Home Business Entrepreneurs: 3 Hidden Challenges That Could Block Your Success

Imagine being an entrepreneur who jumped out of bed this morning ready and eager to work on your home-based business. You cheerfully sit down at your desk with your action plan for the day in one hand, and a mug of tea of coffee in the other, totally focused to take another giant step towards achieving you goals.

Alternatively, did you find yourself taking time to get started, being distracted by the news, your emails, your Facebook conversations, and any other time-sucking, non-productive activities? Let’s be honest, isn’t it so easy to get caught up in the web of these often idle, and valueless actions. We’ve all done it at some time or other, and probably found some justifiable (at least to ourselves) excuses for our behavior.

Being an entrepreneur working from home has its challenges, some you might know, and others you might not. Let’s address three hidden challenges that could block or stand in the way of your success.

Hidden Reason 1: Resigning Yourself to the Bane of the Lone Wolf

Entrepreneurs who operate solo from home soon realize that running your own business entails some hard work. Much of this work appears in the guise of ‘grunt labor’, namely mailing packages, answering phones, maintaining websites — all the stuff that somebody else does when you work for a larger company.

This time consuming, intimidating work can be frustrating. After all, you set out in your home business because you have a desire, expertise, or passion for a particular line of work — not because you enjoy calling FedEx, or UPS to make a special end-of-day pickup. Managing a small home business can seem especially overwhelming when these chores and more, interrupt the flow and the real purpose of hanging out your shingle. It’s tough to believe how much time it actually takes to set up and organize an office.

Unfortunately, it comes with the territory, at least at first. Everything belongs to you – those professional and not so professional type duties. There’s office management, the necessary bookkeeping, establishing a web presence, marketing and promoting your services and a whole lot more. Look forward to growing your business large enough to afford to hire someone to take care of the everyday stuff. In the meantime, consider finding some resources to outsource those time-consuming and less cost-effective tasks that need attention.

Learning how to manage and market your business requires a skill set that probably wasn’t part of your professional training curriculum. The main thing is to recognize that there are countless resources out there to help you.

Hidden Reason 2: Searching for the 25th Hour

As you’re probably aware, owning your own business consumes many, many, many more hours than you were ever accustomed to working in your cushy, cozy 9 to 5 position, especially in the beginning. You’re your own worst taskmaster and brutal slave driver, subjecting yourself to more working hours than you ever would for someone else.

Home-based business entrepreneurs are notorious for creeping into the office long before the sun even thinks about rising and staying there until the moon hangs high in the night sky.

Why? This passion to nurture and grow your business is intoxicating, and very addictive. You want to give it your all.

But beware!

If you want to avoid burnout, melt-downs, partner screaming and dog-kicking, re-charging your batteries is a “must do” practice you need to initiate daily. Developing a regular ‘time away from the office’ routine.

I like to start my day with a short yoga practice and meditation, and then every couple of hours I get up from sitting in front of my computer, do some stretching exercises, and when possible, go for a brisk walk around the block.

If you ignore this sage advice, you’ll burn out long before you accomplish what you want to do.

Hidden Reason 3: Realizing Success Comes with a Price Tag

Entrepreneurs succeed because they position themselves as the expert in a particular market segment. This success comes with a price tag. The expert in any given niche actually needs to know quite a bit about their field. The buck stops with you. When you say something about your industry, you had better be 110% sure of your facts. Give out false information, and your expertise status soon dwindles. Don’t give your target market reason to question and doubt your expertise.

Finally, working for yourself in your home business can be very lonely. Giving up the camaraderie and support that you had in an office setting or the fun chats you had around the water cooler, may not seem like a big deal, but there are going to be some very long Wednesday afternoons when even the annoying copier guy is welcome interruption. Remember that everyone has a need for peers and companionship. Make sure you look for people you respect who you can bounce ideas off of on a regular basis.

Being an entrepreneur can be extremely rewarding, and has plenty of definite advantages, from determining your own schedule to your controlling own destiny. Embrace and enjoy it!

The Four Types of Education You Require to Become a Successful Business Entrepreneur

As an aspiring successful business entrepreneur, you dare to tread a different path to 97% of society. You seek to become rich so you can design your own life independent of your paycheck. Instead of a J.O.B. you prefer to work for yourself and be your own boss, maybe work from home or anywhere you like, and to become financially free to live out your dream lifestyle.

Whether you start a traditional business, a home based business or an internet business, Robert Kiyosaki (Rich Dad, Poor Dad and The Business School) talks about three different types of education that are required for the successful business entrepreneur. If you want to achieve this financial freedom to live your own life, you need scholastic education, professional education and financial education.

Let’s unpack those three first.

Scholastic education basically is what you get at school. In the main part, it’s about basic literacy. You are taught how to read, write and do maths, very important for survival in today’s information age. Throughout our childhood we are taught the importance of getting a good education. As adults, we are encouraged to become lifelong learners and invest in our personal development. It is pretty much indoctrinated in us that getting good grades at school, even going to university, is the best way to get a high paying job.

Professional education is what teaches you how to work for money. This type of education you can get from apprenticeship and training as well as through to your work experience. This type of education can range from apprenticeships in a trade or service to higher level training to become a doctor, lawyer, accountant, pilot, and so forth.

Financial education is rarely taught at school or at home or anywhere else for that matter! This is where you learn how to make money work for you (as distinct to you working for money as above). Most people don’t even realise that scholastic and professional education will only get you so far.

Without financial or wealth education, you may not appreciate the ‘different path’ available to you and will end up always working for the rich, not becoming rich. This is how Robert Kiyosaki’s distinguishes the two with his Rich Dad, Poor Dad concept.

However, these days if you are doing business mostly on the internet, there is, in my opinion, a really crucial fourth type of education and that is social education. So I’ll add this one into the mix.

Social education is important in any business where you are making sales and dealing with customers. But online, it’s even more important since you cannot ‘meet’ in person and much of our social behaviour relies on body language and visual and auditory cues.

Social education is about developing “emotional intelligence” towards others. It is learning to communicate effectively with people with regard to their situation, needs and feelings. It’s about active listening and empathy. It’s about connecting with a person’s highest hopes and worst fears.

Some would say that you develop the ‘sales’ skills to manipulate people. I advocate you develop social skills to match what you can offer to what people are looking for! (In that scenario, there is no need for a hard sell.)

On the internet, social education is critical to every part of your marketing, sales and support. This is because buying decisions depend so much more heavily on people’s sense of trust. Being seen as an authority and a leader builds your online credibility.

This is evident in the growing trend towards social networking and personal branding – what is termed “attraction marketing”, which is nowadays the business model of all successful internet marketers. People need to know you, like you and trust you before they will do business with you, become a customer or partner with you.

Social education is therefore one of the cornerstones of effective marketing. It teaches you aspects the psychology behind different personality types, how people make decisions, how to attract others to you, how to reach win-win outcomes, and so on.

If you spend time learning how to translate that knowledge and understanding into your personal branding, your copy writing, your presentations and your conversations, it will skyrocket your business success.

100 Mental Training Success Tips Home Business Entrepreneurs Should Know and Do

A collection of success tips that I have gathered over many years of working with independent online business entrepreneurs. I have created a list of my 100 favourites that I personally follow to drive forward my online home business. I organised the tips into areas covering attitude and discipline, focus and visualisation, time and task management, income and lifestyle, knowledge and skills, personal growth and lifestyle, evaluating your activity, and giving and adding value.

ATTITUDE & DISCIPLINE

1. Be persistent and give yourself time for momentum to kick in.

2. Make up in numbers what you lack in skills.

3. Celebrate success at every step.

4. Learn to manage the opinions – everyone has a right to have one – never make it personal.

5. You are not the message, you are the messenger.

6. Your family and friends may not understand the journey you are on.

7. Everything works when we work.

8. If you get overwhelmed and confused, go back to doing the basics.

9. Pass the three-part test – loyalty, work habits, consistency.

10. Have a warrior spirit. Set objectives and take action every day.

11. Make a commitment to any new activity. Succeeding at something is about taking not making a decision.

12. Being successful is the ability to continue with your plan long after the emotion and circumstances surrounding your original decision has passed.

13. Your confidence is what makes you attractive in the market place. People buy people they know, like and trust.

14. Avoid negative thinking and negative people that bring you down and steal your dreams.

15. FEAR is False Evidence Appearing Real. Feel the fear and do it anyway. Growth comes from stepping outside your comfort zone.

16. Run to your fears. The place where your greatest fears live is also the place where your greatest growth lies. (Robin Sharma)

17. An ounce of action is worth a ton of ebooks.

18. All excuses are equal and none of them count.

FOCUS & VISUALISATION

19. Know what you want, why you want it, and when you want it by. Write it down, read it twice a day. Know the price and pay the price.

20. Visualise your destiny – ‘see it’ and plan it – be very specific about what success looks like and feels like, and do this for each and every milestone or goal you set.

21. If you think you can or think you can’t, you will always be right. (Henry Ford)

22. Try to be solution focused.

23. Understand the true power of dreams and goals, they act like magnets pulling us forward and need to be strong enough to break away from the past pulling your back.

24. Only an idea has the power to spread.

25. The only thing you need to believe in is your own work ethic and how badly you want to succeed.

26. Keep your inner flame going with personal development and being active in the community.

27. Use positive language. Words, thoughts, actions, results. Pursue all your challenges and obstacles with a positive mental attitude.

28. Mental visualisation is all important to your longer term success. How you want to see yourself, how you hold yourself, your expectations – create a detailed set of images of who you want to be.

TIME & TASK MANAGEMENT

29. Get organised.

30. Consistency is far better than the occasional blitz.

31. Create a daily method of operation, discipline yourself and be accountable to yourself.

32. Everything works -but find a daily method of operation that works for you, around your personal situation and commitments.

33. Fill your time only with productive activities.

34. Set out your targets and work backwards so you know what needs to get done.

35. Develop a sense of urgency and get into massive action.

36. Remember that you, of all people, deserve your undivided attention.

37. Anyone or anything that tries to distract you from your mission and goals should not be tolerated.

38. Being busy is not the same as being productive. Don’t be busy being poor, be busy adding value to your life.

39. Develop good time management. It’s not the hours you put into your business, it’s the business you put into your hours.

40. Lead flow is the source of your momentum and income growth. Don’t over-worry on conversions until you have good lead flow into your business.

41. Support and encourage your team members, but don’t be responsible for someone else’s business. Balance motivating and guiding with encouraging independence.

INCOME & LIFESTYLE

42. Run your business, don’t let it run you. Build a business on the vision of the life you want to live and start living it.

43. Get going fast, massive action equals massive results.

44. Remember that selling a 6 figure income opportunity isn’t about the money, it’s about a dream lifestyle free from debt free to work when you want, where you want, how you want

45. Only market products that earn you significant return on your investment of time and budget.

46. “Top Tier” Opportunities Attract “Top Tier” People That Are Smarter (And More Fun To Work With)

47. Identify the top five things you do in your business that generate 80% of the results.

48. Know your business numbers – your running costs and your bottom line.

49. Reinvest your earnings back into your marketing.

50. Promote, promote, promote – call to action, make offers, create demand.

51. Focus on the long-term residual income potential not the short-term earnings of your business.

52..Avoid discounting. People don’t buy on price, they buy on value.

53. 80% of the world does what everyone else does and lead an ordinary, average life. Only 3% live extraordinary lives because they make extraordinary choices and do extraordinary things.

54. You are the person that sets the pace of your business. Make a decision on exactly what your goals are and develop the daily discipline to achieve them.

KNOWLEDGE & SKILLS

55. Know your craft and be knowledgeable, committed, loyal and enthusiastic about the products you choose to market and the company.

56. Keep it simple, don’t reinvent a proven formula.

57. If you get stuck, find ways to get out of the glue quickly to avoid negative impact.

58. Don’t think about what you know, be curious about things you don’t yet know.

59. If you have doubts, learn more about your company, your products, your business, your craft.

60. Better to personally act upon the information contained in two good books than to be able to quote from a hundred.

61. Build your business like you build a water pump. It takes some time to set up and you have to crank the handle, but then the water comes with just a light touch.

62. Marketing is not an exact science. It takes trial & error.

PERSONAL GROWTH & LEADERSHIP

63. Compete with yourself. Finish each month stronger than the one before so you feel and see you are growing.

64. Build trust and confidence in your community and with your audience.

65. Be a leader. Step up to the mark – get up, dress up and show up and give back.

66. Don’t miss out on opportunities to experience extraordinary things. Go the ‘extra’ mile.

67. Leadership is a choice not a title. Take 100% responsibility. Blaim is drain, never complain. You have complete control over your future.

68. Teach only what you do. People do what you do not what you say.

69. Gather testimonials for your product, your team, you. A testimonial is a true story packaged in a powerful way so as to impact and influence others.

70. Get out from behind your PC sometimes. Shoot videos outside or go do some offline advertising

71. Develop a positive ‘can-do’ ‘will-do’ attitude fuelled by your desire to succeed.

72. Affirm your belief in yourself, every single day celebrate your achievements and breakthroughs.

73. Learn and adopt what successful people do. Master the fundamentals that are working before you modify, adapt and innovate.

74. Do the uncomfortable or difficult stuff first – (“Eat That Frog”, Brian Tracy). It soon becomes comfortable and second nature.

75. Set a goal to become a millionaire, not for the money but for the person you will become (Jim Rohn)

76. Make the best of what you have but always be hungry for more.

EVALUATING YOUR ACTIVITY

77. Learn from what’s not working and become a problem solver.

78. Leave your ego at the door.

79. Check your positioning – are your leads targeted, do they convert well.

80. Plan, Do, Review. Don’t procrastinate, just get stuck in and take action. Ready, fire, aim.

81. Don’t look to the magic bullet – multi-task, look for new opportunities, test and refine.

82. Monitor your results against your plan. Did you do the activity?

83. Qualify your prospects. Don’t try to sell them, let them sell you. Questions are the answer.

84. Your results are your feedback. Blame no-one but yourself. You are where you are and how you are because of the decisions you have made over time.

85. If you’re doing the activity, getting the numbers, you’re energy and attitude is right, the it’s usually something missing from your skill set. Communication.

86. If you fail to meet your expectations on any one day, don’t drop the ball but work twice as hard the next. Don’t get used to accepting dropping the ball. Get up tomorrow a little bit better.

87. It’s easier to do the work than deal with the disappointment in yourself of not meeting your targets.

GIVING & ADDING VALUE

88. Create uniqueness & value in what you put out on the internet.

89. The market doesn’t pay you on what you need, it pays on value. Those that help the most people make the most money.

90. If you want to double your income, you must double your value in the market place.

91. Stop making it about you, your business, and what you need to happen. Instead identify what others need most and how you can help others get more of what they want.

92. Focus on taking people to the next step in your sales & marketing funnel, not all the way in one leap.

93. Authenticity dramatically increases your results.

94. Pick up the phone to connect with your leads, new members and customers.

95. Form groups and communities to target interest and build relationships (Twitter, Facebook, MySpace,LinkedIn)

96. Learn how to flick the switch with people. Develop emotional intelligence. Find their pain points and show them the solution and get them thinking in a new direction.

97. Find people, sponsor them, work with them to keep them.

98. Be clear about your business processes, what to do at each step so you can take others through that process, lead by example.

99. Teach, validate, recognise and refresh your team.

100. Seek inspiration, but every day also be someone else’ inspiration, it will feel amazing!

Social Entrepreneurs Vs Business Entrepreneurs (The Similarities and Differences)

Business Entrepreneurs

Business entrepreneurs focus more on the profit and wealth side. Their main goal is to satisfy customer needs, provide growth for shareholders, expand the influence of their business, and to expose their business to the greatest number of individuals as they are able to. Commonly, some might neglect the ecological outcomes of their habits. The most important priority for the business entrepreneur is to earn revenue. They have to obtain revenue to enable them to essentially keep on delivering assistance or products to the clientele, care for themselves and their households, and provide for their business’ progress.

In the operation of beginning their enterprise, they search for holes in the market to fill. They try to find things that people need or want, and then they make a system or product that will satisfy that need or desire. The final outcome is to bring in returns by means of material items.

Social Entrepreneurs

The social entrepreneur’s chief emphasis is the communal and/or ecological health and well being. Once they realize an obstacle in the local community, surroundings, or methods of the people, they seize actions toward helping resolve that drawback. The central end goal for the social entrepreneur is not fortune or profit. Instead, they prioritize way more on serving the wants and needs of the local community in a much more versatile method. Often times, they will involve themselves in their jobs with very little financial resources, whilst furthermore making a significant difference on society.

Social entrepreneurs help to make the planet an improved place to live in. They concentrate a lot more on the greater good. Their jobs might not produce richness and income. At times, they will invest a considerable amount of their time and focus in transforming society with little in return. Social entrepreneurs fixate on several different topics, such as the economy, social disorganization, and inequality.

The Entrepreneurs In-Between

And then there are the entrepreneurs that look closely at both the business aspect of things and the social aspect of things. Whilst making a change in modern society, they will also look closely at creating earnings. This is a critical technique and it may be even preferable to carry out this approach than an extreme form of either business or social entrepreneurship. It is due to the fact that if you concentrate a large amount on the social and environmental side of things, you could wind up having insufficient money to do anything else. In contrast, if you aim so much on the business and material side of things, you could find yourself losing concentration and priority over the greater good.

Another thing appealing with regards to social entrepreneurship and the greater good is that it certainly is great for marketing. In the event that the mass media finds a company moving in the direction of favorable environmental and societal impact, the company is going to acquire more favorable compliments and awareness. Customers will much more likely spend money on this company. It is a very good strategy for developing long-term sustainability and also long-term important relationships with customers and investors.

And yet, you will discover those businesses that concentrate on the greater-good part of things just for the favorable mass media attention. Their motives may not at all be for the greater-good but merely for the primary goal of acquiring a lot more money and awareness. These kinds of business owners and organizations will not proceed exceedingly far. Ultimately, the media, the customers, and the people will catch up with the organization. In the event that the company is not authentic in supplying social value to the community as well as the environment, they are going to be caught in the act. Sooner or later, consumers will begin discovering the company’s true behavior. You can’t cover something forever. In the event that the whole thing is an act, and the organization really wants to keep receiving that favorable mass media attention, then that organization will need to maintain “acting” to obtain that beneficial popularity. Also it becomes demanding to always keep acting continuously.

Therefore the objective of this post is to establish the main difference between social entrepreneurs and business entrepreneurs. The differences are in their actions and their motives. Social entrepreneurs concentrate more on transforming the approaches of modern society for the good of the community and the environment, whilst business entrepreneurs concentrate a lot more on the income and wealth-building aspect of things.

The most significant and effective kind of entrepreneur is the one that practices the two styles. The most influencing type of entrepreneur is one who is able to naturally get other people to like them. Click here to find out how to get people to like you.