Home Business Information

The notion of having a home-based business has many appealing factors; the first and most obvious is of course working from home, followed by the flexible hours, being a business owner with minimum cash flow and overhead, and the ability to sell a product or service you believe in. All of the appealing factors to having a home-based business have their share of victories and struggles, it’s imperative to be aware of these prior to starting your own home-based business in order to maximize your success.

Working from Home

The Victory(ies): This is easy enough to explain…you’re home. You get up in the morning and instead of putting on a suit, rushing out of the house and driving through traffic to get to work; you stay at home. You walk to your home office carrying your cup of coffee (perhaps still in your pajamas) and begin your day. You save money, can deduct certain items as business expenses that you couldn’t before, and you have more time for your family. Did I mention you can work in your pajamas?

The Struggles: This is also easy enough to explain…you’re home. Perhaps it’s easier to stay in bed then start your day like you would if you had to go into the office. You find yourself with less social contact; it’s easy to become distracted by household chores, the television and your family.

The Solution: It becomes very important once you start to work from home to create, maintain and follow a schedule which will give you a sense of structure throughout your day. Set a time to get up every weekday morning and start work. Know what tasks need to be accomplished (daily and weekly) and have them scheduled and proritized accordingly. Keep yourself accountable to your schedule or enlist the help of others if this is too difficult on your own.

Flexible Hours:

The Victory(ies): Per the previous solution, you will be in control and accountable to your own schedule and will have much greater ability of maintaining flexible hours. The major victory for you in here is that now you can schedule yourself to work when you are the most efficient and energized. Learn when you are most productive throughout the day and schedule yourself to do your work during those times. The flexible hours also make it easier to grocery shop, workout, and run errands (to name a few) during the hours of lesser activity, making accomplishing everything with ease.

The Struggle(s): Your new hours might not match the hours of your friends and family therefore when you’re ready to work, they’re ready to do something else which can be disruptive or a dilemma for you. Having flexible hours might also lead to a path of working many extra hours without you noticing; all of the sudden you find yourself always working.

The Solution: This solution reinforces the utter importance of maintaining a schedule and a to-do list, not only to know what needs to be done and where you need to be but to keep track of the hours you work and how well you maximize the use of your time. As you develop your home-based business (or if you are already in progress with your home-based business) always take the time to review the use of your time and assess the return on investment of your time ensuring your hours are flexible not wasted.

Being a Business Owner with Minimum Initial Investment

The Victory(ies): Getting to call yourself and being a business owner is a victory in itself…being able to do so without a huge investment or monthly cash flow/overhead is even better. You will be provided many of the material required to start your home-based business from the onset by the Company you select, as well as website access, initial inventory and so forth.

The Struggle(s): The minimum amount required to become a home-based business owner varies depending on the product(s) you decide to sell ($100-more then $10,000), the majority of the time the more you can invest the better off you are; to can keep an inventory for your customers, or have a wider selection of products. Also, remember you’re running a business so you must consider the cost of marketing, networking and advertising that is extra to what you will be initially provided.

The Solution: Prior to starting your home-based business take into consideration ALL of the initial cost associated to your business venture. One of the best ways to do this is by writing a business plan and associated financial statements.

Selling a Product/Service You Believe In

The Victory(ies): You can (actually, you need to) choose a product or service you believe in, trust and that has in fact impacted your life. You will feel good being part of spreading the good news about the product and changing other peoples lives or offering them the same opportunities that have been extended to you.

The Struggle(s): You’re ready to sell this wonderful service/product you believe in and then you come to realize you’re not a sales person.

The Solution: Unlike what many people tend to believe a sales person is not born, there are many ways you can learn the necessary skills to sell. Admit your shortfall and seek the advice, assistance, guidance and coaching of those who can teach you all you need to know.

# posted by Medical Information : 3:18 AM