3 Essential Elements of Operating a Successful Business

Thursday, September 6, 2007

Have you ever imagined what it would be like to live your dream?
A good place to start would be to recognize that there are three
elements, and only three elements, that separate success from
failure. If you exercise one of the elements, you might just be
successful. Two and you will probably succeed. Three, and you can
practically guarantee your success.
What are they? They are deceptively simple, and deep down inside
you know what they are. But to purposefully write them down and
use them as guides in selecting your dream business will make all
the difference in the world. As you go through this exercise, you
will dramatically build on your chances of success. Nowhere will
it count more than right here, deciding how many of the three
essential elements will qualify you to realize your dream.
1. Find a need!
Is there a market niche for your particular product or service?
Does the world, or even your community, need what you have to
offer? Only by sampling and testing will you be able to determine
this with any degree of certainty, but we will be covering this
as we go along in greater detail. The most important aspect would
be to determine a Unique Selling Proposition for your product or
service. Too many business owners are just trying to be me-too
companies. You cannot be just like the next guy and expect to
prosper in this volatile economy.
One of the most important things I learned from my Dad was, there
are really only two things to consider, and next to them
everything else is minor. Those two things are: (1) What do you
really want? And just as, and perhaps even more important, (2)
Are you willing to do whatever it takes to achieve it?
What do you really, really want from this endeavor? What is your
ultimate goal? Are you willing to do whatever it takes to achieve
this goal? Instead of looking for a business based on how much
money you can earn up-front, select a business based on your love
for that endeavor. The most successful and fulfilled people are
individuals who are following a dream or vision of their own.
They are not just out trying to make a buck.
What opportunities can you act upon? Woolworth saw a need for
small inexpensive items and opened the chain of stores that
grossed billions. Wrigley started giving gum away as a bonus, and
seized the chance to expand worldwide.
You must create a uniqueness to your product or service. What can
you offer that no one else can offer? Is it a better warranty,
improved customer service, more technical support, faster
shipping, or lower price? Think of something that will set you
apart from your competitors and describe in detail exactly what
it is.
2. Be good at what you do.
Are you as good as, or better than, the next guy when it comes to
producing/marketing your product or service? This element
requires an honest self-assessment. "What are my abilities?" To
determine your abilities you must take an honest inventory of
yourself. Examine every possibility and be sure to include
strengths and weaknesses. Will your strong points be able to let
you overcome your deficits?
3. Have true passion for the business.
If there is one element you absolutely cannot do without, it is
passion. Passion is an irresistible attitudinal energy that
generates power. Do you have a passion for working with your
particular product or service? Notice, I didn't say "do you like
what you want to do?" There are too many competitors out there
who are ready, willing and able to "eat your lunch" when it comes
to competing with you. They may have found the same niche that
you have found. They may like what they do as much as you do. But
what separates the winners from the losers is passion.
What are you really passionate about? If your answer is, "I'm
passionate about making a lot of money." That is not the right
answer. Making a lot of money is consequence of engaging in a
successful activity where you remain motivated long enough to be
successful. The key to creating passion is to find and do what it
is that you truly love. Passion is the laser-like focusing of our
creative life force. We do not create passion. (Don't confuse
passion with being a workaholic. Workaholism devours while
passion amplifies.)
So there they are, the three key elements to having a successful
small business.
About The Author:
Michael (Mike) Brassil is author of "The Only Business Start-Up
Guide You Will Ever Need." Download two chapters - Starting a
New Business and The Home Working Revolution - at:
http://www.ImpactGuide.com

Truths and Lies of Internet Marketing
A long time ago you decided that working all the hours God sends every week and being away from your family just has to be wrong. You know what? It is. There is a way to right this wrong and it has to do with the Internet. But you knew that already. So what is the next step?
You have been looking online in the search engines and maybe in the newsgroups and you have seen plenty of opportunities. Most of the hype you read sounds much too good to be true and most of it is. However, there are some real opportunities out there. You just have to know where to look. Don't follow the other sheep, work it out for yourself.
Where do you look? Who holds the keys to this bountiful virtual treasure chest? Do you have a chance at success?
From here on in we'll confirm some truths and dispel some lies which you'll find all over the place online.
Lie: I can earn amazing sums of money online really quick. I can quit the 9-5 within weeks!
Truth: Pure hype reigns supreme on the Internet. The claims of huge downlines, 6 figure incomes overnight and massive mailing lists with no effort are complete drivel. Nothing is easy to make a go of and online it's no different. It's possibly even harder to make your fortune online since the rules are always changing. Staying on top of and driving these changes is where your success will come from.
Lie: Working your online business is easier than working the 9-5.
Truth: Making a true success of your online business is, more often than not, a whole lot harder. You are directly responsible for the amount of money you put in the bank at the end of the month. You will need excellent time management skills and organizational skills. Possibly the hardest thing is the motivation. To get up every day and motivate yourself to switch the computer on, knowing you have to get down to some hard work can be very tough some days.
Lie: My time is my own. I can work whenever.
Truth: Your time is your most precious commodity. There are daily demands on your time from your family and the business of everyday living. Real life carries on regardless of whether you have a spreadsheet to prepare or not. Managing your time actually becomes a delicate balancing act. You cannot ignore your family if you're working at home - and anyway, one of the reasons you wanted to work at home was to spend more time with the family, right?
Lie: My children will enjoy the extra time I can spend with them.
Truth: Still with this time thing. Yes your kids will be happier to see you more around the place but they will also become confused as to why you can't play with them more and may even come to resent this. The delicate balancing act is indeed a thin tight-rope walk and you've got to be a masterful acrobat to pull it off. It can be done however and this shouldn't put you off.
Lie: Build it and they will come.
Truth: Whilst this may have been true in the very early days of the Internet with the most basic of search engines driving traffic, these days nothing could be further from the truth. Building your website and getting it online puts you on the first rung of the ladder. Getting enough traffic to make your website profitable is your next goal. There are many places online which claim to be able to do this for you, only 2-3% of these places will be worth your time.
Lie: The Internet is just one big playground for scammers.
Truth: The Internet, with it's anonymity, is indeed a fertile breeding ground for the more unscrupulous among us. While scammers get all the press there are plenty of real people like you making some nice piles of coin from the Internet perfectly legally. The information revolution is upon us and you better get onboard.
Lie: All my friends and family will want to join me.
Truth: Your friends and family will think you're completely mad. While you may find one or two people who're open to your dreams and visions, most will simply ridicule you so be ready for that. They may not talk about you openly but they will think you're wasting your time. Ignore them and prove them wrong. You can do it. Success is sweet.
At the final analysis, if you want to work at home on the Internet, become truly financially and spiritually free then the odds are not stacked in your favour. This being said, with the fire of determination burning inside you, with the strong desire to enjoy a life of no money worries and more quality time with your family then you will succeed. It takes time, effort and hard choices but you can do it.
Just do one thing every day to improve your position and that's all it takes.
Here's to your ultimate success!

Riley.
About The Author:
Get the complete lowdown on what it takes to build your online business with Riley's "Internet Business Essentials" - How to build, grow and nurture your website and sales process. Online Home Business eBook

The Never-Ending Quest for Home Business Success
When most of us dive into our first home business venture, we are filled with visions of wealth, comfort, security and freedom. We have a general idea of where we'd like to end up financially, and we work hard to get there. Some of us make it there quickly, while others may take a little longer. But at what point would we consider ourselves to be "successful?" Once we're earning a million dollars a year? Once we can afford that mansion we've had our eye on? Once we're wearing designer clothing? Of course, success means different things to different people.
Perhaps to you, success means earning a little extra money to help with household extras. To me it might mean earning more. To someone else, success might have nothing to do with money at all. They might strive for professional or personal accomplishments. The meaning of success can vary from person to person, as can our beliefs about what it takes to truly be successful.
I had an interesting experience last week. I submitted a request for work at home success stories to be featured on my website, and the response was quite surprising. Not one response. That's right, zero! I submitted this request to several popular work-at-home communities, and I purposely placed no restrictions on what "success" meant. I was quite surprised by the lack of response. Are there NO work at home successes out there? I don't believe that for a minute; I know there are many, MANY people working successfully from home. So why wouldn't they want to be featured? What could prevent them from believing they qualify as a "success story?"

Income - Many of us don't feel "successful" until we're raking in massive amounts of money and can afford to buy whatever we want without glancing at the price tag. While money is certainly one measure of success, it isn't the only one. Most of us have an idea of how much we'd like to be earning from our home businesses, but does it mean we're not successful until we reach that point? Of course not! We can be successful regardless of how much we earn. Just because you are earning $500 a month instead of $50,000 doesn't mean you're not a success. In order to earn $50,000, you must first earn $500!

Status - If we haven't quite reached the "level" we're striving for in our home businesses, we may not allow ourselves to feel like a success. "Once I get 1,000 customers, then I'll be successful," we say. Or once we get 100,000 subscribers to our newsletter, or hire our first employees. Whatever status we're trying to reach, we place requirements upon ourselves and won't consider ourselves successful until we meet them. The problem with this is that home businesses (or businesses in general) are not static. We don't just "get there" and then call it good. We will always be striving to gain more customers, recruit more agents, sell more products, earn more money, set goals and reach them. We will always be pushing ourselves to do more, be more. This is a good thing!

Perfectionism - We are so much harder on ourselves than we are on anyone else. Does one little thing keep you from feeling like a success? Perhaps you're earning as much as you want to with your home business, but there are also things you struggle with. Like organization, finances, or coming up with new ideas and seeing them through. Rather than thinking of yourself as successful, you allow those little things you don't do perfectly to hold you back. You berate yourself, "I would be successful if it wasn't for my messy filing system!" or "Will I ever learn how to do this right?" No one is perfect. We all have things we're good at, and other things we're not so good at. Accept that about yourself. It's really not important to do everything so perfectly. We can only do our best and have fun with it.

Modesty - It's true that no one likes a braggart. Perhaps the people who read my request didn't want to appear boastful or conceited by submitting a success story. While modesty is a good thing, is it possible to carry it too far? Does being modest mean we can't take pride in our own accomplishments? Does it mean we have to hide our success? No. There is a very big difference between sharing our success and bragging about it. Braggers try to make themselves appear better than others and put themselves up on a pedestal, while people who share their success in a genuine way strive to inspire others. By sharing our successes, we encourage people to make their own success stories! We demonstrate that it is indeed possible to be successful working from home. What a gift that is!

You may be surprised to learn the actual definition of Success: 1) a favorable result; 2) the gaining of wealth, fame, etc. Most of us use the second definition more often than the first. But take a close look at that first definition. A favorable result. How easy is it to attain a favorable result? Very! Just because your results may not be as large as you'd like them to be doesn't mean you're not successful. If you've attained ANY favorable results, you are a Success!
The most important aspect of success is believing we deserve it. So many of us struggle with worthiness issues. Some of us were told as children that we'd never amount to anything; we internalized that message and continue to carry it with us to this day. Others might be afraid to try because we've never felt quite "good enough." As soon as we start working toward our goals, self-doubts come creeping in and our inner critic starts harping at us: "Who are you kidding? You don't have what it takes to be successful. Just give it up and get a real job!" So we sabotage ourselves, create obstacles to block our way, and continue our never-ending quest for success.
The truth is, we will only be as successful as we ALLOW ourselves to be. The human mind has amazing power. Whatever we consistently tell ourselves is what we will create in our lives. If we don't believe we deserve success, we will avoid it (even though we trick ourselves into believing we're working toward it). If we tell ourselves we're not good enough, we will act in ways that prevent good things from happening to us. The good news is that this also works in reverse. If we tell ourselves we're successful, we will be. If we keep affirming that we're good enough, strong enough, capable enough, we will be. Think about the significance of that. It means it's ALL WITHIN OUR CONTROL. Whatever we want to be, we can.
Don't be afraid to embrace your success, no matter how small you perceive it to be. Remember, any favorable result equals Success!