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12 Surefire Steps To Home Based Business Success
I am going to be my own boss. I will be the one to call the
shots. I will work at my own pace and time. I will have free
time in my hands. I will spend quality time with my loved ones.
I will succeed. I will enjoy my life.
So, you have decided to venture into a home business --- where
you work for yourself and greatly reap the fruits of your labor.
However, there are some bad news and good news that you should
be aware of.
BAD NEWS: Studies show that 80-90% of home businesses fail.
GOOD NEWS: Your business can be among the 10-20% that actually
succeed!
How? By following the "12 Steps To Home Business Success." And
you can do that with PEP!
*P - PREPARING/PLANNING EXTENSIVELY
When you do decide to venture into a home business, the very
next thing to do is prepare for it. Prepare a business plan.
This will be the very foundation of your business. You can do
this by following these steps:
1) Start with the basics.
What type of business would you like to get into? Would you be
selling products, would you be offering services, or would you
like to try both? In any case, you must decide on which
particular product and/or service you would want to focus.
Have difficulty deciding? Here's a simple but sure-fire tip:
Focus on what you know and enjoy.
If you have a talent in writing and editing, you can venture
into an editorial services business. Are you into graphic arts?
Can you design/layout brochures, business cards, newsletters,
etc. using your computer? Then you can get into desktop
publishing.
Do you know how Bill Gates, the richest man in the world,
reached the pinnacle of success? He decided to venture into the
one thing that he loved --- computers.
So, whatever type of business and whatever product or service
you decide to start with, always make sure that you are familiar
with it and that you have passion for it. The first will save
you time, the second will keep you motivated.
When you are already decided about the type of venture you want,
think of a name for your business. Make sure that it is unique,
easy to remember, and professional. Of course, also make sure
that it is significantly related to your business.
2) Gather your resources.
You cannot put up a business without a capital. This includes
the monetary or financial capital, material capital (supplies,
gadgets, etc.), and manpower. Do you think you are prepared to
invest all this into your business?
3) Draw out your goals and set your mind into them.
Set general goals and specific ones. Formulate short-term goals
and long-term ones. What do you aspire to achieve in one month,
three months, six months, one year?
Visualize your goals. Have a vivid image of each goal in your
mind. How do you see yourself a year or two from now?
Have a list of your goals on hand. Read your list regularly. Did
you know that by merely doing so, you actually increase your
home business success rate by 100%?
*E - ESTABLISHING YOUR BUSINESS.
This stage refers to the actual nitty-gritty of setting up your
home business. This time, you are done with conceptualization
and you are ready to get into action. You are now implementing
the plan that you have prepared. Here are several steps that
will help you establish your home business and achieve home
business success:
4) Work on the legal requirements of your home business.
For your venture to be a legal business entity, you need to work
on certain formalities. These include registering your business
name, applying for a business permit/license, setting up a
taxation system, and other paperwork. In this step, you also
formulate a compensation plan for your employees.
5) Devise a marketing plan.
How do you create exposure for your products and/or services?
Formulate a creative, innovative marketing plan. Consider the
following factors/concerns:
. Your target market.
Clearly define your target market. This will help you decide
which advertising and promotion strategies would be more
appropriate to draw in your prospective clients/customers.
Most of this information comes straight from the business
success pros. Careful reading to the end virtually guarantees
that you'll know what they know.
. Your products/services.
Of course, your advertising and promotion techniques will
greatly depend on the type of products/services that you
sell/offer. Make sure your strategies will "sell" your
products/services. If you are offering graphic designing
services and you give out poorly-made flyers, you will surely
attract no clients at all.
. Your resources.
You cannot aspire for grand and complicated advertisements if
you are limited by financial constraints. You can, however,
maximize whatever resources are available to you to effectively
promote your product. Take advantage of the Internet. By using
e-mail, blogging, forums, etc., you can spread the word about
your business in a flash!
. Your uniqueness.
"Same-old, same-old" will give you no gold. You can still
utilize the most common advertising/promotion strategies, but
give them a twist. Think of the most creative ways to catch ---
and hold! --- your customers' attention. Make offers they can't
resist.
6) Formulate a Daily Method of Operation (DMO).
Make sure that your Daily Method of Operation is practicable,
realistic, and goal-oriented. Set specific things to be done
during specific hours. Set your priorities for each day. Make
sure that such tasks can really be done and that they are done
for the purpose of reaching your goals.
7) Manage your time effectively.
Although you practically have time in your own hands and you are
your own boss, it does not mean that you can sit back and relax
all you want. In fact, you must be more cautious about spending
your time because your home business success depends on you ---
the time and efforts that you commit to your venture.
*P - POWERING UP.
Your home business is already established based on your plan.
Can you now just relax and watch the cash flowing in? Of course
not! Maintaining a successful home business entails exactly that
--- "maintenance." You need to continue working for your home
business success. Here are some steps to power up your home
business:
8) Aim for your personal development.
How do you develop your personality and how can this help you
achieve home business success? Consider the following ways:
. Be educated.
Continue learning about your business, as well as about
yourself. Participate in meaningful seminars and workshops. Read
a lot, especially the stories of successful people. See what you
can learn from any situation that you get into. Make each day a
learning experience.
. Be motivated.
Read inspirational stories. Listen to motivational news.
. Be sociable.
Of course, you need to interact with other people; otherwise,
you cannot do business with them. But besides that and more so,
you need to socialize with other people and learn from them.
Exchange tips with them. Learn from their mistakes and be
inspired by their triumphs.
. Be an inspiration.
Aim for your personal growth and inspire others. If you want to
see positive changes in your home business or your financial
life, you should first strive to achieve inner growth. Grow from
within and develop the without as well.
9) Develop the desirable or must-have traits for home business
success.
In connection with step number 8, here are other traits that you
should develop for you to achieve success in your home business:
. The 3 P's - Patience, Persistence/Perseverance, Passion
. The 3 D's - Desire, Discipline, Determination
. The 3 C's - Courage, Confidence, Consistency
10) Take care of your health.
This looks too simple, but it is very important in any business
endeavor and many people tend to take it for granted. How can
you work on your business and attain success if your physical
being is poor? Eat a balanced diet. Exercise regularly. Monitor
your stress level. Stay physically fit and enjoy your home
business feat!
11) Have a balanced life.
Your home business success will not be as meaningful if you do
not have success in your personal life. Do not surrender all of
yourself to your business. Even Bill Gates takes a week of rest
and solitude every month. Have that needed rest. Spend quality
time with your loved ones. You will see that as you rejuvenate
yourself, you will be more productive and even more prepared to
face the various challenges that your home business may pose.
Take time to enjoy life, for that, indeed, is the very purpose
of your financial success!
12) Have the right mindset.
Do your best and believe that you can and will succeed. Never
give up. If Thomas Alva Edison quit when he failed after
thousands of trials, we wouldn't be enjoying the benefits of the
electric light bulb today. As the great inventor aptly put it:
"Many of life's failures are done by people who did not realize
how close they were to success when they gave up."
Yes, you can venture into a home business and enjoy your life.
Just follow the "12 Steps To Home Business Success"!
Those who only know one or two facts about home business success
can be confused by misleading information. The best way to help
those who are misled is to gently correct them with the truths
you're learning here.
About the author:
Daegan Smith is the leader of the fastest growing team of
successful home business enterpernuers on the net. Find out how
we're creating financial freedom all across the globe and how to
get in on the action FREE at http://www.comlev.net