So You Want To Be Your Own Boss

Wouldn’t it be great to be able to quit your job, be your own boss and earn a pay cheque from the comfort of your own home? The good news is that with a little planning and some start-up money, it is possible! Here we’ll examine some important steps to follow when starting your own business.

I have been there and done that so take some advice from a pro.  you can make a great living, even an awesome, more money than you can imagine living, working from home but you have to clear the landmines first….

Do You Have What It Takes?

Not everyone is cut out for the challenge of starting their own business. There are several personality traits that are common among successful entrepreneurs, including discipline, frugality, self-confidence, good communication skills, humility, honesty and integrity, superb record-keeping skills, motivation, good health, optimism and more. For more on these characteristics, become a part of our community and learn to be a successful entrepreneur, especially if you choose to work on the internet.

Each morning at 11am EDT I offer a half  hour of emotional intelligence, motivation and inspiration for the aspiring entrepreneur.  Join me anytime for Seize Your Day!

Creating The Concept

Before you quit your job to become an entrepreneur, you must first think of a concept, product or service that will generate a steady stream of income. This may sound easy, but for most people, this is actually the hardest part. You should conceive a plan that puts your knowledge, experience and expertise to use in the most profitable way possible. Once you settle on an idea, research the marketplace to see how similar businesses have fared.

Smart Tip: Start with areas you already have a great deal of interest in, and equipment and materials for. This will help cut down start-up costs. many people are now choosing Internet marketing as what would seem to be the least expensive and less intimidating but you can find yourself in a bind in this vast frontier and lose a ton of money on false promises and flat-out lies. Read the Eight Lies of Home Business for more on this.

Make Sure You Have Support

If you’re married and/or have kids, you should also be asking your family how they feel about your working from home, as your decision will affect them both financially and psychologically. If the response is negative, spend time addressing any concerns and decide whether your goal is worth continuing against their wishes if you are unable to change their minds. Many people find this transition to be extremely difficult because for most of our working lives “at home” meant that you are accessible and available so, you have to define your “working hours” and your “free hours” so you can actually get work done at home. This is especially difficult for the “work at home” moms.

Develop A Work Space

If you are considering a home-based business, remember that your home’s primary function is to serve as a dwelling for you and your family – not as a warehouse or meeting place for your business and its clients. If you’re considering a computer-based business, make sure you have the technology necessary to give your idea a fighting chance. When you are starting an Internet based company, you will need skills that you may not have acquired in the corporate world so it is a good idea to get some basics before you invest in your future and before you quit your job so you have some time to acclimate and learn these new skills.  Our Academy of Entrepreneur Development is a great place to start.

Smart Tip: Make sure you have a dedicated, private area to work. This area should be free of noise and distraction. You might even want to think about an open and closed sign to alert your family.

Create A Business Plan

Numerous studies have shown that one of the major reasons new businesses fail is poor planning. If you are planning on starting up a business, you must have a business plan. This will serve as a road map to guide you, and communicate with your bank and/or investors what you’re doing and why they should invest in you. It should include a mission statement, executive summary, product or service offerings, target market, marketing plan, industry and competitive analysis, pro-forma financials, resumes for the company’s principles, your offering, and an appendix with any other pertinent information. For more, read 4 Steps To Creating A Stellar Business Plan.

Find The Right Funding

Most businesses require start-up income. Ideally, this investment will help you break even after a year, but keep in mind that even successful businesses can remain in debt for the first few years. Potential sources of funding include a small-business loan from your local bank, tapping into your savings, money from other investments, borrowing from family/friends and, as a last resort, credit cards.

Smart Tip: Try to avoid racking up costly credit card debt that could cost 20% or more in yearly interest fees. You should also avoid borrowing against your 401(k) or other similar plans as this could adversely affect your retirement. anyone who tells you to mortgage your house or rack up credit card debt are the ones you should steer clear of.  Any reputable business will want you to succeed and the fastest way to failure is not being secure in your funding and the time it may take you to turn a profit.

Plan Your Company Budget

Without a budget, a business runs the risk of spending more money than it is taking in, or not spending enough money to grow the business and compete. There are a number of ways you can plan your budget. These include researching industry standards, giving yourself a cushion, reviewing the budget periodically, and shopping around for services and suppliers.  Working with an Internet company, you may not have to store inventory or direct ship, you may have a service and have no inventory, but you will still have expenditures like advertising so you need to ensure you know what you will be up against, before investing and don’t fall for any get rich quick schemes that are so prevalent on the Internet.  Yes, the FTC is doing a good job of weeding them out but just like weeds, they keep popping up so be careful.
Smart Tip: While many firms draft a budget yearly, small business owners should do so more often. In fact, many find themselves planning just a month or two ahead when unexpected expenses throw off revenue assumptions.

Get All The Help You Can Find

A number of resources are available to help entrepreneurial hopefuls get off to a great start. Free information and assistance is available from your local Small Business Development Center (SBDC) and SCORE offices. Both are associated with the U.S. Small Business Administration (SBA). The IRS can even provide free assistance, including accounting and record-keeping, through the Small Business Tax Education Program. with our academy  and income opportunity earn while you learn program, we teach you how to work on the internet, market your business and have technology in place that can accelerate the learning and earning curve dramatically.

Look To The Future

Nearly three out of four businesses are no longer in operation after two years, so you’ll have to find ways to adapt as the business expands and to conquer new challenges. Prepare yourself for the event that growth requires you to move the business out of your home and into an office space. In addition, after the rush of a small-business launch and the initial influx of curious customers, many small businesses reach a plateau. Any business must constantly adapt to changing market conditions, new business tools and new sales opportunities in order to continue to grow and prosper.  It is also important if you choose to work on the Internet that you have a company that has something of value to offer and has some room for growth in itself.  That way you will have time to build your own niche and not worry about once you get there that they are not.  Also try to stay out of areas of saturation so you will have good potential for customers.  We teach you how to find your own niche and exploit it.

Being your own boss is the best thing in the world but it can also be the scariest thing in the world.  Navigating these waters takes a master and you should at least get the basics before you venture out.  I have had successful brick and mortar businesses and I now make my living working on the internet.  It is a wonderful and lucrative life, if you have the right mentor and the right resources.

We put together our program for a number of reasons.  We were tired of seeing so many good people lose money and faith and confidence in this great adventure.  We knew we had the moxie, the knowledge and the resources to help and so we embarked on our own adventure in helping entrepreneurs to become successful marketing products or services on the internet and also give them an underground SEO kit that takes them from babe in the woods to expert marketer in a very short period of time.

We provide all the tools and resources as well as motivation, inspiration, strategies, emotional intelligence with a kick butt SEO solution so powerful the gurus are quaking in their boots.

Fill in the form below to receive more information or call me to have a chat.  My mission is to help you to become a successful Internet Marketer.

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Check out newest low cost  high return offering that will get you into a successful Internet business and making money in no time at all. Earn while you learn to become a master and fulfill your dreams of becoming an Internet mogul.  Because you can!