Archive | February, 2022

If you’re trying to contact people via email and they’re ignoring your messages, here’s what you do. Send them the “magic” email.

I didn’t name this. In fact, you can find several good articles about the magic email online.

And no, it’s not really magic. But in many cases it does indeed get a person to talk to you and even invite you for a meeting.

It works like this:

You’ve sent out one or more emails to your leads. Some have answered, some have not. Some of those who initially answered are now ignoring you.

For all those who are not communicating, send them this email:

“Since I have not heard from you on this, I have to assume your priorities have changed.”

You can add to this or send it as is. I’m told (I haven’t tried this myself) that your response rate will typically be 50% or more, which is really, really good.

Why does it work? Because you don’t sound needy. Heck, you don’t sound like you need them at all. You’re making it clear you are moving on. And when you take something away from someone, what happens? They suddenly WANT it. So they reply back – often immediately – to try to keep you from walking away.

Try it – you’ve got nothing to lose and plenty of sales to be gained.

So, you’ve decided to start a home based business. Congratulations, and welcome to the fast-paced world of entrepreneurship. While there is a lot to learn, your effort will be worth it. The thrill of growing your business, the freedom and flexibility to set your own hours, and the possibilities of ever-increasing financial rewards are all wonderful reasons to start a home based business.

Now that you’ve decided to start your business, you might be wondering “How can I get it off to the strongest possible start?” These 7 tips will help:

Set up a separate working space in your home. It doesn’t matter if this is a small bedroom, one part of the garage, or a corner of the living room. I used to work out of my closet. The important thing is to have some space that you can designate as your working area. This will give you the space and room you need to craft your dream.

Stock your working space with materials. This sounds basic, perhaps, but one underlying element of success is that you have easy access to the tools, materials, and other resources you need. Gathering everything close by also keeps you from wasting time searching for it, so this step can be considered a time management strategy, too.

Speaking of time management, your third step is to define the parameters of your business. What days and hours will you work? When will you do your marketing? When will you provide services or products to clients? How will you keep all of this straight?

Balance action with planning. One of the most common pitfalls to successful entrepreneurship is getting too caught up in action without enough planning. Stated another way, this means that you confuse “being busy” with “working on important projects.” The best approach is to plan your next couple of goals and then work backwards to create step-by-step action plans to reach them. Once you have the plan, then it’s time to take action.

Network like crazy. One of the fastest ways to grow any business is to make connections with other people. Be sure to share your passion and enthusiasm with others at every opportunity. Let people know who you are and what you offer. Remember, people can’t buy if they don’t know you’re selling.

Present a professional image. If you want to be treated professionally, present a professional image. Set up a separate bank account for your business. Install a separate phone and fax line. Create professional marketing materials. Be courteous and pleasant in all your customer-facing interactions. Basically, be someone people want to do business with.

Automate your business as much as possible. Granted, you are just one person (right now) and might have a lot of extra time to take care of all the details. This might work for now, but won’t work into the future as you get busier and busier. It’s best to set up automatic systems and processes right from the start to free up your time to concentrate on the most profitable activities.

Working at home can be a dream come true for many people, and these days with computers and the internet, it’s more realistic than ever before. That said, building a business requires strong prioritizing skills and self discipline to take action toward your goals. If you have these qualities and are committed to doing whatever it takes to be successful, the dream of working from home can soon become your reality.

Don’t quit your day job just yet. If you are a baby boomer looking to start a home business, there are 5 essential things you must do first.

Leaving the security of a job with an established 401(k) plan, health insurance or other benefits can create a real tug of war for baby boomers who want to pursue their dreams of owning their own business.

Analyze Your Exit Strategy

At the time of this writing, the youngest of the baby boomers are turning 42 and the oldest are turning 60. No matter where you fall into this group, analyzing and preparing your exit strategy from your job will be crucial to your long-term success as a home business entrepreneur. Do you have adequate savings? If you’re married, will you be able to participate in your spouse’s health insurance?

Create a Financial Plan

How much is your salary now? What are your fixed, variable and frivolous expenses? Create a solid plan so that you and your family will know exactly what the financial picture will be until your business gets off the ground and starts generating revenue.

Choosing a Business Model and Legal Entity

There are several business models to choose from; home party plans, consulting, and affiliate marketing to name a few. You have to make the decision based on your personality and what you are best-suited for. Choosing a legal entity for your business should be discussed with a tax accountant or your attorney. Options are sole proprietor, LLC or Subchapter S- Corp.

Set Business Benchmarks

You wouldn’t travel across the country without a road map, your business is the same. Setting financial and business-building benchmarks will help you to create a focused plan that will help you to reach your success.

Get a Physical

What does getting a physical have to do with your business? Once you leave your job, most likely your health insurance will change and as unfair as it may be, trying to get new health insurance when in your 40’s, 50’s or 60’s can be difficult. While pursuing your dreams of a home business is something you are probably very passionate about, if you do not have good health to enjoy the rewards of your efforts, not much else is important.

The baby boomer generation is like no other before it or after it. Technically, we are considered middle-aged, but we are anything but middle-aged in mind, body and spirit. We know there is more meaning to life than a commute to an unrewarding 9-5 job, but there are also important steps we must take first. Planning and preparing for your home business now will reduce headaches later on, and increase opportunities for success.