How Home-Based Business Entrepreneurs Think

Too many people are trying to start their home businesses with an ordinary employee’s way of thinking. This has become a common reason why not long after sitting down and giving it a fair look into even the most lucrative business opportunity they bump into, they put it away and decide not to take any chances.

What has happened here is that the most lucrative business opportunity has been looked into by an ordinary 9-to-5-worker, who appears NOT to be business-minded.

If you are like most people, you have probably considered starting your own business yourself. But above all, you have to understand that to make into a successful Business Entrepreneur, one has to change their way of thinking first.

1. DO NOT EXPECT FAST CASH!

Besides gambling or winning a lottery, working as an employee is the only way to get ‘fast’ cash… ‘fast’ as in ‘in-25-working-days’. This kind of cash is always certain to come in as long as you work from 9 to 5 for your boss. But as you probably already know it, as soon as you stop, the money stops. (See FinancialFreedomAwaits.com).

True entrepreneurship-minded people know that it takes time to develop an ‘attack plan’ for their businesses. It takes time to build a strong and solid business, which delivers ongoing income through many years.

True Business Entrepreneurs hold on to this truth, “We reap what we sow, but the harvest is never in the same season as the planting.”

Change your way of thinking:

DO NOT EXPECT FAST CASH!

2. AIM FOR JOB SECURITY OR FINANCIAL SECURITY?
Employees would rather have job-security. Why? Simple: the income is secure. As long as you loyally work from 9 to 5, you will for certain get your cash! The problem with a typical job is that when you stop, the money stops.

The stark fact is: one day you might get sick and won’t be able to go back to work. Sooner or later you will retire. Companies get broke and have to release their employees. No matter what the situation, as soon as you stop working, the money will stop coming.

So much for secure income…!

A job with secure income is necessary for those who has not set up their own business yet. True. But a true Business Entrepreneur won’t settle merely for job-security. He aims for much more, such as financial security. No, he won’t have fast cash. And no, he won’t have any secure income yet – at least not in the beginning. And often, he won’t have any income at all from his new business for the first few months.

Business entrepreneurs think of the big picture. What they do is building assets from which his money will come in month after month, year after year from work he is doing now! The money will not come now. It might not even come for the next few months. But as soon as his business is up and running, it will keep generating income for him, even when he chooses to stop working!

And THAT is financial security!

Change your way of thinking:

THINK OF THE BIG PICTURE: AIM FOR FINANCIAL SECURITY!

3. GENERATE PASSIVE INCOME

Financial freedom is not measured by how much money you earn by working, but how much money comes in with only little or no work at all. This later kind of income is called passive income. This fact has been known for decades by real wealthy people.

Successful and wealthy entrepreneurs do only little work and sometimes it is even possible to do the work only once but still generate recurring income on it. Imagine a song or a book writer. They write their songs or books once but get paid forever on it. This do-it-once-get-paid-forever type of income is called residual income.

Most people who have attained financial freedom have other people working to generate income for them. Earning money by other people’s effort is called leveraged income.

As hard as it may seem, to create leveraged income, you need to have your own business where other people work to generate income for you. Any business. Whether it is a traditional business, franchise, small business, internet based or home based.

Employees work to generate secure income. Business Entrepreneurs work to build assets with income streams which generates for him ongoing passive income (either residual or leverage income or both). In other words Business Entrepreneurs work to build himself -what I would call- a ‘money-machine’ which is designed to generate ongoing income.

Whereas the Employee can not stop working because otherwise he will lose his income, the Business Entrepreneur will have money coming in constantly, even when he chooses not to work, simply because it is his assets that generate residual and leverage income for him.

Change your way of thinking:
TAP INTO PASSIVE INCOME BY GENERATING RESIDUAL & LEVERAGED INCOME!

4. INVESTMENTS

It is common for people who seek job security to hesitate to invest. The reason is understandable: for some of us the risks of investing in a business are just too much to handle.

A true Business Entrepreneur understands that in order to build -what I would call- a ‘money-machine’, investments are necessary. There is just no such things as businesses without investments. He knows that it takes time and effort to develop a successful business. But he also knows that investing money is just as important!

Sometimes it takes the Business Entrepreneur a year or two before he can finally reap the big success. Sometimes even a bit more. It takes a couple of years of investing time, effort and money. But this is not too hard for him to handle. A true Entrepreneur thinks long term. He knows that in the end, his working and money investing will finally pay off!

A Home Based Business Entrepreneur would only have to invest just 5-10 hours a week for a couple of years and he would only have to make low budget investments into his home based business. And at the end of the time of working and investing, our Entrepreneur would have turned it into a significant amount of residual income stream!

I’m not talking about money that comes in today and is gone tomorrow but income that keeps coming in month after month, year after year… money that -as Gery Carson has put it- “when you’ve left this planet continues to provide for your spouse, children, or grandchildren.”

By then you would think that all your valuable time and money you have spent would be worth it.

Commonly an ordinary employee, who fears too much to invest, works hard to receive his pay check every month. Most likely he even retires broke. Before he knows it, he leaves the planet with nothing to leave for his family.

A true Business Entrepreneur is prepared to invest. He knows by investing in his business he is building assets that would generate passive and residual income for him throughout his years on this planet and the years of his grandchildren.

Change your way of thinking: THINK LONG TERM: START INVESTING!

Every Business Entrepreneur Should Have a Mentor

A must for any home based business entrepreneur is a mentor. Have you met yours? This is a person with more entrepreneurial business experience than you possess who becomes someone you can trust over a period of time.

You may wonder why having a Home Based Business Mentor is important for the development of your online business. You may have friends and family that you respect their opinion for certain areas in your life but not necessarily for your business. That’s where a Mentor can help guide you in the right direction for your business ventures.

If you are an entrepreneur and have dreams of running a highly successful business, I would highly recommend that you go out and find one. It’s not easy to find a good Mentor but they are out there and are willing to work with you to build you a successful Home Based Online Business. When I found mine it made a world of difference in my approach to having an online Internet business. It has made a huge difference in my success on the Internet and when you find yours you will start having the success that you want for your business.

You might be asking yourself at this point, so how do I find a Mentor?

It’s not always an easy task but one worth researching for the future success of your business.

Here are a few key characteristics to look for in a Mentor:

1) Do they share the same values that you do?

2) Make sure you have good rapport with this person and are willing to listen to them, even if it is something you may not want to hear.

3) Does your Mentor have goals that line up with yours?

4) Are they willing to use their energy and time with you? (Assuming you don’t waste their time)

You may be thinking “Why would someone want to Mentor me, for free?” The answer to this, most of the time, is by helping and guiding you to build a profitable business, this helps them build their business at the same time. So it’s a win, win situation.

There are numerous advantages in having a Mentor at your finger tips:

* They have “been there and done that” on their side.

* They provide this experience to you for “free.”

* They expand your networking world because they may put you in touch with other experienced people you would have never had the opportunity to work with.

* You will develop a long term and trusted relationship over time.

* You will end up with a highly successful home based business.

Once you find your Mentor for your business, I am assuming you want it to be a healthy and long lasting relationship, I highly recommend that you respect them by doing the following:

1) Respect them by not wasting their time.

2) Be absolutely honest with them, even when it might have them respond with something you don’t want to hear.

3) Stay focused on the business task at hand.

4) Show up on time for any appointments with them. Let them know in advance if you can’t make it.

5) Keep all commitments you have made with them.

6) Make sure to finish all projects they have assigned.

7) Come to the table with a positive outlook and be solutions oriented.

If you follow these simple guidelines, it will make for a successful and profitable business relationship for the both of you.

My final thoughts on this subject: “Go find a Mentor if you don’t have one already.They can provide you with a path of prosperity for your business life. As you can see, there can be many rewards and the risk is zero! They are essential for the home based business entrepreneur.

Small Business Entrepreneur – Become a Jewelry Designer

Small business entrepreneurs have confidence in themselves. Confidence in yourself is your power or your control panel to your jewelry business success. Belief in you is the critical key to maintain a small business.

Speaking from experience, you need to be emotionally ready to take the first step into becoming an entrepreneur. If you are not emotionally strong or you have doubts then you are not ready.

No one person or test can tell you when you are ready. Just like love; you will know. But whether to ask the marriage question or to answer yes to a marriage proposal you need to be ready for the commitment and a willingness to live life together with its many ups and downs.

In a sense you will marry your small business just as you marry your mate. Both situations need to be ready to work and grow together. When you love what you do or you love the one you are with, it will be a professional or a personal successful lifestyle.

Here is a list of questions that may help you to decide if you are a small business entrepreneur:

Do you have a lot of ideas for new products or improving products?

Do you find yourself changing jobs often?

Do you learn quickly and are bored with many of your jobs?

  1. Do you have coping problems following job orders or being corrected on the job?
  2. Are you more comfortable being a leader than a follower?
  3. Do you feel that you are being held back from advancing in your job?
  4. Are you truly doing the workload of three people, yet being paid as one?
  5. Are you very knowledgeable of your subject?
  6. Are you very unhappy on the job and wish you were doing what you love to do?
  7. Do you fantasize seeing yourself being self-employed or owning your own business?
  8. Do you know and feel that you are smarter than your boss?

You may wish to consider becoming a jewelry designer as many entrepreneurs are creative and are excellent at developing new products with their jewelry designing abilities. The creativity within you will keep your abilities challenged and your work will never be boring.

You will be able to advance yourself as a jewelry designer much quicker in your own business than depending on management promotion with a standard company or corporation. Small business jewelry designers are happy doing their chosen work. The benefits of being a jewelry designer is beauty, joy, and fun.

If you are interested in becoming a jewelry designer visit the home page of Tricia Deed at http://www.Infotrish.vpweb.com/ and review “The A-Z Steps to Becoming a Jewelry Designer”.

3 Habits of a Successful Business Entrepreneur

The habits of successful business owners are a topic worthy of much discussion. Have you often wondered why some company heads earn significantly more than other successful business chiefs?

In this article, we will discuss 3 habits most highly successful business entrepreneurs employ on a daily basis.

1. Learn your business

One of the key elements present in the character of prosperous business heads is expertise. They are extremely knowledgeable about their business. While they may not do everything themselves, they know exactly what needs to be done in each component of their enterprise. This is essential because your employees will know that they can’t present you with inferior work and expect your satisfaction. If you are a new business entrepreneur, learn from reading books about your industry, going to seminars, and other business owners in your field.

2. Staff your shortcomings

As a small business owner, it is imperative that you staff your weaknesses. It is OK to be weak in certain areas. The danger arises when those weak parts of our business are left alone. These areas must be handled by someone. Employing individuals who are strong where we are not is a great way to deal with our inferiority. It is when we work together as a team that our businesses succeed and we can become a successful business entrepreneur in our own right.

3. Keep track of your marketing to become a successful business entrepreneur

Smart business owners will always know which marketing pieces are producing the best results. Knowing how much money your marketing is producing for your company is crucial. If a specific campaign is unproductive, you must be prepared to replace it or simply stop it entirely. If you are spending more on marketing than you are making in profits, your business will not be around for long.

To sum things up, the habits of small business owners who are successful are very similar. If you imitate the 3 characteristics above, you will begin to develop these character traits in your own life. You can be the next successful business owner in the nation by following the methods of others.