Business Potentialist | Speaker | Author
More often than not in today's day and age where you’re having to tighten your belt and look for alternate methods of generating an income to make ends meet, you will find that more people are looking to start a new home business or are already in a home business but question whether it is the right one for them.
Starting a business from home should be something to look forward to, yet for many this can also be a time of concern and self doubt. I am sure that if you are reading this article, you might agree with me that while being a new business owner sounds wonderful, it can also easily turn in to a financial nightmare if you don’t follow steps and setup up your business correctly from the get go. To clarify – there are various types of business and also industries, for today we will use multi level marketing or direct sales as a business opportunity. I know how I felt when I first started out in my own business and am sharing with you today some tips that I still use in my business and that you can consider to. The 7 points listed below are important areas that need to be considered before getting started in your new business. It’s very important to think about these details because these could make or break your new business.
1. Understand and get a good grasp on why you want to start your own business, reflect on what it takes in terms of capital time and effort and ask yourself whether you are prepared to do whatever it takes to achieve success in your new business. Starting your new business and working for yourself is not at all like working for a boss, A certain measure of self discipline is required and at times it can be all too easy to go for a coffee instead of work on your business that day. Are you prepared to put in the hard yard when it is needed, each day will be made up of the good, the bad and the ugly. Are you ready for this?
2. Get clarity on your capabilities, making a list of all your skills is a good place to start and don’t be modest, list it all. Writing a list of all the things that you can and cannot do can be quite an eye opener and often we overlook things that seem insignificant but can be very useful in growing a successful home business.
3. Identify your areas of weakness. Making a list of all the skills you think a new business owner would need in managing a business daily. Identifying your weak areas gives you the opportunity to strategise and plan better, either improving those areas or identifying the areas that you at a later stage could possibly outsource. For me organisation skills were definitely a weakness and my office often had loads of documents all over, I soon realised early on in my business that for me to retain my sanity and to grow my business effectively I would need to get a good grip and systematic approach to organising my office, files, clients, daily routine etc or source someone t
o ensure that all this was done for me. Identifying this as something that I am not good at or don’t enjoy area, I managed to remain productive and also free up time to spend on doing functions that I am really good at.
4. Face your challenges. Taking on a new business is a challenging thing to do , not with standing the every day challenges that you might face personally, like procrastination, Fear , self doubt etc. Be sure that you have systems and controls in place when time get tough ( and they will ) and you feel like quitting. If need be find yourself a mentor, a dyed in the wool role model, an unreasonable friend! My belief is we all need someone who can call it as it is, hold us accountable and take us to the next level of total fulfilment in any area of life, because very few can get to that next level by themselves – with certainty!
5. Make sure you know what you want in a Home Business – Do your research, My suggestion would be to create a check list with the criteria that will suit your passion , your pocket and your lifestyle. Some points to take into consideration are; Legitimacy of company, What products or services do they offer. Will you be given sufficient support and training initially?
6. Understand your Market and Industry. Who are the major players within the industry, What is or what is not working for them right now. What can you take away from them is terms of strategies, products and service provision. Are they making inroads into the industry and if so what makes them different. Knowing your strengths as well as your companies marketing strategies and strengths can be advantages. Be sure to find an area of difference that you can use as your competitive edge. Engage the services of a coach or mentor – as I mentioned in point 4 above à If need be find yourself a mentor, a dyed in the wool role model, an unreasonable friend! My belief is we all need someone who can call it as it is, hold us accountable and acts as a guide or brainstorming partner when required. You’ve probably heard this often enough – Every good coach has a coach, so do sportsman, so why would you and I be any different?
7. Set your personal and business goal. Using the acronym S.M.A.R.T – set goals that are Simple, Measurable, Attainable, Realistic and attach a Time frame to them, a good example of this would be ; By Dec 30, 2012 I will add 2 new clients to my growing client base, using Facebook as a marketing strategy. And last but not least.
8.) Have fun. Find the lightness in what you do. Have a passion for what you do. If you do not love what you do, then you’re not doing the right thing.. you will not want to give your all to something that you have no passion or enjoyment for and in time will start to feel resentful and eventually this could lead to giving up. Lack of marketing training is a common occurrence new home business owners, internet and network Marketers face . Many newbie entrepreneur don’t place enough emphasis on sufficient marketing training , Sadly, this is also the cause of 97% of new home business owners failure . Ensure that this does not happen to you by plugging into a marketing systems that will provide training and support as well as teach the steps to generate traffic online and new fresh leads / prospects for your business.
To your success
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