Fundamentals of a Successful Home Business Entrepreneur!

Many people will start a home business this month, and most will fail. They love the romantic idea of working from home, spending time with there families and being financially independent but 97% will not fulfill there dreams. Here I give you the Fundamentals of a successful home business entrepreneur, to ensure your success.

The Right Mind-Set

This is the first and most critical factor in becoming a successful home business entrepreneur. Most people will fail because of the lack of this one important key. You have to adopt the right mind-set when starting a business opportunity. This should be one of absolute surety, that this home business is a great opportunity for you to live the life you want. You must believe in the company and the products, and you must know without a doubt, that you can a successful home business entrepreneur.

Research

You must do your due diligence when researching an opportunity. With all the hype on the internet today, this issue is even more critical than ever before. Make sure that the company, market a product that is relevant to today’s society. They should also provide you with ample training on how to market their products and have a good compensation plan.

Persistence

Ask any successful home business entrepreneur and they will tell you that one of the key to their success is persistence. Even when they were frustrated, they still persevered because it is in these instances that you learn the skills that are necessary for success in this industry.

Take Consistent Action

There is nothing out there that can replace this all important step. You must develop a daily method of operation in which you constantly do your income producing activities every day, in order to become a successful home business entrepreneur. Consistently taking action will allow you to develop the skills necessary to become a leader and thus increasing your marketability and income levels.

Commitment

There are no true get rich quick opportunities on the internet. To be a successful home business entrepreneur, you must plan for the long term, and this will take commitment on your part. You have to be committed to your plans and your daily method of operation. You must be committed to learning all that you must, so make sure that you are on all of the training calls and you are constantly plugging into the system, which brings me to my final point.

Goal Setting

It is often said that if you fail to plan, you plan to fail it is as simple as that so goal setting is a must. This will help you to visualize your dreams thus attracting the things that you want, into your life. It is important to set short term goals of three to six months, medium term goals of six to twelve months and long term goals of one to three years and as is often said, “if you reach for the sky, you will land amongst the stars.”

One Fact Home Business Entrepreneurs Can’t Afford To Miss

Home business entrepreneurs will naturally be exercising their problem solving skills more than the average person. It just comes with the territory.

Problem solving is one thing – but identifying the primary log-jams of your business that are keeping you from achieving significant breakthroughs and higher levels of success are another world altogether.

These logjams are known as ‘constraints’. Home business entrepreneurs need to understand that constraints are an aspect of their business that has been severely limiting growth.

Naturally there are lots of potential ‘parts’ of you business that could be the source of your primary constraint.

  • The product or service itself (Example: A well known maker of Brandy was losing market share to a competitor with an inferior product simply because their bottle and label were sub-standard)
  • Conflicts between the tactics you’re using VS. a strategy suitable for market. (Example: People new to MLM are told to build their business by marketing to their family and friends instead of learning to find & attract the people who actually want what their selling).
  • Making the mistake of focusing primarily on working ‘in’ you business rather than ‘on’ your business. (working on your business allows you to develop the systems so other people can do the work while you focus on building the business.) McDonalds got where they are due to their systems.

Business entrepreneurs need to consistently be ‘on the hunt’ for the current aspect of their business that is under the greatest constraint.

This is essential because these logjams exist at every level of a businesses growth.

Like life itself, a business is either growing or its dying. In order to continue to expand your business (or even to ‘maintain’ an existing position) clearing these log jams are a top priority and responsibility for business owners.

Unfortunately; the most important element of success in business success (and the biggest constraint by far), is also almost always the one that home business owners shun the most: Marketing & Sales.

This can not be emphasized strongly enough: Without a ‘sale’ nothing else happens.

No matter how good your product/service is, if people aren’t aware it is available or how it is substantially better than what they are using, you will fail.

Those words may upset some readers but I’m a no B.S. kind of person and we all need to face reality – and the sooner the better…

The good news, which is just as unknown to home business owners; is that ‘sales’ is actually a lot of fun once you learn to attract the people who are already motivated to purchase what you’re offering.

If you’re a smart home business entrepreneur you started your business because you found a product/service that you love.

That’s great, but that does not mean that everyone else in the world is going to share your interest in that product let alone love it the way you do.

Time and again I’ve seen new home business people trying to convince a prospect about their product’s merits without recognizing they might as well be talking to a brick wall.

Pitching your product to the wrong prospect is by far the most prevalent mistake I see new home business entrepreneurs making. The consequences are often serious:

  • The whole experience is very stressful and emotionally draining for both the prospect (especially if it’s a family member or friend) as well as yourself.
  • The resistance generated from ‘wrong prospects’ is substantial and can make a new entrepreneur second guess themselves – or their product (which can kill a new business in nothing flat).
  • The time wasted on ‘wrong prospects’ means you weren’t with the prospect that wants/needs your product (i.e. – no sale).

Constraints are a fact of business that is constant. They are either suppressing a business or (once cleared), are opening whole new opportunities for expansion. Learn to face this critical fact and to embrace the opportunities they present.

Home business entrepreneurs are the new lifeblood of America’s economic recovery and learning to consistently address constraints will be a major key to their success.

How To Develop The Winner Home Business Entrepreneur’s Profile

When you want to be a winner and operate a successful home business, there are several things that you need. You don’t need millions of dollars to invest or a large home office. No, the things that really matter are things that you can control, for free. These things are characteristics that you can develop in order to fulfill your dreams and make a real difference in your life.

Passion

The first thing any home business entrepreneur needs is passion about their business. If you don’t have passion for what you are doing, you can bet it won’t be as successful as you want it to be. People with passion work harder and are more focused on goals than those who could care less about what they are doing. Passion is something that costs nothing and can be mustered up with the right attitude.

Action

The second thing you need to do to be a winner is to take action. You can sit at home and think about fantastic ideas all day. But if you never take action and motivate yourself to make things happen, nothing will ever happen for you and your home business. Successful home business entrepreneurs make things happen by their actions.

Attitude

Did you ever hear that attitude is everything? Growing up you likely heard that from your parents, teachers, and coaches. As an adult, the same principle is true. Your attitude can make or break you in the world of business. There are many examples. If you have a bad attitude, you will not be a success because no one will want to work with you and no one will buy from you. If you have a good attitude, on the other hand, then people will love working with you and will buy from you!

Faith

The last thing you need to develop a winning home business entrepreneur’s profile is to have faith. Many people can create ideas and winning marketing plans. However, they lack the faith and determination to actually believe their ideas are successful ideas. If you don’t believe in yourself, no one else will believe in you either. So, you have to keep the faith in your ideas, yourself, and your business. When you can have that faith that things will work out, then they usually will!

If you can find a way to develop these traits, you will be a success in your home business. Sure, these traits can be more difficult to find than money, for some people. But, they can be the difference between your home business being a success and it being a failure. So take the time to find out how to gain these characteristics. However, if you look inside yourself, you will likely find that you already possess them!