Using The Lakota Method To Create Your Best Home Based Business

Searching for the best home based business idea for you and your circumstances can be very frustrating. Have you browsed through long lists of ideas, like our huge list of 107 ideas, and found many ideas that are interesting, but not quite right for you?

You are not alone.

The reality is, though, that it is unlikely that you will find your perfect idea customised, personalised and served up to you on a list.

The essence of the problem is that, when you search through lists of home business ideas, you will probably discard ideas that have elements that are relevant to you. If you use a method that keeps these "personal gems" and then uses them to visualise your perfect home business, you will create the right idea for yourself.

To do this, we developed a method we call "The Lakota Method".

Background

The Lakota Indians are native to the Great Plains of North America. They have a symbol depicting the convergence of sun and earth that looks like this:

The symbol suggests a "bottom up" approach converging with a "top down" approach and that is the essence of The Lakota Method.

The Lakota Principle In Action

It is important to apply the method in this order:

1. Bottom Up Research: Browse through lists of home business ideas and make a note of ideas that have an element that is interesting and/or relevant to you, even if the idea isn't quite right. Once you have compiled the list, go through it and add category descriptors to each idea. So, an idea could be marked as "unique product", "personal service", "involving children", and so on.
2. Top Down Research: Define the criteria for an ideal home business for you, personally. These criteria should include both your interests, skills and experience, as well as the constraints you may have (such as storage space or transport). Then, browse through lists looking for ideas that meet these criteria.

The reason why you should do things in this order is that, by starting with the top down method, you may constrain your thinking unnecessarily and exclude ideas that have merit.

Finally, you would think about the shortlisted ideas against your own interests and experience. In practice you will find that, with some imagination, you can create an idea that incorporates the best category descriptors for yourself.

In the article, "Using The Lakota Principle To Find Your Best Home Based Business", we have a real life case study about a woman who created a flourishing small business producing unique, high quality socks.

Who would have thought?

And, as you can guess, I am her most loyal customer!

Do You Really Want to Be Your Own Boss?

There are 3 signs that the timing is right to quit your job and become your own boss:

1. You are stagnating in your current job and learning very little.
2. You feel drained and the office politics is really getting to you.
3. A much better opportunity presents itself - like starting your own business.

But, before you act instinctively, it is essential that you assess the pros and cons carefully. There is no point in throwing the baby out with the bathwater.

There are 2 main requirements of a successful home based business operator - the right personality and the right attitude.

The Ideal Personality Of An Own Boss

People who are ideally suited to running their own small business have several common characteristics. They are:

• independent with small egos.
• willing to take a calculated risk with business ideas that are less secure.
• able to let go, think in an unconstrained manner and come up with innovative ideas.
• more concerned about achievement than status.

Common Attitudes Amongst Successful Small Business Owners

Being your own boss leaves you very exposed. There is no-one else to blame when things go wrong. To succeed on your own requires an infectious, positive, "can do" attitude.

People with the right attitude to be your own boss typically ...

• have no sense of entitlement. They don't complain - they just get on with it.
• are highly resourceful. When customers ask for something that doesn't fit their business model, they change the model.
• believe in themselves. They don't allow self-doubt to derail their progress.
• are tough and resilient. They keep at it until they achieve the breakthrough they are aiming for.
• are people with a sense of integrity, a well defined moral compass. Their customers sense and respect this and reward them with loyalty.

OK, so you are ready to be your boss. Where do you start your home business? By planning - you cannot be successful without a plan.

You can get some help with planning your home based business here. Very best of luck!