1. Where do I want to be in five years. This is a good question to ask yourself. In today’s highly competitive world one must have a clear vision of who he wants to be and where he wants to be within 5 years. I often find people that are approaching their fifth year in business, making a reasonable income but utterly frustrated with the amount of hours that they have to put in or frustrated with the type of work that they are forced to do, others just feel trapped and are looking for change.
Decide where you want to be in 5 years, write down on a piece of clean white paper where you want to be in 5 years professionally, socially, emotionally, physically, spiritually and economically. You gotta do it, as they say, if you don’t know where you are going any road will take you. If your not good at this get someone to help you.
The Question: What do I want my life to be in 5 years?
2. Do I have the shear will to compete and succeed at the business I have chosen and furthermore do I have the shear determination to follow my 5 year vision. Most successful business owners I’ve met have above average abilities and that’s what allows them to leave the job market and set off on their own. Many unsuccessful business people I meet have average abilities and are better suited for employment of some sort. So make a honest evaluation of yourself, don’t get caught up in the romanticism related to business. Be realistic about your own abilities, it will save you much time and money.
The Question: Do I have what it takes to make it?
3. If you are having trouble with the question above maybe this will help. They say that failure is the path of least resistance. So going further in evaluating ourselves, lets look at our track record. If you are a constant procrastinator and rarely get things done right this maybe a bad sign. If you often fail, quit, give up on things, well that’s not a good sign either. But if you follow through and stick it out most of the time, there is hope.
The Question: Whats the rest of your life look like?
4. What type of team do I have to make this thing happen? Throughout my professional career I have seen many individuals who claim to have a business but are actually self-employed. There is a big difference. Owning a business, you must have a team even if only one other person. Setting out on a mission alone is noble but hinders your growth and many times leads to failure. Working alone is a difficult prospect even for the most introverted of us.
The Question: Do you have a team?
5. Do I understand accounting is a very important question to ask yourself. People who do not understand the basics of accounting are detached from a …
Evolving Web 2.0 Tools Make Branding a Reality For Anyone
One of the challenges to starting a business from home is advertising. That is why network marketing has been a popular way to get into business for oneself. The cost of advertising is replaced with sweat-equity. Instead of taking out an ad a person could become a walking billboard for a company or product.
Advertising has long been difficult for the small business person. Large companies spend many millions of dollars branding their names in people’s memories. So when it comes time to buy, these companies hope the customer will think of them.
But how does the small business person compete with that? How can anyone brand themselves without spending huge amounts of money that may never be recovered? Especially if this person is just getting started and is forced to build a business on a shoestring. The answer…
The Internet
We all know the internet has been around for a while. But its recent evolution is making it very feasible for anyone to brand themselves in a particular niche while spending very little money.
This is a dream come true for the small business person.
Now anyone can target a niche and brand themselves as an expert in that niche while spending very little money. How is this possible?
Software developers continue to create tools that require absolutely no technical knowledge to use effectively. You can simply drag and drop items and create professional looking web pages, blogs, and other social networking pages. And you can write articles that ezine publishers will use including a link to your site or blog. You can create informative videos and broadcast them for free.
This is wonderful news for the home based business owner. But as great as all this is, keep one thing in mind…
You Need More Than Tools to Be Successful When Starting a Business from Home
Great as they are… they are just tools. They are free (or very cheap) and easy to use. They are powerful when used properly. But they are just tools.
The real power is in what you do with them. And it all hinges on identifying what people really want. Simply taking a sales message to the internet is your weakest option. As suggested above, your best option is to use the available tools to brand yourself as an expert in a particular niche.
Because that is want people are looking for… experts.
Products and services are means to ends. People really want solutions to their problems. And better yet – they want experts who can help them solve these problems.
Your biggest opportunity for building a home based business is to brand yourself in the eyes of thousands of people as the one expert they want to follow in solving certain problems. The tools help you do that in a marvelous way. They help you get the message out.
But you still have to have a message. What is that message?
It …
Starting and running your own business is one of the most exciting and potentially rewarding activities anyone can undertake. The possible rewards are boundless as is the opportunity for fulfilling personal ambitions. However, there are certain questions you should ask yourself, before you decide to take the plunge and invest your time and money in trying to start a new business venture.
You will also need to make plans, because that old saying: ‘Those who fail to plan, plan to fail’ is true, especially in business. For without plans, a business is subject to the random outcomes of chance rather than sound judgment. you can even get to the stage where instead of running the business, the business runs you. In order to avoid that sad state of affairs, you need to make sound plans before you start; decide which skills your business will need and accurately assess whether you possess those skills.
The first question you should be asking yourself is, ‘What am I going to get out of it?’. After all, you are giving up most of your rights as an employee. Rights such as job tenure, regular wages, paid holidays, sick leave, insurance and the right to forget your job when you leave it at the end of the day. In exchange you get the right to invest lots of time, energy and money. So, you have every right to know or at least to ask yourself, what you will get in return.
The rate that the number of new business being opened every year rises most years, although perhaps it won’t this year due to the banks’ reluctance to lend us our money. However, usually the rate does rise, so there must be a positive perception among the population that owning one’s own business is an advantage. The most common advantages cited are:
Control: as the boss, the authority and indeed the responsibility to make decisions rests squarely on your shoulders. You will direct all the activities of your business for better or for worse.
Creative Freedom: you are at total liberty to express your talents and ideas without seeking permission, having them approved by superiors or going through channels.
Profits: the more successful your business becomes, the more money you will make, whereas, in general, an employee’s salary is dependent on corporate or even national agreements, policy and regulations. Yours will be directly related to the performance of your business.
Job Security: if your business is viable, no one can sack you, lay you off, make you redundant or force you to retire.
Satisfaction: most people derive a great deal of satisfaction from knowing that they have built a successful business from nothing.
The most common disadvantages of being the boss cited are:
Risk to Capital: if you business fails, you could lose everything you put in and more.
Long Hours: your hours will not be ‘9 to 5’, especially in the beginning, when they are more likely to be ‘8 till late’.
Income Variation: …
The latest figures show the unemployment rate in the US is topping 10%’s one in ten people out of work! And, the future isn’t looking particularly bright. Recent reports estimate the lack of work will continue through 2011, at least. You can’t sit around and wait for big business or the government to turn the economy around, so it’s pretty much up to you to take control for yourself. How can you get your financial life back on track? Put yourself to work!
Starting a business of your own is the best and only way to take complete control of your work life. Working for yourself means no layoffs, no wage freezes, no begging for a day off, no hoping that the big bossman will grant you a meager year-end bonus. When you work for yourself, YOU set your income goals and work as hard (or not) as needed to reach those goals. YOU develop a company culture that fits your personality. YOU establish your own work hours. And YOU decide when it’s time to grow.
Of course, starting a business requires a good bit of time and effort, but at least the work you do is just for you. When you want to earn more income, you put in more work. When you want a little time off, you take the time you need. Because it’s all on you, you will do the work to control the risks and because you are taking control of your worklife, you are more likely to stay motivated.
For many new entrepreneurs, the toughest part of independence is taking the first even figuring out what that first step would be. If you’re just not sure where to start, start here:
Define Your Goals
Take a look at where you are now and where you want to be. Write it all down and cover all areas of your life.
Make the Tough Decisions
If you are drowning in debt, decide how to handle it. If you hate your job, set a deadline to make the change. If you don’t have any startup cash, figure out how to raise it. Look at the gap between where you are and where you want to be and create a concrete plan to close up that gap. If it seems like it will take forever, don’t let that bother you. If you start today, you are one day closer to where you want to be!
Pick a Startup
Brainstorm business ideas, find a modified version of your own big idea, talk to your friends and family about startup opportunities. It really doesn’t matter where you start with your independence, just that you get started. Most wildly successful entrepreneur change direction a number of times before landing on the perfect opportunity. And, more opportunities seem to appear once you’ve taken the first step.
Educate Yourself
Entrepreneurship is its own separate profession. Becoming an expert requires that you learn the fundamentals of a bunch of other professions, including accounting, marketing, …
All too often online entrepreneurs start their business intent on learning as they go. They have a mindset that if they are going to be successful online then they have to learn everything themselves from scratch – Wrong Mindset:
There is a right way and a wrong way to develop and grow an online business. The right way is to find out who in your niche is currently successful and mirror what they are doing.
You must not copy what they are doing word for word but you must firstly:
1. Adopt their mindset – what do they focus on, who do they focus on? how much time do they invest in their business? who are they in business with? what are the names of the people that you associate with and who can really challenge you and help you?
2. Work on your own mindset – Be focused on achieving your success and you must be specific in order to do this,. Make sure you have committed yourself to the success of the business. You must be committed to working on your online business every day for an extended period of time – Are you prepared to make the necessary sacrifices. Make sure you understand the time it will take.
Many of the online scam businesses claim that you can make thousands of dollars from your first day in business by working only 1-2 hours per day. Most of the truly successful online entrepreneurs who have built sustainable, ethical, online businesses for themselves will have invested their time, their efforts and 100% of their focus to ensure success in their online venture.
If you are serious you will treat your business seriously.
On each of the Online Business Training courses that I have given and attended over the past few years, Mindset features on each and every one of them.
Being an online entrepreneur can be difficult to explain to people who have never operated online. They will however be experts in online scamming and will have heard all the stories!
Its important for both you and your own mindset to be very clear to these people that you are working on a serious business and that you are committed to its success and that you are working on yourself all the time.
You must make sure that you are spending as much of your time as possible speaking with and mixing with like minded success orientated people. This works if you want it to work.
Watching the news and TV and reading the daily newspapers will not help you to become successful online. Cut the time you spend on these activities to a minimum.
3. Find a proven system that works online and that has worked online for for many people. Speak to these people and understand what they have done to make it a success. Its the quickest way to becoming successful online.…
The downside to Forex trading is the risk you take on when you make a trade, especially if you don’t know what you’re doing and end up making bad decisions. Reduce your own risk by learning some proven Forex trading tips.
Pay close attention to the financial news, especially the news that is given about the different currencies in which you are trading. News stories quickly turn into speculation on how current events might affect the market, and the market responds according to this speculation. If you are tied to a certain currency pair, set up text alerts or email notifications for news about your markets. This will allow you to be ready to react quickly to changes that may affect the currency.
In order to preserve your profits and limit your losses you should understand and use margins sparingly. Used correctly, margin can be a significant source of income. Using it carelessly, though, can end up causing major losses. Only use margin when you feel your position is extremely stable and the risk of shortfall is low.
Experience is the key to making smart forex decisions. Try to practice live trading with a demo account so you can have a sense for forex trading without taking lots of risk. There are many online tutorials you can also take advantage of. Try to get as much info as you can before you invest.
If you are working with forex, you need to ensure you have a trustworthy broker. Try to choose a broker known for good business results and who has been in business for at least five years.
Make a list of goals and follow them. A goal and a schedule are two major tools for successful forex trading. When you are new to trading, keep in mind that there is room for error. Also, decide on the amount of time that you are able to dedicate to trading and conducting research.
When giving the system the ability to do 100% of the work, you may feel a desire to hand over your entire account to the system. This can result in big losses.
The Canadian dollar is an investment that may not be as risky as some others. Forex trading can be confusing since it’s hard to keep track of all changes occurring in other countries. The Canadian dollar is typically a sound investment since it trends along with the U.S. dollar. S. dollar tend to follow similar trends, making Canadian money a sound investment.
It’s normal to become emotional when you first get started with Forex and become nearly obsessive. Most individuals can only stay focused for a short amount of time when it comes to trading. Remember, the market isn’t going anywhere; it is perfectly acceptable to take a brief break from trading.
In due time, you will gain enough knowledge and expertise in trading that you will be able to start making major money. Right now, however, just focus on putting these few tips to …