What Economic Downturn? Part I

I've heard several prominent individuals say that they refuse to participate in the recession. How is that possible? Well, whether the economy is good or bad, boom or bust there are always winners and losers. There is almost never a scenario where there are no winners.

Home business owners are usually winners if they fill the needs of any market. What do I mean? Well, products or services that help people to preserve their health, save money and earn more income will always sell in economic downturns. These products and services all have one common denominator. They bring value to the customer in a time when needed the most! You must use blue prints gleaned from this site and its products and services to implement your home business.
A home business gives you the best chance to minimize expenses while maximizing profits. Your home office is not only a tax break but it a means of minimizing expenses such as time involved in commuting to a job, gasoline, lease, office equipment and supplies.
 
Below are some tips you need to win at building a successful home business in order to avoid participating in the economic downturn.

• Treat it like a business not a personal venture. Have the perception that you are working for someone else. In other words you need to set hours for making calls and meeting with or calling potential clients or customer. Have dedicated time for copy writing / marketing.
• Be Professional. Do have a dedicated business line or cell phone. I once called a number that I saw on a handy man business vehicle to obtain a quote for some home repairs. The answering machine gave me a message that went like this: you have reached the home and business line for....and it proceeded to give a list of 3-4 different persons plus the business. It did not give me a choice of numbers to press. It just wanted me to say who I was calling for and leave the message. Kids answer the phone at times. Not very professional. Needless to say I moved on to the next business because this business owner was not professional and did not appear to be serious about business. To look the part of being professional, do have a business card and a website with your own URL / Domain. Try Godaddy.com or 1and1.com. There are several sites you can checkout with free first set of business cards. Just Google Free Business Cards.
• Be kind and warm to people. You must constantly be in a mindset to help others and bring value to their lives.
• Start Getting out of Debt. Avoid car payments like the plague. Trade down in car if you can't pay it off in one year or less. Don't buy anything on credit. Try to pay off all your debts (smallest to largest) until you only have your house payment or rent. Get rid of credit cards and use debit cards. Debt is your enemy and the enemy of your business. Budget every dollar of your income both for your home and business. Cut your lifestyle. A new business will need to be sustained initially before it's profitable. Vacation in driving distance. Eat at home when at all possible. Bring food from home when traveling. When eating out order the free water rather than the expense beverage. Have a salad when possible. The bread is usually free and again, so is the water.
• Know the benefits of your products or services very well. You must also know whether or not a contact can or will benefit from what you have to offer. Don't try to fit round square pegs into round holes.
• Be a man or woman of your word. There is no slick presentation that can substitute for telling the truth. Integrity and honesty is a foundation for any successful business.
• Find a mentor who has a successful home business and who has an excellent reputation for being honest. Speak with that mentor at least once per week. Select a mentor in the area of business you wish to embark.
• Start a home business by going with a reputable MLM that has not saturated the market. Old enough to be solid but new enough for growth. Make sure the MLM is a member of DSA (Direct Selling Association). See DSA.org.
• If you hate reading and are not willing to do so, stop now and forget it because a home business is not for you. If you are going into business for yourself, you will have to be a lifetime student and constantly read. You must keep up with your industry's trend, take seminars, take courses as well as read self-help books. You will over time have to spend a significant amount of money to continue this self-education and to avoid spending countless hours researching what has already been researched. Sometimes spending $40 on a resource may save you dozens of hours online researching. Time is indeed money! You must count the cost for trying to re-invent the wheel.

Part II to come,

Dr. Campbell