Success: 12 Steps To Home Business Success

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I am going to be my own boss. I will be the one to call the shots. I will work at my own pace and time. I will have free time in my hands. I will spend quality time with my loved ones. I will succeed. I will enjoy my life.

So, you have decided to venture into a home business --- where you work for yourself and greatly reap the fruits of your labor. However, there are some bad news and good news that you should be aware of.

BAD NEWS: Studies show that 80-90% of home businesses fail.

GOOD NEWS: Your business can be among the 10-20% that actually succeed!

How? By following the "12 Steps To Home Business Success." And you can do that with PEP!

*P - PREPARING/PLANNING EXTENSIVELY

When you do decide to venture into a home business, the very …show more content…

Read your list regularly. Did you know that by merely doing so, you actually increase your home business success rate by 100%?

*E - ESTABLISHING YOUR BUSINESS.

This stage refers to the actual nitty-gritty of setting up your home business. This time, you are done with conceptualization and you are ready to get into action. You are now implementing the plan that you have prepared. Here are several steps that will help you establish your home business and achieve home business success:

4) Work on the legal requirements of your home business.

For your venture to be a legal business entity, you need to work on certain formalities. These include registering your business name, applying for a business permit/license, setting up a taxation system, and other paperwork. In this step, you also formulate a compensation plan for your employees.

5) Devise a marketing plan.

How do you create exposure for your products and/or services? Formulate a creative, innovative marketing plan. Consider the following factors/concerns:

Your target market. Clearly define your target market. This will help you decide which advertising and promotion strategies would be more appropriate to draw in your prospective …show more content…

This looks too simple, but it is very important in any business endeavor and many people tend to take it for granted. How can you work on your business and attain success if your physical being is poor? Eat a balanced diet. Exercise regularly. Monitor your stress level. Stay physically fit and enjoy your home business feat!

11) Have a balanced life.

Your home business success will not be as meaningful if you do not have success in your personal life. Do not surrender all of yourself to your business. Even Bill Gates takes a week of rest and solitude every month. Have that needed rest. Spend quality time with your loved ones. You will see that as you rejuvenate yourself, you will be more productive and even more prepared to face the various challenges that your home business may pose. Take time to enjoy life, for that, indeed, is the very purpose of your financial success!

12) Have the right

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