Home-Based Business – Why A Home-Based Business Is So Rewarding

Being employed by a company is pretty cool. Owning a business is even cooler. But owning a home-based business is fantastic! There’s a ton of home-based businesses you could create starting today that will give you more than you could ever imagine! I am going to explain my top 3 reasons owning a home-based business is so awesome, relaxing, and most importantly rewarding! There’s so many more reasons that I could list so if I leave one out that you think should be on here, don’t worry! These are only my top 3, however not in order!

  1. The Money – Everybody loves money. Money makes the world go around. My fiancĂ© told me when I started my own home-based business that being rich isn’t the foundation of life. She’s right. Being rich is definitely not the foundation and purpose of life, however, isn’t it apart of the journey to at least try? If not rich, how about just successful? Trying day in and day out to be successful, be remembered, be rich, and helping others at the same time is all a part of the pleasure, enjoyment, and adventure of life! With a home-based business you can definitely achieve all of those things! Even if you don’t get rich you will be very successful and not have to worry about paying the bills from owning a home-based business!
  2. The Time – If you own your own home-based business, you are your own boss! Nobody is going to tell you that you need to get something done at a certain time. You decide when to do something, how well you do it, and the purposes of doing it. Therefore, no busy work! From being able to do this, you achieve time! Time, to spend with your friends and family or go on vacation! You don’t have to rush through those things so you can hurry and get back to the office and catch your overtime hours so you can pay the bills this month with ease. I personally, have a two-year old daughter and I love the fact that I didn’t miss her birth, her first words, the first time she crawled, the first time she walked and catching her before she fell, the first time she spoke, and all the other “first times”. I have had the privilege of watching her grow and will continue to watch her entire childhood, all from my home-based business! I am very grateful!
  3. The Education – This one may seem odd, but for me, it’s the furthest thing from it. I love learning and always have! If you own your own business in general you will have the opportunity to constantly learn new things every day. When I first began my home-based business I knew absolutely nothing about the industry I was involved in. But I made a commitment to learn it so I could enjoy retiring at 30 years old and achieve the previous 2 rewards. Even now, I think to myself on a regular basis “Wow, I’ve mastered this industry and my business growth!” Turns out, I haven’t and probably never will. But that’s not a bad thing! I get the opportunity to learn more and more and when I think I got it all down, I learn even more!

A home-based business is not for everyone! There are a ton of cons related to it such as lack of motivation makes it difficult to get things done which in turn, makes it difficult to make money! Plus, generally home-based business owners don’t get rich overnight, I’m still very far from rich. Therefore, most entrepreneurs give up! They lose all the money and time they invested! If you think a home-based business is something you want to get involved in, make sure you’re making the right decision. Although it’s rewarding, it’s also very challenging and often time difficult if you don’t know what you’re doing at first. But if you’re the type that’s willing to learn, take action, and accept a few headaches you should do fine in this industry!

How Systems Facilitate Business Growth

A business can be viewed as a collection of inter-related systems. And the creation and management of those systems is the process of building a business.

Why Systems Are Critical to Business Growth

Systems are the only way to build a sustainable business and here is why:

  1. Systems are predictable
  2. Systems allow for delegation
  3. Systems can be measured
  4. Systems can be improved
  5. Systems can be scaled
  6. Systems can be automated
  7. Systems create a business that you can sell

Let’s look at these concepts in more detail and see how they fit together.

1. Systems are predictable

If you have systems in place you know what’s going on inside your business. Without systems all you have is chaos and you’re reacting on a daily basis to what’s happening in your environment.

This predictability also means that your customers or clients know what they are going to get from your business. You can repeat your product or service delivery again and again and again. This builds trust with your customers and encourages them to keep coming back for more.

2. Systems allow for delegation

With systems, you can train other people to operate them. Delegation allows you, the manager or business owner, to focus on the whole business. This gives you an opportunity to plan for the future, or discover new opportunities etc.

Without delegation you only have so many hours in a day to deliver value.

3. Systems can be measured

When you have a system in place, you now have an opportunity to measure what’s happening. For instance, how long does a task take to complete on average, how many leads did our advertising campaign generate and what did it cost to produce this unit, etc.

4. Systems can be improved

What you can measure, you can improve. How might this be useful? Well there are only a few basic ways to improve your business profits. Reduce your costs. Become more efficient at what you do. Charge more. This is an important way in which systems can help in the running of your business.

5. Systems can be scaled

With business systems, you can scale them to suit the changing needs of your market demand and environment. Which leads us on to point six.

6. Systems can be automated

Once a system has been designed, measured and operated for some time, you may have an opportunity to automate it. And automation is often a way of reducing costs, improving operational efficiency and creating predictability (see point one above).

7. Systems create a business that you can sell

If you are a business owner and you may at some point in the future want to sell your business, it has to be based on systems. Why? Well, if it isn’t based on systems all you are selling is a job. And why would someone want to buy your job?

How to Prevent Your Web Business From Melting Into Oblivion

One day, over 700,000 websites went crashing down, rendered completely inactive, all because of a serious and deliberate attack on the entire InMotion Hosting company. What seems to have happened is hackers copied over the index.php in many directories (public_html, wp-admin), deleted the my images directory and added index.php files where they weren’t needed. Many of these 700,000 websites represented the day-to-day livelihood of many of InMotion’s hosting clients. For sure, there would have been a number of business owners who would have closed or shut down because of what happened.

Now, if these affected online business owners had a backup of their website, they could then upload their index.php files to correct this problem, which they’ll have to do for each directory. If their site used an index.HTML or index.htm, they will need to upload those files, then delete the index.php.

I don’t really know how many did keep a backup of their website (if you personally haven’t, please do, today!), but I do know this; if my entire online business crumbled today, went into meltdown, I’d be up and running and making profits in a fairly short period of time. All because of a couple of very important things.

1. I have secure backups of all websites.

2. I have all customer names, both email and postal addresses, stored in a secure place, both electronic copies and manual copies.

The fact is if the customer names are intact, I can be up and running and in business tomorrow, and run it from a space as confined as a phone box. And I mean that quite literally. All I need is a laptop and a small amount of space to work from. The key is having access to all customer files. So, the first thing I would do to create a little momentum and activity by creating a simple direct mail promotion to send to my customers.

Now in addition to having access to your important customer files, the other essential thing is in ensuring you have a back-up storage of all your customers’ details, which must be kept in an external, remote place (not merely stored electronically). Doing this is the most valuable thing you can do because your customers are, quite literally, your entire business. Lose them and you’ll have to start all over again. But you can avoid that pain, frustration and heartache by simply ensuring you have your customer files, their records, their complete details backed up and stored in a safe, remote, external place.

When the World Trade Centre Towers were destroyed, the businesses that were able to pick up the pieces from the obvious devastation were those business who kept their customer data files intact. And that was the key because when the time was right, they were able to communicate to their customers and clients in order to start the business wheels churning again. And that’s despite the fact that their buildings and offices were sent crashing to the ground.

If it wasn’t clear before, it should be very evident to you now that the majority of a business’ wealth, value and future income is stored in their customers and clients. They are the biggest assets a business has.

In fact, because I started my business activities via direct mail, well before the Internet really took off, I have to say that I probably have an unfair advantage in knowing the true value of my customer/client names and of the absolute necessity of keeping my customer records safe, in order, and secure.

Now if you haven’t yet done so, please ensure you do the following two things, today.

1. Back up all your website files, images, directories.

2. Transfer your entire customer’s details, records, etc. onto a spread sheet – maybe using something like Microsoft Excel – and then print everything out and store it in a physical folder. Then lock this safely inside a filing cabinet or drawer.

If you do these two things and treat them as a matter of high importance, and whether you continue to carry them out every week or every 10 days (or sooner if you have a high level of activity in your business) then you’ll find that even if your online business was to go into meltdown today, you will be up and running and ‘in business’ again tomorrow.

Having a successful online business is like no other business on the planet. I wouldn’t swap it for any other kind of business, ever. However, I am fully aware that the most precious asset I have are my customers. If I neglect them, I’d be a serious candidate for the bankruptcy courts!

So whatever you do, keep your customer records safe and secure.