A Home Business Mentor Can Help You Earn Big Bucks

Written by Ian Canaway


A Home Business Mentor Can Help You Earn Big Bucks Copyright © Ian Canaway

A mentor does not buy, sell or negotiate. A mentor provides a service. In essence, mentoring is simply helping someone else play their cards right and become successful in their home business or other endeavour.

Thus defined, mentoring has been a business practice for a long time. Recent estimates indicate that a large majority of successful people have used a mentor as a standard business practice. Mentors choose to help others reach their goals for various reasons,repparttar most common reason being to gain support and help for their own projects and from a true desire to assist others. After all, what good is information if you don't share it with someone who needs a mentor?

Many mentors help a peer or friend move uprepparttar 116446 ladder in order to achieve personal satisfaction and develop friendships. Also, you've probably experienced a friend saying, "I helped you, and now I need help too..." Basically, being or having a mentor is an exchange of services and friendship.

One reason mentoring is popular, especially in today's economy, is that it provides free training that normally would be provided at special training classes costing a lot of money. Mentors willingly provide this service, as it is simplyrepparttar 116447 bottom line method of training with little or no cash. In times of little or no cash flow, mentoring is a highly desirable commodity, and mentoring is becoming even more widespread. Mentoring offers a way to hold onto cash while continuing to get advice and training.

In addition to saving costs, mentoring can improve cash flow and liquidity by avoidingrepparttar 116448 high cost of formal training. For anyone who is starting up a home business, this is vitally important. Forrepparttar 116449 individual who is lucky enough to have a mentor, it makes it possible to save existing funds for those purchases where cash is necessary.

Will your home business succeed or fail?

Written by Ian Canaway


Will your home business succeed or fail? Copyright © Ian Canaway

You may operate a home business selling services or products, but no matter which kind of business you're in, there's always a question inrepparttar back of your mind: will my home business succeed or fail, or do I haverepparttar 116445 motivation it takes to keep it afloat? Whichever type of home business you have, it's important that you know ways that you can keep your business going during slack times and/or economic downturns. If cash flow is a problem in your business, you should be sure to make certain that your money management techniques are on target and well refined.

Some ofrepparttar 116446 things you can do to make sure your business will survive inrepparttar 116447 21st century is to avoid impulse expenditures. There are many reasons for impulse spending, even as it applies to business. We may fall underrepparttar 116448 persuasive spell of a salesperson who has talked us into buying things we don't need. Maybe we simply made impulsive purchases because we had a little extra money, or perhaps to keep uprepparttar 116449 appearance of prosperity. Then you realize a few days later that you've committed some of your business funds to products or services that are not necessary forrepparttar 116450 success of your business.

"It is not because things are difficult that we do not dare, it is because we do not dare that they are difficult". -- Seneca

Here are some tips to help you avoid these impulse purchases and make certain your business succeeds:

1. You can help control impulse purchases by requiring two (or more) signatures on all company checks over a set amount. This will give you time to seriously consider whether or not you really needrepparttar 116451 product or service you are about to buy.

2. If you are vulnerable, you can get yourself out ofrepparttar 116452 grasp of an insistent salesperson if you explain that all purchasing decisions are contingent uponrepparttar 116453 approval of a second party. This so-called second party can be anyone - a partner or a department head or even a family member.

3. If you arerepparttar 116454 sole owner of your business, you won't need to worry about these impulse spending patterns because you normally have three days to cancel your purchase if you decide you don't need it or that you can't afford to spendrepparttar 116455 money. However, be sure that you don't skimp on services or products that you really need.

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