Learning to Become a Home Business Entrepreneur

In my previous blog I mentioned what personal traits are required to consider starting a home based business opportunity i.e. to be an entrepreneur. But what about skills and knowledge, what do entrepreneurs learn and where do they learn it? Maybe if I describe my day, it might shed some light on the matter.

Today I had a noon appointment at a Starbucks located in a Chapters book store. My good friend Brian called yesterday to make the appointment. Brian likes to meet because he looks to network with like minded individuals. As I wrote in a previous article, entrepreneurs, network marketers and the likes, pay particular attention to what they feed their minds and the thoughts they entertain. Accordingly, they will also surround themselves with people that have empowering mindsets so they can maintain theirs and also give it an opportunity to expand.

Brian and I shared views on personal development strategies, what we have found to be beneficial, what we are currently taking part in as well as what we contemplate doing next. Whether the topic was on multiple streams of income or the resources we can invest in to develop ourselves, our thought processes were focused on empowerment rather than the constant negative topics provided by mainstream medias. Politics, sports or economics did not enter our topics of discussion although they are often what people talk about when they go for coffee.

After a pastry and our caffeine fix (nobody’s perfect) we proceeded to replenish our personal development library by browsing the business, network marketing and self help section of the book store. We made our purchases and went on our way with a satisfied tummy and a fed mind.

If you are a home business opportunity seeker, I’m sure you will appreciate the prospect of designing your own schedule to have the freedom of making appointments such as the one I enjoyed today, however do keep in mind that entrepreneurial life style always takes into account a steady feed of personal growth which is at the basis of business development.

So what do entrepreneurs do for learning the skills and knowledge they need for personal and business growth? They choose what they feed their minds and choose who they network with to promote empowering thought processes. If you’re not too sure what to feed your mind, have a look at our resources page or the self help and business section of your favorite book store to see if anything resonates with you.

So let me ask you this: the next time you go for coffee, who is it going to be with, what will you talk about or… what book are you going to bring? Do let me know!

Online Business Plan – Lesson 1 for Online Business Entrepreneurs

Starting up an online business is very easy to do: all you need is a domain name, hosting, a webdesign or a WordPress blog, an autoresponder and some cash for advertising.

The topic or niche you choose depends on your passion that you would like to share with the world. As soon as you chose your niche for your online business, you need to decide which one of the many available business models – and there are as many models around as Internet & Affiliate Marketers you would like to use.

This initial challenge will keep you busy for quite some time – I even dare to say that your first 6 to 9 months will belong to this first phase of your online business plan. And you have to consider this learning phase in your plan.

The next phase will be to focus on creating good and valuable content. Content is everything you leave on the Internet. It ranges from blog posts to tweets, shares, articles and products. During your second phase you should endeavor to find your own little spot within your chosen niche. Just imagine that you should develop yourself into the Go-To-Guy (or Girl) for 1 particular question within your topic.

The third phase will actually be already part of running your online business. So your Business Plan for your online adventure is divided into 3 parts:

  1. Choose niche and initial set up plus learning the rules of Internet Marketing
  2. Create good and valuable content and share it around
  3. find your final place within your Niche and establish yourself as the Go-To-Person.

In contrast to Business Plans for brick-and-mortar businesses, the plan for your online business is slightly different. You don’t have to define your 5 year strategy, don’t define your business processes and all the human-, technical- and product development resources you will need.

You could define all this right from the start but I dare say that this procedure would be a complete overkill for your online business idea and robbed you right away of your motivation that you will need for your first 6 to 9 months.

Instead of writing a ‘commonly known’ business plan for your online business, choose to focus on planning your marketing campaigns: Return on Investments and Break-Even Calculations are your focal points of interest while running your Online Business.

Planning your Online Journey this way allows you to stay flexible to different ways of doing business online, but creates a stable management tool to secure your financial success.

3 Tips To Strengthen Your Entrepreneur Development

If you are new to having a home based business then you will of course have thoughts about how you are progressing: Positive, negative, or indifferent. Even the most optimistic people have set backs in their progress but the difference is they bounce back and not let it affect their outcomes.

As a successful entrepreneur you must steer your clients/customers in a positive direction. If you have a positive mindset then you can better help your clients with their problems and lead them to success too. All of this can be done by the following three tricks:

1) Be prepared for negativity

A lot of the time people do not know they have a negative mindset but simple statements such as ‘I can’t succeed’ ‘I don’t know how to blog’ ‘I have no help’ are all negative thoughts. With all the information on the Internet today there are plenty of resources where you can find information.

Learn to embrace and leverage information for your success. Change ‘I don’t’ or ‘I can’t’ with ‘I will’ and ‘I can learn to… ‘

Learn from positive people and model their success. If you are empowered to succeed you can help others to succeed too.

2) Complete the tasks you are supposed to complete

Having a list of things to do is always helpful in making you feel you have accomplished something no matter how small the task is.

If you can see small changes it will encourage you to complete the other tasks you are meant to do and this is the only way you will see success. Have your end goal in mind but make sure to take it step by step – you will get there.

Add positivity to the end of your sentence. Instead of just saying ‘I have 3 more tasks to do’ say something like ‘I have 3 more tasks to do but by the end of the day I will have my blog set up and things set up in place to make my business succeed.’

The more clear the image of success is in your head, the more you are likely to achieve it.

3) Take the time to redefine yourself

A lot of people who are new to starting a home based business or looking to start a home based business have problems redefining themselves.

You have to have a whole new mindset and outlook in order to succeed. When I first started in the home based business industry I thought all of this was airy fairy and didn’t matter. But I WAS WRONG.

It is important to have the right mindset.

Nothing is permanent so you must read and learn from others who are achieving the success that you want in your life and business. You must never be the smartest person in the room – always learn from others and their experiences and mistakes.

Believe it or not, there is a lot of power in positive thinking.

Sales Tips For The Home Based Business Entrepreneur

Sales are the life-blood of every business. Without regular sales we don’t have a business. We may as well go and work for a boss. “Aaaggghhh. Never again”, I hear you say.

Keeping yourself up to date with modern sales tips and techniques is vital in the 21st century. Most of those tired and worn out sales strategies of the 80’s and 90’s will no longer cut it in this fast paced world. However, some things remain unchanged.

If you are looking to grow your business… and if you are not, then you are going backwards… you need to generate ongoing sales.

There are only two ways to get more sales:-

1. Sales from new customers

2. More sales from existing customers

Clearly, you must tailor your marketing and lead generation strategies to meet the different priorities of prospects and existing customers. Once you have engaged with a new prospect, it is essential to have a sales process that focuses on generating trust and building a relationship. The sales process for existing customers needs to be a little different, leveraging the existing relationship and focused on a better understanding of the customer’s situation and future needs and wants.

Furthermore, different processes are needed for face-to-face situations and web-based interactions. Attracting new customers via the web requires a “give before you get” attitude that builds trust and develops a relationship over a period of time. A very significant proportion of businesses spend most, if not all of their time and money trying to attract new customers. In focusing everything on “new business”, they pay little or no attention to their existing customers. Are you one of them?

It costs between 5 and 10 times as much to gain a new customer as it does to grow an existing one. Existing customers continually “disappear” if they are not looked after. Indifference (not price, not quality, not competitors) is the most commonly quoted reason given by customers, for changing supplier/service provider. Furthermore, if you fail to take care of your existing ‘A’ and ‘B’ class customers, you are denying yourself the most cost-effective, high quality source of new customers – referrals.

Successful businesses are systemised businesses. These “systemised businesses” identify, design, document and implement effective systems to ensure consistent, high quality engagement with their markets, prospects and customers. They understand the importance of relating to and understanding their customer base. They stay in touch with their ‘A’ and ‘B’ class customers and treat them like gold.

The ‘C’ class customers (you know the ones I mean… the complainers and tyre kickers) can be let go. They will only cost you money in the long run.