Running a successful home based business can be challenging because as entrepreneurs we are constantly pushing the boundaries and breaking barriers.
But there are at least three key challenges that you will encounter as a home based business entrepreneur and in this article you will discover the best home based business success secrets that can fit.
The option of building a successful business out of your home can make "work" seem far less disheartening, matching convenience and controlled comfort with much less overhead.
Plus the added bonus is that the income potential is much higher as a business owner and you will not be trading time for a wage but instead creating leverage in your life and home based business. You can drive your kids to school in the morning and wake up at the time you want. And if you are thinking that running a home based business is too solitary, be sure to realize that home based business does not mean homebound.
In fact, you will find that many home based business companies do very well without any kind of retail office space, because they don't depend on traffic off the street, but rather spreading their message out into the world for new customers to enjoy. So let's dive in to what it takes to thrive with a home based business even during the recession while everyone else is crying in their soup.
Here are the three most daunting challenges and how to overcome them:
1- Lack of Focus: This is by far the biggest problem I see among novice home based business owners. See as entrepreneurs we naturally have a sort of "Shiny Object Syndrome" where we get easily distracted by time-sucking projects that often do not contribute to the bottom line. It's imperative that you focus primarily on high-value activities that contribute to the businesses bottom line. One way to maintain higher control over this is by using a timer to work, and do pre-determined activities in 33 minute blocks. Then take 5-10 minutes break and resume with another 33 minute block of focused work. This strategy demands focus on high value activities and allows for time to rest and regenerate.
2- Mindset Shift: Many times as entrepreneurs we suffer from the shiny object syndrome referenced earlier and this can cause both a victim and consumer mindset. Both of these mindsets erode your ability to run a successful home based business because they are destructive. As a successful entrepreneur you will adopt a mindset of make it happen or else and focus your efforts on activities that add to the bottom line. Adopt a mindset of a marketer and business owner as if you had invested $100,000 into your home based business, rather than buying each and every offer that pops up in your inbox.
3- The Right Formula: The last challenge in this article is having the right formula to success. Now, understanding the numbers of your business is very important because in order to reach your income projections you have to understand how many leads and sales it will take you each month and each week. Understanding the numbers is crucial in determining how to adjust over the course of the weeks and months of the year. Also, my advice in finding the right formula is to be selling something that can make big commissions so that it requires far less sales to hit your targets. This Top Tier model has allowed me to effectively double my existing online business just by adding one model.
Now, I hope you will do what is necessary to create a successful home based business because I guarantee that it's worth it in the long run.
