Home-based businesses are cropping up everywhere you look. People have decided that being their own boss is the way to go. There are thousands of advertisements, junk mail, and email saying you should start your own home business today!
But should you really start your own home business? Should you be your own boss? What are the risks to operating your own home business? What are the rewards? How many people are successful at operating their own home business? How do I get started? Should I be answering all those ads that say I am missing the opportunity of a lifetime?
These are some of the questions you may be asking yourself every time you see an ad about starting a business from home. In this article, I will try to help you answer them
Let’s start with that first question, “Should I start my own home business?” The answer to that question is different for everyone. If you hate working nine to five and hate working to make other people rich, then owning your own business might be your answer.
If you have some business skill, it helps, however, you do not need to know more than the basics about running your own business. You have to keep several things in mind. Depending on the type of home business you will be operating, do you have the room for it at your house?
Do you have a separate space where you can do your work without the normal everyday distractions of being at home? The children, your spouse, the TV, the yard that needs mowing and other things are all distractions that can cut into your workday. Also, understand you will still have to work every day. That doesn’t change just because you now have a home business.
The bottom line is you need to plan before you make the move to owning your own home business. Make sure it is what you really want and that you are ready to do what it takes to be a success.
The second question is much like the first, “Do I really want to be my own boss?” If you are self-motivated if you are the type of person who learns fast. if you are a confident type of person, then the answer is yes. If you lack those qualities, then your answer may be no.
Again, that question is something only you can decide and it also depends on the type of business you choose to run. If it is a service oriented business you might have an easier time than with a sales-based home business if you are not the outgoing confident type of person.
Self-motivation is the one quality you can’t do without if you plan to start your own business, whether it will be a home-based business or something else. You will be the one that has to get you out of bed every day and you will be the one that has to tell you to get to work.
What are the risks to operating your own home business? They are several. You should not start your own home business right AFTER quitting your day job. Until your home business starts making money, you are likely going to have to keep your current job while building your home business.
Again, though, the risks are greater for some people than for others. What are your finances? How much is your monthly overhead? Is your income already stretched to the limits? A single person has a head start. A spouse who is not already working also has an advantage over the main breadwinner in starting a home business.
If you are currently working part-time and it costs you almost as much to go to work as you are making, then you may as well take a shot at owning your own business. It isn’t likely to be worse than continuing to pursue a dead-end job.
What are the rewards? The rewards of owning your own home business are many. If you have a family, even though you still have to work, knowing you are home and close by is a comfort to them. Not having to commute back and forth to work is another plus. The gas and vehicle maintenance you save should be considered your first profits in your new home business.
The freedom of being your own boss is another reward. Knowing that it is you who will be making the decisions, who will be responsible for its success, and that it is you who decides everything is the reward in itself. Too many times when working for others, we see a better way to do things, but no one listens and you don’t have the power to make it happen. In your own home business, you will be making those decisions.
The money is the other reward. Why I say, “other”, is that it isn’t as important as the others. Of course you want your business to be successful and it has to make money to be a success, however, if money is your only motivation, I would still say you have less chance of succeeding than many others who are not solely money-motivated.
Choose something you truly like or love to do for your home business. Do it because it is what you want to do. Don’t choose the type of home business with the amount of income it will generate as the only or most important factor to consider.
If you choose something you love to do, it will be easier to motivate yourself and you will obviously enjoy it so much more. When you combine that with the other rewards, such as being close to your family, then the money becomes secondary. At the very same time, you will also find that is the path to making more money. Because you chose something you like to do, you worked harder at it, and now you are making more money. That is how it works.
The last question is, “How many people succeed in their own home business?” My answer is, “Exactly the same number of people who chose to do something they enjoy.”
I hope this article has helped answer some questions you may have had about starting your own home business. I enjoy what I do and really hope that if nothing else, you remember to choose something you enjoy.