Starting Your Own Business?–Here Are 8 Powerful Tips Pt. 2

PART 2

Miss part 1? Click Here.

One powerful life changing phrase

When faced with enormous challenges many people dislike hearing about “positive thinking.” Because when nothing’s working it’s easy to believe that nothing will work. Instead of rising to the occasion, some people shut down. All problems, no solutions.

But here’s a quick and even life-changing phrase for you; you are either problem conscious or solution conscious. It’s all in your focus, which sometimes must be consciously switched out of your unconscious mind. Yes, it is that simple.

How to boost your creativity

Your creative mind knows no limits. If you’re problem conscious, you’ve switched off much of your creative processing. When you shift to finding solutions, experimenting, asking questions, and researching, you’ve turned on the most valuable source you have, your creative mind. I call this Your Inner Wizard.

You can switch on your creative mind by paying better attention to your intuition. That little voice that says, “go here instead,” “call this person now,” “post this in Facebook today,” etc. Learning to pay attention to your inner voice can literally save your business and even your life. It has for me, literally.

The Two least expensive entrepreneurial opportunities available today

There is an embarrassment of riches available to you if you live in a free society. There are many inexpensive methods to help you to be in business for yourself, even in a negative economy. I’ll focus on the two best platforms.

These are two golden doors to entrepreneurial prosperity that open to glittering goldmines of opportunities that any budding entrepreneur can tap into. But caution; all that glitters is not gold.

Either or both of these opportunities may seem distasteful to some people. Primarily because they’re so prevalent and filled with promise, it may seem like everybody’s relative, co-worker, minister, rabbi, bank teller, doctor, or shaman have been involved in one or both of these types of business.

If you’ve seen others close to you try and fail in these formats, it can be tough to overcome a negative image. Or, like my dad said after my mother failed at selling soap when I was a kid, “Those deals don’t work.” Fortunately someone convinced me that some do. Some did.

They are also the most likely potential opportunities  to be abused. The exaggeration, misinformation, downright lies, and unrealistic expectations have lead to the biggest entrepreneurial casualties on any business battlefield in history. Yet there really is gold there, lots of it when you know how to find it.

There are enough truthful examples to get anyone considering entry excited. But caution is the watchword. As with any substantial opportunity, challenge and risk are always present. The good news is they are easily overcome. The bad news is they will keep coming, which is true with all businesses. If success were easy everyone would be doing it.

But just remember what Albert Einstein said, “Condemnation without investigation is the height of ignorance.” We all have built in prejudices about things that may have changed. Also, we change and our knowledge is better and our intuition sharper.

The first one is the latest and the potential gold mine of all entrepreneurship. Internet marketing, online selling, or web based business.

Anyone with a computer or access to one can enter this marketplace. There are so many free or inexpensive services that the entry cost can be as little as a few dollars. But the reality here is that you will ultimately have to spend money to make money, but in this case, especially if you’re on a tight budget, not much.

You also have to use your discrimination when purchasing how-to courses, software, books, coaching, etc. Anyone promising the magic “push button” marketing tool should be eyed with extreme caution.

Anyone can market online, even if it’s other people’s products. This is called affiliate marketing, and is the most likely place to start and even continue in any successful business.

Clickbank.com has paid out billions of dollars from tens of thousands of information products for sale and will pay you to market them too. There’s no charge to open an account.

Another large affiliate resource that handles physical products, most drop shipped for you direct to your customer, is commission Junction. This is for the more experienced online marketer, but worth checking out and opening a free account to lean more. www.cj.com

Physical product affiliate marketing companies like Amazon will set you up with your own affiliate business, also at no charge. You get compensated for every sale, made via your unique links.

Of course you can market and promote your own existing business or products too. Some have taken their limping businesses to gigantic heights via the Internet. One of the best examples of this is Gary Vaynerchuk.

In 1999, Vaynerchuk took his dad’s local New Jersey wine store online and grew it to a $60 million dollar a year business and beyond. His early use of social media, which was barely developed, plus his own ingenuity has made history. Then, 90% of the tools we have today were not available to him. It’s so much easier now.

Your mommy may have to wash your mouth out with soap after you hear this one; MLM or Multi-Level Marketing, and frequently referred to as network marketing.

 Who hasn’t been hit with the latest greatest deal from Uncle Fred, your old college buddy or your best friend? It seems like it’s everywhere. It is. MLM is a multi-billion dollar worldwide industry.

In MLM the promises are great, individual failures are enormous. The latter due to two reasons, the aforementioned rejections and choosing the wrong opportunities for the wrong reasons.

MLM has suffered considerable image problems because it’s been around the longest. But also because they’ve accumulated more lies, exaggerations, distributor and business failures than almost any other industry in the free market system.

Until about twenty years ago many unsuspecting distributors were conned by unscrupulous companies/distributors to load up their garages with products that didn’t see the light of day until they were sent to dump grounds. In the US and other countries, stiff laws have now been enacted that largely reduced this type of fraud and abuse.

Unlike Internet marketers, MLM distributors operate under the guidelines and strict rules of the companies they represent. Those who try to be simultaneously involved in multiple companies are almost certain to fail.

There are innumerable products and services available from legal services to nutritional products, the latter being the most common. High profile investors such as Donald Trump and Warren Buffett have entered this industry. Larger corporations are seeing advantages to introducing new products via this platform.

If the MLM distributor makes a commitment and sticks around long enough, he or she can be wildly successful. This takes the right combination of effort, the right company, products, and support, but it happens with greater frequency than most people realize.

Note: many new companies teeter close to failure for some time. MLM companies younger than eighteen months old have an abysmal failure rate. You have to do your research about both the company, the founders, and your support team (called an upline) of distributors. Of course being first in with an exciting unique product can have rewards too. It’s all about the risk/reward ratio.

Important, you don’t have to accept the first person who invited you into a company. You must choose a sponsor carefully. Of course you may choose to go with a good friend who’s also new, but find out who their sponsor is and what their upline offers. Uplines represent one of the dual support lines that distributors have, the other being the corporation.

While there is plenty of free online training for both types, the MLM distributor, when working with a substantial MLM company, can have a great deal of support, both in training and motivation. This can be immensely important to the first time entrepreneur.

The Internet marketer is largely free of these constraints, once he or she understands the techniques to marketing. They can create their own products  or market their other people’s  products through affiliate marketing.

In both areas the failure rates are high because entry is cheap and easy. They are not only easy to enter they easy to leave too. Small investments create little risk, and when it’s not as easy as thought many simply quit. They now believe that, “Those deals don’t work.”

There are thousands, maybe tens of thousands of modest to great success stories here. Of course many try and most give up too soon. It can be overwhelming at first.

But with enough research one can find the blueprints, the step-by-step plans that will make a difference in being able to pay the mortgage to buying new digs in a better neighborhood.

Both business platforms have their share of  pluses and minuses. The phrase “Companies don’t fail, people do,” has never been more evident.

How to work alone and yet have support

One of the great challenges to being an entrepreneur, especially a solopreneur, this is, working without partners or employees, is support.

You are not alone, at least you needn’t be. There are online forums, (just Google your industry or interest followed by “forum”) to seminars, mastermind groups, all available for the finding. Facebook, Linkedin, Google+, and many others have special interest groups from the obscure to the current trends. Most of which welcome newcomers.

But do this too; get out! Leave your computer and go to seminars, local networking meetings, social groups, anywhere there are people who will talk with you, even if it’s not about business. People have power, no matter who they are. One introduction can change your life. I know it consistently has for me.

How to avoid becoming an entrepreneurial “casualty”

First avoid “get rich quick” deals, offers, books, training, push-button success promises, etc. Don’t be a sucker!

If you’re offered an opportunity, ask tough questions of either the person making the offer or through online research.

Have realistic expectations based on your research. Even the best MLM is a long term proposition to make enough for your car payment, let alone your living expenses. The opportunities on the Internet have greater potential for some short-term income. But both should be looked at as long term opportunities with learning curves that will vary for each individual.

The ideal time to begin either of these opportunities is while you’re still employed, or you have enough revenue to keep you going. While there are some legitimate stories of those who made fast money, even ethically, you can’t know all the truth behind the story. Some may have begun with a substantial list of prospects or were helped by someone who did.

However, now, more than any other time, the tools and marketplace (customers) for all entrepreneurs have never been easier to tap into with greater potential than we have today. It’s growing exponentially too. But…

Why some may not want to be an entrepreneur…ever

Many feel safe having an employer, even if things are uncertain. Unlike our parents or grandparents, there is little job security today. Authentic security can come only from within.

The world needs good employees. They serve us all. From waitresses to Fortune 100 executives, these people make the world work. Entrepreneurs give them a place from where to do this.

Of course most people who need “job security” haven’t read this far, if at all. But just in case, for those who did, you may never want to be an entrepreneur, ever. But you may want to explore the possibilities.

Regardless of the business you’re in, the Internet should be an internal tool for promotion, sales, and customer relations. As an entrepreneur, there is no better way to communicate, brand you and your business, and create relationships with current and future customers. But…

Remember this, there are no overnight successes, only overnight failures.

You can also join me on www.Facebook/TomJustin and www.Twitter/TomJustin

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