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Work at Home: The First Steps of Family Economics for Freedom,

Wealth, and Opportunities

Disclaimer: I am not a licensed professional in any area. This book is from my


personal point of view and how I run my home businesses. I am in no way
promising riches or success. That is all up to you.
Seek your own licensed professional advice on matters important to you. It is
your responsibility to do your own due diligence and make decisions on your
own.











Randy Schrum
Work From Home
2013, Randy Schrum
My Inspired Media LLC
12430 Tesson Ferry Rd, Suite 129
St. Louis MO 63128
ALL RIGHTS RESERVED. This book contains material protected under
International and Federal Copyright Laws and Treaties. Any unauthorized reprint
or use of this material is prohibited. No part of this book may be reproduced or
transmitted in any form or by any means, electronic or mechanical, including
photocopying, recording, or by any information storage and retrieval system
without express written permission from the author / publisher.

Table of Contents
INTRODUCTION ................................................................................................................................ 4
NO YOU ARE NOT CRAZY ............................................................................................................ 4
WHY WORK FROM HOME? ..................................................................................................... 10
WHERE DO YOU START? .......................................................................................................... 14
WHAT CAN YOU DO FROM HOME? .................................................................................... 16
PRACTICAL SETUP TIPS ............................................................................................................ 36
IS MY IDEAL GOOD ENOUGH? .............................................................................................. 39
HOW DO I DEVELOP A PLAN? ............................................................................................... 42
WHAT ABOUT FUNDING? ........................................................................................................ 55
DO I NEED A LAWYER, ACCOUNTANT, OR CONSULTANT? ................................ 58
THE FUTURE- WHAT DOES IT LOOK LIKE? ................................................................. 59

All Resources mentioned in this book are located here:


www.theworkfromhomebook.com/resources


Introduction
No You Are Not Crazy

First, let me start by saying you are probably not as crazy as others think you are
when it comes to wanting to work from home. However, if you let those who
think youre crazy get hold of this atypical book, they will either think you are
now really crazy or set out on a journey of working from home for themselves.
While there are a lot of books on the topic of working from home, none of them
have been written in this manner before. In fact I believe the majority of work
from home books still have too much of the philosophical economic system
interlaced throughout their pages.
This book will challenge the very fiber of how you look at economics, working
from home, and how you go about your personal and professional endeavors
from here on out. Now as you can see within the introduction I have an opinion
and belief system that will become apparent as you read. This book is not meant
to be some great masterpiece in English literature, rather a raw guide of how to
work from home with a basis of why you should from my worldview.
Working from home isnt for everybody. Some people are just not willing to put
in the work, effort, and risk it takes to succeed. However, that is not you or you
wouldnt be reading this book.
Finally, this book is meant to give you the strong whys of working from home.
The why is what will carry you through and I am not talking about the same old
shallow whys everyone comes up with. I am talking about ones that come from
the depth of conviction and belief. That is what we will explore in this book along
with some practical How Tos along the way.

So if you are ready for the challenge from both a personal and professional level,
then you have the right book when it comes to having a successful home business.
My Story
After graduating high school in 1995, I decided college wasnt for me. At the time
I was taking care of my niece most of the time and was really involved in my
church. Two short years later, I got married to my wife Michele and today we
have 6 children.
In 1998, I took a position at a mega church and eventually became the Director of
the Family Center. Around this time, I went through a one year Internet business
coaching program that really didnt go anywhere. But while running the family
center, I began to invest in residential real estate in my hometown. I was quickly
bitten with the real estate bug and started investing all over, which, you could
say, developed into my first business.
Eventually, as with many others, the real estate market collapsed and the
business dried up, hitting our family hard. So I took a corporate sales position for
a brief period of time, doubling my sales division from $18 million to over $36
million in sales. It was then I decided to leave that company and start my own
marketing and sales consulting firm. At the time, I knew fully that this was what I
was supposed to do, yet the economy had just hit rock bottom. Jobs were in short
supply and we didnt have the finances to really carry us through.
Nevertheless, I knew why I wanted to work from home. Through the years I have
been involved in multiple businesses, which you will learn about in this book.
Some have worked out really well for me and others just didnt seem to suit me so
well.

Today my family owns multiple businesses from the comfort of our home and
runs the businesses together. Our children are involved as well and often times
they go with me on appointments and even road trips.
It hasnt always been easy, but today, as I sit here writing this book, I can tell you
it has been worth it and the rewards of freedom, family, and independent wealth
are a great blessing.
The Challenge
Common Challenges
Often times those who are inspired to start their own home business because of
conviction and passion will often overlook the associated common challenges.
But you have to believe nothing will stand in your way and plan accordingly. I
believe we have lost the faith in our ability to overcome anything between the
ages of 8-18. The economic and educational system steals our passion, dreams,
and spirit needed to overcome obstacles. That system wants citizens to expect
little of themselves and to just agree to the system of working for paycheck.
However, with challenges come opportunities for growth and personal
development:
Some of the typical challenges we will cover are:

Deciding on a Business

Funding

Taxes

Legal

Marketing

Business Plan

Resources

Here are some of the most important and overlooked challenges of working from
home that I have learned over the years.
The Lie of Stress: Many home business owners allow the idea of stress to
build up and weigh down their daily life. Allowing stress to build up is first of all
unhealthy physically, but also bad for your relationships. Stress weakens your
personal and professional behavior.
So here is how I deal with stress:
1. Things are never as bad as we make them out to be.
2. I dont focus on the problem too long; rather, I focus on solutions.
3. If I cant find a solution immediately, I table the concern to allow my
subconscious to go to work on finding one. It is amazing how often
solutions just come to me using this method.
4. I will go work out, take a run, sit in the sauna, or do some other activity
that brings clarity to my mind and body. This helps me not only deal with
stress but also come up with solutions.
5. I never go to sleep with stress; I actually go through the practice of sitting
stress on my nightstand every night. So what do I mean? I will go through
the actual motion of pretending I am removing stress from the chest and
sitting it on the nightstand. Once done, I have agreed to myself to not
think about it anymore.

The Lie of Panic: I used to think if I went into panic mode, things would get
taken care of, and usually they did in the short term. However, in the long term, I
mistakenly began to think this was the ideal way to deal with lost revenue, bad
deals, and bad decisions.

I came to realize I would never achieve anything better if all I ever did was panic
through situations to deal with them, which ultimately inhibits your success in
relationships, finances, and business.
The Lie of Doubters: I used to always get advice from people who were not
home business owners or even business owners. Worst yet, because of
relationships, I would willingly accept unsolicited advice or thoughts from family
and friends on my business.
Usually, these individuals are not out to willingly sabotage your success.
However, we have been conditioned in this culture that working from home isnt
natural, even though it is the most natural thing to actually do. Furthermore, on a
subconscious level, family and friends who are not in business themselves dont
necessarily want you to be successful from home.
By being successful, your family and friends have to take a long hard look at their
own lives. This is something they dont want to do, they dont want to face the
truth of the matter when confronted with the fact you have found a better way.
The next time you accept advice from others, it needs to be taken in context.
The Lie of Ethics: The bottom line is there is no such thing as business ethics.
Either you are ethical or you are not, and being in business working from home
only amplifies who you really are.
The Lie of Limited Family Involvement: This is the idea that for some
reason, your family (namely, your spouse and kids) shouldnt be involved. The
reality is you work from home to spend more time with our family. Yet, what I
used to do is set aside 8 hours every day during which my family was not allowed
to disturb me, which seems crazy now. Furthermore, the idea that my family
shouldnt know or be trained in what our home business does is just as crazy.

If you want a successful home business, I suggest you involve your families. Set
expectations on how to deal with calls and meetings, but dont alienate them.
Instead, use this as opportunity to train them, be with them, and run the business
together.
The Lie of Independence: This lie is similar to the previous one cautioning
against alienating your family. Working from home goes against the grain for
western economics, which stresses attending college above all else, generate
$100,000 in student loan debt, getting married, and taking out a mortgage with
two car loans. Then work eight hours per day at a good job, while sending your
spouse off to work and your kids to be brainwashed by an educational system that
you dont agree with.
The idea of independence comes from this very form of western culture, which
removes you from your familys lives for at least 9-10 hours per day.
When we begin working from home, we find the desire to still operate with the
underlying mentality that western economics produces, which emphasizes
independence or alone time from the family, to the detriment of personal
happiness and family life.













Why Work from Home?



The historical norm has not involved working 8 hours per day, nor is spending 910 hours away from the family each day. When we look back at history for
thousands of years, we observe that the family was the basic economic unit. We
also see families that were much healthier and intact, a direct result, I believe,
from working from home.
Take a look just 120 years ago; most of the world economies were family based,
home based, and family integrated. While there are many reasons for the rise in
broken families; increase in the medicated population for depression; and decline
in morality, one key identifier for a healthy family and those individuals to be
healthy in the family unit is one where the parents are present most often and are
free from the current way our economic system operates. All the current research
points to this statement and it is no longer a debate.
Today, one of the major reasons for working from home is spending time with the
ones you love and care about and maintaining truly healthy relationships, as the
current system breads selfishness, independence, entitlement, cheating, and
double-minded actions.
So who said you couldnt work from home?
The bigger question is really why not? Today so many individuals dont believe
they can work from home because it is something they never knew and most
academics do not expose students to the possibility.
You have to realize that the concept of working from home is foreign to the mass
population, even to your trusted family and friends. Even more something they
dont understand they will question and when it comes to their perception of
survival will be highly critical. Sometimes, taking your life back bothers others

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who lack the courage or initiative to do the same. Nevertheless, dont take offense
because they just simply dont realize what they are doing.
People will question working from home with some basic self-preservation
questions that society has conditioned in them, such as:

How will you pay your bills?

How will you get the money?

Dont you need a degree to do that?

What makes you an expert?

Isnt that impossible to get into?

Who will do business with you?

Wont you be away from your family a lot?

Isnt that going to require long hours?

Isnt that a risky move?

Freedom
Freedom is also one of the main reasons to work from home. In a regular job you
are not as free as you think you are because everything you do depends on your
employers approval at some level.
Working from home gives you:

Freedom to set and adjust your own schedule.

Freedom to express your beliefs.

Freedom to live out what you believe.

Freedom to do what you want.

Can you imagine the freedom to stop in the middle of your work to spend time
with your family just because? The ability to pick up and leave for a two-hour
hike to clear your mind or the ability to take a last minute trip?

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How about the freedom to adjust your schedule as often as you want based on
your familys needs or your personal life needs?
How would this type of freedom affect the quality of your life and those around
you?
Saves Money
Working from home rather than having a traditional office allows you to save
money:

Payrolls, in most cases you can reduce if not eliminate staffing. Especially
you believe in a family economics.

Limited overhead, such as office cost and no commuting cost.

Leases and office rent can be completely eliminated and home office costs
in most cases are partly tax-deductible.

Meals: no longer do you need to eat out all the time or pack expensive or
unhealthy lunches. Now your health can come first.

Wear and tear on vehicles.

Possibly, daycare will no longer be needed for your children.

We are talking potentially thousands of dollars each month. Now think about
how much you realistically need to generate the first few months you own your
business.
Create Multiple Streams of Income
Working from home allows you to create multiple streams of income, meaning
multiple assets or businesses. Once you have one business up and running you
can now pursue your next venture. True wealth comes from multiple assets

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spitting off cash to you whether you are working or not. This is something a
number of work-from-home pioneers overlook, and when one stream dries up
they panic or go get a job.
Continue to create businesses that support your dreams and family in the long
run. Focus on creating multiple assets spitting cash to you whether you are
working or not.
At the end of the day, you can choose to work from home and be self-employed, a
model that dries up the moment you stop working. Or you can choose to work
from home owning businesses that develop your dreams of freedom and family.

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Where Do You Start?


Getting started may be complicated, but first let me say that choosing one
business initially will be important before moving on to others later. As you read
in the previous chapter, I believe in creating multiple streams of income.
As you are getting started, it is important to first identify some things about
yourself, such as what is important to you both personally and professionally. I
would challenge you to take a long hard look at what you believe, what you are
passionate about, what matters to you on a deep level. Write those things down in
one word, two word, or three word statements.
Once you have created a list of beliefs and passions, add to it your skills and
talents. If you are not sure what you are talented at, ask others for their opinion
on what they see as your talents. When doing this, dont mention it is so you can
identify what home business you want to start. Keeping that from them at this
point will actually help you and them give you the answers you are looking for.
Now that you have the list, just sit on it for a few days or weeks. Maybe add to
take away from it while allowing your mind, both consciously and on a
subconscious level, to go to work.
Which direction should you go? Here is a short list to start the creative thought
process. This is meant for direction, not specific business models. In the next
chapter we will cover specific business models you can implement based on this
short list.
Provide a service to others who do what you love.
One fulfilling business from home could be to serve others who you believe in.
Whether it is a product or service, think about ways you could develop a business
around aiding them.

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Focus on doing just the things you love.


While its easy to say this, actually think about the things you love. Could you
create a business around that?
Teach others to do what you love.
So what do you love to do? Chances are if you are passionate enough about
something, you are probably going to be gifted in teaching it and thus build a
business around it.
Write about what you love.
Take, for example, me writing this book: working from home with a worldview of
family economics that challenges the typical schools of thought.
Speak about what you love.
If you are passionate and not shy, maybe speaking on the topics you love are in
your future.
Create a product related to what you love.
Similar to teaching, you could create a teaching product based around what you
love or even some type of tangible product that enhances the interest.

Sell or broker what you love.


Chances are, if you love it, then you could sell it or even broker it, meaning you
can sell the products or service or even create win/ win deals between two other
parties for some type of commission.
Notice a theme here: when its something you are talented with, passionate
about, or love then the chances of you being successful with it will be much
greater. And lastly, you can organize what you love, set up, repair, restore, fix, or
maintain what you love as businesses.

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What Can You Do From Home?

In this chapter, we will discuss various models. I encourage you to keep your
mind open to the possibilities. Western economics has conditioned us to look at
certain businesses in a negative light, so be ready to consider things differently.

The Franchise Model


If you have some money set aside, you could choose to buy into an already
established business model with proven results. Often, successful companies and
chain businesses will sell franchise opportunities to set up their business in a
geographical area.
The cost for a franchise can often be expensive, but also be an idea way to get
started. There are many franchises currently that allow you to work from home.
Franchise models are like a business in a box, with a proven concept, system, and
marketing plan. Many have corporate training days, a coach, and ongoing
support to help you.
Two negatives would be the high cost to start and a set ceiling of income in many
cases due to geographical constraints.
You can always consider opening multiple locations once you get well acquainted
with your first one and you have established profitability.
There are three basic types of franchises:
1. Distributorships, which sell the right to sell their parent companies.
2. Trademark or brand name licensing.
3. Fully equipped business franchises, such as Subway, McDonalds, 7 Eleven,
and Hampton Inns.

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The franchisees usually pay an initial fee to acquire this right and thereafter pay a
percentage of their gross sales to the franchisor throughout the term of their
franchise contract.
Ecommerce Website
Ecommerce is a viable business model as online purchases continue to skyrocket.
More and more consumers like to do their shopping online. The key to online
enterprises is to always be capturing information. Before you ever sell, give them
a reason to enter their information on the website for free offers, coupons,
reports, giveaways, or even newsletters. The most important aspect in marketing
is capturing leads and prospects information online. Mastering this will make the
success of your ecommerce venture much more probable.
When we talk about capturing information, we are talking about various aspects
such as:

Email, which is slowly becoming less effective, but still the most effective.

Mobile phone numbers for texting; this is becoming very effective

Mailing address

Free Mobile APP Subscription; giving away a mobile APP this will allow
for push notifications, similar to text.

So how do you find products to sell?


You can choose a niche you would like to get into and then find a manufacturer or
become a manufacturer of the product. We will get into marketing and
determining viable niches later in the business plan section. Understanding the
niches reach online will be critical for the success of any ecommerce website.

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Authority Website
So what is an authority website?
My companies have created multiple websites that focus on different niches from
an information point of view.
These websites can generally provide some of the following in order to generate
leads.

News on the topic

Reviews of products and services in the marketplace

Expert columns

Reports

Guides

Tips

In providing this type of content on a particular niche, we generate a lot of


website traffic and capture numerous visitors information. In turn we sell our
products, services, and affiliate offers to the list of people we capture.
What is an affiliate offer? It is simply an offer were you get paid to refer
customers online.
I personally like the authority method because we are able to build great list
around niche topics and market to them various products and services.
You can take for example some of our websites we currently have:

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www.absolutecurrency.com We used to build our list to sell financial education


products, work from home products, and other financial related offers. Now the
website is dedicated to news and information on currency, wealth analysis, and
trading news. It is more news focused and we dont highlight our products, yet we
capture most of our visitors information within 7 seconds. We do this by using
pop up scripts.
www.wearefreepatriots.com Focused on long-term food, water filters, and
education material around survival.

Kindle Publishing
By now you may already be thinking of publishing a book on Amazon through
Kindle. This book is listed on Amazon and you may be reading it from kindle as a
matter of fact.
It has been widely known that Amazon has actually sold Kindles as a lost leader
in order to sell the books that customers purchase in the future to load on them.
In fact millions of kindles have been sold and each year, though Amazon never
discloses the numbers. What we do know from Amazon is that over 1 million
Kindle purchases happen weekly. We also know that Amazon owns the market
share for books both print and ebooks.
Thus, you could become a published author using this method and also establish
yourself an authority on a particular topic, which could compliment a business
you have in mind.
The cost to publish with Amazon is currently ZERO. The upside is significant
when you consider Amazon actually goes to work ranking your book when its
optimized correctly. Have you ever noticed how often Amazon book results show

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up on the page one of Google search? Sometimes it is organic or natural and


other times it is paid by AMAZON.
When a book is listed on Amazon it does have the potential to do really well when
you optimize the process. I have put on my website a guide on How to Sell 100
Books a Day on Amazon that you can download at no cost.

Affiliate Marketing

Affiliate marketing is a type of performance-based marketing in which a business


rewards one or more affiliates for each visitor or customer brought by the
affiliate's own marketing efforts. Affiliate marketing has become a very big
industry resulting in the emergence of a secondary tier of players, including
affiliate management agencies, super-affiliates and specialized third party joint
venture brokers.

Super affiliates are those who have very large databases and can typically
outperform regular affiliates by three or four times more. Joint venture brokers
specialize in finding list owners or affiliates who can promote niche products that
match their list.
Affiliate marketing is a great way to grow your business if you havent ever
considered using them. Affiliates often use various methods at their own cost to
drive leads such as social media, (SEO) search engine optimization, (PPC) pay per
click , solo ads or email marketing, banner advertisement, product reviews, and
content marketing.
Affiliates only get paid when they generate sales or agreed upon measurables,
which presents a dual opportunity. Remember that you dont get paid unless you
produce and you dont pay unless your affiliates produce. When you market
affiliate products or services and refer new customers you can get paid anywhere

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from 5% up to 75% in most cases. I personally like to market products in the 50%
commission range. However, I do market some that are lower commission.
This idea of affiliate marketing can be very appealing if you know how to build list
and can market to them very inexpensively. That is why I like authority websites,
because they are inexpensive and build great niche lists.
Most of my clients ask 90% of their questions around this topic in our
Mastermind ROI program. Just about every other week we get on call and
discuss the topics of marketing and sales. I dont think a call goes by that we dont
cover list building in some way.
Direct Selling
Listen to the following statement, and then choose
In most Americans minds, its a scam and a scheme questionable or
unethical at best, immoral and illegal at worst.
Many own-your-own entrepreneurial hopefuls have been hyped into
turning over their life savings, only to see the company go out of
business, taking their dreams down with them.
Politicians, regulators and the media (especially the media) cry foul
whenever its name comes up. Newspapers, magazines and television
news and talk shows regularly expose it for the flim-flam rip-off it really
is. Major corporations who get involved go out of their way to avoid any
appearance of doing so. There is even a move in Congress to outlaw it
altogether!
Now, guess: which one is the right answer?
A. TV ministry scams

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B. Off-shore investment schemes


C. Multi-level/network marketing
D. None of the above
Now, guess: which one is the right answer?
A. TV ministry scams
B. Off-shore investment schemes
C. Multi-Level/Network Marketing
D. None of the above
Did you pick A, B, or C?
Well, theres probably some truth to all those choices but none of them is the
right answer.
In fact, its a trick question. The right answer is
D. None of the above.
more than 40 years ago! Back then, thats exactly what people were thinking
and saying about a radical, revolutionary new business concept called
franchising.
In the 1960s before Ray Kroc and McDonalds, before Dunkin' Donuts, Midas
Mufflers, Molly Maid, Pizza Hut... and all the other successful franchise
companies established franchising as a legitimate industry all of those negative
things were being said about franchising. And yes, there was even a move in
Congress to outlaw it.
And today...?
Today, experts say the franchising industry is responsible for more 40 percent of
all retail goods and services we buy and sell in the United States over one
trillion dollars!

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Franchising truly was a revolutionary business concept and it still is.


Take a look at your alternative: 80 percent of all small business fails in their first
year. 80 percent of those that make it dont survive to see year five and of those
that do, even fewer will last another five.
Think about it: how many companies do you do business with that
have been around for 10 years or more?
Not very many....
Franchising is a way for the small business entrepreneur to boost the odds of
success. A franchise takes the guesswork out of building a business from scratch.
The franchise company creates a turn-key opportunity a ready-made, off the
rack business, complete with products or services, logos, uniforms, training,
vendors, policies and procedures. Virtually anyone with the desire and start-up
capital can climb into this vehicle, turn the key, and drive off down the highway
of entrepreneurial success.
Its truly brilliant.
You dont need to know all there is to know about building a franchise to own
one. The franchise company has done all that work for you. You simply pay your
franchise fee, build or rent your location and furnish it with the equipment the
company has already designed and successfully tested for you, hire your people,
and then pay the company a percentage of your sales and profits.
A Question: How well do franchisees do?
According to its critics, the truth is about one third of all franchises fail. Another
third break even, and only one third make a profit. In fact some franchise
veterans say you cant make money in franchising today unless you own at least
five or more individual franchises units! Still, thats a much better average than
the 80/20 failure/success rate of conventional small businesses.

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Question: How much does it cost to own a franchise, today?


Ahh, theres the rub.
Franchises fees range between a low/low/low of $1,000 to $500,000
and more. The average fee today comes in at around $50 grand.
You can get a Molly Maid or a Thrifty Car Rental franchise for a fee of $17,500 as
of this writing. Sir Speedy is $25,000. And the big guys, like McDonalds... well
even if you could find one forget it! Its in the millions...
The really bad news is thats only the fee. Youve still got to pay for the building,
equipment, initial inventory, etc. all of which can run into the millions or more.
The average investment in a proven franchise opportunity is $250,000! Not quite
what the average person can afford. Moreover, most franchise companies take a
percentage of your sales not just profits, SALES as their royalty commission!
Its tough to start a franchise today, unlike when the industry was young and
unknown. As in real estate, the stock market or most other opportunities, those
who get in early make the real money.
However, higher risk means a higher reward. Once anything is a sure
thing, it seems everybodys doing it.
Today franchises are proven profit centers. Thats one reason why theyre so
expensive. You pay for having less risk than a conventional business start-up
and you pay for being a Johnny-come-lately, as well.
But there is a way to have the low-to-no-risk benefits of a proven, duplicable
business system like franchising, and still enjoy the rich rewards of a ground floor
opportunity.
Frankly, most Americans dont have the extra $25,000 to $250,000 or more that
it usually takes to own their own franchise business. But almost every one of us
can afford to have the next best thing. And thats exactly what Im telling you

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about here: The NEXT... BEST... THING.... The People's Franchise...


... Network marketing.
Network marketing has taken the concept of franchising providing
independent entrepreneurs with a ready-made, low-risk, proven,
turn-key small- business opportunity and made some genuinely
remarkable improvements on it.
Low Capital Investment Little or No Risk
How much money do you need to become an independent network marketer?
There is usually no fee required to start your networking business. Youll typically
commit between a few hundred dollars to a few thousand dollars for your sales
kit, training and sales and marketing materials, and your initial product
inventory if you even need it.
The Benefits and Tax Advantages of a Home-Based Business
For most participants, network marketing is a home-based business, so you dont
have the high overhead of a retail or office location. The equipment you need to
begin your networking operation can be as simple as a telephone, desk and file
cabinet. And the potential tax advantages of owning and operating a legitimate
home-based business represent one of the last forms of tax relief available to the
average American today.
No Employees You Are In Control
As a network marketer, you are an independent contractor the CEO of your
own businesses. Think of it as "Me, Inc.". You have no employees. The men and
women with whom youll work are also CEOs, running their own independent
networking businesses. In network marketing, you dont simply own your own
job you own your own business.

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And unlike most entrepreneurs, your business does not own you! You
are truly in control of your work and your life.
More Choices Part-Time, Full-Time, Travel, National and Global
Businesses
Every network marketer is a volunteer: You dont have to do anything. Youre
free to work the days and hours you want, where you want, doing what you want
and perhaps most important of all, youre free to choose the people with whom
you work.
Although the majority of networkers (currently 85 percent) operate their
businesses part-time, more and more men and women are pursuing network
marketing as a full-time career. Some work exclusively from their homes; some
choose to set up formal offices; others enjoy traveling to other cities and even to
other countries, building their businesses on a global scale.
Personal and Professional Support
In network marketing, youre in business for yourself but not by yourself. Your
network marketing corporations success depends on your success theyre your
business partner, so they give you the support possible, each step of the way.
As a good franchise company would do, a good network marketing company
provides you with the product or service to market, plus an R & D department,
new product development, field training, sales and marketing literature and
promotional materials, a distributor service department, and more. And today
every network marketing company is Internet-friendly. You and your company
are truly partners in a win-win opportunity.
However, theres another very special reason network marketing is the next step
beyond franchising. Which is why its sometimes called...

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Franchising 2.0
When you buy a franchise, you acquire the right to market the product or service
provided by your company. Its much the same in network marketing, except that
you dont have to pay a franchise fee or the same huge startup and overhead
costs, have a retail location and/or elaborate equipment, hire and manage
employees or deal with geographic restrictions on your marketing territory. You
also dont have to pay a percentage of your sales back to the network marketing
company. Whats more, you are an independent contractor you work for you
not for the company.
Furthermore, a network marketing company does one more truly revolutionary
thing for you.
They give you the ability to offer the opportunity to build a successful
business to others in partnership with you, too!
In direct selling, you not only get to earn income from marketing your companys
products or services (like a franchisee); you can also earn income from the sales
generated by people you enroll into your own network organization (like a
franchise company). They're your 'business partners', men and women who, just
like you, own their own independent network marketing businesses.
Thats why we call it Franchising 2.0.
And thats what creates one of network marketings most powerful and profitable
features: it allows you to leverage your time, talent and energy to earn
commissions from the sales made by all the other people you bring into the
business.

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Local Community Services


Local community services refers to things such as remodeling, handyman,
cleaning, landscape, painting, carrier, real estate, insurance, taxes, or any other
number of local services. All of these can be run from the comfort of your home.
Some cost more than others to start, depending on the equipment you need. One
thing to keep in mind is that most of these services are commodity priced rather
than value shopped, meaning that people are looking for the cheapest deal in
most cases. Besides cost for equipment and marketing you will need to do the
research to find out what the going rates are for the type of services you want to
offer. This will help you begin to see if this type of business is idea for you or not.
Commodity pricing can be very competitive and significantly narrow your profit
margins. If you decide to go into the local service business it would be wise to
think outside the box to generate multiple points of business from the client so
you can garner additional profits from certain jobs. To take it one step further, it
would be important to come up with value added services that none of your
competitors would be likely to offer.

Buying a business
Buying an existing business is also a great option and you can sometimes find
some good deals. When you buy an existing business, you are ideally buying it for
the fact it is already generating revenue for the owner, meaning immediate cash
flow. You also can get into the business for low start-up costs, except for a loan or
large payment to purchase. Many existing businesses also come with existing
inventory as well.

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Businesses are bought for various reasons besides the ultimate goal of owning
one. For instance some businesses you buy for the customer list and some for
equipment while others are for the brand name.
For some entrepreneurs, buying an existing business incurs less of a risk than
starting a new business from scratch. However, you must perform due diligence
to ensure that you are fully aware of the terms of the purchase.
If you decide to buy an existing business, you will want to be sure you are making
an educated decision. The following steps can guide you in the process.

Doing Due Diligence


There are also some downsides to buying an existing business. Purchasing cost
may be much higher than the cost of starting a new business because of the initial
business concept, customer base, brand and other fundamental work that has
already been done. Also, be aware of hidden problems associated with the
business like debts the business is owed that you may not be able to collect.
This also means researching to see if any licenses are required that you have not
been made aware of or zoning requirements.
Determining the Value of a Business
There are a number of different methods to determine a fair and equitable price
for the sale of the business.

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Here are a few:


Capitalized Approach:
This method refers to the return on the investment that is expected by an
investor.
Excess Method:
Similar to the capitalized earning method, except that it separates return
on assets from other earnings.
Cash Flow Method:
This method is typically used when attempting to determine how much of
a loan the cash flow of the business will support. The adjusted cash flow is
used as a benchmark to measure the firm's ability to service debt.
Balance Sheet Method:
This method values the business by the tangible assets.
Value of Intangible Assets Method:
This method compares buying a wanted intangible asset versus creating it.
Some intangible assets may be considered the name.

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Here are the next steps to purchase once initial due diligence is
complete.
Letter of Intent:
The letter of intent officially notifies the business owner of your interest.
This also lets them know you are serious and should spell out the proposed
price, the terms of the purchase and the conditions for the sale of the
business. If you dont have all of that their then you can demonstrate in the
letter your intentions to set the price, terms, and condition of sale after
due diligence.
I always like to get as much information as possible before ever giving a
ballpark number, then come back with a number and generally back down
from that number once all due diligence is complete, using any areas of
concern to negotiate a better price.
When I invest in real estate I always buy at discount prices by raising the
areas of concern to get the property into fair market condition and what it
will cost to do so.
This is a similar strategy in that you dont necessarily want to pay retail for
an existing business.
Confidentiality Agreement:
A confidentiality agreement indicates that you will not use the information
about the seller's business for any purpose other than making the decision
to buy it.

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Contracts and Leases:


If the business has a current lease for the location, be aware that you may
have to work with the landlord to assume any existing lease on the
business premises or negotiate a new lease.
This doesnt mean you have to work from the offices, you can still work
from home and have others run the business.
Financial Statements:
Examine the financial statements from the business for at least the past
three to five years.
Tax Returns:
Review the business's tax returns from the past three to five years. The key
is looking at profits, liabilities, and cost of goods sold.
Sales Agreement:
This agreement defines everything that you intend to purchase, including
business assets, customer lists, intellectual property and goodwill. If you
do not have a lawyer to help you draft the terms of the sale, you should at
least have one review the agreement before you sign it.
We actually keep an attorney on retainer for less than $100 per month and
they work in all the US states currently. Take a look here if you think you
might want their help. The decision for an attorney is an important one
and should not be based solely on advertisement.

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Often times in the process I find areas we can improve the bottom line in
liabilities and cost of goods along with new marketing channels never considered.
We will talk more about marketing channels later in the book.

Business Equity Positions


Similar to buying a business however in this method we like to acquire equity
positions in companies without bringing money to the table. Rather we like to
bring our unique skill sets to the table that can often times double if not triple the
companys sales.
If you have a particular skill set in negotiating better pricing, money
management, marketing, or sales you may be able to negotiate a piece of a
business.
I discovered this throughout the years owning our marketing firm; we had some
clients who wanted to pay solely on performance. Though we knew we could
deliver, I believed being paid on performance for doubling or tripling their
business wasnt ideal. After realizing the results I was producing, I began
negotiating ownership in businesses and collecting discounted consulting fees on
the front.
By now I am sure you are thinking, why in the world would a business owner be
willing to do that? Because they grow their bottom line, and its business they
would have never had. They might have less of the profits, but look at it like this.
Would you rather have 100% of nothing or 40% tripling your past years sales?
When acquiring these positions, you can stay on as a silent partner and
consultant or even have the original owner stay and run the business. The other
option is having the owner stay on for a set period of time for transition. We like

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to see the owner stay on, this motivates them to see the transition successful as
we like to attach a payment schedule to those specific terms.
This is one of the fastest ways to begin to create multiple streams of income in my
opinion and I am surprised that more are not doing it. At the end of the day it is a
win-win for both parties.
Consulting
A consultant is simply someone who has expertise in an area and can help
improve a business with that knowledge. Consulting is really wide open in its
interpretation. Nothing more and nothing less. In my marketing firm we offer
consulting, which consists of me being a companys virtual CMO for advice.
So just how big is the consulting world? Right now companies spend tens of
billions of dollars each year contracting with consultants.
Now consulting is great because it allows you to work from home and through
technology you can do most of your consulting from the comfort of your office.

Here are some things to consider with being a consultant.

What certifications and special licensing will I need?

Are you qualified? The answer is usually yes.

Here are examples of consulting businesses you could start.


1. Accounting and Audit Review
2. Advertising and Marketing
3. Business Coach
4. Career counseling
5. Communications
6. Computer consulting

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7. Publishing
8. Executive search

One thing to keep in mind in consulting is you always want to sell value
proposition and more importantly the value of your expertise. I would
recommend you stay away from commodity priced consulting.
The key to being a high paid consultant is producing happy clients and getting
case studies or recommendation letters from them. I currently have hundreds of
recommendations from my clients, and just to make it easy for them you can
write one up and have them sign it. Satisfied clients often love to give you a
recommendation letter. They just simply dont have the time, so create a general
recommendation letter that your clients can sign. The more tailored to the client,
the better. Use can also use LinkedIn to secure the recommendations from your
clients. This adds more credibility when the client is doing their due diligence on
you to verify you can do what you say.

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Practical Setup Tips


Here is my list of practical setup tips for working from home:
Internet
Now this one sounds pretty simple, yet when I first started working from home I
quickly found out the speed was way too slow. If you are doing video
conferencing, voice over the Internet, webinars, uploading large files, or playing
videos, you want to make sure your Internet provider can supply the bandwidth
you need. This is one area not to cut corners on or it can impact your
productivity.
The minimum download speed should be 6 Mbps up to 15 Mbps. You can get
speeds faster and if you are trading markets from home.
Office Location
Setting up your office location in the home really doesnt have to be that difficult.
When I was first starting out, I for some reason thought I had to match my preconditioned ideas of an office. That idea was based on western economics.
I want to encourage you to look at a home office differently. Here are some things
to think about.

You dont have to dedicate a separate room in the home. It could be


located in your main bedroom or basement.

The office can be mobile with both a desktop computer and laptop.

It comes down to productivity, not what you think you need. What will
make you productive and is absolutely necessary to get started.

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Computer
When thinking about computers, keep in mind a few things:

Hard drive space and processing speed are important to your productivity,
so having the right system goes a long way. I personally started with 1 TB,
terra bite and processing speed should be top tier. As soon as I write this
that speed will change.

I personally have a desktop with multiple monitors and a laptop to do my


work. The laptop allows me to work anywhere in the home and be in the
kitchen or living room with the family when I am not working on
something pressing.

Should it be PC or MAC? Well I prefer MAC as they run faster, are less
prone to viruses, and more durable. Here is the desktop system I have.

Computer accessories that you should look at are microphone,


headphones, web cam, and printer.
o Microphone is important for webinars, conference calls, and
recordings.
o Headphones can be used when there is feedback on calls or
webinars in addition to watching or listening to media.
o Webcams will be used for conference calls, webinars, and
recordings you may want to do.
o Printer will be helpful so you dont have to go to an office store to
print simple documents.

Desk and Chair


Depending on the space in your home, choosing a desk is relative. Remember you
dont need a big desk just to have a big desk. Think about what will help you be
efficient and accommodate your home and family.

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Make your family part of the effort and decision process. Use the opportunity to
teach, not to argue. Share why a particular direction would be a good idea.
Now some basic points on a desk and chair:

The chair needs to be adjustable, as this will help you change things up
and keep a fresh perspective while working. Sitting in the same position all
the time will begin to take its toll on you.

The desk should be durable, but light. This will allow for you to move it as
your family environment may change.

Additional Equipment
I usually find great deals on Video Equipment, Lighting, Tools, and Office
Supplies on Amazon.
When working from home, its important that you set some ground rules for
engagement with the family when you are working. What I wouldnt do is set
strict policies on every item, but rather let them know the importance of the
business. When they step over those lines take the opportunity to teach them
why and how that affects the business. Your relationships will deepen and your
family will be glad you are working from home.
The point is to make your family feel involved, cared for, and loved. If they
perceive your business is more important than them then you might as well be
working for an employer. If you setup an office with a lock on the door, remember
you are working from home to be with your family - not to keep them locked
out of your life for 8 hours in a day.

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Is My Ideal Good Enough?


Do you have an idea for a business? Whether you are coming up with a new idea
for business or one that has already been in use, we will explore the basis to
validate if a business idea is a good enough to take to the next step in starting.
You dont need a new idea.
There are already many proven business models you can do from home and
getting started today working from home is much easier than twenty years ago.

Initial Idea Analysis


For the next few minutes we are going to look at two areas that can help validate
your business idea: demographics and market reach or accessibility.
Initial Idea Analysis: Demographics
Demographics help us identify our ideal target market, customer. Understanding
who is it you are marketing too, basically who will buy your product or service?
Demographics may include some of the following:

Age

Sex

Industry

Education level

Income level

Ethnicity

Race

Precise interest (I believe this one to be very important for my businesses)

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Is there a demographic for your idea? If you cant seem to identify demographics
for your idea then you may have the wrong idea. With that being said, I believe as
I highlighted above that identifying precise interest you can learn of the
demographic is available to market your business too.
Precise interest can be any, but not limited to the following:

Music

Non Profits

Causes

Celebrity

Sporting

Stores

Seasons

Holidays

Geographic areas

Outdoor activities

And many more

From my point of view precise interest has been the missing piece to 99.9% of
most business owners marketing arsenal.
Initial Idea Analysis: Market Reach
Market reach becomes very important after you have identified the
demographics. Initial demographics help you identify market reach.
The way I like to determine market reach is to do both online and offline research
using the demographics as my filters. Through research my reach at the local
library for a local business I can determine if the market is viable in an area.
Basically are they reachable via offline and online market efforts.

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Online I like to take my demographics and search using googles free keyword
tool. Here I can add my keywords and location to see if people are interested in
my idea or not. Better yet I can see suggestions around the keywords I enter.
I also like to use googles advanced search option that allows me to search within
specific websites, especially social communities and forums to see if my target
market resides there and by how many. By knowing basic statistics of the social
platform being searched, I can then come up with a valid number that is
reachable using precise interest as a key filter.
While this may sound a bit advanced it really isnt once you get into it. You can
learn this by simply spending a little bit of time doing both. You will quickly pick
them up if you put your mind to it. You can also search Youtube for how to videos
on using both Googles free keyword tool and the advanced search tool.
As you go through the process you will begin to see various other opportunities to
research and verify your reach and demographic. What I have attempted to do is
demonstrate some ways to do it for no cost.
Big research firms would like to charge you thousands of dollars to achieve the
same data I am telling you can get on your own putting a little bit of time into it.
So is your idea viable?
After completing these research exercises you should have a good idea. I have
also put together a video tutorial on how to conduct online research here.

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How Do I Develop a Plan?



Getting started with a plan, you might call it a business plan. It precisely defines
your business, identifies your goals and serves as your strategy moving forward.
The components of the plan are listed in this chapter. Business plans help you
allocate resources properly, handle unforeseen complications, and make the right
decisions moving forward.
Plans are also very important if you need financing or investors as well. Both
investors and lenders will want to see a well laid out business plan. One I always
recommend when it comes to securing financing or investors is a company called
Master Plans.
Here are the key components to a business plan:
Summary
The summary is a snapshot of the business plan and is considered very important
as it gives a profile of the business, its goals, and overall projection. While it is the
first section of the plan, it is the last part completed, and should include:

Your experience. Even though this is a home business you should still
include your experience if nothing but for being a reminder of your talent
and skill.

Mission statement, why your business exists. I would encourage reading


the book by Simon Sinek Why.

Review of the need in the marketplace and the gap you plan to fill.

Briefly describe the product or service you plan to offer.

Briefly demonstrate accessibility of the target market.

Potential growth highlights and future plans.

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Company Information
Here you describe the nature of the business, location, and need you are going to
meet.
Some things to include:

Describe the basis of your business and list the needs that you are trying to
satisfy.

Explain how your products and services meet these needs.

List the specific consumers, organizations or businesses that your


company serves or will serve.

Explain the competitive advantages that you believe will make your
business a success, such as your location, experience, operations, or other
added value points.

Market Analysis
This section should illustrate your industry and market knowledge as well as your
research findings. Be sure to include the following:

Industry Description and Forecast, describe the industry, including


its current size and historic growth rate as well as other trends and
characteristics

Information About the Target Market such as:


o Distinguishing characteristics needs, interest, concerns, and
groups they belong too.
o Size of the target market.
o Forecast of this markets growth.

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What potential market share can you capture? It is important that


you dont just throw out a number up; back it with data. This will be better
demonstrated when you identify the strength of the marketing channels
you will use.

Pricing and gross margin targets, layout your pricing strategy and
margins that are built in for profit. At this point I cant stress how
important it is to sell from a point of value rather than commodity based.
Even if you market a tangible product, adding value to the offer can allow
you to price differently and capture market share.

Focus group and market test, I always bounce my ideas off others for
group feedback, and often test market ideas as well on target markets
using lead magnets to gauge interest. This is a great place to provide that
data.

Competitive analysis, identify your competition by product line or


service and market segment and access strengths and weaknesses. Reverse
engineer what they are doing and see if you can duplicate successful
strategies.

Window of opportunity, identify the expected length of this business


opportunity.

Organizational Structure
A simple layout of the management and owners, as well as their roles and
expectations, should be listed. While we are talking about working from home,
you may acquire businesses and having a plan is so vital to keeping you on track.

Marketing Plan
I like to really break this section down. This is ultimately what will drive business,
so I believe it can be the most important.

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Assumptions, I like to start with listing our assumptions of our target market.
This would include the demographics we have on them and our potential reach or
accessibility.
Competitors, be sure to list your top competitors in the market, so you know to
stay up on what they are doing.
Here are some tips in regards to competitors:
1. Sign up for Google alerts and be alerted anytime they do anything online.
This will keep you informed of their activity, strategies, and what they
might be doing well.
2. Be sure to reverse engineer what they are doing with marketing and see if
you can build upon that.
Channels
In this section, you want to list the various marketing methods or channels you
plan to use. Be sure to list why and the data behind each channel that validates
using it.
Here is a short list of marketing channels to consider for your business along with
some tips on each. Just remember, you can use one, several or all these channels
based on what you find out on your reach to access them through various
channels.

Referral Marketing
You can use referral marketing when customers, friends, and business
associates refer business to you and often times you compensate them in
some way. Identify those customers, friends, and businesses you could
target for referrals and list the potential.

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Networking
Along the lines of referral marketing attending networking meetings,
business meetings, trainings, events, and seminars that you can network
your business. You can probably make a list of potential events that your
target market may reside or businesses and people who have that target
market in their database.

Direct Mail
At the end of the day, people still love to get mail and if you can be creative
in your mailing, you can bolster response rates.
The key is using data list that can get in front of your target market, and
today, many of the list brokers are also direct mail fulfillment houses.
If you are using direct mail, consider the strategy and process to convert
the prospects. I like to go through a process of exposure by getting
attention (direct mail piece), then capturing the lead (getting them to give
me their info), bonding with them (with case studies, testimonials, proof),
and then asking for the sale.

Other Print and Conventional Marketing


This includes:
o Newspaper advertisement
o Phone book advertisement
o Radio advertisement
o TV advertisement
o Event sponsoring
o Tradeshow exhibiting

PPC

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Pay Per Click can be a very effective strategy of spending money on


keywords with Google or other search and social platforms to drive
targeted website visitors. For a long time I didnt like to do this until I was
able to access the next channel below.

Retargeting
The practice of placing ads in front of previous website visitors on other
sites after they have visited yours. This is very effective in increasing
conversions after the initial visit if they dont convert the first time. You
can literally follow them around online and place ads in front of your
visitors until they convert.

Email
Using email marketing, you can get your message directly in front of your
target market. If you choose to have a website you can capture leads and
email them or you can do solo ads.
Solo Ads is the practice of paying email list owners in your niche to send
an email for your offer on your behalf. I like to have them email them to a
specific give away to capture their information first. I also like my emails
to be solo, meaning nothing else is promoted in the email accept my offer
exclusively.
Doing a simple Internet search for solo ads with your niche keyword
should generate some results of providers. My client mastermind covers
this topic extensively as well.

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Articles/ Blogging
This is also called content marketing and goes with authority-type
websites. The key here is capturing prospects information. (I also want to
stress that an authority website doesnt necessarily need to be the same
website you sell from.)
Content can be information, news, tips, articles, reports, and videos. The
key is to be consistent with providing this information and getting it to
your target market through some of the other aforementioned marketing
channels.
Prospects will be much more likely to view your content and messages
about your content than a product offer. In fact, we have found in some
cases that the engagement rate is three to four times greater. This can
work well in combination with some other marketing strategies.

SEO
This channel is the method of making sure your website and content on
the website is keyword-optimized naturally to the search engines. This
means making sure you are search engine optimizing your pages, post,
content, and pictures with your target market keywords.
This is why authority marketing is so powerful.
Many people try to crack the SEO code and see if they can find loopholes
to move higher in the search engine results. However, I wouldnt do this as
eventually the loophole methods get closed and the search engines
penalize websites using those methods, thus becoming a
counterproductive strategy. Your safest option is to stay within the

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guidelines of the search engines.


I have included a report on my website to help you better understand SEO
if this is a channel you want to use.

Social Media
Social media is an incredible channel and involves additional sub channels
as you consider which social platforms your target might preside and how
reachable they are.
Each of the social platforms has search options and most have
advertisement options. Better yet, many have communities you can build
and message at no cost. These communities are very similar to text and
email communication options when you own the communities.
I like to leverage the social platforms community building, subscribers,
followers, and fan options. The key is when the social platforms roll out
with new features and options is to think about how you can build
engagement. Then, after engagement, think about how you can get your
message in front of them.
Lastly I will say that social media is about engagement, then conversion.
The key to engagement is to give people a voice around common beliefs,
feelings, and emotions. Note I am not necessarily saying that is your
product or service, by providing the vehicle for your target market to voice
on topics you have secured a lead source. These communities dont even
need to be directly related to your product, but at least indirectly.
For example, we have communities around wealth and finance that we use
to drive to our offers on trading programs and wealth programs. However,

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these products or services are never mentioned on the front end.


The same goes for other platforms like facebook. We have communities
dedicated to patriotism and guns. These communities point our prospects
back to our long-term food business and ammo business.

Joint Ventures
This channel uses the concept of leveraging a broker who works to arrange
a mutual win/ win with other product or list owners who may benefit from
your offer or list. The broker doesnt get paid unless business is generated
from the introduction. So leveraging a Joint Venture Broker may be ideal
for you. A simple search online and you may be able to find a broker for
your business.
My companies have worked with Joint Venture Brokers extensively and we
have trained hundreds of brokers. If you would like an introduction, you
can request a broker introduction on my website.
Joint venture brokers can get paid anywhere from 5% to 40% of the profits
on deals they generate for you. When you look at various marketing
channels, this is one often overlooked. There are brokers who specialize in
both online and offline business.

Alliances
This is similar to Joint Ventures, but in this role you may work with a
similar product or service provider whose customer or prospect would be
ideal for your service.

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In an alliance relationship, you both agree to refer business to each other


and often times do marketing campaigns together.

Local Groups
Local groups would be things like your local business chapter, BNI,
chamber of commerce, meetups, and local events.
The key to local groups is to remember the idea of givers gain. Meaning by
giving at the local meeting level you can usually gain long-term support for
your business referrals.

Branding Strategy
Branding is vital to your business and developing that in your business plan is
just as important.
Once you decide on a business, it is important to secure the brand name,
domains, and social accounts. It is also important that you research the brand
name, domains, and social profiles to see if the name is taken already before you
finalize the concept. If it is taken then you dont want to end up with a .biz or
modified social account name.
Taking a modified name online or not being able to secure a .com will affect your
business. If you are so in love with the name that you do it anyway, just realize
people will judge your entire business by that.
You can get basic concepts and designs done through various websites online.
Just search for graphic design service and you can get something turned usually
for a few hundred dollars.

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Deadlines/ Goals
This section of your plan should lay out what your goals are over 6 to 36
months along with deadlines to complete various task to get the business
up and running.
You should be considering deadlines such as:

How long you will take to get your office setup.

Timeline for finishing your business plan.

Timeline to complete marketing materials such as website,


business cards, flyers, and ad placement.

Timeline to before you start promoting your business.

Some goals you should consider to establish are:

Number of sales calls.

Number of prospects you will expose to your business.

Monthly sales goals.

Monthly marketing actions such as content creation, post, and


touches.

I like to set mini goals in my personal and professional life. Mini goals may be
something as simple as achieving a few things in a day that allow for a win. By
creating little wins throughout the day and week, you can then achieve bigger
goals. More importantly mini goals compound over time allowing you to apply a
slight edge principle that results in big results over time.
The slight edge principle works both ways in positive and negative ways. By doing
something over a long period of time the results will begin to show up.

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Budget and Projections


A forecast can be generated after you have done market research including typical
conversions based on various marketing channels you select to use and setting
realistic goals.
Forecast
When you develop a forecast, it is best to show projections for 6 months, 12
months, 24 months, and 36 months out. This will allow you to measure your
activity and see how you are doing.
It is important that the forecast relies on data that demonstrates typical
conversions for your market. This would mean for example if you send out a
converting direct mail piece, the typical response rate is X and the typical
conversion to sales is X.
Using historical data on various strategies and industries can help you project the
future results.
Budget
With a forecast comes a budget detailing your expenses. It is important not to put
expense projections on the sheet just to add things. Be realistic about what you
need.
Here is a short list for what should be included on the budget.

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Marketing Cost
When considering marketing cost, it is important to have decided on
marketing strategies that generate an ROI, Return on Investment. This
means deciding on measurable strategies you can track.

Office Needs
Office needs should be minimal.

Travel cost
Travel cost may be needed if your marketing channels selected would
produce the results you need. Meaning you should always make sure it will
pay off in the short term or long term for your business for making the
trip.

Internet Related
Internet costs would include website hosting, domain, email, and other
Internet tools you may need.

Health Care
You should account for any needed medical expenses. Research alternative
health care options available in the market. There are several options
available.

Salary/ Draw
You need to determine the amount of money you need to live off of until
you get your business up and running. Remember how much money you
will save not working for an employer.

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What About Funding?



Now the great thing about starting a home business is the fact you can start many
home businesses with very little funding. If you are short on funds then you
should look at various options I have listed in the book whose costs are minimal.
Things like buying a business with money up front may not be ideal for you if you
dont have the ability to still make ends meet as you get started. But the great
thing is you can start with a low cost startup and then move into other businesses
that require significant funding up front later.
When starting a business many lenders want to extend you credit for things such
as computer purchases, equipment purchases, and even vehicle purchases.
Additionally many credit card companies have business credit cards for startups
that allow you to build business credit and credit lines for the business.
If you know you are going to need funding beyond your means and your business
idea is really solid then it comes down to other sources. You can begin the process
of other sources I am listing below if you have a solid business plan. Without a
solid business plan you will probably not get the time of day or lose their interest
the moment you show a poorly laid out plan. What is a poorly laid out plan, well
without you being in business for a long time it could be just one minor error.
That one minor error could lose you the funding deal.
If you seek outside funding, I would recommend you put together the initial plan,
then approach Master Plans to put the business plan in the possible position.
They will probably re-due the whole thing that is exactly what you want. However
if you dont do one first you will not be able to answer their questions or
understand how they are trying to put you in a better position to secure funding.

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So here are your outside funding options:


Venture Capital
Venture capital comes from investors who have money they are looking to place
into startups. They typically want a piece of the company; some want to keep a
piece of the company and have a payment schedule when the company starts
turning a profit. Others want a piece of the company and a payout schedule, and
once the payout schedule is complete they sell their position of the company and
you can buy it back.
The venture capitalist basically owns equity in the company and is willing to take
the risk with you if they believe in you, your business plan, and the niche. Some
investors focus specifically in particular niches so finding them is usually not too
difficult.
Today you can use websites like Fundable.com to raise money as well. Going
online to search you can find many sources. Just remember to get a quality
business plan together before you do anything else.
Loan
Typically, loans can come from banks or private lenders and in this case they
usually require collateral, meaning they want to put a lien on some portion of
assets that you have in order to secure the loan. Additionally they will begin to
require payments likely before you are generating profits.
In this case, if the business doesnt succeed and you cant continue to pay for the
loan, they will take the asset you put up as collateral.
Partner

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With a partner you invite one or more people to join with you and with this come
many aspects to look at. Partners can bring money to the table, be involved day to
day, have an officer position in the business, and have a percentage ownership.

Some things to think about with partners:

Do they have the same beliefs as me?

Do they have good work ethic?

Do they understand the reward and risk involved?

How will we resolve conflict?

Who will be ultimately in charge?

Sign an official agreement to terms and roles in the partnership.

I personally dont go down the path of partnerships, as I like to work from home,
and be free to make decisions based on my beliefs and convictions. Partnerships
make things a bit complicated.

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Do I Need A Lawyer, Accountant, or Consultant?


So do you need a lawyer, accountant, or consultant? Probably. I like to have my
documents and agreements reviewed, ask tax questions, and even talk to business
coaches.
I currently use a service for all my legal needs and business questions that costs
me less than $100 per month called Legal Shield and Go Small Biz. The service is
great because if you are in the US is covers all the states. Whenever I call the
office, they return my call back the same day and put me with an attorney who
specializes in the area I am questioning. When I have business strategy questions,
I call their office for that as well and they assign an expert in that field to call me
back. They also will do research on my questions if it requires a more in depth
answer.
I have had this service for years and most people dont know it exists.

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The Future- What Does it Look Like?


During this book I have shared my personal beliefs, tips, and ideas along with
practical considerations for working from home. In this final chapter before I
share the resources I like to use, I would like to share some closing thoughts to
help you along the way.
So what if you fail?
Have you thought about it and wondered how you would handle it? I am here to
tell you I have failed many times, just like other great men and women in the
past. The question is, will you rise above failure, realize it is part of the experience
and press on to new heights of success?
Such times are opportunities to learn from my experience and decisions. It is a
tremendous opportunity for growth.
Here is one thing about failure that I have never allowed to creep in my mind. I
dont ever say I am not cut out to work from home. That is simply a lie from the
system that has trained you to be dependent on big government and others rather
than on your own efforts in combination with your faith.
The lie of not being cut out to work from home steals your dreams, freedom, and
the idea of spending more time with the ones you love most.

Sharpen the Axe


Give me six hours to chop down a tree and I will spend the first four sharpening the
axe. - Abraham Lincoln

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I am a firm believer in personal development, trainings, books, seminars, and


events. Each week I set time aside to sharpen my knowledge, to learn, to expand,
and get an edge in the marketplace.
With sharpening the axe comes the key ingredient of taking time to sharpen
yourself physically, spiritually, and emotionally as well. I have found the more
time I spend making myself better (not in a selfish way) so those I care about can
experience the best me, my life and business is enriched. My mind is clearer, my
decisions are better, and my energy is performing at peak levels.
The magic of part time
You may be facing a scenario that you need to transition into working from home.
Therein comes the magic of part time: by working part time on your business you
can work full time on your income. Who says you need to quit your job
completely unless you have the resources to do it and have a solid business plan
in place?
You can start today working towards your goal of working from home.
Family Economics
Today you and I have an opportunity an opportunity to fundamentally shift the
way economics and families are approaching life. I truly believe the system today
is bankrupt not just financially, but morally and relationally. When you look at
the system of education and the current economic engine. They breed rebellion,
dissatisfaction with life, unhealthy desires, false ideas, and gray areas of ethics.
You say is that the education system or the economic engine? Its both.
We can change that. We can build home businesses that breed respect,
happiness, healthy desires, level heads, sound minds, and people of character.

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Our families will be better for it, our kids will turn out better, and we will be
better for it.
I dont know about you, but I am tired of the western way of thinking when it
comes to family and business.

Who said that sending your kids to an education system to be


indoctrinated with belief systems that you dont agree with is ok?

Who said you needed a college education with $25,000-plus in student


loan debt?

Who said you should get a cushion 40 hour a week job along with your
spouse and spend the majority of your lives away from each other?

Who said you should be sending your kids to day care?

What makes this ok? Because everyone else is doing it and it is all you have ever
known?
The product of this type of culture is clearly evident. We have broken families,
kids rebelling, and people dissatisfied now more than ever with both a financial
and emotionally bankrupt world.
I believe working from home is a great benefit and challenge. The benefits we
have outlined and the challenge is for us to rise to the occasion and fight for our
freedoms, our families, and our future.
It is time to Work from Home.

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Top Recommended Tools and Resources


Below is a list of tools I use or have used for my businesses. Do your research and
look them over, some will save you incredible amounts of time, resources, and
headaches.

Customer Support
o Online Management
o Call Center

Contact Management
o Email Subscribers

Website
o Hosting
o Design

Wordpress Website Themes


o For Ecommerce
o For Authority

Wordpress Plugins
o All In One SEO
o Redirection
o Flare Social Share

Payment Processing

Media Buying
o Direct Mail
o Email Ads
o Press Releases
o Website Visitors

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Now that you have made it to the end, I hope you have found some nuggets of
information to help you in working from home. Be sure to connect with my on my
website as I always like to share marketing tips, sales strategies, and personal
points of view on family economics.

All Resources mentioned in this book are located here:


www.theworkfromhomebook.com/resources

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