What it Takes to Be a Home Business Entrepreneur

Millions of people everyday are starting a home business opportunity and therefore are becoming entrepreneurs. But do they realize what that means? Most people do it because they are looking for a type of freedom. They want to be in charge of their income levels instead of relying on the limited raise their employer is willing to give them. They want to be in charge of their schedule rather than what their employer dictates. With those two main factors in mind, the home business opportunity seekers aim at having more money to travel and pamper themselves than their existing budget allows while having the time freedom to do it and thus spending quality and quantity time with the people most important to them, usually their family.

Those are excellent reasons for wanting to become a home business entrepreneur but what about the entrepreneurial part? What about the “Business” part? Do you know what it means to be in business, to be an entrepreneur? This is where many new home business owners spent little or no time considering. Between being an employee and an entrepreneur there is a world of differences as there is between being a downhill skier and a mountain climber.

The home business opportunity seeker wants to be his own boss and take control. But what is he or she taking control of? The new entrepreneur is now the “owner” of his or her business and while this is extremely exhilarating and providing a fantastic feeling of freedom, it also means a very different set of responsibilities. Rather than being a crew member on an ocean liner following the Captain’s directives, the employee turned entrepreneur is now the Captain of his own vessel and in most cases is a crew of one. Now in charge of absolutely everything, calling the shots and answering to no one but the person in the mirror. Again very liberating but also putting the accountability in one single place.

One must realize this before making the jump from employment to entrepreneurship. Nobody will order you what to do, you have to order yourself. Nobody will give you project deadlines, ask for progress reports and evaluate your final results, you will be expected to take ownership of all this and be accountable to you. When your business is not going the way you would like, you only have one person to turn to; yes the person in the mirror.

When being an employee, it usually means that you are employed by a business or some type of organization. And the name says it, it is “organized”. The employee’s work responsibilities fall into an organized system where all have a set of functions to fulfill that are accountable to a hierarchy of employees all the way to the top person who makes the overall decisions. No matter the size of this organization, the bottom line is that the owner(s) and/or the top employee (President) are the ones designing and defining how this well oiled machine will work and dictate who will do what – they design a system and plug in employees in each of the functions that will make the system work and deliver the desired results. Being an employee often means you have a limited view on the overall picture of how a business/organization is operated because you’re told what you need to know to make sure your function puts out the desired outcome.

When becoming an entrepreneur, you need to have a much broader and overall view of how things work because you’re the owner, the President, the Vice-President, the Director, the Manager and the Customer Service Representative all in one. You’re a one man show and therefore you must think differently than an employee does. With great freedom comes great responsibilities. If you have that level of responsibilities in you, then by all means, you have what it takes to be an entrepreneur. The responsible person is by definition accountable to themselves which is also a requirement to call yourself a home business entrepreneur. Add a good dose of determination to stay focused on target and voila, you have the recipe for the right person to fill in the chair in your home office. With those traits, all you need is to surround yourself with the right people to make it worthwhile and feasible to reach the income goals and time freedom you seek.

“Oh wait a minute Pierre, I thought you said I was a one man show! Who am I surrounding myself with?”

You surround yourself with the people who will design your system and fill in the functions you do not have the skills for yet. It would be difficult for you to fulfill all the functions of President to Cust. Service Rep. if you have limited knowledge of how to run a business, and this no matter how responsible, accountable and determined you are. You need to surround yourself with the people that have done the homework for you and have designed the system, applied automation to it in order to leverage your time, strategized on market penetration so you don’t have to wait to learn marketing before you see results, developed training so you can learn as your business grows and finally, implemented support so you always have someone to turn to when you need a Mentor, this way you’re in business for yourself but never by yourself.

The last place I was employed at several years ago was a business where the President was the owner and there are two things I noticed in my stay there which are still serving me today. First, is the fact that my work effort was producing 10 folds the money I was paid for which is why being employed is not the way to get rich. Second, the owner was far from having all the answers but he was wise enough to surround himself with the people that knew the answers.

You can be the owner of your own business and not know everything there is to know about running a business as long as you know who to surround yourself with. All you have to do is surround yourself with the system experts, automation experts, marketing experts, training experts and support experts and then, you call the shots; you’re a home business entrepreneur.

Four Tips For the Online Business Entrepreneur

It truly is a great time to be an entrepreneur.

Technology has leveled the playing field and there are online business opportunities for all budgets and knowledge levels. There are so many online business opportunities offering to help the budding entrepreneur make money online that it can be a bit over whelming and this is one of the first hurdles that the new entrepreneur has to overcome.

The online business entrepreneur now has more information on hand than ever before in history. You can Google search just about any topic and come up with more information than you can deal with in a day.

Making money online may not be as easy as just searching on a search engine but there are numerous opportunities out there for the entrepreneur that has a discerning eye.

The speed of the internet development and the speed of online business development means that the online business entrepreneur is better placed to identify and take advantage of online business opportunities than large corporations, that have multiple layers of policy and procedure. There are some things to consider as you develop your entrepreneurial online business though.

1. When should you become fully dependent on your online business for income?

I have heard of some people that had one good month from their online business and then quit their job only to find that within another month they are out beating the pavement for a new job because they didn’t make enough money to keep the momentum of their business going. This is another example of people failing to plan and so planning to fail.

You need to have a business plan that gives you clear indication as to when you are safe to leave your current job. This may mean long hours for the first few months and may not be as fast an exit from your old life as you would want but it is better than having to go ten steps back and then probably loose momentum and leave your online business venture for good believing that it didn’t work for you.

2. Decide on what you want to sell before you get online.

You need to know what areas interest you and what product lines you will be following before you even get online. This will help you maintain your focus because as soon as you get online you are going to be swamped with online business opportunities that could suck all the money from your wallet before you even get your first product on the shelf.

Know what you want to sell and then go and search it out. This is called ‘finding your niche’ in some circles and it is an important part of the online business development.

When thinking about your niche you may want to examine the competition on the internet in your chosen areas. It is very difficult for the small guy to come in and corner a niche that is already over full with experienced and often wealthy entrepreneurs.

Look for a niche that is not covered by the big guys, something that is selling at a reasonable pace but doesn’t have too many affiliates.

3. Make sure that you spend time developing your online personality.

Your online personality is your presence.

It maybe you have some accounts on Facebook, Twitter, YouTube and other social networking sites. It is imperative that you nurture your contacts on these sites in a way that you generate respect in your chosen area of online business growth and development.

Even before you start to promote your chosen products you can be involved with groups and be adding valuable information to forums and blogging sites.

Get yourself known as someone that people can turn to for support and help. Write articles, create blogs and squidoo lenses. Promote yourself and your presence at every opportunity.

4. Finally the last thing that you should do or not do is give up. One of the analogies that I like is the one degree it takes to get hot water boiling.

At 100 degree Celsius water boils but at 99 degree it is just hot. Many online marketers give up just at the time that the water is going from hot to boiling.

They put in so much energy and then they drop out before the surge takes place. You will get frustrated and you will feel that you are wasting your time but you should never give up on trying to make your online business venture successful.

There is nothing wrong with failure; we just don’t want to repeat the same mistakes twice. There is nothing wrong with falling flat on our face; so long as we get up and move forward.

Home Based Business Entrepreneurs and the Internet Affiliate

Home based business entrepreneurs are ahead of the recession and its crushing effect on big corporations. Average working men and women, in the spirit of the entrepreneur, are stepping up to the plate to beat the odds and start their own home based business.

In Canada, small and medium sized business is the hope of the future. This segment of the population has been described as the backbone of the economy. Making the decision to take control of their financial future by supplementing or replacing their employment income is more prevalent today.

More emphasis is being placed on entrepreneurial endeavors to stimulate a sagging economy. Governments are offering tax benefits and incentives to develop work at home initiatives. There has never been a better time to look at alternative income choices.

Home based entrepreneurs can start a work from home enterprise at a fraction of the cost of traditional business start ups. Many entrepreneurs have a product of their own creation they wish to sell. Developing a product requires a lot of commitment and dedication to get the product ready for the marketplace. You are responsible for all aspects of developing your marketing plan and the costs involved can be substantial. In fact, the costs involved can be prohibitive for most people.

There is another way. The Internet offers a multitude of ways to start work from home. Many companies who have realized the power of the Internet as a marketing tool have developed opportunity plans to include the Internet. Affiliate programs come in all sizes and shapes, so to speak. Each company has their own unique way of compensating their affiliate members. Taking the time to research the company, its products and its compensation plan makes sense.

A well developed marketing and compensation plan creates a win-win-win situation. The company builds a workforce that doesn’t get paid unless product is sold. The distributor or representative of that company has market ready products, professional marketing and promotional information, flexibility to work their own hours and can earn compensation when product is sold through their network. The customer or end user gets quality products at competitive prices.

Advantages of an Internet home based business vs brick and mortar storefront:   

    * Low start up costs – often less than $5000      

    * Low maintenance costs – many under $500 a month   

    * Global marketplace

    * Low advertising costs    

    * Business partners instead of employees     

    * Schedule your time around your family needs   

    * Online cost effective marketing resources      

    * Tax advantages

More and more companies are becoming exclusively Internet based. Developing an online home business has some definite cost saving advantages. Once you have made your decision to build a business online, be sure it is a business to be proud of. After all, you will have to put in considerable time and energy to create a long term online presence to make money online.

Affiliate marketing is popular with entrepreneurs who don’t have their own product or service to market. A company that offers affiliate programs will pay you a commission to sell their products. They generally include marketing web sites, promotional tools and marketing information to get you started. The biggest advantage is instant start up. Once you have entered into an affiliate program you have everything you need to be successful in your home based business.

5 TIPS for Home-Based Business Entrepreneurs

Have you ever heard that only a small part (5%) of ‘all’ Home-Based Business entrepreneurs achieve success?

Do an online research on your favorite Search Engine
and you will understand what I mean.

In this article I’m going to show you the KEY to Home-Based
Business entrepreneurs success; you’ll find out what makes an
entrepreneur successful in the home-based business field.

Below are 5 TIPS for Home-Based Business Entrepreneurs:

1. It’s their mindset that brings success

Serious entrepreneurs have ‘programmed’ their mind to succeed no matter what. They don’t lack focus on their home-based
business and let nobody stop their plans in achieving what
they want.

They know what they want and they have the DESIRE to succeed. If you don’t know exactly what you want when it comes your
home-based business, think about it again and re-consider your
plans, what you want to achieve, a get-rick-quick or a
profitable, long term business.

2. It’s their start-up plan that brings success

Smart entrepreneurs know that it takes time to set-up and grow a profitable home-based business. They plan to succeed. They
have a start-up plan that might fail but they never give up and
start again with a better plan.

Serious entrepreneurs know that it takes discipline and
time to build a strong and solid home-based business, which delivers ongoing income through many years to come.

3. It’s their initial RESEARCH that brings success

Smart and serious entrepreneurs know the importance
of market research. They know that in order, for a home-based business to succeed, they have to research their target market (their potential customers) and study their competitors.

Research your target market and study your competitors
in order to have a long-term, profitable home-based business.

Know what your customers want and give it to them.
Keep an eye on your competitors, study their offer(s)
and make sure you come up with a better deal than
them.

4. It’s their marketing strategy that brings success

Study each successful entrepreneur in your marketing
field and you’ll notice how they market online / offline.

Each of them have their own ‘unique’ marketing strategy
but they use the same basic principles.

Don’t re-invent the wheel. Use the main marketing concepts
that are proven to work but try to improve and adjust them
to your own situation. Make them work for your home-based business. Make your offer better and unique than your competitors if you want to WIN in this business, or simply quit (I know that’s no what you really want!)

5. It’s their investment that brings success

Smart entrepreneurs know that the KEY is to work SMART, not hard. If you don’t have the required skills to develop a NEW marketing tactic for your home-based business why not hire a consultant who knows his stuff?

If you have ‘enough’ money why not invest in someone who can help you grow your home-based business and give me something to work at too?

What is more valuable to you, your time or your money?

A serious entrepreneur is ready to invest (both time and money). He knows that he will build a long-term successful business for him and the one he loves (friends, family, children, etc.)

The final (or first?) STEP you need to take in order to succeed
is to act (take ACTION!). Yes, put into practice what I have
told you above (the 5 TIPS for Home-Based Business
Entrepreneurs) and you’ll succeed, no matter what. Trust me!