12 Tips To Home Based Internet Business Success?

The truth of the matter is that everyone wants to succeed with their home
based internet business. But what will it take to actually ensure you
succeed on the Net?

Here are 12 success tips that will help improve your chances of establishing
a successful home based internet business.

  • Have a Purpose or Goal: This could be the only problem that stops you from attracting success to your home based internet business. Let me make one thing clear – “If you don’t know what you want achieve in your business or go in life, you will never be able to get there? If you are not clear about what you want, then you are sabotaging your home based business. Write a plan or goal and be clear about what you want to accomplish with your home based internet business. Here are some questions to help you define a plan or goals for your online home business.
    • What do you want to do?
    • What do you want to learn?
    • How much money do you want to make, save, and invest?
    • How do you want to spend your time?
  • Treat your home based internet business as a real business:

    If you really want to make money with your business or achieve any personal success,
    then you must take your online business serious and it will become one. Think of
    your first year as a raining period. Don’t expect large earnings until after you
    have educated yourself.

  • Don’t worry, be crappy:

    Don’t wait for everything to be perfectly right before you start. There is no such
    thing as a Perfect Time. We all know that getting started is the hardest work.
    Start now with whatever you have or know and the things you need to grow your
    business will come as you work toward your goal.

  • Organize Your Priorities:

    What are your priorities? These are things of utmost importance. Time management
    is basically priority management. It is the act of determining what is important,
    and then living out your work in a manner that will help you fulfill your priorities.

    The difference between successful home based internet business and poor one is how
    they choose their priorities and how they organize their time around them. With
    that being said, don’t allow the act of organizing keep you from the most important
    element of your business – Marketing.

  • Do what you love:

    Home based internet business will take time, energy and effort to ensure it success.
    It is important that you choose something that will excite you because you will be
    putting a lot of time and probably the rest of your life.

    So make sure you pick something that you are passionate or have passion for.
    There is a saying that if you do what you love it won’t feel like you working. And of
    course the all important factor – money will surely come.

  • Niche Thyself:

    This is what most people starting out get wrong. The riches are in the niches. It is
    imperative that you pick a more focus topic … a unique product with a less competition,
    but has high enough demand.

  • Act Boldly:

    Taking strong, powerful actions are the key to achieving massive success in your home
    based internet business. You need to take action on your dreams and the knowledge you
    have gain through learning in order to see results.

    Knowledge is power, but if you don’t take any action that knowledge is with wealth nothing.
    You don’t only need to take action. You also have to take bold actions – by unleashing
    the power of Persistence, Decisiveness, and Patience.

  • Be Persistence:

    What hold most people from succeeding on the internet is that they don’t have enough
    persistence. Persistence is a very important factor in achieving lasting success in your
    home based internet business. You will never be able to succeed without being persistent.

  • Be Decisive:

    Indecisiveness is one of the biggest obstacles that are holding many people back from
    starting their own home based internet business and experience the power of financial
    freedom they want. Decide that you’re going to rise to the top in your internet business.

    Study successful work at home businesses and apply the tested and proven strategies for
    getting what you want with your business. I want you to understand that there isn’t any sure-fire secret out there that will make you rich. You only develop success through practice and repetition.

  • Be Patience:

    Can’t you wait to get what you want? Do you lose your patience when something takes time
    to be completed or achieved? How do you react when you don’t see immediate gain or
    gratification from your efforts? Do you persist or lose hope? When you face hard times
    and the road to your dreams looks too long, you should not give up or lose hope – but
    rather stay focus on course.

    This is how the home based internet business works. Everything is achieved step by step.
    You won’t get rich or be successful overnight.

  • Think Positive:

    Thinking positive and expecting good things in life is a great approach in seeking success.
    You would be surprised at how much your own attitudes or thinking affect your outcome.
    Don’t think negatively or let the negative attitudes of others influence you. Considering
    the opinions and feedback of others is smart – but don’t allow them to change your beliefs.

  • Improve Your Business Daily:

    Focus everything to improve your home based internet business a little bit. Learn something
    new. Master a new skill or improve on one you already know. Long for and analyze lots of
    information – learn ways to do things better and commit yourself to a continuous never-ending
    improvement.

Understand that you can’t become rich in your pocket until you become rich in your mind.
Knowledge is Power – Learn how to start your internet home based business right!

The Best Bond Fund Investment Strategy

Even the best bond fund involves risk, because bonds fluctuate in value. When interest rates head north, bonds head south. Here’s your best bond fund investment strategy to earn the higher interest income bonds offer while lowering your risk of significant loss.

Our investment strategy involves three different bond funds and four basic steps. The three are: a high quality short-term, an intermediate-term high quality, and a higher yielding (but not junk) intermediate-term bond fund.

The short-term fund is the safest and will pay the lowest dividends or interest. It will fluctuate less in value than the other two as interest rates change. The intermediate bond funds pay more interest, but are subject to greater risk and price fluctuation. As interest rates rise they can lose significant value; and they should gain in value when rates fall. Long-term bond funds magnify this effect and are riskier. That’s why I exclude them from our investment strategy.

First, keep your cost of investing low by investing in no-load funds. To lower costs even more go with the index variety. For example, no-load intermediate term index bond funds. Second, invest equal amounts in all three different investments. Third, set them all up so that all dividends are automatically reinvested to buy more shares.

Fourth, rebalance at least yearly so that the value of all three remains about equal. You do this by moving money between them. For example, if the higher yielding one becomes worth less than the short-term fund, move money to make them equal again.

With this investment strategy in place you have a built in defense working for you, because you will be buying more shares as bond prices fall in the intermediate sector. First, reinvested dividends (interest) buy more shares as prices drop. Second, you will be rebalancing and moving money from the short-term fund to the more volatile ones as rising interest rates send their fund prices down more aggressively.

You will be buying more and more shares at cheaper prices. This lowers your average cost per share… so that when interest rates level off and head back down your loses have been minimized. And your bond funds should recover sooner, and show a profit before interest rates get back to where you started.

The simple investment strategy is to just buy the best bond fund you can find and hold on. The problems here is that if interest rates go up significantly and remain at higher levels indefinitely, your bond investment could be under water for years.

People invest in bonds for the higher income they pay. With interest rates at historical lows, the risk of losses due to rising interest rates can outweigh that advantage. Don’t buy bond funds without an active investment strategy.

Initial Prep For Selling a Business

When you are ready to sell your business, there are several initial steps that need to be completed right away. These include getting all of your financial information together so that it can be presented it the most favorable light and in an easily understood format. This should include sales records, quarterly or yearly income records after expenses, and asset descriptions with their approximate current worth.

If inventory is involved is the business sale; the records should be current, the method of evaluation noted, the purging of old or obsolete inventory and it’s total worth using your method of costing it out. The more accurate the records, the less likely the buyer will want a discount. The overall appearance of the business should be spruced up so it will present a good first impression the first time the potential buyer sees the business. Key employees should be advised as to what is happening and given assurance that they will remain on the job for a specific period. The employee retention item will be part of the sales agreement.

Another part of the initial preparation is a list of all assumed debts or bills. This list is for the long-term leases that pass with ownership. It could also include any maintenance agreement that extends for a period of time.

SET YOUR SELLING PRIORITIES

Setting your priorities as to the sales price and how you expect to get the purchase price are mandatory. Everything flows from these numbers and terms that the owner arrives at, maybe with expert’s help. The selling price for your business should actually be two prices, what you will settle for in a cash deal and another price if you have to finance the deal. The initial asking price should be set a little higher than what you will actually accept so as to have negotiation room.

If you are willing to take payments for a period of time, you will have to come up with how long you want the payments to continue. Sometimes having a flexible term plan you are willing to tailor to the buyer’s needs make the sale happen. The first question most buyers will ask is why are your selling a profitable business? You better be prepared for this question with a reasonable answer. The next important question is how did you come up with the selling price. Again this demands a logical sounding answer.

TIME TO SELL

Is this really the best time to sell or do you have no choice due to health or a death in the family. Some times getting another solid year of performance under your belt could make a big difference in the money you will receive for your business. Several consecutive stellar years in a row are impressive and will add to the creditability of your asking price. It will also validate that your business has a following and probably many repeat customers. This is very comforting to a potential buyer and makes them more receptive to your terms or price.

Any thing you can do to take the worry out of the picture by positive facts will go along way toward helping you come together with the buyer. Positive growth and an increasing profit curve are like honey to a potential buyer. That is why some times another year of operation could be the touch that is needed to get your price. Our article on Right time to sell your biz will help you with more info.

If you are not in a position where you have to sell, look at what another year could mean. If you are ready to let loose, that is a different matter. A motivated seller is what all buyers are looking for when in the market for a business. Motivated means willing to negotiate price, terms and even some short term partnership This seller type will do what ever is reasonable to make the deal fly.

CHOOSE THE PROS

Most businesses are sold with the help of a professional for a very good reason. The sale will probably go better as to time and price. The business broker handles many important details. This starts right at the beginning with coming up with a fair and reasonable price for the business. Many business brokers from larger outfits have professionally certified people on staff that can come up with a creditable price for the business that will stand close scrutiny by the buyer team.

A good business broker will have a ready list of buyers who are in the market for a business. If your business meets what they are looking for, then you have an immediate potential buyer. This could be very important if your business is one of a kind or would take a specifically trained person to run it correctly. There could be a need to be license in the business before you can open the doors. This is true in many areas in the construction business.

The critical area of the final negotiation is where you can use this experienced help to sell your business. A good negotiator is invaluable at this stage of the sale. The broker has done this numerous times and helped to make the deal move to completion. It is easy for a buyer to get cold feet at the last minute. A broker that has been around for a while will be able to handle this situation. Actually a good broker will be involved in all stages of the sale from introduction to the final contract. This is part of their matchmaker magic.

Most business sales experts recommend that the pro be brought in early and listened to with a serious ear. Yes they are working on commission, but nothing happens if the sale is not made. The cost for this help cannot be looked at as unneeded when they introduce the buyer and help bring the sale along. Their advice on the selling price alone is worth hiring their services. A timely sale is far better than letting a business sat on the market for an extended period of time. It will easily become yesterday’s news and lose its freshness.

Conclusions

Conclusions about selling a business are many and each has a very important element in making the sale happen. Setting the price is critical since every other aspect of the sale flows from this decision. Hiring the pro to help with this and helping you gather all the information to make the sale possible is highly recommended. Advice from an experienced business broker can easily make the sale come to pass.

Another recommendation is provide accurate information throughout the process, as this will develop trust on the buyer’s part. It sets the tone for all aspects of the negotiation. A skeptical buyer is where most start, but by providing answers in a timely manner and as accurate as possible engenders an excellent way to gain a good relationship. This cannot be skipped or it will come back to create obstacles. I guess the best advice here is to treat the buyer with the golden rule philosophy. There is everything to gain by being respectful to the buyer and nothing to be gained by doing the opposite.

Finally there are no dumb questions from the buyer. Some may be out of ignorance and some may be a set up. Take them all at face value.