How Are You Leveraging Different Areas Of Your Home-Based Business?
“When you combine ignorance and leverage, you get some pretty interesting results." Warren Buffett
Working from home has been a great way to for me to supplement my time and income. As most already know, the home-based industry has received a “bad rap” from people who didn’t find the level of success they wanted, for whatever reason may be. Having been in this industry myself for 35-years strong and counting, I’ve been fortunate to learn from many awesome mentors about how to conduct my business in a professional manner from the comforts of home. To me, it doesn’t matter if you work in a “brick and mortar’ set up or are an online marketer, regardless of the kind of business you have, you have to be disciplined enough to overcome the many objections you may face from outside forces like family, friends, neighbors, and co-workers. They will be the first to “knock you out the box” if you come within feet of sharing your business opportunity with them. But if you offer a product that provides “value”, like a benefit or service, you'll be much better off because consumers appreciate receiving great value, especially if it save them money!
I have always been the type of guy who believes in doing things that “makes sense” to me. If it doesn’t make sense to me, I don’t bother with it. Working from home with my own business is one of those things that makes perfect sense to me. With a JOB (or “Just Over Broke”), you trade time for money, pay all your expenses first out of your pay check, then are expected to life on what’s left over. And even worse, if you don’t go to work, guess who doesn’t get paid? You got it....YOU! But when you have a home-based business, you can maximize the many tax advantages regular employees can’t such as write their utilities off their taxes as well as cell phone services, car travel between business appointments, and hotel and dinner expenses whenever doing business. (See this PDF document: “Tax Advantages Of Owning A Home-Based Business”. http://ibourl.net/taxadv) Unfortunately, over 96% of home-based business owners do not fully understand how much revenue they are losing every year which attribute to failure.
A few other tips I would give is to make sure understand the niche you think you’d most feel comfortable working in. Find out if you can offer your product or service to companies and their staffs. See if it can be done through payroll deduction for ease of implementation during the benefits enrollment process. If you think recruiting to build a sales team is for you, then brush up on your personal development and leadership skills. (You can get great video training on personal development for FREE on YouTube!) And make sure that your marketing budget is in place so you can measure your results and make adjustments if necessary. Having all of your “ducks in a row” can make the transition into home-based business ownership much easier if you do your research ahead of time. And be sure to have your legal areas covered. Consumers will SUE a home-based business entrepreneur just as fast as a Fortune 500 company CEO if something goes wrong with your product or customer service was shoddy. Don’t leave that possibility to chance.
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G. L. Giddings, CEO/President
GLG and Associates LLP
Consumer and Small Business Benefits
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