The 10 Commandments of Home-Based Business

There are (at least) 10 absolute musts for anyone who desires to run a successful online home-based business. Print this out and place it where you can often refer to it for inspiration.

1. Thou Shalt Not Pursue A Free Lunch:

Chances are, you will not get rich quick. Accept it. Don't waste your time (and money) convincing yourself or listening to others who tell you differently. Hard work and perseverance will not fail you.

2. Thine Products Must Solve A Prospect's Problem:

We humans are greedy creatures most times. We want comfort, ease, peace of mind, and a plethora of other self indulgences. Put yourself in the customer's shoes and ask "What's in it for me?". If your ads or products do not clearly spell this out, and tell the customer how you will give him what he desires, most times you will not make the sale.

3. Thou Shalt Educate Thyself:

Read, Read, Read. Observe other successful people in your field. What are they doing differently? Read some more.

4. Thou Shalt Budget For Advertising:

Free advertising is a waste of your time. The only people reading free ads are the ones who are placing them there, and all they're looking for is their own ad, not yours. Instead, learn all you can about your target audience, and find them. Whether it is through pay-per-click advertising using highly targeted keywords, eZine ads, banners on related sites, etc. Don't go after the general public. Go after people who are looking for your type of product or service. Allow a certain monthly expense for advertising and stick to it. Set goals when it comes to increasing your ROI (Return on Investment), but don't obsess.

5. Thou Shalt Track Thine Advertising:

You made a sale! Congrats! How did the customer find you? If you have 10 different ads on 10 different sites, how on earth will you know which one(s) are working? Today, most online advertising is easily tracked, and the platforms you are using (like Google, Facebook, etc.) have tools so you can view your results.

6. Thou Shalt Tweak:

Familiarize yourself with the term "split-test". In a split test you will take 2 ads and send them out simultaneously and measure the results to see which ad pulled more clicks and sales. You take the better of the 2 ads and create another one. Run a split-test again with your best ad and your new ad. The winner moves on to the next round. Repeat this process often.

7. Honor Thine Mailing List:

Your current and previous customers are an incredible source of revenue for you. It's a shame that many online business owners neglect this each and every day. Stay in touch with your prospects by sending an email or printed newsletter or flyer. Offer them special discounts and loyalty bonuses. If you forget them, they will surely forget you.

8. Thou Shalt Not Be Hindered By Failure:

You will fail. Period. Dust yourself off & get back on the horse. It is part of your education. Learn from it and move forward. Perseverance.

9. Thou Shalt Duplicate What Works:

Commandment number six goes hand-in-hand with this one. The wonderful thing about doing business online is the ease at which you can scale-up your operation. If you find something that works, do it again, and again. Reach a larger audience. Expand your advertising.

10. Thou Shalt Reward Thyself:

You need some time away from the computer. Go outside. Go shopping. Visit a friend. Buy yourself a new toy. Read something non-technical, fiction maybe. You've earned the right to treat yourself. Make it a habit or it will become a resentment.

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