Don’t Give Failure A Chance In Your Home Business
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Short and sweet, here are a few quick tips to either refocus your mind if your results have been sluggish of late or get you in the right frame of mind to accept a life of abundance if you’re new to the game:
Mentally spend $10,000 each day: I’ll bet you can’t go longer than 10 before you run out of ideas but you’ll never produce life-changing results if you cannot train your mind to expect abundance everyday.
Always say yes to money: Whether it’s a penny in the parking lot or a $5000 commission - you have to believe you’re worth it!
Negative attitudes suck: Negative people will quickly drain your energy so avoid them as much as possible. Record your success: Keep a list of five things you done right each day. Big or small, doesn’t matter. Celebrate the goods times.
Focus on the end result not the journey to get there: Don’t waste time on the process, put your plan in place, follow it and good things will happen.Most important, have fun doing what you’re doing - it makes everything easier and results will follow.
Adrian McCluskey is a highly experienced home based business entrepreneur and online marketing professional. His personal mission is to help new and experienced entrepreneurs reach complete financial freedom without compromising integrity and honesty. Check out his website at http://www.bestsuccessathome.com/
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There is NO excuse for making the same mistakes someone else has
already made.
DON’T MAKE THESE!
Over the last three years I have had the privilege of working with hundreds of people…. teaching them how to set up and run their own successful business from home.I have worked with doctors, lawyers, truck drivers, nurses, stay at home moms, CEOs, and corporate executives, to name a few.Let me ask you a serious question…
What’s important to you in life? Family? Kids? Lifestyle? Work? School?
Do you have the time for the things that matter most to you?
I really do want for you to see what’s possible for you if you really give
First of all, find a mentor…someone you can trust, someone who matches
eting-type business models. The attrition is too big, and the commissions are too small.Make sure you don’t have to pass up any sales as part of a qualification system. You should be in an income-earning position from day one. This is so critical.Make sure that the company you are working with has no conflicts of interest. You can recognize this as large monthly fees, selling you leads, or partnerships and alliances that are designed to line the company’s pockets with your hard-earned money.Find a company where you don’t have to do any personal selling or explaining. Make sure there is a team of people in place to do this for you. You should have an entire team of people to support you. I always give my new people a spreadsheet with at least 30 leaders’ contact information on it to make sure there is lot’s of support
accessible in case I can’t be reached.
Finally, trust your gut. If you feel good about what you’re doing, great. Pursue it with everything you have. If you are leery and can’t get straight answers about products, services or systems, RUN! They aren’t telling you the whole story and only want your money.
You should be able to tell very easily if someone really does care about building a long term, successful relationship with you or if they are just trying to sell you something. There are hundreds of scams out there. Beware. Many are cloaked in innocence and opportunity. Look closely.
Finally is what you are about to do something you would be willing and eager to share with others? If not, how can you be successful if you lack the self confidence and pride in what you are doing?
Do something meaningful and make what you do about “helping others”. Be proud and passionate, and if you are using the right system it will be impossible to fail.
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The following is a vintage article from noted tax expert, Sandy Botkin. Simply put, Sandy explains why you absolutely must start a home business to maximize your tax savings. Enjoy!
This may be a decade of tremendous corporate profits and economic growth, but for the vast majority of North Americans, the 90’s have been a dismal, uphill climb. And many economists believe that this next, new millennium won’t be getting better any time soon.
Why?
Changing business and government attitudes are the reason. There has seemingly been more anti-business legislation in the last decade than in any other this century. Stronger employment and labor laws, the Age Discrimination in Employment Act, the Comprehensive Omnibus Budget Reconciliation Act (COBRA, which includes mandating health insurance for workers for a period of time after they leave employment), safety laws, much tougher laws for discharging workers, more liabilities for lawsuits, Family Leave Act, Americans with Disabilities Act (which is creating immense numbers of lawsuits), along with higher minimum wages and fringe benefits.
While these acts have beneficial and protective aspects, they have also encouraged businesses to move their facilities. That “sucking sound” popularized by Ross Perot, is not just down to
The young and the middle-aged alike are realizing that their dream of “having a job with a company forever” is an illusion.
Companies have been downsizing, rightsizing, and capsizing for some time now, and they continue to do so- more now than ever before.
Even the federal and state governments are getting into the act with layoffs and attrition of jobs.
In addition to all this uncertainty and mutual lack of loyalty between companies and employees, even the workers who do not keep their jobs have no guarantee of promotions due to the shrinking number of management positions. These circumstances aggravate the already tryingly long commutes in rush hour traffic and increasingly typical frustrated boss-spelled backwards, that double S-O-B.
Finally, if all this isn’t bad enough, under recent tax laws employees are shafted more than ever wit h limits and thresholds for their employee deductions and higher social security tax limits. This results in more couples working than ever before and, on many occasions, working more than one job.
It is now almost impossible to have only one job in the family and make ends meet! Today, many households need three incomes just to survive.
Sadly, even having more than one job does not produce any major positive effect on most people’s bank accounts. Why? Because of tax laws. This was well illustrated in 1994 by Jane Bryant Quinn in her Woman’s Day article on “How to Live on One Salary.”
Where The Money Goes-
Ms. Quinn’s example assumed that a man was earning $40,000 per year. His wife (we will call her Lori) wasn’t working. They had more month than money. (Sound familiar?) Lori subsequently got an administrative job for $15,000 per year. You would think this would improve the family’s financial situation, but when Ms. Quinn examined the economics of getting this extra income, the results were startling!
Lori had to pay federal and state taxes on her new income. Since they filed jointly, the family’s combined income was what established their tax bracket. She paid $4,500 in new taxes, most of which was non-deductible, for federal and state income tax.
Lori had social security withheld from her paycheck at the rate of 7.65 percent, which amounted to an additional nondeductible amount of $1,148 being extracted from her salary. She also had to commute to work 10 miles a day round trip, which is probably conservative for most people. This resulted (in 1995) in nondeductible commuting costs of $696.
Lori also had some child care expenses, which give a partial tax credit. Ms. Quinn figured that the amount spent over and beyond the tax credit was $4,250 per year.
Lori also ate out each day with colleagues, spending an average of $5 per day, five days a week. This results in a nondeductible expense of $1,250 per year. (I would love to know where she ate for only $5!)
Now that Lori has a job, she has to have professional clothing; this means a hefty dry cleaning bill. Ms. Quinn assumed that Lori’s increased expenses here amounted to an extra $1,000 per year, nondeductible, of course.
Finally, with both spouses working, Lori wasn’t in the mood to cook dinner every night. They bought more convenience foods and ate out more frequently. This resulted in increased food costs of a nondeductible $1,000 per year in minimum.
Add it all up and Lori’s take home pay was a paltry $1,156 a year, for which she had to put up with a daily commute, an unpleasant boss, and corporate hassles. (See the following summary of all of these numbers, so you can do the math for yourself.)
No wonder more and more people are starting home-based businesses. In fact, there are currently an estimated 30 million people working from their homes.
This number is expected to more than triple, to 97 million, by the year 2000, and to keep on growing. This has become and will continue to be one of the greatest mass movements in the
Why a Home-Based Business Makes So Much Sense
There are many reasons why so many people are favoring home-based over traditional business.
There is no commute (unless you have a really big home), no boss, little if any chance of lawsuits, must lower overhead, no employees, (or few), and far fewer government restrictions. In fact, many of the laws previously cited don’t apply to small firms with few or no employees. It is for these reasons, according to Entrepreneur magazine:
95 percent of home-based businesses succeed in their first year and achieve an average income of $50,250 per year with many earning much more.
There are really two sets of tax laws in this country. One is for employees, and it allows deductions for individual retirement accounts, 401(k)s (if you have one set up by your company), interest and property taxes on your home (which some in Congress want to do away with ), and charity. Then there are the laws for home-based business people who conduct their business either full-time or part-time. They can deduct, with proper documentation, their house, their spouse, and even children (by hiring them), their business vacations, their cars, and their food with colleagues. They can also set up a pension plan that makes any government plan seem paltry by comparison.
For Lori- and for you- the meaning of all this is simple:
Lori earned $15,000 in salary as an employee, but took home only $1,156. She could have netted the entire $15,000 had she earned it in a home-based business!
This is an increase of almost 13 times her take-home pay as an employee.
Notice that Lori is not spending dramatically more money than she is currently spending. She would eat out anyway, go on trips and drive her car the same as before. By having a home-based business, however, many of their expenses become deductible. This concept is known as “redirecting expenses.” With a home-based business, she can now deduct some of the expenses that she is incurring anyway.
Renegade Strategy 1:
In addition to all the benefits mentioned above, Congress will subsidize you while you are growing your home-based business. If your home-based business produces a tax loss in the first year or so, you can use that tax loss against any other income you have. It can be used against wages earned as an employee, dividends, pensions, or interest income-or you can use the loss against your spouse’s earnings if you file a joint return.
If the tax loss exceeds all your income for this year, no problem. You can carry back the loss two years and get a refund from the IRS for up to the last two years of income taxes paid, or you can carry over the loss twenty years. You read it right: You can offset up to 20 years of income!
Here’s an example:
Renegade Tip:
You can never lose a properly documented business deduction.
In fact, if everyone in the
If all employees in the
Renegade Strategy 2:
Get LUCK- Labor Under Correct Knowledge.
Can You Succeed In a Home-Based Business?
Research has constantly shown that it’s rarely the business that determines success or failure. It is usually the business owner. Why does one person succeed and another fail at the same business?
Two words- Knowledge and Action.
Some people want the benefits of having their own business, but they don’t take action. The result is business failure.
Then there are the people who are always working. They take action but still fail. The reason is that they are not taking the correct actions, the knowledgeable actions that will bring the desired results. Again, business failure.
It’s like drilling for oil. If you set up a drilling rig in your back yard, it is going to fail at producing oil unless your back yard is in
The point is, most people who get excited about starting their own home-based business do so without all the necessary knowledge.
Consequently, many people quit before they acquire, through experience, the knowledge they need, without realizing that they are getting substantial tax breaks. This leads to another strategy….
Renegade Strategy 3:
Learn to duplicate the success of others.
Duplicating the strategy of others is much quicker and more effective than going to the school of hard knocks.
It is also known as modeling, which is well-illustrated by the way The McDonalds Corporation blazed a trail to success that many have since followed.
In the early 1950’s McDonald’s and other start-up companies discovered that they could grow many times faster than the conventional firms through franchising. Instead of the company investing millions of dollars to build new stores, they let independent franchises do it for them.
It seemed like a great idea, but at first no one figured out how to make it succeed on a consistent basis; therefore, the media attacked relentlessly and continually. News articles featured destitute families who had lost their life savings through franchising schemes. Virtually every state attorney general in the
Over the years, however, Ray Kroc and his management team at McDonald’s developed a turnkey franchise business team at McDonald’s franchise. The newfound success- from the system- turned public perception of franchising around. Today, virtually every franchise business models, to some extent, the franchise business system created by McDonald’s, making franchising one of the most respected ways of doing business in the world.
Modeling is simply learning what other successful people have done to achieve success in a specific area, and then doing the same thing.
Someone said that “education is the shortcut to experience.” With modeling, you literally leverage your own learning with the collective years of learning through experience of many others. Modeling the success of others saves both time and money and reduces frustration and stress.
The light at the end of the tunnel, for you and millions of others today, is the financial opportunity that starting your own business offers. If you have one going already, then make sure you are enjoying the many financial advantages to which your smart choice entitles you. The tax advantage alone can make a home-based business the single best financial move you could ever make.
By Sandy Botkin
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Everybody wants to make more money. That is a straight fact. The keyword “home business” is one of the top 5 most searched terms on Google. So which company out of the millions should you choose?
Wealth Masters International has been around for four years and has grown twice as fast as Emerald Passport did. Their
These alliances are introduced at the conferences allowing many average people to get investments usually reserved for the ultra-wealthy. Some these include private placements, IPO’s, and Real Estate Investment Trusts. WMI’ s products are $1500, $8500 , and $13,000 with commissions of up to $1000, $5000, and $8000. WMI does not use a 2-up compensation plan. Their reps make money on the first sale with the advisor making a residual income on every product sold. This is a one level deep residual income plan. Many people prefer this to the 2-up as the advisor is always rewarded for assisting the associate and the associate can make money right away. It is also the only Direct Sales company with true residual income meaning you do not have to start over every month. The only possible downside to WMI is they lack a little sexiness but they attract a higher level prospect due to their product line and content.
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Instant delivery to your readers’ desktops or online reader: Instead of relying on your readers to book
No spam competing for your readers attention: One challenge faced by email
Specialized search engines and directories where you can promote your RSS feed: RSS has grown in popularity to the pint where there are directories and search engines such as Technorati and Google Blog Search that focus on blogs and RSS feeds. When people from your target audience search for the type of content you offer in your feeds, they can easily find you in these directories.
Best of all, RSS is now very simple to use. You can create an RSS feed through software on your blog – both Blogger and Typepad generate a feed for you and tell you how to use it. You can also use a site like www.feedburner.com to generate a piece of html code that you can insert in your blog template. Check out your blogs “help” section for details.
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Here are quick and easy ideas to increase visitors to your blog:
Leave positive comments on other blogs that cover a similar subject to yours.
Make sure your content is relevant to what you’re trying to do. I.e., if you have a blog on home based business, don’t post content on growing vegetables. You’d think that was obvious but you’d be surprised. Don’t ever try to sell directly from your blog. That’s breaking one of the cardinal rules and your readership will plummet.
Ask readers to leave comments (just be sure to approve them all for content before posting them). A little controversy can be good, but you don’t want to offend too many people.
Include a pole or survey on your blog. Choose something topical and change it regularly.
Become a recognized expert in your area of choice. There are forums for everything so find your niche and post regularly.
Be sure to include a link back to your blog.
Encourage your readers to subscribe to your RSS (Really Simple Syndication) feed and also promote your RRS feed to sites that allow submissions.
Optimize your blog for the search engines. Blogs that contain first the appropriate keywords and second, regular fresh content are huge favorites of the search engines. You’d be crazy not to do the research and find the right keywords that your target audience is looking for. Then make your blog keyword rich.
Find similar blogs and exchange links. It’s a tried and tested method.
Adrian McCluskey is a highly experienced home based business entrepreneur and online
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Most economic experts agree one of the biggest challenges facing North Americans today is personal debt. We are a society that believes in and practices instant gratification. North Americans owe more money now than ever before. Installment debt, including auto loans and credit-card balances topped a record $1 trillion in 2007 - a one-third increase in just the past two years. Over the past decade, total household debt has soared from 80 to 93 percent of annual disposable income. More people declare bankruptcy each year than graduate from college.
The situation today is polar opposite to the one our grandparents faced. A generation or two ago, grandma and granddad paid cash for just about every thing. They would have a mortgage and monthly bills and that was usually it. If they wanted something else, they saved for it and purchased the item in cash. Credit cards hadn’t been invented and the banks were not the hyper-competitive organizations they are today.
Nowadays, if we want something, the likely plan of action is to whip out the credit card or make a mad dash for the line of credit, make the purchase and bring it home (I used to be just as bad as the next person). The small details of how to pay for it or even how much more it’s going to cost us because of the interest on the loan are conveniently pushed aside in a rush to watch the football game on the new hi-definition big screen. North Americans are bleeding their financial health away by ignoring the long term ramifications of their purchasing habits.
It’s a sorry situation but our subject is running a home based business - not debt management. So what the heck you may ask, does this have to do with starting and running a successful home based business. Plenty actually because millions are searching the internet looking for a business opportunity not only because it offers the great lifestyle but also the potential of big earnings to help get them out of debt. An honorable goal by any standards and one to which we can help; especially if we are fine tuned to the needs and wants of this new breed of prospects.
Those of us lucky enough to work in the home based business industry know the benefits, both financial and lifestyle that make it so appealing to the masses. If you’re lucky enough to find the right opportunity, put in the necessary time and effort to give yourself an excellent chance of success, then a six or multiple six figure income (or higher) is absolutely realistic. Combine that with the fantastic tax advantages that come from operating a home based business. Then add the investment power your added income gives you and you can be on the way to complete financial freedom in as little as five years. Packaged correctly and marketed to your prospects, this is an irresistible combination that can increase your sales to new and exciting heights.
One of the best ways to benefit most from this wave of prospects is to be creative in how you help your less affluent prospects get started in the business. Something as simple as a taking the time to connect properly and instill a sense of belonging or a little well-placed advice on where to find the funds to get started may be all that’s required to sign up your next star consultant. Some entrepreneurs suggest it’s not worth your time dealing with folks who haven’t got the funds to get started immediately but I will suggest just the opposite. While it’s true that you do get a lot of tire kickers and wannabes taking up your time and screening is a necessary evil, everybody has heard the tales of consultants who went from rags to riches and made fortunes in this industry even though they started with next to nothing but desire to succeed and a little help along the way. Wouldn’t it be nice to have one, two or several of those on your team?
Debt levels in North America are forecasted to continue rising. This means a steady stream of prospects looking at starting a home based business as a means to eradicate their financial concerns and to facilitate a move to a life of abundance. A savvy home based entrepreneur that puts him/herself in a position to offer an attractive business model combined with a compassionate approach that is sensitive to the needs of the prospect will see the benefits of vastly increased sales.
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With the odd rare exception, top income earners in the home based business industry use pay per click (PPC) advertising to generate leads for their businesses.
I wish you the best of success.
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