The Home Based Business: It Is What You Make It

August 6th, 2009 by | Print

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When was the last time you looked at the opportunities on the web for a home based business? As a solopreneur, deciding on a business – the right home based business – is a challenge, I know. If you do a search on Google under the phrase, “home based business”, your search will kick back 493,000,000 options. So how do you pick the right one?

 

The reality is that choosing the right one is only a part of the difficulty that you will face. The real challenge is making the right choice a success. But wait, you say, “Shouldn’t the right home based business for me be the one that takes advantage of all my talents and in return gives me the flexibility, freedom, and finances to have the lifestyle that I desire?”

 

Yes, however, the problem is that the pros know how to pitch a home based business package that plays on your emotions.

 

I’m not suggesting that they are all shysters with the swindle du jour. There are some real opportunities available. But, what is the job of a pro? To make the difficult appear easy.

 

However, did they tell you when taking your money that you would need to commit to the following 12 points in order to see results?

 

  1. Make sure that the business integrates with your life plans of personal and economic goals.
  2. Be passionate about your business and the market that you are servicing.
  3. Build a business that is an extension of your strengths and experience. Know your weaknesses. Have them covered by others, but manage the results.
  4. Research your market (overall industry, competitors and customers). Make sure that the market is large enough to meet your financial goals (determine what phase of the s-curve it is in).
  5. Have a business plan. Create a plan based upon a unique value proposition for your market at a reasonable price.
  6. Make sure that you are well funded.
  7. Get involved within your industry. Build a network of mentors, business associates and joint venture partners.
  8. Know your financial limits. Don’t operate beyond your means.
  9. Take action. Stay involved. Don’t let your business coast on autopilot.
  10. Provide a consistent, beneficial experience for your customers.
  11. Review your business and market on a regular basis.
  12. Make definitive choices and adapt quickly to the changes in your market.

 

I am not trying to shatter any dreams of grandeur. I am simply trying to live up to my mission of helping solopreneurs create and grow successful, sustainable businesses. There isn’t a pro alive today that can quickly teach you to make millions. If they could, they would be out of business within a year.

 

Why?

 

Because if anything were that easy, the market would be flooded with all the pro’s students using the same methods. How would customers know how to differentiate you from the thousands – or millions – of others that were using the same “money-back guarantee” methods?

 

So when you are trying to decide which home based business is best for you, consider and commit to the 12 points above first.

 

All The Best,

Doug Dolan
The Solopreneur’s Guide

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2 Responses to “The Home Based Business: It Is What You Make It”

  1. paul pennel Says:

    Great list Doug.

    I\’d say #2 is the most important. It helps you keep up the tremendous amount of energy needed to follow through on the other 11 items.

    I\’ve been dealing with #3 more lately and doing my best to let go of the pieces I am not best at and accept some help.

  2. Douglas Dolan Says:

    Thanks for the compliment, Paul.

    I agree with your comments.

    Regarding item #2, passion for your business and you market is huge – it can’t be the only thing – but how many people do you know that can do something that they don’t care about day in and day out? Starting and running a business is very difficult. There are a number of challenges. The passion can’t be about the money only because the odds are against you that you are going to hit it big from the get go with continued growth.

    Regarding item #3, I think most people have a tough time outsourcing for two reasons. First, most people don’t know how to outsource projects successfully. They may have done some outsourcing in the past and had less than favorable results. I did an interview with Judy Schramm, CEO of ProResource LLC. Her firm teaches people how to get the most out of their outsourcing. Second, people see outsourcing as a cost instead of an investment in freeing their time to focus on their strengths while other professionals make the most of their weaknesses.

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