Save your money.? Running a home-based business will require that you have some amount of working capital to get started.? A home-based business typically requires a nominal fee to get started ($100 to $1,000); however, you will have other expenses such as: website fees, business cards, marketing materials, professional development, which you must be prepared for.
Having money saved, will not only come in handy for your business expenses but it will help in those initial months when you are working to make your home-based business profitable.? ?To save money, spend less than you earn and always pay yourself first.
Get to work.? A few years ago, after being asked to attend a presentation by a friend, I decided to join a direct selling company. I was intrigued with the fact that direct sales also known as network marketing; would allow me to forgo the 40 year retirement plan for a 10 year plan. I didn?t want to work for 40 years, 40 hours a week and then retire on 40% of my income. Rather, I could see myself devoting 10 years to building a home-based business earning residual income, where I?m not only paid on my efforts but the efforts of everyone in my organization.
Initially, I got off to a slow start. Three months after I started my business, I still hadn?t made any progress. I allowed life, work, family, friends and excuses to get in the way of my building my home-based business. Until I realized, success comes to those who work for it. If you want to have a successful home-based business, you have to get to work. Make a plan of how many hours each week you will devote to building your business, the tasks you will perform each week and stick to it.
Enjoy the process.? It is often said that ?Success is a journey, not a destination.?? Success comes after hours, days, weeks, months and for some people years of hard work. The path to success maybe challenging, frustrating and plagued with numerous failures.? So if you don?t enjoy the process, the end result won?t make the journey worth it or your desires may never materialize because you will give up.
In order to enjoy the process, you must first pick something that you are passionate about.? Secondly, learn to accept that everything that happens throughout your life is meant to add value to you.
Build a business for the long-term. Don?t be surprised if after 30 days of working to build your home-based business you are not generating 50 leads a day and don?t have 50 customers.? You must be willing and committed to investing your time and energy for the long-term.
This past week, I attended a webinar, hosted by Eric Worre. Eric has made millions of dollars in the network marketing industry and he shared his thoughts on the benefits of building a business for the long-term, based on his 20-plus years of experience.
- After 1 year of having a home-based business you should become confident and profitable.
- After 3 years of having a home-based business you should be able to replace your current income.
- After 5 years of having a home-based business you should have doubled or tripled your previous income.
- After 7 years of having a home-based business you should have total financial and time freedom.
If you are a parent, looking to start a home-based business to spend more time with your family or if you are an entrepreneur looking to start a home-based business because it has less risk than a traditional business, my goal is to help you increase your chances of success by following these four tips.
ABOUT THE AUTHOR:??Yaisa Hagood is a network marketing leader and home-based business entrepreneur. She is the founder of Asiay Development, Inc., a consulting firm that helps people generate multiple streams of income from home. Yaisa has also been an Adjunct Faculty member for the University of Phoenix where she taught undergraduate marketing and communication courses. A single-mom living with Lupus and Kidney disease, Yaisa that is on a mission to educate and empower others. To learn strategies to explode your home-based business, check out Yaisa?s Training For Network Marketers Blog.
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