The term “Home Business” has often been maligned over the years because of unprofessional people doing questionable things out of sheer greed or simply not knowing what not to do. It has also been maligned because of companies that take advantage of people who don’t really understand what they are doing.

As a business model, “Home Business” has never really been good at legitimizing itself because of the loose nature of the term.

Today in light of the wrecking ball that the Corona Virus has become, Home Business now has a chance to become a way for people to isolate themselves and build a business doing it. Never before has “Home Business” had a stronger argument for its existence.

Back when I first got wind of this idea, I liked the idea of having my own business that helped others and created an income independent from everything else I was doing. Something I could build on from scratch for the rest of my life seemed to me to be a really good idea. It was and is a good idea.

In fact, I once coined the phrase that “Not only should there be a car in every driveway, but a business in every garage.”

The good news is that with the Internet and the world of software, it is possible to have a “Home Business” that uses these assets to not only build the business, but also build personal income.

First of all, you have to think like a corporation. In other words, your business should outlive you. It should be something you can leave to your children, and it makes sense because you can have your children help you build it throughout life.

The way to run the home business is to work for your business, to build it’s revenue, to gain capital, to become a living and growing thing on it’s own. You can pay yourself a salary, and your family members a salary as well from that business once it gets big enough.

In this business model, things will change. Sometimes things will change quickly, and other things will change slowly. So, it will take diligence to keep it moving forward. Products and companies will come and go and when they do, entire streams of income can disappear from today to tomorrow. So, having a portfolio of products making commissions over time increases the stability of your business.

In each category, there will be different network structures, and there will be different clients for each one. So, part of the task is to present your entire business as something your customers can copy and do, not just each individual product.

Just as Warren Buffett adds new companies to his portfolio, adding products and companies to your portfolio should be part of your strategy as well.

The bottom line is that with all of the issues with Covid19 in the world, the world needs new solutions.

The fact is, the world will fall into a recession, and possibly a depression if people don’t keep their heads about them. There will be not only partial losses in the value of companies, some companies will completely die, taking with them all of the money investors have lent them.

For instance, it is a sure bet that many airlines will go out of business. Even if the world gets back to “normal” in 2021, for many airlines that will be too late.

Obviously, as with every financial crisis, there is unbelievable opportunity to do very well coming out of the crisis. As we saw with 2008 and 9/11, it takes a very short period of time to lose money, and a long time to make it back, but eventually it comes back, and exceeds where it was before.

Right now, we are just beginning. We are sliding down the hill and nobody is sure when this skid is going to stop. At some point the economy will climb again, but it is going to be a long healing. With the Fed interest rate at almost 0, there is little wiggle room for the Fed to do more, they have let out all of the rope there is.

So, Home Business is a bright prospect for people right now.

It costs little to get started, and can make you a living wage with just a few sales.

Right now, I can’t think of a better way to secure your livelihood.