The answer is determination. We all can say that we want to live the lifestyle, but it is these people who have proven they are determined to live it because they are as you are reading this. Don’t worry; not too long after reading this, you will be well on your way to owning your own home-based business.
Today 85% of people in the U.S. hate their jobs, and 95% of people want to own their own businesses. However, 70% of businesses fail in the first three years. A successful owner is a good consumer, compares prices, and buys at the lowest prices.
There are many reasons that people do not open their own businesses. The first is fear. You must control it, or it will control you. To do this, put a face on fear. What is it, and is it really a reason not to open your own home-based business?
The second of the main reasons is the opinions of other people. People stop us because they love us and don’t want to see us get hurt or don’t want us to be more successful than them.
If you are really determined, read on and decide that you will start your own home-based business today. I am not suggesting that you quit your job yet and go full time at home, though if you follow the proper steps, this will be the inevitable. The first thing to do is to decide what kind of home-based business you want to start. You should find a growth industry or product that is recession-proof, that has low overhead, that is a convenience that creates necessity, that has broad appeal, that is not available in retail stores, that produces an exciting, emotional response, that is easy to use, that is consumable, that is priced competitively, that has a money-back guarantee, and whose timing in the market is good.
One of the easiest ways to have a successful home-based business is to model a successful home-based business. Look for a market that already exists and know the margins; they must be at least four to one. Market the solution immediately and easily. Solve a problem rather than prevent one because people will always pay more for the solution than the prevention. If you want proof, talk to someone who has gotten cancer from cigarette smoking. You don’t need to find anything new. Just do it better and remember there is always a market for the best.
So you found your product-now what? In your spare time, get an additional phone line with voicemail and caller ID and an 800 number. Build a website, get incorporated with a tax ID number, think of a business name, print up some business cards, and you are good to go.
I am going to suggest selling information on the Internet. First, I will address reasons to sell something on the Internet as opposed to a product.
The first reason to sell something on the Internet is the convenience and timing of the transactions. With improved and affordable web technology and e-commerce solutions, people can shop from the convenience of their own homes 24/7. An Internet business is easy and quick to start and readily accessible instantly. You will save money and make money easily because an Internet business is the least expensive to start, operate, and market. There is hardly any overhead, and there are lots of tax breaks. (To find out more about the tax breaks for home-based businesses, check out my article “Hey, Uncle Sam, I Run a Successful Business from My House.”)
Web traffic is doubling every 100 days, so there are more prospective customers out there for your products and information. Today more than half a billion people are online, and that number is growing every day. $30 trillion dollars will be exchanged on the Internet this decade; do you want a piece of that?
Now that you agree you should have a business on the Internet, allow me to share with you more about why selling information on the Internet is your best choice:
- There are minimal production costs. Once you have the words on file, if you bought them or they are your intellectual property, that is all of your cost of production.
- There is minimal production time. Once an order is in, a copy-and-paste is all that is in order before you send a file.
- There are no inventory concerns because everything is on file in your computer, and there is instant delivery to a global market with automated 24/7 sales and distribution.
- There are minimal marketing costs because the majority of your marketing is done over the Internet.
- Ongoing revenue streams can be built into the product by continually marketing to your customer, and you can promote yourself as an industry expert. You can also promote your offline business to the world on your website for free.
- Best of all, the value of your content is determined by the information, not the production cost. This can lead to a pretty profit.
For now, I look forward to seeing you enjoying life the way it was meant to be enjoyed...by your rules. Just remember that if your home-based business is going to succeed, the word is determination.
About the Author
Louis Lautman is a business consultant, life coach, and peak-performance expert. He is the president of International Sales University, a sales-training company based in Miami, FL. He runs extraordinary public and private seminars to create breakthroughs and transform people’s lives. Louis can be contacted at 813-380-7467 or louis@internationalsalesu.com. Check out his website at www.internationalsalesu.com.
