homebusinessesexposed.net blog

Business will inevitably get slow at some point in time, and you may have to hire out your services.  Don’t feel bad at this time.  After all, while you may have to work for a company for a while, it will still be under your own decisions and under your own business.  And when you’re first starting out, it might be easier, because if you simply hold down a part time position while business is getting started to tide you over and pay the bills, you will end up happier with it anyway.

The reality is that small businesses take time to get started, and if you are running things out of the comfort of your own home, you can certainly schedule yourself.  But especially in times of a struggling economy like you see now, it is important to remember your bills rather than focusing on your pride.  It is also important to recognize that a lot of small businesses in general fail within the first couple years.  So it’s important to always have a backup plan.  This being said, of course, work is required for any small business success.  So while you shouldn’t devote your exclusive attention to the business at hand, keep a handle on reality and how much time you will need to spend.

I found out a discouraging fact the other day.  While most people think that working from home would be great, myself among them, it is not so appealing once you know the actual facts.  The actual fact would be that most small businesses or businesses in general fail within the first 2 years.  The ones that succeed are very unusual.  Now I assume some are not really businesses and get abandoned, and I assume that some also don’t have people working as hard as they should.  But come on!

As for me, I realize that you have to work like you’ve never worked before.  You have to apply yourself, and for the first while, even years, it is going to be all blood, sweat, and tears.  You won’t necessarily be able to hire help, you will have to know how to do a lot of it yourself, and while family and friends might help, it is unlikely that people will donate that much time without pay.  It’s a simple fact of life.  This is a fact many don’t realize for some reason.  But even if your business is not labor intensive, there is also the fact that you will simply have to take out a rather sizable loan unless you’re rich and this is a game of some type for you.  That alone is daunting.

Most home businesses fail within the first 3 years of business, and the sad truth is that you could easily be one of them whether you put in your best efforts or not.  However, there are definitely ways to increase your chances at success.

1. Find something you are passionate about-if you don’t have the passion, you won’t invest yourself into your business and therefore you won’t work as hard, which businesses really do require.  You will be considerably happier when you go to work, and you will therefore be far more productive in general.

2. Find a viable market-whether you like the market or not, if nobody cares but you, you are not going to make a sale.  So while it is important for you to like your work, it is also important for others to feel to some degree the same way.

3. Set Goals-You need direction.  If you know exactly where you are going, you can see better results and achieve success at a higher rate.  Goals should be specific, measurable, realistic, attainable, and have a certain and reasonable time range.

4. Persistance-If you give up the first time something doesn’t go the way you planned, you will never make it.  So don’t give up, be persistant, and get what you are working for now. 

If you follow these basic rules, you are far more likely to succeed in your home business efforts.  You may well become another one of those businesses that fails.  But it will not be for lack of the right efforts, and even in this bad economy, you are more likely to be one of the great exceptions that may even thrive in times of bad economies.