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13 I-Action steps to a Business Plan for a Home-Based Business

Welcome back!

[ Business Plan for a Home Business – I-Action step #1]

Where are you trying to go? What is your goal?
[The first item we are going to address in your Business Plan for your Home Base Business is the most important. It is something that is really dear to my heart. I believe it is so important, that I wish that I could come right up to you, look you in the eye, and convey to you how important this is. ]

[ Business Plan for a Home Business – I-Action step #2]

What’s in it for you?
[Define: What is your “Why”?
Obviously we all know starting a business is not the easiest thing to do, but it is the most rewarding thing to do. If that is a true statement for you, then, what is your reward? What is your why? Why do you want your own business? When I interview people I ask, “Why do you want your own business?” About 1 out of 5 people I asked would give me a real answer. That shocked me.]

[ Business Plan for a Home Business – I-Action step #3]

You get to pick and choose?
[Decide what are you are selling? Products, Services or the Business opportunity?
Most Network Marketers are in a company where they have the options to choose on what they want to sell. Some of the companies have high quality products with exclusive rights. Other companies provide excellent service.]

[ Business Plan for a Home Business – I-Action step #4]

You are the specialist!
[Be the specialist of your business!
Now that you have decided what you are going to sell, be the specialist on it. You need to be able to describe exactly what you are selling. If you have chosen to sell a product, it is your duty to know that product. If it is services you’re selling, then it is your mission to understand your services.]

[ Business Plan for a Home Business – I-Action step #5]

You are so unique.
[Define: What is your competitive edge? What makes people want to choose you, and go with you, and do business with you?Why should people choose you over Joe down the street or Larry next door? ]

[ Business Plan for a Home Business – I-Action step #6]
These are my people!
[Define Who is your Target Market?
Now that you have taken an inventory of yourself and know your edge, the next step is to identify the people you are going to sell to. Who are they? It makes the most sense to choose the group that will find your edge most valuable to them.]
[ Business Plan for a Home Business – I-Action step #7]
You had me at Hello.
[Define: What is the competitive edge of your business over other businesses like yours?
You got your head in the doors of your target market because you have the right kind of edge your target market is looking for. Now how do you get them to the meeting table? What makes your business the right choice for them? What is the competitive edge of your business?]
[ Business Plan for a Home Based Business - I-Action step #8]
Let’s talk: Time and Money!?
[Define: the financial and time investments you will commit to your business.

You should know how much money you can spend on your business and you should know how much you are spending on marketing, and equipment, and other business expenses. Break it down. How many hours can you work your business? You may have to keep your day job in the beginning. Therefore, you may only be able to work your home-based business part-time. You may be able to start working your home-based business full-time right out of the gate. Whichever the case may be, you need to plan it out.]

[ Business Plan for a Home Based Business - I-Action step #9] What time is it?
[What are your business hours? What is your work schedule? It’s very important to have a work schedule. It is so wonderful to have the flexibility of your hours as a home base business owner. However, a trap that entrepreneurs often fall into is if you don’t keep track and hold yourself accountable for the hours, it might be easy to get off track. ]

[ Business Plan for a Home Based Business - I-Action step # 10] Let’s have it out on the table!
[Have a meeting with your family.
This is one of the most important things. You’re running this business in the home, in your family’s territory, as well as yours. You are going to be re-budgeting, reorganizing your time and your money. All of it affects your family. Have a meeting with them. This will help you gain their support and understanding. This will help you get them on board with you. Make it clear to your family what you are trying to accomplish for yourself and them.]

[ Business Plan for a Home Based - I-Action step # 11] Doing a juggling trick.

[Delegation

Once you have your work schedule and your meeting with your family, you have to delegate. As a mother, a father, a husband, a wife, we all have tasks that we have to do to contribute to these relationships. Initially, with your own new home-based business, you will have less time for those tasks. ]

[ Business Plan for a Home Based Business -I-Action step #12] Give yourselves some mile stones?
[Define your mile stone along the way.
Make a time table to reach these mile stones.
If you are brand new to Network Marketing, your mile stones may be:] [ Business Plan for a Home Based Business -I-Action step #13] Be determine, like a dog with a big old bone.
[Determination
Operate your business until you see a profit! You know that you’re not going to make a huge amount of money immediately. It will take time. For some people, it takes longer and for others, it may be faster. ]