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Success vs Failure in a Home Based Business

Recently, I was speaking to a group of Entrepreneurs when I was once again asked; “why do so many people fail at home businesses”. This is, without any doubt, the most frequent question I am asked. And, although I see the answer as very simple, I am astounded at how many people just do not “get it”.

Let’s look at the question at a deeper level (what are they really wanting to know). “Why do some people make tons of money easily and so many others make no money at all”?

The answer to that question is three things; desire, belief and commitment. Now, before you say to yourself, “here we go again”, I want to take this deeper than just the desire, belief and commitment, but into the reasons why these three answers are so important to your own success.

Anytime someone starts a home based business, the reason behind it is usually 1 of 2 things. Either they want to make extra money or they want to have time freedom. Personally, I believe the 2nd reason is the same as the first, because in order to have lots of free time and be with your family, you must be making some money!

Anyway, I have digressed.

This is what happens. You find a business you like and you get started. You either jump right in and start marketing your business or you are in an unending “ready to get ready mode”. But wait, where is your plan of success? Did you take a serious look at what you really wanted to accomplish with your business?

Did you then look at the business model to determine what it will take to get what you want from that business. Are you looking for microwave success or slow cooker success? Does this business have true potential to create a 6 figure income the first year or will it take a long time to build to that level? What is your plan to accomplish this level of income?

For example, if you are looking for just a few extra dollars and willing to put in years of time to build a highly profitable money machine, you might look at a Multi Level model. You must take into consideration how long it will take you to have what you want. Don’t get me wrong, MLM is a sound business model. But, historically, it generates income at a slow cooker pace.

Another example is Direct Sales, usually this model involves higher profit margins (these can be upwards to thousands of dollars per sale) and can create substantial income much faster with a microwave potential.

Decide which model you want, and then find a company with that model. Also look at the evidence of success for the product and company. Are there people who are getting what you want? Look at the people who are living the life you want. Did they accomplish it within months, or within years? The fact is simple, if anyone has made what you want to make in the time you want to make it, then you can too, anybody can!

I can’t stress this enough. I did not say “is everyone” getting what you want, because regardless of the business, many people will still fail, because of the points I am discussing here. The key in business success is knowing that if anyone can do something, so can you.

Now, back to the three reasons. Did you take a look at your level of belief in the business (do you really believe it can take you to where you want to go) and did you make a commitment to succeed at it?

Now get this; “Most people start a business, playing to not lose, instead of playing to win”. The difference between these two things is the underlying desire, belief and commitment.

This is exactly why 80% of businesses fail. Regardless of the venue, home businesses or brick and mortar businesses. The owners never decided to play the business game to WIN IT!

But to play to win takes those 3 elements; desire, belief and commitment.

Everyone has some idea of the things they want in life. Few however, get emotionally connected to having what they want. They go through life “wanting” and what do they get, “more wanting”. The difference here, among a few others is primarily getting emotionally connected to the desire.

In order to really have something you want, you have to focus on it, give it lots of energy and lots of attention. But the emotion comes from seeing yourself already in possession of it. And the emotion is what drives the level of success. Not a negative of want, but a positive emotion of have.

So what does this have to do with the new business owner? They want to succeed (and make money) but rarely see themselves already having business success. They go through their days hoping for customers and sales, hoping for a profit and more importantly, make decisions based on hope instead of belief.

When in business, you must play to win. This means taking some chances. Look at people like Trump and Gates. Do you really think they started businesses hoping, or did they have a deep, undying belief they would be successful? No one ever became a successful business owner or even wealthy, without taking chances. But the ability to take chances comes from belief. Belief in yourself, belief in your business, belief in your business model and your compensation plan. If there is any lack of absolute belief in any of these areas, then you are doomed.

At this point, you are unable to make good business decisions because you do not absolutely believe in your own success. Any decisions made are made out of hope, not out of belief. And, when you make decisions from hope, you are playing to “not lose”.

But what about commitment? Based on desire and belief, you then take ownership of your business. You decide to do whatever it takes to have your success (with absolute integrity of course). Most people fail simply because they give up. Of course, then come the excuses… (that business did not work, the product was bad, the company was bad, I was scammed and on and on and on…) The only reason, if you have found the right company to meet your desires (based on compensation, product and others having what you desire) is that you gave up. Period!

There are so many stories in history of people who gave up seconds before success, inches before success on so on. In most businesses, it takes only one sale to turn the tide completely. If you bail out before that one sale appears, then you are just giving up on yourself, your desires and your dreams. And unfortunately, when you bail on one business, you are going to bail on many until you finally “get it”.

Just a brief point I feel I must share with you. When people are trying to lure you into their business with the “I tried xx amount of businesses before finding one that worked” routine. RUN, RUN FAST… they are failures and will not be good leaders to guide and assist you in being a success. Do not buy into their excuses.

Determine what you want, how you are going to get it. Believe you will have it regardless. And then, make a commitment to yourself and your business.

Success is not hard, making money is not hard. But learning to deal with what is inside you can be. I will end with one of my favorite quotes, but do not know who coined this… “Work a job and make a living, work on yourself and make a fortune”!

To your success…

Success is in the Details – A Quick Guide to Starting a Small Business

Thinking about starting a business? Make planning for the success of your business a priority to avoid common mistakes small business owners historically make. What does planning for the success of your business mean? It means taking the time to research and plan every aspect of your business.

Who is your market? What type of business structure will best meet your needs, short- and long-term? Do you have enough start-up money or require funding? What equipment do you need to start your business? Are there any licenses or permits required to start your business? Are you prepared to perform all of the functions of your business or will you need to outsource services? The list of questions is endless.

Create a check list for the set up your business or use the one included here as a quick guide to plan your small business. Revise and expand it as needed. Develop a relationship with local, state and federal entities such as the State Comptroller’s office and the Internal Revenue Service. It is your responsibility to know and follow all governing rules, regulations and tax laws pertaining to your business. These agencies can provide valuable information and resources to help your business succeed.

Seek local area professionals for guidance and services in areas such as taxes, bookkeeping, contracts, employment law, business development, marketing, and so on. Develop a core group of “go-to” advisors and resources to help you take care of the details of your small business and plan for success.

Easy to Use Checklist

Business Set-up

  • Identify your market
  • Identify and list your core products or services
  • Contact local, state and federal agencies for regulations, tax and permit requirements
  • Select a business location (address and contact information)
  • Name your business, select a business structure and file appropriate forms
  • Create a business plan
  • Procure funding (if needed) for business start-up

Business Operations

  • Open a business bank account
  • Set up and furnish your business office
  • Set up bookkeeping or outsource
  • Set up processes and procedures
  • Create business forms and invoices
  • Establish vendor accounts for services, products and inventory
  • Establish a business schedule and hours of operation
  • Identify and list all functions required to run your business
  • Hire staff or outsource functions as needed

Business Marketing

  • Create a business identity
  • Develop a marketing plan
  • Create marketing materials such as business cards, brochures, etc.
  • Market, advertise and promote your business

Start A Recycling Business From Home

Welcome to the wonderful world of starting a Recycling Business. This is one of the most profitable and least exploited businesses in the world today. The recycling industry is extremely hot right now and there seems to be no end in site as new businesses pop up daily and people are looking for ways to help the environment. Now, you have the chance to profit from this explosion and open your own business.

Opening a Recycling Business is really very simple and the best part about the business is the lack of competition. You see a few opening, but the field is so wide open and the profit potential and business growth is enormous. Our book will walk you step by step through the entire process and you can open the business from your house or open a location. We always recommend the cheaper option because it is easily doable, but you can make that decision for yourself after reading our book.

When you make up your mind to opening any business and this business is no exception, you need to have a can-do attitude and not let a small setback ruin your plans to succeed in your business. We see it everyday as people get gung-ho about opening up a company and then one small negative thing happens and they abandon all the plans they have put in place. By reading this report, you have taken the first step, but there will be negative events that will happen in your business. By being prepared though, you won’t give up no matter what obstacles stand in your way.

Writing a business plan no matter how short or how unorganized it is will help you stick with your plan. Although you can’t prepare for every negative event, having your goals and a time frame in writing will help you daily. Just remember that most of the success in business comes from planning and execution. A good idea is that, just an idea, but with proper execution, this idea can become a real and sustainable business. We write down goals and items to do on a weekly basis from the time we decide to start our business. This has helped us in our businesses and I know it will help you too.

That is enough of our business teachings although I know they will help you in your Recycling Business. You bought the book to learn how to open a Recycling Business and that is what we promised you our book would provide. But, please keep these business principles in mind when you are opening your business. This book is going to take you though the entire process but there are a few questions you need to answer before we go any further. These are general questions that you will be able to answer no matter how much knowledge you have.

1. Are you going to open your business at your home or are you going to purchase a location?

2. What type of marketing do you do best? In person marketing, sales letters, internet marketing, etc.

3. What is your marketing budget per month?

4. How much money do you need to make each month when you first start your business?

5. Are you looking to grow this business into multiple locations with possible franchises or are you happy with one location providing your income?

6. Is the reason for opening your business to help the environment or love of money?

7. Do you understand what the target market for your business is?

8. Do you want to create multiple sales opportunities from your clients or do you just want to operate a Recycling Business only?

For more information on starting a Recycling Business visit: