Don’t Risk Taking a Nosedive – Factors to Consider When Plunging Into the Home Based Business Market
So, you’re ready to join the ranks of the self-employed and start your own business. You’re tired of corporate instability and employment uncertainty, and you’re ready to control your own financial destiny. Terrific. But wait just a minute, have you really considered some of the critical factors before taking the plunge into the home based business market?
Many eager entrepreneurs, especially those unfortunate souls who have recently (or even not so recently) joined the unemployed, drive into the home based business industry without truly considering whether the decision to start up a new business is a wise decision.
As a result, much time, money and eventually heartache is spent trying to launch and build a business that, with a little preparation and research could have been avoided. So, let’s get started with some basic factors to consider when determining whether should start your own home based business.
First, determine whether the home based business you are considering is legitimate. Home based business scams abound and unfortunately in today’s climate, many individuals fall prey to unscrupulous operators looking to make a quick dollar on the unsuspecting potential business owner.
When evaluating work from home opportunities, try a quick Google search by entering the business type and the word “scam” in the search bar. Generally, reviews for that business or product will appear, which will provide you with a good indication of whether your business opportunity is legitimate. Additionally, perusing online forums are a great way to see what others are saying about various home based business offerings.
Second, make sure that you can truly afford any start-up costs associated with launching your new business. It’s important to understand the start up costs associated with launching and maintaining the business for the first year, and to ensure that you have the funding necessary to weather any slow cycles or seasons. Trying to scrimp and squeeze out the funding to launch, especially if you’re taking from other critical expenses such as your household budget, can place a strain on you both financially and emotionally.
And finally, ask yourself whether you have the basic experience, knowledge and passion necessary for that particular business. It’s oftentimes much more difficult to start a business in an area in which you have little or no experience, knowledge or expertise. And, while it can be done, the most successful home based businesses are those where the owner has some level of understanding about the business opportunity or product offering. Thus, it’s best to try and ensure that your skills match the prospective business.
Remember, regardless of the type of business you ultimately choose, any successful operation will require many hours of your time to manage and work the overall business. Initially, there will likely even be a period of hard work for very little results, as is the case with any new business venture. Therefore, the more passion you have for the business, the more willing you will be to put in the long hours required to build and maintain a successful home based business. For more information about home based businesses, visit…
“Cat: Where are you going?
Alice: Which way should I go?
Cat: That depends on where you are going.
Alice: I don’t know.
Cat: Then it doesn’t matter which way you go.”
– Lewis Carroll, Alice in Wonderland
Often the one thing which sets apart people who are successful and those who are not, is that the former will have clear goals in mind.
Without having a clear idea of what you want to achieve, you will lack the clarity and motivation to get to where you want to go. If you only have a vague idea of what you want, it’s like travelling to an address which has the first two lines missing.
An all too often little known fact is that the conscious mind is but a small part of the mind as a whole. When you’re solving a problem or being creative, it’s the subconscious mind which is working away. The conscious mind is good at posing questions, it’s the subconscious mind which can answer them.
Have you ever been trying to figure something out and the answer only appears once you stop thinking about it, or when you sleep on a problem, you wake up with the answer? Well that’s the reason why – you’ve given your subconscious a chance to get the job done, without the conscious mind trying to steal the show.
We often miss-allocate our resources in that we try to consciously do things which the subconscious is best at doing.
Some people will claim that they are not creative, but you can bet your bottom dollar that they are capable of dreaming vivid dreams. Entire worlds and stories can be created without the merest sense of effort spent and this is possible because the conscious mind is completely out of the way.
Now, back to the topic in hand – setting goals for your financial success. In order for the subconscious mind to do what it does best, creatively bringing your dreams in to reality, you need to prime it by understanding and communicating exactly what you want.
In order to do this, the best thing to do is to write down specifically what you want to achieve. Write it as if it’s already true, with as much detail as possible. Allow your subconscious to feel how it would feel, to experience it with as much richness as possible. Teach it what you want to experience and what you want to bring in to reality. Once you’ve written it down, re-read and re-write it until you’re happy. If you can’t think of what to write, just start and see what happens, or come back to it later after you’ve given yourself a break from thinking about it.
Once you’re happy with your goals, make it a habit to read them every night before you sleep, and then again when you wake up in the morning.
For some further reading on understanding why this is so important, I fully recommend the following books:
The Biology of Belief – Bruce Lipton.
The Spontaneous Healing of Belief – Gregg Braden.…
This article speaks directly to your personality. I don’t discuss planning and budgeting but you should be aware that you will need to plan, plan, plan but don’t get caught up in “paralysis by analysis” and no matter how good your business plan you will not receive money from “angel investors” or banks unless you’ve already started your business and have a proven track record with a large upside – which you don’t have if you are a business startup.
First, here’s the quick synopsis of opening your own business
Register with your county or state as a business.
Start doing business.
Really? That’s all there is to it? Yes, that’s all there is to it. Unfortunately, its so easy that many businesses fail because they do exactly like what’s above. There are a few skills that complement success and generally you’ll either have those skills or will develop those skills over time. Here’s what you can expect.
You’ll work crazy hours.
You’ll be a salesperson.
You’ll always worry about your business.
You’ll become an expert on many things because you can’t afford to hire experts – especially in the beginning.
What many don’t realize is that you are always a salesperson. If you don’t like sales then having a business of your own is not for you. If you don’t have an outgoing personality you’ll need to develop one quickly. Whether you’re set up a booth at a county fair, open a retail mall location, or work from home you will be a “people-person”. You will network with others, attend events, and more. Sounds like fun? For many it is but remember while you’re somewhere having fun someone has to run the business. Here come the crazy hours.
If you’ve got customers or clients then you’ve got projects that you haven’t been working on while you’re out selling yourself and your company. So now after the fun is over you will begin your day’s work. Remember that while you were out networking you were creating your future (and probably spending money) but now you’ve got the present to think about. How do you pay your bills? What about the customer that is late with the payment? Now the worrying begins.
You’ve got bills to pay and customers to satisfy. You may have a payroll to meet or at least you’ll need to make ends meet. Is there enough cash flow or have you extended credit because you are new and the thought of work, any work was too much to pass up? How do you collect on unpaid invoices without offending and thereby cause other problems? Oh the fun never ends.
Lastly (for this article), you’ll need to learn how to be an expert. There’s nobody to do the day to day accounting but you or hopefully, a significant other so you’ll become a bookkeeper and bill payer. There’s nobody to design graphics for your marketing materials so you’ll learn software programs and design principles for creating brochures, flyers, and business cards because those first few you did were not exactly professional quality.
The list goes on but the point is made. It’s not easy to be a business startup. it’s not easy to stay in business. But along with the pressure comes a rush of excitement that you can’t get working for someone else. That feeling of excitement knowing that you are in control of your own future and nobody can take that away from you. So if you’ve got what it takes then go for it.…Read more
Show me a marketer who has a great opt-in list, and I’ll show you someone who knows how to make money online. People who use opt-in lists know how to make money online, because they realize just how valuable opt-in lists are. Opt-in lists consistently earn revenue for their operators. If you don’t already have one, you definitely need to start an opt-in list. If you already have one, then focus on making it better.
There are a few important points to remember when building an opt-in list. First of all, make sure you build a strong relationship with your subscribers. This relationship should be based on mutual trust and respect. Only market high quality products, and ALWAYS be honest with your subscribers. This will earn their trust. In turn, they will be more likely to buy your products or visit your affiliates.
1. Utilize affiliate marketing through email lists. You can make a lot of money by promoting other people’s products. Make sure you always cloak your affiliate link, because cloaking provides added security and professionalism. Assess the product and its qualities. Don’t describe what a product is. It’s better to describe what a product does.
2. Market your own products to members of your list. Offer discounts to your subscribers. Your subscribers will love this, because they will feel that they are in on a special deal. Also, rewarding your subscribers will only help your sales. You can also increase your customer base this way. The members of your list will start to spread the word about your products and services.
3. As far as services go, you might want to provide service-based subscription discounts. People who buy services are always looking to snag a long term discount. In turn, this will generate more money for you.
4. Forge business relationships with select members of your list. You might want to offer some of your subscribers the ability to be an affiliate marketer for you. It’s standard to offer subscriber marketers about 50% commission. This will give them the incentive they need to aggressively market your product. It also helps them to earn an income. This means they will have an extremely positive association with you and your product. You will be able to generate a lot more sales this way.
These four guidelines will boost your Internet marketing campaign. Opt-in lists are great because they are very specifically targeted. Also, opt-in lists give you the chance to directly contact your customers and even receive feedback. It’s important to keep the lines of communication open. Utilizing the above steps will bolster your sales, and you will be amazed at how much revenue you can earn.
Remember that opt-in lists are customizable. You need to always improve upon your opt-in lists. Stay abreast of current trends in products and services so that you can make the best offers to your subscribers. You need to be known as a market leader, and you can show your leadership through your opt-in list.…
As a retired franchisor, I am often contacted by future startup entrepreneurs, and they ask advice from me on how to run their future business. Generally I am contacted during the business planning stage, or right after the businesses started, and they are looking for tips on expanding their business, marketing to customers, or increasing their cash flow. Much of the advice I give is technical, and specific to their industry, but not all. Sometimes they’re looking for a little philosophy.
At times I’ve had trouble giving advice to young entrepreneurs and CEOs, although I am not without experience in this regard as I started my first business when I was 12 years old washing airplanes, long before I could drive a car. I know what they are going through, as I have been there, and I know how hard it was, and what it takes to succeed. Sometimes a little philosophy can actually go a long way.
Luckily, I ran across a very good book which has helped me more recently assist young entrepreneurs with words of wisdom. This is a book that I do own in my personal library, and I’m very glad to have it. It is also a book that I would like to recommend to you, in case you ever find yourself in the position of giving advice to Young CEOs who are out to conquer the world. The name of the book is;
“Wisdom for a Young CEO – Incredible Letters and Inspiring Advice from Today’s Business Leaders” by Douglas Barry, Running Press Publishers, Philadelphia, PA, (2004) pages, ISBN: 0-7624-1831-1.
This book dives into some of the inspirational advice that has been given by corporate titans to young entrepreneurs, in the forms of letters, e-mails, and other correspondence. The book imparts passion, respect, integrity, and a little bit of humanity. Perhaps some of the tips and ideas, or concept and advice given in this book will help you help someone else on their way to the top.
Everyone knows it’s not easy, but it’s much easier knowing that there are those who a blaze the trail before you, and are willing to help you on your journey. Not only does this book bring back memories of all the folks that have given me advice along the way, but it also helps me return the favor. Indeed I hope you will please consider this, and perhaps purchase this book for your own business library. It’s well worth reading and you can read the whole thing in one evening. Please think on this.…
New business owners are often unaware that there is a level of etiquette that must be applied to an email marketing campaign. There is an accepted way to professionally handle email marketing, making your customers look forward to receiving further communications from you. Below, you will find some helpful tips on email marketing etiquette.
Make every effort to strike a personal tone in your emails. Like it is with many other methods of marketing, you will find more customers willing to do more business with you when you are more personable. For example, if you are aware of the reasons for them signing up with your emails, add that reason in an email to them.
Don’t bombard customers with a message that says “Buy Now!” in your email messages. An approach such as this one is often perceived as being “spammy”, meaning your consumers will quickly unsubscribe. Trust me, all of them know you are trying to sell a product or service; however, you will realize greater success if you first build a relationship with them and then promote both yourself and what you are offering, professionally. You will be more likely to get a sale from them.
Always proofread your emails. It is important that all the emails you send are correct. Prior to sending each message, print a layout sample to ensure that the message appears as you intended. Be sure that if there are links in the email you test them first.
You need permission from your readers if you’re going to start sending them emails. If you start to send a great deal of spam messages, you are likely to lose credibility. Many customer are put off by receiving spam and it may hamper your relationship with your customer.
Remember that your email list is meant to increase your business profits. Every email you send should bring your readers one step closer to making a purchase. Do this by creating emails that offer product information – new and old – as well as information on special discounts.
Avoid sending your email marketing near holidays. Most people will be busy celebrating and will not check their emails until they go back to work. Yet, there may be exceptions to this. These exceptions would include one day sales or other similar promotions.
One great way to increase the success of your email marketing campaigns is to give your customers choices. Let your subscribers decide on the the number of messages they receive, how often they get them and what information they want to disclose. If they feel like they’re in control over the process, they will feel more comfortable.
Your emails should contain an incentive. Customers are more likely to buy your products if you make it tempting to do so. For example, you could provide them with free shipping on the orders they make that are over $50 if they simply click on one of your links or buy an item on your site.
As the article above advises, it is highly recommended that business owners practice proper protocol in their email marketing program. You will lose customers if you don’t use common courtesy. Use what you’ve learned to cultivate an email list full of happy customers.…Read more
There are literally millions of people out there who have a hard time with their finances and wish that they could be the boss. Unfortunately, many people have no idea of how to make this wish come true. Making money online is the solution. Read on to learn more.
Figure out the niche that you are in first. Do you think you are a good writer? Become a content writer. Are you good at graphic design? A lot of folks might hire you for website or document projects. Look around to find what you want to do.
Make out a daily schedule. Your income is absolutely tied to working hard daily. This is no quick fix to tons of cash. You have to be willing to put in the effort each and every day. You need to have a time established daily for focused work. Over the long term, just an hour each day will really add up!
Consider surveys as an option. There are a plethora of surveys to pick from on the Internet. These are a good source of online income. Depending on the site, they usually don’t pay much. This is easy when you have some down time, and that money can quickly add up.
Tutor if you are very intelligent. Therefore, if you want to be able to work online from home, then consider e-teaching as a viable option. Sites like TutorVista and SmartThinking allow you to put your knowledge to use. You could even open up new career paths if you do a good job.
You can always just search Google for pointers about making money. This will give you a huge variety of ideas and options. Once you find something that sparks your interest, be sure to do a thorough search about reviews about that company. No matter what your choice is, you should take your time with things.
Flip domain names. A lot of people make good money off domain names. It is sort of like purchasing real estate, and you will have to spend some money. Google Adsense can help you find out what is trending. Buy domains which can be acronyms. Predicting popular domain names of the future can be quite profitable. Give it a try!
Never pay money out of your own pocket when earning money online. No company which is legit will ask for money up front. They will have little to offer you once they get their money, so don’t fall for websites that offer “memberships” to be able to access their list of supposedly great paying jobs. Be sure to avoid these companies.
Write your own Ebook for selling online. This is a great way to get people to know that you have knowledge of a subject while making some money too. A collection of recipes is a great idea for an E-book.
Online money making is quite possible. With the knowledge you have gained from this article, you can begin making money as early as today! You’ll be able to make money in no time. Learn everything you’re able to, and you’ll see the money flow in as well.…Read more