Practical Business Coaching

By Koz Huseyin

 We have all heard the figures about the failure rate of business. In a home based business, this failure rate, can be just as big. The only difference being the speed at which failure often happens. With all this doom, and gloom, is there any good advice for the novice to business? Join me as I share some great advice about starting a home business for novices.

There are several ways to get out of being a novice and becoming a true entrepreneur, in your own home based business. Now realize that business is no easy task, especially a home based business.

A home based business has a lot of different parts, from accounting, selling, buying, and promotion. In lists of careers, an average entrepreneur will do many different tasks, which are careers in themselves!

It is unlikely we will get perfect in all the different things we need to do, to make a home business successful. However, there is nothing stopping you from outsourcing work to more capable people. It is good however, to at least know the basics, so you know the person is really doing the work to a good level.

To get here though will require learning. So, how do you learn about business? There are business courses, and they can be great at giving us a structure, and foundation to start on, but rarely do they provide the practical knowledge that every entrepreneur will need, to make a successful home business.

The solution is books. Books can do a lot to getting you to learn about any area in business that you need to learn. This is not just an initial learning period, like in life, where you went to school, and then started in life. Business needs life long learning, to master.

I want to give you a little secret. With learning about home based business, the best way that I can suggest is home based business opportunities. Home based business opportunities are like the business school for adults.

With a home based business, you get all the material you need to learn how to start and run your own successful business. This information can not only benefit you when you come up with your own business idea, but it can help you go through trials and errors, which when you learn will be able to rise well above them in the future.

Many people get stuck in a home based business or any other kind of business. Suddenly, you are at the driving seat, and there is a lot to learn. Missing out on the small but necessary factors could prove a disaster in a business.

With the home based business opportunities, the help and advice you get will be beneficial in learning how to effectively run a home based business. You may still need books along the way; however, you will learn the principles of success.

1′000’s of people all around the world are making money working from home. So, why not you? Visit start a home based business or home business advice. For more free advice.

How To Be Focused When Thinking About Starting A Home Based Business
By Koz Huseyin

 When you are working, and have dreams to start your own home based business, trying to get focused is not always easy. And this is not to mention the focus that is essential, once you actually start your home based business. So, how do you get focused?

You are only going to get focused on something, if you like the topic. This applies to your own home based business, but when working it is not always easy. After working the whole day, coming home to plan a business is not something that gives much motivation.

The first step here is to start to set goals. Your goals should not be about money or the free time you might get to have one day. Instead it is about thinking about what the business will give you.

For example, working for a boss is not about the money, even though it may seem like this on the surface. Rather, the goal here was to live the lifestyle you choose. Very rarely will someone work for someone because of love of the job.

This is one of the reasons of starting a home based business, for many people. With a home based business, you can start the kind of business you want, and from there have much more passion for what you do.

When you know what you want, and it is a strong desire, you will find you can focus on the home business planning. However, it doesn’t stop there. Even though home business planning and research, is not always the easiest thing to do, it is easy compared to the real action of running a home based business.

The biggest problem you will find, after you get passionate to work on starting a home based business, is that of distractions. From television, to radio, right down to the fact that you are home, with no boss to tell you what to do, these distractions can stop us dead in our tracks.

The solution then becomes to forget about the television. The best way to do this is to first find a dedicated place in your home, where you will run your home based business. In this place, it must be dedicated to your home business.

In some cases, you may not be able to dedicate a whole room for your business. In that case, you can easily make a section where you have dedicated it for your home based business.

When you try to do anything the first few time, it is very difficult. We have seen it when learning how to drive, learning how to use a computer, and even with relationships. It takes time to learn, and business is like that. Getting focused on your business is as simple as getting inspired to take action.

Q. What are some great sites to visit, that can give me the information to get started in a home business?

home business opportunities special report goal setting system home business advice

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Investing Full-Time is Overrated
By Alan Brymer

 At any rate, I’ve met a lot of investors who are itching to get to the point where they are making enough money in real estate that they can quit their 9 to 5 and invest full-time. This seems like the American Dream, but I will play Devil’s Advocate and be the one guy to point out the less glamorous side of investing full-time:

1) Living off your investments is not the same as retiring early. I’m all for retiring early, but real estate is an active investment. It has been described as a second job. It refer to it as running a business. It can be a very lucrative business, but for the most part it is going to require time and effort to stay on top of things. And in many ways, running a business is more stressful, with more responsibilities, risks, and obligations than having a job.

2) Say goodbye to any and all job benefits. Because I am self-employed, I had to pay cold hard cash each time we had a baby, about $5000-6000 each time, in addition to our regular monthly insurance premiums. What a joke! Our health insurance did not pay for a daggone thing. Meanwhile, my sister and everyone around me paid $25 here, $30 there for doctor’s office co-pays, and nothing more. The echoes of my grinding teeth can still be heard in distant parts of the earth.

Now, of course, if your business is making money hand over fist, you might think $5000 here and there is no big deal, but I can virtually guarantee that these kinds of bills will come due on a month when you’re running low on funds, waiting an eternity for some buyer to finally get qualified.

3) Are you doing what you love with your time? Are you going to invest full-time because you love investing, or because you want to make more money? If the answer is “more money,” I challenge you to be true to yourself, and find a way to make more money in real estate part-time, and do what you love most of the day.

If you work smart, you can make enough money in real estate in a few hours each week to supplement even a low-paying job, like teaching school. Remember, real estate is just a way to have more of what you want in life. So what do you want?

4) Real estate is a cash monster. Investing requires cash-and lots of it. It doesn’t have to be yours, but it still has to come from somewhere. Few investors who don’t have enough private funds available can resist the temptation to use their own cash to do a deal. This is the beginning of the end.

No one will lend you money to pay your own bills, or your team, or your advertising, and every investor I’ve seen who starts using his own funds eventually runs out-especially those who sell houses by doing lease/options. It is an industry where unexpected surprises come along that tie up or cost us thousands at a time ($5,000 to clean up after a tenant here, $5,000 reduction in price when selling in order to make the deal work there).

It makes sense for a lot of people to work for their own income and let their investments compound and grow on their own, untouched. If you’ve ever read Mark Haroldsen’s book Financial Genius, he tells a good story that emphasizes the shame that goes along with “dipping into your capital” for personal use. Whether you subscribe to that belief or not is up to you, but he does make a good point (unless of course you make many times more by working on real estate full-time).

5) How good are you at finding motivated sellers? How consistently have you been finding deals up until now? I have seen a few investors strike it big with one great deal, quit their jobs, and then fail to find more deals consistently and flounder as a result. This is why I’m not big on the Leave Your Doofus Boss in Only 90 Days philosophy. One or two deals does not a business owner make.

If I had a wife and kids to feed and were considering the jump from part-time to full-time, I’d make very certain that I’m 100% capable of finding at least one deal per month, having done it consistently for at least a year first.

6) Do you really have enough to do for 8 hours per day? Ron Legrand said once, “If you can’t make money part-time, you can’t make money full-time.” Working part-time forces you to stay sharp and manage your time well. You are forced to delegate, because there is just not enough time in the day to try to do it all yourself. You use your time wisely and do more deals in less time.

I have seen a lot of full-time investors get stuck doing things like fixing up houses themselves, driving around looking for junkers, etc, because they figure “I’ve got the time.” If that’s what you truly enjoy doing with your life, then great.

If not, may I suggest a third alternative: Invest in real estate part-time until you can run your business successfully in just 1-2 hours per day. Then, if you are determined to do it full-time, but are happy with the income your are already making, then do it full-time but continue to work on it for only 1-2 hours per day. What should you do with the rest of the day? Whatever the heck YOU want to do with your life.

Alan Brymer is has been a full-time investor since his first property at the age of 22, His investment company was named by the Utah Valley Entrepreneurial Forum as one of the “Top 25 Companies Under Five Years Old.” Alan is also a frequent guest expert for the news media, having been featured on multiple television programs and magazines as a real estate expert. To read more of Alan’s articles and blog, go to www.AlanBrymer.com”>www.AlanBrymer.com.

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