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Taking Your Home Based Business Online - Avoid The typical pitfalls

Written by admin on Dec 4th, 2007 | Filed under: online business

One of the forums I frequent involves a variety of website owners who are networking and trying to help solve common online business problems. Regardless of which category I visit I see a couple of common problems being discussed: how to make their site more attractive and how to get more targeted visitors.

Each of them has a business idea that they are trying to birth online or already have a home based business that they feel is ready to grow online. In either case their are all stumped about which route to take that will bring them success. And therein lies the problem.

The problem I m referring to is actually several problems common to all of them. Everybody wants something for nothing i.e. free web hosting, free traffic, free templates, free this and free that. The list goes on and on. I wrote in a previous article that when you re trying to build a business it must be done in a serious manner. Your online business must be treated no different than a “brick and mortar” business. How many free essential resources could you really get when building a legitimate business? Free accounting? Free business loans? Free retail location? Free employees? You get the picture.

What I want to do is provide a simple outline for beginners that I believe will help address some of the mysteries and false expectations. First, most FREE items are not really worth your time and effort. If you insist on following this path then you probably should rethink your commitment.

Second, if a banker asked you for a business plan could you provide one? Would it clearly state the purpose of the business so everyone would understand what it is you are trying to provide to the public? Is it something that is in need? There is no sense in trying to sell a product or service for which there is no demand. Does your business plan indicate who your potential customers are? Have you determined how you plan to promote your business and how much you plan on spending and for how long? If you thought you could succeed online without considering all this then you re seriously wrong.

Third, who are your mentors? They should be carefully chosen and have a proven track record in your area of endeavor. You can actually find good ones in popular forums. During this process I strongly suggest you give it your due diligence. If they have a website or blog then look into it. Contact others who have been associated with your potential mentor and ask plenty of questions.

Fourth, how much time are you prepared to spend on your business. Most successful entrepreneurs burn the candle at both ends before they can actually quit their regular jobs and focus on thier new business. How many so-called successful online business owners do you know who only worked 8-10 hours per week to reach the pinnacle of thier field? This is one of the biggest misconceptions that I run into regarding home based businesses. Remember, there s a reason it s called a business. If you really want to reap the rewards of success with your business idea that it will take more effort then you think. Now that doesn t mean you can t take steps to work smarter and not harder. I m just saying that it will definitely take passion and commitment.

Fifth, what s your motivation? Can you visualize it. Are you prepared to move heaven and earth to reach your goal? Are you trying to transition into a new field because you anticipate some downsizing? Do you want your wife to stay home and raise the kids instead of putting them in daycare? Maybe you re trying to improve your nest egg and don t have a lot of time to do it in by just working your regular job. You must know why you re doing what you re doing. Otherwise when you encounter obstacles you ll easily get discouraged.

O.K., now that we re all in agreement and you re on fire and ready to dive into the home based business arena where do you start? Remember what I stated earlier? What is your motivation? Let s assume that you have kids about to enter college and you know that you won t be able to pay for them to get into a good college to get them the job opportunities that will provide them a secure future. You believe that with your current schedule and limited finances a home based online business is your best option.

Just take a moment and review the five points I just discussed with you above. Now take a few minutes and jot down some of the thoughts that come to mind. If you re married or have children then include them in this process. This is called brain storming. Out of this session will come some of the things you would have never considered. Out of that bunch of ideas is your ticket to a brighter future. If I ve re-ignited your fire or made you reconsider a potentially horrible business decision that I ve succeeded.

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