i) Straight forward strategy
A good business strategy and planning instantly distinguish between your own business with the competitors, and give your potential or existing clients no reason for not to do business with you. A good home based business strategy should have considering the targeted market needs, the competitors and the strength and weakness.

Many home based business owner try to provide all services or all type of products to all peoples during the business start up, which i can say this is having no proper strategy set at all! The business owner must have to concentrate and develop the business start from a small niche market and slowly expand to provide an one stop solution.

ii) Follow the plan and set your budget
Develop a business plan before you start the business, and update it from time to time during the business goes on. A proper planning and proper budgeting would help the business to attain higher goals that if you just plugged always at your business one day at a time. The plan, if properly developed, it can even help the business owner to get back on track if something gone wrong.

iii) Protect your cash!
Running a small home based business, you are going to constantly battle to hold on the cash. Overruns in start up cost, lower anticipated profit margin and sales grow slower than expected are among the most common cash drains in business. As the business owner, you have to learn to guard your cash in the sense of rejecting to many different demands on your business. Learn to project the business cash flow in fair degree accuracy is the most important aspect in a home based business. No discipline in controlling the cash would easily cause the business falls into failure.

iv) Watch the profit margin
Many business focus too much on the sales but overlook the profit margin, even some of them are under pricing the service or product provided. Even increase the selling price might be crucial, but consistently work on lower down the cost may be more effective. A small change in the cost structure would lead to a big change on your profit margin.

v) Have fun with the business
Make sure you are running a business that falls into your own interest otherwise you will feel boring just because you have treat the business as a daily routine job that doesn’t means for anything.

Banks

Bank can be said is the primary funding source for any home based business, small business or even an established business. To apply for any loan from bank, you should prepare a proposal or in other word, a business plan, the bank would want to see your financial statement, cash flow projection, business background, asset for the business and so on. The bank like the ultimate protection of hard asset, they also want to feel that there is little chance that the business will have to call upon these assets to pay off the loan in any case.

Bank also reluctant to loan to a business that couldn’t show at least a 2 years profitable operation, they would want to see also the business owner is heavily invested in the business before they approve the loan. The bank will not also release any loan that the loan amount is more than 50% of the business capitalization.

Personal loan

Personal loan can be a great funding source for your home based business, and one of the most common means of obtaining funds from this type of source is through a home equity loan. If you have an assets (NOT YOUR LIVING HOME!) that you have pay the mortgage for several years, you can consider to refinance the asset. You can then use the fund from your home equity loan to operate your business.

SBA loan

Small Business Administration(SBA) is also one of the great funding source for small business and home based business. SBA do not usually make loan directly to small business but they will guarantee up to 90% of of bank loan to the business. I would say the term and condition provided by the SBA from any country is different, you should contact your local SBA firm for more detail information.

Look for investor

Look for any investors that might have interest on your field of home based business, prepare a business plan for your business featuring every single aspect in running the business, particularly on the financial part and make an achievable commitment to them on the return percentage they can make from their investment.

Scope of product
Creating more product lines is one of the strategy to provide the client an one stop shopping service.

State of art product
Create an technically advance product or service can form a powerful strategy if the business has the capability to offer state of art product, and usually this type of product will cost more than a normal one.

Brand name product
Generally a product established with strong brand name would command at higher price and create a memorable brand would usually cost the business expensive in term of advertising.

Niche market
Offering the product or service to a target niche market is one of the common strategy for small business. Usually smaller volume of product would cost higher operating cost, but the business would face lesser competition in the market.

Service
Offering a world class customer service can be used to differentiate a business from the competitor who offer low class of service quality or totally not at all.

There are so many benefits that you could get when you start your business online. Some of them are, you could reach a wider market worldwide, you don’t have to worry about office supplies since you work from home, and you could minimize the expenses to build a new office.

For some people who don’t know about how to build a website, they choose to trust other people to build it for them. In short, they hire a web designer to create a great website for them. The web designer, especially the professional one, often understands about your needs. They only need to know in what purpose you want to create the website.

If you want to build it for your small business, they could create a website that feels professional and fits with your target market. If you want t a personal yet professional look, they will make it looks friendly. Getting a website from the web designer often leads you to purchase the complete package. Web designer often will offer you a complete package for your business website, including the web template, web hosting, and a domain name. This will make you easier to get all you want in one spot.

Before you choose to buy the complete package from your web designer, you need to watch out for several things first. Ask them where is the URL of the web hosting and the domain name provider that you want to purchase in the package. Spend some of your time to read the offers in those websites, and find out whether it matches with your needs or not. Several things that you should look out for are the uptime, bandwidth, and disk space.

Uptime will show you about how long your website could be accessed by other people. You need to shot for at least 90% to 99.99% uptime for this. The higher the number, the longer time for your website to be accessed by visitor without getting the server crash problem. Bandwidth will show you the amount of website or files that being accessed in or out from your website.

For startup business, you need to get at least 5GB bandwidth to make sure more people could accessed your website before you run out of bandwidth. Disk space itself will be used as your website storage. Either you want to put your website pages, files, videos or anything, you will put it in here. Getting 1GB of disk space is a minimum requirement for your small business.

If you don’t know how to choose the best web hosting packages that contain web hosting plan, template, and a domain name in the same place, you could ask the package from your web designer. He will gladly show you which web hosting that is better for your small business website.

i) Free gifts
Always accompany the product or service with a small gift, people just like free gift and there is no question about it. But make sure the free gift is related to what you are selling and it can be used together with the product or service. For example, a free DVD game is come with a purchase of a PS3 console, a free headphone is come with a mini HiFi.

ii) Distribute coupons
Distribute coupon to the public and encourage them to buy from you, you don’t have to distribute it through an advertising campaign but you can distribute it in the entrance of shopping center, distribute through the local book store, or distribute it through the first purchase from the customer. Design your coupon as attractive as possible, you stand a chance to close a deal.

iii) Organize contest
Organize free entrance contest for the public, develop an interesting contest and attract the public, make sure you make it with fun and you will attract the media coverage to publish the event, yet another free advertising for your business.

iv) Organize and participate in event
Organize and participate in any public event to gain public exposure for your home based business, because you don’t have a sales outlet where you will not gain much public appearance, actively participate is these events and get people to know your business.

v) New customer offers
Attracting new customer to purchase something from you is the most difficult challenge for your home based business, try to give offer for new customer during their first purchase, if no offer in price is possible, at least give out some freebies or second purchase offer, this will build the customer stronger first impression to your business.

There are so many ways in getting visitor to your website, but is most of them would turn into your real customer? Unless you are getting the visitors direct from the search engine like Google. Why i am saying so? Let me ask you few questions, where is the first place you will be going when you are trying to search for online information?

Yes, is Google! Which sites you will be clicking after the search result appear? Yes, first site appear on top. Of course, you wouldn’t want to waste your time to browse every each of the site appear in search result but would only pick one or two from the top of the result list, unless you are looking for deep information.

Ok, let come back to our topic, how to make your website appear in the first or second spot in the search result, it can be done in two way in general, onpage SEO or offpage SEO. On page means you do whatever necessary which is complying with the SEO rule in your own website, whereby offpage means you do whatever necessary which is out of your website.

Both methods are relatively important, having no question, you have full control over your own website so you can have your onpage optimization done easily. Whereby offpage is kind of more difficult where the work is not under your own control. One of the most famous offpage SEO is link building. Link building means your link are appear in other website and the visitor from that website can easily browse your site from that link.

Indirectly, if you get a link from other website, google count it as a credit into your website, or giving your website a vote. The more votes you get, the higher your webpage will be appearing in the search result when the searcher searching for relevant information.

I hope the above information give you a rough idea on how to make your website to be more visible in search engine like google by means of onpage optimization and offpage optimization (i.e. link building). You can also browse one of the link building service provider who charge quite a low service cost while searching in major Search Engine.

i) Product – There are several aspect that the business owner should take into consideration for the product or service provided in relation to the marketing strategy. The business owner have to consider the benefit for the consumer or customer if they purchase the product or service and detail research in this area is a must. The business owner have to think of creating a outstanding packaging that it could be separated from the competitors’ packaging. The business owner also have to consider the warranty use of the product and how to make the customer feel that they are staying in the comfortable zone after they buy your product.

ii) Price – The next important P is the pricing strategy, if you set the price for a product high you will be facing a great resistance in pursuing people to purchase your product, if you set the price for a product low you will generate a perception of low quality for the product. The business owner have to do some home works to find out what is the best price to charge in order to convince the customer that they have a perception that they are not buying an expensive product with the same product quality which the competitors are able to provide.

iii) Promotion – The business owner have to think on how to promote the product or service provided in order to generate great sales projection. The activities that the business owner would go through includes identify the type of advertising medium that is to be used, the marketing effort that is to be carried out, discuss about public relation, describe the promotional and the plan for using advertising specialties or premium items such as pencil, flower and so on.

iv) Place – The word place means by itself indicate that where your product should be sell at and where your customer can purchase your products. Most of the home based business or small business are selling their product through website, auction or direct mail order. For example, if you own a SEO company and where you sell your SEO product should be through online marketplace like forum, online classifieds, webcart and so on. Place is not determined as where the product originated but is best determined as where you should sell your product.

i) The customer – You must understand the market needs, be focus on a niche market as well as how often the prospect will buy your product or services. You must also know exactly what those customers are doing even you have to know in which sector they are belong to. Understand the customer well is important to your home based business, because they play an important role in rating your products or services and how well you have done on the customer service and follow up. As a business owner, it is also important to know what question would your prospect ask before they raise it to you.

ii) The products – Before you launch the product into the market, you as the business owner (sometimes the product designer as well) have to know in detail what your product is. You have to do your homework on research, training and as well as feedback from customer to get the full knowledge about the product. The better you know about the product, you will be able to identify the potential problem or question that your customer would face, thus you are able to provide a prompt solution to the customer in case they raise. With this, the image for your business in terms of customer service also increase.

iii) The tool – The tool that i mentioned it here is not the tool that you use to create the product or the tool you use to repair the product. The tool that i am talking about here is strategy that you use to sale your product, this includes product sample, customer testimonial and etc. I would say every type of home based business would have a different set of sales tools.

iv) The competitors – Know your competitors well is very important in fighting for the sales in a niche market, you have to know what your competitors doing, how long they have been in the market, the price they charge, their key person in business operation, the customer service level and whatever thing that they are doing in they sales strategy. By knowing your competitors well, you are basically able to plan the sales for now, tomorrow and the far futures.

Most of the web banner is tracked by a programmed tracking code, where the behavior of the banner will be recorded and monitored by the advertiser. The advertiser only pay for the number of visitors sent through the publisher website. This type of advertising method is also called Pay Per Click (PPC) advertising.

A good marketing plan should include the analysis of the potential targeted market include the customer’s behavior, the competitors and the strength and weakness of the business compare to the competitors. A marketing plan is not as simple as just a list of advertising or promotional activities. The conclusion to a marketing plan is to predict competitive reaction and a brief consideration of possible longer product term options.

Creating a serious and well planned marketing study take into consideration of each individual product or service group will definately create analysis overlaps between other product or company-wide strategies. It is strongly advised that each product line or service are look into detail separately. Doing a research for each product may reveal the individual product characteristic that may not be considered by other businesses.

With this marketing tool, the advertiser (business owner) is actually publish their product or service in the marketing network and allow the publisher to publish their product in their website, or when the web users search the related keywords from google search engine. In return, the publisher will earn a share from the referrals.

Not a new variant but a not very well-known version of affiliate marketing is the promotion of affiliate product links/websites via Google AdWords. With Google AdWords, a very targeted marketing is possible and well and attractive written advertisements equipped with the right keywords can bring in big money. All the affiliate has to do is to figure out which keywords that are related to their product or service are affordable to promote. And that’s where secret to success is, everyone can buy the expensive and obvious keywords to promote products but when it comes to affiliate success via PPC advertising the inexperienced marketers are being weeded out or are left with big holes in their pockets. Finding the right combination of keywords, target group, advertisement copy is the critical piece of the puzzle.

To summarize – affiliate marketing via PPC on Google can be very lucrative and quite a few people are making a living of it. It sounds easy to do but to break into this field a new affiliate needs a lot of luck, big bucks or patience and knowledge.

Let’s look at sport memorabilia as example, sporting memorabilia is usually a very common yet successful auction item. There are several different options for sourcing sporting memorabilia, you can write to various sporting clubs, sports event organizer or  sport associations asking for some memorable items like signed jersey, soccer boots, autograph and so on. Be prepare that the club may charging you a small service fee for those items but don’t worry, you could probably sell those items at two or three times of the cost of those items.

No matter whatever items are sourced, ensure they are well presented and pay for professional framing. The end results will look spectacular. Promote these items well before the event to draw a large crowd – a particularly coveted sporting item will bring in many extra people. Sport personalities may also be approached to attend the event. Check with sponsors, they may have connections with sports stars. Promote the celebrity sports auction as the highlight of the event.

By working full time and earning full time salary, you can also use part of your salary for some of the expenses in the business. Running a business would have the risk in low and peak season of sells, and holding onto a salaried job can really help you make it through the slow season typical of a new business.

The affiliate partner post the merchant’s link to their website or blog and are paid according to an agreement which can be based on the number of people the affiliate sends to the merchant’s site (or can be said as pay per click), or the number of sales generated. Commissions earned can be very generous with little work required from the website owner.

Consider investigating affiliate programs such as DVD rental, hotel room rental, sporting apparel, toys, grocery or daily consumable where you as a webmaster can earn income from the support of your website visitor. This is a simple money making method as well as home based business for anyone  that has a website or blog presence. The only time and effort involved is in creating the original link and asking your members to support the sites you are affiliated with and you may also interested on how to drive traffic to your website.

Estimated cost of start up: USD 1000
Basic start up kit: PC/laptop, internet connection, website(hosting + domain).

1. Setup joint promotions
Identify the characteristics and activities of your most profitable customers. Look for other non-competing businesses already reaching them. Then devise a way to set up some joint promotions. This proven strategy produces dramatic results — for very little expense.

For example, I once saw a clever joint promotion by a health club and a gourmet restaurant. Both catered to young professionals and business executives in the same town.

The restaurant’s menu included several special dishes recommended by the health club’s nutritionist. It also distributed discount membership coupons for the club. Even their advertising mentioned the affiliation — to attract health conscious customers who often avoid food prepared in gourmet restaurants.

The health club’s monthly newsletters included a reprint of the restaurant’s healthy new menu items recommended by the club’s nutritionist. They also distributed the restaurant’s discount coupons to their members.

2. Uncover new niche markets
Continually look for new niche markets you can serve, then develop customized versions of your advertising appealing to the special concerns of prospects in each niche. Offer specific solutions to their unique needs and you’ll uncover new groups of customers eager to buy from you.

For example, I recently bought a new computer system for my business from a company because they catered to my specific needs. An ad in a business publication listed their special web site for small businesses customers. There I was able to order the exact configuration of hardware and software I wanted at the price I was ready to pay. They won the sale by catering to my niche.

TIP: One way to find a new niche market is to evaluate your existing customers.

Look for groups of customers with similar characteristics you don’t currently cater to in your advertising. Then create new versions of your advertising appealing to their specific needs. You’ll attract a lot more customers just like them.

3. Exploit emerging trends
Pay attention to changes you notice in your business and your markets. Try to spot trends you can turn into new sales opportunities — before your competitors. The first company to identify an emerging trend and take action often becomes the market leader in their industry.

For example, many small businesses took advantage of the Internet early in its development. They used it to attract new customers they weren’t reaching off-line and to capture customers from competitors who didn’t yet recognize the business potential of a web site.

TIP: Don’t make sudden major changes in your business to exploit a new emerging trend. Instead, add something to your business to accommodate it. You don’t want to alienate customers who aren’t ready to adapt to the new trend.

Start using these 3 marketing strategies to create permanent growth for your business. Use them repeatedly to continue adding new layers of permanent income without inviting competition.

Face to face selling may require a sales person with powerful sales presentation skill, despite having a fancy presentation slide or computer animation for the presentation, the verbal communication and interaction with the prospect is much more effective in closing a sale. In most case, the home based business or small business owner is able to successfully get the sale close if they have a chance to meet with the customer, with this, the product knowledge must be in depth in order to answer any question that might be shot by the customer during the presentation.

Many home based business and small business is starting out small and the business owner would probably the sales person with the target of generating as much sales as possible to get the business rolling. Your effectiveness as a sales person will be a critical factor in the success of the business.

i) Competitive factor
We do not have control over what our business competitors setting the price for their product or service, they may sell cheaper than you with the same quantity, more expensive than you or even same price as you can provide.

In most of the industries, the price range are usually falls in a certain range among the market players, it is hard for the companies to undercut each other significantly. As a home based business owner, you could probably charge lower than your competitors just because you have a lower overhead cost.

ii) Demand factor
If the product or service that you provide is with high demand, you probably could save much of your marketing and advertising bucks, you can charge your customer at premium price and you can probably do not need to give a discount. On the other hand, if you are selling a low demand product or service, you might have to lower the price to capture more market share. However, no matter how low is the price you can set, there is a bottom line where you meet the breakeven, so know your price before you start selling.

iii) Economic factor
If the economy is strong, then the consumer has more cash on hand to spend which could keep the product’s price stable. If the economy is down, the product’s price is usually lower where the business owner have to capture as much sell as possible from the customer with limited cash on hand. If it is foreseen that the economy is going downturn, do not ever try to launch a luxury product or service, because the consumer will rather keep the cash on hand or to spend it on the basic needs than to purchase a high end luxury product.

You can’t put up a beautiful (or any) web site and hope that people will just arrive. You have to let them know in every possible way, that your business web site is there. This has to be part of any internet marketing strategy you develop. This is actually a basic marketing principle. Customers are not going to look for you, you have to look for them.

Promoting your web site online and building traffic is the subject of thousands of web sites, e-zines, books, courses and seminars. Using the web to promote your site, however, assumes that your customers are surfers. But there is a large percentage of our population that is not as savvy with the internet as we would like them to be.

So, what about the large percentages of the population who are not? They will only find out about you through traditional marketing and public relations media. This is particularly true if you serve a fairly local market. Fortunately these are the easiest and cheapest prospects for you to reach off-line.

Here are some of the ways to make your web site known:

i) TV, print and other advertising

ii) Stationary and business cards

iii) Catalogs, fliers, billboards, blimps, etc.

iv) Direct mail (prominently on every document)

v) Telemarketing (make it part of the script)

vi) News releases to targeted media.

Unless you have a high budget, the TV, radio, classified ad route is not recommended but if you do run ads, be sure to mention your web site everywhere. Make it part of your Internet Marketing Strategy.

Another guiding principle is that your off-line internet marketing activities should make it easy for your prospect to go straight to your web site. One of the best ways to market your website off-line is direct mail postcards.

If your prospect sees your website on a billboard as she’s driving home, she probably won’t look you up when she gets to the office the next day. This is not the only medium that has problems like this. Newspapers are bulky, radio has to spell it out and like before most people are driving at the time. On the other hand, if your prospect is sitting at her computer and a post card comes in the mail announcing your web site, she can just turn around and type in your URL and she’s at your web site.

Now if someone is in the office reading a trade journal and comes across an article about you in the magazine, it’s not difficult for him to copy your URL into his browser and pay your site a visit.

I don’t mean to say that those other avenues won’t drive traffic to your site, but it will take numerous impressions and repetition to get them to remember your address.

On the other hand, direct mail postcards are generally received at the home or office where a computer is present, and if received somewhere else they are small enough to keep with you until you can get to a computer. This way, your prospective customer will be able to take the take right over to their desk top computer, type in your address and go right to your site. Brilliant!

I have seen the greatest success in off-line web site promotion with direct mail, and specifically direct mail postcards.

Personal pressure
When you first step your foot into your own business world, there is no escape. As a business owner, you have no choice to take accountability to all business risk that it may happen. As a home based business owner, there will be nobody working for you, you are the director, you are the accountant, you are the marketer and you are the customer service for your business as well. You will be facing tons of pressure coming from different aspects and thus you have to learn to cope with your pressure well, to avoid you yourself as the business owner falls in sick, and your business will also falls into a stoppage point.

Sacrifice your own time
Especially during your business start up stage, you will have to sacrifice a lot of your personal time to get your own home based business running. If you are running a moon light home based business, you may have to sacrifice your weekend or holidays, even for some active business owners, they will work for their own business even after their full time job. Working 30 hours extra a day to get your things done is a must if you are serious on your own business.

To grow your home based business you need to attract the attention of your prospects, advertising can help you to do so if used correctly. Unfortunately, many small businesses owners waste thousands of dollars on advertising efforts that only achieve minimal results.

If you want to get the most from the money you spend to promote your products and services, make sure to avoid these common mistakes.

Focusing on Your Products and services
If you want to get the attention of your business prospects, speak to their needs and wants. Your prospects’ primary concern isn’t that you’ve been in business for 25 years; it is do you know the problem they want to solve. Use your ad to identify at least one common problem of your prospects and the benefit of using your product or service.

Having a Weak Marketing Message
All to often you hear ads and it takes some thought to figure out what they are even promoting. Make sure your advertisement includes a 7-10 word description of whom you serve and the problems you solve so people who read or hear your ad know how you can help them.

Using the Wrong Words
A word here, a phrase there can change your response rate by hundreds of percent. When you spend money on advertising, first test a number of versions of your copy to identify the one that works best. Just by revising the ad copy so it was client and problem centered, I helped one small business owner achieve her best month in sales ever.

Missing Motivation
Most ads miss the mark in moving prospects to action. If you want to prompt prospects to visit your web site or your store or to contact you, include an offer that motivates them to do so.

Lacking in Frequency
Some people make spur of the moment buying decisions, but most need to become familiar with your services and products, and this takes time. If you want your advertising to work, you need to ensure that your prospects see or hear it regularly.

Web Sites that Don’t Move Prospects to Action
Many small business owners direct prospects to a web site where they have more extensive content covering available services and products. I constantly get calls from people who have been successful at attracting prospects to their web site, but generate few sales. Once prospects get to your web site make sure the content and visual organization moves them to take the action you want them to. Whether it is providing them with ample opportunities to fill in your service inquiry form, or including a subset of your product catalog in your web page navigation bars, help prospects move to client and customer status.

Lack of Follow Up
Sometimes making a sale requires sending a note or picking up the phone and calling your prospects. If you have an effective lead generation strategy, prospects will provide you with their contact information and the problem they want solved. Use the web, email, and the phone to follow up and close the sale.

Lack of Tracking
If you are making more from your advertising than you are spending, you’re ahead. Frequently small business owners can’t tell you which of their efforts helped bring in the business. Track each of your ad campaigns and you’ll know where to spend your money in the future, what to modify and what to eliminate.

Put your marketing house in order. Fix your strategy and your materials. If you don’t know what to change or how to change it, use experts to help you with strategy, copyrighting, design, PR, and media placement.

Avoid these common marketing mistakes and you’ll find ore people contacting you about your products and services and that your making more than your spending on your advertising.

There are basically two types of telemarketing, the inbound telemarketing and outbound telemarketing. With telemarketing, the telemarketer(usually will be the business owner) have to send out a flyer or newsletter to a group of targeted potential customer and invite them to make a phone call to your company to ask any information for the product or service your business provide.

When the customer call, the telemarketer will explain in detail about the product or service provided and at the same time pursue the customer to purchase your product or service. Where outbound telemarketing is the other way round, the telemarketer have to take the initiative to call the targeted potential customer and sell them your service or product.

When you are making outbound call, the first 10 to 15 seconds is the most critical time frame, you must try your best to attract your potential customer’s interest for your service or product in this period. You should also approach your customer politely to build trust and establish good first impression for your customer. During the conversation, you should speak slowly and clearly to tell the customer the objective or intention on your call to them, once you have successfully grab their attention, you could start using your selling script to promote your product or service to them.

Telemarketing can be an expensive solution or can be a cheap solution for your home based business, it is merely depends on how many phone lines you need and how many telemarketers you want to hire. If you are going to act as the telemarketer for your own home based business, i would say one phone line is more than enough.

Start a home based business is not as easy as you think, it required hardwork, hardwork and hardwork. Not every person is suitable to start their own home based business, not because they are stupid, lazy, afraid or they don’t want to success, but this business venture require the person to spend lot of time and hardwork to succeed. A home based business owner may spend at least 50-70 hours per week just to operate their business, with little of rest or holiday, and probably with less income than working full time.

As the statistical data suggest, 80% of a new home based business may fail within the first 3 years of business operation. Before getting involve to start your home based business, you have to make sure that you are willing to sacrifice your time and hardwork and do what you love to do, otherwise you will be in the 80% of failing statistical data!

There are also some peoples who close their business because they found a better opportunity to work with somebody else. I won’t say closing of the business is a failure, at least the person will gain a lot of business operation experiences than anybody else.

A home based business fail can be for many reasons, but few of the most important factors are:
1. No proper research
2. No proper planning
3. No financial support
4. Lack of business operation skill
5. Start with a bad business idea
6. Entering an over saturated market
7. Unrealistic expectation
8. and etc.

If you are to start your own home based business, you are possible to achieve your own set of target and goal, but you have to be very consistent and be focus on what you are doing.

E-zine is usually distributed at no charge to the readers/subscribers but you could be supported by the advertisers in your e-zine who are targeting the interest of your subscriber in the relevant topic. For example, if your e-zine is talking about PC game featuring tactic of the game or weekly update of the game, the advertisers would probably from any games retailer, PC shop and cyber cafe.

The secret of success in this home based business is to create unique and informative articles where your subscribers or readers couldnt find it elsewhere. Try to avoid publish too many advertisements so that the readers will not find your e-zine annoying by just reading tons of advertisement but informative articles. Although advertisement maybe your main source of income from this home based business, however try to squeeze both contents and advertisement in a well presented format.

Estimated cost of start up: USD 1500
Basic start up kit: PC/laptop, internet connection, website(hosting + domain) and e-zine template.

The key elements of cash management are:
- Open a business bank account
- Develop an accounting system
- Establish payment term for your service or product provided
- Make sure getting paid on time
- Debt collection when necessary

Information about taxation, merchant account registration, receiving e-payment should also need to be considered in managing cash in this topic.

Perhaps this is the reason why more and more people are succumbing to one of the most popular businesses around – affiliate marketing. It is because in this business, there are no bosses to order the employees around. There are no deadlines to meet and no clutter of work do to. One only needs to be equipped with the tools needed to succeed in a business such as this, and he is bound to get what his heart ultimately desires.

Just what are the things needed to be able to succeed in affiliate marketing? What must one have within himself to be able to do well in this industry? There is a lot of competition involved in affiliate marketing, and to be able to rise above the norm, one must be equipped with just the right stuff necessary to propel him forward. There are five things one must ultimately possess if he wants to achieve the glory he is yearning for in this business, and these five things are a must for him to possess to be able to stand out among the rest.

The very first quality one must possess if he wants to try his hand in affiliate marketing is the willingness to learn and be trained. Treading through unfamiliar territory is scary stuff if one is not properly equipped, and he might get lost amidst a jungle of the unknown. Learning the tricks of the trade is also an important aspect of the game, and one’s willingness to know it all will give him far better advantages in the business than he could ever imagine.

The second quality one must possess is the willingness to invest time and effort even if direct results do not seem at all apparent. Although several months may pass without good news, it is important for one who has his foot in the industry to hold on and wait. It is this quality which would save him from giving up after investing a lot of himself in the business.

The third quality one must possess is self-determination. If one wants to conquer the affiliate marketing world, he must have the ability to push himself ahead. Never having to say die is a quality each and every affiliate marketer should possess, and the ability to motivate oneself into scaling greater heights is an ability which would actually take an affiliate marketer there.

The fourth quality one must possess is discipline. If one knows how to teach himself to work everyday with all the energy he can muster, then he is close to achieving what he has set his heart to having in the first place.

The fifth and last quality one must possess is optimism. Negative attitudes and hearsays should not discourage an affiliate marketer from pursuing what he has to in order to make life better for himself and for everyone concerned. Neither should anyone influence his attitude toward the business, because once in it, it is a must for him to be the captain of his ship and the master of his soul.

The ingredients to success in a business such as affiliate marketing are diverse and manifold, but the most important thing one needs to be able to make it big lies in himself alone. It is he who has the capacity to do everything to be able to realize his prospects, and the desire which fuels his heart in doing so is the gasoline which should keep the engine going.

1. Strategic thinking – Think out of a box and always carry out research on the targeted niche.

2. Global market perspective – Know the market.

3. Treat give opportunities – Opportunities always come with risk.

4. Industry awareness – Know your competitors.

5. Entrepreneurship skills – Equip yourself with great skills in starting a business.

6. Management skill – Time management, people management, financial management……learn to manage well.

7. Entrepreneurship savvy – You know yourself better than me.

8. Process expert – If you are starting your business from scratch or even buy a developed business, you should know every single process on the business flow.

9. Decision making – Small decision lead to a big change!

10. Leadership skill – You are not running the business alone, you should know how to lead your staff effectively.

11. Self awareness – Be alert at all time.

12. Personal effectiveness – Be responsive to any decision made, learn to be more efficient.

13. Resourceful – Keep learning and improve yourself along the way.

14. Influencing skill – Be confident and influence people with your great idea.

15. Communication – Always communicate with peoples, either your staff, customer or supplier. Good communication lead to a better efficient in business flow.

16. Creativity – Think out of a box, try to be more creative either in giving solution to your customer or developing your business process flow.

17. Courage -Again, be confidence and believe the decision you made to lead you to success.

18. Persistence – Always focus on the objective, and continuously work towards the target, you will find success in one day.

i) Location and space
Other than the zoning regulation, you have to consider the location of your house and the space available for your house. If you are intend to start a car repair business, you would need to convert your home garage into a workshop, it will be a concern if your house is with limited space when you have two or three cars waiting for you to repair. The location also play an important role, if you are staying in a small village where there is no proper address indication, and it will also become a consideration point for the customer to send their car to the town even the price is slightly higher.

ii) Neighborhood
Lets take the car repair service as an example again, i am sure there will be knocking and hammering on the car which would generate noisy sound, would this sound bothering your neighbor? Consider this seriously, if they make a complaint to the local authority, your home based business venture might be in problem.

iii) Security and safety
Is dangerous chemical required to be used with the work? Is the tools or equipments are sefely used according to the manual? Is the waste produced affecting the environment? If customer data is to be collected, how to ensure the data is securely kept? All these issued has to be considered.

All these issue must be seriously considered before you start your home based business, you may not want to invest a huge amount of money before you get all these issues cleared and put your business venture in a full stop at the end of the day.

Estimated cost of start up: USD 2000
Basic start up kit: PC/laptop, internet connection, website(hosting + domain), fax machine, phone and start up survey form template.

a) Submit your website to the major search engines, like google, yahoo, bing and so on.

b) Use linking service to get your link published in other websites, in return you publish their link in your website, in other word, link exchange.

c) Use keyword marketing to target your potential niche market, you could probably try google adwords.

d) Publish a weekly or monthly e-magazine or e-newsletter to promote your website.

e) Write article about your home business, and submit it to article directory. Make sure you add your website link on the resource box (bottom of article).

f) Create signature and include it in your email or when you are posting in forums. Be sure to add your website’s link in the signature.

g) Start an affiliate program to encourage other web marketers to promote your website.

h) Include a “bookmark us” link in your website allow your web users to bookmark your site at their convenience.

i) Leave a resourceful comment in similar niche business website.

No traffic to your website means no sales for your business, if you are not able to implement all of the tips above to get your website visible, at least try few of them. You will see the change of your sales.If you like this “How to drive traffic to your business website” post, please digg it or share with your friends.

Estimated cost of start up: USD 10,000
Basic start up kit: PC/laptop, internet connection, website(hosting + domain), display booth, importation and exportation knowledge.

For most business, the top level .com domain is always preferred follow by .net domain and .biz domain. Other extension such as .org for instance is far less to be considered by the home based business owner.

The domain name that you pick must be short and descriptive, preferably less than 15 characters if possible, and the domain must be describing the type of business that you are operate. Good domain name is usually hard to acquire, so, once you have pick one, make sure you register the domain name in your business registration, so that you can make sure you have the full control of the domain than anybody else.

The cost for domain registration affordable, normally vary between $10 to $30 per year, and the domain can also be obtained widely from the web, such as godaddy.com, they provide good service. Do some research before register the domain name as some of the domain registration company would also provide their customer with free e-commerce, web design and web development services. Register the best domain name for your home based business today!

Lets take the google’s adword program for example, from advertiser stand point of view, you have to know which sector and what type of customer you are targeting, you will then need to choose a keyword for your ads to be appeared from the search result. The keyword must be related to what your are selling or providing in order to effectively attract the potential customer. To be concise, if you are choosing “home based business guide” as your keyword, when someone search a similar term from the google search engine, your ads would probably appear on the advertising corner which would usually labeled as “sponsored links” or “advertisement” in the search page. You only pay when someone click on your ads. The cost for per click can be in the range from $0.10 to $10, remember, there are hundred or thousand of advertiser like you who are bidding for the same keyword to be appear in the search page, the higher the bid you place, the higher the chance your ads appear in those advertising corner.

Pay per click program can be an effective way to reach the customer but it can be an expensive and ineffective way of advertising if the advertiser got the path wrong, for instance, choosing the wrong keyword. Pay per click advertising is always recommended for home based business and small business as the advertiser only pay when somebody click on your ads, and from a survey, 10% of conversion can be generated from this type of ad campaign, in other words, you are able to generate 1 sale from 10 clicks.

Anyone is able to start this type of home based business, but ideally, a person with real estate background is preferable. Depending on the type of the property, the management fee can be falls in the range between 1%-10% of the property cost.

Estimated cost of start up: USD 1000
Basic start up kit: PC/laptop, internet connection, multi task management skill, basic computer skill and etc.

Every home based business would have a different needs of working space, but to set up a suitable working space for your home business, the key points that the business owner should take into consideration includes:

- Choose a suitable work space from your home based on your business needs.
- Equip your work space with suitable equipments, tools, machinery, furniture and etc.
- Develop your work space securely.
- Develop your home business office with an image suit to your business nature.

Developing your work space with proper planning is essential, not only to strengthen your company image, but an environment suitable for your business balance with the needs of your family is also important.

i) Choose a spare room and convert it to home office so that you can properly segregate between your family and business while you are working.

ii) Choose a place where you can totally out of the disturb of noise from your living hall and kitchen.

iii) Choose a place where it is large enough to operate your home business.

iv) If you are choosing a room as your office, try to have a separate door where they can enter directly rather than allow your clients to pass through living hall, kitchen, and bathroom before reaching your office.

v) Choose a place where the noise generated from your business (i.e. car repair) could be completely isolated before reaching your neighbor’s ears.

Try to incorporate these tips into your own home based business and try to utilize it if possible.

Once you have the logo and slogan designed, as a business owner, you should consistently relate it with whatever products or services from your home based business. The more often the logo or slogan expose to the consumer attention, the more higher the chance they will remember your business, and remember, branding of business requires time, it will not happen over night.

Business logo and slogan play a vital role in establishing your home based business in today’s world, especially for those in simple and able to attract people’s attention from the first impression. A very good example is when you hear “nothing is impossible” and you will think of ADIDAS, when you see “swoosh” you will think of NIKE. These simple tools are acting as a bridge in connecting the trust between the consumer and the business. When you are in the stage of developing the business slogan, think of the biggest advantage that people receive when they deal a business with you, and keep the slogan simple and easy to remember and also make sure it have not being used by other business.

Many of the home based business owner might stretch their head when they are trying to design the logo and slogan, fortunately they are ton of design agencies that will be more than happy to do it for you. Depending on the complexity of the design, a logo design service would cost you from $50 – $1000. Again, you have to make sure the logo have not being used by other company and you can also trademark your logo and copyright your slogan so that nobody can own what you have created. Some of the famous design agencies from the web are listed as follow:

i) logoyes.com
ii) logodesignguru.com
iii) e-logodesign.com

Furniture

Furniture represent your business outlook, you are actually projecting an image with the type of furniture that you choose to outfit. Furniture not necessary to be a new one, if you are purchasing an used furniture, make sure it is in good condition. Don’t down grade your home based business image just because of saving bucks in furnishing. Try to look for the furniture with plain color, simple and look organized to your office. The most important is make sure it is comfortable and ergonomically to be used.

Phone

Depends on the nature of your home based business, most of the business, e-commerce for instance, would often use email as an communication tool instead of phone. Think carefully whether phone is necessary for your home based business and try to sign up with suitable call package from the service provider, to be cost effective.

Computer

Computer is a must for any business running down the road in today’s world. It can be used for basic accounting management, email communication, prepare to do list and meeting minute, research from internet and if you are running an online business, you would need to use it for updating the website with your company latest product.

Fax machine

It is nearly impossible for business not using fax machine, some of the home based business use a stand alone machine while some others fax via computer controlled by software. With whatever home based business you are running, equip a fax machine, you will find it easy and convenient to send and receive information, because some of your business partner or customer would prefer faxing instead of emailing.

These are just a few basis office equipment that you should equip it in your office, you may find any other suitable equipments to work with depends on the type of home based business you are running. Manufacturing equipment should out of this topic.

You are the BOSS

By starting your own home based business, you have the change to become your own boss, you do not have to report to anybody else in your own company, you have the freedom to make decision and you accountable for whatever decision you made, either gain or loss.
By the means of having full freedom, you wear what you want, you start work whenever you want and you work wherever you want. As long as the deal between you and the customer is done and the customer satisfy with the service/product that you provided, you can even work in your house’s bathroom if you wish. Personally, i think the best is you do not need to involve in the office politic.

You have the right to earn more

Start your own home based business may not bring you a good wealth, but in some situation, you have the potential to earn more than what you earn from your full time job. If you work for somebody else, you probably generate more sales for the company by working longer hours, and in return you earn more commissions or OT pay. If you work for your own business, you can probably double up the sales revenue by hiring more people to work with you, if your employee is able to generate as much sales as you can generate during your work with other company, you are doubling up your income. As your home based business is established over time, you can slowly expand the business by generating more services/products and it can greatly increase your personal income and equity.

You work within your own pace

One of the most influence factor to start a home based business is have the ability to work at home. By working at home, you probably have the chance to pick up your kids from school, meet your friends and even wash your own car if you wish. By setting up your schedule effectively, you will have the chance to enjoy more time on your personal interest without losing the business. By starting your own business, you have the change to set up your own home office where you have no right to do so if you work for others. Develop your home office wisely and equip with only necessary equipments.

Tax benefit

This is one of the best advantage in term of financial benefit, by running your own home based business, portion of your utilities bills are tax deductible against your business revenue, the same applied for transportation and education for business purposes. However, you will still have to pay for self employment tax. For more information, please refer to your local taxation department.

Yellow pages ads are usually sold in annual basis where this is different from other print advertising medium whose usually provide in campaign basis. There are several formats to choose from, it can be in text form where only address and telephone contact to be listed, or it can be in banner form where the home based business owner is able to choose from various of ad sizes depends on your advertising budget. On top of listing the address and telephone contact, banner advertisement also allow the business owner to list the range of products or services, email address and the logo of the business.

If you are to ask to compare the cost between yellow pages advertising and other advertising mediums, i would tell you, there is nothing can be compared. How much to pay for the ads is depends on how much space you intend to occupy. The bigger the ads space, the higher the cost, the bigger exposure for your home based business.

Sell or promote means you have to either sell your own product or you promote other website’s product (affiliate). By joining an affiliate program, you earn a portion of revenue from the product sold or referred by your website, you save time and money by generating or storing your product in the inventory, all you need to do is just to use your promoting skill to sell as much as you can.

Earning from selling advertisement space from your website is another type of online business venture, you can start a blog, an info based portal like BusinessGoOnline.com, forum, directory, photo album and etc. One of the most famous type of websites in the world wide web today is info based website and blog, you create unique and valuable contents and attract as much traffic as possible to your website, the more visitors to your site and the more regular they return to your site, your site ranking will be increase. And advertiser usually target to advertise in a high ranking website where they are able to gain visibility and exposure through the website. Other than selling ads space, you can also consider to participate in google adsense program, this program allow you to insert the advertisement from their advertiser, when somebody click on the ads, you will earn a portion of revenue from the advertiser pay to google, and this is the most used revenue generator from most of the websites today.

Starting a website is not as difficult as you think, but is also not as easy as you think. What you have to do in the first step is to purchase a domain and register a hosting, download a web script(depending on what type of website you want to start) and get ready to earn from the web! However, if you need help in developing your first website, please contact me, i will help you.

Estimated cost of start up: USD 300
Basic start up kit: PC/laptop, internet connection, basic web programming knowledge (but not essential), and basic typing skill.

Pros:
i) You could save a lot of time in setting up the business.

ii) Business flows are being set up.

iii) You are not building the brand from scratch.

iv) Save time in searching for supplier or vendor.

v) Save time in finding customer to keep the business rolling, but, to expand and in order for the business to move forward, you have to find new customer.

Cons:
i) You have to spend more money than develop the home based business yourself. You probably have to pay for the trademark and copyright cost, development cost, management system cost and so on.

ii) You need more time in maintaining the home based business because you are not the founder and you are not starting the business from scratch, it take time to know everything about the business.

iii) Difficulties in serving existing customer where their behavior and requirement is not known. In many home based business, the customer flow away because or poor customer service.

Try to research the industry in depth, and provide a report with fact and statistical data on how the industry behave currently as well as in the future. In the last paragraph of this session, explain how your home based business will fit into this industry. What makes you invent into this industry.

The idea of industry analysis in business plan is to provide a clear analytic data on how the industry behave and why you are choosing to enter into this industry.

Executive summary in the business plan usually spell out the 4W1S, Who, Why, When, Where and How of your home based business. Begin this section with your business goals or personal goals and the forecast of the business. In some business plan, the writer may want to point out the foreseen potential problem that the business might face, and the solution for the problem.

In the following point, you may want to talk about the business marketing plan and financial plan, be transparent to the readers that who is investing on the business, how much money is needed to fund the business, the readers will be more than happy to know about this. In some case, the business owner may not want to include the financial requirement up front, because this may seem too pushy and the risk of being rejected will be fairly increase.

In the last point of the executive summary, include some basic write up like what is your target market, where your business will be located, how you are going to run the business from home(obviously, this is a home based business!), whether the business will be run by yourself only or you are going to hire employee.

All these point must be only fit into one page in the business plan!

The outline of a business plan can be broken into few categories:
- Introduction of the nature of business
- Executive summary of the business
- Industry analysis
- Business overview
- What is the product or service provided
- Competition analysis on major competitors
- Marketing plan
- Operation management
- Financial analysis

A standard business plan is usually written in a standard A4 size plain paper with 12 point of single space Arial or similar font. Write your business plan in a formal standard with proper outlook, this would definitely increase and give a positive impression to the reader on your home based business.

i) Direct mail – Considered as the highest impact compared to any other advertising medium. The message reached every single targeted recipients in a personalized way and this method is also the most expensive advertising medium per person reached.

ii) Television – Based on study,television viewers are more apt to fully tune themselves into an advertisement, but it does offer the advertiser an opportunity to speak to a captive audience.

iii) Radio – This advertising medium offers a dramatic improvement over the print advertising method. The listed is more captive to the message unless they switch off the radio or tune into other station. Compared to television advertisement, this is a lower cost solution.

iv) Outdoor and transit – The very good example of this advertising medium is the billboard that you can see from the high way. I would say this advertising medium is the least effective way due to its high visibility factor where no one would actually spend time to read or view the advertisement.

v) Newspaper – Can be said is the cheapest solution in advertising for home based business or small business. However, targeted ads placement is important due to its high quantity of advertisements and in many case, it is easy for all but the largest ads to get lost in the visual clutter.

vi) Magazines – It offers a slightly better opportunity to catch the reader’s eyes. Readers tend to peruse magazines more carefully than they do in reading a newspaper due to the less advertisement published in a single page.

vii) Internet advertising – Advertising online is one of the most famous advertising medium in today’s business world. Although having a website for your home based business or small business is crucial, but you can still consider to advertise on others website.

i) Start up capital

Capital that the business owner need to jump start the home based business, where this capital can be used to purchase manufacturing equipments, office furniture, office stationary, business license, inventory, and etc.

ii) Working capital

Capital for the business owner to pay the monthly utilities bill, monthly operating expenses, staff’s salary and so on. This capital have to be continuously funded until your home based business meet the financial breakeven point. Most of the businesses fail because of the insufficient funds from working capital and they lost their start up capital to achieve the positive cash flow.

iii) Growth capital

As the name suggest, this is the capital that the business owner need to expand their home based business. I would say this capital is the least important among the three required capitals unless the business reach the financial breakeven point.

All three capitals are important except for the first two are vital if you are not able to meet the breakeven point. The business owner have to find a way to continuously funding for the working capital on their home based business and keep the business rolling, otherwise your business will be easily falls into failure at the end of the day.

i) Penetration pricing

The product or service is set at the lowest price in the market place, with this strategy the product or service have to be sold at high volume to meet the profit margin. This type of strategy is widely used by the franchiser, series chain retailer or the market leader and it is quite difficult for the small business to survive if to implement penetration pricing strategy, if they do so, they are actually competing with the giant players in the market.

ii) Fair pricing

The price is set in accordance to the quality or quantity of product or service to be sold. This strategy is widely used by the small business and home based business owner where a fair price is offered to the consumer and they can concentrate to develop the product or service to be sold in the highest quality.

iii) Premium pricing

The price is set at a higher level and this price strategy is more to be used on customized service, personalized product, and high technology product. The consumer is to pay a premium price for the design instead of the service or product itself.

iv) Discount pricing

Discount pricing strategy can be used to achieve the marketing or advertising objective such as during a seasonal festival. The price can be set at zero profit just to clear out the old stock where it maybe near the storage life time. There are several of discount pricing strategy that can be used such as quanity discount, seasonal discount, 2nd purchase rebate, trade in discount and so on.

These pricing strategies serve as a guideline while setting the price for your products or sevices, you can use these strategies for your home based business or customize one for the business, as long as it is suitable for the business.

There are several type of online advertisements that you can participate for your home based business, banner advertisement and text link advertisement can be one of the favorite choices. The cost of each advertisement varies by the popularity of the website, the space that you would like to occupy in that page and the targeted location for your advertisement.

Normally, the owner(webmaster) of the website will determine the rate of every space and position of the advertisement, the bigger the banner and the obvious the advertisement shown in the website will cost you more. Depending on how the webmaster would like to run the advertisement campaign, usually a report shows the behavior of the ads will be generated and sent to the advertiser.

Before buying an ad space from any site for your home based business, make sure you are not buying a pop-up ads, this website would usually not ranking well in the search engine while some of them might be blacklisted by the search engine, and furthermore, most of the famous web browsers block pop-ups. Evaluate the website carefully and decide the best location to place your home based business ads.

Other than buying ads from website, you can also consider to participate in the search engine online advertising program like Pay Per Click Management, the famous one will be google adwords.

Lets take the business consultation service for example, if you need $5000 per year to run this home based business and this cost including the advertising, marketing and other expenses, then the business owner would need to determine an hourly rate. If the business owner choose to work 30 hours a week which is about 1560 hours a year then the business owner need to charge an hourly rate of $3.3 to breakeven. If the business owner charge an hourly rate of $6, then they will make a profit of $4360 per year.

How much to charge is usually determined by couple of factors, the home based business owner have to calculate the rate base on their own schedule and how many clients they are targeting to handle in a year.

1. Focus on Your best prospects

Imagine how profitable your home based business would be if more of your new customers were like the best customers you have now. Here’s how you can make that happen.

Take some time to analyze your current customers to determine what key traits they share – and why those traits make them ideal customers for you. Then revise your sales message to appeal specifically to them.

This will increase both the number of new sales you get and the profitability of each new customer.

2. Pile on the benefits

Customers usually buy something to save time or to save money. Offer them an opportunity to do both and you will boost your sales. But offer them multiple opportunities to do both and you will cause your sales to soar dramatically.

For example, structure your sales message to stress both the time saving and money saving benefits of your product or service. Then include a discount price offer if they buy before a certain deadline (more money saved). Finally, figure out how you can deliver all or some of what they are buying immediately (more time saved).

Tip: If you cannot deliver all or part of your product immediately, add something to the purchase that you can deliver immediately. It can be as simple as a series of helpful tips related to your product posted on your web site.

3. Make buying easy

Make it easy for potential customers to buy from you. Look for ways you can make your buying process easier and faster.

For example, design your selling procedure so prospects do not have to make unnecessary decisions. Every decision they have to make interrupts the buying process and diverts their attention away from completing the sale.

Tip: Don’t ask for unnecessary information during the buying process. Instead, follow up after the sale with a personalized “thank you” message – and include a brief request for the information.

4. Frequent Follow up

Selling is not a one step process. Most people do not buy something the first time the see or hear about it. You can salvage many of these potential customers with an effective follow up system.

Your follow up can be as simple as contacting these prospects periodically with a new offer. Or, better yet, follow up periodically with some useful information …and don’t charge them for it. You’ll build a supportive relationship that gains their trust – and eventually the sale.

Tip: Make sure you have a way to get the email addresses of visitors to your web site. You need it to follow up with them. For example, offer them a complimentary special report or other useful information …delivered only by email.

Each of these 4 dynamic marketing tactics provides a simple way for you to boost your sales and profits quickly for your home based business or small business. They are simple to use, highly effective and require very little expense.

i) A successful home based business entrepreneur is willing to work long hour with smart thinking.

ii) A successful home based business entrepreneur must be think optimistically, self confident, and have a strong wish to take control of their future.

iii) A successful home based business entrepreneur work according to plan, they believe no planning is planning to fail.

iv) A successful home based business entrepreneur love challenges, they believe experience are gain from challenge and mistake.

v) A successful home based business entrepreneur is able to think positively and willing to accountable to the decision they have made.

vi) A successful home based business entrepreneur like to listen to comments and advices.

vii) A successful home based business entrepreneur is able to optimize their time efficiently, they are well organized.

viii) A successful home based business entrepreneur are proactive when facing difficulties and take accountability to solve problem.