Every day, people are achieving economic and creative independence by turning their skills into dollars. Garages, basements and attics are being transformed into the corporate headquarters of the newest entrepreneurs, home-based business people. With recent technological advances and a rising demand for “service-oriented” businesses, the opportunities seem to be endless.
Today, accountants, architects, public relations consultants and computer geniuses, as well as chimney sweeps, maid services, mail order businesses and answering services have swelled the ranks of home-based business and brought with them a new perspective on making a house more than a home. If you’re like most people, you’ve probably already thought about working at home. Its appeal is obvious. Beyond the commute, the advantages include better use of time, more time with your family, flexible working hours and independence.
Starting and managing a business takes motivation, desire, talent, research and planning. Like a chess game, success in small business starts with decisive and correct opening moves. Though initial mistakes are not fatal, it takes skill, discipline and hard work to regain the advantage.
To increase your chance for success, take the time up front to explore and evaluate your business and personal goals. Use this information to build a comprehensive and thought-out business plan to help you reach these goals.
The process of developing a business plan will help you think through some important issues that you may not have considered yet. Your plan will become a valuable tool as you set out to raise money for your business. It should also provide milestones to gauge your success.
Before starting out, list your reasons for wanting to go into business. Some of the most common reasons for starting a business are:
- Be your own boss
- Financial independence
- Creative freedom
- Full use of your skills and knowledge
Not everyone is predisposed to work in their own living environment. For some, isolation is a problem; others lack the necessary self-discipline. Another consideration: starting a home-based business is similar to starting any small business in that you must ask yourself if you have what it takes to be an entrepreneur.
To determine whether you measure up, study the characteristics of successful business owners and decide whether your personality traits, experiences and values are similar to theirs. Assess your experience, skills and life goals; do you want to invest the energy, time and resources that successful entrepreneurship requires?
Starting a business is risky at best; but your chances of succeeding will be improved if you understand the problems you’re likely to encounter, and have them worked out before you start. The first question you need to answer is about yourself: do you have what it takes?
By: Kurt Mortensen
About the Author:
Learning to persuade and influence will make the difference between hoping for a better income and having a better income. Beware of the mistakes persuaders commit that cause them to lose the deal. Go to www.PreWealth.com and explode your income!
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