Tags |
|
|
Links |
|
|
Casual Articles - 4 Deadly Mistakes Home Business Owners Must Avoid
Due diligence is a crucial part of real estate investing. A seller may claim that all units in his building are rented, but your physical inspection could reveal an empty one. A look at the books could show that his reported income included the one-time sale of ten used washing machines. That $900 of extra income, if not subtracted out, would artificially inflate the value of the property by $11,250, based on a capitalization rate of .08.Simply put, due diligence is your investigation of the details of a potential investment. The point is to avoid unpleasant surprises. You need to know what the real numbers are and what you are really getting into. This is especially important with income properties, because their are
I have my own preferred methods of prospecting, but I won't get into that here. There are various methods to use: be it cold-calling, search engine marketing, email marketing, offline marketing, etc. You have to do your homework and pick a mix of marketing methods that will supply you with prospects. Then you have to prosp
Whether you are a sales professional or the proud owner of an Internet or brick-and-mortar business, there is a wonderful way to deliver your message to thousands of motorists and pedestrians every day.You can stick small and fancy plates in the back of your car. These little plates will work hard for you in downtown traffic, on a crowded freeway or even while you're parked at the mall.Imagine the impact of having your website address, e-mail address, company name, phone number and business message seen thousands of times every day in major city traffic.Assuming the average person drives to and from work daily in rush hour traffic in a large city, EACH plate you display in your car will be seen and unders
Well, there is no magic secret. Sorry. It all has to do with discipline and following a system. With that said, there are some very common mistakes that people make in the day to day functions of their business. These mistakes doom them to a life of mediocrity. They choke the life out of the efforts. Below are four of the most common:
Not Scheduling
The apparent freedom that comes with working from home can be a double edged sword, especially if you're just breaking free from the shackles of the corporate world. Unfortunately, whether you're working from someone else or working for yourself, you must have a schedule. Time is the scarcest of commodities, and you must treat it as such. It is the most valuable thing you'll ever have to manage, it is priceless.
If you allow yourself to just 'figure it out' each day when you wake up, you'll never get anything done. If you're honest with yourself, you'll realize this. With no scheduling and planning, you don't know what you're working towards and you don't know what you're accomplishing. Most likely, you'll end up spending most of your time doing tasks that do nothing for the growth (money) of your business. Tasks such as filing, cleaning your workspace, bills, calling customer service for that issue that 'has to be taken care of today'.
True, all these tasks are in some respect important. But they fall under the category of 'Operations'. They do nothing for your bottom line, and therefore should be relegated to either someone else to do, or to a block of time where they are addressed together and quickly.
Pick a day during the week I use Sunday evening and every week sit down for 20 or 30 minutes and plan out that upcoming week. Based on the goals and stepping stones you have set for your business, what needs to be done this coming week to reach your 1 month goals, 3 month goal, 1 year goal? If you have this process in place, your business will run smoothly. Also take this opportunity to look at the week passed and to review it.
Not Prospecting
For most businesses, you have to prospect. Just because you're now working at home does not mean that you do not have to associate with the outside world anymore! Quite the opposite the very existence and success of your business depends on it!
I have my own preferred methods of prospecting, but I won't get into that here. There are various methods to use: be it cold-calling, search engine marketing, email marketing, offline marketing, etc. You have to do your homework and pick a mix of marketing methods that will supply you with prospects. Then you have to prosp
There is a similarity between stock trading and owning a brick and mortar business that most online stock traders have a hard time grasping. Once this concept is understood, many day trading professionals will begin to understand that you must spend money to have a chance at making money.A stop loss that is hit is viewed by many day traders as a sign from the heavens that you made a bad trade. They take it personally that their analysis did not prove profitable. This is not a healthy point of view for a long term stock trading career.To illustrate the proper mindset for executing a stop loss we will use owning a pizza parlor as an example and what an entrepreneur thinks before he spends money on inventory.
Supp
Not Scheduling
The apparent freedom that comes with working from home can be a double edged sword, especially if you're just breaking free from the shackles of the corporate world. Unfortunately, whether you're working from someone else or working for yourself, you must have a schedule. Time is the scarcest of commodities, and you must treat it as such. It is the most valuable thing you'll ever have to manage, it is priceless.
If you allow yourself to just 'figure it out' each day when you wake up, you'll never get anything done. If you're honest with yourself, you'll realize this. With no scheduling and planning, you don't know what you're working towards and you don't know what you're accomplishing. Most likely, you'll end up spending most of your time doing tasks that do nothing for the growth (money) of your business. Tasks such as filing, cleaning your workspace, bills, calling customer service for that issue that 'has to be taken care of today'.
True, all these tasks are in some respect important. But they fall under the category of 'Operations'. They do nothing for your bottom line, and therefore should be relegated to either someone else to do, or to a block of time where they are addressed together and quickly.
Pick a day during the week I use Sunday evening and every week sit down for 20 or 30 minutes and plan out that upcoming week. Based on the goals and stepping stones you have set for your business, what needs to be done this coming week to reach your 1 month goals, 3 month goal, 1 year goal? If you have this process in place, your business will run smoothly. Also take this opportunity to look at the week passed and to review it.
Not Prospecting
For most businesses, you have to prospect. Just because you're now working at home does not mean that you do not have to associate with the outside world anymore! Quite the opposite the very existence and success of your business depends on it!
I have my own preferred methods of prospecting, but I won't get into that here. There are various methods to use: be it cold-calling, search engine marketing, email marketing, offline marketing, etc. You have to do your homework and pick a mix of marketing methods that will supply you with prospects. Then you have to prosp
Buy to Let mortgage. This is the term used for the mortgages that are used for property that is bought for investment purposes to let out. The buy to let mortgage industry has grown significantly over the last ten years as more and more people are opting for buy to let as a way of securing their financial futures. With this growth in the buy to let market, this has resulted in the buy to let mortgage products becoming more and more sophisticated and a much wider choice available to landlords for their investment properties.A buy to let mortgage is different to a standard residential mortgage in that many buy to let mortgage lenders do not set their lending criteria based on an individuals income. Instead it is oft
True, all these tasks are in some respect important. But they fall under the category of 'Operations'. They do nothing for your bottom line, and therefore should be relegated to either someone else to do, or to a block of time where they are addressed together and quickly.
Pick a day during the week I use Sunday evening and every week sit down for 20 or 30 minutes and plan out that upcoming week. Based on the goals and stepping stones you have set for your business, what needs to be done this coming week to reach your 1 month goals, 3 month goal, 1 year goal? If you have this process in place, your business will run smoothly. Also take this opportunity to look at the week passed and to review it.
Not Prospecting
For most businesses, you have to prospect. Just because you're now working at home does not mean that you do not have to associate with the outside world anymore! Quite the opposite the very existence and success of your business depends on it!
I have my own preferred methods of prospecting, but I won't get into that here. There are various methods to use: be it cold-calling, search engine marketing, email marketing, offline marketing, etc. You have to do your homework and pick a mix of marketing methods that will supply you with prospects. Then you have to prosp
Have you been hanging around in internet forums and/or making blog comments lately? Public posting is growing ever-popular. One thing I've noticed, is that if you use it for business purposes and you accidentally blurt the wrong thing, it can get ugly pretty quick. A remark that was never intended to be malevolent turns out to offend somebody, and next thing you know, you're engaged in yet another public forum ping pong match. This can be downright exhausting. So is there a 'proper' way to conduct oneself on the network, in the forum, and on the blog? From what I've seen so far, I have to say yes.May I present: The Unofficial Internet Posting Rules.1. Always assume that the other person has good intent
Pick a day during the week I use Sunday evening and every week sit down for 20 or 30 minutes and plan out that upcoming week. Based on the goals and stepping stones you have set for your business, what needs to be done this coming week to reach your 1 month goals, 3 month goal, 1 year goal? If you have this process in place, your business will run smoothly. Also take this opportunity to look at the week passed and to review it.
Not Prospecting
For most businesses, you have to prospect. Just because you're now working at home does not mean that you do not have to associate with the outside world anymore! Quite the opposite the very existence and success of your business depends on it!
I have my own preferred methods of prospecting, but I won't get into that here. There are various methods to use: be it cold-calling, search engine marketing, email marketing, offline marketing, etc. You have to do your homework and pick a mix of marketing methods that will supply you with prospects. Then you have to prosp
If you are building a business, you are probably working hard. Make sure that you are also working smart. Here are 5.5 steps that you can take to improve your business immediately:1. Make a Plan
2. Tell Your Friends
3. Learn to Communicate
4. Act like an Executive
5. Learn to Lead
5.5 Ask for HelpWhy do people go into business? People go into business because they have a good idea. People go into business because they want to be their own boss, or they want to Get out of the rat race. Generally, the business is based on some skill that they have or on a perceived need that they can satisfy. That skill is seldom, if ever, their ability or burning desire to do business planning. Yet, in
I have my own preferred methods of prospecting, but I won't get into that here. There are various methods to use: be it cold-calling, search engine marketing, email marketing, offline marketing, etc. You have to do your homework and pick a mix of marketing methods that will supply you with prospects. Then you have to prospect them.
You need to take the time to learn and refine your communication and prospecting skills. It is an art and skill to be able to prospect and close someone effectively. Learn this, or your business will suffer.
Momentum Not Running Through the Finish Line
So you now have goals and schedule great. But what do you do when you reach a goal, especially at the beginning stages of your business? You absolutely should celebrate your successes, no matter how small but then get back to work!
Watch a race, any race. It could be swimming, running, motorcycles, or car racing. How do these people finish the race? Do they race to the finish line, or do they go full speed right through it?
Treat your business the same way. One mistake I see too many people do is celebrate and relax too much at every little sign of progress. Give yourself a pat on the back and a smile and keep going. Building momentum is so key to making things happen in business. Every time you stop, you kill any momentum you have built and you have to start over. Keep refining your goals and adding to them so there is always a next step. Don't kill your momentum. Make sure you run through the finish line.
Marketing Not Enough Of It!
Ah, the big one. Let's put it very simply: If no one buys from you, you have no income. If no one knows your business exists, then no one can buy from you. If you do not market, then no one knows your business exists.
Therefore, if you do not market your business, you have no income.
Agreed?
If you don't like marketing start liking it. There are so many ways to do it, find a few that you enjoy and make it fun. The fact is, the majority of your time should be spent MARKETING. At least 60% of your time, if not 80% should be spent marketing.
Go through your typical day and think about what you spend time doing. How much do you spend marketing? If you're like most people, you probably spend less then 20% of your time marketing. Therefore if you're like most people, you're not making any money with your business and like most people, your business will fail.
Get the word out! Find the people that a
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.casualarticles.com/article/150452/casualarticles-4-Deadly-Mistakes-Home-Business-Owners-Must-Avoid.html">4 Deadly Mistakes Home Business Owners Must Avoid</a>
BB link (for phorums):
[url=http://www.casualarticles.com/article/150452/casualarticles-4-Deadly-Mistakes-Home-Business-Owners-Must-Avoid.html]4 Deadly Mistakes Home Business Owners Must Avoid[/url]
Related Articles:
Explode Your Sales With Free & Exclusive Content
Seven Website Design Tips to Make Your Site More Attractive
Do You Really Need to Be Thinking about Investing?
Bookmark it:
|