Last week I gave you the truth about your personal escape plan. I told you to let go of the misconceptions of instant riches and the myth of not working. I told you to find a successful system to follow. Now we are planning your escape.
Here are 7 Elements to Planning Your Escape:
Element 1: Find Out Your Why
Why are you starting a home business? What is your goal? How much money do you want to make? Your why will always be the driving force around your home business. It’s not about the money.
It’s about what the money can do for you. You will need a burning desire to keep you focused on your goal. Your why is the fuel to get you to your destination. Your “Why Power” is stronger than your “Will Power”.
Element 2: Keep Your Day Job
Employed? Keep your day job. Keep your bills paid, food on your table, and invest in your home business. You may hate your job but at this moment it is funding your dream. Your job is your friend.
Use your lunch and break times to build your home business. Use your travel time to listen to personal development audio. There are at least 2-3 hours of downtime between your breaks and travel to work. Use it on your home business.
Read Part One of the Great Escape: Your Personal Escape Plan
Read Part Three of The Great Escape: Your Business Plan
Read Part Four of The Great Escape: Successful Marketing System
Element 3: Find the Right Business
People make this mistake all the time. Don’t follow the money. Follow your strengths. Find a business that fits your talents. If you don’t like pushing lotions and potions, don’t join that business.
If you don’t like real estate don’t become a real estate agent. Do your due diligence. What are your interests? Furthermore, what have you been successful at? Find the business that matches your personality.
Find a business that has a consumable product or service. Look for commissions that will help you get to your goals faster. Find a mix of low-end and high-end products. Anything you sell should offer residual income in some form.
Element 4: Invest in Your Business
Here is a shocker! Your business requires money and it needs it every month. This is why I said keep your day job. It might be 30, 60, 90, or 120 days before you make any money. Depends on your product or services. Affiliate programs may pay daily, weekly, or monthly. Licensed professionals may have to wait until a deal closes (like real estate agents, or loan officers) to get their commissions. Continue to invest whether sales come in or not.
Element 5: Sales and Marketing
You will fail if you don’t make sales. It’s that simple. You have to make sales. Do not listen to the mentors who say that you don’t have to sell anything with their system. Notice how they are selling their system to you.
You will market your product or service. This could be through free marketing such as a viral blog, social syndication, and public speaking. You can also do paid advertising. It’s best to use both.
There are hundreds of ways to market your home business. Don’t be a jack of all trades and master of none. Pick 1-3 marketing techniques, learn them, and implement them immediately.
Element 6: Your Business Plan
When you find your home business you need a business plan. Keep it simple and concise. If you join an affiliate, direct sales, or network marketing company they will have a proven success plan for you. If you are an independent licensed contractor your broker, franchise, or mentor will have a success plan. Persist with the plan until you succeed. Only become creative once you learn the fundamentals.
Element 7: Mastermind Group
Find a mastermind group of like-minded people, plug in, and learn. You can join Toast Masters International, your industry groups, and clubs. You can find them online. There is a learning curve to everything. Shorten the curve by gaining from other people’s experience.
Action Steps
Review Part 1 of The Great Escape and then go through these 7 Elements. Planning your escape is simple. It’s not easy and it will require work. Commit to the fundamentals of business, sales, and marketing. Success is a journey so enjoy the ride.
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