A Critical Mistake 99% of New Home-Based Business Owners Make Before They Sign Up

There are many reasons why people either succeed or fail with a home-based business opportunity. However, there is one critical mistake that most people make before they sign up that will have a major impact on success or failure.

If you are involved in a home-based business you have experienced the recruitment process. You are invited to check out a home business through one of many ways including a hotel or home meeting, business presentation CD, phone presentation, or a one-on-one presentation.

The presentation, generally, is about the business and what it does to make life better for everyone using their products or services. A good presenter will show you how the business makes sense and the exciting opportunity that lies before you. By the time the presentation is over the opportunity sounds so good you can’t understand why anyone wouldn’t join and become a millionaire.

Hopefully, you have done your due diligence. You have checked out the company and its products to make sure they are what they say they are. You have experienced the products and services, believe in them and feel in time that you could develop a passion for them. And, finally, you feel confident you can go out and build a business with this company.

But wait! There’s something that is missing and it is the one critical step that must take place to make sure you have the best chance for success. You have to find out how qualified your potential sponsor is in leading, training and coaching you. How they answer your questions should be key to whether you join their team or not.

Here are critical questions you should ask:

· What kind of business building experience and training do you have?
· Tell me about the team you have built and how you did it
· Specifically, how do you build your business?
· What you do to teach your new business partners to do to ensure their success?
· How much time do you traditionally spend teaching and mentoring your new partners?
· Can I call and talk to several of your business partners to get a feel for your organization and how your work with them?
· How easy are you to contact? Will you be available when I need you?
· IMPORTANT: If your potential sponsor is new to the business, you need to ask these questions to his sponsor before signing up

Most people hardly ever ask these questions. They end up signing with inexperienced and non-mentoring business partners. The result, in most cases, is frustration and failure.

Having a sponsor with strong leadership and training experience mentor you through your first years in a home-based business is critical. Here’s why:

· Most people signing up for the home-based business opportunity have little or no business building experience
· Starting a business is tough work and a strong leader needs to be there to mentor the new business partner through the highs and lows
· You will need to develop a new set of skills: presentation, closing, training, mentoring, etc. including a proven step-by-step business building process or system
· To avoid many of the pitfalls many inexperienced associates fall into
· Help develop the right mindset to succeed

Unfortunately, most prospects are told this is an easy business to build. Anyone can do it! So, the new business partner comes in with false expectations. Only to learn, the hard way, that success comes with the price of hard work, education and commitment. For most, starting a home-based business is a huge challenge.

A sponsor must be honest. A recruit has to understand the benefits of being involved in the business, but counseled that there is much to learn and a long-term commitment to the business is required for success. The sponsor may ask for a one-year commitment with a minimum number of hours a week to work the business before signup takes place. The prospect needs to understand this is a serious business and to make serious money will require constant plugging in and participating over several years.

New partners may never have been involved in sales or recruitment, so, this is foreign territory. The sponsor must have the knowledge and experience to teach the basics and get the new business partner off to a solid beginning teaching a success system that is in place and being used by other business partners.

A leader will work directly with his new recruit to understand the business inside and out. He will teach solid fundamentals that will be the foundation the new partner will fall back to for the rest of his career. And, in turn, teach this system to his recruits, too.

Signing up with a proven experienced leader is a critical part of building a successful business. He will be your mentor, coach and trainer for you through thick and thin and lead you to success.

So, the next time you investigate a home-based business opportunity ask the critical questions that 99% of potential business partners never ask about leadership and training. It could make the difference between success and failure.

How Outsourcing Helps in Increasing Your Business’s Profitability

The main purpose of any business is to make profit. Profit margins should keep on increasing without fail. For the same, you can either increase the price of your products or reduce the costs of operations. The latter is obviously more preferred and this is where you realize the significance of outsourcing.

High performance and improved operations are crucial for any entity to stay ahead in the race. Relying on an external party can do immense favor to your business. However, before outsourcing you should carry out a self-analysis by studying your business inside out. Understand your strengths as well as weaknesses very clearly. This will give you an exact idea regarding the services that you need to outsource.

With technology, the need for investment has drastically reduced. You can now get the help of a remote staff from any desired geographical location. Technology makes it easier to work with staffs remotely. There are a lot of business process outsourcing companies that assure high quality services at less expensive rates.

Outsourcing service providers virtually expand the company and enhances your skill sets. You get access to a wider pool of varied talents. Regardless of your requirements, professional business outsourcing companies guarantee excellence. Lack of infrastructure is one of the main factors that hinder the growth of many companies. Scaling up swiftly is sometimes crucial to sustain in the market and this is feasible by strategic outsourcing.

There are a lot of core activities that need to be executed flawlessly. Having an external party to take care of back office tasks spares you with enough resources and time to stay focused on the actual business processes. Outsourcing also provides you with time zone advantages. Your business will be running smoothly all-time round the clock.

Sub contracting is doubtlessly an exceptionally operative strategy but its success depends a lot on the partner you rely on. It is very important to confirm that the service provider you are associating with is capable of availing perfect solutions for all your business requirements.

To get the right people by your side, carry out extensive market research and inquire in detail about the service provisions and assurances from different service providers, apart from also collecting multiple references from their existing or serviced clients. You must inspect the measures these business process outsourcing companies take to keep your information secured. They should also be ready to sign all concerned agreements.

Internet Network Marketing Business – Six Keys to Success

Network marketing has gotten a bad rap over the years with most companies setting you up for complete failure by telling you to make a list of all of your friends and family and then pitch them to get them involved in your business. How can that be a good thing? For most people, their friends and family are the ones that have heard them say over and over again, “This idea is going to be the big one!” just to see them fizzle out and move on to the next latest and greatest thing. So, these six keys to success in your internet network marketing business are the foundation you MUST follow if you want to succeed in your own home business:

The First Key To Success In Your Internet Network Marketing Business: you must follow the BE>DO>HAVE Formula. You have to become something inside yourself before you can have it in reality. You have to stamp the imprint onto your brain that YOU ARE NOW AN INTERNET MARKETER! This must now become a part of who you are in order to succeed in your internet network marketing business.

The Second Key To Success In Your Internet Network Marketing Business: you have to choose the right vehicle/business – tailored to your specific personality and lifestyle. For example, you wouldn’t most likely go 4-wheeling in your brand new Ferrari now would you? You would most likely choose a suitably equipped 4-wheel drive vehicle for this task. The same applies to your business matching your personality. You want to make sure that your business plan excites you or you’ll never get it off the ground!

The Third Key To Success In Your Internet Network Marketing Business: you want to have the best training available that gives you step-by-step instructions on how to become successful at your new venture AND be simple to implement as well. Most business models are great in concept, but how are they when it really counts? I’ve found from years of experience at this that most need a “superstar salesman” to make them work. You want something simple and straightforward that a “regular” person can learn and implement.

The Fourth Key To Success In Your Internet Network Marketing Business: now that you’re learning the business, you have to start driving high quality, targeted traffic to your businesses website. Notice I didn’t say “know the business inside and out” – or “analysis paralysis” as it is called – remember this: you don’t have to make it perfect…you just have to GET IT GOING! Failure to do so will make or break your internet business just the same as it will in ANY business.

The Fifth Key To Success In Your Internet Network Marketing Business: is proper communication. Once you start getting people interested in your business and they start working with you, you have to stay in touch with them, help answer their questions, teach them, lead them. Great leaders are hard to come by. Become one and you will RULE THE WORLD!

The Sixth Key To Success In Your Internet Network Marketing Business: You must never rest on your laurels and think “Ahhh, I’ve finally arrived”! Even though you’ll have plenty of freedom this is still a BUSINESS. Businesses must be operated. Usually by people! You have to continue to learn the latest techniques and stay ahead of the latest trends. Right now online, the latest trends, as you may have seen, are social media websites such as Facebook and Twitter. They allow you to connect to large amounts of people all over the world – in an instant. You must continue to grow in your business life and in your personal life in order to feel like you are truly successful. My grandfather always used to tell me: “Once you stop learning, that’s when you start dying.” Trust me, it’s great advice to live by!

Well, that’s it. That is the actual outline that I live and work by. In my next series of articles, I will actually break down each of the six keys one by one in detail and explain precisely how you can use each one to start and succeed in your own internet network marketing business.

In my next post, I am going to break down the BE>DO>HAVE Formula in minute detail. OK. I’ll give you a little hint now. Here it is. Nature demands that you BE someone who does things in a certain way before you can DO those things that way in order to HAVE those results in your life. Let me say that again. You have to BE someone who does things in a certain way before you can DO those things that way in order to HAVE those results in your life. That formula alone, when applied properly, will change your life forever!

I’m also going to give you some simple techniques that, if you TAKE ACTION on them and actually practice them regularly, you’ll feel so motivated and determined that you will become a virtual cash machine! So get ready for the next installment. It’s going to be life changing! Stay tuned…

Searching For the Perfect Business

Ah! The perfect deal! How we all fantasize about finding it. No doubt you have heard a story similar to the one about the guy who finds the barely used 1957 Corvette stashed in the back of someone’s garage. It has sat there unused for years. The owner just wants to get rid of it and agrees to let it go for a song.

Sounds great, doesn’t it? Unfortunately it is rare that this ever occurs at auctions and estate sales, and it is even rarer that it occurs in the world of deal-making or business acquisitions.

But still, even in today’s tough economic climate where lenders are tightening their purse strings and our government is conjuring up ways to implement new taxes, I continue to get buyers calling me and giving me a 60 minute exposition on the business acquisition they wish I would help them acquire. But alas, imagine their woe when after my patient listening and patient rebuttal, they are fated to discover that what they are looking for is in fact, a perfect deal, and thus does not exist.

On the surface I understand and recognize they want to make sure they get the best value for their dollar they can possibly achieve. But the reality of the situation is there is no such thing as a perfect deal.

First, let me explain what I am talking about when I say the “perfect deal.” In the world of business acquisitions, the perfect deal would be the buyer finding the convenience store that has the right size building; located at the best spot in town; has updated pumps and credit cards systems; the roof, air conditioning and cooling units are fairly new; has a profitable foodservice program with minimal competition; has a high volume of fuel gallon sales; and has consistently high inside sales (but with not a lot of cigarette sales). In addition, the seller is very motivated and is willing to sell the store below the current market value of a c-store.

Have I got your attention? This would be pretty close to the perfect deal. Everybody has different criteria, but this will give you a general idea as to what I am talking about. Are these kinds of deals out there? Absolutely. Are they plentiful? No.

The reality is that almost all deals will “have some warts on them.” There is generally going to be something that is just not right about the deal. Maybe it has a great location, but the assets are a bit run down. Perhaps it does a great business inside and out, but the size of the building is too small for expansion in the future. Maybe it has a branded obligation that cannot be changed and the buyer is not interested in becoming part of the new brand. There are many different things that will come into play when looking at acquiring a convenience store.

My point is, there are a lot of great opportunities in the world of business acquisitions, but you first have to understand that there is no such thing as a perfect deal. Once this realization has been met, then the search becomes realistic, and you can find a really good convenience store or group of stores that are available to be acquired with most of the criteria you are looking for at a fair price.

Just this week I was presented with a group of eight convenience stores that an owner wanted to sell. Is it the perfect deal? No. Three of the stores are leased properties and five of the stores are owned in fee. But they are all profitable and have a great upside. Upside is the part of any deal that a buyer should be seeking. What is the upside of this acquisition? The buyer knows he will have to invest money to acquire these stores; however, based on his expertise and knowledge in the operation of c-stores, it is also known that by adding certain items and maybe changing the floor plan and a few other things, he can raise the sales too. This means there is plenty of upside for him in this transaction and that the new profits generated from changes made are going to be his.

All of the hard work has already been done. By this I mean it is a lot easier to take an existing business and build it to a new level than it is to build a business from scratch and not know if or when you are going to make a profit. You see, when you buy an existing business, you have a cash flow from the very first day you take over the operations.

So put on your deal-making hat and take off your rose-colored glasses, and you will see there are many opportunities available for those hardworking owners of c-stores who are looking to expand and find some very good (but not perfect) deals In today’s marketplace.