The Key to Building a Successful Home-Based Business – Develop an Entrepreneurial Mindset

A successful home-based business is something that many people dream about. With it, they can establish their own work schedule, be their own boss, and save thousands of dollars a year on commuting and other work expenses – not to mention avoiding all that traffic! But the problem these people commonly run into is that they lack the entrepreneurial mindset required to move forward with their business in spite of challenges. They give up when things go sour and they become upset when they fail to generate the kind of income they expected to right away. That’s a natural reaction, but the entrepreneurial mindset requires a reaction of a different sort – and it can significantly alter the outcome of your home-based business.

Entrepreneurs who are successful find that they don’t see problems as insurmountable difficulties. Instead, they see problems as opportunities to be fleshed out and challenges to meet and conquer. They like to think outside the box and to devise new and creative ways to overcome adversity. A successful home-based business is operated by someone who can implement these strategies – someone with an entrepreneurial mindset. When an entrepreneur encounters something that is not going his or her way, giving up is never an option. Changing course is possible, but only out of necessity after considering all the alternatives. According to the entrepreneurial mindset, no decisions are made out of fear, anxiety, or misplaced passion. An entrepreneurial mindset is a positive mindset; it emanates success thinking, and thus it attracts success in the greater world.

If you want to run a successful home-based business, developing an entrepreneurial mindset is crucial. Fortunately, you can train yourself to do this; i.e., it doesn’t have to be an innate characteristic of your personality. You simply need to commit to its development and promise yourself that you’ll never give up, as it won’t happen overnight. For any entrepreneur who is running a successful home-based business, you can be sure that it took time and patience to get there and that the journey was fraught with trial and error. The entrepreneurial mindset won’t make you immune to challenges, but it will show you how to turn these challenges into short-cuts to success.

Generally speaking, the entrepreneurial spirit comes in two different flavors-DIY and KISS. DIY of course stands for Do-It-Yourself, and refers to the entrepreneurial mindset that would rather build everything from scratch. If you do this successfully-think Bill Gates or Steven Jobs here-you can make a massive fortune. The sad reality is however that not everyone has the same drive to succeed as Gates or Jobs. (We all have the same potential for greatness-some of us just don’t use it as effectively as those guys did.)

The KISS approach (for Keep It Simple, Stupid) is generally much more appropriate for those of us who don’t want to reinvent the wheel while trying to launch a successful home-based business. With the KISS approach anyone with an entrepreneurial mindset can look for and find a veritable business in a box that provides a turnkey solution for a successful home-based business startup. Either approach can work-the key is to find the one that works for you.

Coaches And Consultants – Are You Making Any Of These Twenty Business Development Blunders?

Professionals who market their services can attract more clients by avoiding the following deadly business development mistakes:

ERROR #1: Talking about specialized knowledge more than about solutions.

ALTERNATIVE: Speak your client’s language. Show him or her how you will get specific results that will help their organization, career, or personal aspirations. Demonstrate your ability to provide significant value, in specific, measurable ways.

ERROR #2: Focusing on you instead of on the prospect.

Prospects care first and foremost about solving their problems and taking advantage of their opportunities. Therefore, they only care about you if your experience and knowledge directly and uniquely relates to solving their problem.

ALTERNATIVE: Focus on the prospect’s problems and opportunities. Build credibility and demonstrate value by establishing yourself as the expert who understands the prospect’s situation and ways to get results. Make sure you use the word “You” at least twice as much as you use the words “I/We” when you speak to prospects.

ERROR #3: Letting your achievements or expertise speak for itself.

This is a huge mistake. You may be brilliant, but that doesn’t mean clients will come to you.

ALTERNATIVE: Invest in business development. Reach out to prospects in ways that builds your credibility. For instance, provide education and information that matters to them, and also shows the value you offer.

ERROR #4: Not choosing a specific niche or target market.

This will give you the false security of having unlimited prospects, but ultimately will get you fewer clients at higher cost than if you focus.

ALTERNATIVE: Focus on a specific target market.

ERROR #5: Not reaching your target market effectively.

ALTERNATIVE: Develop a series of messages and strategies that reaches and attracts prospects from your target market.

ERROR #6: Not dominating your target market.

If you don’t dominate, someone else will, and your revenue will suffer.

ALTERNATIVE: Position yourself as the leader by establishing your credibility and authority with prospects. If you can’t be the leader, find or define a new niche.

ERROR #7: Creating an incomplete or non-compelling marketing message.

With a poor message, your business development efforts will go nowhere.

ALTERNATIVE: Develop a complete, compelling marketing message that describes the problem you solve for your market, how you solve it, the specific results you have achieved, and why you are better than anybody else. Be especially sure to highlight your “edge” and why it matters to your prospects/clients.

ERROR #8: Trying to “close the sale” too soon.

Most prospects, especially in the market for professional services, need a series of positive interactions with a candidate before making a decision.

ALTERNATIVE: Provide a series of educational messages to establish credibility and attract qualified prospects to you. Get rid of the tacky “sales pitch,” and follow up with prospects in ways that demonstrate your value. This will establish you as the authority in your field, lead to more sole source deals, and earn loyal clients.

ERROR #9: Making poor use of publicity.

Getting mentioned in the news is an exercise in vanity if it doesn’t grow your company.

ALTERNATIVE: Use publicity to attract prospects to your business, capture their information, and build a relationship with them.

ERROR #10: Not asking for referrals.

Few professionals take full advantage of their opportunity to generate referrals.

ALTERNATIVE: Ask for referrals at key times in the client relationship. Develop proactive referral strategies within your sphere of influence.

ERROR #11: Relying too much on referrals.

Referrals are a fine source of additional business, but they put you in the position of being dependent on others.

ALTERNATIVE: Make sure your marketing strategy includes tactics to attract requests and inquiries directly from prospects, clients and your sphere of influence.

ERROR #12: Competing on price.

This error is a sure way to lack enough high-paying clients to meet your financial goals.

ALTERNATIVE: When prospects perceive you to be the authority in the field, you no longer need to compete on price.

ERROR #13: Forgetting to stay in touch with past clients.

Remember the old adage, “Out of site, out of mind.” You forfeit one of the best sources of profitable work if you forget to stay in touch with, and continue to support, past clients.

ALTERNATIVE: Develop a plan to strengthen your relationships with past clients, maintain their loyalty, and continue to show how you can provide them with ongoing value.

ERROR #14: Providing poor or mediocre service during engagements.

Word spreads fast when you do this, and can quickly destroy your reputation.

ALTERNATIVE: Develop a system to delight clients on every engagement.

ERROR #15: Cutting or delaying your investment in business development, especially in bad times.

This error will only hurt your bottom line more.

ALTERNATIVE: Commit to investing in business development. There are plenty of low-cost ways to attract clients in good times and bad.

ERROR #16: Not creating a simple, clear business development plan that lays out goals and a way to achieve them.

If you don’t set goals, how will you know if you are successful?

ALTERNATIVE: Create a plan every quarter that sets aggressive goals and lays out a path to accomplish them.

ERROR #17: Creating a business development plan that misses some crucial steps in the process of attracting and retaining clients.

Your plan must establish yourself as a credible authority, demonstrate your value to prospects, earn trust and commitment, and keep your clients’ loyalty.

ALTERNATIVE: Evaluate how well your business development plan achieves these outcomes, and revise it accordingly.

ERROR #18: Not taking action on your business development plan.

ALTERNATIVE: Make business development a top priority. Budget time as if you were your own client. One of your primary jobs is business development because if you don’t do that, you won’t be doing much consulting.

ERROR #19: Relegating marketing to an administrative role.

ALTERNATIVE: Marketing should be a core part of your strategy, and handled at the top levels of your organization.

ERROR #20: Not getting help.

Many professionals tend to want to do it all on their own. In business development, this can cause them to repeat common marketing mistakes and get poor results.

ALTERNATIVE: Hire competent professionals who can help you build your business. The investment will more than return itself in results.

I sincerely hope you don’t make these, or other costly mistakes. The market is extremely competitive, filled with professionals who are struggling to attract clients.

Sign Business Develops Entrepreneurs in the Computer-Aided Signmaking Industry

Sign Biz, Inc. was founded in 1989 by Teresa Young who established the business during a time when sign companies were neither retail-oriented nor computer-driven operations. Young, who anticipated the industry shift to B-to-B visual communications, opened the retail sign store concentrating on vinyl graphics and watched the industry grow into a broad advertising medium driven by computer-aided signmaking (CAS) able to offer unlimited design options for all size businesses.

By leveraging the latest technology, the CAS industry continues to grow at a rate of approximately 13% each year with companies becoming increasingly able to fulfill even the largest sign orders, including those for Fortune 500 companies. “This is a huge industry that affords almost limitless niche development – from wall murals and vehicle wraps, to gorgeous 3-dimensional branding elements and lobby video signs. Nearly everyone can find a specialty that is thrilling and profitable,” explained Young.

Today, Sign Biz has grown into the largest non-franchised retail sign chain with a network of nearly 200 store owners and is the only full-service business development company in the industry that requires no franchise fees or royalties from its store owners unlike its franchise counterparts.

According to Sign Biz, Inc. VP of Business Development, Greg Salzano, the company’s business development program provides complete training, equipment and support with an “evergreen” agreement for the life of the business. “Our non-royalty program, when combined with the lifetime of support, personalized training and comprehensive equipment package truly allows Sign Biz Network Members to be an entrepreneur, yet have the support structure available as they need it,” said Salzano.

Young believes that good prospects for joining the Sign Biz network are entrepreneurs willing to apply the company’s business model, and who also possess a positive outlook when trying new things. “We guide every new business owner through their first hire, their store design, their logo and branding elements. It is a partnership, so we look for those who want a strong partnership experience in a dynamic industry,” said Young.

“We believe Sign Biz will continue to be on cutting edge when it comes to new offerings in the signage industry. We were the first sign chain to add Large Format Digital Print equipment into our package in the 1990’s, as well as the first to add Electronic Digital Signage in 2007. Our Network will continue to grow via both new shops and new technology in a market that is nowhere near saturation,” said Salzano.

According to Salzano, new Sign Biz Network Members can be up and running within 75 to 120 days including a 30-day training period.

For more information: http://www.franchisegator.com/Sign-Biz-opportunity/

Residual Income Business Opportunity – Product Development

Launching your product with positive impact and giving your residual income business the best chance of successfully making money online relies upon you having spent enough time researching your target market properly.

It is a mistake that internet marketers and any other online residual income business owners make, to fling themselves headlong into creating a website, taking the time and trouble to set up squeeze pages (lead capture pages) and sales pages without first establishing that the products they intend to sell have enough demand on the internet.

There are two common mistakes made.

First of all, not finding out if the size of the market online is big enough to sustain your sales targets. And by that I mean checking out keyword research tools to find out exactly how many active daily searches are being made for the products in question.

And second of all, (which is a bigger problem) advertising products on the internet that are in demand but the competition is so great that it is virtually impossible for the new start business to get their wares in front of their potential customers.

That is why the savvy online marketer really gets to grips with niche marketing. Understanding that a product can satisfy lots of niche markets and as a consequence each niche market should be tackled differently to the rest.

Let me give you an example of how this may work.

Let’s say you were trying to sell rechargeable batteries. If you simply advertised your rechargeable batteries on the net you would be competing with a massive number of sellers out there, in fact probably too many to make a real impact.

However, if you were to niche your products into tailoring them for specific markets for example Samsung digital cameras, Kodak hand held video recorders, Petzl head torches, Gillette nose hair trimmers, you get the idea!

If you chose say 50 niche markets you would be reducing your competition massively, satisfying a much more targeted need and therefore be much more relevant to your target audience as well as finding it much easier to get your offer in front of them.

Therefore, niche marketing is fundamentally important if you want to be successful marketing and selling your products online.The question is how do you achieve that in the best way that will keep you ahead of your competition?