3 Myths That Kill Home Based Businesses

The phenomenal growth in home based businesses has stunned even the most optimistic economists. But there is no need to have an economics degree to see the reason. With jobs in the US constantly drying up week by week, formerly employed citizens need some fashion to produce income for themselves. Some of my Human Resource friends have reported to me that they have 50 – 100 applicants per available position. Job searches are extremely frustrating and unbelievably discouraging. Men and women need some avenue to feel like they are in control of what’s going on, and not simply at the mercy of an unbelievably bad economy. Additionally, there are the still employed millions who are fearful of losing their jobs. These two groups are surging in growth, and directly establishing home based businesses by the thousands every year.With the unprecedented growth of business at home, comes also the mystique and misinformation which arises from such rapid acceleration. Here are three significant myths that you will find, which accompany many offers for home based or online businesses.1. You don’t need a mailing list. Let’s face it. Traditional businesses build their clientele through massive marketing. The essential truth is they must have clientele. These are customers that they secured by one or more pieces of advertisement. Traditional businesses must have a list. Home based businesses and online business are exactly the same. Do not let anyone fool you into thinking otherwise. Without a list, your business is dead in the water. As an owner of several businesses, both online, as well as brick and mortar, please understand what I’m saying. Customer lists are necessary. Developing a good customer list is really your number one job. This will be accomplished through 2 means in your online home based business. First, anyone who makes a sale must be funneled into your list. If you don’t capture their email address or their physical address, you will have almost no method of marketing to them again. The second way to build your list, is through what is commonly called a squeeze page. That is simply the industry jargon that describes those digital pages where a company or individual offers you a free report, or e-book, or DVD, or some premium in exchange for your name and email. When a customer submits their name, you can thank them with the free report that you promised.. It must be of good quality. After all, if you don’t give them something good, they will never buy anything from you.2. You don’t need to know how to sell. I have so may clients who come to me with this preconceived notion. It is as though they feel since they are not direct selling, then they don’t need to know how to sell to those who visit their web pages or their offers. Nothing could be further from the truth. So let me just state here, the key to all salesmanship is trust. That is true whether you are a door to door vacuum salesman or a used car salesman. All those who sell face to face must know how to develop trust if they are going to make the sale. But don’t kid yourself into thinking that does not apply in online sales. It’s just that with online sales, the task of developing trust is accomplished by different means. The process is different, but we’ll have to save that for another article.3. You don’t need some capital. You always need capital. Once again, anyone who tells you differently is just out to sell you something (that isn’t worth what you’re paying for it). No matter what, capital is a requirement. But not all capital is measured in dollars and cents. While having money is important, especially if you want to “jumpstart” your advertising campaign, it is not the only kind of capital that is necessary. 2 other types are as significant. You must have some time capital. Unless you have unlimited financial resources, you are going to have to put time into your new online business, And typically, the less financial capital you have, the more time capital you need. And I’m not only talking about time to invest in the actual working and running of your business, but also the time to let your advertising and marketing work. The remaining type of capital you need is emotional capital. You will have set backs. You will invest money that you lose, and will not get back. You will spend time on some projects that will not give you a very good return. On those days, and trust me when I say they will come, if you don’t have sufficient emotional capital, you’ll be ready to quit. And you just may do it. That would be the worst result of all.So as you consider your home business possibilities, do not fall into the trap of any of these myths. A home based business is a challenge. It is not a cake walk. It is not a day in the park. But it is among the most rewarding things you will ever do, if you see it through to a successful conclusion.Here’s to your monumental success!

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