure rates compared to someone who has gained some necessary experience in starting and running a part-time business while in a full-time job.

In a 2014 study, Raffiee and Feng examined how workers reduce the risks and uncertainties associated with their business activity by embarking on "hybrid entrepreneurship". This is the process of starting a business while still maintaining a day-job in an existing organization.

Starting a business can be wonderful, especially if you do not have a business. But it takes a lot of effort, commitment, and sacrifice to perform all aspects of your business effectively and in a sustainable manner.

Overall, here are some things you need to do when starting a business:

[1] Find out if you have that kind of personality to start a business. Based on personality research, only a small percentage of people are natural entrepreneurs and business owners. A large portion of the population will happily stay working on a job and will never start a business on their own.

[2] Define the type of business you want to start. Here are some options:

• An online business

• An e-commerce business

• Brick and mortar business

• Franchise business

[3] Find an idea based on the type of business you want to start. I have compiled a comprehensive list of money making ideas for you to study and get your creative juices.

This is just a starting point. Ideally, your business idea should be an intersection of the following six criteria.

• You are so excited and focused on your money making idea that you will spend all your free time working on it (even on weekends!).

• You want to create value for people and want to make a difference in the lives of people who are trying to solve their problems.

• You have desperate niche buyers who are willing and able to pay you for your unique product or service because you can solve their pain or problem points, which is the ultimate result of your online business activities. .

• You can create a sustainable income stream out of the idea of ​​making money when you decide to quit your 9-to-5 job. Always remember that you have to pay your bills!

• You have or are capable of acquiring the necessary skills and experience to build an online business without any re-education or knowledge.

• You want to align your business and work with your personal and religious factors and beliefs. Your WHY to start an online business should be clear.

[4] Based on your business idea and the type of business you choose:

1. Write a solid business and marketing plan. You may want to make a one page map of investment logic as found here. If there are no customers, your business is dead.

2. You need to find the money to invest in starting your business. Click here for some construction information for investors. An online business requires very little capital while an off-line business will cost you more.

3. Your legal and tax structures should be based on your personal and tax circumstances. Get a lawyer, tax consultant or financial planner to advise you on the best structure and strategy to use for your business.

4. Your accounting needs should be considered at a later date.

5. You will need to find a lawyer to assist you in reviewing contracts and legal negotiations.

6. Sort your personal property owner because you can be personally responsible for your business debts. Seek legal advice on how to ring the fence and protect your personal assets from potential lenders.

7. If you are an inventor, then consider getting a patent lawyer to protect your creation. It costs money to protect your intellectual property.

8. Get personal insurance to protect you and your family. Income, disability, life, and death protection are some of the options. Talk to an insurance broker for the best insurance cover for you.

Whichever path you choose to start your business, you should always think about drawing your own strategy to make money along with plans to implement that strategy.

I was always reminded of a passage in Alice in Wonderland (chapter 6). It captures the reasons why having a good strategy is so important for everyone.

"Can you tell me, please, which way I should go from here?"

“It depends on a great deal of where you want to get,” Cat said.

"I don't care where -" Alice said.

"Then it doesn't matter where you go," Cat said.

"- as long as I get to WHERE," Alice added as an explanation.

"Oh, you're sure to do that," said the Cat,

"if you just walk the length."

I learned that finding my strategies as early as possible would focus my efforts on doing the things that matter most and to earn in the future.

This quote always reminds me of a successful online entrepreneur.

"At first I failed in my quest to create a sustainable secondary income, simply because I did not have a clear thinking strategy. I did not follow a clear system. I did everything that others seem to do but did not. I really know what my main goal is. Fortunately, I do now. Even better, I now know how to focus on my main goal and more practically secure my current and future financial development. "

Your choice of strategy depends on many factors such as:

1. Your desire to succeed includes the time and commitment you want to put into it.

2. Your personality and interests.

3. The audience you write and sell.

4. Value your money or savings to fund your strategy.

Having a good strategy to start a business and make money will be the key to your success.

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I hope it helps. Good luck!