Myths Regarding Online Home Based Businesses

Written by Kirk Bannerman

Continued from page 1

It always amazes me how frequently people that start an online home based business actually believe that they can get rich by doing absolutely nothing, or at least with very little effort. These are otherwise intelligent people. Why would they believe this? My conclusion is that they believe because they want to believe. They believe because they see claims to this effect everyday and everywhere onrepparttar Internet. They are told that it is possible. They not only want to believe it, for their own reasons, but they need to believe it.

In my opinion, you need to give yourself at least a year to make an online business get some traction and start to generate some meaningful income. The proper mindset is to think long term, not instant gratification. I am always surprised atrepparttar 148158 number of people who drop out of their online home based business afterrepparttar 148159 first month or two. I ask myself, what do they expect, miracles? You probably wouldn't bail out of offline business after a month so why would you expect an online business to be any different?

Aside fromrepparttar 148160 fallacy of instant riches without any effort, repparttar 148161 expectation of a free ride is a frequent misconception of many that think they want to start an online home based business. If you're afraid, or unwilling, to invest a little money to start your own are not looking at a home based are looking at a work at home job. If you want to make money online, you must also be willing to invest in yourself. It's as plain and simple as that.

Kirk Bannerman operates his own successful home based business and also coaches others seeking to start their own home based business. For more information visit his website at Proven Work At Home Business

How to Start A Profitable Home-Based Business

Written by Jay Harris

Continued from page 1

Detail your start-up investment needs Have an advertising plan Show production costs Outline your business procedures Note your sales program List how your time will be allocated.

Too often, enthusiastic and ambitious entrepreneurs jump in on an extra income project and suddenly find thatrepparttar costs are beyond their abilities andrepparttar 148157 time requirements are more than they can meet. It pays to lay it all out on paper before you get involved, andrepparttar 148158 clearer you can "see" everything before you start,repparttar 148159 better your chances for success.

The Secret is...

Now, assuming you've got your market targeted, you know who your customers are going to be and how you're going to reach them with your product or service. And you have all your costs as well as time requirements itemized. The next step is to set your plan in motion and start making money.

Here isrepparttar 148160 most important "secret" of all relating to starting and building a profitable home-based business, so read very carefully. Regardless of what kind of business you start, you must haverepparttar 148161 capital andrepparttar 148162 available time to sustain your business throughrepparttar 148163 first six months of operation. Specifically, you must not count on receiving or spending any money coming in from your business on yourself or for your bills during those first six months. Allrepparttar 148164 income from your business during those first six months should be reinvested in your business in order for it to grow and reach your planned first year potential.

Once you've passed that first six months milestone, you can set up a small monthly salary for yourself, and begin enjoyingrepparttar 148165 fruits of your labor. Butrepparttar 148166 first six months or operation for any business are critical, so do not plan to use any ofrepparttar 148167 money your business generates for yourself during that period.

The Enterprise Called YOU

If you've got your business plan properly organized, and have implementedrepparttar 148168 plan, you should atrepparttar 148169 end of your first year be able to begin thinking about hiring other people to alleviate some of your work-load. Remember this: Starting a successful business is not a means towards either a job for yourself or a way to keep busy. It should be regarded asrepparttar 148170 beginning of an enterprise that will grow and prosper, with you asrepparttar 148171 top dog. Eventually, you'll have other people doing allrepparttar 148172 work for you, even runningrepparttar 148173 entire operation, while you vacation inrepparttar 148174 Bahamas or Hawaii and collect or receive regular income from your initial efforts.

Article by Jay Harris of IMI Concepts. Visit his website

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