This is actually something that I shared with a forum that I attend
and I thought that maybe it would be a good idea to share it with the
rest of the world. If you want to avoid the TL;DR to follow, this
article is essentially about focus, priorities and not letting your life
pass you by. If you're cool on all that, you can probably skip this
one. If not, you probably want to keep reading.
One thing I
learned late in life (wish I learned it earlier) is that a lot of people
REALLY don't know what they want. Oh, they may have some general idea
like, "I want to be rich" but they have absolutely no idea of how they
want to get to that stage. At this point, I could talk about a whole lot
of generalities in life but I want to keep this article specifically
focused on running a home business. Let's start with the more general part of running a home business - the why. Have
you ever REALLY sat down and asked yourself WHY you want to run a home
business? To be honest with you, this is something I NEVER wanted to do.
In fact, running my own home business was something I was forced into
doing because I lost my job and couldn't find another one. When you're
desperate, you'll do just about anything. What about you? Why are
you even in this racket? Is it because your boss is a jackass and you
can't stand working for him another day? Maybe you're out of work and
heard that running a home business was something that could make you a
few bucks. Maybe you're retired, fairly well off, but bored to death
with sitting around and watching the TV so you needed something to do to
keep you busy.
Problem is, some people never even think about the
real reason why they're doing something. They just do it. And then they
look around, see that it's not going very well and wonder why. You can
apply that to just about anything in life but confining the problem to
running a home business, the chaos usually looks something like this. John
Doe decides to start a home business but doesn't know where to begin.
So he does some searching on the Internet for "Home Business Tips" and
finds articles similar to this one. In those articles, he finds
suggestions for business models. He sees one and says, "That looks
interesting" and proceeds to give it a shot. After a while, he
discovers that it's not making him the money that he expected to make,
so he drops the business model and goes back to searching on the
Internet for more home business tips and the cycle begins all over
again.
Unfortunately, the cycle doesn't end until somebody smacks
John Doe upside the head and says, "Hey, you're going about this all
wrong. You need to - " and gives him the magic words. What ARE those magic words? Well, from my experience, they come down to a few basic things.
1.
Find a target market of prospects who all desire a specific kind of
product or service and have shown their willingness to spend money on
that product.
2. Set up a business to provide said product to
prospect whether it's one you create yourself or one that is made by a
third party that you can promote and get a commission on.
3. Sell the product.
That's
a simplified map but trust me, it works. It's basic supply and demand
economics. Find something with a demand and supply it. Naturally, if
there are other suppliers, you are going to have competition. If the
competition is great, you're results might be harder to come by. That's
just life and something everybody has to accept. That's why it's best to
choose products where the supply isn't so great.
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