How I Failed With A Home Based Business, And You Don’t Have To

Do you want to run and operate a home based, or work from home, business? Do you think you have what it takes to run a business?

This is how I failed and my first home based business, learn from my mistakes.

There are seemingly countless home based business opportunities out there, both on and off the internet. You have the options of starting something on your own from scratch, or ordering a turn-key system from someone.

My problem was I got so excited about the possibilities that I didn’t focus enough on the details. All I saw was how much money I could make and little else. Deep down I knew I wouldn’t like doing the work required to succeed in the my work from home business. I kept thinking about the money I could make and told myself I could things I wasn’t comfortable with to become rich.

Basically, I failed because I had set unrealistic expectations for myself. I dreamed of quitting my day job and becoming my own boss. Then I came across one of those opportunities that seemed to good to be true, and it was. Don’t read into that. It was a legitimate opportunity and many people were being successful at it.

The problem is person-to-person sales makes me uncomfortable and this opportunity required exactly that. It required me to advertise and promote my business, and make numerous calls to grow my down line and sell products.

I spent an awful lot of money on advertising. The advertising got results too. But then I had to call each person who responded and try to close the sale. These calls would make me so uncomfortable that after spending several hours on the phone I was so stressed out that I wasn’t able to relax. It even got to the point that I wasn’t sleeping well at night. It got to the point where I just stopped making calls and all that advertising was a giant loss because I wasn’t able to follow up on my leads.

So you can see, it’s important to choose a business opportunity that is right for you, not because other people are making money with it. Focus on building a business that is right for you and the money will come.

Four guidelines for success

1. Be realistic about the business opportunity. If you will be required to do what you are not comfortable with you will not succeed.
2. Ignore the profit potential and choose something you will enjoy doing, because if you don’t like the business activity you will not succeed.
3. We can’t all succeed at the same thing. Just because someone is making $2000 or more a week does not mean you will. Different people can do different things well. Recognize your personal potential and stay within it.
4. Develop a budget for your home based business and stick to it. Never let someone talk you into spending more than you can afford, including yourself!

Further Reading

• Small Business Financial Management
• How to Choose a Home Based Business
• MLM Strategies
• How to Sell Face to Face Survival Guide

COMPUTER INFORMATION SERIES NO. 3 OF 3

Well — you finally took the plunge! You found the best computer for your needs at a price you could afford. Now that you have the thing home, what do you do? The first thing is not to use the system until you read over the manufacturer manuals that come with your computer. Even if you can’t understand them, at least read the information over once. This step is important in your learning process and to understand the particular computer and printer you purchased.

If you purchased a brand new computer, the manufacturer has probably already installed everything on your hard drive so all you have to do is turn the computer on and work through the on-screen learning tutorial to get you up and running quickly. If not — and if you’re still confused after going through the tutorial, simply enroll in a computer class in your area. These classes are not expensive and shouldn’t cost more than $10 for a 1-day class. If you purchased a brand new computer at a computer store in your city or town, most of them will give you a free lesson or two. Or, perhaps you know a friend or relative that already has own of their own and can give you some one-on-one instruction.

Whatever method you choose to learn the basic operations of your computer system is up to you; but do dedicate the first week or so of your life with your new computer friend to learning how it operates. This basic training ground is essential in your growth and the growth of your business.

You Finally Got the Thing Ready to Go — Right?

So now you have learned how to turn the thing on and do a few things. Perhaps you have even advanced to the point of typing your first letter and have printed it out on your printer. Great! You are progressing fine.

But now we’re up to the costly part of owning a computer — purchasing additional software. As previously discussed, software is the programs that you buy in order to make the computer do what you want it to do.

If you want to write a letter, you have to have a word processing software program (e.g., WordPerfect or Microsoft Word.) If you want to keep records of your checking account, you will have to buy a separate software program to do that; and still another separate database software to maintain your mailing list.

Most beginners will ask: “Isn’t there just one big software program I can buy that will do everything?” The answer is NO. This is how software manufacturers stay in business. Besides, a computer is customized to YOU and your particular needs. You may be an artist and want to purchase a software program for drawing pictures on your computer. I, on the other hand, would have no use for a program like this since I can’t draw. Therefore, it would be impossible to have one great big software program that could do everything for everybody and meet every need that everyone would have.

There are some software packages that come as one entire package and claim to have most of the software needed by a generalized majority (small business owners, for instance.) One popular, well-known program is WordPerfect 6.0. Another one is AmiPro. Both of these are excellent packages and if you can afford the $300 or so investment right now — this would be the best recommendation I could give you for your initial software purchase.

However, if you’re like I was and cannot afford to buy the system and spend another $300 on software at the present time you can use alternative solutions. There are a wide variety of medium-priced packages in the under $100 range from such companies like Pro-Media International, (800) 998-2822 and MicroWarehouse, (800) 367-7080 or Windows Exchange, (800) 845-1900 to name a few.

You also might want to consider picking up a copy of Windows Magazine at the newsstand, or order one directly from the publisher at PO Box 5006, Pittsfield MA 01203-9951. Undoubtedly Windows was already installed by the factory when you purchased your system. Windows is an “operating environment” just like DOS is. An “operating environment” simply means the major software that other software programs need for them to operate themselves. DOS means “Disk Operating System” but it also performs maintenance and protection of your system too.

But an even lower-priced alternative is SHAREWARE and the little known FREEWARE. What is it? What are its disadvantages and advantages? To find out, be sure and read a copy of Victoria’s Report No. 170, entitled, Computer Information Series No. 4.

Continue reading Part 1, Part 2, and Part 4 of the series.

WHERE TO PURCHASE YOUR OFFICE SUPPLIES

Whatever you do, DO NOT, purchase your office supplies at your local drug or grocery store. The office supplies sold here are only for people who want to write a letter back home to Mom and Dad, or to send an occasional greeting to a friend. Businesses do not purchase their office supplies from these types of stores because of the extreme difference in price. My mother used to always purchase her business envelopes at the grocery store. She thought the price was very cheap when she only paid $1.29 for 50 envelopes. Her lined writing tablet contained 100 sheets for around $1.29 also.

However, I can drive right down the street to Staples Office Supply and purchase 500 envelopes for $4.00 — 10 TIMES the quantity for only $2.71 more. In addition, I can buy 500 sheets of 8 1/2×11 laser paper for $2.99. So not only am I getting TWICE more the size of paper (her writing tablet was approximately a 6×9 area) but I also got 5 TIMES the amount of paper — and all this was only $1.70 more! What a difference! So don’t be fooled on supposedly cheap pricing of office supplies.

If you live in a small area that does not have any office supply stores, you need to contact: Quill Corporation, PO Box 94080, Palatine IL 60094-4080 and request their latest catalog. Since I have been in business-related situations all my life I have had to learn how to cut corners all the time — I have found Quill to have the best mail order prices around. Not only is everything reasonably priced — they don’t have a sale and raise prices on everything else like some other company’s do. This tactic that some company’s use is blatant abuse and demonstrates bold faced greed!

What Do I Buy?

Most every small business will need the following “staple” supplies to start with:

• paper (typing paper or paper for your computer printer)
• ink pens
• tape and tape dispenser
• stapler and staples
• paper clips and dispenser
• 1 or 2, 3-ring binders
• 3-hole punch
• envelopes (business size #10)
• 8 1/2×11 paper trays or wire baskets for organizing the “to do” and “to do later” pile manila file folders and labels
• hanging files to fit in your file cabinet (I started out using a banker’s cardboard storage box so the hanging files would fit; since I didn’t have the money to afford a metal file cabinet)
• ruler
• scissors
• staple puller
• rubber bands
• glue stick or other paper glue
• highlighter markers
• scrap note paper or post-it note pad (get in a habit of writing everything down so you can follow-up effectively)
• roladex or address book

This should be enough to set-up any basic office. Your filing system is the most important thing to your business right now. If you start it out right you can keep up with it. Neglecting to set it up correctly in the beginning will start a pattern that is very hard to break later on — and can eventually destroy your business. Let’s take a couple minutes to discuss some basic accounting procedures so you can set your files up correctly from the very beginning.

The Next Step

As soon get your beginning office supplies, before you do any business by mail you need to get a letterhead and envelope. People will not take you seriously until you do. One simple and easy way to get these two items is to type your name, address and phone number at the top of a piece of white paper. Either print it out on the laser printer of your computer or have a competent typesetter like Muchmore Marketing, PO Box 50027, Reno NV 89513 do it for you. (The cost is around $5.)

You then purchase some nice letterhead stationary at your office supply store and copy your letterhead onto the paper. Letterhead stationary is not expensive either and the best grade only runs about $7 for 250 sheets. It’s money well spent.

To obtain your business envelope, check with mail order printers. Prices normally are $24 per 1,000.