Is THIS Home Based Business Model Right for You?
Have you ever thought about owning your own business?
For most of us, startup cost are the biggest barrier. Paying rent, buying insurance, purchasing inventory or equipment (or both). There can be enormous investments of both time and money before you ever open the doors.
Don't forget marketing! You've got to get some material printed, a website, maybe some signage.
Some people risk their life's savings, their retirement fund, and max out their credit cards to start a business they've dreamed about or a franchise pitch they fell for, only to lose it all by year #4 (often sooner).
What Kind of Business is Right for You?
"Follow your passion." This is a common mantra we hear quite a bit these days. How do you do this in a home-based business? How do you take your love of cooking, wine, golf, quilting, toy trains, writing, poetry, classic cars, nutrition, fitness...and create a productive home-based business?
Here's an example:
I'm a 53-year old guy who enjoys golf. I'm not a good golfer but I still love the game. I want to play more and become better. I also love nature and the beauty of golf courses. When I play golf, I'm always on the lookout for wildlife. I look for fish, turtles, snakes, and alligators in the lakes and streams scattered on the grounds of most golf courses. I look to the sky for hawks, and other birds you don't see often in the city. Then there are the dear and foxes I often see grazing or trotting down the fairway.
The golf course is also a great place to meet people. Golf is ideally played in foursomes so if I show up to the golf course alone or with one other person, I'll often be matched up with a couple of other golfers and we'll play together. It's a great way to meet people and even establish new friendships and even business opportunities.
How can I take my passion for golf and all I enjoy about it and create a home-based business?
The Best Way to Make a Business Based Upon Your Passion is to Provide Marketing Services for Businesses in the Industry of Your Passion.
If there's an existing industry around your passion (existing businesses selling supplies, a trade organization established to serve that industry, magazines published to serve the trade), this is a good sign there's room for you to bring value to others and earn money doing it in your own home based business.
Let's go back to the golf example. As a mediocre golfer who wants to get better at golf, spend more time on the golf course, rub elbows with new people (with whom I may be able to do business or acquire business referrals), here are some ideas about how I would go after this home based business model.
Every golf course has its resident golf pro who runs the golf shop, gives lessons and basically makes his or her living making the golf course run like a business. These golf pros aren't the guys you see on TV playing against Tiger Woods, these are people who have met the criteria and standards of the Professional Golfer's Association (PGA) to become teachers of the game. They can play good golf and can identify flaws in a golfer's swing to help improve their game and therefore, they're qualified to teach the game and get paid for it.
In addition to lessons, the pro is usually involved in the profitability of the pro's shop at the golf club.
Can You Deliver Online Marketing Services to Professionals or Business Owners in the Industry of Your Passion?
I have no scientific evidence, but I imagine golf pros are like 90% of other business owners and have no time nor interest in learning how to market their business online. Knowing with certainty every golf pro needs to keep his or her schedule of lessons full, make more sales of golf clubs, balls, shoes, and golf clubs, and keep more golfers playing on their course, they obviously could use a good marketing strategy.
Helping Business Owners in the Industry of My Passion or Major Interest
If I wanted to serve a golf pro with marketing , I would simply approach him or her and say, "I have some ideas on how you could sell more [lessons, golf merchandise], would you be interested in bouncing some ideas around?"
Since I'm already genuinely interested in golf, I will try to create an appointment with the pro on a day I plan to play golf at his or her course. This has a couple of benefits:
1. If I have a legitimate business, I can now run the expense of the golf game through my business which makes it a business expense and a tax write off (I will let my accountant make the final decision on this).
2. I will have the law of reciprocity working for me. Although this isn't foolproof, it usually works like this: if I patronize YOUR business, I have gained the right for your attention.
I would call in advance to make a tee time for golf and ask to speak with the golf pro and say, "I'm coming to play golf there Thursday and I just made a tee time for 10am. Would you have a couple of minutes to talk either before the round or after?"
In reality, business owners and golf pros can't always be counted on to keep their appointments so I'll show up with some printed material to leave behind.
This process will work the same no matter what industry you may wish to serve.
How to Provide Your Prospect With Marketing Services
If I were serving professional golfers I would offer them
- There own personal website.
- Taking videos of them providing golf tips and posting them on YouTube and their website.
- Featuring merchandise in their stores with video, and online.
- Help them sell older inventory by creating in-store promotions backed with online marketing.
- Creating a large email list of patrons and keep in touch on the topic of specials on merchandise, golf course conditions, special golfing rates, and lesson packages.
To land my first few clients, I would probably offer an initial set of services in trade for free golf or golf lessons. After my services proved to be producing new sales and clients, I would ask for referrals and also introduce additional fee-based services.
With all the golf courses around, this would surely turn into a several clients which will have matched my business with my passion for the game of golf.
Can You Imagine Putting Your Passion and Career on the Same Path?
The 7-Day Marketing Pro™ training can help you serve any kind of business. A home-based business which combines an income with your passions is like a dream come true. This can happen for you. And once you serve a few clients successfully, you will build a reputation which will make it easy for you to raise your fees and still get all the clients you can handle.
Visit http://www.smallbusinessu.org/7dmp to learn more about this training. Anyone who can read and write at the high school level can become a 7-Day Marketing Pro™, build your own home based business, earn professional fees and follow your passions by serving the industries you love or care about the most.
Visit http: www.smallbusinessu.org/7dmp to learn more.