Is It Time to Remodel Your Business

 I'm hearing a lot these days about business reinvention. And it certainly seems like a great idea. But I think that a complete business overhaul is not only unjustified much of the time, but can be a risky move.

So instead, I'd like to propose the idea of a business "remodel", which is more along the lines of a home remodel. When you remodel your home, you generally keep the existing structure and foundation. The changes are distinct for sure, but do not involve knocking down your entire home. Rather, the remodel may involve adding an addition, repainting a room, finishing a basement, etc.

Likewise, you can remodel your business in distinct and powerful ways that cause a huge shift in your delivery of services, income stream, target market, or visibility as an expert. But a business remodel needs to be justified, strategic, and executed in such a way that the remodel doesn't cause too much turmoil in your business. When you remodel a home, for example, it needs to be done in a way that causes the least disruption to your living environment. Yes, you are willing to suffer some inconvenience in the short run knowing you will wind up with a beautiful newly remodeled home. But you wouldn't plan a remodel that forces you to live in absolute chaos unless you can move out during the construction and find another place to live. Easier said than done!

With your business, you can't necessarily find a new business "home" while conducting a business remodel because you still need cash flow. Sure, there are exceptions for those business owners that saved a ton of money to fund a remodel, but even in that case, it would mean dropping out of the business for a temporary period, which is not going to leave you top of mind with your target market.

So what is the best way to approach a business remodel and what might it include? Here are some tips and guidance.

• Take Stock - Approach your business remodel in a strategic manner by taking stock of where you are in your business at present, and where you'd like the business to be in the future. Assess what you love about your business, what is working, and what brings you and your clients success and results. Also, pay serious attention to what is no longer working, what you have outgrown, and what your clients don't seem to need or want anymore. Only when you have done this business assessment will you be in the right frame of mind to determine what shape your business remodel will take.


• Blueprint the Remodel - Just like you would with a home remodel, you need to draft a blueprint for your business remodel. Add what the remodel will include, how long you expect it take, what players need to be involved, how much money you need to finance the remodel, etc. Consider getting assistance from a trusted advisor during this stage. Approach the blueprint like you would a business plan so that it can serve as the framework for the remodel during the weeks/months/years of the remodel.


• Add On - One way to remodel your business that is safe and smart is to actually add onto it. This can be in the form of an additional income stream like a new service offering, product, or program. It can also be achieved by partnering with another business owner to engage in a joint venture together. It can take the form of offering or joining an affiliate program. The list is as long as your imagination, and what is the best fit for your business.


• Take Away - A business remodel can also include taking something away from your business that you know is not working, is draining your energy or your bank account, is not a big seller, or you just plain don't love offering anymore. In business, we often keep saying yes and piling up things. But a smart business remodel can be about saying no and streamlining or micro-focusing on what truly works, and brings you and your clients great results.


• Thing Big, but Start Small - Once you get the idea of a business remodel in your head, it is hard not to get excited and maybe a little carried away. It is great to be excited and have passion around your business remodel. In fact, go ahead and think big! But then come back down to reality, and start small. Take the remodel one step at a time. Don't bite off more than you can chew or your remodel will crash and burn.


• Mind Your Existing Business - Another common problem with a business remodel is that while you are in the process of remodeling, you neglect your overall business. Make sure that you are still "minding the store" while remodeling. It is easy to get caught up in the remodel, as it is very exciting and usually evidence of where your future lies. But unless you have unlimited funds and a celebrity status, your clients most likely still want to buy from the business you have now. If you absolutely want to be free of the business you have now, then realize that you are not just remodeling, you are reinventing your business! And that is a horse of a different color. If that is what is truly happening, then you will be following a different path. You may need to close shop altogether, sell your business, completely revamp or rebrand it, or get employees or independent contractors to run it for you.


• Roll Out Your Remodel- At some point, your remodel will either be complete, or at least far enough along, that you want to officially roll it out and shout it from the rooftops. But consider that you may want to go public with your remodel even sooner than that. Getting people involved in your remodel can be a great strategic decision. In fact, you can engage your clients in the remodel by asking them to assist in some way. For example, let's say the remodel is to add a service offering. You can survey your clients (and warm prospects) well in advance to see what service offering is missing from your business that they desperately want and need. There are many other ways to get others involved in your remodel, but make sure you do so wisely so you don't scare your clients into mistakenly thinking that you may be jumping ship or abandoning them.


• Enjoy the Remodel Results - If you approach your remodel wisely and execute it strategically, you will be able to enjoy the results - and so will your clients!

Starting a Business in Texas - A Basic Overview

Starting a business can be both exciting and stressful to any business owner. Many businesses who do not have the proper funding and appropriate planning frequently fail within their first year. This statement can either frighten a business owner or push them to plan better for the rough times ahead. Often the most successful businesses have good business plans and are prepared for any complications that may arise. One way of preparing is by deciding which type of business entity you will own. There are different types of legal structures or entities available for business owners in Texas. Here is a list and overview of each entity:

Sole Proprietorship

This type of business entity exists when one individuals owns the business and all the business assets are under the business owners sole ownership. In Texas, a sole proprietor is liable for all debts of the business. The business owner is also liable for any debts incurred by the business, meaning there are no personal debts and there is no need for the business to file a separate tax return. All profits and losses are the owners responsibility. The business ownership is also non-transferable and cannot be sold to another person. Most businesses are listed as operating under the name of the owner in Texas. When a business wants to use a name other than the owner's, it must complete an Assumed Name Certificate and file it with the county clerk in their area. The county clerk in each county uses different forms but the information needed for each certificate is the same. Each business must provide a business name, address, city, state, zip, business type and expected period of operation. The personal information of each owner is also required. Again this business structure makes no separation between business and personal debts or liabilities.

General Partnership

A General Partnership exists in Texas when two or more individuals or businesses form a business. In Texas, A general partnership creates a separate business entity for the business, that is separate from the owners. However, creditors can still reach the partners personal assets to pay for any outstanding debts. In most general partnerships, each general partner is given an equal share of assets and liabilities in the company. A separate tax return is filed by the partnership and each general partner is responsible for the debts of the business. In Texas, a general partnership can operate under the owners names or it can chose a different name that must be registered with the county clerk. In Texas, all general partnerships must file an Assumed Name Certificate with the county clerk. Using the Assumed name certificate is also known as a d.b.a (doing business as). Each general partnership must file this with the county clerk where the business will be maintained or conducted. The information required is the same as the Assumed Name Certificate in the sole proprietorship section.

Limited Partnerships

In Texas when a partnership of two or more persons or entities combine to have one or more general partners and one or more limited partners, a limited partnership is formed. A general partner is defined as a partner who shares equally in the assets and liabilities, but a limited partner only has limited liabilities or debts. All limited partnerships in Texas must be registered differently than general partnerships or a sole proprietorship. In Texas, each limited partnership must be filed directly with the Secretary of State

Limited Liability Partnership

In Texas, a partnership may also file its business structure as a limited liability partnership that allows certain partners to be limited in their liability towards debts of the business. Again this type of business must be registered directly with the Secretary of State.

Limited Liability Company

In Texas, this type of business entity is unincorporated but does have certain aspects of both an S corporation and limited partnerships. The LLC has protections set for the owners and has certain tax benefits not given to the S corporation. Limited liability for owners and pass through taxation are the biggest advantages of this type of formation. Owners are protected from most personal liabilities but there have been cases where the courts can find the owner using the company as an alter ego to elicit fraud and may find the owner liable personally. Business owners need to follow specific rules regarding their personal assets and business assets.

Online Resource For Small Business

Small business online refers to resources available to small business owners via the Internet. Many financial companies provide information on funding resources, business laws and terms, and management advice for small businesses. These sites enable business owners to make sound business decisions to increase the likelihood of their success.

One of the main reasons individuals looking for business online resources is to find information on ways to finance a start-up or existing business. Most lenders, including commercial banks, the Small Business Administration (SBA), and non-traditional financial companies, now provide detailed information regarding the different funding options provided. With these sites, business owners can find out if they qualify for a certain loan and compare loan terms to other available financing options. These lenders typically provide secure online loan applications as well, making the approval process faster. However, for loans that require any documentation, these may have to be faxed or mailed to the lender before the approval process can begin.

Small business online lenders also provide financial management advice to growing small businesses. From other financial websites, entrepreneurs may also be able to access glossaries of common business terms, lists of business laws, and the most up-to-date news, including stock reports. Many of these websites may provide forums that allow entrepreneurs to connect to others with similar interests to exchange ideas, opinions, and advice on business matters. Connecting to fellow business owners can help entrepreneurs to make better business decisions.

A small business online resource is a website designed to aid small business owners in every aspect of entrepreneurship, including finances and management. Most lenders, including the Small Business Administration (SBA), commercial banks, credit unions, and non-traditional loan providers, offer websites to inform business owners on different types of loans and their requirements. Other websites are run by financial companies who specialize in assisting businesses with financial counseling and management tips and advice.

A lender's small business online resource typically lists all available loans and the requirements needed to apply for one of these loans. These websites may also allow business owners to apply via a secure online application to accelerate the approval process. However, if a loan requires financial documentation, these may have to be faxed or otherwise sent to the loan provider before the approval process can begin. If a business owner already receives funding from a lender, he or she may be able to access information regarding that funding online. Borrowers can check interest rates, repayment plans, and the amount still owed.

Other small business online resources provide financial counseling and management tips to help businesses succeed. These websites offer step-by-step guides for accounting processes and business plans, glossaries for common business terms, and hundreds of articles with ideas on how to improve profitability. Business owners may also be able to join a forum to give and receive feedback amongst fellow entrepreneurs.

Going Into Business - Is it Right For You

Many of the queries my small business advisory practice fields every day relate to people, who for one reason or another, are considering going into business for themselves. Their first concern is usually about what business should they start, but really their first concern should be about whether they should go into business at all.

At first glance, this may seem a little harsh. In some respects, it is meant to be. Many of the people who ask me this question, are often in dead-end or personally meaningless jobs, or they are under financial pressure, and are looking for an escape hatch. As a result, their view of of what it means to go into business is tainted by the rose-coloured glasses they are wearing and their romantic notions about what working for themselves will be like.

This is typified by statements such as 'I can get out of bed and work whenever I like', 'no-one can boss me around', 'I can have a day off whenever I choose'. It is not that these things are not noble pursuits, it is just that the harsh reality is before all that can happen, you usually have to have put in the hard yards. Many small business owners work extreme hours, under intense pressure, often juggling more than one role and usually for many years before they can indulge in such pleasures.

The last thing budding entrepreneurs need is to be discouraged, as there will be plenty of motivation killers amongst their families and friends. What they do need is some assistance with the removal of their rose-coloured glasses and the attendant emotion. They need the ability to see the situation as it is and tools to help them make decisions based on hard facts and not on emotions. It is important to assess, up-front, whether going into business is right for them, and if it is, that they then go into business right.

Undertaking a thorough and honest self-assessment can assist with this process. This assessment is not a test with right or wrong answers, so you can't possibly fail. The goal is to assess what is right for you. Done well, a self-assessment will provide you with sufficient insight to determine whether going into business is not right for you, or that going into business may be right for you but that you need to put various things in place before you do so, or that becoming a business owner is an option for you.

A good self-assessment tool will attempt to capture your personal goals and aspirations, determine your chosen lifestyle choices and identify your current situation. It will also identify your personal strengths, and your current weaknesses against the core skills required for the management of any business.

This is important. Going into business can be a risky proposition. You need to go into business clearly having identified the areas of risk and to develop a plan to effectively manage those risks in order to increase your chances of long-term success.

For first time entrepreneurs, more often than not, the areas of weakness identified by the self-assessment usually relate to either currently being in a bad financial situation, or not having any financial management experience. The assessment identifies this as, not necessarily a pre-cursor for small business failure, but an area that requires managing to improve your chances of small business success.

If the the self-assessment indicates that the entrepreneur is in a poor financial situation, depending on the severity of the situation, it could be an indicator that going into business is not right - for now. Implementing a management plan to improve their financial position before they go into business is a better option. It may be more feasible to plan to save the cash required to support your business, and yourself before you start-up.

Should the assessment indicate a particular weakness, such as limited financial experience, it would be wise to put in place a management plan to shore up identified weaknesses. In this particular example, it may be that improving your skills and expertise by attending bookkeeping courses at your local community college or by having your accountant at your side to teach you how to keep your books. The end result is that you may not know how to keep everyone else's financial records but you will be able to adequately manage and understand your own, thus reducing the ongoing risk to your business.

While it is important to encourage people to discover their 'inner entrepreneur', it is vital entrepreneurs do so while making every effort to minimise their personal risk as well as the ongoing business risk. Undertaking a thorough and honest self-assessment and using the insight it produces as the basis for the assessment, planning and management of all potential business opportunities is essential to the long-term success and viability of the business.

Karen L. Paiyo is an Australian Small Business Counsellor, supporting and nurturing the spirit of entrepreneurship in the Asia Pacific Region. Karen empowers small business owners by transferring to them the skills and expertise needed to help them take their business ideas from creative concept to profitable reality, faster and with less risk.

How To Make Certain That Your Business Will Fail

Businesses, like many things in life, fall into two general categories: successful businesses and those that are not so successful. The successful ones grow profitably, generate cash flow, show increased value over time and operate smoothly. Those "other" kinds of businesses...don't do any of these things and usually fail.

Here are 15 ways to make sure that your business fails....or conversely, things not to do.

1. No priority on marketing. Many times the most successful businesses don't have the best products or services. What they do have is good marketing...and they make it a priority. In difficult economic times many businesses cut the marketing budget first. That is a mistake. If your business isn't pursuing many channels of marketing, then it is at risk.

2. You do not have a detailed cash flow budget and projections. Cash flow is not a function of your bank statement. Many small businesses look at their bank accounts...if there is money there...they're OK. Cash flow and profits are not the same...and the primary reason that businesses fail is that they run out of cash.. It is essential to know how much cash you have, and how much you will need in the near and mid-term. Anticipate the unanticipated, use multiple scenarios, plan for a variety of circumstances...all of these things and more can go into your cash flow projections to make sure that you are ready for anything.

3. You run your business by the seat of your pants. Businesses that last cultivate talent....not rely on the owners/founders. Successful businesses have documented processes and systems in place that help the business run smoothly and grow with or without the presence of the owners or a single key person.

4. Your business is not differentiated. If you offer the same product at the same price as other businesses you likely won't last long. You need something to differentiate yourself from the pack...even in a small way. Your advantage could include people, product leadership, great operations, or other unique factors...from the supply side of the business to the service you offer customers. Find that uniqueness, capitalize on it and you're ahead of the pack.

5. Your customer service is poor. Most businesses won't admit to having bad customer service, however many do. In the current marketplace word of mouth is the internet...and bad customer service stories are all over it. It is crucial to understand your customer's expectations and measure up. It is critical for your employees to "make the difference" by taking opportunities to turn service around. The key is training and standards and most of all....communication!

6. Your business lacks focus. Know who you are. Small business owners have an entrepreneurial spirit which frequently means lots of things going at the same time. Successful businesses are focused. Understand what you do, where it fits in the marketplace and stay with it. Your customers will repay your efforts by understanding your business and parting with their cold hard cash!

7. You have the wrong people. Your most important asset is your people and having them in the right jobs. If you don't have the systems to train, recruit and retain your good people...and get rid of the poor performers your business is in trouble.

8. You spend money on things that don't move the business forward. If you have defined your mission, your customer base and have an understanding of your business, you know where to spend your money. Many businesses spend their cash on things that make someone feel good, but don't move the business forward. Take stock and review your expenses frequently....making sure that you use all of your financial resources on things that are important to your business and that you eliminate unnecessary and unproductive expenses.

9. You don't communicate your mission or purpose. If your mission and strategy is all in your head...it isn't doing anyone any good. Your employees are allies and can implement your strategies on a day to day basis. You will be surprised at the contribution your employees will make if you let them in on the "secret". They will find things you missed and contribute ideas you never thought of.

10. Your fixed costs are unnecessarily high. There are always ways to reduce fixed costs.. Thanks to technology and outsourcing, you can cut many of the costs you assumed were unavoidable.

11. You have the wrong attitude. Businesses fail everyday because the owner's ego and desire for status gets in the way of business. Control is not the be-all-end-all for business. Be a leader and recognize talent. Place your emphasis on the bottom line rather than your ego.

12. You don't live by the numbers. Measure the key indicators of your business. Pick a number of indicators that really mean something to you and live and die by the metrics. These measurements will be different for every business...but changes in the metrics that you follow indicate something that needs your attention...and now.

13. Your business has no control over its' environment. To be successful you need some control over your vendors or customer...not face excessive government regulations, not have excessive competition or be in an industry that is easily entered. If all of these factors are in your favor...you could be golden. If they are all working against you, you could be in lots of trouble. Take stock of these forces and determine your place.

14. Your cash flow is upside down. If you revenue comes in only after you have put in lots of cash you are constantly at risk for significant loss. Your risk is heightened by the revenue cycle. Companies like this don't usually go the distance.

15. Your crystal ball doesn't "do" revenues. Understanding the cash flow, budgets and the metrics of your business help you understand that putting certain dollars in the business yields certain revenues. While all businesses occasionally face uncertain revenue streams, the survivors in business have plans in place to deal with these variations...and can predict their revenues within an acceptable margin. Your Ouija board should consist of reports and evaluations of your business done with meticulous frequency.

The Next Generation Technology to Help You to Succeed in Business

Business application software has been always accessible to supply you with all the important data instantly that is required. It is the basic reason for their recognition within the large enterprises. The software has a potential to give an opportunity to the managers in making their business successful. They really get convenience by its usage be it in terms of accounting or inventory systems. The applications like relational database management systems, sales projections to enterprise resource planning that have been implemented in the business are very effective in day to day operations. This leads to the obvious fact that most large enterprises consider IT infrastructure within their team to be the major source of success. This is so because they have a capacity and efficiency to deal with the different business application software.

But, this was the case of big companies who think of IT infrastructure as its asset if we ponder over the thought of small and medium sized enterprises we will find variations. This is obvious because they cannot afford to facilitate their business with very advanced infrastructure due to lack of funds. Some of these types of companies just depend on their short extent network with the source that offers free software. There are few people who purchase few applications but later they realize that it was not the actual. In other words it is different from the original. There are many companies who just deny directly and let their future on the mere luck. They do not have capacity to take an initiative and just hope a magic to happen. This is really strange but it is a fact in some cases.

If you fall in this same category then you need to really change your approach or you will be creating further trouble for yourself. Being a small or medium sized business owner, you need not feel helpless because there are new technologies which can aid you. You really do not have to look any further for information as cloud computing technology is here to solve your problem. It encompasses the solution of all your problems. You can consider this option because it knows how to meet with your troubles that are surrounding you. You should switch to this reliable option as it will always take your business to a better direction.

Cloud computing technology is very essential business application software which can do wonders to your business. It is filled with all the qualities you require for successful business if you are having shortage of funds. These are available in the form of web based applications for your business. You should not worry about its maintenance because you have to pay very little cost for it. This is a very minimal fee charged for your monthly subscription.

Various cloud computing providers are there in the markets which supplicate with all the information or resources to small or medium sized businesses who cannot afford to get the required IT infrastructure to make their business relevant in this competitive world. Cloud computing technology is very effective because it covers all the requisites of the company to make it the best possible enterprise.

These providers always utilize the latest network servers, workstations, fast and reliable network connection, redundant backup systems. Apart from this, the cloud computing providers ensure that the enterprise gets the best output from their service. Thus, the team they have is comprised of professionals, gurus and geeks who struggle hard whole day to give the business owners the best output. They are very dedicated towards their work. The cloud computing providers make your business successful by their continuous and rigorous IT infrastructure service. It acts as a substitute for your private IT infrastructure within your company.

There are many companies who just lag behind because of the inadequate facilities and at times due to the level of standards. There are many reasons that can cause your business to suffer and most important is the point to be checked where you stand in this competent business life. If you want to succeed in business you ought to follow latest technologies. The cloud computing technology is the reliable source for you to compensate your IT infrastructural needs. If you are having small or medium sized business then you should not delay in selecting the cloud computing provider that can help you to develop your business according the latest trend. You will be at benefit by using this service because the providers will ensure that you are introduced to all the upgraded business applications.

The cloud computing technology lets you to be ahead in business and you can match up to the level of big enterprises. You can now forget all the past instances where you were losing hopes to succeed in business by the truncated team for rising in the business. The cloud computing providers that are always available to provide every business enterprises with the necessary business application make your journey towards the successful business very convenient.

Previously, you had reasons to feel incompetent in the business but now you have all the more reasons for being happy. This is so because you can now have a control over data center for your business application software needs with the help of the cloud computing technology. You get an opportunity to face the large enterprises because you have a very reliable support of these providers of the latest business applications.

Cloud computing is an internet-based technology that helps in computing. It further gives business owners a chance of having an access over the latest resources such as software, information or tools that are unavailable to them. There are many companies who cannot afford to rise because of their budget. The term 'Cloud' in the cloud computing technology denotes that when the providers are representing the data then they use the 'cloud' symbol to mention the variation in data flow. It is a very advanced technology and aims to serve all the needs of small and medium sized business owners to rise.

What NOT to Do to Keep Your Home Based Business a Success

There is a saying in the Home Based Business world (or at least a saying among my Home Based Business friends), and that is, "The great thing about the Home Based Business Industry is that anyone can do it. The worst thing about the Home Based Business Industry........ is that anyone can do it.

For the most part, starting a Home Based Business is fairly simple. Find a sponsor, sign up, and you are pretty much off and running. But the thing that most people don't consider is what they shouldn't be doing in regards to prospecting, training, and running your business in general.

Don't feel like you have to talk to everyone you come in contact with and try to sell your opportunity.

Once people start a Home Based Business, they are incorrectly trained to go out, make a list of friends and family and call them constantly about joining the business. They are also taught to always be looking for an opportunity to bring up the business opportunity in conversations. Even if they are standing in line at the grocery store, find a way to start talking to the person behind you and look for a way to bring up the business. This outdated method is still taught today, and you will see tons of information telling you it's an outdated method, but no one really explains why. Well don't fret, I'm here to explain why.

The reason it doesn't work is because people are so inundated with advertising and sales pitches today, that we shut people or advertisements down in the blink of an eye these days. It's almost like it's human instinct now. I mean think about it for a second. How often do you fast forward through commercials on TV now that we have the ability to do so? How fast did you sign up for the do-not-call list as soon as it came out? We as a society hate being sold to. Even if it is something we might need, the minute someone tries to "sell" us something we most likely shut down and block them out. When you drive do you even notice the billboards anymore, or are they just a part of the landscape that doesn't even enter your mind?

So if it doesn't work why are you taught this way? Well, it's a really simple answer. Because it's the easiest thing to teach and it's easy to teach it to others. Home Based Businesses leaders teach this to their marketers because, quite frankly, they don't know how to teach any other way. They give you a script, tell you to make a list of people you know, and give you a shot in the arm with an enthusiastic "Go get'em partner!", and they hope that the numbers will work in your favor (here is a little secret, that rarely turns out well for the new marketer). And, when they are not getting any results, they tell the new marketer to try harder. Yeah, that's helpful, try harder, keep calling the people that won't even pick up the phone anymore when they see your number on caller ID, there is a good plan.

They think it's to difficult to teach new people a different way, a better way of marketing their opportunity. So they give you some watered down, out of date system that will leave you frustrated and broke. Well there is a better way, there is a more effective way, and I will talk more about that in the next section.

Do not sponsor everyone that wants to get involved!!!

Huh???

Yeah, you read that right. I mean you could sponsor everyone that wants to start a business. In fact if you love to be annoyed, bothered 24/7, frustrated, defeated and depressed, by all means have at it. Remember this line from earlier?

"The great thing about the Home Based Business Industry is that anyone can do it. The worst thing about the Home Based Business Industry........ is that anyone can do it.

Let's get down to brass tacks. Not everyone is meant to start, own and run a business. Plain and simple. Might not be a nice thing to say, but it is a true thing to say. A Home Based Business owner, or any business owner for that matter has to have a certain type of desire and mindset. Now I'm not saying they have to be smarter than the average bear, not the case at all, but they do have to have a specific mindset. They have to understand that there is work involved, and that growing a business takes time and energy, and it takes dedication. You can't just expect to succeed by taking the easy route.

That being said, you as a Team Leader have the responsibility, I will even say an obligation, to yourself and to the person / people you sponsor, to make sure that they "get it", and understand what it takes to become successful in this competitive industry. You have to make sure that they understand that, even though you are there to always help them and work as a team, that they will eventually have to work independently after they are trained. Now I'm not saying train them for 5 hours and send them out on their own, no no no, that is what the old school teachers do. I'm saying that you work together as a team, get the person trained, help them until they are comfortable, but this has to happen within reason. It shouldn't take 5 years. I would say it should only take a month or two of regular training and close teamwork. Let me tell you something. There is nothing worse than a person that calls you 24 times a day with dumb questions, complaints, and whines constantly. This will drain you emotionally, physically and just destroy your morale. You will be miserable and in turn the person you sponsored will be miserable and broke too. Believe me, I went through it, and I promised myself that I would never go through that again. I would rather have three reps. on my team, that get the business model, have the attitude to succeed, and can work as a team as well as independently, and not be constantly dependent and need to have their hand held every step of the way, than to have 100 people that are just gonna drain me emotionally. IT"S JUST NOT WORTH IT!

So when talking to others and they show interest in becoming a business partner of yours, make sure they have the qualities it takes to run, own and grow a business. It's not hard to figure out if they "get it" or not. Most people can figure out if a person has "it" or not. And if they don't have the qualities, then just politely tell them that this might not be the best option for them and move on. It amazes me how many Home Based Business owners are so afraid to say no to people. If you are so worried about sponsoring people that you will sponsor a person who will make you miserable, I might suggest that you look into another type of work, because you will have a long painful road ahead of you.

Do not educate yourself constantly.

So we have discussed how many companies train you the easy, watered down, ineffective way. They teach a system that is easily duplicatable to everyone, but is hardly effective for anyone. Now, it's not the companies fault mind you, they have to find the easiest way to get people started, but again for the person that "gets it" this will not be enough, because, well, you want to succeed, and the people that don't "get it" won't go past the basic training the company provides, and they will fail and quit because they won't understand what we are about to discuss. But again, you won't have to worry about people on your team quitting because, as we figured out earlier, you only sponsor people with the right qualifications, RIGHT?:)

You need to constantly add tools to your business tool box. There are some great programs out there to help you take you business to another level. It amazes me how new Home Based Business owners will invest in starting a new business and then not invest in their business education. Does a doctor graduate medical school and never educates themselves any further? Does a real estate agent consistently study the real estate market and it's trends? Well the Home Based Business owner has to do the same thing. They need to plug in and study what the leaders of the industry are doing. They need to keep up on the trends and they need to invest in their education. I personally require my new business partners to purchase some of my favorite educational tools because I know it will help them in the long run, and if they don't, they will not become a part of my team. I mean if you are not willing to invest in your education and training, how much success do you think you will have? Not much.

Be impatient.

Rome wasn't built in a day and your Home Based Business won't be either. It is not a "get rich overnight" thing, nothing is. People that tell you that are lying to you, plain and simple, and they do not have your best interest in mind. It takes time to build and grow a business, and you need to be ready to put the work in. How long does it take? Well there are so many factors it varies person to person, but on average I will say 1-2 years to really start making a substantial income. Is that to long for you? Well then you are not made for this business. Any professional knows that this is the general rule of thumb for any business in any industry. If you don't have the patience to wait that long, you might want to just work for someone and and not start your own business. You also need to sustain yourself while you are building. As i mentioned earlier, if you are going to invest into starting a business you need to also invest in your education. Now I'm not talking about thousands of dollars in educational tools and trainings but there does have to be some money invested nonetheless, but the money that is invested into your education will pay you back 100 times the cost in the long run. You also need working capital for advertising, marketing and the general running of your business, again, no different that any other type of business, but remember these costs are significantly lower that most types of business, but they are things you need to be aware of if you want to own a successful Home Based Business.

Legitimate Work From Home Business or Home Business Opportunity Help And Advice

Legitimate work from home business or Home Business Opportunity Home businesses are one of fastest growing sectors of business today, with the recent recession people are looking for an alternative to finding work which can and is getting lower and lower paid.

The fact of the matter is that employers have to become more competitive as costs increase and clients want businesses to supply their goods or services for less. Therefore it is clear to see that employers who lost staff to the recession, are now re-employing but at lower rates, sometimes even at the minimum wage rate. This allows the employer to cut costs and become more competitive.

Let's face it if you were an employer under pressure you would do so too, it's basic supply and demand in that there are many hundreds of applicants for each job that comes onto the jobs market and it naturally follows that employers can and do find new employees for less.

This is where the work from home businesses have come to many people's rescue. This short article is written in order to help all those people who are looking to start up their own work from home business. I am certain many people who are at threat of losing their jobs or have lost their jobs would prefer to earn a real income from home rather than go back to work for less money than they are used to earning, I mean "How Much Do You Value Your Time" why should you work for peanuts to line somebody else's pocket?

One of my first work from home business mentor's favourite saying is this, "it takes just as long to go broke as it does to get rich! So don't get mad get wealthy!"

How To Get A Good Home Business Opportunity.

If you are going to start a home based business then trust me you are going to need a mentor, someone to set you targets, show you how to achieve your goals and be there for you when you need that home business coach and mentor.

Beware there are lots of make money online programmes out there but you must be careful, there are no secrets and there is no magic bullet, but there is a "Formula" a systematic approach that anyone can use to make money online in their own home based business opportunity, and it isn't that difficult, you just need someone to show you how and to help and encourage you.

Warning if you see get rich overnight offers on the internet and they seem too good to be true 99 percent of the time they are. The importance of researching any home based business opportunity cannot be stressed strongly enough. Like most people I fell for many scams and get rich schemes that cost me dearly, I very nearly went broke, so here are a few pointers to help you decide.

1. If a home based business opportunity seems too good to be true it probably is.

2. If someone rings you from a call centre and promises to show you how to make money online and how to build websites (which is easier than you think and any way you don't need to know how) they will usually ask for between $5,000 and $12,000 "Investment" tell them to get stuffed!

3. If a call centre member of staff on $10.00 per hour really knew how to make money online, don't you think he or she would be doing it themselves?

4. Stay away from MLM's and Matrixes unless you have hundreds of like minded acquaintances that will join you, trust me you will become avoided and very lonely.

5. Check out the business and who is behind it.

6. Have they succeeded online themselves?

7. Have they taught others to build a successful home business?

8. Does this work from home business have a track record of happy successful clients?

Please just use your common sense, analyze what's on offer, you need training and coaching, help and encouragement once or twice a week from a coach who has already made it. You need a coaching program and a personal mentor who was once where you are now.

Now when I first found a real opportunity after two years of being taken for an idiot, I was able to make a reasonable amount of money within 90 days. I stuck with this for a while and then went onto something bigger, I only tell you this so as you don't make the mistakes that I made, start with a low cost coaching program, and do not buy a home business study course, yes, many of them are superb, but until you learn the basic formula for a home based business you probably won't understand a word of it.

One of the main benefits of these businesses is that they are "earn while you learn coaching programmes" and I only know of a handful that will get you from where you are now to where you need to be quite quickly, and at a price affordable to the average guy, working or not.

Now I want to share my own experience with you all regarding the ups and downs of home based business opportunities as I have seen several people quitting their home business just because they think that they lack the necessary skills and investment.

Well let me tell you now, that is simply not true, I have met online entrepreneurs, who (and I don't mean to be offensive) if you met them you would think they are retarded, and I mean it, yet these people are very wealthy, surely if they can do it - you can too! Start with a low cost earn as you learn business, and very soon you will be a successful work from home business entrepreneur.

Word of warning Never start with an MLM or Matrix, they only make the guy's that run them rich!

Success in any internet marketing business is built with knowing the formula, the systems and systematic approach to online marketing. The second step is learning, and please remember that your time and my time are limited resources. These are precious resources must be carefully used at all times.

Checklist On Starting a Small Business

There are many good reasons to start your own business from the independence it can bring to your lifestyle to the noble role you can play in creating jobs to other, helping to grow economy and many others. In fact, the hardest part about becoming an entrepreneur is figuring out where to start. Especially in today's economic climate most probably having a small business maybe the best source of income. Whether you have some knowledge already or are going on a vague notion that this option may be for you, we hope that this checklist will be useful to start with.

Build a business plan

Having no business plan is too risky when putting a startup business or even for existing business establishment. For any start-ups, a business plan allows you to gain a better understanding of your industry structure, competitive landscape, and the capital requirements of starting a small business.. Every business plan should include something about each of this area, Mission/vision, business name, marketing plan, competitive analysis, financial plan and products and services. It can attract potential investors and secure a loan. For investors this will show whether or not your business can make a profit.

Name your business

It is as simple as it can be but naming your business is the hardest part of building a business. Business name should sounds good and at the same time should be unique so that you have an impact against your competitor but not so unique that potential customers won't know what you're selling. You may want to consider Mr. Webster as your best friend for this part and play around with name ideas. Once you have a few you're happy with, test them out with family and friends. Before ordering letterhead, though, there are a few steps you'll need to take to ensure that you legally can use the name you selected.

Choose a business structure

Four types of business structure that you can decide on; Sole proprietorship, Partnership which has 2 types, Limited and General partnership, Limited Liable Company or LLC and Corporation which has C and S corporation.

Sole Proprietorship, only one owner controls the business. This is the most common business structure available. Common proprietorship includes part-time businesses, direct sellers, new start-ups, contractors, and consultants.

Limited partnershipis limited partnership consists of at least one general partner (controls the business) and at least one limited partner (investor). And General partnership is a business owned by two or more people. Partnerships offer more freedom for business owners with shared business tasks and the potential to earn greater profits.

LLC, this is becoming more popular these days. Limited Liability Company or LLC is a type of business ownership combining several features of corporation and partnership structures Owners of a LLC have the liability protection of a corporation.

Corporationis usually the most complex and most expensive way to organize a business. Records must be kept to document decisions made by the board of directors. There are two types of corporations; C Corporations (incorporate) and S Corporations (small business). Small business is the most common corporation; C Corporation is more complicated than forming a limited liability company or a Sole proprietorship.

Set up and determine your location

Getting a location is also hard as it can be, this where your marketing strategy will fall. A good location can attract a large number of walk-by traffic while a bad location can hide you away from potential customers. It really depends to really what kind of business you will have. There are many steps in office set up including where to locate your office (home or office space), buying the necessary office equipment, designing your work space and getting supplies. Whatever location you choose, make sure you know all of the legal restrictions on your place of business.

Get business insurance

A smart business is the one will take the necessary acts to ease the risk and one valuable risk manager is insurance. Like home insurance, business insurance protects the contents of your business against fire, theft and other losses.. In many cases, there is no requirement your business needs insurance unless you have a company automobile, employees or it's a loan condition. Liability insurance, Property insurance, Business Interruption, Key Man, Automobile, Office and Director are some of the type of insurance that are commonly used today and are merely a starting point for evaluating the needs of your business. No business is immune to natural or man-made disasters and potential liabilities.

Create an accounting system

Accounting is by far, one of most important aspects of starting and operating a business. It's so easy to get caught up in the start-up glamorous tasks of designing a business card or choosing a business name, yet without a solid understanding of the numbers you will not survive. The objectives of creating an account system is to organize survival in terms of sharp competition, prevent bankruptcy and other financial risks avoidance, increase in production volume, profit and wealth maximization and expenditure minimization. Without a firm grasp of your margins and cash flow, you can price yourself right out of the market.

Remember, lack of planning is one of the leading causes of business failures. When you start a business, your only goal is to make it succeed. And to succeed, you must be able to control all the variables along the way. Research and planning will help minimize the unknowns and make you better prepared.

Effectively Practicing Credit Cards On Your Small Business

Today many small businesses are feeling the credit squeeze by banks and are facing difficult times financially. However, depending on your situation there are things that you can do. While no two small business credit situations will be the same, there are steps that you can take today to improve your credit rating and thereby increase your lines of credit and frankly, now is the time to get started. This article will discuss the benefits and some of the best methods of developing credit lines to help promote and/or grow your business.

Business Credit Good Or Bad?

Credit is like anything else in your life. Properly used it can be a real asset your business. However, improper use of credit lines can almost guarantee that you'll get into trouble and eventually even cost you your business and your personal credit too.

The first thing that you should do to establish and/or improve your business credit rating is to apply for a DUNS Number. You can Google the term DUNS Number and be directed to a site where you can get this number for your business. Once on the site, you will also learn ways to develop and/or improve your business credit rating.

Your business' DUNS rating will impact how much credit you can get for your business and frankly, you should always try and develop your business credit separate from your personal credit. To accomplish this, you need the DUNS number and you also need to start building lines of credit for your business without making personal guarantees. The best way to do this is to start out small by borrowing a small amount of money from a local bank or credit union against a small cash deposit that you make into a business checking account. I suggest making 3-4 monthly payments on time and then pay the account off in full. You'll be surprised how quickly your small business will start to get offers for everything from credit cards to signature lines of credit and/or equipment financing.

Separately, if you have any local vendors that you do business with, try getting them to extend you a small line of credit and then ask them to report your payment history to the credit bureaus in the name of your business (not your personal name). I would do the same thing here as with the bank loan. Just get a small line of credit, make payments for 2-3 months and then pay the outstanding amount off. You will be surprised how quickly your business credit rating will improve and the offers you will receive should exceed your needs.

On the other end, there is the use of credit cards and/or receiving credit cards from customers.

All I will say for the moment about accepting credit cards is that it is a necessary business tool for most small businesses today. In regards to using credit cards for your business, I suggest that you keep your business and personal lines of credit separate, if at all possible. Use business credit cards for business purposes and use credit cards for personal use on your personal credit cards. I know that many of you will say that this is hard to do, but the sooner you build your business credit, the less you will have a need for your personal credit cards to finance your business expenses.

Of course, this is but an example of how business credit lines can be developed and/or used for your growing small businesses. Furthermore, you will learn over time that the better you develop and manage your business lines of credit separately from your personal credit, the more your company will be worth and the more successful you are likely to be.

Getting New Business Ideas Off To A Flying Start

Did you know that a rocket uses more than 90% of its fuel to take off? In much the same way it will take 90% of effort on your part to launch any new business ideas that you may have.

With us now facing one of the worst global downturns since the Second World War resulting in higher numbers of people being made redundant or having pay freezes, it is not surprising that more and more people are now considering starting their own business.

Ironically the opportunities for starting a successful business in a recession are huge. Indeed, famous companies like apple, Microsoft and face book were all started in a recession.

However, before committing to starting your own business you will need to first of all ask yourself whether you will be suited to becoming your own boss. You will need to research what will be involved with running your own business to see if you have got what it takes to cope with... no guaranteed income, lots of hard work at the beginning, no spare time for family and the stress of controlling your own financial destiny and so on.

If you decide that you have what it takes then the following points will help you to succeed:

Write a business plan

Writing a good business plan can make the difference between your business succeeding or failing. Not only will it detail your objectives and goals but it will also help to convince potential lenders to have the confidence in your idea to lend you money on the strength of your proposals.

Many banks, if they feel confident with your business plans, will sometimes also offer what is known as a facility, which is an amount of money reserved for you that can be taken as and when you want. The advantage of this is that you will then only pay interest on the money that you have actually used which can be a massive help financially when you are starting off in business.

Research Your Business Idea

Carry out thorough research on your business idea. Find out what your competitors are offering and think how you can offer better.

Examine who you think your target audience are? Young, old, the lifestyle they have and why will they want to buy from you rather than your competitors?

Keep start up costs down

Try to keep your business start up costs low in order to keep as much spare cash as possible as a cash flow for your business.

For example do you need to go to the expense of having office premises or could you just as easily run a business from home operating from a spare room in your house?

Talk to H M Revenue and Customs who will be able to offer valuable advice about tax issues that may be able to also help you to save money.

Good Bookkeeping

Make sure that you have a good bookkeeping system.Good bookkeeping can keep track of your business progress from the onset. Make sure that you keep all receipts and invoices, even ones from before setting up your business if they relate to your business.

It is also beneficial to make sure that you monitor your cash flow weekly and that you stick to your budgets.

Make sure that loved ones are "onboard"

Starting a new business can involve working long hours at the beginning with having to make sacrifices along the way. Before you start a business from home make sure that those closest to you are fully aware of what will be involved with your venture...Working long hours especially in the first year, no extra cash for a while and a part of the home becoming an office,to name but a few.

There will be enough pressure in the first few months of starting a new business, without the stress of falling out with loved ones too.

Let your customers know that you exist

In order to get the all important customers for your business you will need to find the best ways to market your business.

This will be largely dependent on what type of business that you start. If, for example you are starting a plumbing company, advertising in local press or sending out flyers will be an effective form of marketing for your business. Whereas if you are starting an online business you will need to ensure that you have good SEO in order for potential customers to know that you exist and to find your website.

You will need to test various methods of marketing and be prepared to be flexible to change if certain forms of marketing do not work well for your business.

Have an alternative means of income

When starting your own business it is better to work it part time around your current job before taking the step to lose a regular income. This will give you valuable time to test the success of your business idea while making extra money at the same time.

If you have been made unemployed and cannot work around a current job, it is advisable to keep some money aside to cover your outgoings while you are waiting for any business profits.

It can take anything between 6-12 months before there will be any profits from your business which will mean needing an alternative means of income for that period of time. Even when you have succeeded to create a profitable business it is better not to take too much income for as long as possible in case your business suffers a temporary slump in sales.

Sadly there is no fool safe way to know how to run your own business, but the most important factors to take into account are to work hard and to allow time for your business to grow. It will not happen overnight but if you carry out thorough research and market your business well and ensure that you stick to your budget and regularly monitor your finances, you will eventually create a successful business.

Just remember actually setting up your business is what will require the most effort and hard work on your part. Once you have put in the effort, like the rocket that successfully completes its mission, you too will reap the rewards from the eventual success of your business.

Measuring the Value of a Business Between Owners

The concept of the value of an owner-managed business is best understood considering the perspective of the marketplace. Fundamental to the understanding of business value is that the value will change depending upon the marketplace - more precisely, value will change with the circumstances that create the nature of the market.

Buyers who are involved with the business will not pay for the "know-how" or "good will" of a business that a buyer outside the business would consider purchasing. Generally, an inside sale (where the market consists of buyers involved with the business) will not have as high a purchase price as an outside sale (where the market consists of buyers not involved with the business). The term "fair value" is used in legislation and court decisions to indicate the value of business interests between owners of a business. The term "fair market value" is used to indicate the value of a business to those purchasing the business and not involved in the business. Fair value, the value between business owners, results in computation of an overall business value that is less than a presumed fair market value. A minority interest in a closely-held business will be highly devalued for lack of control by a market consisting of buyers not involved with the business, while a market consisting of buyers involved with the business might place a premium on an interest that when acquired would merge with an existing interest to become a majority interest.

Owners will have as a goal the increased value of the business, but when it comes to measuring the value of the business and then incorporating the value concepts into an owner's agreement which contains buy-sell provisions, the concepts often become convoluted. It can get worse because there are more complications, those involving terms of sale and circumstances motivating the sale.

There is an old saying among negotiators: "If you give me my terms, I will give you your price." Simply put, if all the proceeds of the sale are not paid immediately then the time involved before payment will decrease the present value of the sale. If the purchaser is not going to pay the entire purchase price immediately, the time factor involved in the payment discounts the value of the price. If purchasing owners do not have the funds to buy out another owner, it is still preferable to have a sale with payment of part of the purchase price deferred. (Usually this means that the future success of the business will determine whether the selling owner is paid.)

If the owner selling the business interest is dead, there are circumstances that create the nature of the market which will cause potential buyers to offer less. If the owner selling the business interest is disabled, there are circumstances that create the nature of the market that may cause a discounting of the price a buyer will offer. If the owner is selling because of a dispute with other owners, especially if the departing owner is going to compete with the business, there are circumstances that create the nature of the market which will cause the discounting of the value of the business interest. Note that none of these circumstances potentially affect the essential worth of the business interest over time - they are market causes for a decrease in purchase price for a certain transaction.

Owners want to enter into buy-sell agreements to avoid the potential result of circumstances that create the nature of the market - that death, disability, separation from the business, or a number of other events could cause a diminution in the value received for their business interest. Where there is an effective agreement, the owners of a business form the market place and agree to buy one another's interests in the event of certain triggers initiating a purchase and sale of interest. However, owners generally do not enter into effective agreements because they underestimate the complexity of the determination of a price in a given circumstance.

One of the most frequent mistakes in buy-sell agreements is confusing fair market value with fair value. By definition, a buy-sell agreement deals with fair value (between co-owners) not fair market value (applicable to a purchase of the business by one not an owner). If the basis for value discussion is some concept of fair market value (derived from an appraisal or a comparison transaction price) during the course of a transaction when enlightenment occurs, there will be an attempt to break the agreement. As an example, where two owners each own equal shares and agree to purchase the others interest at the first death of an owner, there will be a purchase for fair value of a one-half interest that will result in the surviving owner having all of the business valued at fair market value. This situation is often described as a windfall and has been the subject of much litigation, but a careful analysis results in an understanding that there is no windfall and that the purchase and sale was for an appropriate price. If this understanding is not properly documented for the benefit of the parties, related parties, and affected parties (as well as their lawyers), litigation is likely to undermine the efficacy of the buy-sell transaction.

Similarly, where the triggers for the transaction vary, some will try to apply the same value, ignoring the concept that the market reacts to circumstance. When buy-sell agreements offer different prices and terms given different triggers and the rationale for this treatment is not appropriately documented, the consulted lawyers, parties, related parties, and affected parties often advise and initiate litigation.

Generally attempts to simplify this complexity with a formula are also problematic, because conditions will change more quickly than will the formula.

When owners consider a buy-sell agreement and desire an effective agreement, the understanding of value must be approached with appreciation of its complexity. The owners should agree on fair market value and then understand that fair value will be the basis of their agreement. For each trigger of anticipated, potential circumstance, there must be a consideration of the price and terms of each transaction reflecting the marketplace issues. The agreement should specify the rationale and procedure for each transaction. Stakeholders (spouses, potential owners, and key personnel) should be advised to the agreement and understand the relative concepts of fair market value and fair value.

The Easiest Way Grow Your Online Business Opportunity

Whether your website is selling a product or a service you need constant exposure to get new visitors to your site. The only way you'll move up the search engine ladder is to learn how to grow your online business opportunity with article marketing. It's really an easy way to find new customers and make more money on the internet!

Search engine optimization, also known as SEO, is essential for moving your site into the top ranked postings on every popular search engine. After all, what's the point of listing keywords and key-phrases associated with your business if you're not going to optimize them?

Your friends are right! Article banks are filled to the brim with back-linked articles that not only get more visitors to the originator's website or blog, but also serve to increase and optimize their site's all important search engine rankings. Aside from providing a greater chance for your business to turn into a viral online success story, marketing through social networks and article data banks just makes good sense.

Article marketing began to gain strength as more business owners began using self produced prose to help promote their business. News editors began frequenting article databases for story leads and the number of hits to the sites grew to enormous proportions.

Article marketing services will write and post informative prose for you all over the web! You won't have to become an internet or SEO-guru to figure everything out. Article marketing services can have the articles written for you and post them to all of the popular article banks.

In fact, simply by providing a keyword or key-phrase, these fee-based services can have a professional writer prepare your articles in as little as twenty-four hours for proofing. Then the article marketing service does the rest of the work.

In fact, there are many services available now that will write your articles and post them for you. All you need to do is supply a small fee and a keyword or key-phrase and Voila! In a day or two your articles are appearing all over the web and your search engine rankings increase accordingly.

You'll get all of the important backlinks needed to get your site noticed for just a few dollars. It's like getting big business level assistance for the price of a few Venti Lattes! What could be better than that?

Article writing and submission services range from $15 per unposted article to as much as $3,500 or more per posted article or prepared press release. There is a service to fit every budget and meet every unique marketing objective.

Whether your enterprise is large or small, you can grow your online business opportunity with article marketing. If you know how to write using keywords and key-phrases properly, the process can cost you nothing more than a little time. But if you would prefer to concentrate on your core business, there are many cost-effective article marketing service approaches that are available.

Business Opportunity Leads

Before I started doing affiliate marketing online I was actually involved in a home based network marketing business. I learned a lot about this business and how valuable a solid lead can be in growing a business.

My problem was I always wanted to go on the internet to find my leads but the business itself exploded in a "warm market" environment.

Against my mentor's recommendations I decided to try the online lead gathering approach anyway... and tried to build trust online so that I could eventually show people the real business plan and hopefully become partners with them.

After a few months of work online I was getting pretty decent at capturing online leads. I thought I really was on to something big. In fact, what I really learned was that my follow-up plan for converting my leads into my business was failing and most of my leads were not interested in joining me in an offline business endeavour.

What I began to realize was I was good at getting leads online but was having trouble converting them in a warm market business. I was able to convert them on other things which made me focus more on the affiliate side of things and I started to lose focus on my original business. This is because I was actually starting to see money come in from my online leads.

I no longer do network marketing, but I do believe it is an excellent business model, and in fact sometimes I think back and wonder if I made a mistake in leaving that offline business to start working online.

My mentor really taught me a lot about business and personal relationships, and I have starting using some of his philosophies when structuring my own online marketing campaigns in a way to stimulate long-term growth, and residual income.

So, with all that in mind, understand that I learned a whole lot from my online approach to capturing business opportunity leads.. and this post is going to explain some of the things I learned

Gathering Business Opportunity Leads Online - What I Learned

Gathering qualified leads online can be tricky, but many people find it a necessary step they must take. With your own list of leads you can continue to promote your own business opportunity, your own products, or continue to market affiliate products and offers to your list well into the future.

Business opportunities is one of the most competitive niches online. You can even narrow this niche down to "home business opportunities" which still gets millions of searches around the world every day. People searching for home business opportunities are very valuable leads for several reasons.

If you do a typical search for home business you will find hundreds or thousands of people advertising the next great opportunity, and millions or even billions of blogs around the globe pumping out daily content in this niche.

Many of these site owners have done nothing more than hire a graphic designer for a few hundred bucks to create a nice website and some of them even pay people to write their blog posts for them. These sites have one goal in mind and that is to capture you as a lead and then later convert you to a customer or business partner. Many of the sites and owners promise fancy cars, and warm days at the beach, and some of them will tell you they have the answer you need to gain financial freedom.

Does this sound familiar? It probably does...

The actual number of these types of sites has drastically expanded in the last 10 years. There are literally billions of them - which makes it extremely expensive to advertise in this niche, and very difficult to stand out above the rest.

So How Does One Generate Their Own Qualified Business Opportunity Leads Online?

There are many tactical methods for generating good business opportunity leads online, but it really depends on what type of business you want to build.

If you are looking to just collect emails and send people a bunch of affiliate based products related to making money then the above mentioned style of websites might be all you need, but of course you will be competing against millions of people doing the same thing.

If you are one of the many people who have come online to find qualified business opportunity leads to expand your own home based business then you are probably familiar with warm markets and cold markets.

For the purpose of this article warm market is people you know, which could be friends, relatives and existing customers, even referrals are said to be warm. "Cold market" refers to a sales person's future or prospective customers.

You may have a lot of experience in converting a warm market but the internet is generally a cold market environment. This does not mean you cannot turn your online leads into warm leads. It just requires a different approach to online lead generation that goes against the traditional "squeeze page" or "sales page" & affiliate approach.

Below are some of the most important things you should include in your quest to build a large list of business opportunity leads, that you can convert into a warm market business.

Be The "Real" You Online

Your first step should be building a presence online that is the "real" you. That's right. You have to come out from behind the curtain and actually post your real name and photo online.

Many people who start a home business will come online and try to keep their identity hidden because they don't want their friends, current employers, or family to see they are doing this. This will NOT work for you if you want to build a relationship with your leads.

You must get over your fears and create your online profile.

To do this you should develop your own blog (WordPress is easiest), which can contain anything you want and can be business related. On this blog you can post your daily thoughts, business tips, quotes, information about yourself... etc. You will want your blog to link to all of the following.

A Twitter Account

A Facebook Profile

A Facebook Fan Page or Business Page

A Facebook Like Box on Your Blog (Very important for building trust - it shows how many people like you on Facebook.)

A Private Facebook Group

A Linkedin Profile

Facebook Comments - this is a cool way to link your blog to Facebook and every time someone comments on your post it goes on their Facebook news feed.

A Professional Lead Capture Approach

You will want to have a squeeze page or a form on your blog where people can actually enter their emails or contact details, or can contact you directly. You can set up a form on your blog to collect whatever information you want from your leads and even allow people to send you a message. the form is designed to prevent spam. This can be done on WordPress blogs by using a free plugin like WordPress Contact 7.

You can also encourage them to join your email list for exclusive updates, industry news, events, or a free ebook. This can be easily done using a service like Aweber which stores email addresses for you and costs about $20 a month.

Whatever you think your readers would find valuable you can offer to them as an incentive to join your list. Aweber will store all your emails in a safe place and allow you to send emails easily and automatically if you wish.

You might want to steer clear of looking too promotional on your lead capture page and in your messaging. Avoid typical marketing images showing material possessions, and over use of exclamation points. You really need to separate yourself and look professional here in order to keep this people from clicking on the "back" button before they even subscribe.

Most people who are joining your list will be people you have met online or in person and you have already told them to visit your blog. These people will also be referred by friends and family, so you probably don't want to look like a "shady" salesperson.

Become Involved

To build a following that will trust you, you need to be interactive online. This means you need to update your blog regularly and update your twitter, your Facebook etc. You need to build a following and show them you are the real deal, and you are available to talk at any time. If your leads believe you are there and available, they will be more likely to convert.

Save Time With Syndication

You can update all of your online accounts automatically just by setting your blog up to syndicate the content to other places. If you build your blog in a way that facilitates automatic publication onto social media outlets then you can save a ton of time. For example, you can install the auto tweet plugin so that all your new blog posts are automatically tweeted to all your followers. The same goes for Facebook Page Publish plugin.

Make sure that at the bottom of all your posts you remind people to join your email list or fill in your contact form! People will follow your instructions - all you have to do is tell them. You will want to give them an incentive to do so.

You can also syndicate your content to other popular blogs and websites in your industry if they exist. All you need to do is content the site owners and ask them if they wish to post your content. Many of them will if you have a solid reputation and this will generate traffic to your site.

Generate Traffic

There are several ways you can generate traffic to your site. Paid traffic is the fastest form of traffic online. Facebook allows you to buy traffic and target specific interests and hobbies. It can be effective, but very expensive.

If you are going to pay for traffic you need to calculate your cost per acquisition or CPA and you need to know the value of 1 lead to your business. This will determine whether it is worth the investment in buying traffic.

You also have to have an end goal in mind on how you are going to get the paid clicks to convert into an email lead and how you will then convert that email lead into an actual business partner. This is the most difficult part of the process for most people.

What is the Cost Per acquisition?

In my experience online using squeeze pages, for every 100 clicks you buy you should convert at least 30 - 40% or more into email leads. So if you pay 40 cents per click it will cost you $40 for 40 leads. ($1 per lead)

I found with a few tweaks and some cheaper traffic I could acquire email leads for 0.50 cents or less.

You could also pay-per-click on places like Bing Ads or Google Adwords which may be a bit cheaper than Facebook.

Once you become more involved and post more blog content you will start seeing a trickle of free traffic. Another trick is to build a viral video or viral content that will be shared among people on social media sites. Make sure it is linked back to your site.

Every time you post new content you should also be sending it to all your other social media accounts and your subscribers. You will find that as you gather more and more leads and continue to build more solid content on your blog that your traffic will increase exponentially since many of your existing leads will share your content through Facebook and Twitter.

You can also set up new business cards with your blog address, and do some offline promotion including radio ads, flyers, classifieds etc.

Email or Contact Follow Up

How you follow-up with your leads is the most important part of all your efforts.

Business opportunity leads generally convert better if you "warm" them up first. So you should treat the people you meet online the same as you would treat people in person, or even your friends and family. Steer clear from lengthy automated email follow ups and salesy tactics. You need to build trust and give them what they are looking for.

A couple automated welcome messages may be OK, but you really should try to eventually get these leads on the phone or use a tool like Skype which allows you to have a face to face conversation with someone.

If you have a pre-formatted presentation or "plan" you need to show them, you should not do this on auto pilot - (for example with automated emails).

You should call them and arrange a meeting time and have them watch the plan or presentation. Then follow-up immediately by phone or Skype. Be prepared to sign them up or have them purchase your product at that point. This will drastically improve your conversion rates for your business opportunity leads that you collect online.

Affiliate Approach

If you are an affiliate looking to make money from your leads, then an automated follow-up sequence on Aweber may work better for you. There are several legitimate business opportunities that have affiliate programs and convert well with this type of marketing approach.