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Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Monday, December 3, 2012

Conquering the Challenges

Anyone looking at me today would think that starting a home-based or online business is a walk in the proverbial park.  That wasn't the case.  There were many challenges along the way.  And if you are just getting started, I'm sure you are experiencing many of the same issues.

1.  Support.  The biggest challenge I had when starting out was getting people to take me seriously.  I don't mean prospective customers or clients.  I mean family and friends.  It's difficult to start a business without some support from those around you.  Support like a spouse who will walk the dogs so you can work, or a friend who will pick the kids up from school while you meet with a client.  But it is often difficult to have any credibility with those who know you best - especially if you have no prior business experience.  It took me quite a while to convince my family that I was serious about this and to show them I could be successful.  But as time went by and I didn't give up and as I slowly started actually earning an income, the belief - and the support - came.  Unfortunately, there isn't much you can do to overcome this obstacle except be persistent, be patient, share your successes, and have faith.

2.  Time.  Like me, many of you are starting your businesses part time while still working your regular job.  And if you have a family as well, then finding time to actually build your business can be challenging.  Too many will simply take time from other things like sleep or family to devote to your business.  But you can't do this forever and eventually it will take its toll and something will suffer - your health, your relationships, or the business you are trying to build.  Don't try to steal time for your business.  Simply vow to do one thing every day to move your business forward.  On days when you don't have much time, it can be a small task like reading about your niche, or placing an ad.  On days when you have more time to spare, tackle the larger tasks.  But make sure you do at least one thing EVERY day.

3.  Space.  Depending on the type of business you start, you could require some space to run it.  At the very least you will probably need some sort of office space.  The good news is that with today's technology, almost anyplace can be an office.  When I first started, I worked from a little computer desk in a corner of our bedroom.  Then we built an addition on our house and I had a loft area to use as an office.  But today, with my laptop and smartphone,  I often find I am working in my car, or the local Starbucks, or in the living room while my husband watches television.  The products I sell are mostly digital and those that aren't are shipped directly from the manufacturer so there is no space needed for inventory or storage.

4.  Knowledge.  I spent the bulk of my career as a Navy cryptologist and Russian linguist.  So when it came time to start a business of my own, I didn't exactly have a lot of experience or knowledge.  I could send email and knew my way around the internet somewhat but that was about it. 
Fortunately, there are plenty of books, classes, and online resources where you can gain the knowledge you need.  I recommend many of them in this blog and at BoomerBizCoach Recommends.

5.  Tools and Equipment.  No matter what niche you choose for your business, you will need some resources.  My business is almost exclusively online, so all I really need is a computer.  And although I resisted forever, I would now be lost without my smartphone.  Fortunately, an adequate computer can be had relatively inexpensively these days.  If you are continuing to work while you start your business, put some money aside each payday to help cover the costs of purchasing what you need until you start earning income from your business.  Or you may be able to rent what you need or borrow from friends and family.  Don't let necessities (like bills) go so you can put the money towards your business.  And don't think you have to have the top of the line gadgets while you are getting started.      

Wednesday, April 9, 2008

Have You Checked Your Alignment Lately?

It's Wednesday and I've accomplished absolutely nothing this week. I just can't seem to get motivated. I guess it's time to check my alignment once again.

What's that? Check my alignment? Why whatever do you mean?

Let me explain. About eight years ago, I was in the same situation. I had lost all motivation. I just couldn't find the excitement and the passion for my work that I'd had in the past. I actually dreaded having to go to work each day. Then I read an amazing article. It said that just as your car will squeak and make unpleasant sounds when it is not in alignment, so too will your soul when your business tasks are not in alignment with your vision, mission and values.

Before investing more time and efforts to take your business or organization to a fascinating new level, you must re-evaluate first what your primary values are, how you prioritize them inside you, and, see if your business activities support and are in alignment with the priority of your values.

For example, eight years ago my father, who had Alzheimer's, moved in with me. At the time, I used to travel quite a bit to speak to specific groups of people to market the business for the company I worked for. To be successful and get promoted, I needed to travel and speak and network more frequently. There were lots of late nights and long weeks and too many weekends when I was not at home.

But, family life is on the very top of my priority list, in a place higher than business or career success. So, whenever my work required that I travel for an extensive amount of time, my inner self experienced a misalignment. I still went ahead and did what my “head” told me I was supposed to do, but my heart was centered to my values. When the head pulls the whole body to do what it dictates it to do, the heart starts to send out signals to you that if you don’t make adjustments, you will not stay in wholesome health any longer. The heart sends out signals by decreasing your enthusiasm, motivation and self-esteem. You start seeing yourself get down more easily, you feel lonely, not understood and you feel that you get angry easily or you get blamed for shutting your emotions. And that is exactly what happened. Whereas I once enjoyed traveling and meeting with our clients, now I simply wanted to get the trip over with so I could get home. I started making excuses to cut trips short or to send someone else. And when I had to go I was sick and depressed most of the time. I did not give clients the attention they had come to expect. I knew I had to do something or instead of getting that promotion, I would be looking for a different job!

In the article, it said that one of the easiest ways to figure out what your values are and in what priority they are in is to make a “Desire List.” Ask yourself , “What do you want?” Then, begin to jot down your list of answers. Don’t judge yourself for your wants. You need to create a safe and open environment for yourself so that your true self gets uncovered. Don’t be ashamed to say, “I want to own a house by the lake with an amazing view to the mountains and a dock for launching your very own boat.” Or, “I want to be the most influential leader and the expert of experts of my field.” Or, “I want to be a famous dancer!” Just let things flow. Let the same question come at you for 10 to 15 minutes. You may start getting bored of the same question, but you may start seeing what is hiding under those wants. Your initial “wants” are really saying, “I want to be recognized.” “I want to be trusted and respected.” “I wanted to be loved by my family members.’ “I want to be understood and loved for the real me.” “I want to make a difference in this world.”

Your wants and desires express your values.

Take your top 5 values and complete the following questions to get an inner alignment:
1. What are you doing on a daily basis to support these values?
2. What are you doing on a daily basis that does not support these values or that are in conflict with these values?
3. How can you modify your business life so that you support your most important values? How can you eliminate or start eliminating business activities that are in conflict with your values? If these business activities are important to the growth of your business, what else is out there for you to consider for the replacement of such activities. Take the example above; ask yourself if you can find out ways to market the same audience through the phone, internet and other ways? Hold a teleseminar? For me, the answer was fairly simple - and terribly scary! I decided to quit my job and start a business that I could run from home at least part time.

If you are a busy business owner or organizational leader, you will have many activities and to-do’s everyday. Form the habit to run your business tasks through these results-proven questions and get your alignment checked periodically. It's the best way to keep yourself headed for success. So, if you'll excuse me, I'm off to Starbucks for a lube job with a Grande White Chocolate Mocha and an alignment. Once I get myself straightened out, I'll run much more efficiently!

Saturday, March 15, 2008

Failure or Success?

There are three main reasons why home based businesses fail:
1. Poor planning
2. Poor marketing
3. Poor management

According to a report I read recently, over 90% of all network marketers, affiliate marketers or other work-at-home business people quit within the first year. Then they proceed to go out and tell everyone they know that you can't make money with a home business. It drives me crazy when I think how many people could have been successful with just a little planning, training, and time management.

If you think you have the idea for the next great business, or you've found the perfect MLM, or an excellent affiliate program - GREAT! Now, before you do anything else, write your plan. If your business is already somewhat established such as a network marketing, MLM, or affiliate program, much of that is already done for you. But you still need to plan how you are going to build YOUR team or downline or customer base or opt-in list. If you are actually looking a starting your own unique business then get a business plan template (most banks will give you one for free) and write your business plan.

82% of businesses fail due to poor cash flow or by starting out with too little money. Make sure you look at the money involved in starting your business. Many network marketing and MLM opportunities say they cost little or nothing to join. That may be true. They neglect to tell you that you have to spend hundreds of dollars each month to purchase products in order to make any money. Don't be like a friend of mine who joined a MLM company and quit her job two days later because she was going to make a fortune! Needless to say, she is back at work, in debt, and very bitter about the whole MLM industry. Could she be at home today making a decent living from this company? Possibly. But she did not consider all of the financial costs involved with successfully marketing an MLM opportunity and had nothing to fall back on until she built a business.

So you wrote your plan. You examined the financial costs of your business. You have the cash to make this work. You have a source of income or some savings put aside to live on until you start bringing in enough income to live on. You're on your way to success. Wait a minute! What was that second reason most businesses fail? Something about marketing? Oh well, it can't be that important. After all, it's Avon (or Melaleuca, or Herbalife, or Tupperware, or even Fortune Hi-Tech Marketing). I'm an affiliate for SBI! (or Amazon or Iris Silks or the Internet Marketers Club). Don't they do all that marketing stuff for me?

It's true you can capitalize off the name recognition of many of these companies. Do you think that fact that Fortune markets for companies like AT&T, DishTV, and Travelocity helps me when I talk about the business? Sure it does. But I still need to let people know what it is I do. That's marketing! If you are not doing anything to promote yourself and your business, it WILL fail. Every evening, I write down a list of things I need to do the next day. I always include at least 1 thing I can do to promote my business. You should be doing the same thing. If you don't know how to market, there are lots of great books and resources available to help you learn. The first marketing books I ever read were Guerrilla Marketing and Marketing on a Shoestring. I can't even remember who wrote them but I remember and still use much of what they taught me.

Okay - business plan, marketing - now you're all set. Right? Maybe. Don't forget the last reason so many home businesses fail - poor management. I know you're thinking "what's to manage? It's just me." Sometimes managing yourself can be more difficult than you realize. Learning to manage your time and available resources effectively can be hard. Read some of my earlier posts about treating your business like a business for more insight and don't start out on the wrong path like I did. It's much easier to develop good habits from the beginning than it is to change bad ones.

Plan, market, manage. Or as I've heard it put from so many of my colleagues and mentors - Plan your work. Work your plan. Failure or success? The choice is yours.

Wednesday, February 27, 2008

There's Gold In That Thar' Internet!

I just finished reading an article about online marketing in which the author compared it to the California gold rush. The article said that just as hundreds raced West in the hope of striking it rich, so too are hundreds now rushing to get online with the same dream. And, it says, just as so many struck out in California instead of striking it rich, the same is happening to the vast majority of online marketers.

Are people really making millions online? Yes, they are. Are they the minority? I don't know. I don't have the data on that. Are there plenty of people making a decent living online? Yup! That I do know because I'm one of them and I know many others. Can you make a fortune online? I don't know. It's possible. But I DO know that you can make a living online just like many of us are already doing.

How do you get started? First, you need to decide what your business will be. Will you become an affiliate others' products? Will you create your own products? What types of products and/or services will you offer?

Second, it's a business. Treat it like one. If you think you are going to sign up for free affiliate programs, put up some free classified ads, then sit back and watch the checks roll in, don't quit your day job. It doesn't work quite that way. You can't own a McDonald's franchise without a little upfront investment. The same is true of any business. You can find some legitimate businesses that are very inexpensive to start. It only cost me $299 to start with Fortune Hi-Tech Marketing. And there are some very good affiliate programs such as SBI that are free to join but pay very good commissions. But you still need to invest a little bit in advertising.

Once you have decided on the basis of your business, you need to learn all you can about your internet marketing and your business in particular. There are many ways to do this and you will find all kinds of "gurus" offering to help if you will pay them enough. Some of them really do know what they are talking about and some of them don't. I can personally recommend some of them and you will find them mentioned in many of my earlier posts. You can also read this blog from the beginning for help. Be prepared to spend a little bit of money on some of the better books, courses, and seminars. Consider it part of your "online marketing degree!"

Let everyone know you are in business! This seems to be one of the biggest obstacles for most online marketers. Either they think they can't afford to advertise or they don't know how to do so effectively. Some, especially the network marketers, are afraid to do so because they think no one will take them seriously. Let's face facts. You can't slap a McDonald's on a street corner and expect to do business if no one knows McDonald's exists. You can't expect customers to find you if they don't know who you are. Tell people! If you don't have money to advertise, start by telling everyone you know. You can do that pretty inexpensively and you know far more people than you realize. When I started in Fortune Hi-Tech Marketing, the first thing I did was send an email or a postcard to everyone (and I do mean EVERYONE) I could think of telling them what I was doing and inviting them to visit my website. Some of them ignored me (FHTM is network marketing, after all). Some didn't. Some of those that visited became my customers. Six of them even became involved in the business with me. Those six have helped me build a team of over 300. Not too bad for a few emails and a postcard or two. And the ones who laughed? They aren't laughing so much anymore!

Work your business. The number one reason most internet marketers fail is that they give up. They just quit. They don't make thousands of dollars overnight and so they just stop working. Do you know how much my first FHTM commission was? 84 cents! Eighteen months later I'm not going to tell you how much I make, but it's enough to support me quite nicely. Am I a millionaire? Not yet. But I make more than enough to live on. So get up and go to work every day. If you have to keep your regular job while you build your business, that's okay. Just be sure you do at least one thing everyday to move your business forward.

Internet marketing is just like any other business. You will get out of it what you put into it. I can't promise you will get rich. I can promise you that if you find a legitimate business or affiliate program, take the advice of those who have gone before you, let people know you are in business, concede that you aren't going to get rich without some investment, and most importantly, WORK YOUR BUSINESS and DON'T GIVE UP - you can make a living online. Heck, if I can do it, so can you!

Thursday, February 21, 2008

Build A Team of Experts

My husband and I are getting ready to file our taxes and as usual, the discussion comes up - do we need to make some changes for next year? As business owners, we are faced with the fact that we make all the decisions concerning our business. The choices are endless! Is it time to incorporate? If so, should I become an LLC or is an S Corporation better?

Should I let Dearl talk me into using the Blackberry he bought me for Christmas (which is still in the box) or stick with my trusty system of Day Planner and Post-It notes?

Where should I focus my marketing this year? With all of the dire warnings about the economy, will some methods work better than others?

We desperately need a new computer. I want another PC. Dearl wants a Mac. Who is right?

Is it time to hire an assistant? If so, should we use a virtual service or actually hire someone to come to our office?

Decisions, decisions, decisions. AAAGGGHHH!!! It's enough to make you crazy! Especially when the wrong choice can have drastic consequences for your business.

If you are lying awake at night struggling with the answers to these or other business questions, it's time to build yourself a team. My team consists of personal friends and professional acquaintences whose advice I trust. I simply need to pick up the phone or dash off a quick email or text message for all of the support and answers I need.

To build your team, simply make a list of all the questions you have. List all of the professional services you need or may need in the future. Then start thinking of all the people you know that can fill one or more of these needs or answer one or more of your questions. My team consists of my accountant (I hate numbers!), a lawyer (always good to have someone whose up to speed on legalities), my daughter the computer geek, my friend Ken the marketing guru, and my friend Karin who is also an entrepreneur and is a good one to turn to when I have questions about communication. (She's the one who keeps me from blasting off emails I may regret later!). I also have friends who keep me up to date with the latest Alzheimer's research and the current services available for my dad (they work for the area Agency on Aging), a nurse and a holisitc health practioner that provide me with the latest health news (Dearl's heart), and two grandchildren who remind me when I'm not taking enough time for the important things in life ("Nee-Nee, why haven't you been by to see us lately? We miss you!")

How do you find the people for your team? You probably already know many of them so just ask. Tell them you are forming a team of advisors for your business and would like them to be part of it. Lay out the ground rules for their participation such as how to contact them, when to contact them, will they be compensated for their services, etc. Once you have them in place, ask them for referrals to people who may fill other needs for you. If they can't make any recommendations, then get out and network. I met my lawyer through the Girl Scouts and the nurse at a women's networking luncheon. And I have a whole network of internet marketers I can turn to for advice just from attending the jvAlert events. And of course, there is the wonderful group of ladies that make up the Baby Boomer Divas. They are a never ending source of support and advice!

"Solopreneur" - it's just a word. It doesn't mean you have to go through the business experience alone. Build your team. Use your team. And one day when someone who is just starting out on their own asks you to be on their team, remember where you came from and say yes!

P.S. The general consensus from my team of experts has been to ditch the Day Planner, burn the Post-It notes, and USE THE BLACKBERRY. I'm not sure I'm ready for this, but I trust their advice so here goes. Wish me luck!

Saturday, February 16, 2008

Give It Just a Little Bit More....

What's the difference between the very successful business person and the mediocre one? The successful ones always give just a little bit more. That little bit of extra effort can separate the superstars from the rest of the pack. They make that one more sales call, the extra follow-up call. They do the presentation when they wish they were out with their friends. They never forget the thank you note or the birthday card. They give their clients and customers the extra attention that says "you're special" and turns prospects into buyers and buyers into loyal customers.

Ask yourself today - what little bit extra can you do that will take your business to the top?

Thursday, January 10, 2008

Treat Your Business Like a Business

So you have decided that this is the year to start your home based business. Great! Working from home is a great way to be in charge of your own life and make the kind of money you've always dreamed of. It's been life-changing for me. I work when I want to work and relax when I want to relax. Of course, that caused problems of its own when I first started working from home. When you start working from home, especially if you are working in network marketing or MLM, people will not consider it a real business. When I first started and was struggling to make a living, my own husband would ask me how much longer I was going to stay home and play instead of finding a "real" job. You have to remind everyone that you are serious about this. It IS a real business! And you have to be sure you treat it that way if you expect others to take you seriously. Don't think you can invest in a business, pay the startup fees or enrollments fees, and then just sit back and watch it grow. You have to work your business like you would a "traditional" business.

There are some ways to be sure you do this. First, make yourself a schedule each week. Having set hours for working your business will help ensure you actually work on your business. It doesn't have to be 9-5 Monday through Friday. I'm an early morning/late evening person so I do a lot of work between 5:00 - 8:00am and 9:oopm - midnight.

Second, let everyone know what you are doing. You have to promote your business. If you are uncomfortable telling your friends that you are doing network marketing or MLM, perhaps you need to take a second look at your choice of home businesses. If you believe in your business don't be ashamed of it.

Third, dress to go to work. Every morning before I go to my home office, I shower, dress, put on makeup, fix my hair - all just to walk down the hall from my bedroom to my computer. I feel much more professional when dressed for "work" and that attitude of professionalism comes across in my phone calls and other interactions. When you have a meeting with a potential client or dowline member, be sure to dress appropriately then also. Too many times I've gone with downline members to presentations and have been surprised at their appearance. They've invited all their friends to tell them about our wonderful opportunity and so they show up in jeans and a tee shirt or scuffed shoes and stained pants. How are you going to convince your friends that this is the opportunity they've been looking for if you still look like you always did? How will you convince a potential client to take a chance on you if you don't look clean and polished and put together? You don't have to wear designer suits or expensive jewelry. Just be neat, clean, professional, and confident.

Treat your home business like a business! Work hard, don't give up. If you do, you WILL find success! Remember, it's not going to happen overnight. But develop some business discipline now and work on your goals every day. Soon, you'll be working from your laptop on a beach while your unbelieving friends are still tied to their JOBS!

Wednesday, June 13, 2007

What You Can Expect from Me

I have spent a lot of time trying this product and that system only to wind up broke and disillusioned. "Make money while you sleep!" "Start your cash machine today." Promises, promises. And I bought into every one of them.

Can you make money on the internet or through a home based business? You betcha! Is it easy? Depends on what you call easy. Will you have to work some long hours and (uh-oh) invest a little cash? You will if you really want to build some wealth. Will what worked for me work for you too? Maybe - maybe not. There is no one-size-fits-all method to earn financial freedom.

I have learned some things in my struggle to earn a living from the comfort of my home. Things like which programs really do work and which are just scams. Ways to save the money you do earn. People you can connect with who really will give you advice. How to stay healthy while you are building your online "empire." Resources to help you get there faster. I will happily share my adventures and misadventures with anyone who wants to avoid the mistakes I made. Not everything I share will be of use to you. Take what you need - leave the rest. All I want is to share my experiences with you and maybe we can all learn to live an abundant life - together. And if you have some expertise on any topic, please feel free to share it with us. WealthTogether means just that. We are all in this world together and everyone has the right to live abundantly. God WANTS us to live an abundant life. We are MEANT to be successful. What that means to you depends on what you want from life. I would not have made it without the help of others. Now I want to do the same for you.

I hear someone out there asking who is this person? I have never seen her marketing anything. Probably not. And just because you never heard of me until now does not mean I don't know what I'm talking about. There are thousands of people making wonderful lives for themselves at home and online and I'll bet you never heard of most of them. They don't spend a lot of time promoting themselves. They just go about their business every day - whatever it is. I will introduce you to some of them because they have helped me and they will help you too.

We're off to discover Wealth - Together! Come along for the ride!