HomeBiz-Tips
E-Mag
The Online
Marketers Friendly E-Mag |
Date: 6-1-2003 Issue: June-->1-15
S. Kumar, Editor, www.learnhomebusiness.com
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Welcome to June issue of "HomeBiz-Tips"
Hi ,
What are the early
pitfalls one has to face in a home business? Let
me list 3 of them that I had to combat in my first month.
1. Computer and
Internet addiction: My first PC was a like lovely toy! Soon I became
addicted to all those games and developed wander lust on the WWW.
I use to the play the
game 'for a break' and breaks usually ended after 3 hours! Similarly, to
do
'research' I use to wander the net from morning till evening.
I became wiser only
after 3 months--when nothing happened to my online business!
2. Family &
Friends: My friends and family started taking me for granted with a
simple statement. "Oh, now you have all the time in the world!".
Friends even started dropping in just to chat!
The toughest part was
to tell them to keep away and leave me alone to do my work!
3. Joining For Every
Other Business Opportunity In Town: In my first month I joined for
more than 300 'Money Making Programs'! I did not stop there. I tried to
promote all of them.
Obviously, the result was
disaster!
Today, I concentrate
on Just
4 time-tested programs that will give me long term benefits.
"So become sharp
& focused, treat the business with dead seriousness and choose your programs
wisely" -That's the lessons I learned in the initial stages of my
home business.
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Read
More About:
The
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Creating a Passive Income - The Myths
Copyright 2003 by Kevin Bidwell
"Join our program and retire in 3 months..." yeah, right.
We all want to get to a place where we have ongoing, hands-off income that continues without us having to work for
it. These ads play into that desire by offering us the promise of "easy continuing income."
The reality is often far from the sales pitch.
The first step in developing an ongoing, passive income is to dispel some of the myths surrounding the sales hype.
Here are some of the most common myths about creating a passive, ongoing online income:
Myth One: Put up a Website and Sit Back and Collect the
Checks.
Those of us who have run Internet businesses for a while can tell you: Making a good living on the Internet requires
marketing, customer service and order fulfillment. Either you have to do it yourself or you need to hire someone to do
it. Either way, having a website and selling your own products is often far from the "laying around on the beach
while collecting your checks" image.
Myth Two: MLM/Networking Income is Residual Income.
Almost always a part of the sales pitch in networking is
"creating residual income." While that is *possible* with MLM, it is very difficult to maintain. Here's why...
MLM income is built on three basic factors: new purchases by retail customers, the recruiting of new *wholesale*
customers and the ongoing purchases by both groups. In order to have an ongoing "residual" income, you need to recruit,
train and motivate a sufficient number of *leaders* who will then continue the process in growing numbers.
This is rarely the case.
Instead, top leaders have found it is easier to build a
large list of MLM "junkies" who they then take into one
program after another. If you stopped joining new programs, your income would also dwindle within a few months.
Myth Three: Just Build Your Business and Hire People to Run
It for You.
This does work, but it is often more of a nightmare than a dream.
At various times I have had anywhere from 0 to 15 employees. I have had many friends and clients with much numbers up to
1,000 employees. We all have the same opinion: Unless you have enough employees and
profit's to hire top quality
managers, employees are a constant headache.
If you DO build a big enough, profitable enough, business and if you have the right personality, then building your
business and hiring people to run it is a great idea.
Myth Four: Developing A Passive Income is Easy.
I don't want you to fall for this one, either. Developing
a passive income will take some perseverance. The steps to getting it done are not difficult, but it requires one
thing many people will not put in--consistency. If a person does the right things, day after day, they will create an
ongoing, growing income. If they try today, then one day next week, then one day a month later, they are unlikely to
ever get there.
Developing a passive, on-going, hands-free income is worth the effort. Avoid trusting in these four fantasies, get
ready to work and you can have a supplemental income in no time at all. Keep it up long enough and you can
eventually retire.
========================================
Kevin Bidwell is owner of http://www.all-in-one-business.com
Kevin just finished a complete report on building a passive income. Grab your copy here:
http://www.All-In-One-Business.com/passive
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Well! That sums up the first fortnight of
June. Do not Forget To Rate 'HomeBiz-Tips'. Your
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Cordially -- S. Kumar
Publisher: http://www.learnhomebusiness.com
Subscribe: Click
Here To Subscribe
Author of eBook:
"Become A Global Homebusiness Pro.."
Download It FREE From - http://www.learnhomebusiness.com
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Copyright 2003: S. Kumar, http://www.learnhomebusiness.com
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