Mor Vacations – Success Secrets
Conservative estimates show that there are between 20,000 and 35,000 new home based businesses started each and every day. Those numbers are truly astounding. What is even more shocking is that more than 95% of these new home based businesses will fail, and most will fail within just 90 days. But, do not be discouraged, because for those 5% who manage to achieve their goals, the home based business is absolutely the fastest path to a six figure income. This article will provide you with some sound principles to follow so that you can become one of the 5% who makes it.
KEY #1: It is a business – right? Just because you run your business from home does not mean that it should be run as if it were a hobby. The single biggest reason that home based businesses fail is that they are not run like a business. If you have never owned your own business before, then do some research. No, you are not trying to blow the doors off WalMart, but that does not mean that you do not have to have a solid business plan in place. I am not saying you have to have a formal, 35 page document suitable to obtain outside financing. You do, however, have to put a reasonable effort into creating a plan for your business. Some questions you need to answer: What will your marketing plan and budget be? Who is your target audience? What need are you filling?
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: Keep your Goals Attainable. Many people fail because they set themselves up for failure from the beginning. They make their first goal to make $10k a month and then when they only make $200 their first month have a big let down! Now each product is different and has different price points, commissions, profit, etc but set a goal that is realistic. If you make a $500 commission on each sale, make your first goal to make $1000 your first month. Then when you achieve that success, expand your goals.
KEY #4: Turn your goals into Tasks. Now that you have a list of achievable goals, analyze them and turn them into a set of tasks that will be necessary to achieve those goals. Sounds simple, right? It is, but you’ve got to do it
KEY #5: Transform your Tasks into a Plan. This is absolutely critical. The difference between a dream and a goal is that goals are defined and have a plan to achieve them. You must take these tasks and schedule them onto your agenda – allocate time to work on them, set due dates. Remember Key #1 – treat this like a business. If you were working for IBM and you had a $30,000 budget to achieve your goal, how would you define that plan?
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: Understanding the 80/20 Rule. Spend 80% of your time on the 20% of your tasks that are the most successful in making you money. As you build a team of sales people below you, you will have to spend 80% of your training time working with those 20% who are the most effective. You have to learn to discern between what makes you money and what doesn’t and focus 80% of your time on what makes you money.
KEY #8: Time Management. Lack of organization leads to frustration and that leads to you joining one of the 95% who end up quitting. The real key to time management is not letting it manage you, but scheduling specific tasks on your agenda and focusing on them and only them at that time. In today’s electronic world we easily get distracted by the phone, the email, etc Successful business people know how to effectively manage their time.
So, what’s the bottom line? The bottom line is that, first and foremost, you will get out of your home based business what you put into it. It is a business, after all, not a lottery ticket. However, with determination and commitment, it can be the fastest and most easily achieved path to financial success.
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