Sunday, September 03, 2006

What are The 5 Magic Keys to Skyrocket A Home-Based Business?

What are The 5 Magic Keys to Skyrocket A Home-Based Business?
Copyright © Monique Hawkins

You are interested in working from home by running your own home-based business. However, you are not sure what business opportunity to become involved with. The good news is that now you can relax! You are about to discover the 5 magic keys that you need to find a proven home-based business opportunity that can make you wealthy! Let’s discover what these 5 magic keys are.

Why do we need these 5 keys? It’s simple! Because using them together, they can make you rich! Remember that nobody gets rich out of nowhere or by accident. There always is a reason why average folks get wealthy, and it’s not by chance. Believe it or not, most of these folks don’t even know how they got rich! The reason is that many have stumbled onto an opportunity that is smoking hot and has at least four of these magic keys. Use them and you will have a smoking home business!

Magic Key #1: There has to be an established and growing market for the home-based business you are looking at. This is the most important step. Pick your work at home opportunity right, and you will have the power to make all of the money you will ever want. Choose the wrong market, and you will end up frustrated and have lots of hassles and headaches.

Most folks focus only on the product or service they want to sell without checking first to see if there is even a market for it. The ingredients for the perfect home based business are:

1. It must be established.
2. There has to be lots of average folks who are already getting rich.
3. The market must be easy to reach, huge, but still growing!
4. It must have average folks who are getting rich with the opportunity.
5. You have to discover what they are doing to earn their wealth and check what they are doing right or wrong.
6. You have to duplicate their actions by doing what you see them doing right and correcting mistakes they make.

Magic Key #2: You have to offer something new or different that will cause your home-based business product or service to stand out from all of the other competitors in the booming market you choose. How can this be done? Simply by finding new and exciting items or services that fill some sort of serious problem in the market place. Do this, and you will be years ahead of your competitors.

Magic Key #3: You have to have a strong answer for all the skeptical people out there in the market you are targeting. Let’s face it; we all are bombarded by tons of advertisements for business opportunities. The newer something is, the more skeptical people will be. People who are scared will not buy! So, it’s important to ask yourself, what can I say or do that will erase people’s fears and make them want to give their money to me? Since skepticism is a growing problem everyone in business will face, one MUST answer this question! There has to be a solid answer.

Magic Key #4: Residual income HAS to be built into your entire home-based business plan. Residual income is money that you make automatically on an on-going basis. Set up things right once, and you money can be made easily for months or even years! Think if this as your greatest insurance policy; one where you will always have plenty of money no matter what happens to your business. This gives you tremendous freedom.

Magic Key #5: Your home-based business must ALWAYS have at least one high cost item in its mix of products and services. What happens is that the sale of this high cost item will help you cover your expenses plus give you a very nice paycheck! The sad fact is that many businesses are not set up to have this important key since they sell low-ticket items for very slim profits. Worse, their chosen markets are small or highly competitive! So, it’s important to avoid this trap.

The fact is, if you do things right to begin with by choosing a fast-growing market that produces huge and insatiable demands, it will be really easy to find or develop the right high ticket products and services that will make you plenty of money.

So, there you have it! You now know about the five magic keys that all billion-dollar ideas have in common! Use these keys right, and you can become quite wealthy.

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