7 Reasons

If you have started an internet business you may be aware of the statistics. 97% of internet businesses fail. However this should not deter your from succeeding with your own online home business but should further encourage you to be in the 3% that make it. You can achieve this by avoiding the mistakes that the other 97% of internet marketers make: Not having a business plan A business plan is crucial in any type of business as it helps to set out the foundation and build the backbone for the business. Your Internet home business plan should include important considerations such as how much time you are going to commit to the online home business, a timeline of what you want to achieve and when you want to achieve it by and a budget to give you an idea of what your investment may be. Referring back to your business plan will help you stay on track during your business venture. Remember no plan means no goal, so what is the point? Not doing any research Many Internet home business owners fail because they have not performed proper research. The headline "make $7585 in 1 week" caught their attention and so they dive into an internet business opportunity without really knowing the product or system they signed up for. Remember to do proper research on the internet business opportunity that attracts your attention. This includes research on the particular products of interest to you as well as the competition. Researching also gives you a chance to familiarise yourself with the industry and your business allowing you to be able to grow your business with the backup of proper knowledge. You can then set yourself up apart from your competition and strive for better results. Fail to take action When you begin your online home business research, you will without a doubt be confronted with many great offers to teach your more about how to make money online, ways to market your business, how to build your business and so on. Free eBooks, videos and software are thrown at your left, right and center. Many new online home business owners make the mistake of downloading everything they can and leave it sitting there to take up space on their hard drive. The Internet is a wonder of information and unless you can use that information and act on it, you will unfortunately be left behind. hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h hello24h Lack focus and commitment This is yet another trap that many online home business owners fall into. Once you have done your research and chosen your Internet business niche and market. Your next step is to build your business and focus on it. It is quite easy, especially with the Internet, to divert your focus and jump from one opportunity to another. The problem is there are new online home business ideas and opportunities popping up every day. When do you stop "browsing" and grow your business? If you have done the proper research and found the Internet business that suits you then start focusing and committing yourself to it. This is the only way you will start seeing results. Lack originality All the business opportunities you find on the internet will have the same promotional materials for everyone. A lot of online home business owners lack the time and effort to make their website original. They use the same banners as everyone else, the same advertising system, the same website templates and even the same content. What can you do to make your website and Internet business different to all the others that are using the same system to promote the same products? Losing touch and giving up Many people have an excitement level of 150% when they first start an online home business. They spend a lot of time making their website look pretty. Then after a few weeks they get bored and forget about their website. They fail to keep it updated. They fail to contact their subscribers. They fail to continue learning about their industry. They fail. They Do Not Work. One of the most obvious reasons people fail with an online home business is because they do not actually work. Remember working at home with your own online home business should be treated the same as working for someone else. You are your own boss and have much flexibility with work schedule, work attire and work habits but don't let this pull you down and make you lazy. Remember you still have goals you want to achieve. You still have work to do.

The Six Fundamental Business

A product or service that provides a solution to a problem or a physical or emotional benefit (obviously important); Demand - If there is not an existing demand, you are fighting a losing battle; Traffic - a steady flow of prospects that eventually become customers; Real estate - a location to conduct business (internet url, storefront, street corner, etc.); An element of uniqueness or personality (if you are selling the exact same thing in the exact same way as everyone else, it will be very difficult to be successful for very long). A mastermind team of two or more individuals with a common goal for the business. This does not necessarily mean you have to have employees or a partnership business. Joint venture partners or affiliate partners, where there is a mutual benefit for the growth your business can generate enormous success The first two fundamentals, product and demand are obvious because no one will even bring out their wallet or purse if you are not providing them with a benefit (short of robbery or charity). Likewise, you would have to engage in strong arm (robbery) or government tactics to create a demand where there is none. Again, the next two factors are an obvious necessity that speak for themselves. Business factors 5 and six however, are the most overlooked fundamentals of any business. Even major corporations go bankrupt because they misunderstand the last two factors on the list that do not seem as important. However, I will give a couple of examples as to why the last two basic success principles, can outweigh the more prominently known business needs. Most start up businesses fail, not because they are missing out on a product that is in demand or a good location where potential customers exist. Businesses usually fail when the owner does not have the support network or team necessary to handle growth and they become overwhelmed with all of the small details of running a business, and they give up because the cost to their health, marriage or happiness outweighs the reward. Another major cause of business failure comes when a business owner mistakenly tries to copy the business model of a larger company that is failing in that niche market. Large companies will often buy out small potential competitors to prevent future competition and then spend huge sums of money to prop up the business for appearance sake for the larger company, when the market does not justify the investment. Then, when others think there is huge profit based on the outward false impression, they want to jump on the band wagon only for profit motives without doing their own market research. It is very important to create your own unique identity in whatever business you are in. It is also important to remember that your success relies on your ability to serve your customer, not the other way around. Many years ago, when I had an hourly job and used to buy beer after work to relax with, there was a liquor store within a block of where I worked. It was a large store that had many investors. They spent a lot of money on advertising and employees and always had some kind of sale going on to attract more traffic. They also had the best location imaginable at the main intersection of the two highways coming through town. Their closest competitor was a tiny place one the edge of town. From the first time I went to the store, the manager seemed somewhat arrogant. As it turned out, he was more than that. One day they were out of the kind of beer that I liked and I asked if there was some in the back. His reply was unbelievable. He said,"If it's not in the cooler we don't have it. It's not like we stock up on that kind of (expletive) beer. depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone depresszone I felt insulted, because the beer I was requesting was an inexpensive brand and he made it sound as though my needs or desires were less important than someone who spent more money. That is not a good idea if you want to keep a customer. Needless to say, I did not go back for awhile. The next time I did go back, he made sure he eliminated any future desire I might have of returning. When I asked him for a sack for the beer, he replied, "what's wrong with the handle on the 12 pack?" I have never been back to that business and the friendly little store on the edge of town has a full parking lot at times. I wonder why. The only other time I have come across a business that seemed to try to eliminate future business, was from a manager at a chicken franchise restaurant that had a 1/2 price sale on specific dinners right on the front of the store. I ordered one of those dinners and was charged full price. I asked him to correct the billing and he told me he could not because he had entered it into the register as a dinner and it was my fault for not asking for the 'special' so he could push the right button. Now he can not change it or it will screw up his books. He refused to give me my change and I filed a complaint with his corporate office. I have no idea if he is still there because I will not go back. I do not understand what the goals of these two managers were, however, I am quite sure they are not in tune with the investors in those companies. That kind of scenario is as undesirable to a business owner or investor as an uncooperative spouse who has no regard for the business, but demands access to the bank accounts. It is a recipe for failure. It is better to have a competitor as part of your mastermind team, when possible, to work as a team to generate business for both companies and share in the rewards. That scenario is always more profitable than competition from within tearing each other down. Competitive internet businesses commonly take turns promoting each others products as joint venture partners, benefiting both businesses far more than they would benefit on their own. It is also extremely important if you are starting out, to find a mentor who is established in the business arena you are wanting to go into. Their experience and insight can literally save you years of trial and error, and if you can create a business that is mutually beneficial, the sky is the limit to your success. It seems obvious to an outside observer that the success of a business would rely on it's ability to stand out from the crowd and be unique in serving it's customers. However, in today's franchise society, where big corporations have thousands of exact duplicate small businesses owned by different franchisees, small business owners and investors often mistakenly look at these large entities as an example to follow, when in fact, many of these franchise giants are crumbling under their own weight. One of the biggest problems large corporations face today, is that they have become so diversified within themselves, as they were buying out competitors, in order to own various market shares, they no longer have the mastermind team that originally brought them to this point of business success. If they have diversified to much from the original goal as they grew, they begin to compete with themselves within the company. As a result, in order to show profitability in one branch of the company, a middle executive must be in competition with an executive in another branch of the company in order to thrive and continue to get investors to loan to his branch of the company. This kind of competition can be damaging, if the bureaucracy and diversification is to large. In today's marketplace, huge corporations are straddled with debt, have huge bureaucracies, and only seem to be in business for the profit and the investor. The time is right and the low hanging fruit is there if you want to create a business with the customer in mind.

Next Generation

Children may not automatically want to be part of the family business. Sometimes children who have grown up in the business become bored, uninterested or lack the desire and drive necessary to successfully run the business in the future. They may actually take the business for granted, assuming it will always be there for them. Understanding this going in, a family business can more effectively plan for generational issues in the growth and future of the business. Preparing the Next Generation The questions to ask are: Why do children join a family business? What are their motivations? -- To Influence the Family: This can be a good thing or a bad thing, depending on the kid's underlying motivations. A Family Business should foster a mission which positively influences family members, not provide ammo for the children to attack each other. Positive Influences include: - Family Education Fund/ Emphasis on Continuing Education - Foster an Atmosphere of Openness & Learning - Set good examples for kids to aspire toward - Ingrain the values of Business Integrity and Ethical Responsibility - Foster & Promote Civic Duty - Promote & Support Community Volunteer Work, Projects and Board representation -- To Help the Family Succeed: Success for the Family Business should translate to the success of the Family. Future generations can have better lives, pursue their passions and be happier if part of a cohesive team striving for a better future for the entire family- not just those in the business. 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup An Opportunity to Further one's Career: It isn't necessary for every family member to remain with the business. Family members should be encouraged to pursue their passions, and the family business can be the proving grounds, the incubator, for family who want to pursue other careers or possible spin off another related business. Often, children find that after working for other companies early in their careers, the Family Business is a great career destination, allowing them to reach their full potential and constructively apply their expertise and experience. -- Like the Family Business: Having a passion for the industry and business the family enterprise occupies is often a major reason why family members join the Company. What also plays into this is the requirement to work outside the Company to gain expertise and experience. When the family member returns to the family business, there is inherent respect for the opportunity given and the successful growth history of their predecessors before them. Having a firm understanding of what makes the family business special and unique creates a strong loyalty and passion for it. -- The Challenge: If family members worked in the family business from a young age, were taught the value of a dollar, went off to college and to work for an outside Company for a several year period, then returning to the family enterprise can be a fantastic challenge to pursue. For this reason, it is important the family business provides qualified family members with a real growth opportunity, a challenge to inspire drive, loyalty and passion in their career maturation. -- Sense of Duty and Responsibility: Some of the older children in the family's next generations may feel the duty and responsibility to serve their family interests and ensure future succession success of the business. This becomes apparent after the younger children become involved in the Company and sometimes the older child moves onto another career since his or her passion was extinguished by the stress and forbearance of fiduciary responsibility. Or, it is sometimes the older children who spin off a subsidiary or new Company after feeling they have accomplished their role in the Company. It is important to encourage the family's children to pursue their passions, no matter what industry, and gain outside experience; however, sometimes it is a necessity to have the older child assume responsibilities early on if resources are scarce in the Company's particular Growth Stage. -- To Make Money: While this is often the number one reason family members join the family business, it is closely followed by the "Liking the Business" category. This relationship certainly makes sense: making money is a major requirement of any career but it is strongly linked to liking what you are doing, the passion factor. A well-prepared family business provides ample growth opportunities for family members to nurture their passion and be well rewarded for it through a competitive Compensation Package. Considerations when planning and preparing for the next Generation in a Family Business -- When family members are young, have them work on simple jobs on a part-time basis. - This provides insights into the business, helps them understand the business from the bottom up, gives them a strong work ethic and encourages them to pursue and finish higher education. -- Work for an outside Company after graduating from college to broaden training and background. - If the family members worked in the lower ranks of the business before and during high school and during the summers in his/her college years, then outside experience can justify moving a family member into a higher position level upon entering back into the business. -- Some tips when preparing for the next generation to join the Company: - Never allow a family member to work in senior management until that member has worked for someone else for a few years. - Rotate the family member throughout different positions to cross train, as well as, pinpoint interests and skills. - Promotions only come when earned, just like everyone else in the Company. - Devote time every day, preferably over breakfast, for face-to-face mentoring, teaching and training. - Don't take business issues and matters back home. - Reward the family member with responsibility so he or she can learn to manage the business in order to potentially take over or have executive level responsibilities in the future. - Make sure the family member knows you trust him or her. - Allow them to make mistakes and fail; give them room to grow and learn. Help them when asked; give them autonomy. Next Generation Issues and Solutions Here are some common main generational issues characteristic to family business operations and how to effectively deal with them. -- The Business Owner Who Won't Delegate: A very common problem in family enterprises is the owner or CEO who can't let go. Many owners have a strong personal connection to the business which prevents them from allowing next generations to assume more responsibility in the business.

7 Reasons

So when is the best time to start an internet business? Many people would think that starting an internet business in an economic downturn or a recession is a bad idea. Bad economic times may have you fearful and worried to launch an internet business on your own, but you may not know that many top corporations got their start right in the middle of a recession. Sixteen out of the thirty corporations that make up the current DOW Jones Industrial average (corporations that have been around a long time), are ones that started during a recession. Walt Disney Corporation began during the recession of 1923 to 1924. Hewlett Packard began in 1938 during the Great Depression. Microsoft Corporation began during the 1975 recession. McDonald's is a similar story. So here are seven reasons why a recession is a perfect time to launch an internet business. 1. INTERNET BUSINESS HAS MINIMAL STARTUP COSTS In a time of recession, people's budgets are shrinking, people are getting pay cuts, people are getting laid off, and there is not enough credit out there available any more. Starting any business takes money, but what if you don't have much money to start? Internet business is the best kind of business in this case because you can get started for next to nothing. Most 'brick and mortar' businesses require a store front or building to be purchased, inventory needs to be bought right away, production costs to launch a product, etc. With internet business and information products, you can sit down and create an information product such as an e-book for free with no production costs. 2. YOU CAN LAUNCH AND PROVE YOUR IDEA FAST Getting your products to the market and getting your business up and going right away is very important. Most regular type businesses operate for two years or more before they actually make a profit due to startup costs and production costs of products. You make a huge investment in the beginning hoping that someday it will pay off and you will actually have a profit. Rather than waiting two or plus years, which is a huge gamble, with internet business you can get something started very quickly and will know right away if it's a good idea or not. If your idea isn't successful, you'll know right away and you can move on to the next idea with minimum time and financial input involved in it. Times of uncertainty are times for opportunity, so you are able to prove your idea in a timely manner. 3. INTERNET BUSINESS IS LOW COST, HIGH IMPACT MARKETING Marketing is the key to business, and you want to be a good marketer putting adequate time and money into marketing. The great thing about marketing on the internet is that because there are such low costs, there are extremely cost effective or even free ways to market yourself online. Many other businesses need to use mail or billboards, however with internet marketing, people find you through all the free content you publish (podcasts, videos, blogs, etc). This attracts people magnetically to you. The key to surviving in a recession is getting the best bang for your buck when it comes to marketing. Internet marketing is extremely easy to track, you can track the amount of clicks coming in, track when someone hits a landing page, track where they came from, and even track the conversion rates for people that sign up for your product or who buy from you. This helps you to be laser precise and cost effective. 4. COMPETITION IS ALWAYS WEAKER IN A RECESSION Most companies in the midst of a recession are acting out of fear, and tend to do foolish things business wise as a reaction to that fear. They start to cut their marketing budgets, and shorten up where their money is going. Cutting back on marketing in a recession is certain death to your business, remember the big companies we mentioned at the beginning of this article? These business thrived and were successful because they stepped it up and did more marketing. They were able to achieve what we like to call 'massive mindshare,' they understood their competition was weaker during this time. Marketing also was cheaper because less people were spending on marketing and advertising. Because internet business is so cost effective, you can pull ahead of the competition and be successful. 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 3manup 5. YOU DON'T HAVE TO ASK YOUR FAMILY AND FRIENDS TO INVEST When starting a business, one would probably ask, "Where will I get the money from?" The most likely candidates to ask from would be family and friends. But this does get tricky, asking your family and friends to invest in something you don't know the outcome of whether it will be successful or not. MLM's (Multi Level Marketing) schemes get a bad rap because they are based on selling to those who are closest to and getting them to buy into your business. Internet business is great because it's very slim and trim when it comes to initial investment, so it helps you to steer clear of the awkwardness of asking for family and friends to invest. Startup is so easy, and cost is minimal. 6. YOU'VE JUST LOST YOUR JOB OR TAKEN A PAY CUT Maybe you've just lost your job or take a big cut in your pay and your bills are not matching up. Internet business is a great way to go because for little money and very little time you can prove an idea out, your don't have to wait a year or more to get the income you need now. In this economic time, it's definitely easier to start a business than to go out and try to find a regular job. Statistics say that 1 in 12 Americans are currently unemployed, and 80% of jobs will hire either internally or someone they know, it's all through networking. You also are competing with people that may be more qualified than you are, so you will have a much better chance of succeeding by going with internet business than playing the odds of getting a regular job. 7. TAKE CONTROL OF YOUR LIFE AND FINANCES The society we live in and all the systems we depend on financially to keep things working are starting to break down in this difficult economic time. The breakdown of the housing market, banks, and other financial systems we depend on is impacting people's lives in huge ways. At a time when people are losing their jobs and getting pay cuts, internet business success is actually increasing. With this comes freedom, an ability to continue this life in the way that you want it, at a comfort level that you want. You don't have to worry about losing your job, because it's something you have direct control over as well as direct access. Because you are in control over your own business, any changes that may happen you can respond to in a moment's notice to reverse any negative effects that might occur. Internet business gives you the means to take control of your life and finances.

Selling Your Business

If you are selling your business because of above reason then please don't sell it try to recall yourself how much you have worked for your business. Do not sell you business just because you get bored doing same thing, try to introduce new things in your business you can even introduce new services. myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery myfascinatingjewlery

What Home Refinance does for you

Home Refinance- Basically, a home refinance is paying off one home loan with another loan. So the question is, should you refinance or not? How do you know when it is right for you to get a home refinance mortgage? In other words, when does home refinance make sense for you?
What Home Refinance does for you

Whenever interest rates drop, as they sometimes do, homeowners might have the opportunity to save money on their loan payments. As a rule of thumb, lower interest rates translate into lower mortgage loan rates. Home refinance allows you to take advantage of low mortgage rates. With a new loan for a relatively lower interest rate, you can save a few bucks on every monthly payment that you have to make.

The decision-making process of refinance 2nd home  involves one basic calculation. And that is if your savings from reduced mortgage payments are greater than the up-front costs. This then is where the basics of home refinance decision lie.

Use a Home Refinance Calculator
Nearly all types of financial calculator require a simple rule of thumb. Often, when we want to calculate our loan finances, we are told to look for a minimum interest rate improvement of, say, two percentage points from our existing mortgage before getting serious about home refinance.

However, when it comes to home refinance mortgage, such rules of thumb can be very misleading. The cut in interest rate which you need in order to come out ahead with your home refinance venture may vary dramatically. More often than not, interest rate cuts depend on how long you plan to hold the new mortgage, how many years you have already paid on the current mortgage, and the increasingly available opportunities for cutting closing costs.
Thus, it is hard to come up with just one rule that can cover all possible scenarios involved in home refinance with reasonable accuracy. So how do you know when it’s right for you to refinance your home?

http://howmuchwillisaveifirefina.webeden.co.uk/home/4593577982?preview=Y