OverviewIn my years of mentoring and conducting Business Management training, people usually want me to tell them if I think they have the attributes to succeed in Home Based Business.Much as this appears to be a difficult question to answer, research has shown that there’re indeed certain character traits that predispose some people to succeed in home based enterprise.Aspiring to become a Home Based Entrepreneur is quite exciting; what with the pride of being your own Boss. But desire is one thing and having the right Personal Traits that can ensure the success of the business is another ball game altogether.Some of these traits are innate while some can be learned. However I have enumerated them here for you to consider before taking the leap. This is not meant to discourage you but to bring them to your awareness in order to help you prepare properly and make a success of your dream. Do not be dismayed even if you lack some of these attributes because they can be learned or acquired through training.So in this write up, we’ll discuss the personal character traits most successful Home Based Entrepreneurs always seem to have.I hope this will help you do a self-assessment and thereafter invest in training to beef up areas of need.Without further delay, below are the attributes.• Great DeterminationRight from the beginning, you must make up your mind to succeed in your chosen endeavor. Having a “Can Do Spirit” is always an advantage. When the pressure builds up, it’s only that huge determination to succeed that will help see you through.As the saying goes “when the going gets tough, the tough get going”• Having Self ConfidenceThis is almost like having strong determination. Having self -confidence and believing in one’s ability is also very important in the potential success matrix needed by a Home Business Owner. The saying “self- confidence makes the man” must have come from this. Even the ordinary con man is able to perpetrate his activities through his self-confidence.• Consummate Self StarterA self-starter is a person who does not procrastinate. He does not wait for someone to prod him into taking necessary action.A self-starter will not postpone to tomorrow what he’s supposed to do today. A self-starter is an action oriented person who attacks the task at hand and achieves set targets without being supervised or reminded.• Being A Natural Risk TakerIn order to succeed as a Home Based Entrepreneur, you must be a natural risk taker. Some people are risk averse but almost all successful Home Business Owners are ready to take that risk, burn all bridges and do whatever it takes to succeed.• Fast Thinking And FlexibilityHaving the ability to think fast and react quickly to unfolding situations is the hallmark of a successful Home Business Owner.Threats can come up suddenly from new government policies and the ability to think fast and adapt to the new situation can make the difference between success and collapse of the business.• Do What You EnjoyYou have to be totally obsessed with your Home Based Business. You eat and drink it every moment of the day.You must be very passionate about your business or else you’ll cave in when the pressure builds up.I recommend that you get involved with what you enjoy doing. Even turning your hobby into a Home Based Business could be the best decision.You’ll work harder and succeed faster because you won’t see what you’re doing as work. Invest in that thing that you would enjoy doing even if there are no pecuniary benefits.• Have A Good Business PlanYou must be able to prepare a good Business Plan and work the plan. It’s said that “He who fails to plan has already planned to fail”. Your Business Plan is like a Blue Print for your business. It must be flexible though to make room for adjustments as you go along. It’s like a road map that’ll lead you to the final goals set for your business.• Good Money Management SkillsHaving the right attitude to money is very essential. No matter the amount of cash available, a Home Business Owner without the right Money Management Skills will run the business aground.You must have a Money Management Plan and stick to the plan. Knowing how to allocate resources to the most needed areas of the business is very important.My advice is that you must be shrewd and frugal with your expenses- especially cash flow. This is to avoid running out of cash at an auspicious time.• Good Selling SkillsHaving the right selling skills can help you succeed in your business.You must be able to explain to people why what you’re offering is the best solution for the problem they’re having.• Create Authority Around YouIf you want to succeed in your Home Business, you must be willing to learn new things. You must be willing to keep up to date with latest industry trends.Being disposed to reading books, attending seminars and staying ahead of the competition is very essential.Your ability to market yourself as an Expert and a reliable resource in your field is very important.People will run to you for solution to their problems.• You Need Good Marketing SkillsThe ability to develop the perfect USP for your Home Business is very important. You must have a very good reason why I should buy your products/services instead of buying from the shop down the road. This could be the difference between growth and early bankruptcy.• Excellent Net Working SkillsA Home Based Entrepreneur with excellent networking skills already has an advantage.Good networking skills entail having the ability to strike up relationships that can generate business opportunities and mutually beneficial relationships.It should not be a one way street though. You must think of what you can contribute to the relationship even before thinking of what to get from the other person.• Develop A Magnetic PersonalityHaving a likable persona that will attract people to you is an advantage. On the internet, design an engaging website. Don’t be aloof. Always stay engaged with your customers and community.• Be Organized, Be Disciplined!You must not take for granted that you are your own boss and so wake up 10 am and decide to chill with a glass of wine and some music. No! You must maintain a high self – esteem and discipline. Wake up early, listen to industry news and get started with the day’s activities.I mean you must have a positive daily routine• Embrace New Technology And Management ProcessesBy this I mean you should be disposed to the use of modern technology. Invest in new technology that will help you work smarter by achieving more results while working less. For instance, if you are being inundated with orders and you are having problems meeting up with schedule, you can outsource this aspect of your business to experts in that field. This way you keep your business lean and responsive.You can also invest in modern software like inventory management software to help you manage your business more effectively.You can also invest in ICT to help you run your business more efficiently.• Be ProfessionalStrive at all times to be professional in all your dealings. Maintain the highest ethical standards. Honesty must be your watch word!Dress appropriately when meeting with clients.Ensure you have a home office and a dedicated phone line for your business• Don’t Be Afraid To FailFinally, this might sound weird but failure is part of the process of learning how to do it better next time. Do not be afraid to fail but remember to take away the lessons learned.The great Thomas Edison who failed over 5000 times while trying to discover the incandescent lamp said that each failure taught him how to do it better next time.Wrapping UpWe’ve come to the end of this discussion and I hope you find this write up useful. Though some of these attributes are innate, they can all be acquired through structured training. So you should not be discouraged if you find yourself wanting in some areas.Do you feel I’ve left out anything, please feel free to send in your thoughts.

Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.

If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.

Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.

For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.

No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.

There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.

Product creation in Internet marketing is getting stiffer and stiffer nowadays owing to tough competition between Internet-based businesses. Putting up a new product requires plenty of brainpower and finances along with an ability to take risk. With that, even if you have the product well-set already, you have to position it strategically in the Internet landscape for others to notice. You should get the interest of Web users and turn them to actual customers. Aside from the usual physical products, many different products that thrive well on Internet marketing include E-books, membership sites, and video lectures.

The long and difficult process of product creation begins with ideas. They are easy to get – compared to the effort that comes with analyzing the market for that idea. Before the idea turns to a product, businesses often spend money, even amounting to millions of dollars, to ensure the success of the new product that emerges from an idea. Businesses undertake many types of market research and surveys before releasing their products to the public. Now, you may think that because your business is small, you can’t afford research or you don’t have to do research; you can and you should. The Internet allows you to disseminate materials needed for your market study to many people at once without your having to spend a cent.

It is a common maxim in business: Look at your destination first before mapping out your journey. So what are the goals you intend to accomplish with your product creation ventures? The everyday travails of your business may make you forget the end in sight. On the other hand, prepare to entertain new developments that come to your mind in your product creation. Your conception of a product may have started this way, but a few tweaks here and there along with some market research results and it ends up another way. Take it as the result of a creative process, not as a failure to reach your goal. After all, your product creation activities are intertwined with a long-term goal that you should strive to sustain at your utmost: profit generation. So if your less profitable initial idea evolves to a more profitable product, be thankful!

With your product made up already, start doing some aggressive Internet marketing. A product purchase typically comes after more than five times a customer is exposed to an informative call-to-buy message. Thus it is important to get the contact details, like the e-mail address, of potential customers who are on the brink of a sale. Use the results of your market research to determine the demographics to which you should concentrate your marketing efforts.

With consistent product creation, you can make an inventory of your products that you can market in due time. Just keep making products – the moment you succeed in making and marketing a product, customers are surely wanting more from you, so give it to them. Keep them on your side through constant product creation.