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A new home-based business opens every second. 25% of the people living in
North America are involved in home business in some way, and it's no wonder
when you consider the alternatives. Our Western Capitalism depends on a
company earning more from your efforts than the amount they pay you. This
model simply doesn't work any longer for many of us. Everyone seems to want
to own his or her own home based business. Surveys indicate at least 85% of
all Americans would like to own their own business.
Did you know that 9 of 10
families now require two working members just to make ends meet? So who is
left to raise our children?
The average job today pays an
average of $27,000 a year. This hasn't changed that much in the last few
years, but the cost of living has almost tripled since 1965.
The average Western home-based
business generates over $50,000 a year. Not all home based businesses earn
that much, especially in the beginning, but some earn many times that
amount. That brings up the overall average. The best part is that we get to
choose to be one of the ones who make the most, or the least. It is up to us
- it's not up to anyone else.
A home based business offers
advantages that are unavailable in most professions. We can reclaim the true
freedom missing in most of our lives through a home-based business. The
Internet truly offers an opportunity of a lifetime. It is leveling the
playing field and is making it possible for anyone to sell and compete with
the big guys worldwide.
Don't jump to the conclusion
that you can get rich quick. Some do, but most won't! It takes time and
effort, especially in the beginning, just as building any other worthwhile
project. You first build a foundation, then gradually "grow it" from home."
A great tree starts with a
very small seed. The potential for an entire tree is already present in the
seed. If you can envision the potential, you can achieve the results. This
is the foundation of my business, and why I am writing this today.
As your home business grows,
it gradually takes less and less effort two key concepts that must be
understood are in a nutshell:
- You may not earn much -
or anything - from the initial work.
- You earn residual income
AFTER you do the work.
When you see a movie that you
enjoy and tell someone else about it, you are, in effect, selling the movie
to that person! The highest paying profession in the world is sales! Selling
is simply sharing stories and helping people. Everybody hates selling, but
almost everyone enjoys helping others.
THERE ARE FIVE WAYS TO
EARN
Working A Job:
This is the way the majority
of us earn income. It's the easiest way to get started but in the long run,
it's not usually the best way. You may work for years developing specific
skills, only to be replaced at any time by the whim of the company employing
you. Your employer must earn more from your efforts than you do.
Today if you have a job, you
will most likely work more than 40 hours a week. Employers today maximize
your efforts in order to make a profit. If you work at a regular job, you
should really love your work because you will be spending most of your time
doing it.
Owning
A Conventional Business:You may sell or resell
goods or services. This method usually requires you to make a major
investment. You need to lease or Buy a physical store then spend money to
get people to come to it. Eighty percent of all Conventional l businesses
exist less than 10 years.
Even if your conventional l
business succeeds, you won't be the boss. Every customer is your boss.
Growing a conventional business requires very long hours and years to build.
In the end, your business may end up owning you. The odds are against your
success because:
- Operating costs are too
high
- Bigger companies can
undersell you.
- It takes years to grow
profitability.
- You depend on profit
from the labor of others.
If you begin without
substantial funding, you have only a small chance of success, and in the
end, owning your own conventional business is another form of selling.
Investments: Stocks and bonds, venture
capital, and other investments are proven ways to earn income, but again,
they require substantial up front capital. There are two major problems you
must overcome to enjoy success.
- If your money is to earn
money, you must have a great deal of it to start with. Most of us don't.
- It's high risk, you can
lose money almost as easily as you make it.
Earning Residual Income:
Earning Residual Income is a Popular and efficient way to earn income. It's
the way that inventors, authors, actors and musicians earn income. It's
called "residual income". Future earnings are derived from work you have
already performed.
Royalties, licensing fees,
distribution fees and commissions are examples of this Popular earning
method. You can earn unlimited income for many years for work you have
already performed.
Home Based Business:
This is one the best methods for the rest of us. It usually requires very
little up-front investment and the income earned may continue to grow long
after your initial efforts are complete. Once you have established your own
home-based business, your initial efforts may continue to generate income
indefinitely.
You should consider the
following when selecting a product or service to market from home:
When you choose your
first home business start in an area where you have already developed some
initial interest and knowledge. If you don't have a passion for it, you
probably won't follow through.
Keep your costs down as
low as possible at first. Work on producing a targeted income. This seems
so easy when you start and you may assume your product will make some
money because others have, or said they have, made money. The truth is
many people make little or no income the first time out. You need to learn
what to do and how to do it. At it's best; it may involve some planning
and testing in a sort of trial & error on your part.
Your first goal, when
considering a home business opportunity, is to determine:
a) What is required to earn
$300?
b) What can I do to earn
$300 a month?
c) What can I do to earn
$300 a week?
d) What can I do to earn
$300 a day?
The Home Business Solution
Look for a turnkey
business system, if you can. Most people spend too much money, and not
enough time, promoting their first home business. If it doesn't pay off in
a few weeks, they go around telling everyone, "Internet marketing doesn't
work". I can't tell you how many times I've seen Internet "newbies" spend
$300 to $1000 to earn under $25 dollars the first few months.
Choose your affiliates
and teammates wisely, as if you were hiring management employees to your
staff, because that's exactly what you are doing. You want to find
self-starters who bring more than an appetite to the table.
What Do You Bring To The
Table
Your time is important. In
the end, the time you invest is your product. People who learn quickly,
can plan, and are willing to work, are the ones who will stick around, so
don't waste your time trying to make people into something they are not.
Many people are looking for
someone to hold their hand. It's OK to hold someone's hand from time to
time, but you can never succeed with someone who does not understand how
to do the work. The best thing you can do for others is to share what
works best for you. The process is called duplication.
Duplication Is A Key To
Online Success
People are used to having
jobs where they are told where to go and what to do. The majorities are
waiting for someone to tell them what to do. When you find these people,
send them to "those other guys" who will hold their hand. You will be able
to help them only in rare cases anyway. Most affiliates 80% - 95% do
absolutely nothing.
"Every seed gives birth to
fruit of it's own kind", you are looking for those seeds that are ready to
grow. You would never plant a peach and expect to grow a watermelon. It's
not in its nature, just as you would never plant cactus in a rain forest
expecting it to do well, again it's not in it's nature.
Success in home-based
business depends on a set of learned professional skills. To choose people
to work with, listen to what they ask or tell you - that's why God gave us
two ears and only one mouth.
Think long term. Most
people give up long before making very much money. Don't spend extra money
or time in the beginning, and don't allow yourself to be rushed into a
decision. Most Internet scams depend on making you believe you must act
now. The truth doesn't change over time, but scams always promise more
than is reasonable to expect.
It's often what you don't
know that ruins your chances for success. In almost all cases, look for
bottom line first literally. Read the fine print first. Realize that very
often it's what they don't tell you that count. Later, when you ask about
the fine print, they will tell you should have read the entire offer in
the first place including the fine print. Know what you are getting into
BEFORE putting out your time & money. Success is in understanding the
details.
If it sounds too good to be
true, it usually is - especially on the Internet. It's that simple. Since
most people fail, I study what everyone else is telling me to do, and then
I do the opposite.
Your long-term results will
depend FIRST on your efforts - not the efforts of others. Take your time.
It's important to choose wisely in the beginning. You can't go back and do
the beginning over.
Success doesn't care how you
get there. Success is based on your taking the time to understand the
basic principals. Most people go from one opportunity to another, waiting
for success to come to them. I call this the Internet lottery.
In order to make the big
money you need to learn how to earn a little money first. Once you have
earned something, you can teach others how you did it. When you help
others make the same money you are already making, you will earn more and
more yourself.
Once you start making
money grow then diversify. You must learn to make your business grow
FIRST. How else would you get the funds to diversify? Long term you want
to develop several income streams. You diversify so that all your eggs are
not in one basket.
If McDonalds had stopped
with the first hamburger stand, it never would have become the giant it is
today, but if McDonalds had gone into the car business after their first
success, they wouldn't have been able to leverage their successful fast
food experience. After you start earning money, start planning how to
leverage what you have already learned.
Your first on-line business
should offer products that are already in demand, just as any good
investor will Buy conservative stocks and later diversify into other
(sometimes more risky) investments.
In the long run, develop a
mix of conservative businesses and shoot for the stars as a sideline.
TARGET & DIVERSIFY
I worked a single on-line
business for almost a year and used most of the knowledge and profits to
diversify my business. Now I am reasonably comfortable producing several
independent income streams. I couldn't have been successful if I had not
spent the time learning the first business, but I could have chosen that
first business more carefully and saved a lot of time.
Build your own marketing
team. I use a concept I call a Mastermind Alliance. This is cooperative
marketing that uses your strengths plus getting help from others it their
areas of expertise. In a perfect world, everyone would do what he or she
was drawn to and skilled at doing.
A Master Mind Alliance
I prefer to call affiliate
programs and multi-level marketing cooperative marketing. Why start with
new people every time you discover a new opportunity? Isn't it smarter to
bring in the people you have already worked with before? How about going
with them when the opportunity is perfect for their skills and interests?
Build a team, learn to be a team leader, and then learn to know when to
follow someone else.
Once you learn how to be
a leader, then can learn to serve. You will find that if you focus on
making your team money, you will end up making more yourself. You do this
by teaching and learning. You will find that other leaders will want to
work with you if you build your team right. Each teammate may all focus on
different aspects of the businesses, and using cooperative teamwork and
synergy; you will all earn more, and do a better job.
The Power Of Team Building
In Multi-Level Marketing
Absolutely anyone can make
money marketing goods and services on the Internet. Internet marketing
requires development of a specific professional skill set. Start small; do
as much as you can on your own; find others to trade support; and most
importantly - never give up
If you follow this
prescription you can't fail unless you quit.
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