Home_Based_Business__Ten_Tips_For_Success_ by liquidmindmedia

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									Title:
Home Based Business: Ten Tips For Success:


Word Count:
938


Summary:
With the cost of living quickly surpassing the wages (we make) necessary to maintain an “average” lifestyle,
more and more employees are beginning to seriously consider the option of working from home.


Being your own boss, setting and keeping your own hours, keeping all (or most of the proceeds for
yourself), saving on travel time and gas, allowing for as much vacation time as “necessary”, it all has its
perks. It certainly seems that way, especially for many woman who may...



Keywords:
business, management, home based



Article Body:
With the cost of living quickly surpassing the wages (we make) necessary to maintain an “average” lifestyle,
more and more employees are beginning to seriously consider the option of working from home.


Being your own boss, setting and keeping your own hours, keeping all (or most of the proceeds for
yourself), saving on travel time and gas, allowing for as much vacation time as “necessary”, it all has its
perks. It certainly seems that way, especially for many woman who may not want to stop working or can’t
afford to, but also want to stay home with the kids or be home when they get back from school.


But, this growing trend, even with all its apparent benefits has many experts cautioning stay-at-home
workers and warning them about the potential perils of home-based businesses due to common human error.


Some of the most common (and most damaging) include:


· Going In Blind: Sure you need confidence, guts and faith to start your own business, but you also need to
know what your getting into, and that means diving FIRST into doing the necessary research about the type
of business you are interested in starting. Experts suggest finding out as much as you can about your
potential venture and about its potential for success in your area. Find out about your competition, note how
much they are charging and pinpoint your target market. Rely on books, trade shows, conferences and the
net to gather your materials and information.


· Becoming A Lone Venturer: Keep in mind that starting ANY business is difficult, especially in its initial
stages. This is the most crucial time for you and your venture and you’ll need all the love and support you
can get. One of the biggest mistakes, say experts that new entrepreneurs make is not getting the necessary
support from spouse of family. Besides maybe helping with the housework or kids, he or she may also want
to lend a hand in your business or at least lend support and encouragement as to work to get things going.


· Leaping Without A (Financial) Safety Net: Most of us are use to bringing home a specific amount of
income (give or take) each week, an idea of having a “comfort” zone that most new business owners need to
give up say experts. According to professionals, most new business owners won’t see a profit for several
months. In fact, they suggest having at least six months (monetary) reserves on hand.


· Spreading Yourself Too Thin: While you certainly want to please the consumer and build your client base,
it’s important to remember, that you won’t be able to please all of the people all of the time. They suggest
not spreading yourself too thin by creating a mission statement for your business defining your purpose and
your goals. Include what your business involves, what makes it stand out, and where you see yourself a few
months to a year down the line. And, they add that you should make it a point to check your statement
periodically and make all the necessary adjustments.


· Getting Too Comfortable: It’s easy to take advantage of being at home, especially when you don’t have to
punch or Watch the clock. But, according to experts, sticking to a regular work schedule is imperative. Keep
your schedule flexible (that’s what working from home is all about) but set limits and boundaries that will
allow you to focus without any interruptions and be productive.


· Not Having A Space Of Your Own: For some a private office may not be feasible, especially if you’re a
stay-at-home parent. But, according to experts, it’s imperative that you designate a specific space to conduct
business. It is also important that you have all the necessary office essential to properly conduct your
business. Sharing space and sometimes supplies is necessary, but you really should have your own for
maximum efficiency.


· Selling Yourself Short: Want to beat your competition (price-wise) is a smart move, but seriously
underbidding yourself and your worth may not be. Know what the competition is charging and make
reasonable adjustments remaining firm and confident in what your product and ability…and always leave a
little room for “play”.


· Putting Off The Paperwork: While most of us don’t enjoy the paper trail that often goes along with owning
a business, it’s an essential part of operations, especially when it comes to keeping track of inventory and
finances. Make sure to do all you shipping and receiving and related filing promptly, as well as sending out
timely invoices. Keep in mind that most consumers take up to 90 days to pay, so you’ll need to bill them as
soon as possible. And also, don’t forget to keep track of your own expenses to know what is coming in and
what is going out.


· All Work And No Play: Just because you work from home doesn’t mean you never leave the house again.
In fact, a very important part of any business is networking. So, think about maintaining your professional
appearance and joining some professional organizations that can put you in touch with all the right
people….and even though chat boards and blogs can offer you the same, making a personal appearance is
ALWAYS a nice touch.


· Expecting Too Much: Considering working from home as anything but “work”. While you may have the
freedom to make lots of your own decisions, you’ll also have a lot more responsibility, and that means
learning how to manage your time (between work and career) like never before.




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