10 Things I’ve Learned Building A Profitable Home Business In Malaysia
Are you looking for ideas on how to start a home based business in Malaysia?
Are you looking for ways to generate additional income for you and your family?
Do you want to have the time freedom to spend time with your family?
If your answers to the above questions are Yes, the best option the achieve all the above is to start a home based business.
My name is Lynn and I am from Kuala Lumpur, Malaysia.
I am a full time mommy with 2 young kids.
Me and my husband started our home based business back in March 2018 our of necessity.
We were looking for opportunity to generate a second income source for our family.
After running a couple of failed online businesses, we finally found a home based business which worked for us.
Our business promotes health and wellness product using the network marketing business model.
The products from our business are:
– Far infrared ray (FIR) emitting garment imported from Japan
– Functional food product to protect our heart by reducing high blood pressure and high cholesterol from the United States (USA)
– Food enzyme with 90 kinds of fruits and vegetables and took 8 years fermenting process from Japan
– Collagen drink with ingredients from Spain and France
– And many more
If you were to do a search online, you will find so many business opportunities offered in Malaysia.
Which one is right for you?
How do you stay away from scams and pyramid schemes?
Here, I want to share with you 10 things that I’ve learnt building a profitable home based business and being a full time mommy at the same time.
1. Don’t source your own product from China because your profit margin will be very low and you will have a lot of customer’s return.
2. Only promote and sell products which you personally used and believe in.
3. Promote a product which is very unique where there are no competitors in the market.
Look for a Blue Ocean product where there are no competitors in the market in the same product category.
Follow to business and marketing strategy from the book The Blue Ocean Strategy written by Renée Mauborgne and W. Chan Kim.
4. Source for high quality product with a large potential market in Malaysia.
5. Promote product which can help you to generate repeat sales.
6. Don’t buy large amount of stock to keep because it will tie up your capital.
7. Don’t handle your own order processing, packaging and product delivery because it will take up all of your limited free time.
8. Make sure your profit margin or commission is high enough to worth your time and effort building your business.
9. Work with a reliable supplier with an experienced founder and management team.
10. Don’t work alone. Always work with a team.
The home based business I am currently working on fulfills all the criteria above.
One of the core product of my business is a far infrared ray (FIR) emitting athleisure garment.
The company that me and my husband partnered with has a Blue Ocean product (a unique wearable technology) which has generated more than RM1 BILLION in sales in the first 3 years in the market.