Home-Based Business – Is It Right For You?
By Diana Ennen
What does it take to be successful in this field? Ambition, personal
drive, motivation, desire and perseverance are the forerunners. Without
these, all the skills and experience in the world won’t enable you to
succeed. However, combine those with your personal skills and
experience, and you’ll have what it takes.
Also, take into
account the following: Are you ambitious, constantly striving for more
fulfillment in life? Are you not fully satisfied until you’ve done your
absolute best? If so, working from home is for you. There are no
limitations. The more you put into the business, the more you’ll get
out of it. You control your paycheck. Only you can determine what
follows that dollar sign on your tax return each year.
Are
you a self-starter? You alone are the one who will make this business a
success or failure. The amount of time and energy you invest will
determine just how successful you are with your business. Are you
motivated enough to make things happen? In the beginning stages, a
business will require a tremendous amount of hard work and long hours,
often without immediate results. You need to be willing to invest that
time and await the results with confidence.
Are you
creative? Can you think of a new idea and within days make it a
reality? What a joy it is to tap that inner imagination and create a
new idea for your business. Whether it’s an effective advertising piece
or a dazzling brochure for your clients, you have the power to make it
work.
You should be self-motivated and enjoy working with
others. Many of you will come from a 9-5 job and the general tendency
is to cut loose with the extra freedom. No Boss-No Time Restraints-What
fun! You have to discipline yourself right from the beginning not to
get sidetracked watching soaps and sleeping in. After you are
established, your workload won’t permit this anyway.
Working
with different clients is a part of owning your own business. Remember,
a satisfied client will tell other potential clients about your
services. You need to possess the ability to make your clients feel
confident and secure in your services and comfortable working with you.
You can’t fold under pressure. Owning your own business can
be extremely stressful at times. There are no bosses to run to or
co-workers to seek advice from. The computers will break, faxes will
jam, clients will become too demanding and you must know how to handle
the situation and stay calm. NEVER PANIC! Learn to take a deep breath,
regain your composure and then solve the problem.
You should
be organized and have a good understanding of the business you are
going into. Many companies fail because they didn’t do their homework.
Read as much as you can on home-based businesses before you get
started. Research your area to determine the customers’ needs and the
amount of competition.
You need to be able to say NO!
Clients will take advantage of you if you don’t. You have to remain in
control or you will find yourself working outrageous hours for little
profit. Decide what hours you want to work and stick to that schedule.
Owning your own business can be an exciting and rewarding adventure.
There is a tremendous feeling of accomplishment when you land your
first client or make that first sale. It’s the kind of feeling that you
just want to keep getting over and over again.
Excuses, Excuses
Just how badly do you want this? What’s holding you back? People
present all kinds of excuses for why they shouldn’t start a home-based
business. Fear is the most common. Fear of failure, fear of financial
insecurity, fear of responsibility, and fear of change are the most
frequently stated. Let’s look at these for a moment and see if they
apply to you.
Fear of Failure: Most of us fear failure. It’s
natural. Who wants to fail at anything? Besides, if you don’t try, you
can’t fail, and you will not have to deal with those negative emotions.
Successful entrepreneurs see failure as an opportunity. They believe
that there is no such thing as failure, only lessons. You need to be
able to learn from your past failures or, as I call them, “tries.” I
consider it this way: “I tried it, it didn’t work, so I’ll try
something else.” I give failure no power. One of our favorite clichés
is, “I would rather regret something I did over something I didn’t do.”
You should learn valuable lessons from each of your mistakes.
What did you do wrong that could be corrected next time? Never dwell on
your mistakes. Solve the problem and plan a new course of action.
You can also prevent the risk of failure by being aware of why most
home-based or small businesses fail and then guard against these
things. The following are several reasons many businesses fail:
1.Lack of enthusiasm, motivation, dedication and drive
2.Lack of self-confidence
3.Lack of knowledge and expertise
4.Lack of management skills necessary to run a successful business
5.Lack of providing clients with quality and professional services
6.Lack of a professional attitude
7.Lack of a market for services
Remember that success takes time. Very few businesses are overnight
successes. It takes work, rethinking of ideas and carrying out your
plans. Think of success as a marathon, not a sprint.
Fear of
Financial Insecurity: This is a valid concern for those leaving the
security of a full-time job with a regular paycheck every week. There
is no guarantee that every week you will make a certain amount of
money. However, you can take steps that will enable you to make it
through the slow times until your business is up and running. Don’t let
your paycheck addiction seriously interfere with your dream of
entrepreneurship. Keep in mind that you could be downsized, fired, laid
off, let go, given the pink slip (you get my point) tomorrow, so take
control of your future now!
Have two or three months of
money in reserve to help you through the first few months. This
alleviates the stress of having to make money NOW! Many start a
business on a part-time basis and continue working their full-time jobs
to keep money coming in and to build their client base. However, let
this stop you from starting a business. After being in business now for
20 years and seeing so many businesses succeed, I know many who have
made it without this extra money.
Fear of Responsibility:
Many are frightened by the role of sole responsibility. They like the
option of going to someone else when a crisis hits and having that
person solve the problem. With everything falling on their shoulders,
they fear they can’t handle the stress. Advance planning is the key
here. When you start your business, have a good back-up plan in effect.
Then when a crisis hits, you immediately know what to do. After the
first few crisis situations, you learn to remain calm and solve
problems with little effort.
About the Author: Diana Ennen is the President of Virtual Word Publishing, http://www.virtualwordpublishing.com
and the author of Corel WordPerfect Office Ready Virtual Assistant
Solution Pack (http://www.corel.com), and Virtual Assistant – The
Series.
Source: www.isnare.com
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