How to be Successful With a Home Based Business

by Ron P on October 24, 2011

in Home Based Business, Work From Home Tips

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The question is often asked how to be successful with a home based business? Well it is in reach now more than ever before. The Internet has brought forth many amazing opportunities that anyone with a little motivation can use to earn an income online.

Some great examples of home businesses include affiliate marketing, freelance services, ghostwriting, information product creation and more. Do your research to see what these options entail. Then, choose the model you’re interested in using for your own home business.

It can be a bit overwhelming and intimidating once you begin setting up shop. To help ease the fears and avoid common mistakes, here are 4 quick tips to help.

It’s a Business

Once you’ve decided what you’re going to do as your home business you need to treat it a business, not a hobby. When a person has a job and goes work, that person has a start time, time for breaks/lunch and an end time. That person would have a space of their own (an office or cubicle) to work in with minimal distractions. You should make the same concessions for your home business. You owe it to your business to treat it like one.

Create a schedule and stick to it. Let your family and friends know what days and hours you’ll be working. Be sure to let them know that you won’t be available while you’re building your business. If you’re working at home with little ones, you may have to create your schedule around theirs by getting up earlier or staying up later.

If you act like your business is a hobby then you’ll spend money on it. Treat your business as a business and you’ll make money for your efforts.

Stuff You Need

Like any other business you need “stuff” to be successful. The items in your workspace don’t need to be expensive, just functional. If your office ends up being at your kitchen table, that’s ok.  As long as you're treating your business like a business, that matters the most. The “stuff” we recommend just makes it easier.

You’ll need:

A space where you can work quietly

A comfy chair

A computer

A printer

Paper & Pens/Pencils

Phone and Fax (If necessary for your business)

Calendar

Spend enough money on a chair and workspace so that you are comfortable enough to work for your scheduled work day. If you develop a sore back, elbows, or wrists in your first month of working from home, you'll be sabotaging your own success.

Daily Routines

Two of the biggest problems you’ll find with working from home are managing your time and keeping your focus.

Remember the mantra? Your business is a business. But, there are daily tasks that need to be done which can become huge time warps if the reigns aren’t kept tight. These can sap your energy & creativity.

Email, forums, chat applications and social networking are necessary evils. If you don't keep a tight rein on your networking, it can easily become a matter of fitting your business in between your other Internet activities, instead of the other way around. Once you get your money making tasks out of the way each day, you can create time chunks to do the fun stuff.

When finances settle down, hire a VA or outsource the tasks that must be done but could be left to a helper to do.

There are so many ways you can manage your time effectively. You just need to find the way that works best for you whether its to-do lists, time chunking, daily activities or something else.

Keeping your focus is as important as managing your time. If you get distracted by your email, chat rooms, social network, phone calls or neighbors dropping by you aren’t likely to get your money making tasks completed.

Be sure to find the discipline to run your business. Since you’re the boss you are only accountable to yourself unless you have a partner. Look for someone in the same mentoring group or with a similar business to help keep you both focused on your daily, money making activities.

However, don’t be afraid to take breaks to refresh your mind. Remember, you’re the boss so you can call it an early day or a day off completely if necessary. Just don’t forget that along with free time & days off you need to fit in work time for your home business.

Take Action

You most likely already know enough to get started. However, a common mistake is to continue to learn, thinking that you need to know more and more and more – and not actually taking action. You don’t need to buy more ebooks or ecourses to learn more stuff to get started. Get over your fear of success, put one foot in front of the other and get to doing. You can always revise or redo later. The important thing is to TAKE ACTION.

Make a deal with yourself to work with what you know NOW and don’t buy anything else until you actually make some money. That snazzy-sounding course is not going to put up your website, write your copy or create that product. Make a list of the money making action items you need to complete and do those first.

Having a successful home business is possible, but it takes hard work and dedication. There are many time wasters and time suckers out there that can and will stand in your way. Success will not happen overnight, but if you keep your focal point in mind and work hard, you will definitely reap the rewards.

Best,

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