How many of us knew how to start a successful home business when we first got started? Wouldn’t you have just loved a how-to manual of dos and don’ts and an unlimited number of interested people to talk to? Instead, we heard a million successful home business ideas and didn’t know who to believe! That has been our experience, too.
When you do find some good counsel, the next trap is the dreaded “shiny object syndrome,” of which we are also guilty. You recognize that as seeing every new training, every new strategy, every new income stream possibility as something you must do. If you’re not careful, your successful home business has indeed become a very expensive hobby!
So, what are some considerations when we start a successful home business? We came up with the following 7 questions you should ask yourself. Take time to really consider your thoughtful responses!
You will note each question is not a once and done type question. Your answers today will be different than a month from now, a year from now. These are questions you should wrestle with regularly – probably one of many successful home business ideas you’ll glean from this article. You may set a goal today that you breeze through and conquer. Always keep your responses to these questions fresh and in view.
1. What Does a Successful Home Business Look Like to You?
You’ve heard it a million times at least, “What is your why?” That is, why are you wanting to start a successful home business in the first place? Do you have bills to pay, college tuition for your children, retirement funding?
We usually all get started because of some monetary goal. Money and success often go hand in hand. Maybe success to you is being able to stay at home with your children (or grandchildren). Maybe success is being able to travel the world without a concern for expense.
When we think about why we want a successful home business, we may come up with a quick response. Dig deeper. Why do you want that, what would that mean to you or your family? This is the same kind of thing you’ll want to explore with your prospects and eventual business partners. Why do they want it? Why is it important?
The answer to this question will be your inspiration. You can assess all business activities using this as your lens. Will a given activity get you closer to that goal? If yes – do it! If not, don’t bother. You don’t want to be distracted from your path to a successful home business.
2. What Are Your Limiting Beliefs?
We all have those false beliefs that hold us back. For example, we may feel we aren’t worthy or good enough to have success. Or, maybe we feel like we are past our prime and don’t deserve it. And one more, some people feel a need to be experts before they get started doing anything to move their business forward.
The path to achieve a successful home business is a journey. It doesn’t happen overnight. I’ve heard it said that along the way leaders will gain insights into their own strengths and weaknesses. If we discover areas of weakness, we can work to improve them.
The beauty of this industry is the focus on personal development. You can really attack your limiting beliefs once and for all using books, videos, and other resources. In that way, you will not allow yourself to be held back from the successful home business you deserve.
3. What Do You Stand For and Against?
When you start a successful home business you will market it in such a way that people know who you are. People will buy from people they know, like, and trust. It is your #1 priority to build relationships with people in a genuine manner.
Your audience needs to know who you are and what is important to you. They should see what you are and are not a fan of. People will be attracted to the qualities in you they are looking for.
It’s common to be told to avoid the touchy subjects like politics, religion, and sex, but sometimes those hot button issues are important to you. You know that not even human being on this planet is your target market, so if you are going to post something about a hot topic, you need to know that you will instantly repel a section of society. That’s okay. Those are people you probably didn’t want to work with anyway.
The marketing business becomes a sorting process. Who is interested and who is not. By being transparent in your beliefs and passions, you automatically weed out those not interested in you; then you only need to sort the rest.
4. Who Are Your Competitors? (They better be quaking in their boots!)
Unless you have a one-of-a-kind product, you will have competitors that can threaten your successful home business. It is good to know who your competition is, so you can be prepared. There is nothing worse than being blind-sided when you discover a product or service that rivals yours you were totally unaware of.
So, take time to research your competition. You can learn a lot from them. Where are they marketing? Who is the target market they are serving?
You may decide that your opportunity isn’t as good as you thought it was before you spend time, money and lots of effort trying to market it. You want to start a successful home business, not one that is going to fail because it doesn’t hold a candle to the competition.
The goal of knowing your competitors is to be able to exist in the marketplace with them. Find a way to co-exist, take a different target market, use different techniques or strategies to reach a different audience of the same target. Use your intel to your advantage. Don’t shy away from competition – take advantage of it!
5. What Distractions Need to Go?
This is a biggie for a lot of people that keeps them from a successful home business. Distractions can be anything from children running around screaming, to loud music playing, to knowing you have laundry in the dryer. I’m not suggesting you get rid of your children, but plan your work around them so that when you designate work hours your time is guarded.
That goes for any distraction. Think for a moment what has distracted you this week. Was it an illness, a ballgame, a visit from the in-laws? You know what it was for you. How did you navigate your work around that distraction?
Remember this is a business, not a hobby. You need to treat it like the successful home business you want it to be. When you go to your job, you go to work. Do you encounter the same distractions there? Why not? Because you have placed a serious focus on being present for your job.
Be present for your business to an even higher degree. Set timers, close doors, shut off the TV, whatever it takes to be laser focused to keep distractions at bay.
6. How Are You Tracking Your Growth?
This is one that may sound a little odd, but maybe the most important. For a successful home business, you need to be tracking your progress. If you’ve never done this before, start now.
To begin, take an accounting of the number of followers, friends, subscribers, etc. that you have on social media. Then, monitor your efforts of recruiting and prospecting. You should see these numbers grow.
You should also track your activities. How many people do you need to talk to before you get a sale? How many sales does it take to reach your income goal?
When you start tracking your activity, not only will you feel a sense of accomplishment as you watch the numbers grow, you will be able to see patterns in your work and efforts to make a successful home business. For example, you will find weaknesses that you can strengthen. You will find what strategies work and which do not. You will gain insights into your hidden patterns you didn’t know you had.
For instance, every business owner needs to track where you spend your money and the consequences of the spending. The same can be said for every relationship and interaction you have too.
There are so many things to think about when you start a successful home business. Way too often people fail because they ended up with a glorified hobby. Don’t let that happen to you. You have come this far.
As a final thought-provoking question, I’d like to ask:
7. How Could You Be More Productive with the Time You Devote to Your Home Business?
How different would your home business and lifestyle be if you were more productive? We recently watched a video about our own sponsor — formerly a 31 year old snowboard bum and frustrated employee, now a high six-figure earner. Access his 23 Tips for Becoming More Productive … and these are SOLID tips, not the same old stuff that you can see everywhere.
For instance, one tip he gives involves using a simple object that you have probably at arm’s length RIGHT NOW and can increase your productivity by 50% or more. Check it out HERE and you’ll be on YOUR way to becoming 300% more productive for your business and your life.
God's blessings to you!
David & Dana
P.S. – If Your Upline Hasn’t Given You A Clear Step-By-Step Blueprint For Generating Leads Online And Successfully Recruiting People On Social Media, This Will Help You – Click Here For Instant Access!
P.P.S. – If you know others who could profit from starting their own home business, share this article with them on Facebook. And, if you've found it helpful, please take a moment to like and comment as well!