Qualifying For Success As A Home Based Business Entrepreneur

Entrepreneurial success is gained through the accomplishment of mission and objectives. Success and failure are tied directly to the entrepreneur’s reason for being in business, that is, their mission and objectives. Success requires being both effective and efficient.

With clearly stated mission and objective and producing the intended resulted, the entrepreneur is termed as being effective. Efficiency describes the relationship between the resources used and the extent to which objectives were accomplished.

The effective and efficient entrepreneur uses three basic management skills to accomplish the mission and objective of the business.

Technical Skills: the ability to use tools, techniques, and specialized knowledge to carry out a method, process or procedure. A typical example for us online marketers is the use of the autoresponder, imagine emailing thousands of prospects without such tool.

Human skill: used to build positive interpersonal relationship, solve human problems and build acceptance of one’s customers. Even though the autoresponder is such a great tool for communicating with one’s prospects, the human factor cannot be absent. The successful home based business entrepreneur knows that in order to gain the trust and loyalty of the prospect, personal communication has to be present.

Conceptual Skills: careful thoughts are taken about how decisions will affect the business overall and are made to benefit the entire business. Analytical, creative and intuitive talents are conceptual skills that an entrepreneur must develop.

Integrating these three management skills and continuously improving them will work wonders for the home based business entrepreneur as the business progresses. 

How Home-Based Business Entrepreneurs Think

Too many people are trying to start their home businesses with an ordinary employee’s way of thinking. This has become a common reason why not long after sitting down and giving it a fair look into even the most lucrative business opportunity they bump into, they put it away and decide not to take any chances.

What has happened here is that the most lucrative business opportunity has been looked into by an ordinary 9-to-5-worker, who appears NOT to be business-minded.

If you are like most people, you have probably considered starting your own business yourself. But above all, you have to understand that to make into a successful Business Entrepreneur, one has to change their way of thinking first.

1. DO NOT EXPECT FAST CASH!

Besides gambling or winning a lottery, working as an employee is the only way to get ‘fast’ cash… ‘fast’ as in ‘in-25-working-days’. This kind of cash is always certain to come in as long as you work from 9 to 5 for your boss. But as you probably already know it, as soon as you stop, the money stops. (See FinancialFreedomAwaits.com).

True entrepreneurship-minded people know that it takes time to develop an ‘attack plan’ for their businesses. It takes time to build a strong and solid business, which delivers ongoing income through many years.

True Business Entrepreneurs hold on to this truth, “We reap what we sow, but the harvest is never in the same season as the planting.”

Change your way of thinking:

DO NOT EXPECT FAST CASH!

2. AIM FOR JOB SECURITY OR FINANCIAL SECURITY?
Employees would rather have job-security. Why? Simple: the income is secure. As long as you loyally work from 9 to 5, you will for certain get your cash! The problem with a typical job is that when you stop, the money stops.

The stark fact is: one day you might get sick and won’t be able to go back to work. Sooner or later you will retire. Companies get broke and have to release their employees. No matter what the situation, as soon as you stop working, the money will stop coming.

So much for secure income…!

A job with secure income is necessary for those who has not set up their own business yet. True. But a true Business Entrepreneur won’t settle merely for job-security. He aims for much more, such as financial security. No, he won’t have fast cash. And no, he won’t have any secure income yet – at least not in the beginning. And often, he won’t have any income at all from his new business for the first few months.

Business entrepreneurs think of the big picture. What they do is building assets from which his money will come in month after month, year after year from work he is doing now! The money will not come now. It might not even come for the next few months. But as soon as his business is up and running, it will keep generating income for him, even when he chooses to stop working!

And THAT is financial security!

Change your way of thinking:

THINK OF THE BIG PICTURE: AIM FOR FINANCIAL SECURITY!

3. GENERATE PASSIVE INCOME

Financial freedom is not measured by how much money you earn by working, but how much money comes in with only little or no work at all. This later kind of income is called passive income. This fact has been known for decades by real wealthy people.

Successful and wealthy entrepreneurs do only little work and sometimes it is even possible to do the work only once but still generate recurring income on it. Imagine a song or a book writer. They write their songs or books once but get paid forever on it. This do-it-once-get-paid-forever type of income is called residual income.

Most people who have attained financial freedom have other people working to generate income for them. Earning money by other people’s effort is called leveraged income.

As hard as it may seem, to create leveraged income, you need to have your own business where other people work to generate income for you. Any business. Whether it is a traditional business, franchise, small business, internet based or home based.

Employees work to generate secure income. Business Entrepreneurs work to build assets with income streams which generates for him ongoing passive income (either residual or leverage income or both). In other words Business Entrepreneurs work to build himself -what I would call- a ‘money-machine’ which is designed to generate ongoing income.

Whereas the Employee can not stop working because otherwise he will lose his income, the Business Entrepreneur will have money coming in constantly, even when he chooses not to work, simply because it is his assets that generate residual and leverage income for him.

Change your way of thinking:
TAP INTO PASSIVE INCOME BY GENERATING RESIDUAL & LEVERAGED INCOME!

4. INVESTMENTS

It is common for people who seek job security to hesitate to invest. The reason is understandable: for some of us the risks of investing in a business are just too much to handle.

A true Business Entrepreneur understands that in order to build -what I would call- a ‘money-machine’, investments are necessary. There is just no such things as businesses without investments. He knows that it takes time and effort to develop a successful business. But he also knows that investing money is just as important!

Sometimes it takes the Business Entrepreneur a year or two before he can finally reap the big success. Sometimes even a bit more. It takes a couple of years of investing time, effort and money. But this is not too hard for him to handle. A true Entrepreneur thinks long term. He knows that in the end, his working and money investing will finally pay off!

A Home Based Business Entrepreneur would only have to invest just 5-10 hours a week for a couple of years and he would only have to make low budget investments into his home based business. And at the end of the time of working and investing, our Entrepreneur would have turned it into a significant amount of residual income stream!

I’m not talking about money that comes in today and is gone tomorrow but income that keeps coming in month after month, year after year… money that -as Gery Carson has put it- “when you’ve left this planet continues to provide for your spouse, children, or grandchildren.”

By then you would think that all your valuable time and money you have spent would be worth it.

Commonly an ordinary employee, who fears too much to invest, works hard to receive his pay check every month. Most likely he even retires broke. Before he knows it, he leaves the planet with nothing to leave for his family.

A true Business Entrepreneur is prepared to invest. He knows by investing in his business he is building assets that would generate passive and residual income for him throughout his years on this planet and the years of his grandchildren.

Change your way of thinking: THINK LONG TERM: START INVESTING!

5 TIPS for Home-Based Business Entrepreneurs

Have you ever heard that only a small part (5%) of ‘all’ Home-Based Business entrepreneurs achieve success?

Do an online research on your favorite Search Engine
and you will understand what I mean.

In this article I’m going to show you the KEY to Home-Based
Business entrepreneurs success; you’ll find out what makes an
entrepreneur successful in the home-based business field.

Below are 5 TIPS for Home-Based Business Entrepreneurs:

1. It’s their mindset that brings success

Serious entrepreneurs have ‘programmed’ their mind to succeed no matter what. They don’t lack focus on their home-based
business and let nobody stop their plans in achieving what
they want.

They know what they want and they have the DESIRE to succeed. If you don’t know exactly what you want when it comes your
home-based business, think about it again and re-consider your
plans, what you want to achieve, a get-rick-quick or a
profitable, long term business.

2. It’s their start-up plan that brings success

Smart entrepreneurs know that it takes time to set-up and grow a profitable home-based business. They plan to succeed. They
have a start-up plan that might fail but they never give up and
start again with a better plan.

Serious entrepreneurs know that it takes discipline and
time to build a strong and solid home-based business, which delivers ongoing income through many years to come.

3. It’s their initial RESEARCH that brings success

Smart and serious entrepreneurs know the importance
of market research. They know that in order, for a home-based business to succeed, they have to research their target market (their potential customers) and study their competitors.

Research your target market and study your competitors
in order to have a long-term, profitable home-based business.

Know what your customers want and give it to them.
Keep an eye on your competitors, study their offer(s)
and make sure you come up with a better deal than
them.

4. It’s their marketing strategy that brings success

Study each successful entrepreneur in your marketing
field and you’ll notice how they market online / offline.

Each of them have their own ‘unique’ marketing strategy
but they use the same basic principles.

Don’t re-invent the wheel. Use the main marketing concepts
that are proven to work but try to improve and adjust them
to your own situation. Make them work for your home-based business. Make your offer better and unique than your competitors if you want to WIN in this business, or simply quit (I know that’s no what you really want!)

5. It’s their investment that brings success

Smart entrepreneurs know that the KEY is to work SMART, not hard. If you don’t have the required skills to develop a NEW marketing tactic for your home-based business why not hire a consultant who knows his stuff?

If you have ‘enough’ money why not invest in someone who can help you grow your home-based business and give me something to work at too?

What is more valuable to you, your time or your money?

A serious entrepreneur is ready to invest (both time and money). He knows that he will build a long-term successful business for him and the one he loves (friends, family, children, etc.)

The final (or first?) STEP you need to take in order to succeed
is to act (take ACTION!). Yes, put into practice what I have
told you above (the 5 TIPS for Home-Based Business
Entrepreneurs) and you’ll succeed, no matter what. Trust me!

Youth Business Entrepreneurs – Useful Tips

Who is a Youth Entrepreneur?

A youth business entrepreneur is a passionate industrialist, who produces certain selected products and distributes them to consumers to make a handsome profit.

Youth entrepreneurs are usually more energetic to take part in all the commercial activities of their entrepreneurship. They work hard to establish themselves from a very young age in the commercial sector.

The legitimate acceptable age for youth business entrepreneurs to start any commerce is 16. The ideal time for youth entrepreneurs to undergo business training is during their academic term, when they are pursuing a degree or diploma.

Health of young enterprisers has to be stable since, business activities are demanding and can have a bad effect on the health. They are also required to work for longer hours, to achieve the set objectives of the day.

Youth entrepreneurs need to supervise almost all the business activities, and hence they have to be accessible at any time. They also need to prepare themselves to work and conclude the task effectively and successfully.

Important Factors:

Entrepreneurs have to take lot of risks, if they wish to grow and establish themselves in the market. For this, it is important that youth business entrepreneurs prepare themselves mentally to take tough trade decisions.

To start with, entrepreneurs can examine the administration and technical support system of a couple of small business development centers and participate in special management programs. Several universities, colleges, and business schools around the globe conduct venture capital forums, youth business programs, and entrepreneurship seminars.

With the assistance from several collegiate entrepreneur associations, youth business entrepreneurs can educate themselves on myriad topics. Such associations, notify, encourage, and support youth’s business ideas to mold them into successful capitalists of tomorrow.

Further, they can also extend their commercial talent by surfing the internet. They can browse several sites devoted to tips and tricks related to youth entrepreneurships, to educate both the business and mind. Some sites also entail inspirational stories of victorious young entrepreneurs to inspire upcoming youths.

Youth entrepreneurs can hone their skills for executing the business by undergoing training for manufacturing the goods, marketing, packaging, and managing good customer rapport

Youth entrepreneurs need to march beyond the boundaries to achieve huge success in their industrial venture. Therefore, it is essential for them to gain knowledge through reading, experimenting, studying, and observing.

Youth Entrepreneurs Program:

Youth entrepreneurs program motivates young people to initiate their own full-time businesses and pursue self-employment as a career option. Such program accepts applications all through the year from youth aging between 18-29 years.

Young entrepreneurs under this program are eligible to meet a grant of up to $4000 to aid in paying their business start-up costs and capital expenses.

Youths interested in such a program are required to submit a complete program application and a business plan.

The young entrepreneurs program offers grant to repay approved applicants, for suitable business startup costs and capital investments. The grant depends upon the capability of the applicant.