3 Tips to Help your Work From Home Business Survive

by Ron P on September 8, 2011

in Homebased Business Tips


There is an oft-quoted statistic that states 95% of all businesses fail within the first year. Of course, those who quote it never give the source of the “statistic”. It’s a hard number to get right because a lot of people that start businesses don’t really give it their all. All of this is to say that if you want to work from home you don’t have to be part of the statistic, as long as you take the right approach.

So, what is the right approach. It’s quite simple when you think about it, yet many people never grasp it. They want to work from home and earn money doing, but they don’t take it seriously. To put it in the simplest terms, if you want to succeed in business then you need to treat it like a business.

The truth is that this can be a bit scary for those who have had a boss all of their working lives. It’s okay to experience a bit of anxiety, it means you don’t want to fail. The good news is that there are a few simple things you can do to increase your chances of work at home success.

1. Set aside an area just for work. Sure, you will be at home, but you also need a space where you can go into “work mode”. Whether this is a corner in the living room, or a spare room, you need an area that is for work only. If you have two computers, then use one for work and nothing else. Have the things you need for your work at home endeavor close to this space so you can stay focused. The idea is to not only create a physical connection to your workspace, but a mental one as well. You will take things more seriously, get more done, and ultimately earn more as a result.

2. Make a schedule. One of the main reasons people like to work from home is the flexibility. However, having a schedule will keep you on track. On the plus side, you get to decide exactly what your schedule will be. If you want to start at 11:00 AM and take a three hour break for dinner, then by all means, go right ahead. Make a schedule, but make it one that you won’t mind following.

3. Keep records. This doesn’t have to be anything complicated. Just be sure to track everything you spend on your business (hold on to the receipts) and any money that comes in. Do this as it happens, or at the end of each day. When tax time comes, you will be glad you kept track. Also, get an accountant. Real businesses have accountants and they will be able to advise you on money and tax matters.

If you want to work from home and would rather not be a part of the 95% of businesses that fail, then use the above tips. They will make a big difference.

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