Home Based Business Entrepreneurs Look For Million Dollar Opportunities With Life’s Lemons

Life Happens!

Many times, even our best laid out plans go awry. How we respond to those lemons and mishaps reveal the strength and resolve of our character, problem solving abilities and our mindset. Circumstances test us and grow us far beyond what we wish we didn’t have to experience.

This article specifically addresses the economic lemon so many people in the world have been handed. By reading this article, one will discover 7 simple action steps they can take right now to begin formulating their lemonade recipe.

Our mindset and thinking will determine the outcome when we are handed a lemon. What we tell ourselves about our circumstances will become our reality. It comes down to mind over matter.

Entrepreneurs learn early on how to make lemonade from lemons if they want to succeed.

Entrepreneurship does not make you immune to problems, in fact, it’s an invitation for them to surface! For those who can take lemons and run with them, they will survive. Those who are unable to do so will find themselves further back from even square one.

Lemons can be beautiful if you will accept them with the right attitude.

I look at real life lemons and truly they are beautiful. The bright yellow color is sunny warm and inviting to the eye, the outside texture is fun to touch, the aroma captures your senses, the complimentary green leaves provide decoration and adornment… they are beautiful. It’s when you taste them that makes your eyes clasp shut and lips pucker. So one must be able to alter the taste and blend some good sweet components into the lemon to make the fruit bearable and even enjoyable to eat.

Have a game plan for how you will think and behave the best you can when lemons are tossed your way.

Be prepared mentally to respond creatively. Personal development again, will teach you how to prepare. The entrepreneur will take lemons, add a dose of personal development and mindset, mix it up with creativity, throw in some action, stir in lots and lots of desire and commitment and the recipe often alters the course of their life in ways they may not ever have thought possible.

What if your lemons are worth a million dollars?

You want to look for opportunity in the challenge. Leaders do that. When an entrepreneur responds creatively, magic can happen.

  • Doors open.
  • Opportunities arise.
  • Products are developed.
  • Joint Ventures are forged.
  • Leadership and Personal Growth happens.
  • New meaning and purpose in life manifest daily.
  • Deeper awareness of life is appreciated.
  • Energy and excitement become part of your being.

Often people who have suffered a great tragedy in their life will take their lemons and share their story about how they survived because it encourages others who are going through the same thing to press forward. These individuals often become authors, speakers and highly sought after mentors who inspire and help others in becoming a better person, a better coach, a better employee or employer, a better parent… the list can go on forever.

We’ve all had lemons.

One of my lemons emerged after a wonderful 13 year run in my real estate career. It was snuffed out almost overnight by the economy in 2006. Thousands of real estate professionals, mortgage brokers and investors, home inspectors, real estate appraisers along with almost every industry in the world were handed this same lemon. While many people sat and waited to see what happened next, others acknowledged the lemon and looked for creative ways to deal with it.

That’s what I did. I took my lemon and began searching online for ways to create an income.

The first decision I ever made in entrepreneurship turned out to be a $35K lemon and 8 months of wasted time. Now I was holding two lemons!

Did I quit my exploration and interest in having an online business and watch my two lemons mold and rot and stink up my life? No!

I continued to look for ways to make lemonade (a bigger batch I must say because now I had two lemons to work with!). I knew there had to be a great lemonade recipe; I just hadn’t found it yet.

My lemon #2 taught me to make better choices and what NOT to do. Do I look at the $35K loss as a lemon today? No, not at all. I look at that as ‘tuition’ for home based business entrepreneurship. My journey would reveal smaller lemons along the way (more tuition) but lemon #2 was no longer a lemon. I had made delicious lemonade with that. Knowledge lemonade. Applied knowledge is power. I had a good foundation in online business. I learned so much and today I have such an appreciation and insight for online business because of the 8 month journey I took down the wrong road.

Will my experience help others so they don’t have to be the proud owner of that lemon? Yes. I’m grateful for that.

Over time, lemon #1 began to provide a lifestyle for me I would have otherwise never pursued.

Had the economy stayed strong, I would still be getting up every day to go to work. I would have continued to slave away in my real estate career ‘thinking I was happy’. I didn’t realize how much stress and pressure and time that real estate took from me as a top producer until I began to compare that to the joys of having a home based business. Today, I go to bed when I’m tired and get up when I’m done sleeping. I do what I want to do. I put the hours and work into my business when and where I choose to. That is swweeeeeeet lemonade!

Life is what you make it, lemons and all.

Positive people take lemons and do things with them. Negative people allow their lemon to rot and mold sets in. They look to their future as hopeless and depressed.

What are YOU doing with YOUR economic lemon(s)?

If you have a tendency to be a sourpuss and really want to change that about yourself and your home based business but need some simple directions, here’s some help.

7 Lemonade Action Steps You Can Do Immediately

1. Bathe yourself in personal development.

Question your drive, your commitment and resolve to take your lemon(s) and turn them around for the good. Home based business entrepreneurship is not for the faint of heart. It’s for those who can taste time and financial freedom and who will climb the highest mountain and swim the widest/deepest ocean to obtain that. Personal development teaches individuals how to grow up as an entrepreneur and sets a tone for leadership and acting in spite of fears. It has to start here.

2. Check out books from the library or surf the net to learn what other successful people are doing online.

You’ll find thousands and thousands of individuals are affiliates for various network marketing/MLM companies. Others are coaches, some specialize in offering website design, or blogging and technical services. Some are marketing products they have created based on what they are interested in. They took their hobby and turned it into a business. The sky’s the limit for you. The list is miles and miles long. It’s a beautiful buffet! Your home based business can be whatever you want it to be.

3. Read and study to learn marketing because when you know how to market, you can write your own ticket.

If you plan to market something, anything, online, there are skillsets to learn in terms of marketing. You’ll want to learn to blog, to write articles, to make videos, and other stuff. If you’re not open to learning how to market, there’s little that will happen for you I’m afraid. Entrepreneurs are excited about learning new skillsets that will allow them to present themselves and their value to the world. Many people think it’s going to take too long to learn, or they are baby boomers and fear technology. It’s really no big deal. Nobody will see your home based business if you are not lite up online.

Time is going to go by anyway so why not learn these basic skillsets that you can use the rest of your life? There’s a lot of free ‘know how’ online. Just search “how to ____ (fill in the blanks) and you’ll be surprised what you can learn.

If you have a budget you can work with, there are many online training platforms that you can plug into that on an average run from between $47 and $150 a month. They teach everything on how to do internet marketing.

4. Take what you are passionate about and start a blog where you can share with others.

Have you seen the movie Julie and Julia? You should if you haven’t. Not that it’s an A+ movie, (far from it in my opinion) but it shows the entrepreneur the sheer power of blogging and what sharing your passion can do. Watch it from that perspective.

Your blog will be your home online. It’s a place where people can get to know, like and trust you. It’s a place where you invite others to join in your conversation and share your passion with you. Overtime you will come to have a following.

Begin to write articles and post your thoughts and interests about what you’re passion is on your blog. You can post a couple times a week. Your readers will look forward to hearing from you.

5. Create a product around your passion and offer it to your subscribers who find value in your education.

For example, one of my hobbies is scrapbooking and foster parenting. I saw a need and I wrote a book and live hands-on training for foster parents and social workers on how to make lifebooks (scrapbooks but with a new name) for foster children. It’s a very popular training still today and I wrote it several years back. Share your knowledge about your passion and package it in a report, ebook, video or video series, audio/podcast series or a combination of any of those. Create a PayPal button and add that onto your blog and sell your product.

6. Get involved in social media.

Establish a profile at Facebook and twitter. Research forums and groups online where people are talking about and sharing in your passion and participate. Share your love, enthusiasm and knowledge with others in those communities. Be a go-giver. You will find the greatest people who become your dearest friends through online relationships.

7. Share your story on your blog.

Share your lemon story and how you are, making lemonade (or already have made a batch!). You will inspire others as they are wondering whether a home based business is right for them. They will appreciate you for being transparent. You will be real to them and being authentically yourself doing something you are passionate about feels super good. Try it, you’ll like it.

As you work on these ingredients of your lemonade, be mindful of value you have that you can offer others. This is called attraction marketing and by sharing your very best information and giving the world the very best you, you will find that people will start to flock to you.

This is by far, not a complete list of action steps in dealing with the economic lemon you may have been given, but it’s a great start in appreciating your circumstances in that it will open new doors of opportunity for you if you’ll allow it. You may find yourself in a home based business you never dreamed of until you were handed a lemon. And that home based business could turn into a 7 figure income. It’s a possibility. Dream big and go far.

Tip #1 – Home Business Entrepreneurs Are Organized

If you’ve tuned in to our video series on home business tips, you will have seen Jani discuss the topic of being organized. While this tip might seem obvious because organization applies to so many things we do on an everyday basis. But the question here should be why is it so important to mention it when it pertains to having our own home based business opportunity.

When we work for an employer in an office environment outside our home for example, very often we step into an environment that got organized and systemized for us and we just have to follow the established work rules in place. Because we work for an “organization”, they will have organized everything for us. When we work from home and work for ourselves, it then becomes logical and important to establish the organized work environment for ourselves.

While one of the reasons an individual wants to become a home based business entrepreneur is because of the freedom the home environment procures, it is also that same environment that can distract you and deter your focus from business related activities.

Having an office is a good idea and we will talk about that later in the series but you don’t want to be sequestered to an office so you may want to make yourself wireless enabled. Having a laptop, wireless Internet, and cordless phones is all you need to be mobile within your own home. It allows you to take calls from anywhere in the house and tap into any online resources you need. Most wireless phones have speaker phone capabilities which is great to keep your hands free should you need to access your laptop at the same time. An even better way to be hands free is to plug a microphone headset to your wireless phone which provides even clearer communication.

It doesn’t take much hardware to be in business from home but what else will help you stay organized? One of the things you can use your laptop for to stay organized is to establish a schedule. Making up a schedule and sticking to it is one of the organization tools that will keep you most efficient and give you back time you didn’t realize you had. When I first established a schedule for myself (reluctantly) I was most amazed at how much time I had for myself. By categorizing everything you do, from business to personal items, you actually end up having more time than without a schedule. That is because there are several small blocks of time (5-15 min) scattered throughout the day that are wasted and when taking them all into account by making them part of the schedule, you eliminate the waste and therefore end up with time you did not realize you had. What you do with that time is up to you!

There are several softwares out there that allow you to keep a schedule, from very expensive to totally free. I use the MAC system because it incorporates the management of scheduling, communication and marketing all in one. And it does it from an online platform which means that all this is available to me whether I’m at home or away as long as I have access to the Internet. There is a monthly cost to the MAC system which is well worth it given all it does but there are other alternatives out there which we happily provide in our training.

Jani, being a single mom, quickly adopted flylady.net to develop her schedule. It’s one thing to have a software to hold a schedule but it’s another thing all together to know what to put in your schedule in order to fit everything in given the “rat race” we sometimes perceive to live in. You might find flylady handy for you; don’t worry, being a single mom is not a pre-requisite to use the site.

Schedules, time management and organization is a topic that can branch into finer details and therefore a topic I could expand on as I do with my team, but since I’m writing an article and not a book, we will have to stop here. I hope that our first business tip has been of value to you and you are welcome to come back for more as we build our home business tip series for the individuals looking at starting a home business or the entrepreneurs actively operating one. Here’s an idea, how about you make a point of visiting our blog on a regular basis by marking it in your schedule – are you ready to pencil it in?

Charting the Course – Business Plan Development & Research

As it is necessary to understand the direction and strength of the wind, before sailing, one must know the contrary winds in business. Charting a development strategy for a large or small business requires detail information about the competition. Too many entrepreneurs launch out with a dream, but never bring it down to the real world where men, women and children make the decisions “to buy or not to buy.” What are the qualities and flaws of the competitive products or services? Where and how are they sold? What are the prices and discounts? Who sells them? The provider’s reputation, financial strength, history and sales staff provide important clues to the nature of competition a product faces. The best ways to research include:

· Search the Internet for information, critiques, or evaluations of your competitors;
· Purchase the product or service for your personal evaluation;
· Find out what potential consumers think about it;

Getting this information requires a bit of work and research. Visit the competitor, interview their customers, sit in a place where you can observe the operation, and keep records. Who’s buying? What are they buying? At what price? Always look for any wrinkles in the competitor’s operation.

Once you have drawn a picture of the competitor, compare your own business plan to that. What advantage does your business strategy, location, products or services have over the competition? In particular, consider the pricing. Can you compete on price? If your goods are higher in price explain why. You may succeed with higher prices, but there will have to be reasons why people will pay more for your products. The aesthetics of the store, the nature of a guarantee, the skills of the sales staff and other features make be an attraction. How does your business compare to the competition? You want to compose your strategy based on the competition. All of this information will give you a clue to the potential you have of beating the competition. If you can beat the competition you have a better chance of being the business to survive.

Customer Service Adage Correction – For Wholesale Business Entrepreneurs!

The customer is always right! Well if uch adage is true everyone in labor could get fired easily thanks to some customers, dont you think? If by the books you are self-employed, a certain customer may just not be right for you. When you become your own boss, there is a good amount of stress that you already need to cope with on top of the other challenging responsibilities that go with the CEO title.

Decreasing as much stress as possible should make your business way better in overall terms. When deciding to eliminate the time waster, who indeed takes up a lot of your support time issues – you are likely doing both you and him a favor.

If you deal with wholesale merchandise business and customers on a daily basis, it does not mean you are being rude to them by rejecting their business. You are just setting up your standards, your ideals and the respect for your self-employment status.

If you think it would be bad business to turn up front cash or customer lifetime value, the fact of the matter is- aggravation is just one of the many top of the line negative issues you have to decrease to a heavy extent with troublesome customers.

But you may believe in entrepreneurial options. Be it e-commerce in the wholesale merchandise business, the 80/20 rule of the wildly known Pareto’s Principle, it all applies! Yes, the one that states that 80% of your income comes from 20% of your customers.

Well if the Einstein’s are correct, 80% of your stress shall also come from 20% of your beloved customers. Likely case today if structuring online business correctly, that ratio may be more like 95% of the stress arrives from 5% of your customers. My entrepreneurial tip if you really want to stay with the majority of your new customer’s, whether they are high-maintenance or low-maintenance, outsource your business and developing projects.

By now you may be asking, how in this world can I hire them? Go creative – it’s the 21st century. I personally love how Subway has structured part of their marketing system and expansion mythology with royalty fees and monthly attachment with the franchisee. By 2010, you can expect more Subway’s in our city then gas station country wide here at Puerto Rico! Their methods works, why not do the same with our own budget?

You could hire a professional for your wholesale merchandise business and pay an agent monthly fees, what is the equivalent of royalty fees in the Internet marketing world. Many of us started doing it heavily in some of our businesses a while back, you might as well find creative ways to get a talent in your team for more productive time and more profits!

2008 surely sounds more exciting! You either will retain your customer thanks to a hired professional on your end and pay small monthly fees, $100-$200.00 per month are reasonable these days, or you will end the potential lifetime value from your ready to buy prospects.

It’s all about deciding. Decide in reasonable terms whether you are in the wholesale merchandise fulfillment relations business or you are on your own. Play the game smart and adjust your way to niche stardom, as one of the best bets as you may know is making right decisions!