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Warning: Avoid These 7 Mistakes When Building a Home Based Business

Warning: Avoid These 7 Mistakes When Building a Home Based Business

Building a home based business, or an online business, around your passion is tough. There are a lot of mistakes you can make. And some of those mistakes can end up costing you thousands of dollars. On top of that, some of the things can lead to hundreds of hours of frustration.

I know, because I’ve been there and done that.

I banged my head against the wall for several years. Eventually things did click, and I am now making a living doing what I love, but it wasn’t easy. That’s why I want to share some of the most common mistakes with you, so you don’t have to make them.

So let’s jump right in.

1. Where’s the Problem?

Even if you find your passion, you still have to provide value. You have to help people in some way. You have to find the intersection between what you love to do , what people are willing to pay for, and what you’re good at.

In short, you have to find a problem to solve.

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People don’t really care about you, they care about themselves. They are constantly asking themselves, “What’s in it for me?” If you can answer that question, you’re on the right track.

2. Fear

You’re too old, too young, your voice is weird, you can’t write, you can’t market, whatever it is, it’s in your head and holding you back. Fear holds everyone back.

And fear can crush your dreams, if you let it.

Fear held me back for years, until I got so sick of it that I took action anyway. I was willing to at least try and see what would happen. And do you know what happened?

Nothing.

The fear eventually disappeared as I moved forward. The key is to jump in before you’re ready. Don’t wait for the stars to align.

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Start now.

Not tomorrow. Not someday. But right now.

3. Technical Mishaps

The choice of software is huge when starting a home based business around your passion, especially an online business. Picking the wrong software can cause frustration down the line.

For example, you need a website to attract customers, and that means you need something to run your website, unless you’re proficient at HTML and want to do it the old-fashioned way. The best option for this is WordPress.

Then you need to build your email list. The best option for this is Aweber, although there are a few others out there that are solid as well. The best way to pick the right software is often to go with what is the most popular. However, beware of spending too much time trying to get things perfect.

4. Impatience

Then we have impatience.

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You’re most likely not going to build a 6-figure business in 6 months, no matter what some marketers promise you. If you want to build a real home based business, you have to be willing to put in the work. This is a long-term game, and if you’re looking for a quick-fix, you’re reading the wrong article.

Focus on building a business that sustains you, not on making a quick buck.

5. Not Seeking Help

Don’t try to reinvent the wheel.

If you want to make rapid progress, find a coach or join a training course. Learn from those who have gone before you and know what they are doing. I’ve worked with people in every field I’ve gone into. When I started off as a professional poker player, I read books, I took courses, and I worked with successful poker players.

When I ventured into online business, I made the mistake of trying to learn everything myself at first. I eventually came to my senses and found someone I could learn from. Invest in your education and progress. You don’t have to spend years banging your head against the wall.

6. Lack of Focus

Another big mistake is not knowing what to focus on.

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This is one of the reasons I recommend you learn from someone who knows what they are doing. They can help point you in the right direction. They can help you focus on tasks that give you the most results.

When I work with clients, the first thing we do is simplify everything. We eliminate what isn’t necessary, and we focus on what produces results. For example, when you start your business, you need to focus on one metric, and that is revenue. You need to bring in more money.

Obviously, you can’t focus everything on making more money, because you’re dealing with human beings. But that’s a topic for another article.

7. Fear of Failure

Last, but not least, you have to fail in order to succeed.

You cannot figure out the perfect formula before you start, so don’t even try. You’ll drive yourself insane. Most successful entrepreneurs aren’t better or smarter than you are. They just don’t give up. They keep trying until they succeed.

And that’s exactly what I did. I spent the first 2-3 years failing until things clicked. If you want to build a successful home-based business around your passion, you have to be willing to fail, and you have to be willing to take action.

And most of all, you have to be willing to face your inner demons.

Featured photo credit:  Young man at home using a computer via Shutterstock

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How to Find a Profitable Niche for Your Online Business Warning: Avoid These 7 Mistakes When Building a Home Based Business 8 Simple Tips for Eliminating Excuses When Starting an Online Business Around Your Passion A Simple Guide to Find Your Passion (And Building a Business Around It)

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Last Updated on April 6, 2020

How to Make a Career Change at 50 for Great Opportunities

How to Make a Career Change at 50 for Great Opportunities

Turning 50 is a milestone in anyone’s life, after all you are half way to 100! But seriously, turning 50 is often a time in life when people can sit back and take a look at where they’ve been and contemplate what the future holds.

Can you change careers at 50? It’s not uncommon for people in their 50’s to consider a career change, after all if you’ve spent 20 to 30 years in a career, chances are that some of the bloom is off the rose.

Often, when we are starting out in our 20’s, we choose a career path based on factors that are no longer relevant to us in our 50’s. Things like our parents’ expectations, a fast paced exciting lifestyle or the lure of making a lot of money can all be motivating factors in our 20’s.

But in our 50’s, those have given way to other priorities. Things like the desire to spend more time with family and friends, a slower paced less stressful lifestyle, the need to care for a sick spouse or elderly parents can all contribute to wanting a career change in your 50’s.

Just like any big life changing event, changing careers is scary. The good news is that just like most things we are scared of, the fear is mostly in our own head.

Understanding how to go about a career change at 50 and what you can expect should help reduce the anxiety and fear of the unknown.

What are Your Goals for a Career Change?

As in any endeavor, having properly defined goals will help you to determine the best path to take.

What are you looking for in a new career? Choosing a slower less stressful position that gives you more time with family and friends may sound ideal, but you’ll often find that you’re giving up some income and job satisfaction in the process.

Conversely, if your goal is to quit a job that is sucking the life from your soul to pursue a lifelong passion. You might be trading quality time with family and friends for job satisfaction.

Neither decision is wrong or bad, you just need to be aware of the potential pitfalls of any decision you make.

Types of Career Changes at 50+

There are four main types of career changes that people make in their 50’s. Each type has it’s unique set of challenges and will very in the degree of preparation required to make the change.

Industry Career Change

In this career change, a person remains in the same field but switches industries.

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With an industry change, a person takes their set of skills and applies them to an industry that they have no previous experience in.

An example would be a salesperson in the oil and gas industry becoming a salesperson for a media (advertising) company. They are taking their skill set (selling) and applying it to a different industry (media).

This type of career change is best accomplished by doing a lot of homework on the industry you want to get into as well as networking within the industry.

Functional Career Change

A functional career change would be a change of careers within the same industry.

For example, an accountant at a pharmaceutical company who changes careers to become a human resources manager. It may or may not be with the same company, but they remain within the pharmaceutical industry. In this case, they are leaving one set of skills behind (accounting) to develop a new set (human resource) within the same industry.

In a functional career change, new or additional training as well as certifications may be required in order to make the switch. If you are considering a functional career change, you can start by getting any training or certifications needed either online, through trade associations or at your local community college.

Double Career Change

This is the most challenging career change of all. A person doing a double career change is switching both a career and an industry.

An example of a double change would be an airline pilot quitting to pursue their dream of producing rock music. In that case, they are leaving both the aviation industry and a specific skill set (piloting) for a completely unrelated industry and career.

When considering a double career change, start preparing by getting any needed training or certifications first. Then you can get your foot in the door by taking an apprenticeship or part time job.

With a double change, it’s not uncommon to have to start out at the bottom as you are asking an employer to take a chance on someone without any experience or work history in the industry.

Entrepreneurial Career Change

Probably one of the most common career changes made by people in their 50’s is the entrepreneurial career change.

After 20 to 30 years of working for “Corporate America”, a lot of people become disillusioned with the monotony, politics and inefficiency of the corporate world. Many of us dream of having our own business and being our own boss.

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By this time in our life, we have saved some money and the financial pressures we had with young children have passed; so it’s a perfect time to spread our entrepreneurial wings.

Entrepreneurial career changes can be within the same industry and using your existing knowledge and contacts to start a similar business competing within the same industry. Or it can be completely unrelated to your former industry and based on personal interests, passions or hobbies.

A good example would be someone who played golf as a hobby starting an affiliate marketing website selling golf clubs. If you are considering an entrepreneurial career change, there are a lot of very good free resources available on the internet. Just be sure to do your homework.

Practical Tips on Making a Career Change at 50+

So you’ve decided to take the plunge and make a career switch in your 50’s. No matter what your reasons or what type of a career change you are embarking on, here are some helpful hints to make the transition easier:

1. Deal with the Fear

As stated earlier, any big life change comes with both fear and anxiety. Things never seem to go as smoothly as planned, you will always have bumps and roadblocks along the way. By recognizing this and even planning for it, you are less likely to let these issues derail your progress.

If you find yourself becoming discouraged by all of the stumbling blocks, there are always resources to help. Contacting a career coach is a good place to start, they can help you with an overall strategy for your career change as well as the interview and hiring process, resume writing / updating and more. Just Google “Career Coach” for your options.

I also recommend using the services of a professional counselor or therapist to help deal with the stress and anxiety of this major life event.

It’s always good to have an unbiased third party to help you work through the problems that inevitably arise.

2. Know Your “Why”

It’s important that you have a clear understanding of the “why” you are making this career change. Is it to have more free time, reduce stress, follow a passion or be your own boss?

Having a clear understanding of you personal “why” will influence every decision in this process. Knowing your “why” and keeping it in mind also serves as a motivator to help you reach your goals.

3. Be Realistic

Take an inventory of both your strengths and weaknesses. Are your organizational skills less than stellar? Then, becoming a wedding planner is probably not a good idea.

This is an area where having honest outside input can be really helpful. Most of us are not very good at accurately assessing our abilities. It’s a universal human trait to exaggerate our abilities while diminishing our weaknesses.

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Requesting honest feedback from friends and co-workers is a good place to start, but this is another area where a career coach can come in handy.

4. Consider an Ad-Vocation

Sometimes, making a career change all at once is just too big of a change. Issues like a severely reduced income, geography and lack of benefits can all be impediments to your career change. In those cases, you may want to start your new career as an ad-vocation.

An ad-vocation is a second or ad-on vocation in addition to your primary vocation. Things like a part-time job, consulting or even a side business can all be ad-vocations.

The benefit of having an ad-vocation is being able to build experience a reputation and contacts in the new field while maintaining all the benefits of your current job.

5. Update Your Skills

Whether it means acquiring new certifications or going back to school to get your cosmetology licence, having the right training is the foundation for a successful career change.

The great thing about changing careers now is that almost any training or certifications needed can be free or at very little cost online. Check with trade associations, industry websites and discussion groups for any requirements you may need.

Learn How to Cultivate Continuous Learning to Stay Competitive.

6. Start Re-Branding Yourself Now

Use the internet and social media to change the way you present yourself online.

Changing your LinkedIn profile is a good way to show prospective employers that you are serious about a career change.

Joining Facebook groups, trade associations and discussion boards as well as attending conventions is a great way to start building a network while you learn.

Here’re some Personal Branding Basics You Need to Know for Career Success.

7. Overhaul Your Resume

Most of us have heard the advice to update our resume every six months, and most of us promptly ignore that advice and only update our resume when we need it.

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When making a career change, updating is not enough; this calls for a complete overhaul of your resume. Chances are that your current resume was designed around your old career which may or may not apply to your new goals.

Crafting a new resume emphasizing your strengths for the new position your looking for is key. There are many places that will help you craft a resume online and it is a service included with most career coaching services.

8. Know Your Timeline

There are a lot of factors when it comes to how long it will take to make the career change.

Industry and Functional career changes tend to be the easiest to do and therefore can be accomplished in the shortest period of time. While the Double Career Change and the Entrepreneurial Career Change both require more effort and thus time.

There are also personal factors involved in the time it will take to switch careers.

Generally speaking the more you are willing to be flexible with both compensation and geography, the shorter time it will take to make the switch.

Final Thoughts

Changing careers at anytime can be stressful, but for those of us who are 50 or above, it can seem to be an overwhelming task fraught with pitfalls and self doubt.

Prospective employers know the benefits that come with more mature employees. Things like a wealth of experience, a proven work history and deeper understanding of corporate culture are all things that older workers bring to the table.

And while the younger generation may possess better computer or technical skills than us, if you’re willing to learn, there are a ton of free or nearly free resources available to you.

Deciding on a career change at 50 is a great way to experience life on your own terms.

More Tips for Career Change

Featured photo credit: rawpixel via unsplash.com

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