Home Business Ideas and Opportunities

Archive | July, 2015

Starting an Online Business – Be Prepared and Flexible

Being prepared is a good reason to even consider starting an online business. Being prepared for the unexpected financial crisis of any kind – whether it is the sudden loss of your primary source of income, or an insurance deductible or other disaster, it is always best to have some money saved. While credit of course is ‘nice’ you can get in serious trouble for over-extending yourself and it may take years to climb out; Therefore, cash is best.

be prepared!

Being flexible is about keeping an open mind when you are starting your business, in every regard — from what your business will do, to what resources you will use. This is because much will be done through ‘trial and error’ and even just analysis when something may be either doing better than you expected or not as well. You want to remain flexible so that you have the ability to change more or less on the fly.

This is not to say that you shouldn’t give things a fair chance before you pronounce judgement either way. There is nothing instant about earning a steady income. You do hear tales about somebody making a ‘killing’ in a few weeks but this is the exception, not the rule.

The rule is usually that you have to ‘pay your dues’ – expend the time and effort required to build and develop your business; and to thereby sustain momentum in your advertising and marketing. From that will come traffic, and from the traffic will come conversions to sales, eventually. Visualize a shopping mall with hundreds of people mulling about and realize that only a handful of those people will actually transact business the same day. Hello, this is reality.

This is another area where being prepared becomes highly relevant. You need to be prepared for much of the time in the beginning where you will be working and even spending money on your business and nothing is coming back in (yet). So obviously you want to have some operating expense money saved up or at least available.

Another good way to ensure that you have money coming in even when something is lagging behind, is to have multiple streams of income. If your online business is affiliate marketing then having more than one affiliate program will help toward that end. If your business is service related, then having multiple, different kinds of services will help maintain a steady stream of income. Find out what folks need and provide it for them.

Again, don’t take the attitude that you can use credit and will have the return on your investment before the bill is due. NOT for sure. This is speculation that can get you in deep debt and even harm your credit rating when you can’t make a payment on time. Just don’t do it, period. Even that the sun will come up tomorrow is not promised, so do not speculate with your money.

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Have a Home Business Plan and Stay Focused

People really sometimes need to adjust their mindset when they switch from a regular career to working from home. It is just not the same and believe it or not even though your time is more flexible, you can easily become distracted and even start ‘slacking’ if you don’t cultivate good work habits.

work at home

When you worked at a job it is likely all the structure was already there and you just walked in and sat down. There are procedures and facilities already being used and you just need to learn how to do them. You have likely been given a job description that outlines your duties and the corresponding deadlines; you are either told or agree to your regular hours, lunch hour, etc. If you want to keep your job you will stick to the plan.

When you decide to start your own home business, you start right at creating an office space for yourself and build up from there. You do need a specific area for your business. While it is possible to work from anywhere you will find that as time goes by you need some organization and structure because you are being distracted and interrupted and/or somehow not getting things done timely.

For many reasons it is ideal if you have a spare room with a door where you can create an office space. Lacking that, then a specific area in a room that is used only for your business is next best. Even if you have to keep all your stuff in a box beside your computer, keep it segregated from newspapers, toys, ashtrays, cups, etc. Take it out as you need to use and put it back when you are done.

Part of your home business plan should include scheduling. Although your time is flexible when you work at home, you have to have specific times where you commit to devote to your business. It depends on your personal preference and energy level whether you want to do all your work for 8 straight and then quit, or whether you would prefer to work a few hours, take a break for a while, and then complete your tasks later in the day.

The point is though that you need to focus only on your work when you are working, get it done and then move on. One real challenge in working from home other than getting your kids to respect your work time, is to convince your friends and family that although you are working from home, you are working, and as such you can’t keep being interrupted by the phone and unannounced visits during your work time.

This may be difficult to convey without a conflict or hurt feelings, so just turn your voice mail on and do not answer it unless it is an emergency. This is a good idea anyway to screen your calls as when you start to stay home you will realize how many times telemarketers will call and some will call repeatedly every day until they get an answer. It is best just not to answer or return their calls unless you are actually interested in whatever they are selling which is unlikely.

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Everybody is Different – Effective Home Business Strategies

It is a mistake to think that ‘one size fits all’ when it comes to motivating people to start and succeed with a home business. What works for me may have the opposite effect for you. There are multiple home business strategies that you can explore to find what works best for you.

visualize dollars

For example, some people may actually find a benefit in ‘visualizing’ and this is all they need to stay focused and determined enough to actually cause their business to succeed by taking consistent action. This means they want to imagine themselves as wealthy, and to picture all of the things they would buy if they had the money. However others would be turned off immediately by this as they deem it to be ‘hokey’, ‘woo woo’ and even ‘witchcraft’.

Others who are logical will probably be most helped by having a solid plan of action, starting with being organized. They have specific goals for every stage of development. They will be interested in the concepts and theories, but more importantly will learn an exact plan of action that includes the steps they need to take, the resources they need to have, and to know how much time they will need to work each day.

Either way people need to be as committed to their home business as they are to their job. Just because we are our ‘own boss’ and can work ‘whenever we want’, we still need to treat it all very seriously if we expect to earn an income on a regular basis. We probably wouldn’t dare tell our boss, ‘Sure, I will do it tomorrow if I have time’ and certainly if we did, we would be sure to get it done at that time. When you ‘work for yourself’ it is all too easy to procrastinate and even just eliminate unpleasant tasks.

While nobody will fire you, it is less likely your business will be successful unless you are ‘taking care of business’ and ‘doing what you need to do’. On the one hand people are so worried about spending a few dollars as an investment to get their business off the ground; and yet then they will ignore what they need to do and may even quit without trying – wasting what money they did spend to start-up their home business.

It’s no big surprise that not everybody is cut out to be a home business entrepreneur – Some people function really well at a job where they have structure, and do a great job. However on their own, they just don’t have the motivation to do what may be a second job or something that will take up all of their spare time in the beginning. They are unwilling to make any sacrifices or to learn anything new. That’s ok, but then they need to understand they will always be stuck with the status quo for better or worse.

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Home Business Ideas and Opportunities

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