by Susanne Scott

Created on: June 17, 2009

You can become a successful entrepreneur turning your hobbies into a profitable home business. A bit of determination, a willingness to change and a few simple lessons can get you started in the right direction.

In any business there are certain irrefutable laws that, when followed, make the difference between unlimited income potential and trying to explain to the IRS that although your income is zero, you are, really sir, running a business and entitled to those deductions. A home scrapbooking business, when pursued professionally, is an example of turning a wonderful hobby into a money making endeavor. Many women entrepreneurs get into a scrapbooking business because they love the hobby and have a large network of friends who enjoy it also. While this experience is a valuable asset, some additional professional business knowledge will turn a hobby into a full time income.

It is not necessarily talent that makes a winner, it is attitude. Persistance, determination, and a willingness to learn from mistakes are all hallmarks of the truly successful entrepreneur. These seven secrets, if they are consistantly implimented can be the foundation for developing a winning attitude:

1. Be willing to change your thinking by associating with successful people. Someone once said: who you are in five years is determined by the books you read and the people you hang around with. If you want to be a successful small business woman, you need to get around people more successful than yourself, the people who already have what you want. Learn their habits, attitudes and secrets. Read books by and about successful business owners. If you do only one thing, make it this one. Those successful people will teach you the remaining six secrets.

2. Become a specialist. It may seem more profitable to appeal to as many people as possible but in the global marketplace of the Internet, it is crucial to find a highly targeted niche. If your customer base is only in your town or city you would have to be all things to all people, since the size of the market would be fairly small. Today, with the Internet, the number of consumers is infinitely bigger but the competition can be intense. Ideally you should choose a very small, very specialized market, to attract a specific customer, so...

3. Find a group you can relate to and understand well. You might list all the groups you belong in because of your background, ethnicity, experiences or culture. Using the scrapbook business example: empty nesters,

• 1
• 2
• Next Page >>