Creating a residual income from home is very intriguing. If you decide to get involved in a home business to create a residual income, here are 7 tips to get you jump started.
1. Make sure your decision is a firm one. You see, making a decision vs making a firm decision contrast sharply. The reason I say this is because there are thousands, if not millions, that wish to make more money from home. Making the money is the easy part. Deciding to stick it out to make the money is the hard part.
Why? Statistics show that over 95% of new home based businesses fail within the first 90-120 days. Why is this failure rate so high? Great question. In my opinion, the initial decision to get involved was not a firm decision. That means you proceed forward no matter what. There will be obstacles, challenges, setbacks, etc. along the way. But if you have a firm ‘no matter what’ mindset, you are on your way.
2. Get the support of your loved ones. Running a home based business is hard work. Just like any other business, you must have the support of your spouse, partner, family, loved one, or the person that is closest to you and your life. Without their support and the ‘no matter what’ attitude from step 1 above, you will fall into the 95% that quit, fail, or just move on to something easier.
3. Set aside a home work space. Setting up your home work environment is crucial. It is important that your treat your work from home office area as your typical 9 to 5 office. When you are in your work from home office you are there to work. You are there to get things done. You are there to further your business. Removing distractions can be challenging when you work from home. Try to limit them as much as possible.
4. Manage your time. It is very easy to become consumed with your laptop or your PC when working from home. There is tons of information and education for an online marketer or work from home expert to process. Take it day by day and be sure to balance your time for family, recreation, etc. When you are balanced you are fresh. Your business should be considered a marathon and not a sprint.
5. Find a mentor. Having a mentor is very important when working from home. Hopefully, your mentor is a residual income expert and very successful. After all, to be the best you need to learn from the best. A mentor is someone that can help you when you need it. A mentor is someone you respect. A mentor is someone that has already accomplished something you wish to accomplish. There are great mentors available online today. Take the time a find yours.
6. Be professional. Regardless of your business, make sure you carry yourself as a professional. What is a professional? Someone that respects others, treats his home business like any other business, and tries to help others along the way.
7. Automate your business as much as possible. Remember that you are just one person. But, having the automated marketing tools that work for you are vital. The proper marketing tools can replace some of the human factor. And, if setup properly are easy to manage (unlike some employees).