Home Business Ideas and Opportunities

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Don’t Rush Your Home Business Start-Up

You’ve no doubt heard the saying ‘Haste makes waste’? It’s true sometimes and it is better to be ‘safe than sorry’. If we are not sufficiently logical in making our decision we could be wasting our time and money. There are junctures where you need to spend time to try to keep from making mistakes.

take your time!

However once we get it rolling, we can’t be in a rush to see results. You need to do the time to develop your process and build momentum. If you are looking for results after putting out 1 ad or waiting 2 days, you are kidding yourself. You will need to keep advertising and doing the work even after you get that first sale. It takes preparation, maintenance, (effort) and patience (time)!

It is just plain silly for people to believe that somehow even if they have no previous experience in marketing and advertising online that they are going to be instantly successful. You must make a point of reading anything written by experienced Internet marketers that tells how they struggled to get off the ground and saw it through until they achieved the success they now enjoy.

Many people who are not realistic may make some attempt for a short-time to promote a business, but for some reason they can’t seem to understand it is not as easy as people can make it sound. This is only important so that you do not become discouraged right off and give up before you give yourself a chance.

Unless you have a list of existing customers and prospects, you will need to spend some time creating one as you go along. Don’t wait, start advertising as soon as you can. However understand that it is much easier to appeal to someone with whom you have at least name recognition.

Not everybody who sees an ad will respond. In fact only a few will. It is a lot like ‘finding a needle in a haystack’. You have to eliminate all the people who are not interested in home business and you need to find the few that will show an interest and respond at least for more information.

If you want to have a real online business that generates income, you can’t stop just because you make one sale. You must keep it up to find the second one and so forth. Your business may involve either one-time sales or if you are for example an affiliate marketer, residual income. While the latter lets you continue to earn income in the future from the initial sale, people may quit at some point,and you will need to find new sources of income. Don’t wait until you are fresh out. Be prepared for the inevitable to keep your business afloat.

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Home Business Start-Up – Credit or Savings?

You may be playing a losing game if you are using credit to fund your business start-up, unless you are prepared to pay your entire balance each month. The maze begins because when you have cash you need to pay your credit card and other bills. If you need cash even for necessities, you are forced to use your credit, aka ‘funny money’.

make it don't fake it

It may just seem natural to use your card for business expenses, particularly online where you may be required to use a credit card in order to make a purchase. If you start planning to start a business by creating a savings account that will be for business operating expenses, it makes much more sense to your bottom line. If you have saved sufficient funds in your savings account to make a purchase, then use the credit card, but prepare to pay the entire balance from your savings as soon as you can (try not to accrue interest) and no need to since you already have the money to pay.

Ask yourself if you have any gambling addictions or compulsive spending habits. Please be honest with yourself because if you do, then you have to be very disciplined in your spending, more so than others who do not feel compulsive about spending money. You should definitely get serious about this before you go bankrupt. Your situation can get out of control if you do not have enough income to cover your expenses. Never speculate, which even with a fancy name is still gambling.

If you are using credit now, do some simple math with examples. Do some calculations that prove how interest due on the money you borrow from your credit card adds up quickly and compounds. It is costing you a lot of money to use credit instead of cash (savings). Never spend more than you have immediate custody of, no matter what the excuse, including investing in your business. Only use your credit line for emergencies, other than what you can pay each month to erase any balance, as defined above.

Preparing for the unexpected should be done before it happens. You never know when the unexpected will happen. The idea to be prepared ‘just in case’ is a good, safe one. We hope nothing catastrophic ever happens, and if it doesn’t you have a windfall. We need both savings for emergencies and a business operating budget. You can probably have two free savings accounts with minimum balances.

If necessary part of your business plan should start with how much money you have to invest each month to fund the start-up. You should start putting away money into a savings account if you have a job, each payday. Even $5 will add up believe it or not if you are consistent and don’t use it.

Building a New Business? Stick to It

Peoples lives can sometimes take sudden turns, If that happens, we have to take detours. Some examples of changes could be that our day job has increased the number of hours we are required to work there, so we have less time to devote to our home business.

Do what you gotta do

Or maybe it will be that our financial picture changes. We may have seen the cost of something crucial increase, such as our housing cost or utilities. So again, now we don’t have as much ‘spare change’ to use for developing our new business. The last possible disaster worth mentioning here is that we have had a full-time job and have been building our home business slowly, part-time while we survive on our day job salary. We learn that the day job will be eliminating our position and we need to find another full-time income right away.

Ideally we would be able to devote more time to our home business start-up and eventually make that our primary source of income. If you are entitled to severance pay and/or unemployment insurance, you can probably survive in the interim period and still have time to build your business. The point is that whatever the situation may be, don’t give up your idea to build your own business. If you had plans to do it one way, don’t give up just because your plan has to change when life gets in the way!

Create a new plan, do the same thing but do it a different way. The point is not to be too quick to assume you have no choice but to give up the new business you are building. Many people do not consider their home business to be serious. Obviously if you lose your day job before your home business is generating substantial income, you have a major crisis. In that case it is probably the wisest thing to do to find another day job first – ideally only part-time so you have more time to work at home to build the next chapter of your life.

More people could actually succeed at earning a substantial income from home if a million different things didn’t always take precedence over your home business. This is possible because you are not accountable to anyone else. You need to be accountable to yourself. You need to create a real plan that includes a budget and a schedule and commit to it. Realize what your living expenses are and take stock of how much money you actually have to cover them and by what date. Anything left over is ‘free’ to use for your business expenses.

Business opportunity shopping can create a ‘crazed’ mindset just like any shopping can! Sometimes it can be likened to a kid in a candy store, who wants one of each thing in the store. However this can be disastrous for more than financial considerations. It can be really disillusioning because of the expectation of a return on the investment. If you are having no results on one business opportunity, it is likely it will be across the board with all of your other risks. If you are seeing no results because you are not investing enough time and effort, that is what you need to focus on, not quitting.

Get Rid of Your Self-Limiting Beliefs

There is a saying attributed to Henry Ford, “If you think you can, you probably can, and if you think you can’t you are probably right.” You should seriously think about the meaning of this. We really do limit ourselves if we believe we can’t do something, we don’t know how, we can’t afford to, we don’t have enough time, or we always fail. So why even try if we already (think) we know we can’t do it? We won’t try right now; or we will quit trying in the future.

improve your mindset

If we really believe that we can do something – even though we may not know how at this moment, we become determined to do what we want to do and will make it a priority to find how. If we encounter obstacles they will be temporary, merely some detail that needs to be resolved and not a deal breaker. Depending on how important the issue is to us we will take steps to arrive at the conclusion that we can and we will.

We are fallible and vulnerable as mere human beings. Therefore we must do everything we can to build up our defenses. Often the worst enemy or problem we have is in our own mind. We need to ‘feed’ our minds and spirits to keep them strong, just as we must eat nutritious food and get plenty of exercise, rest and relaxation to keep our immune systems strong; all part of the same machine.

Keeping our minds and spirits healthy and strong may require constant attention. Particularly if you have in the past been in an environment that gave you little support and/or affirmation, or you have had some tough breaks, then you particularly need to convince yourself that you can and will do whatever it is you really need or want to do.

Some of the most compelling success stories begin with a tragic past or just some hard knocks. It seems that often the harder one has to push uphill, the stronger they become in character; This as compared to those that always had everything come easy. They may become complacent and never try to do anything that requires effort or sacrifice.

A home business start-up won’t be easy. There will be obstacles to overcome from time to time. You will have to give it as much effort as you have time, maybe without seeing results in the beginning. You will hear about all the horror stories and what you hear may be true or not, either way you do need to do your ‘homework’. You will see there are also a number of average people just like you who have become successful home business entrepreneurs.

However, you have to really understand that what has happened to others either bad or good, does not necessarily mean it will be exactly the same path or result for you and your individual situation. However, it will help if you can visualize yourself as one who does succeed, rather than to identify with the whiners and ones who didn’t make it, for obvious reasons.

Want help? Start talking to yourself. Remember all the good times and make a list of the various things you have done that succeeded; things you are proud of, your various accomplishments, no matter how small. If you hear evil voices telling you that you will fail or you can’t, erase them from your mind and replace those thoughts with good ones.

New Home Business Start-Up – Having Target Goals

If you are really serious about wanting a successful home business, you should start right out being organized. This involves having lists that include tasks and clearly outlined target goals you need to accomplish.

aim for your target

A few tips about making ‘to do lists’: Do not try to put a whole year of tasks on one list. You should ideally have at least three lists – one for now (today or this week for example), one for near future (the month) and one for distant future (6-months to a year for instance).

One reason for this is so that you are not trying to be organized using a list that looks like a complete snarled (scribbled) mess. Every time you cross something out because it has been done* or been cancelled, it gets harder and harder to navigate. Remember you don’t want your lists to become another obstacle. Lists are to help you, not hinder you further by becoming tedious.

Another tip about lists is that you should be realistic. Don’t put something on the ‘now’ list unless you are absolutely sure you will do it today or this week. When you don’t get to it, cross it off and move it to the next list = whether it will be part of the newest ‘today’ list you will create or pushed out to ‘near future’.

A point about not doing what you projected or planned, is that it can get discouraging when you don’t accomplish what you intended. No just once or twice (stuff does happen), but as a rule. If you often do not meet your deadlines, it would be a good idea for you to analyze what is happening to keep you from your target goals.

If you are really sophisticated you might want to look into Gantt Charts. It is really fun if you like to plan in detail. It has charts that show the beginning of a project and what needs to be in place at that time. Then as you go along it lists the dependencies. For example, can’t use the swimming pool until it is filled with water. It outlines how much time and what resources are necessary to accomplish each step of your plan so you can be ready for the next step.

Remember the tighter your plan and the closer you stay to the target, the better the outcome for your business. If you are a born procrastinator, you may find that just having the plan will encourage you to accomplish your target goals pretty much on time.

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