It is hard to blame retailers for their skepticism. In the past 5 years they have been bombarded with changes to their payment card acceptance networks that have come at a significant cost and provided little additional value to retailers. The mention of a term such as PCI, EMV, contactless or interchange rate is enough to send a chill down the spine of small shop owners and CIO’s alike. The problem is that retailers view these changes as individual challenges rather than an opportunity to revaluate their approach to retail payments, increase the security of their store systems and boost their bottom line.

Infinite cards – infinite fees.

The interchange rate refers to the percentage amount of each card based transaction that a retailer must pay for the right to accept a specific payment card brand. The interchange rate is tiered, with rates for standard cards ranging from 1.6% to 1.9% of each transaction and rates for premium cards significantly higher at 2.3% to 2.5%. It is the influx of these new premium cards that has increased the average monthly cost of credit card processing by 10% to 20% for many retailers. According to a study by investment firm Morgan Stanley, interchange costs in the United States will reach $32.4 billion by 2010. Merchants around the world have complained of their inability to negotiate these rates and in several geographies including Canada and the United States they have taken their concerns to the government in an appeal for increased regulation of the entire payment card industry.

In response to merchant concerns Visa and MasterCard have pointed to the wide variety of payment options available to consumers and stressed the fact that accepting payment cards is a business decision, not a requirement. Merchants argue that payment cards have become an industry standard to the point where they must accept multiple payment card brands or risk losing business. Merchants that choose to accept payment cards are bound by a card acceptance contract which mandates that any merchant who wishes to accept a specific credit card brand must accept all cards issued by that brand. The card acceptance contract also forbids merchants from setting minimum dollar amounts for payment card transactions or imposing surcharges on certain types of cards. In effect merchants are paying more for card processing, with no added value and there is absolutely nothing they can do about it.

Who does PCI really protect?

A second blow to retailers came in the form of new data security best practices. The Payment Card Industry Data Security Standards or PCI DSS is a set of 12 rules designed to protect card holder data at the point of sale and within a retailer’s enterprise systems environment. This standard was created in response to a growing trend in high profile data breaches, such as those with T.J. Maxx and Hannaford Bros. Co., where a combined 50 million account numbers were stolen. According to the Ponemon Institute benchmark study, “2008 Annual Study: Cost of a Data Breach” in the United States the approximate cost per compromised account number to U.S. companies is $231. If you were to apply simple math to this research study, the value of the T.J. Maxx breach is over 10 billion dollars without consideration for fines and lost business.

It is obvious why the payment card industry is motivated to put standards in place to prevent data breaches of this magnitude and at first glance PCI regulations appeared to be a giant step forward in the security and protection of card holder data but as the initial excitement has worn off, the PCI standard has revealed itself for what it really is, a method for card issuers to boost their bottom line while transferring the responsibility and risk of card payments to the merchant.

This point became clear in May 2008 when Heartland Payment Systems, a PCI DSS certified organization, fell victim to a data breach that exposed the details of up to 100 million accounts to cybercriminals. Despite Heartland’s certification as PCI DSS compliant and a successfully completed audit by a third party PCI examiner they were condemned by much of the payment card industry. In the wake of the data breach Heartland was immediately removed from the list of certified PCI compliant organizations, forced to recertify and had heavy fines imposed upon them.

This served as a lesson for many merchants who were lead to believe that PCI compliance was the end game rather than part of a much more intensive and far reaching data security program. Merchants were shocked when they discovered that the huge investment many had made in order to achieve PCI compliance did not guarantee their immunity from an attack or a breach. Adrian Phillips, Visa’s Deputy Chief Enterprise Risk Officer refused to acknowledge Heartland’s PCI compliant status and stated that “[Visa has] never seen anyone who was breached that was PCI compliant. The breaches that we have seen have involved a key area of non-compliance.”

Where is the ROI for EMV?

EMV is global standard for credit and debit payment cards based on chip card technology. These chip cards, or smart cards as they are also known, contain an embedded microprocessor and the microprocessor contains all of the information needed to use the card for payment. The chip is protected by various security features and is a more secure alternative to traditional magnetic stripe payment cards.

After enduring rising interchange rates and costly PCI compliance initiatives only to be punished with increased risk and responsibility in regards to card payments many retailers have shown a steadfast resistance to EMV migration. However, this resistance has not prevented more than 100 countries from taking the plunge in an effort to stem credit card fraud. The United Kingdom, which announced their adoption of the standard more than 5 years ago, leads all markets in EMV migration and therefore provides the greatest amount of insight as to how EMV will perform relative to the initial assumptions underlying the transition.

After the U.K. migration deadline of February 14th 2005, the U.K. payments association APACS reported a remarkable reduction in fraud for the year end of December 2005. Fraud due to counterfeiting and lost or stolen cards was reduced by U.S. $110.5 million dollars which was a decline of as much as 31%. This fact alone appears to validate the primary intent of this new technology but as with previous changes in the retail payments environment the benefits of this new standard would be experienced by issuers and associations while a large investment would be required on the part of the merchant. In order to avoid compounding this crisis issuers and acquirers have been careful not to release cost estimates of their own migration efforts and have simultaneously released studies that ignore or largely underestimate the costs for integrated merchants while justifying the migration based solely on the significantly lower migration costs of merchants with stand alone or non-integrated terminals.

Is it all doom and gloom?

While reviewing the vast library of negative press surrounding the payment card industry it is easy for many individuals and organizations alike to acquire a negative, one-sided view of the current retail payments landscape. In fact, the existence of many lobbyist groups is closely tied to their ability to slant various studies and statistics on the topic in this way. It would however be premature to end our analysis here. As with all good arguments, there is an alternative view point that paints a drastically different picture, one of a highly successful payments medium that supports the global economy and steadfastly focuses on security of its billions of subscribers.

Supporters of regulatory intervention in the structure of interchange fees typically ignore an analysis of the evidence in the Australian market. Since 2003 the Reserve Bank of Australia (RBA) has implemented a series of regulations on their national payment card industry. Most notable among these regulations is the reduction of interchange fees by approximately 50%. The merchants and lobbyist groups which argued for a reduction in interchange rates promised that positive benefits would be experienced by consumers, the same fundamental argument that similar groups have promoted in Canada and the United States. Official reports on the state of the industry after 5 years of regulation starkly contrasted this initial assumption. The RBA’s regulations have resulted in higher cardholder fees, reduced the value of rewards programs and eliminated the incentive for card associations and issuers to invest and innovate. In fact there is no evidence that these losses have been offset by price reductions or an improvement in the quality of retailer service.

It is clear that the reduction in interchange rates that merchants seek will not come as a result of government interference in an industry that does not exhibit clear market failure, instead it will come as a result of operational changes that promote increased efficiency within that industry. For decades the card associations have footed the bill for fraudulent usage of their payment networks. With the introduction of mandatory data security standards the payment card industry is taking a long overdue step in stemming fraud due to insufficient security measures on the part of the merchant. Until standards were introduced merchants had little incentive to secure cardholder data at all and many kept payment card details in completely unencrypted files. As cybercriminals became ever more cunning the retail industry focused primarily on reducing the theft of hard goods and largely ignored the growing threat to cardholder data. While it is true that the fines levied due to non-compliance are exorbitant and are more likely to bankrupt a retailer rather than punish them, it forces retailers to individually take responsibility for their security deficiencies rather than divide the cost of compromised accounts amongst the entire industry in the form of interchange rates. In fact if PCI DSS is able to reduce payment card fraud by the amount that card associations promise, the savings realized will be far beyond those experienced as a result of mere government intervention.

The EMV standard could have a similar effect on interchange rates. While globally EMV migration is still in its infancy, its ability to reduce fraud is already apparent. Card associations have even begun to address the unequal cost/benefit distribution through a variety of intra-systems transfers that have been designed as an incentive for individual parties to take action. Chief among these incentives are interchange subsidies and liability shifts. The card associations have proved adept in utilizing these intra-system transfers in order to achieve a critical mass of support from a group of stakeholders whose business case for EMV can be significantly better than the business case for the average merchant.

If payment card fraud is analyzed on a higher level, outside of retail payments and the association-issuer-merchant dynamic, taking billions of dollars a year out of the hands of criminal organizations is a positive benefit of EMV and PCI DSS that everyone can agree upon.

How long can the U.S. hide?

The United States is the largest country yet to announce an EMV migration timeline. Despite the fact that EMV offers greatly improved security over magnetic stripe, banks and merchants have shown little interest in footing the bill to distribute the cards and install the necessary readers at the point of sale. Some analysts have warned that the financial industry’s reluctance to adopt EMV in the United States will make the U.S. payment system a target for international fraud as criminals back away from markets with tighter security.

Since EMV migration in the U.K., fraud abroad has increased 11% as criminals look to markets that have not yet adopted EMV technology in order to exploit stolen magnetic stripe card data. At U.S. $380 million per year fraud abroad accounts for 38% of total card fraud losses on cards issued in the United Kingdom and fraud on U.K. issued cards in the United States has increased 181% since the U.K. adoption in 2005. By comparison, France which was the largest target for U.K. fraud abroad in 2005 adopted the EMV standard and has since seen a reduction in fraud on U.K. issued cards of U.S. $9.2 million per year, or 48%, over the same time period.

Mexico and Canada are set to complete their EMV migration projects in December 2009 and October 2010 respectively leaving the United States sandwiched between two EMV complaint nations. With EMV projects already complete in Europe, Asia, Latin American and South Africa, the United States will be the final developed market yet to implement the international standard. While losses thus far have been written off as a cost of doing business, fraud is expected to increase at an unprecedented rate once EMV adoption is complete in every other geographic region. It is therefore only a matter of time until the cost of card fraud will justify the expense of upgrading the enormous card-acceptance infrastructure and the United States will implement the EMV standard.

Chip and PIN is coming but contactless is here.

Another possible source of momentum for the U.S. migration is the growing acceptance of contactless payment cards. While it may initially appear that contactless and EMV are moving in opposite directions this is not the case. In fact EMV is a security protocol that works with contact and contactless chips. Visa is already using EMV specifications in their contactless payWave technology equipped cards that are accepted in the U.S., Canada and the United Kingdom. Merchants have been eager to adopt this technology because of the dramatic improvement in customer throughput that contactless payments provide.

U.S. market demand for EMV compliant chip cards is growing from consumers and issuers which are two segments of the industry that have not traditionally led the push for adoption. Demand for EMV chip cards is increasing from U.S. consumers as they more frequently encounter issues using their cards when traveling abroad and issuers that are keen to stay “top of the wallet” in the extremely competitive U.S. card issuing environment are looking to EMV as a new means to differentiate themselves.

Paying with the wave of a cell phone.

The ability to pay for products at the point of sale by simply waving a cell phone near a reader device represents a new payments frontier in North America even though the technology has been in use in Japan since 2004. The NFC standard employs similar technology to that of contactless cards and will enable a wide array of mobile commerce services for cell phones, such as contactless payments and ticketing. Stakeholders in North America have demonstrated a strong interest in deploying mobile payments and are now actively implementing pilots. These pilots have shown that consumers find mobile payments to be both functional and convenient. Results which were not surprising as analysts have widely speculated that NFC will be an easy sell to consumers, who have already demonstrated a fondness for contactless payments.

Mobile payments implementations will allow merchants to further capitalize on their contactless payment infrastructure and offer immediate benefits in the form of faster payment transactions and improved customer convenience. Issuers and card associations will benefit by offering a new, differentiated payment service as well as increasing transaction volumes and extending their respective brands. These benefits coupled with the fact that NFC phones will almost certainly utilize EMV standards only emphasize the case for the impending EMV adoption in the United States.

Conclusions

The problem for retailers with the adoption of so many new payments technologies in a compressed time frame is that they have chosen to view each technology as an individual challenge and the tactics that they have taken as a result have been largely reactionary. Viewed as individual projects it is difficult for retailers to imagine a return on investment sufficient enough to warrant their migration to these new technologies. The point they are missing is that PCI, EMV, contactless and even NFC are not separate projects but rather a single opportunity to re-evaluate their entire approach to retail payments. Instead of augmenting obsolete bank code, retailers should instead consider implementing a modern retail payments application that is modular and flexible enough to incorporate solutions to both today’s pains and tomorrow’s opportunities. This new wave of applications that is already available in the marketplace also incorporates new functionality that allows retailers to easily transfer from one acquirer to another, effectively altering the balance of power and providing the merchant with the much desired ability to negotiate their interchange rates.

The winners and losers in the constantly evolving retail payments landscape will be determined not by one’s position as an association, issuer, acquirer or merchant but by the decisions and tactics taken in the face of the monumental changes already underway. While some retailers continue to debate or deny the merits of PCI DSS and EMV others have already leveraged these standards to transform their organization for the better.

Between the family, friends and neighbors who call or come by, and the telemarketers who insist on ringing your number off the hook, getting through the workday can be a real challenge.

When you introduce children into the home office environment, your productivity and patience can be seriously tested.

For example, right now my three-year old daughter is pulling on my shirt and begging me to read her a story. Clearly, Im in the middle of something important here, but how can I say no to those eyes? Ill be right back…

Ok, that wasnt so bad was it? Shes happy, Im happy (having bonded with my daughter) and now Im back to continue my conversation with you Whats the lesson here? Flexibility is a major key to balancing your home business priorities with your familys needs.

I can tell you from first-hand experience that maintaining a deep level of concentration on work in a home business for long periods of time is next to impossible. Naptime does offer some reprieve, but any break from the kids is usually short lived.

Even with older children, summertime introduces new challenges with kids running in and out of the house all throughout the day.

I would like to share with you some of the tips I have discovered to help manage your home office with children in your midst. Since children of different ages pose different challenges, I will present my tips in terms of age groups.

OLDER CHILDREN AND TEENS

We will look at older children first since they pose the least challenge to our work productivity.

Children, who are old enough to understand the idea of schedules and chores, are old enough to understand the needs of your home business. Explain to your children that you do your work at home so that you can be near them when they need you. But also be sure they understand that you must do your work so that you will have the money necessary to keep your house, feed the family and to provide them with money for entertainment.

Once your children understand the necessity of your work, then outline a work schedule and explain it to them. Do make sure they understand that emergencies are definitely an acceptable reason to interrupt your work. Then make sure they understand that between hours x and y, you will be doing work — and then hold them to respecting your schedule.

INFANTS

Infants will never understand your needs for work. But fortunately, babies do well under a schedule or routine. Instead of expecting your child to work around your schedule, schedule your work around the needs of your baby.

It is simple. Babies eat, sleep and poop. Sometimes they play. Fortunately, babies sleep more than they do anything else.

Naptime offers the best advantage for getting your work done. Get your baby into a routine of eat, sleep and play, and you will experience unexpected levels of productivity.

TODDLERS

If you have a toddler running around the house while you are operating your home business, then you may find that your hair turning gray or disappearing altogether. But, gray hair is a sign of character, right.

I am venturing to guess that the person who devised the door lock for the inside of the house did so because he had toddlers in his own home. Inside door locks should only be utilized when you are making that important phone call and your toddler is screaming for your attention. At all other times, your door should remain unlocked with your door open.

Develop a routine with your children for meal times, naptimes, and play times. Work these times into your work schedule and adhere to them. If you fail to keep appointments with your children, your children will have less respect for your work and do more to prevent you from the completion of your work.

Don’t be afraid to let your children sit in your lap while you are working. It helps them to feel wanted and it helps them to be a part of your daily life. There are times when it is okay for them to be sitting in your lap while you work, and at other times you need them out of your lap. Don’t be afraid to tell them to get down and go play or read a book so that you can resume your work.

Permit your children to have their toys in your office. Often they will sit contently and play while you work. Just knowing you are near is enough to keep them happy.

Be prepared to take an hourly break to deal with your toddler. Try to do potty breaks at your hourly break and to do drink refills. This can help your child grow into a routine that will work well with your home business. At each break, spend a few minutes with your child giving hugs and kisses and talking with your child about what he or she wants to talk about.

Toddlers don’t always do well with the routine, so be prepared to take a few minutes when needed to give the attention that your child so desperately needs in the moment.

IN CONCLUSION

I hope these tips serve to help you in the challenge of operating a successful home business.

My home business permits me to fulfill my financial obligations *AND* see my children grow up. I would never contemplate trading my home business for another kind of business. Even with the added challenges of dealing with toddlers in my home office, the upsides far outweigh the downsides.

Growing my own home business with children around has definitely given me a new respect for all people who successfully run a home business with kids in the work environment. I tip my hat to you… You deserve it!

For most of us Internet entrepreneurs the reality of starting our own home business on a full time basis is not a reality.

With financial and/or family commitments a priority it is hard work to get a home business off the ground and nurture it into a successful money making venture.

Working a job at the same time is a necessity for 99% of us just starting up.

Where do you find the available time? How do you reach a balance between your home, your family, your job AND your home business?

These are very elusive questions aren’t they?

I have compiled a list of ten exclusive tips to help you and others just like myself.

These are tips and advice, which I have found to be beneficial in helping me to reach a balance and also to keep my sanity, when at times I have been ready to toss the home business aside as it just seemed too hard to do it ALL…..!

1) Write down a list of main goals you want to achieve with your home business. Eg: Financial freedom, More time with family. Print this out and pin it up where you will read it each day. This will keep you motivated and remind you why you stay up all those late nights!

2) Choose a home business that you will put your heart into. If you have the desire to succeed then you will succeed. If you enjoy your home business then making room for it in your life will not be a chore.

3) Set a quantity of hours to devote to your home business each week. Be realistic. You may only have 30 minutes or one hour a day available on a regular basis. If you manage to spend extra hours – well done, and you will feel proud for doing so.

4) Write a weekly TO DO list. One for business and one for home. Be realistic. This will give you activities to work towards. Check them off as you complete them. You will feel a sense of achievement.

5) Establish a separate business work area in the home. If not possible make sure to set aside time when you have privacy. Your time will be spent much more efficiently with no interruptions.

6) Be patient. A successful home business will not blossom overnight. Be prepared to put in some hard work for the first months to get things up and running. You will see results.

7) Reward yourself. If you have been putting extra hours into your home business take the day off. Spend time with your family and relax. You deserve it.

Enjoy time out. Life can be hectic and overwhelming. Add to that starting a home business as well as keeping a full time job! It is essential to have time out for yourself.

9) Invest in conveniences. For example: For the home business a faster Internet connection or time saving software. For the home an answering machine or a regular cleaner / babysitter. What can be done to free up some of your time and resources.

10) Family comes first. Do what you need to do for your family each day before anything else. They are your life and once they are content then you will feel okay with spending time on your home business.

I am positive these 10 exclusive tips and advice will be of benefit to you. Please feel free to share them with others.

Success to all working, Internet entrepreneurial mothers!

8 Cases That Qualify For A Lower Mortgage Payment:

• Mortgage Reduction #1: This is a property in Santa Rosa California. Purchase price $750k, current market value $380k, 1st (ASC) balance $602k, 6.5% adjustable, monthly payment $3256, 150 days late. 2nd (Chase) balance $92k, 8.5% fixed, monthly payment $720, 150 days late. They qualified for a modification to 3.5% with a lower monthly mortgage payment of $1755 for 10 yrs on the 1st and 3.5% with a lower payment of $268 for 10 yrs on the 2nd, a combined savings of $1951 a month.
• Mortgage Reduction #2: This is a property in Missoula Montana. Purchase price $167k, current market value $197k, 1st (B of A) balance $147k, 6% fixed, monthly payment $921, 0 days late. No 2nd. This home owner qualified for a modification to 4.2% with a lower payment of $513 for 5 yrs, a savings of $407 a month.
• Mortgage Reduction #3: This is a property in Fulerton California. Purchase price $350k, current market value $330k, 1st (Met Life Home Loan) balance $362k, 6.87% fixed, monthly payment $2552, 0 days late. 2nd (First Horizon) balance $89k, 8.75% fixed, monthly payment $719, 0 days late. They qualified for a modification to 3.87% with a lower monthly mortgage payment of $1167 for 10 yrs on the 1st and 3.87% with a lower payment of $288 for 10 years on the 2nd for a combined savings of $1814 a month. Additionally a balloon payment was coming due that is put off for 10 yrs.
• Mortgage Reduction #4: This is a property in Lawrenceville Georgia. (First of two properties by the same owner. This one is the primary residence and the next will be the income property) Purchase price $252k, current market value $285k. 1st (B of A) balance $383k, 6.75% fixed, monthly payment $1620, 0 days late. 2nd (City Group) balance $95k, 8.25% fixed, monthly payment $514, 0 days late. This couple qualified for a modification to 3.75% with a lower payment of $1197 for 10 yrs on the 1st and 3.75% with a lower payment of $297 for 10 yrs for a combined savings of $640 a month.
• Mortgage Reduction #5: This is the investment property from the owner above located in Snellville Georgia. Purchase price $163k, current market value $165k, 1st (ASC) balance $111k, 8.25% fixed, monthly payment $1166, 0 days late. 2nd (First Horizon) balance $47k, 14.25% fixed, monthly payment $578, 0 days late. This couple qualified for a modification to 5.25% with a lower monthly payment of $485 for 10 yrs on the 1st and 5.25% with a lower mortgage payment of $205 for 10 yrs on the 2nd for a combined savings of $1052 a month. This rate reduction turned this investment property from a negative cash flow to positive cash flow. Both properties combined total a savings of $1692 a month.
• Mortgage Reduction #6: This is a property in Manassas Virginia. Purchase price $130k, current market value $262k, 1st (B of A) balance $276k, 5.5% fixed, monthly payment $1659, 30 days late. No 2nd.  This home owner qualified for a modification to 3.7% with a lower mortgage payment of $852 for 5 yrs on their 1st. This is a savings of $807 a month.
• Mortgage Reduction #7: This is an investment  property in Clearwater Florida currently un-rentable. Purchase price $98k, current market value $60k, 1st (PHH Mortgage Services) balance $91k, 8.895% fixed, monthly payment $742, 0 days late. This owner qualified for a modification to 5.895% with a lower monthly mortgage payment of $447 for 10 yrs. This is a savings of $295 a month.
• Mortgage Reduction #8: This is a property in Rancho Palos Verdes California. Purchase price $1.2mil, current market value $1.5mil, 1st (B of A) balance $1mil, 6.25% fixed, monthly payment $6500, 210 days late. 2nd (B of A) balance $125k, 6.5% fixed, monthly payment $1000, 30 days late. This home owner qualified for a rate reduction to 4.45% and a lower payment of $3708 for 5 yrs on the first and 4.45% with a lower monthly mortgage payment of $463 for 5 years on the second for a combined monthly savings of $3328.

Knowing we want to have a business is only the first step in starting. Many of us
then struggle deciding the type of business we would like to start. We might brain storm the Internet for ideas but no idea seems to be what we really want. Does this sound like something you have gone through at least once in your life?

Actually liking the type of business you choose is the key to success with your home based business venture. Be sure to pick a home business that you’ll enjoy waking up for every morning and can’t wait to come back to day after day. Don’t pick something which you might have trouble being motivated to keep on doing in the future.

Here are a few ideas which can ease the process in the beginning of starting your home based business.

From selling e-books on the Internet, to making soaps for sale at various specialty
stores or boutiques, profits are out there to be made by filing the NEED for a
specific NICHE. You can literally choose from hundreds of lucrative home
business ideas for every type of personality and start up costs desired.

One simple type of business to start is a Franchise based business.
Franchises offer a solid money making business which has already been
established or operated under an authorization to sell or distribute a company’s
goods or services in a particular area.

Franchises usually are a simple pre-packaged money making ideas, but usually call
for large start up costs. Many franchises such as McDonalds charge over a million
dollars to get in the door. With those type of large start up costs, very few people
have that type of money to start their own company.

Once you have agreed to all of the franchise guidelines, you must follow many
different rules and regulations set out by the franchised company prohibiting you
from branching out on your own.

For those who want to branch out on their own, you might want to start a
home based business which is already a hobby you enjoy. For example, if you
are a fitness guru, a home training consultant service just might be the ideal home
business for you to start.

Perhaps traveling is your passion and you’d like to start your own
home based traveling service or travel agency. Take something that might be a
hobby for you and turn that into a creative home based business. Both of the above
examples can be successfully run from the comfort of your own home.

When brainstorming new ideas for your future home business, keep
in mind any successful endeavor must provide a product or service that others will
actually purchase and keep coming back for more. Your home based business will
be well on its way to success by satisfying the needs of your target market.

Here are some suggestions for home business ideas that might
help you decide on a suitable home based business.

1. Turn your hobby in a lucrative business.

2. Use open markets and flea markets to sell your goods.

3. Sell your crafts and jewelry, soaps or gift baskets.

4. Provide a delivery service for laundry or groceries.

5. Provide a dog walking and kennel vacation service.

6. Pet grooming service and dog sitting.

7. Provide a shuttle service for non-drivers.

8. Creative a service or company for your neighborhood or community.

9. Join a multi-level marketing business.

10. Floral services for hospitals.

11. Vending machine service.

12. Selling video game machines.

13. Making gift baskets for special occasions.

14. Windshield repair service.

15. Business card designer.

16. Website design services.

17. Web hosting services.

18. Pool cleaning service.

19. Translator/typing service for documents.

20. Interior designer and decorator.

21. Gourmet catering service.

22. Cosmetic consultant.

23. Extreme sports enthusiast.

24. Personal fitness trainer.

25. Travel guide.

26. Dating/companion service.

27. Affiliate program marketer.

28. Disaster relief forum.

And the list goes on….

Any home based business has the potential to explode into a profitable business.
The demand for your home business niche determines whether or not your business
will be slow and steady or heavy hit with clients.

Whether or not your business is slow or thriving, you will have to make the
necessary choices in order to keep up with the demand. Make sure you enlist the
necessary tools to make your business a profitable one as well as one that keeps
you coming back for more day after day.

Best of luck with your new endeavors!

Work home business resources are available to help you decide what type of business you are legally going to form. Is your business going to be a sole proprietorship, a partnership with someone else, or do you wish to be a corporation? A corporation is a legal entity created under law by the state government in which the corporation will do business. A corporation can enter into contracts, be sued, and do the other things necessary to conduct business. They pay taxes differently than individuals and in many cases; this is an advantage. Incorporation can be a complicated process. Don’t try to incorporate by yourself. A work home business resource such as a good lawyer can may this process easier.

For basic bookkeeping and financial considerations, seeking an accountant is a good work home business resource. There are also web-based accounting services you can use to help you set up your books and record sales for tax purposes. Some of the online work home business resources in accounting you can use are: eLedger, QuickBooks for the Web, and ePeachtree. Basic services that these businesses provide includes double-entry general ledgers, invoicing, accounts payable, accounts receivable and financial reporting

Another work home business resource that can help you establish good promotional work is a professional in sales and marketing. The expert advice you can receive from a marketing professional is well work the added expense. The success of your business depends almost entirely on its quality and value. If no one knows about your business, they will never get to use it. Check with advertising companies and web site and find out more about advising opportunities and advice you can receive. On the Internet, many articles are available for free. The Internet itself is an excellent work home business resource.

Some people are making extra money to pay for extras, while others have turned their home business into a primary source of income. Some people use their home business as a diversion, to have fun and earn a little “pocket money.” The important thing is that they are taking positive action, rather than waiting for a financial disaster. They are setting the stage to improve their lives – something you can do too.

Multi-level marketing, mail order businesses and other in-home businesses are very popular. If this way of earning extra income appeals to you, by all means check out the possibilities. These are not the only ways you can operate from home. There are many ways of getting started in your own home business that you should investigate.

Some other ways of getting started in your own home business include on-line businesses such as a typing service, ghost writing for others, creating ad copy, dating services, credit counselling service, producing how-to DVD’s or videos on various topics, preparing resumes, etc. In reality, the options for getting started in your own home business are almost unlimited.

One of your first tasks in getting started in your own home business is to do some market research. Discover for yourself how many competitors you will come up against. Then take a look at how many potential clients would be willing to pay for your services. In other words, define your market and identify your potential clients and customers. After you check the pertinent data, discuss your plans with other knowledgeable people and get their ideas and suggestions. Your next task will then be to develop a detailed business plan. The more details you write out the better – cover all your bases as to just how you’ll do everything that should get done, and the time line for doing them. You want to make it as easy as possible to be successful.

Your business plan should show how much money, if any, you will have to invest, your plan for getting the word out that you’re open for business, the exact procedures you plan to use, and how much time you will need to invest. Avoid “jumping in feet first” without first getting all the facts and figures together to avoid finding out that the time and costs involved are too much, which could lead to failure and disappointment. It will pay off in the long run to develop your plans and outline them in a written report prior to getting started in your own home business. Your chances of success will be greater if you know what to expect before launching your home business.

After you have identified your target market and know who your potential customers will be, how you’re going to get your service to them and you’ve identified the time and money it will take to run your business, you’re ready to put your plans into motion and get started with your own home business.

Fifty million home-based businesses will be in operation by 1997, according to Link Resource’s National Work-at Home Survey. All around the country, people who want more control over their lives are starting home businesses In New Orleans, Rick Hart’s home based cajun Cargo ships seafood nation wide. In Palatine, Illinois, Stephaine Heavey works from home designing and selling original patterns for fabric dolls. And in Dallas, Lisa McElya published the Dallas Party & Event Planners Guidebook from the entire first floor of her two-story home. These three people are living the new American dream of owning a business, but avoiding the high overhead and start-up costs of a commercial location. If the idea of working from home is appealing, but you don’t know where to begin, here is a step-by-step guide.

STEP #1 DECIDE WHAT PART OF THE HOUSE TO USE

Select an area away from family activity. The perfect space is a separate room (or perhaps the garage), but any area will do, if it can hold all the business supplies and equipment, and also provide enough work space for desks, tables, or counters.

STEP #2 DETERMINE HOW MUCH TIME YOU CAN SPEND ON THE BUSINESS

Many people start a home business on a part-time basis while raising children or working outside the home. Others start full-time when family and finances allow. However you begin, figure out how may hours per week you can devote to the business Make a weekly chart of your activities, examine it, and determine where the business fits. Don’t assume you have time and find out later you don’t.

STEP #3 DECIDE ON THE TYPE OF BUSINESS

Make a list of things you like to do, your work and volunteer experience, and items you own that can be used in a business. Look over this line-up, and using ideas from it, list possible businesses to start. Eliminate any business that isn’t appealing or doesn’t fill a need people have. For ideas on different types of businesses, consult the end of this article. Other ideas can be found in the source material listed at the end of this article.

STEP #4 CHOOSE A LEGAL FORM The three basic legal forms are sole proprietorship, partnership, and corporation. The most common is the sole proprietorship. As its name implies, a sole proprietorship is owned by one individual. It is the oldest form of business, the easiest to start, and the least complicated to dissolve. Here are some of the advantages of this business form: 1. You own all the profits

2. Your business is easy and cheap to organize. You don’t need any government approval, although you may be required to carry a city, state or county license. Your only other obligation is to notify the Internal revenue Service (IRS) for the purposes of sales tax.

3. You’re the boss

4. You enjoy certain tax savings. You must pay regular individual taxes on your income, property, and payroll, but these are not levied as special taxes, as with a corporation. You will also have to pay sales tax which you have received from your customers.

5. Greater personal incentive and satisfaction. Since you have your investment to lose if your business is not successful, you should be more willing to put time, thought, and energy into the business. And when your business is successful, you enjoy maximum sense of accomplishment since you know its success was dependent upon your decisions about your management ability alone. For more information about this and other forms of business, send for the U.S. Small Business Administration (SBA) Publication MP25. Selecting the Legal Structure for Your BUsiness (50 cents). It outlines the advantages and disadvantages of each legal type of structure. If after reading it you are still uncertain what form of the business should take, consult an attorney. STEP #5 DETERMINE WHERE THE MONEY WILL COME FROM There are three ways to finance start-up costs: use your own money, obtain a loan, or find investors. If possible, it is better to start small, use your savings, and not worry about repaying a debt. also keep in mind that since you are a home-based, chances of qualifying for a loan or finding investors are slim until the success of your idea is proven. STEP #6 GATHER INFORMATION Spend a few weeks researching home-based businesses. A library or bookstore can provide numerous books on business basics, and on the specific type of business that interest you. Homemade Money by Barbara Brabee (see sources) is an excellent book to start with. If you are considering a computer business, get in touch with the association of Electronics; Cottagers, P.O. Box 1738, Davis, CA 95617-1738. To keep informed of what is happening in home business world, contact National Home Business report, P.O. Box 2137, Naperville, IL 60566, for subscription information; and Mothers Home Business Network, P.O. Box 423, East Meadow, NY 11554 (send SASE for free information). STEP #7 CHECK ON ZONING RESTRICTIONS Find out how your property is zoned, the call City Hall and ask what regulations apply to home businesses in that zone. Also, if you rent or live in a condominium, check the lease or homeowner’s association rules to be certain a home business is allowed. Generally, if you do not annoy your neighbors with excess noise, odors, and traffic, you will not be deterred from running a business at home. The neighbors may not even be aware of the business, but it is necessary to know exactly what you can and can’t do before you start. This is important should any problems or questions arise later. STEP #8 PICK A BUSINESS NAME AND REGISTER IT If the business you choose is different form your name, file an assumed (or fictitious) name certificate with the county. You are notified if another business already has that name, so you can select a new one. Do this before investing in expensive stationery and brochures. It costs only a few dollars to file, and it protects the business name from being used by someone else in the county. STEP #9 WRITE A BUSINESS PLAN A good business plan clarifies your ideas and establishes a plan of action. A good business plan should include a description of what you are selling, your background and qualifications, who the prospective customers are and where they can be found, what is needed to build the business, how you plan to promote, and how much money is need for start-up costs. SBA Publication #M925, The Business Plan for Home-Based Business ($1) is helpful. STEP #10 GET AN IDENTIFYING NUMBER If you are the sole proprietor of the business and have no employees, you may either use your Social Security number or an Employee Identification Number (EIN) as the business number on official forms. If you have employees, or the business is set up as a partnership or corporation, you must obtain an EIN. To do this, complete IRS Form SS-4 (Application for Employer Identification Number) and file it with the nearest IRS Center. STEP #11 OBTAIN A SALES TAX PERMIT If the product or service you sell is taxable, you need a state sales tax permit. Call the local tax agency, explain the type of business you have and what you sell, and ask if you need to collect sales tax. If you do, they will send you the necessary information and forms to complete. You also use this tax number when your purchase items for resale. STEP #12 OBTAIN LICENSES & PERMITS It’s very important not to overlook any necessary license or permit. For example, some cities and counties require a general business license, and most have special laws regarding the preparation and sale of food. Call City Hall to find out what is need for your particular business. In addition, Chamber of Commerce provide information on city, county and state licenses and permits. STEP #13 SELECT BUSINESS CARDS, STATIONERY, BROCHURES Spend time on the color, design and paper for these items. They make a definite impression-good or bad- on the people who receive them. If you are not certain what is most suitable and effective, consult a graphics designer or a creative printer whose work you like. STEP #14 OPEN A BUSINESS CHECKING ACCOUNT Call several banks to find out what services they offer, and what minimum balance, if any, must be maintained to avoid paying a service charge. Also ask about credit card if you plan to offer this convenience to your customers. Bank fees can be significant, so shop around for the best deal. If your personal checking account is with a credit union, see if it can also provide a separate business account. when you open your account, you may need to show the assumed name certificate and business license. Finally, investigate obtaining a credit card in the business’s name. If this is not possible, set aside a personal credit card to use for business expenses. STEP #15 SET UP RECORD-KEEPING SYSTEMS Put together a simple and effective bookkeeping system with an 8 1/2 x 11″ three-ring binder, columnar pad sheets and twelve pocket dividers from the office supply store. For each month, set up columnar sheets for income and expenses. Use a pocket divider for each month’s receipts, bank statement, deposit tickets, and canceled checks. In addition, an automobile log for business mileage, and filing system for correspondence, invoices, supplier catalogs, client records, etc. are two other useful tools. For more information on record-keeping, see IRS publication #583, Information for Business taxpayers. STEP #16 CHECK IRS REQUIREMENTS If you comply with basic IRS guidelines, you can deduct a percentage of normal household expenses (mortgage, interest, taxes, insurance, utilities, repairs, etc.) as a business expense. see the box accompanying this article and, for more detailed information, IRS publication #587, Business Use of the Home. Also become familiar with these IRS forms: Schedule SE (compensation of Social Security Self-Employment Tax) and Schedule 1040 ES (estimated Tax for Individuals). Depending on circumstances, you may have to file them. STEP #17 OUTFIT THE BUSINESS Make a list of everything needed to start the business, but before you buy anything, look around the house for things you already own that are usable. When you are ready to start purchasing, check the classified ads and garage sales. Both are good, inexpensive sources for office furniture, typewriters, computers, answering machines, etc. But only what is absolutely necessary for start-up, and wait until the business is off the ground to get the extras. STEP #18 DECIDE ON TELEPHONE REQUIREMENTS Call the telephone company to find out the cost of a business phone in your area. If you cannot afford a separate business line, investigate the telephone company’s regulations on using your personal phone in a business. It may be possible to do this if you follow certain guidelines. Keep a record of long distance business calls as they are a deductible expense. Finally, consider the benefits of an answering machine to catch calls when you are out. STEP #19 CHECK OUT THE POST OFFICE & UPS Using a post office box as the business address down plays the fact you are home-based. It also prevents customers from dropping in at all hours. While looking into box rental, ask for information on the various postal rates, particularly bulk rate, if you plan to do large or specialized mailings. If you mail many packages, check out United Parcel Service (UPS), as it is less expensive than the Post Office. STEP #20 PURCHASE THE NECESSARY INSURANCE Check with your homeowners insurance agent about a rider for your existing policy or the need for a separate business policy. Also make sure you have adequate personal and product liability coverage. Shop around, as each company has different rules regarding home businesses To save money on medical insurance, join an association and participate in their group plan. One such body is The National association for the Self-Employed: they can be reached at 800-527-5504. STEP #21 ORGANIZE THE HOUSE & YOURSELF To have more time for business, organize and simplify household routines. Start by holding a garage sale to get rid of unnecessary possessions. Next, have a family conference and divide household duties, making sure each person does his or her part. The, set up a planning notebook to keep track of appointments, things to do, calls to make, errands to run, shopping, etc. Finally, set up a work schedule so you won’t get sidetracked by TV, neighbor’s visits, snacking, and telephone calls. Creating and operating a home business is a wonderful and rewarding challenge. The satisfaction is not only in the money earned, but in doing what makes you happy.

These 3rd party payment processing solutions give the seller a link to a secure webpage where they can redirect their customers to, for completing the order. While the method has many benefits, it also has disadvantages.

Below I would like to make an introduction of the basic terms and concepts used by the standard payment processing services, to help sellers
Understand better what they need to compare when choosing an payment processing service.

Payment Cycle

- the time interval during which orders are taken for one payment. Can be monthly, bimonthly, weekly, etc. After each payment cycle ends, the payment should be sent to the seller.

Payment Hodling Time

- unfortunattely every payment processing service deliberately holds the payment for an amount of time that varies between a few days up to several months. They do not send the payment immediately after the payment cycle has ended, but instead they hold the payment for the specified payment holding time. They say this is to protect them against fraud, chargebacks, and it also helps them with increasing their profit ( by holding the money in bank for an interest ). For example, for a monthly payment cycle and a payment holding time of 15 days, the money resulting from orders during October will be sent to you on or after 15th November. This is not a big issue if the payment holding time is not long, but some services have a payment holding time of 2 months or more, and you will receive your payment for October sales in January the next year.

Payment Processing Day

- is the date of the month ( for montly payment cycles ) when the payment cycle should end, and the payment calculated. Usually this is the last day of the month, but some services let you specifically set it.

Signup Fee

- the fee for signup. Some charge non-refundable fees, other application fees, other do not charge a fee at all.

Transaction Fee

- the per transaction fee, usually a percentage with a minimum fixed value.

Chargeback Fee

- when a chargeback occurs ( it happens in case of fraudulent orders or when the customer is not satisfied with the product ) not only that the payment processing service takes back the amount of the order, but it also charges you with a chargeback fee.

Some payment processing services have additional fees, such as product download fee ( for virtual goods ), monthly fee, statement fee, refund fee, wire transfer fee, contract canceling fee. You need to ask them about all these fees, because most services do NOT clearly specify it on the website nor in easy to find documentation; and you might have unpleasant surprises later if you do not. Especially with the payment holding time, it’s disappointing to expect to receive the first payment just to find out that it will be sent to you months later.

It is a good practice to read the TOS ( terms of services ) and the contract before signing up, as many payment processing services state they reserve the right to terminate or suspend their services to any customer, for any and no reason at all, without notice, and they also state that the last payment will be held 6 months, for chargeback protection.

Looking back on many unsuccessful attempts at home business, we wish we had received guidance from someone who had already been down the road we wanted to travel. We had so many failures that we were starting to doubt that success in a home business would ever happen for us.

Thankfully, we didn’t give up and through perseverance we were able to achieve the success that had eluded us for years. Along the way we discovered many things that we wish we had known when we started this journey.

Our success has literally transformed our lives. We believe that to whom much has been given, much is required. Consider this information our gift to you. If we can be of assistance please, do not hesitate to fill out the contact form at TheHomeBusinessPodcast.

1. Success doesn’t happen overnight.

For some reason people think that they should become rich in a few months with their new home business and some people believe success should happen within weeks or days! We introduced a man in his early 50′s to our business and he was excited. When we first met he complained that he had been working hard for more than 30 years and he was broke.

He said he never had any time for himself or his family. We told him what it would take to become successful and he agreed to do it. Then, he disappeared. A few weeks later he called to tell me that he was quitting. He hadn’t even started and here he was ready to give up.

We asked him if he would be better off quitting his full-time job and keeping his home business! Of course, we didn’t really mean that he should quit his job, but he had been working full-time for more than 30 years and he was still broke. He started his home business just a few weeks earlier and he never gave it a chance.

Why is it that so many people think that they should become wealthy in a few weeks? The answer probably lies in all the get rich quick schemes that are so prevalent in our society today. You’ve seen the emails or read these lines in your junk mail. No Selling, We Do All The Work For You, Make $30,000 in 90 days and on and on.

Those get rich quick scams cause people to think that every home business is a scam and that’s not true. We just got off the phone with Doug, a nice guy who is seriously considering our home business. During our conversation we made it clear that he wouldn’t be rich in 60 or 90 days and his response was the kind of response we hear often, “Thanks for telling me the truth. I’m happy to know that I’m dealing with people of integrity.”

We were frustrated so many times in the first year of our home business that quitting seemed like the sensible thing to do. After all, these things don’t work. Who do you think you are? Why don’t you just get a job like everybody else? These thoughts and many like them nearly kept us from success.

If you already have a home business, perhaps you are facing the same thoughts. Don’t let the negative thoughts crowd out the life changing success that a home business offers. Sure, we struggled at first, but after 20 months we were making $100,000 a year in lifetime residual income! When you find yourself facing bankruptcy and foreclosure as we were and then apply for food stamps you have a firm grasp on the tough times life can bring.

Occasionally, we’ll say “What If?” As in, what if we hadn’t stuck it out through the hard times? What if we had taken the advice of supposedly well meaning people who said that we would never have success in a home business?

What if it took you two to four years to become successful in a home business? What if you could make $100,000 without a boss and a job to go to? What if you could actually be home for your children and know them as people instead of looking at them as the little people who live in your house?

Most people who start a home business quit in their first 90 days and go back to their dreadful lives of desperation. Most people aren’t really living. They are only existing. They’re going from one day to the next without any hope of a better life. Benjamin Franklin said “most people die at 18, we just don’t bury them until they turn 65.”

2. Success doesn’t happen without work.

I talked to a woman who said she was interested in changing her life. When it was time for her to make a decision she asked me, “Do I have to do anything?” “No” I replied, “once a month we just back the money truck up to your house and unload!”

If you had a traditional business you’d have to open your business every day. If you have a job you’ve got to show up if you want to get paid. When you start a home business you can’t simply sign up and expect the money to start being deposited in your bank account. There’s work to be done.

Is it hard to become successful in a home business? Compared to giving all of the best years of your life to your employer and missing birthdays, anniversaries, your child’s first words, your child’s first steps and realizing that life is nearly over and in your golden years you don’t have the money to do the things you want to do, no it really isn’t that hard at all!

If you’re in a business like ours when you employ leverage, getting paid for other people’s efforts, you can enjoy the fruits of your labor so much more. Even if you have a home business where you do all the work it’s better than working for an employer.

We are convinced that to live a great life your home business must employ the leverage concept. It’s the only way you can have money and the time to enjoy it. The wealthiest people in America became wealthy by owning businesses. The businesses that created great wealth were out in front of a trend and the business owner got paid based on the efforts of thousands of people. We wouldn’t be enjoying the life we live today if we were getting paid only on our own efforts.

We worked really hard with very little success in our first year. Our 2nd year was the breakthrough that we were looking for, success was on the way. What we failed to realize was that during our first 12 months we were improving our skills and our confidence and that’s when success started to happen.

So, how much did we work in our first two years? We worked as much as it took. How much should you work your home business? That depends on a variety of factors. How bad do you want it? How fast do you want to achieve success? We recommend that you work your home business a minimum of 7 to 10 hours a week, and do it consistently for at least two years.

Success doesn’t happen without work and it isn’t limited to working your business. Are you committed to improving your skills and working on you? Read at least 10 pages from a great book every day. Books like “Think and Grow Rich” will change the way you think and when you change the way you think you will change your life.

Expecting success without work from your home business is like expecting a paycheck from a job that you never started. It just doesn’t make sense.

3. You must be disciplined to achieve success.

So, you’re working your new home business and a friend calls offering to take you to lunch. Can you afford to go? Your favorite show is on TV, but you know you need to be working your home business, what will you do? Perhaps the biggest adjustment most of us need to make is to be disciplined in our home business.

Let’s face it in a work environment there is usually supervision. Many people fail in a home business because there’s nobody looking over their shoulder to see that they do what they need to do.

Since most people who start a home business have never owned a business, we must learn to be disciplined, if we’re going to operate a successful home business. There were times when somebody told us no and that was devastating. We’d usually mope around and fail to do anything else the rest of the day. Had we maintained that attitude, we’d have a job right now instead of an successful home business!

Consider setting business hours. Of course, there are exceptions to every rule, but asking friends and family members to respect your business and your business hours is an important step to success. We’ve got a good friend who makes more than $100,000 a year and when you come over to his house during business hours you can visit with his wife, but he excuses himself and works his business. If you have a small child, work when he or she is napping and when they are in bed at night.

It’s also a good idea to have a permanent work space, so you can shut the door, eliminate distractions and get your work done.

This is a difficult adjustment for some people to make, but your children can learn that when Mommy or Daddy is in this room with the door shut that they are working. You’d be amazed at how many children will respect your space and time if you ask them too. We’ve seen many successful stay at home moms and dads work with children nearby. Don’t let screaming children or children that interrupt you on occasion become a big deal, the person on the other end of the phone may be convinced that your business is right for them BECAUSE they hear your children in the background.

When you promise to call somebody back at a certain time you’ve got to find the time. Children will appreciate knowing why Mommy or Daddy isn’t available at certain times and you can explain to them that it will be worth all the sacrifices once you become successful.

Discipline can be difficult with all the distractions that can occur in your home, but it is one ingredient that you must have to become successful.

4. Who you’re involved with is more important than the business you’re in.

Let’s face it, most people don’t really have a clue how to operate a business, any kind of business not just a home business. When we’re young we are told to go to school to get good grades so we can get a good… JOB! That’s exactly the path most of us start on, get a job, work hard, work long hours and try to get a promotion so we can work more hours and hopefully make more money.

We do that for 10, 20 or 30 years and then realize that we are never going to get ahead. That’s when the idea that a home business could change our life hits most of us. We’ve been told to be good employees and that’s what most of us have done all of our lives.

There is no substitute for leadership. If you are blessed to find somebody who has been successful in a home business and you know that they can sincerely help you change your life forever, you should jump at the chance to work with them. Make sure you’re comfortable with them before you get started. So, what should you look for? You should look for somebody that knows exactly what they are doing. When you ask questions are they comfortable or uncomfortable? Do they have a system that you can plug in to and have immediate success?

One of the reasons I failed in other home businesses is that I didn’t understand the importance of finding the right person to work with. I am not blaming my failures on somebody else, but if I had been associated with people who really knew what they were doing they would have given me guidance that I did not get. Perhaps I would have failed anyway, but there is no doubt that working with successful people will cut your learning curve and save you a lot of time and money. Only you can assure your success, but finding the right person to work with and then listening to that person gives you a tremendous advantage over most people working business from their homes!

Let’s say you have what you think is a great idea and you’ve got a little extra money stashed away for a rainy day. Your spouse isn’t overly supportive, but he or she wants you to succeed. You decide to invest $1,000 or $2,000 in your new business by taking out an ad in a local magazine. You get no response at all. How do you think your spouse feels about your home business now? That kind of mistake destroys most people and they never recover.

Last week I received an email from a so called marketing guru offering his services. I could get his marketing expertise if I paid him almost $800. Almost everything he offered we give to our team members for FREE! We know that what we’re doing works for our business because it has been tested and proven to be successful or we wouldn’t do it. His material, although similar to ours, hasn’t been tested in our business and could prove to be a waste of both time and money. What would happen if you sent that $800 and it didn’t work? How supportive would your spouse be then?

5. Technology has changed everything.

Many years ago you had to get out and meet people and most business was done face to face. You could call people around the country, but if they had any interest in your business you had to send a package overnight. That proved to be very expensive.

When we were broke, I thought everybody that sounded serious, was serious. I was sending out packages several times a week only to find that these people weren’t serious at all.

Then, the internet changed everything. You don’t have to meet people face to face anymore, although I must admit it’s still my favorite way of doing business. Today, you can upload a video in seconds, so people can see you. You can send an email with links to websites, videos and your contact information. Auto responders make you look like a Fortune 500 company, and nobody knows how big your business really is because anybody anywhere can have a great looking website.

When I started my business more than 10 years ago my long distance phone bill was nearly $1,000 a month, today we can call as much as we want for $20! You can use conference calling and web casts to present your business to hundreds of people at a time.

People can automatically receive your latest Pod cast and watch it in the subway or at lunch. This is the information age and you should capitalize on the shift in technology in your home business. Don’t worry about all the latest gadgets when you start your business because the personal touch will always be important. Even if you don’t have a lot of money technology allows your home business to operate and look like a very big business.

Don’t get too preoccupied with technology. You can, however, use it to enhance your image and your productivity if you know what you are doing. Today, we don’t mail anybody any information regarding our home business. With internet access almost everywhere, we realize that if somebody needs us to mail them something, they probably aren’t the person we were looking for.

6. It’s a home business, but that doesn’t mean it can’t be a big business.

Most people that start a home business are looking for an extra $300 to $500 a month. What would an extra $50,000 or $100,000 a year do for you and your family, seriously! Maybe it’s because so many of us have failed so many times that we just don’t believe in ourselves anymore.

Once you understand the basic fundamentals of your new home business and once you’ve achieved some success, you’ll understand that the sky is the limit. We make much more money than we ever thought possible and we have friends that are making more than $1,000,000 a year! Hard to believe? Of course it is! Just because it’s hard to believe doesn’t mean that it isn’t happening.

After we struggled at so many other businesses I wanted to believe that we could become incredibly successful, but my past was holding me back. Today, we operate a home business that generates almost $10,000,000 in annual sales! Years ago I never knew anybody that made $1,000,000 a year, so it was hard for me to “see” myself ever reaching that milestone. When a good friend of mine did it, I could then start to see that I could have that kind of success.

So, do you really want to struggle all your life? Then why do we settle for mediocrity? Here’s why, we’re unsure of ourselves, stuck in a rut, scared, we lack confidence, we tried and failed and tried and failed, what will my spouse, mother, brother, best friend think? We care too much about what other people say, think and do!

7. As a Man Thinketh…

As a man thinketh in his heart, so is he. Joyce Meyer is fond of saying that where the mind goes, the man follows. Of course, it makes no difference whether you are a man or a woman, you are what you think you are. As we struggled in our home business it was easy to become discouraged. We had always failed. Those constant thoughts of failure surrounded us.

Then, we realized that others had succeeded. Why did they succeed where so many others had failed? Could it really be that the only reason they achieved success was that they thought differently? We were so broke and so desperate for a breakthrough in our lives that we realized that we could not afford the luxury of having negative thoughts. There were plenty of other negative people that we could have listened to, but what was that going to get us?

What if we listened to the people that were positive, which by the way were the same people who were achieving success? When we started our home business we felt like the biggest loser on the planet. If something positive didn’t happen soon we were going to have to move out of state to live with Judith’s mother. How were we going to explain to our children that we had lost our home? If our home business was going to change, we would have to change first.

We couldn’t afford the luxury of one negative thought. We started making good choices. We would distance ourselves from anybody that had anything negative to say about anything! We would surround ourselves with positive, uplifting people who would speak life into our lives.

We didn’t listen to people who laughed at us and yes, there really were people who laughed at us. We believed that we would have life changing success even before there were any real signs of success. Some people call that the “fake it till you make it” concept. While we wholeheartedly endorse that concept we do not recommend that you mislead people.

There is nothing wrong with having a positive attitude. It is wrong to misrepresent your current financial situation. One of the most disappointing things we encounter in home business is the tendency that people have to inflate their incomes. There must be some school of thought that this is appealing or O.K. and it is not.

Once you lose your integrity, you can never get it back. We have done everything we can to make it clear that a home business will not typically solve your financial pressures overnight. We know many people that have made $500 to $2,000 in their first month in a home business. Very few make more than that in their first 30 days. If you think you have to lie to become successful you are wrong. We made just over $300 our first month in the home business that has paid us more money than we ever thought possible.

Negative people tried to convince us that we would never have success. We didn’t listen to them then, and we don’t listen to negative people now. We know that you can have success in a home business. We know that it won’t be easy. We know that if you get guidance along the way from successful people that you will live an extraordinary life.