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posted on:
3/19/2011 11:00:02 PM EST
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A Business Owner's "Best Friend"
GBG, home business, success principles, economy, MLM, gas prices, work from home
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The most powerful force known to man is TRUTH, and it is truth that holds the key to your success. The Bible says the truth will set us free. That divine principle applies to every aspect and relationship of our lives – including business.
Throughout this “expose” on the home business industry I am going
to share some of the most critical truths you need to know to succeed
with your own business. These truths are like laws – if you abide by the laws of good business you will enjoy the ride of your life – however, if you break the laws of good business they could break you.
It is possible that after you read this special report you might determine that owning a business is not for you. That isn’t likely to happen, but it is possible.
So, if you reach that conclusion, based on your honest self evaluation, then this report will have saved you a lot of frustration and probably a lot of money – but again, that isn’t likely to happen.
Truth #1 - If you wouldn’t hire you, then don’t start a business
Let me get the negatives out of our way immediately. On occasion I am asked by folks whether I think it would be wise for them to start their own business. I like to answer their question with one simple question. “If you owned a business, how many employees like you would you want to hire?”
In other words, are you a good worker - dependable, optimistic, honest and hardworking? If you would love to have as many employees like yourself as you could get, then by all means starting your own business is likely to be a good decision. If not, then either don’t start a business - or, work hard to become that employee you would love to have working for you.
Truth #2 – Business success requires that your brain must rule your emotions I have often said to folks that, “the truth is the shortest distance between where you currently are and where you want to be”.
If you truly want a highly successful business, then here are several reasons the that the truth is your very best friend:
The TRUTH exposes problems that MUST be corrected to succeed. This means that by confronting the truth head on you will always be working on the “right” things.
The TRUTH targets your mind – lies and hype target your emotions. This means you will manage your business and make business decisions based on facts and logic - not illogical emotion.
The TRUTH is logical and therefore much easier to understand. This means that you won’t waste priceless time trying to sort out your emotions.
Lies and hype are allowed to rule the home business industry only because otherwise intelligent men and women allow themselves to get trapped by their emotions.
Big, fast and easy money will always sell better than hard work, but hard work produces “slow wealth” and get-rich-quick only produces heartache. If achieving financial freedom in 5 to 10 years isn’t fast enough for you then you need a reality check!
If you work a part time home business and build up even a modest monthly income of $2,500 what you have achieved is really very wonderful. It would take $1,000,000 sitting in the bank earning 3% interest to produce $2,500 a month.
Even just a $500 a month income level from owning a business, assuming that income is long-term income, would be equal to a $200,000 asset. That’s how so may people have created wealth by owning their a business.
Truth #3 – You need 5 years of experience – not six months experience 10 times.
Five years from today most folks will just be five years older and further from their goals, with five fewer years to work with.
It doesn’t have to be that way for you!
Many home business entrepreneurs jump from one deal to another. So, five years from now they will have 6 months experience with 10 different programs. What they need is 5 years of continuous experience with ONE quality program.
Most folks spent years making poor decisions which lead them to where they are today – and, most don’t like where they are, but they unwisely hope they will win the lottery with the latest, hottest, slickest get-rich-quick scheme.
What if you applied yourself to the same quality home business for five years? Yep, you just might end up independently wealthy. You definitely will end up far better off.
The best way to insure that you take advantage of this critical truth is to choose your home business wisely and very carefully. I’ll talk more about how to do just that in a few moments.
Truth #4 – Most home business failures are caused by bad choices
Some estimate that the business failure rate exceeds 98%, but no one really knows for certain. However, the one thing that is commonly agreed on is that the failure rate is extremely high.
Millions of men and women from all over the world have tried their hand at business
ownership and failed. Interviews reveal that literally hundreds who have failed did so multiple
times with a variety of businesses.
As you would expect there were some who admitted they really didn't try very hard to succeed. Others acknowledged they had fallen prey to “get-rich-quick” schemes that had zero chance to work.
However, many had carefully selected companies with financial strength and quality products – yet they still failed.
It's surprising to discover that a high number of men and women who fail do so in spite of being highly educated. And, the mere fact that they had endured the long educational process to acquire advanced degrees proved they were willing to work hard – yet they still failed; but why?
Just as the human body needs food, water and oxygen in order to thrive; your business also needs certain essentials to thrive. It feeds on time, money, prospects, sales skill and sales synergy.
Think about it - the first four of those are common sense. I’ll explain what I mean by “sales synergy” later.
Doesn't thinking about those business essentials also help to explain why even the highly educated often suffer home business failure? A few suffer because of limited time and money - but, almost ALL suffer because they have very few prospects and only limited sales skills.
Those essential resources for business success either have to come from the business owner - or, the business owner MUST get them from other sources. Next time, I’ll show you how.
Truth #5 - The weakest link controls the strength of a chain
Normal everyday people will always make up the vast majority of people in any network marketing business. Consequently, if you want to be a successful network marketer, you must own a business that will work well for normal everyday people. You may possess higher than average capabilities, but most of your team will NOT.
You may believe that you have such unique skills that you can defy the truth and therefore think you will end up with a team of highly skilled men and women. However, 50 years of facts are screaming at you to rethink what you are doing.
Everyone recruits DOWN not up - meaning the boss recruits the secretary, rarely the other way around. So, over time, as your group grows, the demographic of your group will soon be largely that of typical everyday men and women. It will ALWAYS work that way - no matter how hard you work or train - most folks in your team will still be normal people - not big time recruiters. IF YOU ACCEPT that truth, you can profit from it and help a lot more people. I’ll explain how later.
Truth #6 – Most businesses will NOT work for most people
No amount of hype, exaggeration and outright lies will change the fact that most business can NOT and will NOT work for most people.
It doesn’t matter how great a trainer you are; how great a leader you are or how hard you are willing to work, the fact remains that most businesses demand more than most people have to give.
The facts - the truth - demands that we reach that conclusion. Can you think of even one other thing, other than network marketing, that is supposedly great for everyone, but the failure rate is a shameful 95%+? OF COURSE NOT!
We already know th
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