Recently more and more people I connect with have been asking me about the economy and the future because of my financial background and experience, and whether things are all fixed or whether there is still trouble brewing ahead.
To be honest these days I do not have a clue, as the governments seem to be able to manipulate figures at will, and many countries either have an election this year or the next so they are all trying to report positive economies, growth and the end of the financial downturn. This means that the information we are being fed is not necessarily 100% reliable.
So what do I think? I think that whatever the situation the only way to be truly in control is to take your destiny into your own hands!
By creating a situation where you are making more than you spend, leading to savings and investment, you are making yourself “economy proof”. This kind of planning and commitment will be good for the future no matter what happens…
This is why I am such a huge believer in the home business industry. Now, a word of warning, this is not the solution for everyone, just like investing in the stock market, or purchasing real estate it has it strengths and weaknesses, so does this industry – so you need to know your own personality to know if it applies.
But if the concept of being your own boss is appealing, and you have the dedication, desire and discipline to succeed then this could be the perfect industry for you.
Once you have made the decision to start your own home based business, you may want to do some research as to what is actually involved. It is also sensible to treat this like a real business and create a business plan, budget and timeframe.
Now, what is the best home business to start in 2012?
Really in today’s market you want something that is consumable, popular and financially profitable. You also want to be able to have a niche market that you not only can relate to, but they can related to you.
There are a large number of things to choose from, some are relatively small niches but profitable, some are highly competitive but huge markets so there is room for everyone. Areas like golf, travel, financial education, health, nutrition, weight-loss are all huge industries.
For example, the baby boomer market is massive, and they are excited about a number of areas, but again this is not going to be for everyone.
For me, my love and passion is travel. I am currently writing this in Phuket, where I am on vacation (I normally travel about 6 months of the year). So what better way for me to make an income than to do something that I love and that pays for my lifestyle. I can also work from anywhere in the world, do the hours I want and then by being smart leverage the work I do so that it works for me automatically forever.
So my advice to you would be find a niche that has potential, and something that you enjoy and are passionate about. Do some research and see what the size and competition is like, and find a product that stands on its own merits.
I made a short video that gives some good tips and ideas, so go and check it out if you would like some more specific things to help you make the best choice possible.
The one thing I can say with 100% certainty, if you are bringing in an extra income then you certainly won’t be any worse of in the future than you are now!
So good luck choosing what is the best home business in 2012 for you!