Business Alone

Give me one good reason why you feel you can't compete with big business?

I know, I know - the image of the giant squashing the little guy with no effort at all can be pretty intimidating.

You wonder . . . "How can you and thousands of other small-time operators working out of a home office compete profitably in customer markets where the big boys have their products stacked high and deep and their margins honed razor thin?"

Just how do you run a bootstrap operation and attract customer interest and trust in the midst of mammoth ad campaigns, huge branding budgets, and non-stop glitzy intrusions?

How many folks do you know that have had a great business idea, but never got going because they figured they couldn't compete with Wal-mart or just big business in general?

Maybe you've experienced some of those thoughts.

I have a sense that this "road block" stops many aspiring small business owners from ever pursuing the dream of going into business for themselves.

Listen . . . there are hundreds of thousands of solo small-time operators working out of a home office competing profitably in customer markets where the big boys have their products stacked high and deep.

Here's the key: choose your niche wisely, specialize deeply, focus on your strengths, and forget about going head-to-head with the juggernauts.

Let me give you an example.

Large business organizations are like 1,000’ cruise ships: they’re slow to get underway, slow to bring to a halt, they require a very wide turning radius, take a large crew to man properly, and tons of daily fuel to propel.

And, oh yea, they’re loaded to the hilt with baggage!

Operating such a beast requires a crew of thousands and enough financial and physical resources to run a small country. I’d be surprised if some of these vessels don’t have their own zip code!

You, on the other hand, in your home based business, are a one-person dingy – a tiny drop in the ocean, so to speak, that better stay clear of the path of these giants or you’ll be sucked into their wake and lost at sea forever!

But there is a way . . . a secret way to survive . . . and even thrive!

I'll admit it . . . I'm a victim.

So are thousands of other would-be entrepreneurs that never start a business because they just can't seem to find the traction to get going.

Sure this is a big step . . . sure there are lots of reasons to begin slowly and not jump into the water that's too deep or too swift until you know how to swim.

Yes, careful planning and thoughtful mentoring will certainly increase your chances of success.

Regardless, the first step is always the hardest!

So many, many people have great difficulty in setting themselves in motion. The reasons are many, of course, but the sad truth is that many dreams fade as the morning breaks because the dreamer can't get out of bed.

Indecisiveness, over-analysis, and the fear of making the wrong move stop many people in their tracks and paralyze them from ever planting and growing their own small business idea.

I sincerely believe that a successful business can be created around almost any marketable idea.

I also believe that every person has hidden away in his/her mind, a potentially profitable business idea that can be made marketable in the right hands.

Your task, as I see it, is to identify the idea(s) that has this great potential and test it to the extent that you're comfortable with it becoming the basis of your new business going forward.

So how do you pull this good business idea from your mind? Where do you go to find it?

Who says Internet business can't be adapted and put to profitable use by a youngster?

Here's an example of a young boy in my neighborhood that has chosen the Internet as his business contact and delivery mechanism.

You may have heard the slightly cynical phrase - "If you can't figure out how to do something on your computer, just find a six-year-old." There's a whole heap of truth to that observation. Anyway . . .

I learned about this kid in my neighborhood, who shall remain anonymous in case the child labor law spies are lurking about, that decided to run his business online.

Are you prepared for a job change?

Any one of a thousand catastrophes could hit your employer in these uncertain economic times. Even positive business events like mergers, buyouts, and spinoffs can have serious negative impacts on your ability to keep fulltime employment and draw a paycheck from your employer.

Your job could be gone tomorrow; it happens to thousands of hard-working employees every day. Today you're gainfully employed - tomorrow you're job hunting!

But enough of the gloom and doom . . . let's talk about an amazing new job alternative that you can take advantage of today that has the power to refresh your life, secure your financial future, and turn the tables 180 degrees so that you become the owner of your own business and the master of your own destiny!

The Internet landscape is saturated with claims of easy, automatic, guaranteed, wealth-building packages and lucrative startup systems that anyone can do with minimal effort and wild success.

These offers often seem so "right" for the novice just starting out in business because of their supposed ease of setup, lack of real work, and mega-profits that are "guaranteed."

But I will tell you: don't waste your money or your time on these products, and above all, don't get discouraged that you're getting left behind if you don't hit the "buy now" button before 12 o'clock midnight when the offer goes away!

The self-proclaimed wealth "gurus" that produce these products can't guarantee you anything.

It's so easy to get hooked on their outrageous claims of mega bucks for little or no effort.

My friend Jeff had tried three different business creation "systems" or turn-key packages over the past few months that had initially sounded like they were exactly the solution he needed to profit from his own online business idea.

But for various reasons, none of the systems had given him even one dollar of revenue to date.

Jeff just couldn't understand why he had failed, and why his purchases hadn't produced the income he was counting on.

With slight variations, these are the common themes of the systems Jeff had purchased:

Most new business owners tend to be great advocates for their product or service as they prepare for their business launch.

They become cheerleaders and proselyters for their product's features, benefits, and usefulness. They want to shout to the whole world that their "baby" is being born and it's the greatest improvement to ___________ of the century!

Do you know what I'm talking about? Have you ever felt this way?

I think new business owners are better served at the outset by playing the role of buyer or consumer of that product. Here's why . . .

It's a nasty name, "swipe files," but it's an idea you should implement immediately if you haven't already gotten yours started!

If you're like me, you run across great little ideas and tidbits on the Internet every day.

But if you don't record that idea, or web site, or reference, or "how to" hint for later recall, you will have forgotten that even existed within a day or two.

If you've been involved in copywriting, direct ad creation, web site development, graphics creation, email headlining, and any number of other online business tasks, you've probably heard the term "swipe files."

That's kind of a nasty or unpleasant term, but the concept is smart and the results of you building such files will be significant as you venture into your new information business.

If you don't know what a "swipe file" is, or you're not convinced you need one (or several), read on.

One of the first considerations in choosing a name for your new online solo enterprise should be to find out if someone else has already reserved and registered the same (or a similar) name.

You can hire this chore out to a professional firm if you have lots of money for such things or if you don't trust your own research capability.

Handing this chore off would probably be a good idea if you were treading on thin ice with your preferred name. For example, if you planned to register a name that is very close to a protected name, something like Amazon Jungle for your new book service, you may want to put the burden of proof on a company that will guarantee their results and have the legal muscle to steer the process through to conclusion.

I was thinking the other day about how my tastes, preferences, and attitudes have changed over the years since I was first married and had four little ones running under foot.

All my children have now reached adulthood and I'm called "grandpa." (By the way, for any of you staring a similar transition in the face - it's a wonderful thing! It beats the alternative, doesn't it?)

I don't read the same things that used to interest me. I don't watch the same TV I did back then (mostly "kiddie TV" to keep the wee ones happy). The Internet was not around yet.

You're asking the wrong person, I'm afraid. I'd like to hear from some of you out there in Internet land that have experience in this arena.

It's not wise to take advice from someone that has never been involved in MLMs or to make an assessment of their value, potential, and advantages or disadvantages.

Let me just set the stage with this short introduction to get you going:

MLM is short for Multi-Level Marketing. It is the type of business opportunity that appeals to many people because the business model and products have already been proven by others who have been successful at it.

Most of the Internet's best marketing minds agree on this philosophy:

"Don't try to create interest and excitement in your prospect for your product. Find an overwhelming desire already in your prospect's mind and fill it."

What does this idea suggest? Simply this . . .

Just a few years ago, if you owned a solo business and contracted your time and expertise out on an hourly basis, you probably called yourself a freelancer.

Maybe you were good at writing, or typing, or graphics design, or doing research.

Whatever the skill you possessed, you found you were able to hire your time out to others on an hourly or "per job" basis. It seemed pretty nice at the time.

Hopefully, you enjoyed whatever it was that you did because you were being paid to perform that function only as you were able to produce. Typically, the more hours you spent in someone's service, the more you got paid.

Most of the professional solo businesses that I am aware of have followed a very traditional model in how the business is set up and operated.

Most attorneys, doctors, counselors, and accountants design their practices around the way their predecessors did business before them.

They may decide to locate in a single office or they might opt for a group setting where several others of their practice get together to take advantage of a single building with a common reception area, staff of office assistants, and shared billing system, parking lot, and rest rooms.

Each professional is in business for himself, but his business only thrives as he is able to apply his trade.

He bills at an hourly rate, sees whom he chooses, and sets his own schedule, although his assistants really handle the appointments and flow of work throughout the day.

One of the ways solo business was conducted for many years in this country (U.S.) was by what I call "the one man band" business model.

An entrepreneur would create or find a product and proceed to sell that product to as many buyers as he could find. Sometimes the owner would develop a full line of products offering the consumer many styles, sizes and other choices.

The one man band was many business employees rolled into one. He did the research and development on the product, the manufacturing and/or purchasing, he was the salesman, the secretary, the customer service representative and the business owner all at the same time.

Since the beginning of time, solo business persons have opened and maintained retail stores that sold products to walk-in customers.

Sometimes the stores featured only specialty items, like a bike shop or bakery. Others carried a range of goods (like a mercantile) but remained small enough that one person could man the shop by himself and perform all the daily functions necessary.

There would be goods to order from manufacturers or wholesalers, shelves to stock, customers to wait on, books to be balanced, and cleaning at the end of the day.

If you are serious about starting a small solo business, there is no greater lesson to learn than how to apply the principle of maximum leverage to everything you do in your business operation.

Your survival, and ultimately your success, will hinge on how well you grasp the concept and make it your slave.

It's a difficult lesson for many, partly because most of us rarely practice applying leverage in our own personal lives. We tend to get complacent and accept low output and/or maintaining the status quo as our daily M.O.

Here are a few ideas that may be useful as you consider what you can do to become a star performer in the eyes of your customers.

In a solo business, it's easy to understand why most customers don't differentiate the owner from his business. If you, the owner, treat the customer poorly, your business stinks (even if the customer actually likes the products you deliver.)

And when your offerings disappoint, you, the owner, take the black eye.

It's understandable since the customer sees you and the business as one and the same.

Every business begins with an idea. The idea may or may not be your own, but it will determine, to a large extent, the success of your business.

So it follows that finding a good idea, the right idea for you at this time and place, is paramount in your attempt to begin a solo business.

But how do you know whether you have a good business idea or not? How do you know that the product or service you will offer will be something that others will buy?

Maybe you trust your brother-in-law Harvey's opinion that "this business is going to revolutionize the future of every man, woman, and child living in the free world."

I don't always recommend that you seek out an attorney and a financial advisor for your business safety and peace of mind.

And most of you know that I don't recommend the solo business owner buy an already established business.

But if that's your intent, and you have thoroughly checked out the business as I have suggested elsewhere, you still need to make absolutely sure this transaction is exactly what you intend. Surprises are not a good thing in this business.

Since you will most likely be investing a good deal of change in your purchase, and you will be spending the better part of your waking hours on managing your new "used" company, you would be well advised to consult with legal and financial counsel prior to closing the deal.

There should be a number of considerations that you look at before you set a pricing structure to your products.

But many entrepreneurs don't think much about an overall strategy. They believe they are limited in their ability to set prices beyond a certain range.

Let's say you decide to sell a DVD, for instance, that you produced yourself called "The Ups and Downs of Exploring the Grand Canyon on a Pogo Stick!"

If you play the "we guarantee the lowest prices" game, you will usually regret the decision. Of course, only you can be the judge as to your approach to pricing your products and competing in your niche markets.

But I will tell you that unless you are into razor thin margins and moving lots and lots of products, undercutting competitors is a chancy game - at best.

Here's why:

There is a tendency among new business owners to price their products and services too low in the hope that they will attract more customers and not be given a reputation of being overpriced.

There are several problems with this strategy.

First, the kind of information business we propose for solo Internet entrepreneurs won't have any direct competition. The products, information and business execution are likely to be very unique and tailored to the owner's personality and experience.

Preparation for business success can come in many ways.

Some follow a regimented career path through college and possibly graduate school to learn the art and science of becoming a business owner.

Others choose to get their education from home study courses, books, tapes, and other media presentations.

Most businesses are started by folks that don't have formal training in business. The school of "hard knocks" is their educational backdrop.

Over the next few posts we will be looking at things you can do in your business to:

- gain the education and experience you need to learn important and useful business skills directly related to your success,

- present your business in the best light as one that is real and credible,

- grow your business beyond being just a startup that doesn't go anywhere,

- expand your mind and your opportunities for new business ideas, new products, and creative solutions to business problems,

I cant' overemphasize the notion that the most successful business owners are the ones that become "students" of small business and especially, their own business model and niche.

What does it mean to be a student of your business?

Some who go into business become so focused on the daily routines and operations, they never take the time to study and learn about doing business in a more efficient and effective manner.

I've seen a vicious cycle, a treadmill that catches business owners in a kind of "time warp" or trap. The owner starts running on the treadmill and can never seem to jump off.

He finds himself running faster and faster to keep his business afloat as he becomes more successful, but he's never able to slow down, catch up, and he can't jump off.

You've probably noticed over your lifetime that companies dealing in quality products and services tend to remain in business over a long period of time.

Others that prefer to push inferior products - and sometimes just good or average quality offerings - usually have a much shorter life cycle.

Why is it? Wouldn't you logically think that cheaper and more affordable items would outsell more expensive ones if they both performed the same basic functions?

Was it tennis star Andre Agassi that proclaimed, "Image is everything!" in his popular commercials?

Your business image is an important tool for your success because it can either add to the overall perception your customers have about you or it can leave prospects wondering if they really want to take a chance on dealing with such an amateurish or careless business.

Image results from a lot of characteristics and visual clues about your business, but we're going to mention just two of the more important things you can do to portray your desired message in this post.

More than anything else, marketing your business and your products effectively will make or break your company. Read that again.

If you are not able to attract prospects to your offerings, whatever they are, you won't be able to generate income and your business will die.

Too often I hear online business owners saying something like, "I don't like to sell, I just want to develop my products" or "My products are great and they will sell themselves."

In case you haven't noticed, there is an important trend unfolding in the evolution of modern-day businesses that you need to understand and exploit as a solo Internet business owner.

Years ago, traditional businesses would set up shop in a physical location, stock shelves with the goods the owner expected to be in demand, and lastly open the doors to customers and hope they would buy what was offered.

The solo information business of today is different. No longer does the owner need to make such an expensive commitment to his guess or hunch about which niche is profitable and which products will sell.

I'm not suggesting anything like copying or plagiarizing someone's profitable business model and products to push them out of their own chosen niche.

Although this very practice happens all the time on the Internet with cloned or stolen and copied products and services, you should never consider such a blatant attempt to shortcut your way to success.

What I am suggesting is that you put on your thinking cap, get creative, and look at the solutions that successful businesses in other niches come up with to solve the problems they find in that niche.

Nowhere has the Internet made a more dramatic change in the existing power structure than in the business world.

It used to be that companies wielding the most power and influence were those that operated from a position of strong cash reserves and seemingly unlimited access to professional service muscle like Wall Street financial advisers, Big Five accounting expertise, and legions of powerful corporate attorneys.

The "Big Boys" could buy their way into business advertising that dwarfed their competitors.

What you end up doing with what I am about to tell you could have a great bearing on your ultimate future as a solo Internet business operator.

I can't over emphasize this point. I hope you pay close attention and get the message clearly.

Undertaking a solo business is like placing yourself in the pilot's seat of a commercial airliner. Your customer's pay to climb aboard and have you fly them to wherever it is you've advertised.

No doubt you have heard this famous phrase many times before - it is used in context with both scientific application and general business principles.

I will borrow it today to talk about an important habit that I think all entrepreneurs ought to adopt and practice for the rest of their lives.

I have mentioned many times that the most successful solo business owners are the ones that ride the crest of the wave of trends and technology in their niche.

One of the ways they do that is by keeping themselves informed about the environment in which they operate (their niche subject) and the world of business both nationally and globally.