Starting A Home Business
The dream that many people have is to be able to start their very own home business. It is something that people endeavor to do each and every year, by the thousands. Unfortunately, most people that start one are not able to actually make it work. They have high hopes, invest thousands of dollars, but in the end, for some reason, it doesn’t work out the way that it should. In most cases, people go into a business that they know nothing about. They are uncertain about how to run the business, how to market it, and inevitably end up failing and feeling miserable for their efforts. In this article, we will present a couple different business models that have actually been shown to work that you might want to try out.
One of the easiest ways to start a home business is to start one on the Internet. The Internet is relatively new, especially in comparison to all of the business models that have been presented over the last several decades. In most cases, people have to have a brick-and-mortar store and provide products for people that stop by. This usually involves quite a bit of investment on the part of the business owner in regard to stocking their shelves, paying for employees, insurance, workman’s comp, and all of the other related expenditures that are typically involved. But with Internet Marketing, you really don’t have that much to pay for. It usually involves getting a domain name, web hosting, and email service, and creating or marketing a product for people to buy. In most cases, products can be delivered instantly, alleviating even the need for shipping and taxes.
Another great business model is network marketing. This is because it involves building a business that is essentially made up of people purchasing the same products every month that you buy as well. Most of these products are staple products, things that you need to have each and every month. Since this is the case, there is no extra expenditures on your part other than marketing materials and traveling expenses usually involved with visiting others and getting them to join in the business. The larger your downline, the more money you will make. Best of all, your efforts are not limited to your own. Those that join under you will also want to build their business. And as they build their business, your business, and your monthly revenue, will slowly begin to increase.
By focusing upon these two business models, you can avoid all of the usual start up fees involved with a traditional business model. Without having to pay for the overhead for a regular business, you will have more capital to spend on building your online or network marketing business, which means more money in your pocket, and the potential of building a profitable business in a much easier fashion. Hopefully, one of these two ideas will motivate you to try to start your very own home business today. I think you agree with me that having a successful business is what most young people dream about. Independency, freedom of choice, and financial well-being are just a few things a successful startup can give you.
Many startups fail not because their ideas are not good enough, but because they have the wrong approach towards the whole thing. It is impossible to say how to start up with your idea and become successful right away. However, there are some practical tips that will help for sure.
Here are the 11 crucial tactics for #starting a business:
1. Don’t be afraid to fail
Starting up your own business, you should be ready to fail. Small failures can give you priceless experience. In your failures, you can find a success recipe for your next undertaking.
Here are a couple of bright examples; simply think about them. PayPal was the fifth business try of Max Levchin. Angry Birds is the fifty second try and the first big success of Rovio Company. Impressive, isn’t it?
You cannot learn to ride a bike only reading about it. You need to pedal, to fall a couple of times, to feel how it works and only then you can confidently ride it. And when you ride along a bad road in terrible weather, you can then overcome any obstacles in the future. Startups are also like that. You fail and learn your lessons the hard way only to get up and to achieve success.
“Failure isn’t fatal, but failure to change might be” – John Wooden
2. Make sure you and your investors are on the same page
Money is an important part of a start up campaign, but be careful with it and pick the right source. As your investors will be shareholders in your company, you will practically be “married” to them. That is why it is better if you like your investors. Check if you share similar ideas and attitude towards your startup. If you have any doubts, better look for someone else.
3. Don’t try to make it alone
Most of the startups created by one person fail. You need to have a strong team of co-founders. Don’t start a project if you don’t have a good designer, marketing specialist, developer and techies. Try not to see these people as your employees, treat them as your co-founders and partners and they will be more driven to make the project successful.
4. Don’t worry if you cannot afford an office
Not every startup gets big investments the moment they think of a business idea. You have to create a plan and develop your idea into something bigger first. At this point, all you may have is this idea, some like-minded people and some money to implement this idea.
Don’t worry if you cannot allow a big fancy office for your startup. Numerous successful businesses started their lives in the houses or garages of their creators. Among them are Apple, Amazon, Microsoft, Disney, Google, Nike and many other business giants.
5. Always get yourself and your partners motivated
Motivation is what makes people create great things. Find something that makes you motivated and constantly think about it. It can be anything starting from a deep desire to see your product helping people and finishing with a simple wish to become rich.
And never forget to motivate your team. If you cannot motivate them financially yet, use other tactics. Always remind them of your goals, arrange different creative brainstorming sessions and simply hang out together and talk about all the great things you will accomplish.
6. Don’t focus on the race
On a competitive market, it is easy to focus on the race with your competitors trying not to yield to them. Do your own thing and put the energy into the things that seem important to you. Maybe your ideas will change all the rules and your competitors will then have to play your way.
Of course you have to know what your competitors do, but instead of trying to be more like them, focus on your target audience and find out what it values the most. Then try to give it to people. If you don’t, someone else will.
7. Mistakes are your best teachers
As Mark Suster says in his article on entrepreneurship, the main quality of a successful startup “is the ability to spot your mistakes, correct quickly and not repeat the mistakes”. Of course, it is very cool if you’ve witnessed some other entrepreneurs’ mistakes and learnt their lesson, but usually it is your own mistakes that teach you best.
8. Freelancers and outsourcers are your good friends
Let’s say you have a great idea but you live far away from like-minded people. Or the programmers or designers who are ready to work with you are not bright enough to create a successful project. In these or other similar situations, you have a great option of finding talented people and doing some business magic with them distantly.
With all the technology we have now, you can easily make it work. Of course there can be some issues, but every team has problems whether they work in one building or in different parts of the world. Before hiring someone from far away, though, you need to get tips for working with freelancers. For example, you need to make sure you can rely on these people and you can contact them any time you need it.
9. Don’t let routine kill your enthusiasm
Many startups begin their project full of energy and enthusiasm. However, when they encounter routine tasks and some difficulties, many of them give up and abandon the whole thing. Starting your project, you need to be ready for routine and for problems. Don’t forget to focus on your goals and to keep following your ideas and your dreams.
10. Don’t procrastinate
Startups are all about the speed. If you don’t realize your ideas fast, someone else just might do it before you. Procrastinating is unacceptable in a startup. You need to constantly move forward and not get distracted by dull things that stop you from progressing.
“Only put off until tomorrow what you are willing to die having left undone” &8211; Pablo Picasso
11. Deal with your personal issues
Your life and your work are inevitably connected. If there are too many personal problems in your life, it would be difficult to focus on your project and to give it 100% of your dedication. So, a successful start up demands you to deal with your troubles, to let go of all the things that hold you down and to feel happy about your life. Only then will you be able to create something truly great.
Hopefully this small business startup guide can help at least some of you to start working to make your ideas a reality. If you have a killer idea and you think all the basic things through, no one can stop you on your way to success.