10 Things I 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 freedom of time to spend time with your family?
If your answers to the above questions are yes, the best option to achieve all of the above is to start a business from home.
My name is Lynn and I am from Kuala Lumpur, Malaysia.
I am a full time mom with 2 young children.
My husband and I started our home business in March 2018 out of necessity.
We were looking for an opportunity to generate a second source of income for our family.
After running a couple of failed online businesses, we finally found a home business that worked for us.
Our business promotes health and wellness products using the network marketing business model.
The products of our company 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 fermentation 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 on offer in Malaysia.
Which of these is right for you?
How do you stay away from scams and pyramid schemes?
Here, I want to share with you 10 things I’ve learned building a profitable business from home and being a full-time mom at the same time.
1. Don’t source your own product from China because your profit margin will be very low and you will get a lot of customer returns.
2. Only promote and sell products that you personally use and believe in.
3. Promote a product that is very unique where there are no competitors in the market.
Look for a Blue Ocean product where there are no competitors on the market in the same product category.
Follow the business and marketing strategy of the book The Blue Ocean Strategy written by Renée Mauborgne and W. Chan Kim.
4. Source of high quality products with a large potential market in Malaysia.
5. Promote the product that can help you generate repeat sales.
6. Don’t buy a large number of shares to hold because it will tie up your capital.
7. Do not handle your own order processing, packaging and delivery of products because it will take up all of your limited free time.
8. Make sure your profit margin or commission is high enough to be worth your time and effort to build your business.
9. Work with a reliable vendor with an experienced founder and management team.
10. Don’t work alone. Always work as a team.
The home based business I am currently working on meets all of the above criteria.
One of the main products of my business is a sports garment that emits Far Infrared Rays (FIR).
The company my husband and I partner with has a Blue Ocean product (a unique wearable technology) that has generated over RM1 BILLION in sales in the first 3 years on the market.