Monthly Archives: January 2009

Home Based Businesses = Success!

There are 5 key motivations fueling the growing popularity of professional home based business; time, lifestyle, profit, team and technology

Obviously time is a key factor when working from home. Home-based professionals are not disadvantaged by the down time normally spent travelling to and from work and they enjoy flexible hours. Clients also benefit from the flexible working hours and can schedule appointments to occur before or after work.

The lifestyle of a professional working from home allows for increased interaction with family members, a tailored work environment and the freedom to set the self paced completion of tasks. A win-win relationship also exists between home based business and their client base due to increased profit potential- due to low overheads. What you save on renting an expensive office suite can be passed onto your clients- creating a win-win solution for both parties.

Business owners often can work with their partner to create a great team synergy in the home environment. After years spent working in separate careers many home based professionals can involve their partner in the business. Partners can be involved in a business development and support role and teenage children who have excellent computer skills can earn some extra pocket money.

However, the home office environment is not immune to the challenges faced in the conventional work environment and a day in the life of a home-based professional is anything but average. There is no such thing as a typical day. By necessity, business owners should reserve time in each day for different kinds of chores eg. starting Mondays with a meeting and ending Fridays with writing reports.

There should also be time reserved for training and attendance at workshops. Home-based professionals must be proactive and consistent in furthering their own personal and professional development. Networking opportunities are also important in keeping up with the latest changes in the industry and provide a catalyst for new ideas and strategies.

Just hire an Action COACH and your problems will all be solved!

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Prescription for Success!

It’s 2009 and for some the economy is all gloom and doom- but not with ActionCOACH!

Follow our prescription for success during this Economic crisis and come out ahead of the rest!

1. Look for the opportunities, eg. Buy out a competitor, where do people need your product or svc in the world
2. Set new goals
3. Who is your sphere of influence and how are thinking: negative or positive
4. Make sure you have quite time to think up new ideas
5. Need a plan. The plan helps to take you out of overwhelm. Eg. In the 60’s how get to the moon and back. If you know how to get there it’s a plan not a goal. What do you have to learn to change the goal into a plan
6. Prune don’t prune (cut) for the sake of doing it use a plan to determine where to prune: strategies, cost, advertising, etc
7. What is your current product and service line up. What is doing well, what is not, what do you need to add, what are your high margin items, do you need to bring in more high margin items, Buyers moods are changing so you may have to provide difference prod/svc
8. Examine your market and sales strategies and change it. In good times people bought because they had disposable money and wanted things/toys. Now it is a what do I really need basis. So change your ads/mkt/sales to reflect the current market. Measure and test everything
9. Cashflow – monitor it what credit terms do you offer and what payment terms. Manage them better. What is your time of lag from when money comes in from a sale. It may kill you
Do not put money into a business you don’t know anything about, look at the management team
A good product delivered well will always sell!!

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