Writing Portfolio: Business Articles 
 

The Key to Success for a Home-Based Business

Get set for the ride of your life! Starting a home-based business is exhilarating and a little scary. If you have what it takes; a great product or service, enthusiasm, commitment, self-discipline and a good plan, you will inevitably succeed.

Starting a home-based business is an adventure full of exciting twists and turns, and challenging detours, too. A home-based business can enrich your life in many wonderful, often surprising ways. Running your own show teaches you things about yourself you may never learn while working for others. There is magic in learning how creative and resourceful you are; it's empowering and paves the way to success.

 Many home-based businesses can be started on a shoe-string budget while others require significant financial investment. Self-discipline may be the most important prerequisite of all. Operating a demanding business steps away from the hub of family activities and countless distractions is a challenge that takes practiced concentration.

 Innovation and Entrepreneurship

 Preeminent business philosopher, Peter F. Drucker wrote, "Entrepreneurs innovate. Innovation is the specific instrument of entrepreneurship. It is the act that endows resources with a new capacity to create wealth. Innovation, indeed, creates a resource. There is no such thing as a "resource" until man finds a use for something in nature and thus endows it with economic value".

 At another point in the narrative about innovation Mr. Drucker states, "There is no greater resource in an economy than purchasing power. But purchasing power is the creation of the innovating entrepreneur". Focus your vision on opportunity. Check out the demographics and come up with something new or reinvent an idea that sprung to life but sadly fizzled out years ago. Now may be the right time to rejuvenate old ideas. It's all about innovation, a new take on a traditional service, a brand new product that makes life easier or a specialty service that appeals to a small but growing niche market.

The number of home-based businesses is growing exponentially every year. The entrepreneurial spirit rises to the occasion in these times of need where job loss preoccupies a nation. The Internet and computers have made it possible for us to make a living, and maybe even build wealth, sitting at home in our pajamas. Home is our sanctuary, where we are free to express our creativity and unleash our imagination. No boss says, "Get back to work". You silently force yourself to do what needs to get done. Whether we work from a fancy fully-equipped home office or a cubbyhole in the kitchen pantry, a home-based business can be anything we want it to be.

 Home -Based Business Ideas

Literally hundreds of ideas for home-based businesses are ripe for the picking. The Internet provides food for thought. The hungry entrepreneur will objectively assess  his or her talents and skill set, then home in on a business that tantalizes his entrepreneurial palate. If you are drawn to a business concept that seems out of reach, stretch yourself. Take a leap of faith and explore the possibilities.

For example, if you love cooking, take a gourmet cooking course. There is likely a market for home delivery of gourmet food in your area. Is baking your forte? Sweet shops run from home kitchens are big business. Who doesn't love home-baked goodies. Learn about your competition. Can you compete with them on the same level, or carve out your own specialized niche in the catering or sweets business. Do you love dogs as well as baking? Start a canine bakery in your home kitchen. If you love dogs, baking and own a country property with acreage, open a dog park, day-camp or dog walking service and sell your baked treats to your clients.

Thorough market research is imperative to success. There's no point in pursuing an idea that has flop potential. Examine successful businesses, especially long-established businesses in your area to see what makes them tick, what is it that keeps customers coming back. Think about products you can make or distribute from your home, mobile services you can offer.

How to Win Customers for Life

 Dr. Michael LeBoeuf, author of "How to Win Customers and Keep Them for Life" and "Working Smart" wrote, "There is absolutely no substitute for an honest, unshakeable, enthusiastic belief that the products and services you offer are the best available anywhere. Couple that with a sincere passion for helping people and you have an unbeatable combination for creating and keeping customers".

 People are persuaded more by attitude than by logic for two basic reasons. People are ruled by their emotions and emotions are contagious. In the final analysis, persuasion is not about converting people to your way of thinking, it is converting people to your way of feeling and believing.

 It's not enough to be excited about your business. Knowing how to generate enthusiasm in others for your product or service is the key component to being successful in any business. Effective marketing is prerequisite to selling everything, including your credibility. Make the commitment to educate yourself, it is critical to long-term success.

• The Internet is brimful of free marketing tips and techniques and is perhaps the best place to start.

• Visit your local library; free information abounds in books and periodicals.

• Attend seminars about marketing. There is usually at least one going on somewhere in every large city in North America.

• Seek out mentors — their advice and guidance is invaluable — they have traveled the same road and established successful businesses.

• Talk to business people in your community, whether they are home-based, a retail store, a real estate professional or other small business. One of these successful entrepreneurs may be willing to share business tips with you. Learning the ropes from established business owners gives you a good head start and helps ease you through the transition from employee to being self-employed.

 Suggested Reading

 For timeless business advice, these step-by-step how-to guides, time-management and motivational tools are excellent resources.