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    What Makes Your Home Business Succeed?
    A few weeks ago I have written about the “Key Factors of a successful home business”. A lady has reacted to this article and she has mentioned some important aspects, e.g. “Is the product a category creator?” I want dwell on this question. What could “category creator” mean?

    From the Creative Idea…

    A category creator can be interpreted as a new, creative business idea. It has to be something new that is unique. The marketing science knows the term of “Unique Selling Proposition”. It’s different from other offers on the market. Even a product of the everydays life can be reformulated and market in an unparalled way.

    …To the Innovation Management

    Peter F. Drucker, the grand old man of the management science, has created the term of innovation management. He has passed away recently and it is appropiate to honor him. He has written that a new idea or a new product is only an innovation, if it succeeds on the market.

    The home business industry grows daily. Thousands of people start a new home business every day. Many among them join already existing business fields. Many newcomers begin with an already made turn-key website and try to promote it. Thousands of online home businesses are abandoned because they have not satisfied their owners.

    New ideas are needed. The online home business world has seen a lot of trends. Online business malls have been sold. Niche Marketing has been promoted. Now we see a “get-paid-to” wave. “Get paid to surf” and “get paid to read” websites are mushrooming. New varities of this kind of website appear and they are called “get paid to play games” or “it pays to learn”. Internet entrepreneurs try to make money by launching and promoting new kind of sites that attract masses of customers.

    How To Get to the Top?

    The radio news has reported recently about a successful website. This website has achieved the top listing at the Google Search Engine. It has got a mass of traffic, customers and sales. What are the website owners doing? They just offer a subscription for socks. People can subscribe for a steady and regular supply of new socks. A common product is market successfully in a new way that meets many people’s need.

    The Time Has To Be Ripe

    A lucky timing of the launching of a new product or service is also necessery. The time has to be ripe for the new business idea. If this is the case, a product sells itselfs.


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    persistance and determination are very important too!


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    Interesting articles


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    A Great System+ A Great Guru
    I think the only way to be successful is to model success.


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    Reflecting on Business Plans
    The other thing that i have seen which helps business owners, once operations are up and running is to go back and look at the original business plan. That is where the elements of success were originally designed. Especially if the business has somehow lost sight of it's original objectives


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    Creating your own business plan, your own service or product, etc, that's all great. However, why risk so much for the same expected income that you can get from an already established company, with an already established product/service, and an already established market?

    I am talking about direct sales. Even if you started a McDonald's, the average income of a McDonald's owner is only $50,000 - $60,000 per year after paying everything there is to pay to run the business.

    Being self-employed doesn't mean you are a true business owner. For example, someone who has a pet grooming business out of their garage. They simply own their own job, unless they hire someone to do the work. There is no much difference between this kind of "business" and working 9-5. It's still better, but not much better. You're maxing out your hours in exchange for money.

    What makes you a true business owner is your ability to create leverage. If you hire 100 people and you pay them $20 per hour, and they all produce you $5 more per hour than you pay them, then you're making $500 per hour that you're not putting time and effort into (for the most part), but you're using other people's time to create that income.

    The key to succeeding in a home-based business (direct sales) really comes down to three main aspects: 1. Prospecting clients/customers. 2. Closing of the sale. 3. The time to do the above.

    That's it. Master those three things and you will make money.

    Yet most people don't succeed at a home-based business because they can't do one or more of the three things. But there are ways to automate the activity loop.

    I personally have made $6,000 this month from home and I've only invested a couple of hours. I expect to make $6,000 more before the month is over.

    If you can create leverage then you will become someone who owns a system in place that will continue to generate income for you regardless of how much time and effort you put into it once the system is built.

    That's how you get to the Forbes Wealthiest 400. Not by owning a business that owns and runs you.

    Think about it.

    Leo


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    Clear understanding of your customers' needs
    If you don't clearly understand what do you customers REALLY need, you will fail.

    I have seen it number of times in software industry: software developers get inspired by an idea... code it... then get zero sales.

    Customers' needs are what matters, not your or your business metrics.

    Marketing research + planning are 90% of the battle.

    As one of the famous people said: "Plans are wortheless, however planning is invaluable"


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    Hi,

    Another big factor is having a business doing something you LOVE. If you LOVE it, a lot of the rest can fall into place better than if you had been more competent but less passionate or not in love.


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    Things to look for...
    As an NWM consultant, owner and teacher for the last eight years, these are most of the things I look for in a business:
    1. Company stability - how long in business, check the web for the amount of negativity, financial stability (I like privately held debt free!)
    2. Leadership - Owners that are not only known in the company circles but industry wide as well.
    3. Professionalism and competentcy - I want a company who chooses direct marketing as vehicle to promote their products and not a network marketing company who chooses a product to sell!
    4. Support and training and systems - how well done are their materials and websites, training and processes? Are they updated and current? Are they professional and in good taste?
    5. Products - I look for products people use habitually and pay unconciously - and I want the company to own and deliver those products. There is too much competition to be a reseller. I also want a product(s) that is exciting to the consumer.
    6. Timing - Most of the serious money in direct marketing is made by the people who are in when the demand for a particular product is building toward critical mass - lots of people talking about it.
    7. Upline/leader skill and willingness to help - this is crucial to a new person as these people can make your business happen so much faster.
    8. Pay plan - I look for simple pay that provides decent up front money for building your business and an easily understable residual income based on customer gathering and product sales.

    These are the factual type things to look for. One more that does come to mind is passion. Can you yourself get excited and passionate about the products? If not don't get involved. Most people will join you in a business not neccesarily because of the product - it is because of you!

    Be smart and you can find a company that will allow you to own a people franchise with an incredible chance to change you and your families lives for generations!


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    You have been given some excellent advice thus far. I would just like to add - be consistant and treat your business like a true business. It's easy to slack off if you are "at home" so set up office hours and a routine and STICK TO IT.

    I ask myself - If an employer was to rate my job performance how would I do?


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