Archive for

How to Start a Home Based Business the Right Way

We get tons of questions about how to start a business. Today I will lay out the ground rules and explain what you need in order to start a home business. Then you can decide if running a home business is for you.

Most people think you just sit back and relax when they hear you work at home. They don’t understand there are so many little things behind the scenes that they don’t see us do. From research and development to laying out a game plan and keeping it updated; you put in a lot of man hours when you run a successful business. It doesn’t come free.

When you compare your hourly day to a regular 9-5 job, it may come close. Most successful home businesses spend 6-8 hours a day working. When your just starting out it isn’t uncommon to spend upwards of 8-12 hours a day in development. There is a lot of work that you wouldn’t think of, if you come in to this unprepared. That’s why it is so important to do your homework before you start any business.

Make sure the business you want to start is your own idea. Try to stand clear of promoting a business you saw in an ad somewhere. Don’t be a copy cat. Come up with something that is original. Even if you are going in to an industry that has thousands of businesses doing the same thing as you; Make sure you have your original twist that others do not have. Keep your business original and you will stand a great chance against your competition.

1. What are your talents and skills?
The sad thing about new people starting a home business is; they try and do what someone else is doing. They think that since one person is doing great in that particular field, they can do the same thing. “WRONG”. Find your talents and make a business out of it.

You should know the things you are good at doing. Everyone has something that they excel at doing compared to someone else. You may have to ask a friend or family member what your talents are to find out what they are; but everyone posses a talent or two. You may be an office person, a person that can play video games well, maybe you are a great communicator, or lucky enough to be a person who can learn and pick up anything quickly.

Either way, your talents are what will make you money. It took me years to finally figure out I could be a successful business consultant. But after running many successful home businesses and teaching people what I know; I figured out what my passion was; teaching people to make money at home was my talent. I love to do help people and what better way than to teach people how to make money at home in this recession. Your talents will be the building block for making your business successful.

Most people like what they can do well. That’s why so many successful business people use their talents and build a business around them. They don’t get bored and give up out of frustration. Your talents give you interests in those talents. This will make you experienced in that field. You will know more about your talents than the average person because you are interested in them. This is your first step to being above average in your businesss filed. You are already an expert.

Your skills will follow your talents. Skills come from lots of practice from your talents. Practice makes perfect is the mind frame you need to be in when you run a successful business. Take your talents and put them to use. In time you will learn skills that came from your talents. This will prove to be any business person’s strong point and the foundation of their success.

2. Coming up with ideas to gear you business toward.
Coming up with the perfect field of business may be the hardest part. Great, you found out what your talents and skills are; but how do you make a living doing it?

If your talent is artwork; Google “artwork job titles” and you may be pleasantly surprised to find many businesses you could start right now. Scratch off every business idea that is out of the question. For example, if you want to work at home, scratch off all your ideas that have something to do with off site work.

This part is all you. You have to decide out of what talents you have. Now which one/s do you want to make money for you. The smartest choice will be the one you have the most interest in doing. You always hear people say I hate my job. It is everyones dream to do what they enjoy doing everyday for work.

Pick what you enjoy most and do some research on Google to find out what will be most profitable for you. Don’t forget to add your originality. Give your customers something your competition isn’t doing. Now you have one foot up on your competition as well as your expertise.

3. Once you choose your job title and business field, pursue it!
Don’t make the same mistake most new entrepreneurs make. Most people come up with a great idea and then they give up. Or what’s worse is; they tell someone or many people about their idea and someone steals it before they can get a start on it. You have to follow through with whatever you start.

Do not to start a business and then quit once things start getting tough. Stay active in your ideas. Keep on top of what is new in your field and take advantage of it. If you feel you need to quit and start over because you thought of another idea or two; think long and hard about it. Think of ways you can revamp your new business and use your new ideas too.

After all, you don’t want to throw away your long hours and hard work over another idea. In the end it’s all about keeping up with the times. Change is good, but when you quit and start over it can get very discouraging. Most people will quit when they are frustrated over starting over.

4. Don’t dive right in to it.
Don’t just jump right in to something without doing the background research to know if it will work for you or not. Many people make the mistake of investing time and money in to something that will eventually fail because they didn’t research it first or think of a game plan ahead of time.

Make sure you look at the entire picture and make sure your business will have a high success rate. If you can’t see a high success rate for your ideas, do more research so you can make your business original and attractive to new customers. If you do the same thing everyone else is doing without originality, you will be sure to fail along with the other copy cats.

5. Having a game plan, setting goals, and chasing them.
Make a list of all things you want to accomplish. These will be your goals. Make some short term goals that will help you reach your long term goals. Keep your daily goals written in a book, or as I call it, my business diary. Your future goals may change as you achieve each goal, so a little notebook may work best for you. Some people choose to make a business diary in word pad or note pad on their computer. Whatever is easiest for you, I suggest you do it.

Make your goals S.M.A.R.T. goals. Specific, Measurable, achievable, Result-oriented, time-tabled. Make your goals realistic. You probably won’t make a million dollars in your first year, so don’t make this your goal. Make sure your long-term goals are able to be reached by achieving your short term goals. Your short-term goals should be set up so they slowly take you to your long term goals. One step at a time is the best way to achieve anything.

6. Stay active and don’t give up.
Most people will start their business like a jet car off the line; but give up after a short time. Your business won’t be successful if you don’t stick with it. Yes, it’s okay to take a break when you need it. (that’s why we started our business in the first place isn’t it? Our freedom)

But don’t go over board with taking time off from your business. The more time you take off, the more you wont want to go back to work, its human nature. Be persistent in what you do for your business. Try not to slack off on what you were serious about before hand.

Your business will not do a thing if you are not consistent and stay true to what you believe. Staying consistent is what will slowly build your business over time. Don’t put things off until tomorrow. Tomorrow never gets here.

7. Research and development is what keeps us going strong.
R&D is the most important thing to keep your business new and fresh. Don’t use the same ideas and programs you used three years ago. Most likely those are all outdated.

Yes, it’s very important to do R&D to get your business started but it’s even more important to keep your business running strong. Even if you have to cheat and look at what your competition is doing. Keep an eye on your competition and take their ideas to a new level. Put your original twist on things and make them your ideas.

You will always stay on top of today’s technological business world if you keep up with what is new. Staying new, fresh, and changing with the times will ensure your success. Businesses that use yesterday’s technology will only be left in the dust by their competitors. Doing constant research on today’s technology and knowing what works will be the key to drawing in new and repeat customers.

Customers want what is newer and easier. In today’s fast moving world, nobody wants to spend hours doing what can be done in minutes. Keep this in mind and you won’t have a problem drawing in new and repeat customers for the rest of your life.