3 Common Challenges and Tips for Running a Home-Based Business

Working from home sounds great. In fact it’s the dream of many nine-to-fivers and nearly every 7:00 a.m. commuter. That’s why a Yahoo! search for “work from home business” yields 2.5 BILLION page results. Who wouldn’t want the freedom to set your own hours, stay in your PJs all day, spend time with the kids, take a break whenever you want, even get a snack or go out to lunch when the feeling strikes? Sounds lovely, doesn’t it? News flash: this is the description of a sick day, not a work day.

For the serious entrepreneur, working from home does have its benefits, and it has its pitfalls as well. Like any success in business, it takes dedication and planning to make it work. Here are three common issues the work-from-home entrepreneur faces, and some tips to help overcome them:

1. Loneliness. While we entrepreneurs are typically independent types, we also tend to be people people. We thrive on interaction with other like-minded adults. So when we suddenly find ourselves home alone much of the time, it can be a struggle. Even those little pleasantries at an office job – “Hey Bob, how’re Marge and the kids?”; “Hi Susan. Love those shoes.” – really do mean something to us. A 2007 study by researchers at the University of Michigan even showed that just ten minutes of small talk improved study participants’ cognitive abilities. It seems human interaction is not only a preference for most of us, it’s actually necessary for us to be at our best. Tip: One great way to overcome isolation and loneliness is to participate in online forums (like the one here on YoungEntrepreneur.com!). While it’s not face-to-face contact, you’ll be interacting with adults who are interested in similar subjects, and you just might form some valuable relationships. Depending on your business, relating with other entrepreneurs in person might come from visiting clients. If not, be sure to attend plenty of networking events. You’ll not only fulfill your need for human conversation, you’re likely to pick up some business leads and great advice too. Check out Meetup.com to find networking events near you.

2. What Others Think. Tell someone who’s never done it that you work from home, and you might be surprised at what they think that means. (See sick day vs. work day example above.) For the most part, who cares what others think, right? Right – except that people (including your own family) sometimes think that because you work from home you have all the time in the world. Time to run errands for them; time to volunteer to head up committees; time to coach little league; and time to chat for hours about how they, “…have to take Sparky to the vet for shots and I hope he’ll be ok, because he just hates to ride in the car. I know! Most dogs love to ride in the car, right?” Tip: When you start working from home, make it clear to everyone you know exactly what that means. Let them know the hours you will be working, and make your expectations clear about how you plan to manage your time. Don’t be afraid to explain to someone making demands on your time that you take your business seriously and don’t have much more “extra” time than someone who commutes daily. If you’re still having trouble with this, use caller ID to avoid all but business calls during your set work hours.

3. Productivity During Work Time. When you worked for someone else, you probably never took a nap at work, no matter what the night before looked like. Of course, taking a nap without losing your job probably wasn’t an option. Entrepreneurs who go to their store every day are self-employed and don’t have a boss to answer to, but they need to open at a certain time and might have customers and employees counting on them to show up and stay productive all day. Working from home though, having to be accountable only to yourself for how you spend your time, can be a challenge for many. For the home-based entrepreneur, it’s likely no one will know if you sleep until noon or catch the last round of the British Open on TV instead of working on your marketing plan. Tip: If you’re not as productive at home as you think you should be, don’t feel bad. This is a very common concern, and no one is suggesting that you’re lazy or that you can’t hack it. You just need concrete goals and a plan to achieve them. Focusing on the reasons you’re in business for yourself in the first place can help you stay on track. Try breaking your long- and medium-term targets down to daily goals where possible. This will give you something to shoot for every day and help you keep your focus. And if you’re having trouble getting your work day started, set an early morning business meeting with a client or colleague as often as possible. You’ll be up and ready more easily, knowing you have someone expecting you. (And don’t worry – you can always TIVO the Open!)

Can StumbleUpon & Digg Drive Insane Amounts of Traffic to Your Website?

StumbleUpon and Digg, two popular social media websites, both serve many valuable purposes.They provide insights into trending topics, stories, and news; they provide users an opportunity to discover what others are talking about; and they create an aggregation of new and popular websites.They are also fantastic for business owners, as they can drive insane amounts of traffic to your website.

StumbleUpon

StumbleUpon is an online community that allows its members to discover, rate, and review web pages, videos, and photos.Users select categories of interest and download a toolbar, which allows them to easily give websites a thumbs up or a thumbs down, write a personalized review, or send them to friends in one easy click.

The more thumbs up a website receives, the higher it appears in the different categories on StumbleUpon.Users can browse through the nearly 500 categories and “stumble upon” pages highly rated by their friends and other community members.Members can also use the “Stumble!” button, which immediately directs them to a random website based on their interests, number of thumbs up, and reviews.

Digg

Digg is a social news website that allows users to discover and share content from anywhere on the web.Users can submit links and stories they find interesting, and vote and comment on links and stories submitted by others.The popularity of a link is determined by users who have voted it up (called digging) or voted it down (called burying) using the toolbar that appears at the top of every user-submitted page.

The most “Dugg” stories, appearing on the homepage of Digg.com, can be filtered by those trending within the last 24 hours, week, month, or year.Users can also browse through the top stories in each of the individual categories offered, or view the top stories in all of the topics.

Eyeballs = Traffic

Driving insane amounts of traffic to your website can be done, and it’s not as hard you might think (but it’s not easy either). Ultimately, the goal is to get as many people as possible to “like” and “digg” your links and pages, improving your rankings and upping the chances for your links to get seen. The more people see your links, the more they will view and rate your content. And the more your content is viewed and rated, the more people will see it. And there you have insane amounts of traffic.

The first step of this process really starts with your content. Great content is essential. If you want people to like and rate your links, the content first has to grab their attention, and then has to resonate with them enough for them to share it with others. Once you have the content figured out, it’s really just a matter of following some simple best practices.

5 Best Practices You Can Put into Play Today

1. “Like” & “Digg” other links and websites, write reviews, and leave comments. The more involved you are in a community, the better your reputation and visibility will be - meaning higher rankings for your submissions. DON’T submit only your links. This is spamming, and I guarantee you will not get far.

2. Personalize your profile. Add a picture and details about yourself - people like to know that there’s a person behind the username.The more people feel they know you, the more likely they are to trust you and what you are sharing.

3. Use tags and keywords. This will increase your chances of getting found by the people who are interested in your subject matter. Keywords and tags are also great food for search engines.

4. Make friends with people who have similar interests. People who share your interests are more likely to be interested in the content you are submitting, which will result in them liking/digging and sharing your content on a regular basis.

5.Spread the word, far and wide…and often. Share your links on other social sites like Facebook and Twitter, and ask your friends to “like” and “digg” your content.Encourage them to share your content with their networks, but don’t forget to reciprocate when they ask the same of you.

It’s Just a Matter of Time
As with all things, achieving the desired results will take time, so don’t give up if you don’t see immediate spikes in your traffic. You’ll have to build relationships and gain trust before things start to really happen for you. Be consistent in your efforts, and your hard work will pay off in the end.

Do you use Digg or StumbleUpon? How about another social news or bookmarking site? We’d love to hear about what’s working for you.  Leave us your comments below…

5 Tips for Adding Affiliate Links without Trashing Your Site

Whether you’re considering adding affiliate links to your site or are already reaping the benefits, it’s important to do it right.  Affiliate marketing programs offer an opportunity to add additional streams of revenue to your website, and can even become a significant income source when implemented properly.  In fact there are plenty of people who have made a business just out of becoming affiliate marketers.  Affiliate programs are also ideal for newer sites with limited traffic.  An advertiser might not yet be willing to pay for placing an ad on your site, but many companies are willing to pay you based on sales and/or traffic you send their way.  

There is a potential downside though.  We’ve all seen sites that look unprofessional, crowded and trashy, with ads and links scattered everywhere.  Not only are they trashing their sites, they’re probably not seeing the results they had hoped for from their affiliate programs.  When implementing an affiliate marketing strategy, keep these tips in mind to balance affiliate opportunities with your site’s integrity:

1. Keep it relevant.  Your affiliate ads should enhance, not detract from your site.  This means picking affiliate programs that are complimentary to the products and services you offer.  Obviously you don’t want to display ads for competing companies, but there are almost certainly companies that offer complimentary products and services to your own, without detracting from your business.  For example, If you are a business coach, you might post an affiliate ad linking to a page on Amazon.com that lists your personal reading recommendations. 

 

If you’re not retailing books on your site, this won’t compete with your services and will add value for your clients.  Plus, you’ll earn a commission anytime someone you refer makes a purchase on that page, as well as any other page on the affiliate’s site.  On the other hand, an ad for a dating site, while it might pay a higher commission, will cause your site visitors to question what your business is all about.

 

2. Play favorites.  We all have our favorite retailers, services and resources.  Many of these offer affiliate programs, allowing you to capitalize on a recommendation you would make anyway.  The advantage to this is that you’re referring people to businesses you’re familiar with and with which you already have a relationship.  If your favorite office supply store is Staples, for instance, you can become a Staples.com affiliate and get paid when your site visitors buy from their site.  Staples is happy, you’re happy, and you know you’re referring your visitors to a company you trust.  It’s the very definition of a win-win-win!

 

3. Consider your audience.  You know who’s visiting your site, right?  And hopefully you have a good idea of their wants, needs, and buying habits. (If not, that’s a blog for another day.)  One way to avoid trying to be everything to everyone – which never works out well – is to fill some of your visitors’ needs by sending them to sites with which you have an affiliate relationship.  Again, relevance is important.  Just make sure that the sites you’re referring people to are relevant to what you offer and to what your visitors expect from you. 

 

4. Less is more.  Website visitors prefer clean, uncluttered sites that are easy to navigate.  If your site is packed with ads and affiliate links, it will turn off your customers.  That doesn’t mean you have to limit your affiliate relationships though.  Ad management software, like that offered by AdButler.com makes it possible for you to rotate ads, even tracking visitors so they don’t see the same ad over and over.  This way you can limit the amount of space dedicated to ads on your site without limiting your opportunities.

 

 

5. Play the Numbers.  It should be no surprise that all affiliate programs are not created equal.  Some offer a percentage of sales, some offer a flat fee per sale, and still others offer a small commission just for qualified leads.  For example, the popular jobs site, Beyond.com’s affiliate program pays out $.60 just for a referred visitor signing up for a free account.  Now, sixty cents obviously isn’t much, but if you have a site that is likely to drive a lot of traffic their way, it can add up to a nice little extra check every month.  Whatever affiliate partners you choose, be sure to check their program’s performance.  Without going into details about click through rates (CTR), and earnings-per-one-hundred-clicks (EPC), just know that it’s important to evaluate each affiliate partner the same as you would consider any business decision.

 

Go Make it Happen

If you haven’t yet delved into the world of affiliate programs, hopefully now you’ll be able to do so with confidence, knowing you don’t have to compromise the look, feel and integrity of your site while adding some extra income to your business.  And if you’re already an affiliate marketer, hopefully you’ve picked up some information to optimize your efforts.  Either way, be sure to share your thoughts, feedback and ideas.

 

If you’re thirsty for more information about affiliate opportunities, Commission Junction is a great place to start.  As the world’s leader in affiliate marketing, their online learning tools (CJU) are second to none, and surprisingly unbiased.  They also offer thousands of affiliate programs in every conceivable category, so you’ll find plenty of opportunities to maximize your affiliate efforts.

 

Do you have additional thoughts, suggestions, or advice for would-be affiliate marketers?  Please share your comments below. 

Becoming An Internet Entrepreneur; Your Dream, My Reality.

A lot of people think that you need some significant capital investment in order to start something great. This could not be further from the truth. Richard Branson & Robert Herjavec are two prime examples of entrepreneurs who started with nothing and become giant successes. Check out http://www.youngentrepreneur.com/self-made-magazine/ for Richard’s story and http://www.ukpreneur.co.uk/1636/robert-herjavec-rags-to-riches/ for Robert’s.

Two things that I have learned from them and other successful entrepreneurs is that determination and consistency is key. You can have a great idea, but if you do not jump in with both feet you will be set up for disappointment. If you are starting a blog site, work at it daily, network, write posts, get other people to write posts, focus on providing quality content & keep doing these things even if you do not see significant results right away. Stay consistent! I have made mistakes in the past where I tried an idea and only worked at it part time. I became frustrated that nothing was coming out of it so I gave up. I have learned my lesson and now I do not start something unless I give it 110%.

Find your niche and be determined to make something out of nothing. It is about your mindset and your drive. If you are not passionate about your niche, you will not be motivated to stay consistent and your dream of becoming an entrepreneur will slowly become just that, a dream.

There are so many resources out there to aid in your success. Use them. Join forums, visit your local chambers of commerce, read blogs and simply become active in the industry that you are in (or want to be in). It is amazing where some ideas can come from. By being active rather than passive you will open more doors and allow your idea to come to you, rather than the other way around.

For me, it was about figuring out what I loved to do and how I can do what I love everyday for a living. So, I love to sell. It may not be everyone’s passion, but I truly enjoy the hunt and the close. Marrying my love for selling and my passion for anything Internet related, it made sense for me to become a website broker. I learn about different online industries and speak with people from all over the world on a daily basis. It’s fun, it pays the bills, and it allows me to be my own boss (something everyone who wants be an entrepreneur dreams about). I always enjoy speaking with like-minded individuals, so feel free to call me if you would like to pick my brain.

Until next time…

This is a Guest Post by Michael Koral, a 26-year old Canadian entrepreneur with experience in a variety of industries, including copier sales, advertising and custom web design sales for MenuPalace.com, and web development, SEO, & Website brokerage at wesellyoursite.com.

Marketing Outside the Box

Want to create a buzz and get people talking about what you’re doing? How about doing the opposite of what people expect. Many people call this thinking outside of the box and this is where your right brain can definitely come into play. This is where you should start saying “why not” instead of “don’t go there.”

If you feel that your marketing message is constrained by certain parameters, ask yourself whether those parameters are real or imaginary. How far could you push the envelope without overstepping, how creative can you be without it backfiring? Whenever you see a viral video or hear of a highly successful “off the cuff” marketing initiative, try and take time to understand how the initiators formed their thoughts. Put yourself in the role of the most highly paid executive on Madison Avenue, famous for constantly thinking outside of the box and see how you could enhance your position.

If you are in a niche not known for its jocularity, inject some! Maybe you’re an accounting service provider – create a video about something funny and lighthearted around tax time.

Surprise all your clients and prospects by giving something of great value to them at no charge and also on a regular basis. Establishing yourself as the experts is, as we know, a smart move in the world of Internet marketing. Look into your crystal ball and see where the next growth area may be in your particular niche and then go out of your way to create a meaty white paper or newsletter.You will place a resounding stamp on the subject and put yourself ahead of the game.

Remember that not all journalists have their finger on the pulse and many of them have so many other projects going on that they’re more than willing to receive expert opinion on any matter or valuable insight that you could provide them. Use the power of public relations to your advantage. Once again, anticipate questions that arise and how you could link your niche to any hot, trending, newsworthy activities or events.

While you are feeling in a global and giving mode, consider hosting your own virtual tradeshow. This idea is emerging, just as the power of the Internet is increasing exponentially. As exhibition or attendance at any tradeshow can be costly and time-consuming, attendance at the virtual tradeshow can take place from the security of the office or a comfortable home. If you set up and host a virtual tradeshow within your industry, you can achieve a considerable brand recognition and some additional earnings potential as well.

If you are involved in Internet marketing and the provision of online services, you may well not have considered the gold mine that is literally outside of your door. Bricks and mortar operations can all benefit from online exposure and rather than focusing on marketing your products online all the time, approach some of the more than 50% of off-line businesses that have no web presence whatsoever.

Have you seen any great ‘outside the box’ marketing messages?

Matthew Toren

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