This guest post on 6 Tips For Running Your Home Business is written by James Adams. He is a UK based writer and designer, who works with a supplier of the HP 338 ink cartridge and other HP supplies in the UK. He is a regular contributor of posts about media advertising and print design for their blog, CreativeCloud. You too can guest post at CollegeFallOut.
You’ve heard it a thousand times if you’ve heard it once – running a business from home can produce fantastic income as well as afford you a lifestyle you would truly love. Well, it is absolutely true! That is exactly what it has done for thousands of entrepreneurs who made the decision to start a home business or were forced into it by economic circumstances. While it is working very well for many, some home business advertisers would have you believe that it is as easy, that your home business will run itself while you sleep in before heading to the beach.
Don’t be a sucker! As many savvy business people have warned, if it were that easy everyone would be doing it. Home businesses take hard work and sacrifice, and these 6 Tips for Running Your Home Business will get you started and keep you pushing through the inevitable obstacles to the rewards that wait.
- Treat Your Home Business Like a Business: before you say “Duh!” understand that most home business entrepreneurial wannabe’s treat their business like a hobby, hoping it will magically gain momentum and take off. It almost never happens that way. Another thing about hobbies – they typically cost us money rather than make us money. If you want to make a lasting change in your financial future and lifestyle approach the process with the seriousness it deserves.
- Plan to Succeed: you know what I’m going to say next, right? Failing to plan is planning to fail. There, I’ve said it, and you should repeat that Zig Ziglar mantra as often as needed. It has certainly worked for him! Plan to succeed by choosing a niche that needs you, your products, or services. Don’t try to sell heat to Texans in July. Define your market and decide if there is room for you. The fact is, there are many under-served markets available, and doing your due diligence to discover them will reward you continuously. Part of this process is to detail your business plan so that you know exactly what track you are running on, and so will anyone you approach for capital funding such as a loan or even a business credit card.
- Keep it Simple Smartie!: don’t be in a hurry to hire employees, incorporate, go public, etc. Don’t get ahead of yourself. Learn the business you’ve chosen step by step. Become an expert and you will begin to intuitively know the next steps to take. Be patient. Take your time. This may mean keeping your “day job” or finding transitional work to make ends meet while you are burning the midnight oil getting your venture up and running. That’s what it has always taken to succeed. The price of lasting success hasn’t been lowered yet.
- Find a Mentor or Mentoring Program and Be Teachable: good ones will reduce the learning curve for you tremendously and will supply you with large doses of enthusiasm, encouragement, and sound advice. Good mentoring programs pay for themselves in personal growth and business acumen that will make you more profitable more quickly.
- Schedule Everything and Work Your Tail Off: these two are related because work from homers who don’t have a detailed schedule to follow will waste enormous amounts of time, be unproductive, and end up disillusioned, frustrated, and broke. A schedule directs your energies and motivates success. Your mentor will be of help in learning to allocate your work time. In addition, some work from home sales pitches make it sound like you can sleep in every day, spend every afternoon with the kids, and never work weekends. Well, it is true! But if that is the approach you want, you will have to work late nights before sleeping in, devote your evenings to the business after the kiddies are fed and tucked in, and make the 120 hours from Monday through Friday extremely productive so you can have your weekends for leisure. Maybe down the road it will change, but certainly not right away.
- Forget Multi-Tasking: the new buzz is that multi-tasking leads to multi-failing, and many studies prove it. Instead, focus on a larger task and devote all your attention and energy to it. Get it done and celebrate your success. Regroup, recharge, and tackle the second greatest priority on the list. Single-tasking might just make your home business singularly successful, and then you will have the opportunity to fully enjoy the lifestyle and financial rewards that moved you into the home-based market place to begin with.
Rocket scientists tell us that more than 75% of the onboard fuel is used just to get the rocket off the launch pad – the first 200 feet into the air. Inertia, and all that. Be prepared to expend plenty of correctly directed energy and personal discipline to get your home business growing. The rewards will be a result of the work, and when you’ve truly earned them they will give you pleasure beyond what you even imagined.
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