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A home based business requires many different keys to success but without the 3 P’s, promotion, patience and persistence, your work from home business will fail. Many entrepreneurs go in to owning their own business with less of a commitment than they realize. Avoid the dangers of frustration by the following suggestions.Promotion is the source of energy that drives your business. It does not matter where you operate your business whether online or in the real world you must promote that business. Your business will hunger every day for more people either walking in your real door or your virtual door at your location. If you talk to everyone about what you work at home doing, you will create and endless stream of traffic.Your goal daily is to have 10 quality conversations with people about your business. This can either be face to face, by phone or online but it must happen every day. Also you need to uses either free or paid source to promote your business to people you would meet no other way.Patience must be administered daily as you will see many opportunities to turn away from a work at home career that you may love. Remember it will take time to build a great business. The goal of every business owner should be to add customers every day to your business. If you will use this as your measure of success in the beginning of your home based business it will grow exponentially. If you use profit as your yard stick you will find yourself not spending needed money to maintain a profit.If you add 5 new customers to your business every day the first 2 years, you will have created 3650 loyal followers of your company. So keep track of who your customer are and find reasons to communicate with them. And if you can average generating $10 in profit off of each customer you nave every month your home based business will not just survive but will thrive.Persistence is important to building a network of customers that will promote you. You must be involved every day in helping build a home based business that your friends and customers want to promote. Your customer base can be the engine that keeps your business growing and not cost you money in advertising. One of my current businesses is a residual based business that works with brick and mortar businesses. I get paid monthly from these merchants for the services that we provide. About 2 years ago I finally could not find the time to go out and recruit customers on my own because of the number of leads that my customer base was giving me. I now have a personal assistant that helps me take care of these leads.Showing up every day and build your business every day no matter where you may be will lead you to success. Never stop never quit growing your work home based business. You will love to work at home.The find out more success secrets check out my resource box below.

Everyone agrees on a broad level that small businesses are vital to the American economy. However, most people would be surprised to know just how important. The United States Small Business Administration keeps records and statistics on small business in the United States and some of their findings are surprising.

First, the typical perception of a small business as a mom and pop operation with just a few, if any, employees is not the entire picture. The Small Business Administration defines a small business as an independently business with less than 500 employees. There are an estimated 23 million businesses in the United States that meet that classification. In some smaller towns in the United States, these businesses represent a major source of employment.

In fact, small businesses as defined by the Small Business Administration represent 99.7 percent of all the employers in the country and employ half of all private sector employees. More than 45% of the private sector payroll is generated by small business. Over the last decade small businesses have accounted for 60 to 80% of all new jobs created on an annual basis.

Although a large percentage of small businesses are in the retail and service sectors, small businesses are rapidly making gains in the technology sector. 41% of high tech workers like engineers, scientists and computer programmers are employed by small businesses. Employees at small businesses produce 13 to 14 times more patents than those employed by larger companies.

The Small Business Administration also offers some interesting observations on small business survival. Two-thirds of small businesses survive for at least two years declining to 44% after four years. Most of the factors that support a small business surviving are well known, such as access to capital and owner’s education level. However, a lesser known factor in small business survival is that the business is large enough to have employees.

Similarly, barriers to starting a small business include lack of access to start-up capital and lack of education. However, the number one barrier to small business start up and a primary concern of existing small business owners is access to private health insurance. Individual health insurance for sole proprietors is much more expensive than receiving coverage through an employer. If a small business owner is able to offer health insurance to its employees, the administrative and premium costs are often much higher than those for larger businesses.