Home Sweet Home Based Business

Is starting a home based business right for you?

Are you right for starting a home business?

Since you are reading this, I would be willing to bet you want to start your own home based business, or you have tried to start one a time or two. Maybe it didn’t work out and you would like to try again. Maybe it was a modest success, but you wonder why your home business is not more successful.

It is no secret that I believe at least half of all adults, and some teenagers, should start their own home based business. Even if they have a good job. Everyone knows, especially lately, that a good job can be gone in an instant. So, start your home business in your spare time. Build it into a successful sideline as insurance against loss of that good job. Or, build it into a business that could provide you with as much income as you make at your job, or more. Wouldn’t you like to tell your boss someday “Goodbye, I’m quitting this job to concentrate on my home business. I make more with my business than what you pay me”?

But, I’m getting off track. To be honest, a home business is not right for everyone. And, not everyone is right for a home based business.

A home business, or any business for that matter, takes some degree of skill and knowledge, hard work, persistence, dedication, and focus. And a home business is different in many ways compared to a corporate job or a traditional retail or manufacturing business.

Is a home based business right for you?

Almost every home business has tons of distractions; kids, pets, home maintenance, the “honey do” list. Distractions make it hard to focus. Will these distractions make it so hard for you to focus that you can’t get done what needs to get done in your business?

Running a business from your home makes it hard to separate personal time from business time. The two will overlap a lot and you will either find your personal time eating into your business time, or your business time will take over and you will have little if any personal time for yourself or your family.

Many home businesses will result in loss of face-to-face social interaction with people. Nice chats with coworkers over cubicle walls, or at the water cooler, or over shared lunch breaks are replaced with emails, tweets, or phone calls.

If your home or apartment is fairly small, you may not have the space to set up a separate “office” where you can do your “work”. Your kitchen table might become your “office”.

Most home business entrepreneurs have no regular paycheck. Having a uncertain and irregular income creates its own problems and may require a much better job of budgeting, saving money during the good times, and strict control of expenses.

During the initial year or two of your home business efforts you may not have total family support. If that is the case for you, it may be difficult to keep going until you are as successful as you would like to be.

Are you right for a home based business?

Are you self-directed? – Are you willing and able to get things done with no boss telling you what to do?

Are you able to live with no structured job description? – Can you function and be comfortable without a specific job title or written outline of what you are supposed to do?

Are you willing and able to learn about, and learn how to do, a wide variety of tasks and functions? – Can you wear many hats doing whatever is required to start and build your business as the chief cook and bottle washer (at least initially)?

Are you able to identify exactly what you want in your business and your life? – Can you clearly identify what you want to do, have, or be, and why? Can you persist until you have that? Knowing what you really want, and why you want it, can give you the direction and motivation you need to succeed. And, persistence is one of the most important characteristics you could have for success in home business, or in any effort.

Are you able to “sell” ideas and products to people? – I don’t mean “Can you be a hypey sales type that tries to manipulate people into buying something?” Many people hate to “sell” because they think that is what it means to sell. But, it has been said that “nothing happens until something gets sold”. You will need to sell in order to be successful. When I say “Can you sell?”, I mean, can you identify with people and the problems they have? Can you communicate with people in such a way that they believe you understand their problems? Can you tell them about how their problem could be solved, and especially how your product is the best way to solve their problem? Can you clearly state all the benefits to them of using your product to solve their problem? Can you create and communicate an offer to your prospects that is so good they would think it is too good to pass up? Can you find the people who have the problem your product can solve and present your offer to them? Can you ask for the order and deliver the product you have promised to those who order? And, finally, can you follow up with your customers to make sure they are satisfied and to offer them additional products and build your relationship with them?

Are you able to function without a lot of face to face social interaction with others? – Are you comfortable with having your interactions with people being limited to emails, Twitter, Facebook, or maybe phone conversations? Or, do you NEED personal conversations over the cubicle wall, at the water cooler, or during shared lunch breaks?

Do you have a success “can do” attitude, or do you have a lot of excuses for why something can’t be done?

Are you able to plan your business, marketing, and product creation, and then execute the plan? – Are you good at planning, and more importantly, are you good at taking action to make your plan happen?

Are you able to ask others for help when you need it? – Nobody can be an expert at everything. Are you humble enough to realize you will need help with something? Are you willing to find and ask an expert for assistance?

Are you able to make decisions quickly, or do you procrastinate? – Are you willing to move forward, even if you might fail? Or, does everything have to be perfect, with no chance of failure, before you will act?

OK. I think you get the picture. A home based business may be right for you. And, you may be right for a home based business. Be honest with yourself when you evaluate both possibilities.

Home Business Income Opportunities Revisited

I wrote an article recently titled “Home Business Income Opportunity – READ THIS FIRST To Avoid These 3 Deadly Mistakes In Your Business” in which I discussed 3 factors that can derail your business.

In this part, I carry on in the same vein to reveal the remaining killers that can have a hugely negative effect on the outcome of your online business.

Home business income opportunity killer #1: Distractions From Too Many Business Opportunities.

There is a common misconception in the online world that you need to get involved in many business opportunities in order to make it big. Now this business model has certainly worked for some people, I agree, but for most people it only serves to distraction that breaks your focus.

When there is too much going on, you are not able to concentrate on one business opportunity until it is starts producing the results that you desire, instead you work on one business a little bit here and on the next one a little bit there, thereby dissipating your energy.

Especially when you are just starting out, you will have enough on your hands learning the new skills needed to get your business to succeed that having more than one home business will be counterproductive.

Home business income opportunity killer #2: Choosing The Wrong Business

One of the reasons people take on more than one business opportunity is to enable them generate enough income to live their dream life. So by inference if you are not getting enough income from your business opportunity you have probably chosen the wrong business.

The solution to this is to get involved in a business that has an excellent and great compensation plan such that you will not have any need to get involved with any other business to supplement your online income.

Home business income opportunity killer #3: Lack of Commitment

Every venture you get involved in and the internet home business arena is no different, requires you to make a commitment to yourself. A commitment to do whatever is necessary to get your business off the ground, and a commitment to seeing it grow and succeed.

Lacking commitment to yourself and your business is certainly one the factors that affects your home business success. This is easier said than done sometimes; especially when you consider that most people work on their business on a part time basis, after a full day at work – in the beginning at least.

When you are tired and you just want to go to bed, what will you choose to do – give up or keep going? When you are not seeing the results you desire what will you choose to do – give up or keep going? When your friends are meeting up for a social night out and you are really would like to be there, what will you choose to do – go out or keep going?

The point here is you will need to make sacrifices to get what you want. So the question is what sacrifices you are willing to make to see your dreams come true?

Legitimate Online Home Business is not about getting rich quick, if it was then everyone will be successful. It is about showing up when you feel like and when you do not really feel like, and doing what is required to get the results you desire.

Home business income opportunity killer #4: Lack of Distinction between Activity and Productivity

One deadly mistake that home business owners make is that they fail to differentiate between activity and productivity. While both of these terms involves you taking action, activity relates to performing duties that is required to keep the business ticking over, like ordering supplies for example, while the productivity relates to income producing activities like advertising and sending out sales letters.

Clearly distinguishing between these types of activities and concentrating a good portion of your time on being productive rather than just being busy is one of the biggest mistakes to avoid. Mastering this will put you firmly on the road to success.

What You Really Need To Start Your Own Business

Many people have dreams about going into business for themselves and quitting a job that seems to be going nowhere. Take control of their lives, buy things they have always wanted, save money, travel the world and live in financial freedom. Great and laudable dreams…uh…

Yet a lot of people are unable to take the first step into their desired world of business exploits, because of lack of knowledge on what it takes and how to go about running a business successfully. Those who do, end up in frustration, fatigue, debt and failure.

To know how to succeed you need to find out why so many people fail in business.

Study shows that, four out every five businesses will fail within their first five years. And of those remaining, four out of five will also fail within next the four years.

Solomon in the Bible, a man reputed for his wisdom and high level of business and financial success has this to say:

“The labour of the foolish wearieth every one of them, because he knoweth not how to go to the city”. Eccl 10:15

Business skill makes the difference
The reason for frustration and high rate of failures in start-up businesses is the lack of business skill. Most people don’t have, and never built, the most basic business and management skills. They go out in a haste to start their business. If you’re not effectively prepared and equipped for the business world then failure is inevitable.

There is the how to running a successful business. Technical skills in a profession or career are no substitute for business skill. That you’re a good accountant, doctor, and lawyer is no guarantee that you will succeed in business without business skill.

It’s important to know that it’s not as a great technician, but as a great business entrepreneur that you will create your success.

Running a business is a specialized technical skill on its own, which must be learnt like any other skills. It is a skill very few learnt before going into business.

Starting and running your own business could be fun and fulfilling if you know how to go about.

Business skill can be acquired
The good news is that all business skills can be leant. All it will take is your willingness to pay the price of acquiring the needed skills.
Friend, there is no prize without a price!

There are only two things you can invest: time and money. Since most people do not invest much time, they lose their money. It is in spending time learning about money, business, finance and wealth, attending many seminars, listening to many tapes and CDs, reading business book. And also by finding a mentor and becoming an apprentice.

You need to build skills in the art of acquiring, satisfying and keeping customers. You need to know how to build and manage systems that will keep your business running on automatic.

Being in business is not all glitz and glamour. It’s a constant battle to overcome problems and obstacle. Your problem solving skills must be sharpened, because doing business is all about solving problems.

To invest all your money setting up an office-rents, furniture, computers, business cards, and letterheads without given attention to the basic skill that will make it all produce the desired result, will be effort in futility.

These are not what you really need to have a successful business…. Yes, they are cool; they are what a business man should hope to have. But they are not the greatest factor in business success. Your business skill is what makes the difference.