How To Be The Cream of The Crop!

How To Be In The Top 10%

Success is the Name of The Game in Your Home Business

According to Bloomberg, 8 out of 10 entrepreneurs fail in their new business start-up within the first 18 months. OUCH!   That is an 80% failure rate!

90% of Small Businesses Fail – Don’t Be One Of Them!!

In addition, although statistics are hard to come by, it is reported that nearly 90% of SMALL businesses fail.  Before you get depressed and look for a happier post to read, let me quickly show you how you can avoid a couple of the most common fatal mistakes!

If you are a small business owner, don’t you agree that  it would be very valuable indeed to know the reasons for these failures and learn how to become proactive in avoiding common mistakes and pitfalls?  No sense in reinventing the wheel!!

Let’s dig into this a bit to increase your chances to succeed.

My specialty is success for home business owners, so in this blog post I’m going to unravel a couple of the pitfalls common to this industry and offer some easy-to-follow steps that you can use to avoid “the pit”!

While lack of capital is the #1 reason most small businesses fail, with home businesses, the #1 reason seems to be a lack of customers for your products or services.  Typically, in a regular small business venture, there is a large outlay of cash needed before any money starts coming in.  Things like rent and inventory, advertising and supplies – these are the things that “break the bank” and make success difficult.

Lack of Customer Base for Your Home Business….

In home business ventures, there isn’t nearly as much outlay of cash needed to get started.  This is exactly why it is such an interesting and attractive option for many folks.  As you know, you can get started in many home businesses on a shoestring budget.

But even without the need for a lot of cash, there will undoubtedly be some expenses and if you don’t start bringing in some income in the first few months, it is very easy to just give up and quit.

It can be difficult to maintain your enthusiasm if you are in a negative cash flow situation for too long.  In addition, it can be stressful for your home life and relationships.  Frequently a spouse or partner isn’t as excited about your new venture as you are and if they don’t see any financial results for a while, they may put pressure on you to spend your time doing something more lucrative!

To Avoid This Pitfall in Your Home Business…

To avoid this pitfall, rather than depending solely on your friends, family and acquaintances to be your customers, it is essential that you have an eye to the larger picture.

Depending on your product or service, you need to think about who your primary customers should be.  In my case, since I help home business owners succeed, my primary customers tend to be struggling or new home business owners.

If you happen to be in the anti-aging niche for example, who would your primary customers be?  Probably people who have either bought anti-aging products or visited websites that sell or promote anti-aging products or services.

If you want to reach a much larger market for your customer base, it is essential that you look to the internet and start marketing yourself and your products online.

Marketing on the internet can be a scary thing and you may be saying to yourself that there is no way you are going to be able to do that..you don’t know how and you don’t have thousands of dollars to hire a webmaster to design a website.

Well – I didn’t know how either for the first few home businesses I enthusiastically started earlier in my life.   But after failing miserably at several great business opportunities, I decided if I really wanted to be successful as an entrepreneur, I HAD TO learn how to market online.  The internet – specifically social media – is simply the Way of The Future!!

Promise Yourself You Will Have Success With Your Home Business!

There are great training tools and products available to help you learn how to promote yourself and your business online.  You just need to make the following promise to yourself:

  1. I am going to succeed no matter what
  2. I will absolutely NOT give up, and
  3. I am willing to invest some time and maybe a little money in myself to learn what I need to know to succeed

If you promise yourself those three things, you will be well on your way to being one of the elite and successful 10% – just those three things!!

Not Enough Time?

I wrote a blog called “Burning The Midnight Oil” about great strategies to help prioritize your time when you are starting a home-based business and you are struggling to balance your life, your other obligations and your new business activities.  I hope you will get some great ideas from reading that blog!  You also need to know exactly what the true meaning of success is to you!!  It will be different from one person to another.

How To Maintain a Positive Attitude?

After deciding to never give up and agreeing to invest in yourself to learn what you need to know, your attitude is your next most important asset.   Do you need a “check-up from the neck-up?”  The state of your attitude can be your greatest ally or your worst enemy.   And do you know what is the worst thing about attitude?  It is totally up to you!  There are great books that you should absolutely read – over and over.  Books like “Discovering the Power of Positive Thinking” by Norman Vincent Peale and “Think and Grow Rich” by Napoleon Hill.  One of my favorites is “The Slight Edge” by Jeff Olson.  These books are available online at Amazon or any number of other outlets and they are not expensive.  They are FOR SURE READ ME books!!  Spend at least 15-20 minutes every day reading some motivational material.  The results will be incredible!

In addition, you should post famous success quotes in the places you spend a good deal of time.   Those will help keep you motivated.  Other examples of  keys to success in life are to write out what you believe to be your personal 10 keys to success and your personal goals.

To summarize, grow your customer base by marketing yourself and your business online.  Promise yourself that you will never give up, you will be determined to succeed no matter what and you will invest in yourself to learn what you need to learn.   This is how you will become one of the 10% elite!

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To Your Success!

 

 

 

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    1 Comment

    • online success

      Reply Reply May 8, 2015

      Fabulous, what a blog it is! This web site presents helpful facts to
      us, keep it up.

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