If you are starting from a humble beginnings it is still possible to become wealthy if you are prepare to apply the secrets of the wealthy and rich and it can be done almost overnight. In fact scores of people are included in the millionaires club, while a few dozens move up to the big boys billionaires club every year. Anyone can build a wealthy home business if you have the qualities that are essential for success. So whether you wish to earn six figure incomes, have multiple streams of income or residual income then the list of required attributes in building a wealthy home business can be group into five broad areas namely: desire, choosing the right business for you, attitude, marketing and leadership.
The quality of leadership is not genetic or some special rights bestowed on the privileged few, nor is it dependent on the number of zeros on your paycheck, but solely on your commitment to diligently pursue those qualities that will strengthen and develop you as an effective leader.It is only the magnitude of your commitment that will determine the quality of your leadership. Remember the timeless adage; leaders are not born they are made, and whether you have these naturally innate leadership qualities or not is not a hindrance to you becoming a leader. Leadership and I am referring to effective leadership is an essential feature in any business model of your choice and also very important in building a wealthy home business and residual incomes to enjoy the lifestyle you wanted for you and your family.
As a leader in a home business you must be enthusiastic about your work and have a passion for excellence. Good leadership means being a source of inspiration for your team and motivator to taken action. Good leaders developed the ability to always focused on the main goals, analyzing the task at hand as a whole as well as breaking it up into sub-parts that are more manageable and progress towards achieving the desired outcome. Therefore passion, inspiration, motivation and the ability to remain focused on your goals are key elements of leadership in building a wealthy business from home and creating multiple income streams.
“Leaders are not born, they are developed”
Desire is an essential quality of effective leadership but by itself, desire will not ensure that we life a life by our design, to win the money game or become wealthy but it is an important ingredient and an essential step for moving in that direction. If you want something badly enough you will get it because desire can be an unstoppable force. If you want to earn six figure incomes, residual incomes or have multiple streams of income, then an unstoppable desire to succeed is essential. A strong desire to succeed in building a wealthy home business dispels any thought of ever quitting as an option. If you want anything badly enough you will find a way or make one, in order to be successful, no matter what the price or sacrifice required. Once you have the desire to become successful you must persevere and remain steadfast on your task. This is keen to note because some people seem to “born tired” and are naturally lazy possessing no self-reliance or perseverance. Your desire is the fire that heats you up to perform, to excel. P.T. Barnum, in the book The Art of Money Getting, stated that “If you hesitate, some bolder hand will stretch out before you and get the prize”. The proverb of Solomon succinctly puts it like this: “He becometh poor that dealeth with a slack hand; but the hand of the diligent maketh rich.” One simple exercise that I’ve found useful in fuelling my desires constantly to be successful in building a wealthy home business which I’ll share with you now is:
1) On a piece if paper or word pad write down all the reasons why do you want to achieve your goal.
2) List all the benefits you can gain if your goal were achieved, starting with the word “I”. For example; “I am a successful business man”. “I am building strong family ties at home”. “I am a successful internet marketer”. “I provide for all my families need”. The more clearly stated reasons you have, the stronger will be your desire to be successful.
3) Practice to reading your list of benefits every morning.This affirmative action triggers your sub-conscious to act as though you have already achieved your goals, since your sub-conscious mind doesn’t distinguish between realities. It places your goals or wish list into the present and not something to be achieved at some later time. This daily affirmation keep you connected with your goal during the day, making you more motivated and inspired.
“Desire overcomes obstacles to success.
Desire makes molehills out of mountains.
No matter what stands in the way, it is moveable.”
Maintaining a positive mental attitude is very important in the pursuance of achieving your objective to build a business from home and gain the wealth you need to live the life that you always wanted. After all the old adage is true, “so a man thinketh so is he”. In other words, we perform the way we think. Positive attitude and optimism work like a magnet for success. If you maintain positive attitude no matter what the situation is success will come to you automatically.
“We may not be able to control the obstacles of life,
But we can control our attitude.”
Every goal will require some kind of sacrifice. There is always something to give up in order to achieved a certain desired outcome, and if you wish to build a successful business from home so you can have the wealth to enjoy the lifestyle you want, then don’t forget this fact. In business this sacrifice is called the opportunity cost. The right attitude for success means having the right priorities. It is only the right attitude toward success can allow an aspiring entrepreneur to live the kind of lifestyle that you for yourself and your family, having a steady stream of residual income to do so.
So what kind of sacrifices have you had to make for your goals in the past? What kind of sacrifices have you been making (or struggling to make) with your current goals?
When it comes to sacrifices, only two things matter:
Is it worth it? With every goal, you need to know that what you stand to gain is worth the cost of what you’ll have to give up.
Are you willing to do it? If you find that you are willing, all you need to do is simply keep reinforcing that decision mentally every time you feel tempted to act in ways that are counterproductive to your goals
Finding An Appropriate Business For You
So far we’ve covered issues dealing with desire, attitude, and leadership. Now lets see if we can’t find an appropriate business for you. So you have a plan to retire at age 35 or maybe 40 years and you are certain in your decision to start your own business, be your own boss so you can be become financial independent, maybe even to become a multi-millionaire earning six figure incomes but do you know what business to get into, which is right for you and do you have the requisite Business Management Skill Sets to be successful and build a business from home?
Building a business from scratch usually involve many steps and some critical decision making, namely: 1) should you or not go into business and take the plunge so to speak. 2)The business structure or model to adopt- sole proprietorship, partnership, limited liability Company etc., 3) The kind of business niche, or what kind of company should I start. I am of the view that the most critical decision is the kind of business to start- Brick and Mortar, Franchising and Licensing, Home-based, E-commerce, Niche market websites or Multi-Level Marketing (mlm). What makes it so critical is are the myriad amount of business opportunities available. It is almost incredibly easy for aspiring entrepreneurs, without proper research and guidance, to fall victims in making the mistake of investing in the wrong type of business. It is therefore critical to choose a business model that’s appropriate to your interests and even your personality.
“Unless a man enters upon the vocation intended for him by nature,
And best suited to his peculiar genius,
He cannot succeed.”
Since there are thousands of business opportunities vying for our attention; a Google search will prove my case(over 4 million business opportunities advertised), so how can you tell which is right for you? Each business model might has its own distinct structure and way of being conducted, however, some of the most commonly chosen models are:
1) Brick and Mortar:
This refer to the regular usual type of business where there is a physical structure where all business activities, with clients are done.This physical space is usually a separate space from your primary residence.
This is the business model of choice for those entrepreneurs who are seeking residual incomes and multiple stream incomes because of the tremendous amount of flexibility it give them shuttling back and forth between business and personal life. It is usually run from a small office space in your own home.
The internet is by far the most dynamic vehicle for growth for those entrepreneurs who wish to become successful by building a wealthy home business earning six figure incomes or may be it’s just to diversify your earning potential with residual incomes and multiple income streams. Some online business opportunities provide home based entrepreneurs excellent scope, if they are willing to put in the work, to create the income streams they need to win the money game and live the life of their dreams.
4) Multi-Level Marketing (MLM):
MLM is a good residual income earner for those entrepreneurs involves selling and building up a network. The earning potential is good, if you are high up in the network triangle. The more people you have under your own network, the more money you earn and the larger is your stream of residual income over time.
A guerrilla marketing strategy for all aspiring entrepreneurs who wish to successfully build a wealthy home business, earning six figure income or a constant flow of residual income, is called attraction marketing. Attraction Marketing is a very powerful way to optimize the leverage of your home based business. It can be used to build any kind of home based or small business by leveraging social media, internet marketing and direct response marketing principles.
Attraction marketing primarily involves the branding and promoting of you the entrepreneur, not your business opportunity or network marketing company or program. You can personally brand and promote yourself to your potential clients using any of the social media available to you. These include web sites, blogs, videos and social networking such as Facebook, Twitter and email marketing. By doing so a home based entrepreneur can attract like minded people who resonate or relate with their story, their background, their hometown, their college or high school and this helps to build a list of contacts, which is the lifeblood of any online business.
The essential tools of attraction marketing are simple and consist of:
Lead Capture page.
Basically a single page on your website offering products of value free of charge to potential customers in exchange for their email address. this is the fastest way you can build your list.
Auto responder services allows you to deliver a prescribed email to your prospects inviting their patronage in your product for sale.The benefit of this program is that it’s done on autopilot for you.
“Attraction Marketing is a simple philosophy that is very effective for home based entrepreneurs”
Many dream of starting their own businesses, but remain frozen in status quo mainly because they do not know what business to engage in. While starting a business with your individual interests and expertise in mind is crucial, so is the necessity of making sure that this enterprise represents a concrete entrepreneurial opportunity.