A new week and a new memory verse:
I combined these three posts because I already have started working from home and have since 2008. My business is called Homepage Design & Support, but I am honored to be part of the team at Christina’s home business, Va-a-gogo, as well. Donna Partow suggested some factors to consider before starting a business venture in her book. I used those to evaluate my business, as well as what I do with Christina – and I have to say, I feel they are both wise ventures. Here is why I feel that way:
- We can train others to work for/with us in both businesses, giving us LEVERAGE.
- We each have our own areas of strength and we each have our own websites. This gives us CONTROL, although I would like to take some time in the coming year to launch my training products, so I can start establishing some passive income as well.
- Both HDS and Va-a-GoGo require us to use a bit of creativity – in our planning, thinking, and completion of projects. Being able to use CREATIVITY is another key factor to a wise investment.
- All of the work that I have gotten at HDS – and I believe the same is true for Va-a-Gogo – has come from Word-of-Mouth “Advertising.” We are always busy, so imagine if we actively marketed our businesses to pull in work? Whew – that would generate more work than we would need, which might be too much right now. BUT, that gives us the ability to grow indefinitely, giving us the EXPANDABILITY factor.
- At both HDS and Va-a-Gogo, the amount we earn is based on the amount of work we put in. That gives us PREDICTABILITY in our businesses. We know the reward that will come from putting in a certain amount of work. The more we work, the more we can earn.
So, with LEVERAGE, CONTROL, CREATIVITY, EXPANDABILITY, and PREDICTABILITY, we have an excellent start with our businesses.
In these lessons, the author further suggests in establishing good streams of passive and residual incomes. I need to pray and think some more on these. I know I can create my training materials to help generate a passive stream of income, so I am planning on moving in that direction, unless the Lord leads me in another direction. For a residual income stream, network or direct marketing is suggested in the book. I have attempted both of these in the past, on more than one occassion, but they did not work out for me. So, prayer and seeking God’s guidance is my plan for this area.