When starting a businesses you really need to think about what kind of business you would like to have. Do you want a franchise? Do you want a home-based business?
There are several factors involved in starting a businesses. First of all, how much time do you have to devote to your new business? How much money do you have to devote to your new business?
Let’s start with a franchise opportunity. How about one of the more popular franchises – like McDonald’s. The McDonald’s Corporation requires a minimum of $250,000 of non-borrowed personal resources to consider you for a franchise. In other words you need $250,000 cash on hand to just start open communications with McDonald’s. That’s all fine and good if you have that kind of cash lying around to invest. That’s great – kudos to you!
Since most entrepreneurs today who are out there to start a businesses don’t have that kind of cash flow, let’s talk about another legitimate business opportunity – the home-based business.
There are a tremendous amount of home-based business opportunities out there right now, and a ton of those are network marketing companies. This is where you will find the more affordable businesses.
After doing your due diligence on the company you would like to work with, then it’s time to set up shop.
I think it goes without saying that you will need a computer, internet/online access, an e-mail account, and a telephone. With those minimum items, you can start your business. That’s it. If you think it’s crazy to be able to start with so little, it’s no joke. Whether you do your advertising using pay per click, in print, or writing articles – that’s all you need. You can also do some Web 2.0 marketing by using social media like Facebook and Myspace, etc. or even do videos on YouTube by getting a video recorder. These days they are very affordable.
Now that we’ve talked about the material things that it takes starting a businesses, let’s talk about what it takes from you, as the entrepreneur if you were to choose a home-based business, such as network marketing.
1. You must have a strong why. The “why” can’t be about money…that’s not what will keep your drive when times are tough. Dig down deep for this one.
2. You must be focused. Keeping your eye on your why will help keep you focused.
3. You must stay in consistent action. So many business owners start to recruit people into their business, and then they move right on into managerial mode. You must stay in the recruiting phase or your business will die a quick death.
4. You must be willing to make sacrifices. You are truly going to have to give up some things and it might be kind of painful. Maybe those nights out all the ball game, your Friday night bowling league, or even your favorite t.v. shows. (Of course nowadays DVR can help with those kinds of sacrifices.)
5. You must be willing to do whatever it takes. You will have to step out of your comfort zone. You will have to talk to people that you’ve never met before.
6. You must have a willingness to grow personally. Personal growth should actually be at the top of the list. You will need to spend 20 minutes a day, at least, on personal development. This can come from reading books from great authors like Napoleon Hill, Robert Kiyosaki, Michael Klause, just to name a few.
7. You must have the ability to handle set backs. Be prepared to stick with it for the long haul. There will be ups and downs, and you will need to be willing to weather the storm.
8. And finally…you will need to shift your mindset from employee to entrepreneur. You will need to be disciplined in your actions.
Ultimately, starting a businesses can be very fun and exciting, as long as you have the right tools and mindset in place.