Work At Home Success
November 30th, 2008 | 
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A large percentage of new businesses fail in their first year. The more prepared you are when you open yours, the better your chances for success. What characteristics are required for a home business owner?
You must be a self-starter. Once you make the decision to start a business, nobody is going to make you do it. You will have to tell you when to show up, and you will have to enforce the rules. You will have to organize your time and strategically plan exactly where you expect your business to go.
You must be a problem solver. When your business is presented with problems, it will be your responsibility to solve them. Trust me, there will be problems, anything from where to obtain inventory to how to budget your money to be sure you can pay your taxes.
You must be energetic. In the early years of a business, you have to be 100% committed. Although you were striving for freedom, it may suddenly seem like you have less freedom than ever. Suddenly instead of working five days a week, you’re working seven days a week.
You must be decisive. Your business decisions must be made, and they must be made by you. You may need to make important decisions under pressure, long before you really know what you’re doing.
You must have a clear vision. A very wise person once said, “Failure to plan is planning to fail.” It is often recommended that you have a business plan before you get started. At the very least you should have clearly mapped out a plan mentally of where you expect to be in a year or five years and what it’s going to take to get there.
As a new entrepreneur, arm yourself with as much knowledge as possible. Study www.sba.gov for a lot of ideas and roadmaps. According to the SBA, about 50% of all new businesses fail in the first five years. Lack of experience is at the top of the list for the reason why. Lack of capital comes in a close second.
Many new business owners underestimate what is really involved in running a home business, then they get discouraged and quit. You don’t have to be one of them. Obtain as much knowledge as possible. Recognize that you are learning, treat mistakes as opportunities and be persistent.
If you have passion and drive, you can make it happen.
One possibility is an internet business. Learn more in my next post.
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December 28th, 2008 1:33 am
You have certainly defined what it takes to work from home. Will you consider an article about (Time Management or Honey Do’s, when you are trying to work at home)in the near future? Should be an interesting read.
January 2nd, 2009 1:25 am
Hi Gary
Thanks for stopping by. Already have a post on Time Management. My best wishes for a great 2009.