Building your Business Success in 2011

4 01 2011

 

Analyzying Business SuccessHow many times have you heard or seen information on Building your Business Success for the new year? Have you become tired of reading these articles to realize that they are nothing more than a business version of a personal New Year's Resolution? The bigger question is, if your business was not as successful as you would have liked in the past year, building on that lack of success is not an exciting proposition.

This week we are going to again review business success and why it is not a “New Year’s Resolution”.  You cannot decide one day that you will make your business successful…well, actually you can decide to do that, but effectively implementing your desires is an entirely different problem.   One main reason many people with small, home based businesses don’t succeed is that they do not have the commitment necessary to create and grow a business.

Many people who start a small home based business are usually told that “the business will grow itself” or that “you won’t have to work very hard at this, the product practically sells itself”.  If you got into business under either of these premises, or something similar, odds are that you are ready to throw in the towel.  The key to business success, or success in general is commitment.  Very few people will stick with anything once it starts getting difficult, or once the business doesn’t seem to pay off in the time-frame they expected.   Like anything, if you plan on making your business successful, you need to have a plan and COMMIT to staying with that plan for the long haul.  Granted there will be occasions where you are going to have to modify the plans, but you can not modify the commitment to the business overall.  If you start, and then, once the going gets a tad tough, quit, how will any of your customers want to stay with you in any future endeavors?   Customers will run from you if you show even the slightest sign of lack of commitment to your business, or worse yet, if you show lack of commitment to them.

Once you are committed to the task of becoming (if you are not already)

Commitment to the Plan

successful, you should realize that success is your PERSONAL responsibility.  You cannot rely on others to make your small business successful, others may help, but the success or lack thereof rest entirely on your shoulders.  If you do not push others to work harder, odds are that they won’t.  You should not place the blame of your lackluster success on anyone who is helping you to grow your business.  This holds true for any business partners you may have also.  Just because you are in a partnership, if you want the business to become successful, it is YOUR responsibility to make it so. Having your partner on the same page helps a lot, but do not expect them to have the same level of commitment.

 

Many problems people have when trying to grow their home based business is the lack of validation that they are doing a good job.  We have become used to getting that congratulatory pat on the back for a job well done and will drive harder just to get the next pat.  The problem with being your own business owner is that the only times you will get a pat on the back is if you pat your own back.  You need to learn to not look for external validation of a job well done.  You know, based on your existing plans and set goals, when you have succeeded, you do not need anyone else telling you that you did a good job.  Keeping your business successful is a major milestone these days since there are so many businesses that fold when the times get tough.

Next week we will complete this discussion on building your business success in 2011.  In the meantime, if you are looking for a business opportunity and still have no idea what to do or where to begin, please take a look at our website.  We offer several different business opportunities and if we don’t have what you are looking for, we may be able to point you in the right direction.  We are also available for consulting, if you would like someone to review your current business plans.

Until next week…

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Balancing time with home based business

9 08 2010

Time is something that once wasted can never be recovered.  It is a fact of life.  No matter how hard you wish, there will not be more than 24 hours (and a few minutes) in a day.  Therefore, when you start your own home based business, time is a huge factor in what you do and when you do it.  Your passion for your new business venture will help you build and grow your new home based business, but if you do not take time out for other issues, you will probably not be completely successful.

Most people will start a home based business while working a current job (did you know that J.O.B also means Just Over Broke?).  This way there is no sudden drop in income flow, and you have the financial backing (the bank of YOU) to get the home based business up and running.  The problem is, your personal life can suffer, especially if you are already working long hours at the regular J.O.B..  Then you ask yourself, when do you carve out the time to get your personal business going?  Then, when do you personally get some version of rest?  As you are probably aware, when you are working for someone else, you are trading your valuable time for their money.  Not always a good trade, but it does usually get the bills paid.   More people are looking to ways of earning a second income stream now.  With multiple streams of income, you will stand a better chance of success, especially if your main J.O.B. is terminated.

The key is to find ways to balance your time so that you do not seriously neglect your family and personal life while starting up your home based business.  You also do not want to impact your current job and have that terminate too early.   It is very difficult to balance your already precious time, but if you want to be financially free, you have to make some sacrifices.  This article will hopefully provide some suggestions on how to mitigate those sacrifices so they don’t hurt those around you too much.

Many of us, when we start-up our own home based businesses will have a tendency to want to work 7 days a week, all hours of the day and night.  This will not do you, your family or your current job any good at all.  One helpful idea can be to include your whole family in your new business venture. It is a home-based business, right?, so include everyone if it is feasible.  If your family is also somewhat invested in what they are doing, your business can really sprout wings and fly.  If you have young children, having them help in some aspect of the business process can help them to learn good work ethics and the value of money.

Be sure to also take at least one day off for yourself.  No matter how much your new business idea may be burning a hole in your mind, you need to give both your mind and your body a rest.  Get away from your home based business venture for at least a day.  By getting away from it, you will return to it with a clearer perspective and possibly discover on opportunity or solution to a problem you had not seen before.   Taking that day off is like taking a mental health day.  Every human body needs to take a break.  Do something fun with the family, or just go out and do something that you really, really enjoy.

When you are balancing your regular J.O.B. with your new business, set a schedule for yourself.  You have a schedule set for your job, so why not do the same thing for your home business?  This way, when you are clear about what needs to be done, you will reduce the tendency to do too much in one day, and you will reduce the chance of burn-out.  As you set the schedule, be sure your priorities are well-defined.  Remember there will always be another crisis to solve.

If you are looking for second income opportunities, please check out our website.  We may have something that will work well with your current lifestyle.   We will always encourage questions and suggestions.

Until next week…





Implementing Your Business Plan

5 07 2010

Last week we continued talking about turning your Business Plan into an Action Plan.  I had identified that you need more than one plan before you actually go into business, because there is a high likelihood that your first plan will not go exactly as anticipated.  This week we are continuing the discussion on implementing your business plan

Implementing your Business Plan is critical to a strong, successful start to a new home-based business.  Why would you want to take the time to write-up a Business Plan if you had no intention of following it?  Your Business Plan is your initial map for growing your business.  It is always important to refer to your Business Plan, but you should include in your Business plan several alternate plans.  I am often reminded of the shortened quote from a poem by Robert Burns, “the best laid plans of mice and men often go awry”, and that does seem to be very much the truth when working your own business. 

With all of that in mind, Steve and I developed a back-up Business Plan, and a back-up to the backup plan.  By the time I had submitted my resignation to my “regular” job, we had what we believed many of the bases covered.  Then it all boiled down to scheduling the events, being realistic about which events would be good, and then proceeding to the events.   

In the beginning, we started events with a 10×10 booth space and one table.  As we participated in rallies, we started playing around with our displays so that they became more eye-catching and interesting for people to stop by and look at.  In a rally or really any event, you have to be able to catch a person’s imagination very quickly as they walk by.  If your display is a basic table with some product on top, what is going to cause the potential customer to stop and look at what you have to offer?  This is where marketing really comes into play, which is part of your Business Plan. 

At the various rallies that first year, we kept requesting people’s opinion about our booth and asking them what they were interested in.  The key to successfully growing your business is to identify what your potential customer wants, not what you want to offer your customer.  You have to very quickly let your customer know that you can help them with a particular problem that they are wrestling with.  You do not want them thinking that you are going to force them to purchase the latest and greatest gadget that they will never use.

We did make many mistakes in setting up the displays for the first few months.  We had not gone into detail in the Business Plan what a good display would entail.  Steve and I had different ways to approach customers.  Again, we did not originally include that in our Business Plan.   In the beginning, I had more problems talking with potential customers because I was shy (you wouldn’t know that now, but in the beginning I was terrified to talk to potential customers).  I understood what the products could do to help people, but I was unsure and uncomfortable in effectively presenting that information to the customer.  I stumbled over my tongue a bunch of times.  Initially, Steve had to poke me often to make me talk to people, I was so nervous.  I quickly learned to listen to what customers wanted instead of telling them what I thought they wanted.  After that, it was much easier for me to talk to complete strangers.  I was no longer making a sales pitch, I was offering a solution to a customer’s problem.

We kept referring to our Business Plan before and after each rally, comparing what we had anticipated to what actually occurred and we adjusted the Business Plan accordingly.  By the end of the year, our Business Plan had changed, but we remained successful and continued growing our new business. 

Next week we will talk about what happens when you lose sight of your business plan while working your business…

If you are interested  in starting your own business, please feel free to visit our website at www.hawgwash.net.  We may have a business opportunity that would fit your lifestyle.

Until next week…





Business Success and Work Ethics – Part 2

24 05 2010

Last week we continued our discussion on how to make a business successful by exploring what a strong work ethic means and some aspects of a strong work ethic.  This week we are going to continue talking about what a strong work ethic can do for your business and how family and high moral values fit into a successful business plan

Some more solid work ethics will include the ability to continue when people keep declining your products or services.  Just because you are told “no, thanks” today, doesn’t mean that you won’t find that person who wants to purchase everything you have tomorrow.  Car dealerships don’t sell cars to every person that comes onto their lot.  If you had researched the business opportunity, you should already know that people are interested in the product or service you are offering.  It is just a matter of time before you tap into those customers. 

Another part of work ethics include consistency and reliability.  If you are not consistent with your behaviors, then your potential customers are not going to be trusting that you will do what you say.  Consistency requires that you follow through on what you agree to do.  By developing consistency, your potential customers will know what you are going to do and when you are going to do it.  Sometimes you may not think consistency is good, but if you turned the tables, wouldn’t you like to do business with someone who you know will do what they say they are going to do? 

Going hand in hand with consistency is reliability.  You need to be reliable in order to stay in business.  Again, if you say you are going to do something, you need to follow through on it.  If there comes a time that you cannot follow through on what you promise, you need to immediately contact the customer to let them know.  They will begin to trust you because you are reliable and consistent.  Your customers will learn to rely on you to get whatever work needs to be done or to deliver a particular product.  They will know that you consistently come through and they can rely on you to let them know if a problem may develop.

Developing consistency and reliability with customers takes time and a lot of work.  You do not gain the trust of customers overnight, largely because they have been disappointed so many times in the past with other vendors.  You may be amazed at how many business owners are not consistent or reliable.  Once a customer discovers that you have traits that many other businesses lack, you will most likely have a customer for life. 

Lastly, a good work ethic will include you treating your customers with respect.  You will respect their wishes, will listen to what they want, make sure you provide them with what they need and overall, treat them as people, not just as a means of making money.  Customers will recognize very quickly that you respect them and that will allow them to feel more comfortable making purchases with you.  They will trust that you will not sell them something they don’t truly need.

Family also plays very heavily into your business success.  If you start a business in order to earn a second income, or to become financially free, you may not be as successful as you would like if you do not have the support of your family.  Especially in the beginning of a business enterprise, since it will take up a lot of your free time, your family has to also be supportive of the business opportunity.  They need to understand that your time will be taken up now, but in the long run, you will have more time to dedicate to your family.  If you do not balance your business with your family, most likely both will not do well.  Your business may succeed for a time, but if your family is pressuring you to do something else, you may find either your business suffering from lack of attention, or your family will suffer.  Before you decide on a business opportunity, be sure that your family understands the sacrifices that may need to be made on a short-term basis and perhaps discuss how the whole family can work together to help the business grow.

Your customers will also see that you balance your family values with your business and they too will appreciate that you are working to maintain harmony.  If your customers are family people also, they may be more inclined to utilize your products or services, because your values more closely match theirs. 

Next week we will briefly discuss how moral values can also help your business to succeed. 

If you are interested in starting up your own business and do not know which business opportunity may be right for you, please feel free to view our website for ideas.  We would love to help you find something that would suit your needs and desires.  If you have any questions, please feel free to e-mail us at Hawgwash1@yahoo.com.  

Until next week…





What is Recession Proof Income?

3 05 2010
Bills, Bills, Bills

Recession Proof Your Income

How many times have you heard the phrase, “recession proof your income“?  What do you need to do in order to “recession proof” your income?  Why do you need to do that, and lastly, how can you “recession proof” your income?  This week we will cover what it means to recession proof your income and the hows and whys to accomplish just that.

Let’s first start with the question, what is recession proofing your income?   In a recession, your income does not go as far as it used to.  In order to recession proof your income, you need to find a way to make your money worth more, so that you can purchase at least what you used to be able to purchase.  In today’s economy, the money you earn just doesn’t seem to go far enough anymore.  You may now have to choose between using the car for several errands or just staying home and making do because the cost of gas for the car is more than what you have this week.  You may also have to choose between going to a doctor for health reasons or being able to purchase groceries for your family. 

In a nutshell, in order to recession proof your income, you need to have multiple income streams.  One of the most obvious ways to have more money is to get a second job.  In today’s economy, that can be a difficult thing to do, there are more people looking for jobs than there are jobs to work.  Another problem is obviously time.  If you are working more than a 40 hour work week in your main job, where are you going to find the time to get a second, or third job?  If you get that additional job, you lose that precious time with your family. 

Working a second or third job is not a good use of your resources.  You need to find something to leverage the income you currently have and make it work for you, not you working for your money.   If you have enough discretionary income, you may want to consider investing it in stocks and bonds (which can be risky), or investing in other business opportunities (being a partner in another company).  The object here is to not spend more time away from your family.  If you do not have a lot of discretionary income, you may want to look into business opportunities that offer “passive income“.

Passive income is income that you earn without additional hours spent by you working.  Passive income is money coming in that you do not have to lift a finger to earn, except to put it in the bank, or can be defined as an income received on a regular basis, with little effort required to maintain it.  The key is to find a business opportunity that fits with your lifestyle that will generate passive income and help you to recession proof your income.  One way to begin earning passive income is to get involved in some form of direct selling plan. 

Direct selling works best when time are bad because the number of sales representatives increase in the field.  There tends to be high gross margins, low-cost of entry (you don’t have to spend a lot of money to get started), a very divers amount of products and services to get involved in and huge room for growth.  According to a report from MSNBC Mad Money, direct sales is a recession proof industry.  In the attached video, Jim Cramer talks about why direct sales is recession proof.  He states that the top 15 direct sales companies comprise approximately half of the direct sales market.  He also goes on to state that many direct sales companies have access to the Global Market, not just the continental United States.  Access to a global market without having to spend a lot of your own hard-earned money is a very great way to begin earning additional income without going out to a second or third job.

Hawgwash, LLC offers several types of business opportunities that can earn you the additional income you are looking for.   One of our newest, and strongest opportunities today is in STEMTech.  STEMTech offers nutritional products that enhance the natural release of adult stem cells into your own body.  Their flagship product, StemEnhance, provides the natural stem cell nutrition for your body to release approximately 25% of  it’s own adult stem cells from your own bone marrow into your blood stream.  By having more of your own adult stem cells circulating in your body, those stem cells will assist your body to rejuvenate and repair itself.  The other advantage of the company STEMTech is that they are already international.  You do not need to purchase the rights to sell these nutritional products in other countries.  Currently STEMTech is sold in 14 countries and is continuing to work on opening additional markets. 

If you would like more information on STEMTech and the business opportunities they have to offer, you can view the video, or, you can e-mail us at hawgwash1@yahoo.com.  If you have questions about other income opportunities that we have to offer, please feel free to contact us through hawgwash1@yahoo.com

Until next week…





Risk Taking in Business Opportunitites

23 01 2010

This week’s topic is risk taking in business opportunities.  This should not be as scary a topic as it may sound.  Anything you do that you haven’t done before is risk taking.  Starting a new business opportunity is definitely taking a risk, but there are ways to mitigate these risks. 

“Taking a new step, uttering a new word, is what people fear most.” – Fyodor Dostoevsky

As we have discussed before, risk taking is necessary in life, but there must be ways to control or manage these risks.  Once you find a business opportunity you are interested in, you need to evaluate that particular opportunity before fully commiting to it.  The evaluation should include how much information can you obtain regarding the proposed opportunity.  Before getting involved in a new business, you should strive to gather as much information about that business as you can.  Ask your colleagues, ask other experts in the field that you are researching and lastly ask your friends and family.

You don’t want to necessarily depend on your family to guide you in the right direction, or support your decision to start a new business.  It is good to get their advice, but keep in mind that they may be very risk averse and be afraid of any type of failure.  To overcome that type of fear, you need to gather as much knowledge as you reasonably can.  Once you have gathered enough information you are in a better position to evaluate the risk.  What is the best that could happen if you get involved?  What is the worst that could happen?  And lastly, what do you think will happen? 

There is a lot of fear when starting up a new business also.  This could be due to fear of failure and fear of embarrassment in front of the people you really care about.  Again, if you have done your homework on the business opportunity, you will have determined somewhat the risk of failure of the particular business venture.  If you never overcome the fear of failure, it is most likely that you are currently doing nothing more than the sheer basic job and are being paid appropriately.  If you want to grow and succeed, you need to take some risks and overcome your fear of failure.  By being afraid to fail, you will never go out on a limb and find out that you can succeed. 

If you do fail at a particular opportunity, that does not mean to stop looking for new opportunities.  What failure could mean is that you need to look at what you did, what risks you took, what you could have done differently, and learn from any mistakes that you made.  Again, starting a new business opportunity is almost like learning to ride a bicycle. 

When you first start learning to ride a bicycle, you put training wheels on (equivalent to researching and increasing your knowledge).  Once you understand the basics of balance, then you take the training wheels off and try to ride (getting involved in the business).  There will be times that you fall down (perhaps one business opportunity fails…) but after falling down a few times you eventually learn to ride the bicycle without falling down (a successful business).  If you didn’t take the risk of riding the bicycle, you would never discover that you can not only ride the bicycle, but you may really enjoy riding the bicycle.  Your own personal business opportunity can be as much fun as successfully riding a bicycle.

We will continue this discussion next week…





Second Income Opportunity – Advertising

7 11 2009

As I have talked about in my other postings, advertising is extremely important in business.  If you have started a business for earning a second income, you need to let people know that you are in business.  We have talked about word-of-mouth advertising, newspaper advertising, doing local shows and events, handing out flyers, etc.  Today I am going to discuss on-line advertising, focusing on one company in particular that can pay you to advertise your business.

On-line advertising can get expensive, depending on what you do and how you do it.  There are ads that include pay-per-click, on-line yellow pages, Google Ad Words and paying for increased rankings on the search engines. 

All of these options cost some kind of money and hopefully the sales you make will off-set the money spent advertising.  The pay-per-click have budget limits which you set, which can be good, unless you get someone who just goes crazy clicking on your ad and using up your spending budget for that particular time period.  Even getting the pay-per-click, you are not guaranteed that someone will purchase from you. 

We have discovered another option within internet advertising.  This company is called AdZoneSavings and can actually pay you to advertise your business.  That is a completely different approach.  Every good business person is always looking for ways to recession proof their business and for that additional income stream to integrate seamlessly into their existing business.  These same business people are expecting a decent response from their advertising and increasing their return on investment.  With AdZoneSavings, you get your advertising, and if you get other businesses to advertise, your business will get money. 

The neat thing about this system, is that you don’t have to go out and really push this new income opportunity.  People are going to see your ad, and ask what you have done to get involved in it.  As people sign up to advertise, you have the potential to have your monthly advertising paid for, and even make money.  There is no contract to sign with AdZoneSavings and there is no set period of time that you have to run your ad. 

Each month that you advertise with AdZoneSavings you receive a Full Color ad in their network of advertisers, 500 Full Color Flyers (5.5 x 8.5), enrollment as an independent representative, an on-line virtual office to monitor your business and your own website to market your AdZone business. 

The advertising for the Network of Advertisers is done by sending thousands of e-mails to prospects and subscribers monthly.  The e-mails are purchased from vendor lists that sell double opt-in subscribers and e-mails provided by all of the advertisers in the Network.  The e-mailing occurs twice a month, on the first and the 15th of each month.  Since November 2009 is the first launch, the initial e-mail blast will go out on November 10th, and the next mailing will be November 23rd. 

The flexibility provided by AdZone is better than other sites I have seen, the ads are crisp and clean and your site information is well placed.  You also have the ability to change your ad monthly and get revised flyers monthly.  If you are interested in more information on this income opportunity, please feel free to contact us at hawgwash1@yahoo.com or check out our website, www.hawgwash.net or www.AdZoneSavings.com/Hawgwash.