1.You Have to Build Rapport with YouThe oxford dictionary defines rapport as “A close and harmonious relationship in which there is common understanding.” To succeed not only in home based business, but in any aspect of life, you need to establish a harmonious relationship with yourself.While this topic is the foundation towards the pursuit of getting the best home based business for you, it is possible to write a number of books on this topic. Generally 95% people in the world are not in any sort of rapport with themselves. I have seen countless number of people robbing themselves of their spirit due to the lack of building rapport with themselves.Have you ever seen someone amongst your friends as a power source, illuminating every room they enter? Did you notice some one with a charismatic personality? I love Tom Cruise as on screen I notice how brilliant rapport this man has with himself!If you are already in good rapport with yourself, congratulations to you. If not, it’s never too late. Start today. Although it’s a long journey, I can guarantee you will thoroughly enjoy every step of this journey.2. Know What You Are Really Good AtAlthough it may be a rude awakening, I am confident you will agree with me on this point that if some one does not know what they are best at, how can they expect to find out the best in others?In order to figure out your strengths, I want to remind you to one observation that I noticed that often rather then chess players, the spectators can speculate the best movements more readily. Can you apply the same technique to find out the best in yourself?While you are thinking how you are going to achieve this, how much money is it going to cost, I will show you a way to figure out this valuable insight and at the same time you will achieve tremendous popularity among your loved ones. This is how you are going to do it.–Ask your mom what you were good at doing as a baby or as a kid? You were the most attractive thing on the universe to her, and I can guarantee no one has observed you more closely than her. My lovely wife once cooked me a food that I did not know about. I asked her, what is that? Her reply was, just have it honey, you will love it.” And I loved it; in fact it was the best tasting food in my life.When I asked her how she cooked it, she and mom laughed. The secret recipe was prepared based on my moms experience on what tastes do I like, it brought me into tears.–Take your partner out for a candle light dinner. Look at her eyes, and ask her softly, I need to find out the best in myself, and being my best half, I need your help. In the next half an hour can you please note the things I do really well?–Invite all your friends and relatives to a party. Ask them to do the same.–Individually write cards to your long missed friends and relatives, living far-away from you. Ask them the same question.Get ready to have the most pleasant and happy memories of your life. You will know yourself much better. This exercise has the power to change your life and make it so much fuller and richer!3. Prepare a Self InventoryAt this point; it is time to look at another side of you. Take a piece of paper, and write down your strengths. If you cannot think of anything, then you are over thinking. Just let the pen move.And then take a look at your weaknesses. Generally you will find the weaknesses list a lot longer than the strength list. Now I am going to tell you to do the exact opposite as most of the self development programs tell you, and that is,You already have the action plan for your home based business. You carry out the tasks that you are strong at doing; delegate the tasks that you are weak at to someone else.4. Know Your Goals in Home Based BusinessAs you have done the previous exercises, you have made the ground ready for the richest harvest of your life. Its time to plant the seeds. I ask the following set of questions to myself, and you may find it beneficial as well:–What is my main reason for coming to home based business?–Do I want to do home based business as part time or full time?–How much time can I give on my home based business?–Am I comfortable in taking risk or I collapse easily?–How much money do I need to make in the first year? Is it realistic and at the same time good enough to sustain my lifestyle?5. Take ActionIts harvest time. By all means for extraordinary results, think outside the box. Join your local home based business association. If there is not one, start one home business club. Remember the famous English proverb: “A smooth sea never made a skilled mariner.”Make a list of five potential great home businesses that suits you well. Prepare a financial forecast. Look if there are any franchises in that sector? After this critical thinking, you already have the best home based business for you.Before I bid good bye, I will summarize the key to finding the best home business for you by being in tune with George Bernard Shaw (1856-1950):”You see things; and you say “Why?” But I dream things that never were; and I say “Why not?”
Capital for a Home Based Business
Raising capital for a home based business is a difficult process. This is primarily due to the fact that most home based businesses are not qualified for small business administration loans. The SBA wants to see that jobs are being created with the capital that they are providing to small businesses. As such, if you are seeking debt capital for your home based business then you are generally going to need a conventional business loan, a personal loan, or a working capital line of credit. Most importantly, if you decide to go down this funding road then you are going to need to make sure that you have the appropriate collateral and credit score in place so that you are able to effectively receive the capital that you need to launch operations. As it pertains to collateral, you can expect that a bank is going to want to see that you have a substantial amount of equity in your home, retirement accounts, and vehicles. In a way, you can consider any debt obligation that you undertake to be a personal loan.One of the other ways that you can raise capital for your home based business is to use a working capital line of credit that is secured by any inventory that you are purchasing. This will ensure that you are able to acquire the goods that you need while also being able to focus your remaining financing on marketing efforts. This is especially true if you are launching an online based business that is based out of your home. An alternative to this is that if you accept credit cards via a merchant terminal then you can receive a lump sum loan based on your monthly receivables. However, this is an extremely expensive method of financing a new business. As such, you should focus on using your own savings or obtaining a standard line of credit rather than going down this road.Finally, you can always work with friends and family as it relates to obtaining the capital that you need. However, working with friends and family in order to start a home based business comes with a number of complications. Mainly, if the business does not do well or fails then these individuals will either lose their investment or you will be required to pay them back with a business that is not producing any income.In closing, you should decide which methodology is best for your in regards to raising capital for your home based business. Each type of financing scenario has its pluses and cons.
A Guide on Successful Product Creation and Internet Marketing
Product creation in Internet marketing is getting stiffer and stiffer nowadays owing to tough competition between Internet-based businesses. Putting up a new product requires plenty of brainpower and finances along with an ability to take risk. With that, even if you have the product well-set already, you have to position it strategically in the Internet landscape for others to notice. You should get the interest of Web users and turn them to actual customers. Aside from the usual physical products, many different products that thrive well on Internet marketing include E-books, membership sites, and video lectures.
The long and difficult process of product creation begins with ideas. They are easy to get – compared to the effort that comes with analyzing the market for that idea. Before the idea turns to a product, businesses often spend money, even amounting to millions of dollars, to ensure the success of the new product that emerges from an idea. Businesses undertake many types of market research and surveys before releasing their products to the public. Now, you may think that because your business is small, you can’t afford research or you don’t have to do research; you can and you should. The Internet allows you to disseminate materials needed for your market study to many people at once without your having to spend a cent.
It is a common maxim in business: Look at your destination first before mapping out your journey. So what are the goals you intend to accomplish with your product creation ventures? The everyday travails of your business may make you forget the end in sight. On the other hand, prepare to entertain new developments that come to your mind in your product creation. Your conception of a product may have started this way, but a few tweaks here and there along with some market research results and it ends up another way. Take it as the result of a creative process, not as a failure to reach your goal. After all, your product creation activities are intertwined with a long-term goal that you should strive to sustain at your utmost: profit generation. So if your less profitable initial idea evolves to a more profitable product, be thankful!
With your product made up already, start doing some aggressive Internet marketing. A product purchase typically comes after more than five times a customer is exposed to an informative call-to-buy message. Thus it is important to get the contact details, like the e-mail address, of potential customers who are on the brink of a sale. Use the results of your market research to determine the demographics to which you should concentrate your marketing efforts.
With consistent product creation, you can make an inventory of your products that you can market in due time. Just keep making products – the moment you succeed in making and marketing a product, customers are surely wanting more from you, so give it to them. Keep them on your side through constant product creation.