One Fact Home Business Entrepreneurs Can’t Afford To Miss

Home business entrepreneurs will naturally be exercising their problem solving skills more than the average person. It just comes with the territory.

Problem solving is one thing – but identifying the primary log-jams of your business that are keeping you from achieving significant breakthroughs and higher levels of success are another world altogether.

These logjams are known as ‘constraints’. Home business entrepreneurs need to understand that constraints are an aspect of their business that has been severely limiting growth.

Naturally there are lots of potential ‘parts’ of you business that could be the source of your primary constraint.

  • The product or service itself (Example: A well known maker of Brandy was losing market share to a competitor with an inferior product simply because their bottle and label were sub-standard)
  • Conflicts between the tactics you’re using VS. a strategy suitable for market. (Example: People new to MLM are told to build their business by marketing to their family and friends instead of learning to find & attract the people who actually want what their selling).
  • Making the mistake of focusing primarily on working ‘in’ you business rather than ‘on’ your business. (working on your business allows you to develop the systems so other people can do the work while you focus on building the business.) McDonalds got where they are due to their systems.

Business entrepreneurs need to consistently be ‘on the hunt’ for the current aspect of their business that is under the greatest constraint.

This is essential because these logjams exist at every level of a businesses growth.

Like life itself, a business is either growing or its dying. In order to continue to expand your business (or even to ‘maintain’ an existing position) clearing these log jams are a top priority and responsibility for business owners.

Unfortunately; the most important element of success in business success (and the biggest constraint by far), is also almost always the one that home business owners shun the most: Marketing & Sales.

This can not be emphasized strongly enough: Without a ‘sale’ nothing else happens.

No matter how good your product/service is, if people aren’t aware it is available or how it is substantially better than what they are using, you will fail.

Those words may upset some readers but I’m a no B.S. kind of person and we all need to face reality – and the sooner the better…

The good news, which is just as unknown to home business owners; is that ‘sales’ is actually a lot of fun once you learn to attract the people who are already motivated to purchase what you’re offering.

If you’re a smart home business entrepreneur you started your business because you found a product/service that you love.

That’s great, but that does not mean that everyone else in the world is going to share your interest in that product let alone love it the way you do.

Time and again I’ve seen new home business people trying to convince a prospect about their product’s merits without recognizing they might as well be talking to a brick wall.

Pitching your product to the wrong prospect is by far the most prevalent mistake I see new home business entrepreneurs making. The consequences are often serious:

  • The whole experience is very stressful and emotionally draining for both the prospect (especially if it’s a family member or friend) as well as yourself.
  • The resistance generated from ‘wrong prospects’ is substantial and can make a new entrepreneur second guess themselves – or their product (which can kill a new business in nothing flat).
  • The time wasted on ‘wrong prospects’ means you weren’t with the prospect that wants/needs your product (i.e. – no sale).

Constraints are a fact of business that is constant. They are either suppressing a business or (once cleared), are opening whole new opportunities for expansion. Learn to face this critical fact and to embrace the opportunities they present.

Home business entrepreneurs are the new lifeblood of America’s economic recovery and learning to consistently address constraints will be a major key to their success.

100 Mental Training Success Tips Home Business Entrepreneurs Should Know and Do

A collection of success tips that I have gathered over many years of working with independent online business entrepreneurs. I have created a list of my 100 favourites that I personally follow to drive forward my online home business. I organised the tips into areas covering attitude and discipline, focus and visualisation, time and task management, income and lifestyle, knowledge and skills, personal growth and lifestyle, evaluating your activity, and giving and adding value.

ATTITUDE & DISCIPLINE

1. Be persistent and give yourself time for momentum to kick in.

2. Make up in numbers what you lack in skills.

3. Celebrate success at every step.

4. Learn to manage the opinions – everyone has a right to have one – never make it personal.

5. You are not the message, you are the messenger.

6. Your family and friends may not understand the journey you are on.

7. Everything works when we work.

8. If you get overwhelmed and confused, go back to doing the basics.

9. Pass the three-part test – loyalty, work habits, consistency.

10. Have a warrior spirit. Set objectives and take action every day.

11. Make a commitment to any new activity. Succeeding at something is about taking not making a decision.

12. Being successful is the ability to continue with your plan long after the emotion and circumstances surrounding your original decision has passed.

13. Your confidence is what makes you attractive in the market place. People buy people they know, like and trust.

14. Avoid negative thinking and negative people that bring you down and steal your dreams.

15. FEAR is False Evidence Appearing Real. Feel the fear and do it anyway. Growth comes from stepping outside your comfort zone.

16. Run to your fears. The place where your greatest fears live is also the place where your greatest growth lies. (Robin Sharma)

17. An ounce of action is worth a ton of ebooks.

18. All excuses are equal and none of them count.

FOCUS & VISUALISATION

19. Know what you want, why you want it, and when you want it by. Write it down, read it twice a day. Know the price and pay the price.

20. Visualise your destiny – ‘see it’ and plan it – be very specific about what success looks like and feels like, and do this for each and every milestone or goal you set.

21. If you think you can or think you can’t, you will always be right. (Henry Ford)

22. Try to be solution focused.

23. Understand the true power of dreams and goals, they act like magnets pulling us forward and need to be strong enough to break away from the past pulling your back.

24. Only an idea has the power to spread.

25. The only thing you need to believe in is your own work ethic and how badly you want to succeed.

26. Keep your inner flame going with personal development and being active in the community.

27. Use positive language. Words, thoughts, actions, results. Pursue all your challenges and obstacles with a positive mental attitude.

28. Mental visualisation is all important to your longer term success. How you want to see yourself, how you hold yourself, your expectations – create a detailed set of images of who you want to be.

TIME & TASK MANAGEMENT

29. Get organised.

30. Consistency is far better than the occasional blitz.

31. Create a daily method of operation, discipline yourself and be accountable to yourself.

32. Everything works -but find a daily method of operation that works for you, around your personal situation and commitments.

33. Fill your time only with productive activities.

34. Set out your targets and work backwards so you know what needs to get done.

35. Develop a sense of urgency and get into massive action.

36. Remember that you, of all people, deserve your undivided attention.

37. Anyone or anything that tries to distract you from your mission and goals should not be tolerated.

38. Being busy is not the same as being productive. Don’t be busy being poor, be busy adding value to your life.

39. Develop good time management. It’s not the hours you put into your business, it’s the business you put into your hours.

40. Lead flow is the source of your momentum and income growth. Don’t over-worry on conversions until you have good lead flow into your business.

41. Support and encourage your team members, but don’t be responsible for someone else’s business. Balance motivating and guiding with encouraging independence.

INCOME & LIFESTYLE

42. Run your business, don’t let it run you. Build a business on the vision of the life you want to live and start living it.

43. Get going fast, massive action equals massive results.

44. Remember that selling a 6 figure income opportunity isn’t about the money, it’s about a dream lifestyle free from debt free to work when you want, where you want, how you want

45. Only market products that earn you significant return on your investment of time and budget.

46. “Top Tier” Opportunities Attract “Top Tier” People That Are Smarter (And More Fun To Work With)

47. Identify the top five things you do in your business that generate 80% of the results.

48. Know your business numbers – your running costs and your bottom line.

49. Reinvest your earnings back into your marketing.

50. Promote, promote, promote – call to action, make offers, create demand.

51. Focus on the long-term residual income potential not the short-term earnings of your business.

52..Avoid discounting. People don’t buy on price, they buy on value.

53. 80% of the world does what everyone else does and lead an ordinary, average life. Only 3% live extraordinary lives because they make extraordinary choices and do extraordinary things.

54. You are the person that sets the pace of your business. Make a decision on exactly what your goals are and develop the daily discipline to achieve them.

KNOWLEDGE & SKILLS

55. Know your craft and be knowledgeable, committed, loyal and enthusiastic about the products you choose to market and the company.

56. Keep it simple, don’t reinvent a proven formula.

57. If you get stuck, find ways to get out of the glue quickly to avoid negative impact.

58. Don’t think about what you know, be curious about things you don’t yet know.

59. If you have doubts, learn more about your company, your products, your business, your craft.

60. Better to personally act upon the information contained in two good books than to be able to quote from a hundred.

61. Build your business like you build a water pump. It takes some time to set up and you have to crank the handle, but then the water comes with just a light touch.

62. Marketing is not an exact science. It takes trial & error.

PERSONAL GROWTH & LEADERSHIP

63. Compete with yourself. Finish each month stronger than the one before so you feel and see you are growing.

64. Build trust and confidence in your community and with your audience.

65. Be a leader. Step up to the mark – get up, dress up and show up and give back.

66. Don’t miss out on opportunities to experience extraordinary things. Go the ‘extra’ mile.

67. Leadership is a choice not a title. Take 100% responsibility. Blaim is drain, never complain. You have complete control over your future.

68. Teach only what you do. People do what you do not what you say.

69. Gather testimonials for your product, your team, you. A testimonial is a true story packaged in a powerful way so as to impact and influence others.

70. Get out from behind your PC sometimes. Shoot videos outside or go do some offline advertising

71. Develop a positive ‘can-do’ ‘will-do’ attitude fuelled by your desire to succeed.

72. Affirm your belief in yourself, every single day celebrate your achievements and breakthroughs.

73. Learn and adopt what successful people do. Master the fundamentals that are working before you modify, adapt and innovate.

74. Do the uncomfortable or difficult stuff first – (“Eat That Frog”, Brian Tracy). It soon becomes comfortable and second nature.

75. Set a goal to become a millionaire, not for the money but for the person you will become (Jim Rohn)

76. Make the best of what you have but always be hungry for more.

EVALUATING YOUR ACTIVITY

77. Learn from what’s not working and become a problem solver.

78. Leave your ego at the door.

79. Check your positioning – are your leads targeted, do they convert well.

80. Plan, Do, Review. Don’t procrastinate, just get stuck in and take action. Ready, fire, aim.

81. Don’t look to the magic bullet – multi-task, look for new opportunities, test and refine.

82. Monitor your results against your plan. Did you do the activity?

83. Qualify your prospects. Don’t try to sell them, let them sell you. Questions are the answer.

84. Your results are your feedback. Blame no-one but yourself. You are where you are and how you are because of the decisions you have made over time.

85. If you’re doing the activity, getting the numbers, you’re energy and attitude is right, the it’s usually something missing from your skill set. Communication.

86. If you fail to meet your expectations on any one day, don’t drop the ball but work twice as hard the next. Don’t get used to accepting dropping the ball. Get up tomorrow a little bit better.

87. It’s easier to do the work than deal with the disappointment in yourself of not meeting your targets.

GIVING & ADDING VALUE

88. Create uniqueness & value in what you put out on the internet.

89. The market doesn’t pay you on what you need, it pays on value. Those that help the most people make the most money.

90. If you want to double your income, you must double your value in the market place.

91. Stop making it about you, your business, and what you need to happen. Instead identify what others need most and how you can help others get more of what they want.

92. Focus on taking people to the next step in your sales & marketing funnel, not all the way in one leap.

93. Authenticity dramatically increases your results.

94. Pick up the phone to connect with your leads, new members and customers.

95. Form groups and communities to target interest and build relationships (Twitter, Facebook, MySpace,LinkedIn)

96. Learn how to flick the switch with people. Develop emotional intelligence. Find their pain points and show them the solution and get them thinking in a new direction.

97. Find people, sponsor them, work with them to keep them.

98. Be clear about your business processes, what to do at each step so you can take others through that process, lead by example.

99. Teach, validate, recognise and refresh your team.

100. Seek inspiration, but every day also be someone else’ inspiration, it will feel amazing!

Tips and Strategies for a Small Business Entrepreneur to Beat the Competition

Many new Small Businesses fail during the early years and one of the reasons attributed for the failure is their inability to beat the competition.

To be successful in your business and to be acknowledged as a successful small business entrepreneur, you have to adopt certain strategies that will enable you to outsmart your competitors and beat them.

1. Go Shopping Yourself:

If you are a manufacturer of certain products, you should go shopping yourself at least once a fortnight. By doing this you will be able to see how and where these products are being displayed, the price at which your competitors are selling their products and the type of packaging used. In fact purchasing of your competitors products on regular basis, testing them and comparing them with your products will be a very useful and productive exercise.

2. Become a member of a Professional Association:

As an entrepreneur it is very important that you become a member of a professional association related to your business or industry. Never, ever think that you can operate in a vacuum and succeed. By regularly attending their meetings, you will get the opportunity of meeting like minded people and your competitors too. Opportunities for gathering vital information and secrets abound in such meetings. Be watchful, grab them and implement them in your small business.

3. Gather Information about Your Competition:

You must have a plan whereby either you or one of your employees should order your competitors’ broachers, catalogues and price lists. This will give you very vital and useful information as to how these products are priced, advertised and promoted. Keeping this constant tab on your competitors will enable you to discover the reasons why some are more successful than you. This ongoing study will help you make very calculated changes in your price structure, marketing and advertising strategies.

4. Attend Trade Shows and Seminars:

Trade shows are places where you as a small business entrepreneur can make useful contacts with other entrepreneurs in your own field of activity and other allied fields as well. Viewing new developments, technologies and marketing methods will inspire and motivate you to develop your own business in those lines.

Attending seminars can be very useful, educative and a place to make useful contacts. These trade shows and seminars can open up new windows of opportunities for you.

5. Read Trade Magazines and Newsletters:

Subscribe to your industry or business trade magazine or newsletter. You will come across many things that you are not aware of, in manufacturing, advertising and marketing. These tips and tricks will help you fine tune some of your present strategies.

6. Address Meetings and Focus Groups:

Never miss an opportunity to address meetings related to your industry or business. It will also be wise to organize Focus Groups where you can obtain the views of the members regarding your products. The feedback thus obtained will help you make changes in your products and the marketability of your products.

7. Distribute Free Gifts, Vouchers and Coupons:

The whole world loves free gifts. Even millionaires love anything given free. You should take full advantage of this and promote your small business by offering free gifts. Whenever there are community gatherings, focus group meetings and other functions, try and distribute free gifts, discounted coupons and vouchers. You should ensure that you have your website URL, address and phone numbers embedded in all your items.

8. Have a Professional looking Website.

A well designed professional looking website is absolutely essential. By providing all the information about your business, products and services, it will add credibility to your small business.

Conclusion:

To succeed as a Small Business Entrepreneur is your ultimate goal and failure is not an option. Keep a watchful eye on your competition and implement these tips and strategies. It will not be long before your competitors disappear from the radar screen.

Understanding The Business Entrepreneur

Who is the business entrepreneur?

The business entrepreneur is not a “person” but a part of everyone’s personality. The entrepreneur is our visionary, the creator that can be found in each of us.

We’re born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. What we do with it is up to us.

It is developed, nurtured, and given space to flourish or it is squelched, thwarted, without air or stimulation, and dies. Look at anyone around you and you will recognize whether or not the entrepreneur is alive and well within them.

The business entrepreneur in us sees opportunities everywhere we look, but many people see only problems everywhere they look. (I bet we all know people like that!)

The business entrepreneur in us is more concerned with choosing between opportunities than he or she is with failing to see the opportunities. Opportunities are everywhere if you are open to it.

We’re all born with what we need to be a business entrepreneur.
We are born to create. Everyone is born with that drive, desire, passion, and interest. It is what we do with it that makes the difference.

Most business owners have not fully developed or nurtured the entrepreneur ideas within themselves. Working in the business consumes them with little time left to work on it.

There is no time or energy to be creative, nor the understanding that being creative is being alive, fully alive. Few business owners are fully alive; they’re too busy working for a living.

A business entrepreneurial seizure
A business entrepreneurial seizure is the moment the entrepreneur decides it would be a great idea to start his or her own business. It’s when one believes that knowing how to do the work of a business is all one needs to understand in order to start and grow a business.

So the accountant starts an accounting practice; the mechanic starts an auto repair business; the cook opens up a restaurant. They go to work, accounting, fixing cars, or cooking meals, none of which is the true work of the entrepreneur.

In doing so, the person who starts his or her own business is lost in the teeming confusion created by demands he or she never anticipated…the demands of organization, the demands of cash flow, the demands of people — employees, customers, suppliers, banks, family — and so forth and so on.

They are simply not prepared for the demands that are going to be made on them. The longer they’re in business, the worse it gets. There is no vision; there is only being a slave to work and staying alive. The seizure is long gone; the entrepreneurial vision a vague memory.

The business entrepreneur is not really interested in doing the work;
He is interested in creating the way the company operates. In that regard, the entrepreneur is an inventor. He or she loves to invent, but does not love to manufacture or sell or distribute what he or she invents.

You will not find business entrepreneurs on the production line. You will find them in their office, their room, in their research center, in their mind, dreaming about the product, or building a sample of the product, or drawing a picture of the product on the back of a napkin. Entrepreneurs are dreaming, scheming, imagining, playing…. not doing it, doing it, doing it.

The business entrepreneur goes to work ON the business, not IN the business.
The business entrepreneur invents a business that is more successful than any other business. The business entrepreneur builds an enterprise; the technician builds a job.

It takes study, practice, continuous education and experience for the entrepreneur to create a world class company. While top entrepreneurs seem to be born with the qualities and traits that mark them, there has, in fact, been an enormous amount of trial and error in their lives.

In many ways, it is the school of hard knocks that can turn innocuous little stones into sparkling, outrageous gems called entrepreneurs. Giving up is not an option and challenges are just par for the course.

Trust your entrepreneurial spirit, never give in and chase your dreams until they become just as real in reality as they ever did in your mind.
You will be glad you did.

Make every post a winner!!

Become the business entrepreneur you have always wanted to be.