Have you thought of starting your own small business from home? Are you hesitant and not sure whether to proceed? I want you to know there has never been a better time to start a new venture especially considering the downturn in the economy but you have to weigh the pros and cons before you take the plunge.
One factor that makes starting your own business from the comfort of your home attractive is the flexible working hours you would enjoy. You will have full control of when you operate your business. And with the flexibility comes the option of first starting your business on a part time basis while you carry on working with your current employer. Once your business has grown to a full time venture then you will have the pleasure of sacking your boss.
Once you go full time, the time, energy and resources spent commuting can be put to better use doing things you love to do and building the future you desire. The stress of commuting and getting to work by a certain time will also be completely eliminated.
Considering the lower operation costs, the risks involved in running your business is highly reduced with your expenses largely limited to cost of materials. Business overheads such as business rates, rent, heating and lighting for commercial outlets are virtually nonexistent. Also you not need to spend extra money on making your business presentable to your customers either.
However a note of caution – running your own business from home does come with its own pitfalls which you must guard against.
Working from home, means that you need to be disciplined. It is easy to get distracted doing things that are not related to your daily tasks. To stay on track you will need to be focussed. Have a ‘to do’ list that you work with. Make sure you prioritise the activities that drive your business forward and do the others later. It takes a lot of discipline to achieve.
Time management is also very important in helping you stay on track with your plans and goals. You will need to plan and allocate time for each activity you decide to embark on for each day. A good strategy which I personally use is that I plan my day the night before so I can get going immediately my day begins.
Although an attractive proposition, how would you handle tough times in your home business? Remember tough times will come at some point in time. The attitude with which we handle them is what decides whether we will be winners or losers. A trick that I use to keep my attitude up is to remember why I have chosen to work from home. For me, my motivation is a better work-life balance. My commuting time has always exceeded one hour and that makes it difficult to attend to urgent family issues when they arise. So what is yours – what is it that will get you out of bed with a smile on your face and get you working away with a good attitude when the going is tough? Remember your ‘why’ as this is the source of your…