Generally, successful people in whatever areas of life have one thing in common; they are hungry for success and will not settle for anything less.  They will not take “NO” for an answer, will not settle for the ordinary,  will not let other people dictate their lives and they move past obstacles and excel. If you want to succeed you have to be willing to work hard and be persistent.  Successful home business owners are no different.   It is said that the only place success comes before work is in the dictionary.

successful home business

In this day and age and especially in our Jamaican economy it is almost impossible to maintain a decent standard of living on one paycheck.  Finding a second job is not very easy and so this is where creativity comes into play.  A second job outside of the home is also not a good idea for the family, it means spending more hours away from home which could lead to a break down in family life. This is where the idea of a Home Based Business becomes interesting and could work in your advantage.

Home Based Businesses are great and can be extremely profitable but without the proper knowledge and tools, you can waste an incredible amount of time and/or money which defeats the purpose you started out with, namely to make money and have time to do the things you want to do. This article was written to give the average person like you and I a practical guideline to getting started in a successful home business the right way, and to save you wasted time and money.

What Does Success Mean to You?

successful home business

Success means different things to different people – Do you define success as having a lot of money? Or do you define success as being able to live your life the way you want too?  Either way, you are correct.

Being successful can mean many things. My definition of being successful is making a steady income from which I can effectively take care of my family, do the things I want to do whenever I want to do it and to make a difference in the lives of people around me.  I want to be an inspiration to others and be able to share the knowledge I have acquired on how to improve my life.

Success does not mean to look better than the people around you. I believe it comes from within and how you perceive yourself and your life. Success is something that you do not have to show on a daily basis. Success is how you live your life.

5 Questions to Ask Yourself Before Starting Your Home Business

Working from home and owning a successful home business is the ultimate for some people.  How does being your own boss, not having to leave home for work, being able to choose the working hours freely and to be able to plan the work-day entirely on your own feels?

If you are considering starting your own home based business, then you could start with thinking it through, by asking yourself these questions:

1.      How many hours each day can I commit to my home business? Can I work early in the morning or late at nights? (bear in mind you cannot quit your current job until your home business is in a position to take care of you and your family)

2.     Do I have a suitable room or place in my home for my home business? Can I work uninterrupted?

3.     How much energy and determination am I willing to put into my business for it to succeed?

4.     Do I know how to market my home business?

5.     How do I plan to finance the start-up of my business? How much money is needed?

This is a few questions to start with,  that’s very good to have the answers to, before starting up your own home-based business. It would make your upstart smoother and safer, to have some answers for yourself, about the home business of yours to be.

5 Tips For A Successful Home Business.

Risk Taking:

You have to possess the willingness to be bold and to push forward. People who refuse to take risks are definitely going to lose. You can’t be afraid of rejection, just take it as part of life and you’ll find there’s nothing to be afraid of.   “No” is just another opportunity to find a way around an obstacle and to use creative problem-solving skills.

Time Management:

Time is precious – As they say in the business world, time is money.   Time lost cannot be regained so you have to spend it wisely.  You can’t waste time as if it will always be around, you could miss a fortune of a lifetime by wasting just a few minutes.

Proper time management is essential as you climb the ladder of success. Continue to break goals down into manageable chunks.  Do that in relation to your day and the time you’ve been given. You’ll accomplish far more this way and you won’t regret using your time wisely.

Master Non-Verbal Communication:

It is said that our body language and facial expressions do much more communicating than our words will ever do. When the words that you speak don’t match the expressions on your face or the stance of your body, you confuse the listener.

Don’t try to do too much at once—your willingness to do this tells people they aren’t important, even if you’re expressing your appreciation of their work and effort.

Be aware of what message your body is sending off!

It must have minimal start-up cost:

A home-based business that has a high start-up cost will take longer to see a profit, and as we said earlier, time is one of the things we are trying to cut down on. Minimal cost will also make the home-based business more assessable to a larger amount of families or individuals who are just starting out.

It must be easy to set up and maintain.

The more complicated your home business project, no matter what it is, the more likely you are to give up out of sheer frustration before you see a profit. A business that is easy to set up and maintain will give you confidence and a sense of accomplishment as you complete each simple step in the process.

This is about freeing you to spend time with your family and doing the things you love, not creating another taskmaster to replace your job!

The business that you choose to start should definitely be something that interests you and possibly even something that you already have some experience in doing.  Do not make the mistake of overcomplicating your efforts or you will see very quickly that you will get bogged down with a lot of needlessly wasted time and effort.

Additional Guidelines to Follow

Now that you have carefully thought about the business you want to undertake from home and you have set the right foundation you should be well on your way.   Just a quick note, as with all business patience is a virtue don’t be too anxious to start making money.

Here are some things that can retard your home business:

  • Full-time jobs
  • family obligations
  • maintaining health
  • and too many other distractions

You can end up feeling like a failure so you have to pay special attention to these issues.

However, I have some good news! You can find and maximize time to build momentum for a successful home business. All you need is to find the time and commit to using that time for your home business only. Try the following strategies to make your home based business success.

Document Your Daily Routine

The first thing you will need to do is create a schedule. Document the time you have available each day and how you will spend it to build your business.  After completing this exercise you should have a good idea of what your work week looks like.

Stick with the Schedule 

The next thing you need to do is stick with your schedule. This can be tough because you are creating a new habit.  Once you get the hang of your new routine, you should always re-evaluate your schedule. You may be able to find more time to spend on your home business.

Sticking with your schedule means you need to discipline yourself to work. This means that you have to find a way after work, after little league games, after dinner and after putting the kids to bed.

Don’t Forget Your Family

Spending time with my family is always a top priority for me. If you have to use your family time to spend on your business, make sure you communicate with your family so they have an expectation of what you are doing. However, I would recommend that you set a time limit so you can spend that time you want with your family. This will provide balance for you.

Embrace Distractions

As we all know life also throws us off schedule. Try your best to embrace that fact instead of fighting it.  Try not to focus on what you could be doing.

If you have to stay late at your day job, then choose to work late. Usually, you’ll find that it is better just to focus on one thing at a time. You’ll be more efficient and effective. Having a clear and guilt-free mind while working on your business is most productive.

So there is good news when it comes to finding time to work on your own business. Don’t despair and don’t get frustrated. Just remember that you have total control of your time and you alone can change your habits to build your businesses momentum.

Some Low-Cost High-Profit Businesses You Can Start Right Away

After all that, you might be wondering what is it that I can start doing at home.  The possibilities are endless but you have to narrow them down to affordability, skills and the availability of knowledge. If you are willing to take on a new challenge there should be no problem.

There are two types of people in the world. Those who see the glass half empty and those who see it half full.

Here are some low-cost high-profit businesses

1. Internet Marketing

Do you have a computer and access to the internet in your home? If so you could be sitting on a gold mine. People use the internet to do all types of things. From a multi-million dollar sales business to a young teen who created his empire teaching people how to play music by ear. Every day people are getting on the internet and pursuing their own dot com lifestyle.

2. Teleseminars

If you are not a very technical person one of the best strategies is teleseminars. With simply a telephone and a conference call line for your guest to call in on you can offer a class or seminar. You can either use it as a lead generator or you can sell your product or service from the seminar itself. An additional product can come from recording the class. Once you record the class it can become an instant product you can create passive income from.

3.  Affiliate Marketing

What if someone else did most of the work but you got to share in the profit pie? Well, that is what affiliate marketing is all about. There are thousands of products ranging from digital downloads, books, seminars not to mention hard products like computers, cell phones and other techie stuff. Your job is to find the products that your market is interested in and when you sell something you get a percentage of the sale. You can do this without having any inventory or the overhead of a traditional business.

4.   Network Marketing/MLM

I have always been a fan of network marketing because the business model is as much about self-development as it is building a business. The premise is you find a company that you are passionate about the product, has a proven system and strong team leadership. Most of these companies are the low cost of entry.  You then build your empire leveraging the efforts of many.

Some people incorrectly believe you are going to get rich off the back of someone else. Not true. The very core of network marketing is built on the fact that you get paid in direct proportion of your ability to recruit, train, inspire, support and lead a voluntary group of people. For those who can do this the rewards are great.

5.     Freelancing

Freelancing is basically a different way to work. Rather than being employed by a company in one specific job, freelancers are self-employed and find work via a variety of sources. Clients hire a freelancer to complete a task, project, or service for them.

So whatever area your expertise lies in you can find jobs/projects online to undertake.   People and companies are always looking for people to assist them.

So are you looking for a business you can start without breaking the bank? The above five businesses are just a few ideas to jump-start your thought process. However, make no mistake you can start a low-cost high-profit business and enjoy it while lounging in your pyjamas.

Categories: entrepreneurs

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