3 Tips for Building a Business from Home

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What's up guys, it's James here and in today's video, we're gonna talk about three tips that I've got for you guys on how to start your own business and run it from home how to grow a home based business, one that allows you to work from anywhere and be really successful running your own business. So before we dive into everything, I just want to remind you guys, there's a link, as always down in the description down below, I highly recommend that you click the link below where it says earn a full time income managing other people's properties on Airbnb, that is a free training we put together that goes into the full details.

If you have any interest in starting your own business, if you've ever thought, hey, I want to build a business that gives you more freedom over my time, more control, and allows me to spend time with family go and travel more financial freedom, then I highly highly, highly recommend you check out the link down the description below. That's actually a free training completely free, no cost to you where you can register for the training, check it out. And we're going to walk you through step by step by step exactly how you can earn a full time income managing other people's properties on Airbnb, this last year has been crazy for it's gone insanely well. And we're working with over 400 students now helping them to build these incredible businesses that have done incredibly well in 2020 are doing incredibly well in 2021.

They're just really, really strong businesses that provide massive value to their clients. And as a result, you can really quite easily and effectively earn a full time income from this. And it's a really cool business model. Because you can earn this income without having to invest money into any buying properties, renting properties furnished properties, unlike a lot of other businesses where you need to invest a whole bunch of capital to get started, whether it's buying inventory, or whatever else, you know, these big upfront costs are their business.

Airbnb management is a really cool business because it's a business that you can get into without buying any big capital expenses. So really, really great time to get started, I highly recommend checking out the link in the description down below and checking out that free training, where we're also going to give you some tools to help you actually get started and bring on your first couple clients. So check that out. Now, let's get started. Let's talk about my three top tips for starting your own business from home things you want to make sure that you're aware of that you're taking into consideration.

Now my number one top tip is to choose the right business model. Now this is something that I didn't start thinking about when I was first getting started in entrepreneurship first getting started with my very first business, I didn't really consider my business model. And a lot of people might be thinking, well, I don't even really know I'm not entirely clear on what a business model is. And essentially all it is is the different ways that businesses can operate.

There's all kinds of different business models. And it's essentially just the way that your business makes money here fundamental equation for how the business makes money. Now, it's really really important to pick the right business model to get started even more so than the specific product or service you might be offering. You want to make sure that you have a bulletproof business model that allows you to accomplish your goals and isn't going to stand in your way, some business models are going to make it a lot more prohibitive, a lot more challenging for you to actually reach your goals.

And so by just tweaking the business model a bit, not necessarily what you're doing, you know, not your product, not your service. But just by shifting the business model how the business makes money, you can really make a drastic difference in terms of how easy it can be for you to reach your goals.

Now, so for a lot of you guys on this channel, I know a lot of you are watching this video, the goal is to build a full time income. And ultimately, ultimately, to have more freedom, you know, you want to be able to travel more, you want to be able to spend more time with your family, you want to be able to have real control over your schedule and have to report to a boss.

And a lot of us want to have more security too. We don't want to have this boss looming over us who can just decide at any one time that our income is suddenly gone, that we're fired, that we no longer have a job or that we're laid off whatever that might be. And so you want to make sure that you consider all that stuff in selecting your business model. If you want security, then you don't really want to be going into a business model that has a lot of risk attached to it. You know, if you want a business that allows you to have more freedom over your time, you don't really want a business model that's going to be dependent on your time, your time going into it actively managing it ongoing on a long term basis.

You know, if you want to have more consistency in your income, you want to have real good steady income, you don't want to pick a business model that has a lot of one time transactions, you want to ideally pick a business model that has recurring monthly income. You know, these are the things you want to consider when you're starting out. And so that's why on on the b&b management side of it, I really really love that business model. The thing that I love most about it is that number one you can get started without any upfront investment.

You know, you're not putting a whole bunch of money out risk, because a lot of us we start businesses wanting to have more freedom wanting to have more control, and nothing takes away your freedom more than a big pile of debt because the business went poorly, trust me, I know I've been there, I started my own business that I did invest a whole bunch of money into, and it did go belly up. And that left me with a huge pile of debt and feeling less free than I ever had before in my entire life. You know, the reality of that is that now I had to make more money just to be able to get back to a level of zero. And that's not a good place to be in.

So you want to be mindful of the business model. And you also want to pick a business model that allows you to actually grow without it detracting from your goals. Because again, if you have to, we've talked about in other videos on the channel, we've talked about, you know, for example, comparing Amazon air Airbnb management, to Amazon FBA to Shopify drop shipping, that sort of business model. And the challenge with those business models is that you have to invest more money to grow your business to buy more inventory. With rental arbitrage, you talked about that in other videos.

If you want to grow your business and bring on another property, you have to pay first month's rent, last month's rent and a security deposit and actually furnish the property. So there's a big capital outlay that's going to track from the lifestyle you want that's going to detract from the financial freedom component, the reason that you're building this business, so growing your business is at odds with actually achieving what you want in your business.

And so that's not a really great business model. So again, not changing the actual service, the fundamental core service that we're offering between rental arbitrage and managing fee, we're just changing the business model. And it allows us to have a lot more freedom, a lot more control a lot more consistency, a lot more security, way less risk. It's just a huge night and day difference between actually running those two businesses. Again, I've run both businesses, and I'm not saying rental arbitrage is always bad, we do come across the odd unicorn property that makes a lot of sense to rent and then flip over onto Airbnb. But those are few and far between. And so I recommend as well just really minimizing your risk and maximizing your potential upside and maximizing your consistency by having a good base of managing fee properties.

Again, if you want to learn how to do that, then just check out the link in the description down below. That's gonna walk you through step by step exactly how to get started. Even if you have absolutely no experience you might have never even hosted on Airbnb, maybe you've never even stayed in Airbnb before, regardless of where you're at this string is perfect to help you actually get started and earn a full time income managing other people's properties on Airbnb using a really, really great business model. Now, the next thing, the next tip for starting a home based business, starting your own business, managing this from anywhere, is consistency, you have to stay consistent.

Now this applies to whatever business model you choose whatever business you get started. And consistency is always what I tell my students that I work with is the number one factor is going to determine your success. It's not how much work you put in, it's not you know, Gary Vaynerchuk, like, let's go 15 hours a day, let's go to work, it's not grind all the time, it's be consistent, I would rather see someone put in five hours one day, every single week, five days a week and do that for months, rather than see them put in, you know, 15 hours one week, and then go and take a one week hiatus and then come back for another five, and then come back the next week and do another 10 Yeah, might even out to the same number of hours total. But if you're inconsistent with it, then you're really going to be hurting your chances at building up momentum. I've talked in a lot of other videos about the importance of momentum, when you're building your business, it's really, really crucial that you're able to be consistent, so you can build up momentum and get your results to really take that hockey stick curve much, much sooner than if you put in the same amount of time and energy but do it in a much more inconsistent way.

So tip number two is to maintain consistency, I recommend setting a schedule and committing to that schedule and making sure that you do not deviate from it and set aside at least 30 minutes to an hour every single day, five days a week, all throughout the week, if you can do seven even better, keep it a little bit more consistent. And then really that's going to help to really speed up your time to get into your goals whether that's $5,000 a month, $10,000 a month, whatever that might be. Consistency, consistency, consistency, that is tip number two. Now, tip number three is going to be to find a really great mentor, no matter what business you're starting. I still do this to this day when I want to learn something new there is there are times when trial and error makes sense. The Times and trial and error makes sense to go and figure it out and pave the path on your own is when no one has figured it out before you and there are still some novel problems that people are trying to solve and I personally am trying to solve and different businesses that I'm building With.

And so when that happens when you come up to something that no one has ever done before that you're trying to do for the very first time, then you have no other choice but to learn from trial or error. But those are those instances are few and farther in between. And if you're just getting started in business, I really strongly would caution you against trying to do something that's never been done before. Good. Chances are the best business for you to start when you're just getting started, is something that is something that's already been done before and just taking it and using a system using someone's expertise, leveraging that and call it standing on the shoulders of giants, you can achieve a lot more that way a lot more quickly. Once you've got your first business setup, running successfully, you've learned all the ins and outs of it, that is an incredible platform to be able to then go and level up and do the next big thing.

The next big thing, the next big thing can be a lot of fun. But if you're just wanting to build some additional income, or you're wanting to give yourself some more freedom, you're wanting to get started running your own business for the first time, get more security, all those things we talked about earlier than you really want to follow a proven system, get a mentor if you can follow in their footsteps. So when they can show you exactly where those common pitfalls are, and make sure that you don't fall into them. So when they can show you the best way to do something, because they've already gone through the iteration of trial and error, that is literally going to save you months, if not years of your life.

Yeah, otherwise you would have wasted just going and trying to reinvent the wheel. And it's going to save you 1000s and 1000s of dollars and not making these mistakes. And it's going to help make you more money because you're going to do things the right way. And you're going to earn a lot more money be a lot more profitable, grow your business a lot more quickly and effectively than if you were to go it on your own. So I cannot stress enough how important it is to follow a proven system and get yourself a mentor, a giant whose shoulders that you can stand on now when it comes to Airbnb management.

That is what I do. That is what I've been doing for years now. We wrote the book on Airbnb for dummies all about Airbnb, I know what like the back of my hand in and out we're working with over 400 students now all over the world, helping them to earn a full time income managing other people's properties on Airbnb. So if this is a business you want to get into, get yourself into that free training link down below. That is going to be a huge huge goldmine for you of all kinds of valuable information that's going to help you to avoid the pitfalls, it's going to help you to expedite your your success really fast track it get there as quickly as possible, it's going to make sure that you're profitable, that you're growing quickly, you're not making any of those mistakes, and that you really do it as quickly as possible.

That is what I do. That's what I love to do, I would love to work with you and help you and again, that training link in the description down below is completely free. I've even developed a whole bunch of tools for this business to make it work a lot more effectively and be even easier for you to be successful at. And I mean giving you some of those tools completely free when you register using the link down below.

So I highly recommend that you check that out. It's linked in the description how the free training there on how to earn a full time income managing other people's properties on Airbnb. And again, we're going to show you how to do that without buying renting or furnishing any properties. You're not selling any capital. It's an incredible business model I highly recommend you check out that training LinkedIn description down below. So I hope this video has been really helpful for you guys. If you have any questions, thoughts, comments, anything you want to share with me just let me know in the comment section down below and I will see you in the next video.