The Seven Secrets of a Successful Home BusinessWritten by Kim Beardsmore
Work from home. These days it seems as though everyone is talking about these three words. If you don't understand critical factors that make a home business successful - you will fail to find a business that has potential of delivering you amazing results. So, when you are looking for a home based business that is truly going to deliver you additional income, or better still, replace your job income, you had better know exactly what you should be looking for. If this sounds familiar to you, it's not surprising. A recent 1997 study indicated that more and more people are working from home, and of those people over 50% are self-employed in their own home business. This compares with 11% of non-home workers and 36% of mixed workers. This is a growing trend and a lucrative one. So if you're thinking of starting a work from home business, what are important factors to look for? Read on to discover questions you need to ask to discover a home based business that has potential to provide you with a vehicle for tremendous financial success. Success Factor 1 - Is market expanding? Whatever business you choose, you must tap into a huge, expanding market. Do you want to put all your energies into a market that is shrinking? The business will need to be one that can serve needs and wants of potentially millions of people from a wide variety of demographics. Remember when video industry took off in seventies? I personally was amazed to see some friends of mine make a small fortune in a couple of years...but now they are back in job market. For a short while video industry was expanding, but that was it. You want to find a market that is growing and can't be replaced readily by other products and services. So if you want your work at home business to have longevity then you had better look for one in a market that is expanding and has a huge potential for further growth. Some of expanding markets and growth potential industries are: · Work from home · E-Commerce · Mail order marketing · Health · Nutrition · Weight control · Personal care · Cosmetics You will notice that these are new industries or industries that are being ‘renewed' through development and application of new technologies and science. Don't just limit yourself to looking at a work at home business opportunity within one single market. It is possible to find home based businesses that touch several of these markets listed. Success Factor 2 - Is there a market trend in your direction? Not only should market be huge and expanding, you should also look at just how far that market has to grow. This is where market trends are important because you will want to identify huge shifts in consumer spending. Not only is market growing, but better still, people are diverting spending away from other products and services in preference to yours! Market trends occur when massive volumes of people's spending habits are all moving in a similar direction. This may seem like something average person cannot readily see for themselves, but fortunately, you don't have to have a degree in economics to get a good idea of spotting a potential a market trend. Economics has often been described as a study in human behavior. Human beings tend to behave in patterns and we have benefit of hindsight in showing us some absolutely key patterns of economic behavior. We can learn a lot about market trends by studying buying habits of single, largest identifiable consumer group in last fifty years - Baby Boomers. Baby Boomers are generation born in post world war two in years approximately between 1946 and 1964. This group represents largest consumer group in last five decades! The Baby Boomers have created several market trends including: · 1940-1950Explosion of baby food industry · 1960s Explosion in educational institutions · 1970-1980Explosion in real estate industry You can see that above industries grew as a result of Baby Boomer generation needing normal, everyday items required for life. This Baby Boom generation is now around 50 years old, so what are they wanting today? Here's what they are looking for. · To have more money and financial security · To have better health · To assure a good retirement · Home business opportunities - corporate burnout · To look and feel younger · To have more time freedom or time flexibility To find a home based business that satisfies an emerging need or want of Baby Boomers is to find a business that has an increasing likelihood of being in an industry that has some significant future. Success Factor 3 - Is product one that people will use often? You will also need to look for a consumable product or service that is replaced regularly. Preferably, it should be one that people can't get anywhere else. This will be type of product that will generate repeat business and create a steady flow of income. Look at power of consumable products. Every time you switch on light, someone somewhere makes money. Every time you clean your teeth, shampoo your hair, shave, someone makes money. Look for a product that people can fall in love with and want over and over and over....and can't purchase readily through another distribution channel. People fall in love with products and services that save them time, or deliver a solution to a recurring problem. The product should also represent value for money to consumer. Success Factor 4 - How is Product/Service Delivered to Customer? Whatever product or service your home based business provides, if you personally have to physically deliver those products/services to your customers, you are choosing to significantly limit your income potential out of that business. Here's what happens if you are personally required to physically deliver product or service. Your business is consigned to be purely local. You can't operate effectively in global marketplace through Internet.
| | How to grow your mental power and let your brain make your rich.Written by Fernando Soave
How to grow your mental power and let your brain make your rich. ********************************************************************************* By Fernando Soave Copyright © 2003No one has complete control over their thoughts. But with practice, with deliberate attention, far more control can be achieved. Here are five rules that show you how. 1.Practice thinking to develop mental thrust. Thinking is work. To develop your thinking process you must put mind through exercises which lead it down new paths. 2.Add width to your thinking. Narrow minded people have these characteristics. All negative. a.They see only a small part of problems. b.They are exceptionally prejudiced. They can hate intensely. c.They are intellectually blind. They learn no wisdom as they mature. To think wide remember : a.Be careful of generalising with “all white and black” approach. b.Avoid sentences like, “He’s no good”, “I hate”, “They are stupid”. c.Think two sides before you make your point. Nothing is all good and nothing is all bad. d.Don’t be to fast with your opinions. 3.Think like a crew member not like a passenger. Assume your responsibility for what happens.
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