(http://www.google.com) is arguably the most exciting firm to not only survive but also thrive after the dot-com meltdown of the late 1990s.
When we examine Google’s fundamental advantages and business practices, we find that its stratospheric rise to the top of the Internet is not at all surprising given that it first operated as a small business with just three employees in a friend’s garage.
I am a huge Google lover.
In order to gain knowledge from achievement, I also enjoy studying it.
As a home-based business owner, you can learn the following important lessons from Google:
Money Is Not Everything
For someone who is new to the world of home-based businesses, this fact could be difficult to accept.
After all, increasing capital investment would free up more funds for marketing and setting up a home business.
It can be tempting to imagine how your company would be operating right now if you had, say, $100,000 to work with at the outset as opposed to the modest $1000 you struggled to raise by selling items around your house.
But there is one thing that is more crucial than money…
Getting the most of the resources at your disposal, getting the most of every advertising dollar, and seeing every client as a potential consumer are all examples of being inventive.
Money wasted on capital that is in the wrong hands, such as those of a novice marketer or entrepreneur.
On the other side, creativity may turn a $1,000 investment into a successful enterprise.
And absolutely, any more capital you receive would be worth much more if you got the inventiveness part right.
Think creatively to stand out and succeed.
Any genuinely successful business, particularly in the case of Google, must demonstrate innovation, the capacity to think outside the box, and a willingness to test theories and learn from mistakes.
Because Google gave 1G of space when Gmail (http://www.gmail.com) was just introduced, several ISPs and email providers rushed to expand the amount of space available for their free email accounts.
But they failed to see that Gmail was about more than just storage.
So how did Google stand out?
They made something far more out of what would have otherwise been just another email service.
It is the best way to save, organize, and find information included in emails, as any user will attest.
Gmail makes it simple to keep track of business responses and follow-ups.
If you don’t trust me, try it for yourself.
The word “saturated” causes many home-based business owners to shudder, especially those who operate in network marketing.
Every person in a network marketing setting may, at some point or another, realize that there are many others with possibilities and items comparable to their own, and that the products they are required to sell can be in highly competitive markets.
I’ve experienced that feeling before, however, the actual query is: what can you provide?
A friend of mine recently promoted the cosmetic items provided by her network marketing business by offering free facials and beauty consultations after completing her course in cosmetics.
She easily defeated the competition by doing things that the majority of people at the time were not doing.
So, what can you add to your home-based business to set it apart and make it distinctive from the competition?
Provide your clients with exactly what they desire.
Because they offered marketers exactly what they needed, Google’s AdWords (http://adwords.google.com) and AdSense (http://adsense.google.com) programs have been successful.
Adwords fulfilled marketers’ need for a rapid, results-driven, and dynamic advertising solution.
Owners of websites wanted to increase their advertising revenue but did not want the effort of managing it across their hundreds of pages, so they turned to Adsense.
Understanding what your customers want and giving it to them is a relatively easy technique.
In my former network marketing company, my ex-sponsor used to tell me that in order to sell their nutritional supplements, I needed to convince people that these products could help prevent a wide range of dangerous ailments.
Prevention is preferable to treatment.
But here’s what I’ve discovered after a few years: the majority of people want remedies rather than preventative measures.
Educating people about prevention may be a wonderful act, but it is not always how the world operates.
Most people first start looking for a home-based business when they are laid off, run out of money, or retire.
So why not match this need with your recruitment efforts?
Why not create a specialized market around this group of people?
Wouldn’t your message be more effective if you taught them how to generate a decent retirement income or how to replace their present income rather than educating them about residual income and the power of duplication, which they are not interested in?
The key takeaway is that, in order to successfully operate a home business, you must be aware of the needs of your target market.
Instead of emphasizing prevention, you should concentrate on becoming the best at providing the cure.
The demands of your customers should be your main priority.
Have you had any fun?
Google is enjoyable in all respects.
Don’t get me wrong, though.
They are currently the most creative business, if not the most.
Every corporation should be envious of them for being able to communicate their complex technologies to end customers in such an easy-to-understand manner.
Have you ever heard someone lament the difficulty of using Google search?
However, as an Internet marketer, I sometimes drive myself crazy by attempting to decipher the complexity hidden in the plain white page and squiggly logo.
Leave the complexities of a network marketing or home-based business in the background.
Teach people how to enjoy themselves as they accomplish their goals and expand their businesses.
If you demonstrate to them that you are having fun, they will join, buy from you, or, at the very least, tell someone else about you and your interesting venture.
It won’t seem like work at all when you’re having a good time. ‘
Don’t you agree that everyone could use a bit more fun in their lives?
Concentrate on Your Main Competency
Yes, this is just another cliche used in the business world, but how many business owners actually put it into practice?
As a home-based business owner, you might need to look into additional revenue streams.
There is nothing wrong with it, but there is a catch: stay away from money, especially if it has nothing to do with what you are doing.
Many people often find additional revenue streams that have nothing to do with their primary home business.
As a result, they become the best and experts in nothing, respectively.
Why work at a fast food restaurant if you manufacture bespoke furniture at home when there are other opportunities to profit from your area of expertise?
Having woodworking workshops, writing a woodworking “how to” book, or even working in sales at a furniture store can be good sources of extra income while establishing your reputation and domain-specific expertise.
Google began as a search engine, and that has largely remained their area of expertise up to this point.
You can be quite certain that search technology will be involved if they investigate new revenue streams or create new items.
And the undeniable outcome of it is that, in terms of search and information retrieval, there is simply no better alternative.
Therefore, there is much that we can learn from Google’s success story.
Google’s success story is, to put it mildly, inspirational, much like the age-old tale of businesspeople who quit school and go on to launch multimillion-dollar enterprises with nothing more than courage and invention.
A story with modest beginnings and tremendous outcomes.
Perhaps in the future, that will be the tale of your life and home-based business.