I’ve been wanting to write on this tope for a quite a while. It is something that my wife and I are very knowledgable about, and something that is very meaningful to both of us.
This topic is close to my heart because my wife and I run a successful home based business. We are Independent SuperStar Directors with Scentsy. For those of you unfamiliar with Scentsy, this is the highest rank in the company. We have a very large downline and we make a very very good income. We have been at this business for a long time (going on four years). So we have a lot of insight to provide on the subject.
I want to share insights, not only for our organization, but also for the many people who struggle to get their home based businesses off the ground. Home based businesses are an incredible thing. Our life is so blessed because of the business that we have. They do however present their own unique challenges.
So it is my hope that whether you are in our organization, building a home based business in another organization, independently creating your own unique home based business, or thinking of joining a home based business, this post will be very helpful for you.
Here are the seven most critical principles for you if you want to be successful in your home based business:
First: Don’t Be Misled By The Promise of Instant Riches. It Isn’t True. It Doesn’t Exist. You Have To Work Hard, and Long, To Make Good Money. But If You Do, Great Money Is Possible.
If you want to be successful in your home based business you first must address the “Lies and the Liars”. I think you know where I am going. There are WAY TOO MANY people who market the “opportunity” of a home based business by highlighting the potential “Riches” that are just around the corner. Here are some warning signs:
This is the next big thing. You’ve got to get involved now or it will be too late!
I know someone who joined only a couple of money ago and he is making six figures A MONTH!
I have one word for this: BALONEY
The Lies and The Liars are giving a bad name to a wonderful industry.
There is nothing wrong with suggesting that people can become wealthy through a home based business. The truth is that you can become very wealthy. Our personal standard of living has been significantly increased as our business has grown. However, the thing that bugs me about people who market this way is that they are missing the critical second half of the equation:
Nothing in life is free. There is no shortcut. There is no “get rich quick”. It doesn’t exist. You can make a LOT of money doing a home based business. But like anything else in life – like any “brick and mortar” business you are going to have to work your butt off to make the big money. You are going to have to overcome your fears, you are going to have to get outside of your comfort zone, repeatedly. You will have to EARN the riches that come to you.
In my experience the people who are marketing “the next big thing” forget to tell you about this (if they even know this).
Second: You CANNOT build a successful home based business if your only clients, customers, recruits are your friends and family
Here is what will happen if you only market your business to your friends and family:
Over time your friends and family will start to avoid you. At first they will purchase your products, and maybe even a couple of them will join as recruits. But you will quickly exhaust their goodwill if you push them, and continue to only go back to them.
I know of many people, including ourselves, who make a significant income at a home based business. Every single person that makes a good income has been able to move outside of their friends and family.
When new individuals come into our organization this is one of the first things that we tell them: Move outside of your friends and family. Figure out how. Come up with novel ideas. BE BRAVE
If you do, consistently, you will be rewarded. If you don’t, your business will plateau (and eventually shrink).
Third: It is EXTREMELY rare that a “Home Based Business Hopper” is successful
By “Home Based Business Hopper” I mean the person who jumps around from one business to the next. Who seems to be joining every new business that comes along. Who always has a new thing. In my exposure and experience, which at this point is significant. I have not seen anyone who bounces around become overly successful (in terms of earning a significant amount of income).
So my advice (for what it is worth):
Pick One And Stick With It
Most businesses take a year to become profitable. Why would it be any different with a Home Based Business? The reasons people jump around is because of the Lies and the Liars (see above). They get hypnotized by the “Quick Riches” that are a fairytale. So they end up just jumping around, never building a strong foundation, never building deep routes.
Pick the opportunity that your are passionate about. Stick With It. It needs Time To Grow
Fourth: People Who Run Successful Home Based Businesses Take A “Professional” Approach To Their Business
Here is how a “Professional” acts:
They are disciplined. They maintain a set schedule
They are organized. They make goals and they make specific plans to achieve them
They work hard. They don’t look for shortcuts or easy paths
They work effectively. Spending all day marketing your business on Facebook is not effective
They are brave. They move outside of their comfort zone often
They are constantly seeking to improve their craft. They want to be the best at what they do
They don’t make excuses. They take personal responsibility for their success and for their failures
Many times we hear the following:
I don’t have time for this business, I have other priorities; or
I don’t feel comfortable taking to strangers about this business
Let me make something very clear: There is nothing wrong with you as a person if you feel this way. It is perfectly acceptable to join a home based business for a variety of reasons. It is perfectly ok to want to be a part timer. It is perfectly ok to just want to make a little bit of side income. Not everyone needs to rise to the top.
The thing to be aware of however is the very real principle:
ACTIONS LEAD TO RESULTS
So whatever result you want, you must be willing to take the actions that will lead to those results, and you CANNOT build a significant home based business by being a dabbler. You have to go all in at some point if you want to gain the big rewards. If you don’t want to go all in, there is nothing wrong with you, but you have to accept that you cannot gain the rewards of going all in, without taking the actions required. So you cannot complain when you don’t get the rewards of going all in, if you haven’t actually done the actions that are required of you. It is that simple.
Whenever we hear someone say “I’m not getting the results I want” or “this isn’t working” we ALWAYS ask what they are doing in their business, and to a person there is some element of the “Professional” that is lacking. In almost all cases it is the amount of time they are actually putting in their business, or the form of activities they are engaging in. They may be “working” but they aren’t doing effective work (see Facebook comment above). In most cases effective work is the work that scares them. The effective work always involves getting out of your comfort zone, and not just one time, getting out of your comfort zone UNTIL YOU GET THE RESULTS YOU WANT.
Which leads to my next point:
Fifth: People Who Are Successful At A Home Based Business Learn How To Act, In Spite Of Fear
Fear doesn’t ever really go away.
But it doesn’t mean that it has to be paralyzing.
In order to build a successful home based business you will have to do things that scare you, often. In most cases the fear is just fear of rejection (when asking a stranger about the business or opportunity), or fear of uncertainty (when dealing with said stranger).
The people who build great home based businesses feel fear as well. However they learn to move forward in spite of it. They feel the fear and do it anyway.
Sixth: People Who Are Successful At A Home Based Business Stick At It Long Enough To See Results
Again here is where the “Lies and the Liars” come up again.
It took us over two years to make a decent income with our business. That was with Meghann working on it FULL TIME and with me working on it part time.
It took us almost four years to make a really significant income at this business.
So many people quit working their business after the first year because they aren’t seeing the results they want
WHY? IT TOOK US TWO YEARS TO MAKE A FULL TIME INCOME. WHY WOULD IT BE ANY DIFFERENT FOR YOU?
One of the biggest problems with people in a home based business is that they bring an “employee” mindset to their business rather than an “investor” mindset.
Here is how an employee thinks:
I get paid by the hour. So after a year if I have not made an income in my home based business that is similar to what I would have made working the same number of hours in my old job, then it must not work, and I’m going to quit. I get paid by the hour.
Here is how an investor thinks:
I know that great things take time. I am laying the foundation for a future payoff (that will be much larger than what I could make as an employee), and it is ok if it takes a little while to get this off the ground because once it starts rolling I will have something fantastic. Therefore, I am willing to “invest” the money and time that is necessary to make it great. I don’t view myself as an “hourly” wage earner because I know that once it starts rolling I will make far more money than any hourly wage could provide me.
You have to think like an investor. You ARE NOT AN EMPLOYEE ANYMORE (AT LEAST IN YOUR HOME BASED BUSINESS). So stop thinking like one.
Seventh: People Who Are Successful At A Home Based Business Believe They Can
This one is last because it is by far the most important:
If you think you can, or you think you can’t, you are right
In working with thousands of home based business owners in our organization this principle is so real. We can tell almost immediately what the experience of a new person in our organization will be like based on their level of belief. Belief in themselves, belief in the company, and belief in the product.
When people believe, they will do what is necessary to make it work. They won’t complain. They won’t think like an employee. They won’t jump to the “next big thing” the moment things get hard.
When people believe, they will act in spite of fear. They won’t make excuses, and they will stick at it UNTIL they get the results that they want.
Really it is that simple.