Article Advise

submitted: Oct 18th 2008 | by: TroyBroussard | Total views: 2 | Word Count: 952 | |

Today's estimates show that there are 35,000 or more home based businesses being launched each and every day in the US. Those are very big numbers. But here is what is even more shocking - 95% of them will not survive, most not even making it 90 days. The good news though is that the quickest way to financial independence is through home based business and becoming one of those 5% success stories. So read further and learn some sound principals to make it into that 5% club.

KEY #1: Focus on the Business. Now that sounds simple, right? But most who fail in this industry fail because they don't treat their business like a business. This is not a hobby. People will not just join up with you because you're a great person. You have to have a game plan in place - a budget, advertising, marketing, product research, training. In short, you have to treat this exactly like what it is - a business venture. As a former Executive Director of Technology making high six figures, I can tell you I would have never risen to that level by not treating my job seriously and committing to it 100%.

KEY #2: Try Not - Do! Okay those of you who are movie buffs will know that that quote comes from Yoda in Star Wars. Is my "geek" side showing through? Sorry, but this is absolutely fundamental to you achieving success. Don't try to be successful, BE successful. Does Donald Trump try? Or does he achieve? Do you really think that he just "gives his best shot"? Read about Donald, study him - you will find that he is relentlessly committed to succeeding in any endeavor he pursues. Here is how I recommend you approach your business. Imagine that you could not fail - how committed would you be? If you knew that you knew that in one year you would be successful, wouldn't you stick it out? Relentless pursuit and commitment will take you there.

KEY #3: Set realistic goals. Lofty goals are great to keep you shooting for the stars, but don't confuse goals with dreams. Set goals that you can achieve. Allow yourself the small successes. Don't set goals so high that you end up feeling you have failed by not achieving them.

KEY #4: Transform Goals into Tasks. Goals are good, but we have to make them "actionable tasks". So, reduce those goals into a step by step list of tasks that you need to accomplish.

KEY #5: Make a plan from your Tasks. Now take those tasks and put them on a timeline - map out a plan. You see this is the key between a goal and a dream. A goal has a plan associated with how to achieve it - a dream is merely a desire or a wish.

KEY #6: Invest in You. You don't have to get carried away here, but every little step you take to improve your abilities will impact your bottom line. Find the areas that you need to improve on and begin to invest on a daily basis in those areas. When I say invest, I'm not necessarily saying to spend money. You can invest time as well and there are a tremendous amount of free resources available if you search them out.

KEY #7: The 80/20 Rule. Understanding the 80/20 rule is a real gem to success. I highly suggest you do some reading on the subject. Here's a simple example. Take the action that makes you money (making calls, for example) and spend 80% of your time on that task. If you only have 10 hours a week to work on your business, 8 hours should be spent on making calls (in this example). That means that you only have 2 hours left for "everything else". Effective business entrepreneurs understand and practice this principle religiously.

KEY #8: Schedule your Time. Okay, I know, you don't like this one. You're saying, hey the reason I wanted to start a home based business was so that I didn't have to punch the clock anymore. I understand, really I do. But here's the thing, a bunch of tasks on a task list that is not scheduled and in your appointment book becomes nothing more than a "wish list". It is human nature. We make great big task lists, then because we can't get it all done (was it really even feasible to think we would?) we become frustrated that we're not getting anywhere and our productivity suffers even more. But, by scheduling your task and allocating time to them, you quickly discover that there is only so much you can get done and you are forced to prioritize your tasks. What's more, by keeping your schedule you will get far more done that you ever would have just following a "wish list" - oops, I mean, "task list".

The bottom line is that there is no magic pill to be instantly successful. A home based business is just like anything else in life - we get out of it what we put into it. If you run it like a hobby, then don't be surprised when it pays you like a hobby. If however you commit to running a well planned and executed business, it just may provide you with the financial freedom you desire.

About the Author

Troy Broussard is a successful Online Internet Marketer and has built a six figure income in just six short months online. To discover more about Troy Broussard or his M.O.R. Vacations travel business, please visit his M.O.R. Vacations travel site and get a copy of your free eBook.

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