Are you Running A Successful Business or are you failing you to grow your organization to the size you want it to be?

The unemployment rate is predicted to dip in 2010 and is not expected to turn around in years. One in five families are having difficulty providing food to put on the table, and it is this particular challenge that gives them a desire to do more in life. Although the financial crisis has seemingly closed many doors, it has also led to become an opportunity for people to be entrepreneurs.

The United States was founded on an entrepreneurial spirit. Back in the day, people had to be creative to find ways to earn money to provide for their families. Most people were self-employed in the early 1900s, however today, most people are now dependent on others for employment.

What is the difference between an entrepreneur and an employee?

Entrepreneurs usually have an investment mindset. They are aware that in order to make some money back, they will have to invest some of their own money first. They are usually self-starters, very motivated and pro-risk – meaning they take the chance at profit or loss. Entrepreneurs are people who can organize a business venture and assume the risk for it. They are the ones who hire employees.

Employees are those people with a paycheck mindset guarantee. They are content with living from paycheck to paycheck and are risk adverse. Employees are not self-starters and have no initiative to make things move on their own. Rather, they prefer to be hired to complete a job and to be told what to do and how to do it. Usually people like this are not of an executive level, as they cannot think of becoming someone beyond who they already think they are.

There are also some people who have traits that categorize them in between an entrepreneur and an employee. Let’s call these kinds of people “employ entrepreneurs”. These are the people who have initiative and are self-starters, however they have to be told to work hard to get rich. Employ entrepreneurs have all the good qualities of what it takes to be an entrepreneur, but they need a little push of encouragement from someone to get them going.

What do I need to know to start a home business?

56 million people are doing home businesses. These people have gone back to their roots and have gotten creative with how to make money. They have created a path for everyone to follow by doing something on their own, without having to be dependent on someone for a paycheck. These are qualities that make someone qualified to be an entrepreneur.

The industry of home business, multi level marketing, direct marketing, network marketing – created more millionaires than any other business out there. Home businesses tend to thrive during recession and during war. They key to success in any industry is TIMING and TRAINING. You need to have both of these things for your home business to take flight.

Now is a perfect time to start a home business because we are undergoing a recession. People are getting laid off and are looking for new opportunities and jobs. Everyone is looking for a way to survive and meet their needs. The abundance of social networking sites today also make it much easier to meet people fast and gain connections.

However, when real estate, big corporations, and .com sites are doing well, home businesses don’t do too well, because people are getting rich working for someone else. Oftentimes working for someone else gives people a sense of security and stability. A lot of the benefits that come with being an employee makes them feel safer and taken care of, compared to having to do all that on your own as an entrepreneur.

But even if the economy is strong, there will always be people looking for ways to earn an extra buck. We will never run out of people who have the desire to find other means to earn money, because everyone has constant needs and wants. There will always be those people who are not content with what they are earning, and are hungry to achieve more.

Who is qualified for home business?

Desperate people are qualified for home businesses. Don’t get me wrong, desperation can be a very positive thing. Desperation gives you the drive you need to succeed. Usually, undergoing hard times is what forces people to be entrepreneurs. Desperate people tend to be more hard working than complacent, lazy people who are comfortable with the employment system. Desperate people are more focused and make things happen, because they have no other option but to succeed. With this mindset, there is no other place for them to go but up.

There are two kinds of desperate people:

1. Stupid Desperate

The “stupid desperate” people think that the home based business industry is a lottery ticket. They think they can just sit around and earn money without having to put much effort into it. However, they forget there is training involved, time invested, and a high chance of rejection. They think they can just sign up for the business an pick up their check without having to do anything. Stupid desperate people are constantly looking for the easy way out and they forget that running a home business requires work, diligence and involves a lot of risk taking.

2. Smart Desperate

A “smart desperate” people are those who would ask: ‘What do I have to do? Show me how to get there, and I will do it’. These people will study the business diligently, making proper calculations. They will go out and work hard for their money and are consistent with their work ethic, diligence and faith in their business. This is the perfect disposition to have in succeeding not only in home businesses, but in any business venture.

Who is cut out for a home business, and who isn’t?

Home businesses are not for people who are lazy or are looking for a free ride. It is not for non-committed people who cannot take ownership or responsibility for themselves. Home businesses are not for people with bad work ethic who constantly whine, and make excuses. People who expect a lot in return for just doing a little bit of work will not succeed in a home business, or any other kind of business for that matter.

Home businesses are for people who have good work ethic. It is for people who are committed, focused, resilient, hardworking, determined, hungry, and of course willing to learn. It would also be an advantage if you are a team player with good people skills. The perks of being an entrepreneur is that you are working for yourself. You work at your own time and pace, and you are your own boss. However, if you have bad work ethic and you lack discipline, you will not make money.

One does not need to have talent to do well in the home business industry. What one needs in tenacity to be focused, resilient and committed. With persistence, self-motivation, self-serving, and being a passionate risk-taker will undoubtedly give you success anywhere you go. Desire or passion is a more important trait to have over talent. Talented people are usually just egotistical, full of pride and are un-teachable. The home business industry needs people who have desire, with a vision and passion to be successful.

You don’t need to have talent to do well in the home business industry.

You can tell if someone is teachable based on their commitment to work hard. One does not even need sales experience to excel at a home business. Those without sales experience usually make phenomenal performances in the home business industry. As long as they are willing to learn, they are humble, and can create leadership and duplicate it are key factors to determining whether someone is cut out for home business or not.

What does it take to succeed in a home business?

There are four different types of people:

1. The Casual Approach – These are people who already have regular jobs and do home business as more of a side line. They treat the business more like a hobby than a profession, and attend to the business only when they can. They are usually people who have no control over their work schedule. It is recommended that these kinds of people should join a business that is more product driven, because it is the product that will do the selling for you. All you have to do is give the products out where ever you are.

2. The Semi-Casual Approach –  These are people who can only allot 5-10 hours a week to their home business. People like doctors, teachers, contractors, etc. It is recommended that these kinds of people should join a home business that either has product focus or business focus. They should also not expect to earn more than four digits.

3. The Part-Time Approach –  These are people who can allot 10-20 hours a week and treat their home business as if it were a part time job. It becomes less of a hobby-approach for them and they will tend to take the business more seriously, resulting in a little more serious profit.

4. The Full-Time Approach –  This is for people who have no day job and treat the home business as if it were their day job. They are the more desperate and more teachable ones who can dedicate 21-40 hours a week to the business. Chances are people like this will be earning six digits if they are diligent enough with their business.