Mark Crisp, owner of www.StressFreeTrading.com
Q) What kind of business do you operate from home?
A) It’s really in two parts. First off I trade my own account in stocks and futures.
Secondly I have started selling my own stock market and futures trading systems to the public through my web site: www.StressFreeTrading.com
Q) How long have you been out of the "rat race" and working from home?
A) A little over three years.
Q) Give us a break down of your profits and how they came about.
A)
- Year 1
Well naively I thought I could sustain my-self with my own trading. I quit my job with money saved and carried on with my passion (trading). I did very well (100% + per annum returns). But I found I wasn’t really getting any-where. The profits I made I had to pull out to live on. So you could say year one there were no profits. I merely treaded water.
- Year 2
I decided to give my account a boost I would go into stock market and futures education. This would kill many birds with one stone. So I spent the whole year writing about my system, writing book, writing for seminars, etc. But the going was slow. Once I opened the can of worms I found there was much more to it than posting an ad in the paper saying, "Here I am, this is what I offer, now come and buy it" Year 2 was very frustrating. I built my expectations up so high I was frustrated when I hardly turned in a profit. At least my trading kept me from getting a job.
- Year 3
This was the break through. I obtained a web site. I learned all I could about web page structure, copywriting and Internet marketing.
Almost immediately I started to sell copies. Mostly to US and European customers. It started slowly but has steadily been getting better and better. I have handed over ALL the marketing responsibilities to my partner in the USA (Eric Schafer) His expertise in marketing is moving this project into some very high altitude. And we have barely scratched the surface. We have pulled in up to $8,000 per month in sales. I make $4,000 per month. Like I say we are only just getting going. The potential is enormous.
Q) The first 2 years were not profitable. Did you ever consider throwing the towel in?
A) NO way! Every time I hit a set back I immediately work out how we can avoid it in the future. I have no doubts from day one this would work. Plus I have no choice. I burned the bridges behind me. As "Think and Grow Rich" Napoleon Hill says: burn the bridges behind so there is no easy retreat. That way you HAVE no choice to succeed. Quite often this is what happens.
Q) How did you burn your bridges?
A) My former job was as a Chief deck Officer in the merchant Navy. I navigated the big oil tankers, ferries, etc. all over the world. In my younger days it was exciting but I yearned to start my business. My real passion are the stock markets. I suppose watching Wall Street and "greed is good" (Michael Douglas) had quite an affect on a 15 year old. So whilst away I would read and study ALL I could about the markets.
Getting back… In order to keep at sea I have to pass exams every three years. Well all these certificates expired twelve months ago and I have no inclination of renewing them. The longer I leave it the more difficult I would find it to re-enter the merchant-shipping world. This is great, as I have no plans to.
Q) Doesn’t that worry you?
A) What worries me is my current business not working. I am totally focused on the success of my business and nothing else.
Q) What are the biggest obstacles facing a would be "work at home" person?
A) Like any other venture you must plan.
First ask your-self why is it you really want to work from home. I find most people are frustrated with their current career, or do not get on with the boss, or think working from home is an easy way to get rich whilst doing no work. Those are the kind of people who jump from one idea to the next. Talk to and question in detail someone who has or currently works from home. Ask them what is good about it, what is bad. Find out as much as is possible before taking the plunge.
I honestly believe most people who wish to work from home have no idea of the obstacles and challenges they face. I would urge them to consider the following points:
- Frustration of being alone all day in the house. I never thought about his one until it actually happened to me. Working from home is isolation. Sometimes I go to the local café for a coffee just so as I can be around people. Sometimes you miss having colleagues to talk to. Believe me this can be a BIG problem.
- Lack of discipline - not only are you in danger of skipping work but the opposite applies as well. Because your "office" surrounds you all the time you are in danger of working at it all the time. Days become evenings, become nights, become weekends, become holidays. You need iron-clad discipline.
- Lack of capital: Like ANY other business you are going to have to be sufficiently capitalized for those quiet periods in business. Can you handle living off savings for months on end?
- Is your business viable? It’s much better to step into an already profitable business than to simply stop work one da,. Go home and say, "I’ll start a home based dog food factory" Where is the planning?
- What does your family think? There is a saying in the stock market "scared money never makes it" Well a scared work-at-home business owner will never make it either. If your family is totally against it and will be negative towards the whole idea then it is something you must be able to live with.
Q) What are your future plans?
A) To take my stock and futures market business as high as it possibly can. We have the estimates for this year but like any estimates, once they are achieved you then look forward. I think we are only scratching the surface and I am very optimistic about the future. I do set my goals very high and I will keep striving to fulfill them.
I will always trade my own accounts in stocks and futures. I have no pension, no savings plans, no mutual funds. Every penny I have is in my own accounts. I find it is much, much more profitable to trade my own account than pay for the "privilege". I can never see my-self retiring from this business. (I am only thirty) The great thing about learning how to trade your own account is as long as you keep learning, then you have a moneymaking skill for the rest of your life. I urge all my friends and relatives to do it.
We do have a number of other business ideas in the pipeline. But I have learned to take this business one step at a time. Focus, do a great job, get it going the way you want, then move on.
Q) Can you give us a run down of your average day?
- Up at 6 am - Straight away the computer goes on in the office as I run to put the kettle on.
- 6 am – 9am - Check e-mails. I can get from 30 to 100 overnight. I answer all questions from customers or potential customers. Download my stocks and futures charts and mange my own accounts. Then I run my filters on stocks to stalk for myself and my customers. With this list I then have to check the charts to see if they look like potential HOT stocks. I then e-mail the list off to all my paid subscribers. Deal with any orders of the system I have to take care of. 80% of my work is accomplished in this period.
- 9am – 10am - On the beach. I chose a house right next to the beach in Cape Town, South Africa. I have an energetic Bordie Collie who needs his exercise. I love to walk on the beach for at least one hour every day.
- 10 am 12am - Post office to send all orders away. To the Bank, Printers and any other job that needs performing.
- 1pm – 3pm - This is when I catch up on reading, studying, carrying out some ideas or simply improving my products. Writing articles for my e-zine or plain old creative thinking.
- 3pm- 4 pm - Back on with the e-mail to answer customers. I pride myself on giving exceptional service to my customers. This is why I check it at least twice a day.
- 4pm End of the workday. I go to the gym or play tennis. Gone are the days of working 12 hours every day. Now I do all that I can as efficiently as I can and then step away.
Q) Why do you think the majority of work-at-home people fail?
A) Same as failure in all other businesses. They haven’t clearly defined and planned what business it is they are going to run from home. I see too many people trying to get rich quick. They jump from one scheme to another. The key to building a successful business is to focus. It’s best to be an expert in one field than know a little about many.
If you look at virtually every self-made millionaire, they focused on and become one of the top authorities in one area. Be it movies, writing, law, Internet marketing, advertising, mail order, stocks, banking, garbage, food. There are tens of thousands of businesses that can be run from home. You have to decide which one you are going to focus on.
It takes time, money and a mighty effort to run any business successfully. Most people are kidding themselves when they dream of running their own business. They only see the roses and often ignore the hard work needed to get the wheels in motion.
Q) Your biggest reason for winning in the home business market?
A) Perseverance. There are no great secrets out there. I know a lot of people seem to spend their whole lives seeking the "magic formula" to wealth. But there isn’t one. Read "Think and Grow Rich" Study it and then apply it. Never give up and how can you fail?
Q) Characteristics of a successful home based business person?
A)
- Desire and drive
- Energy
- Positive attitude
- Determination
- Must be humble
- Focus
- Emotional strength
Q) What is it you like best about working from home?
A) You expect me to tell you it’s the independence, freedom from a boss, able to pick my own hours of work, etc..
I love running my own business full stop. The financial rewards are not only bigger than in a job but much more satisfying. I love being in total charge of my own destiny. I can make this as big or as little as I choose (I choose big). "If it’s to be, it’s up to me"
I don’t particularly like running my business from my home office. In fact, soon I will be leasing an office. I find it difficult to keep home and business separate. The only answer is to move into an office.
Q) And the worst part about running your Home Based Business?
A) The isolation. It’s a killer! Something I have never got to grips with.
Mark Crisp
The Momentum Trader