Sounds like heaven.

Earn cash from home.

Make money from your living room.

Become rich without ever leaving your front door.

And you can do it…..if…..

It’s all about Profit-P.R.O.F.I.T.

Passion: There are hundreds of companies offering get rich quick from home schemes. You can sell everything from cosmetics to curtains, from supplements to shoes and from weight loss products to wrinkle remover from home and potentially make a lot of money.

However, the key to your home business success is in finding something that you are passionate about.

No matter how good the product may be, unless it is something you believe in and something you can throw your energy, drive and enthusiasm into, then your business will fail.

The key to success in every field is: “Do what you love and love what you do”.

 

Research: Do your homework! And do it before spending a cent on any new home business venture.

Every successful business needs to know three things:

1. What do my clients want?
2. How much are they prepared to pay for it?
3. How can I give my clients what they want for the price they are prepared to for it?

Many people will start a new business without having done any real research and without knowing the answer to these three critical questions.

Another great research tool is called the U.N.I.C test (Unique, Needed, Innovative, Cost-effective):

• Unique – is my product unique? Does it have a P.O.D. Point of Difference in the marketplace?
• Needed – is my product needed? Who needs it? Why do they need it? When do they need it? Where do they need it?
• Innovative – is my product innovative? Is it offering something new and exciting and solving problems for my clients?
• Cost effective – is my product cost effective and competitive in the marketplace?

 

Organisation: One sure way to succeed when starting a home business is remembering that it is both a home and a business and allocating the appropriate time, energy and resources to both. You don’t want to be in a situation where your kids and your clients are screaming for your full attention at the same moment.

Keep a chart up on the wall which clearly shows what time is “home” time and what time is “business” time so that everyone is clear on the priorities every moment of the day.

Where most home business ventures fail is where new business owners try to serve the needs of the home and the demands of the business at the same time.

It is great to be able to prepare healthy nutritious home cooked meals for your family but doing it while Skype-ing a big client, answering emails, taking phone calls and making appointments is going to ensure that both your food and your business will end up down the drain.

 

Faith: All great business successes start with faith: the belief in yourself and the belief that anything is possible. When you start your own business there are plenty of people prepared to tell you how you will fail and how your business will never be successful and how 90% of all small businesses crumble in their first year etc etc etc.

But you only need one person to believe; believe without compromise or reservation that success is possible…and that’s you.

And the funny thing about belief is, that it spreads like a virus. If your belief in yourself and what you are doing is powerful, then it will “infect” others: your clients, your family, your colleagues and soon everyone is sharing in your belief and your success.

 

Integrity: The best definition of integrity is “the honesty and truthfulness of one’s actions“. In business this means keeping to the promises you make and the commitments you take.

Very large companies will spend millions on advertising but then fail to deliver their products on time and at the agreed cost, i.e. they are operating without integrity.

The best advertising of all is the smiles and positive comments from your satisfied customers and nothing makes people happier than great service: service built on a commitment to integrity.

Remember the three Under / Over principles of great client service:

• Under promise but over deliver;
• Under sell but over serve;
• Under praise (your product) but over perform.

Give your clients more service than they expect, more value than they demand, more engagement than they anticipate and the rewards will be enormous.

 

Tenacity: Earn Cash from Home Tip number one – never give up. Earn Cash from Home Tip number two – never, ever give up. Earn Cash from Home Tip number three – never, ever, ever give up. Earn Cash from Home Tip number four…never..you get the idea.

If making huge piles of cash was easy and it happened without hard work, dedication, commitment, persistence, patience and real dogged perseverance, anyone could and would do it.

More than one business has ended up dominating their market for no reason other than everyone else gave up when things got tough.

Persist, persist, persist: you can’t win it, if you’re no longer in it!

Summary:

So if you want to make a living from the lounge room, make a killing from the kitchen or even a billion from the bathroom, keep in mind it is all about Profit!

• Know your market.
• Know your clients.
• Know your product.

But most of all know yourself:know who you are and what you love doing.

Passion plus product plus persistence = Profits.

Wayne Goldsmith

© 2011, Business Coaching Brain. All rights reserved. This post can not be reproduced in full or in part without the expressed consent of the author Wayne Goldsmith