Home Business Management 101: Discipline is Crucial to Home Business Success

| October 8, 2009 | 0 Comments

[ad#Google Adsense]As many home businesses are being put up everyday, there are also many that are folding up. A big number of those home businesses fail principally because their owners lack the discipline needed to propel their business forward.

Those people should not have even gone on their own to start a home business in the first place as they cannot follow through their with commitment to the business.

Being Your Own Boss…

Many people fantasize about being their own boss. They are enticed by stories of how liberating it is to work for one’s self at home. While some have it in them to succeed as business owners, others get lost without supervision. There is a big difference between working as an employee and working as a business owner. As an employee, there is a pre-set work plan that you have to follow but as a business owner, you need to create your own schedules, determine which tasks must be prioritized, and be responsible for everything.

…and All-Around Employee

The excitement over the new business wears off as soon as the new business owner realizes that the business is not a game. It’s very real and there’s a lot of work to be done. And the hardest part of it is that you are to handle everything including sales calls, order taking, customer service, website administration, delivery, billing, and collection. You can only hire an employee when you are able to afford to pay salaries. In the beginning, however, you want to keep your costs low so you have to operate the business on your own.

When Reality Bites

Be realistic if you’re giving up your day job to run your own home business. It is not true that you can wake up late or leave anytime you want for an afternoon movie. And you won’t have loads of money that you can carelessly spend on whatever takes your fancy. It is upon realizing these things that many home business owners decide to quit.

Your home business will demand so much time from you especially if it’s in the start-up phase. You may even have to work until the wee hours of the morning and then get up early enough to catch the customers or go to the bank. Do not be surprised if your family time and social life will have to be curtailed during the first few weeks, months, or maybe years.

Anticipating Growth

You have to be careful with your finances as there are bills to pay and you will also have to provide for your living expenses. And as your home business expands, you have to be prepared for the accompanying increase in operating costs. You will also have to spend more on the necessary upgrades of your website and hosting (if you have an online presence), and computer and communications systems. You may also have to acquire additional furniture and equipment.

Most of the things you hear about work-at-home ventures are not completely true. Many will tell you only the fun part. And if you believe that you can work anytime you want, you’re headed for trouble, or at least your business is. Do remember that all businesses must follow a certain schedule. You’re not really working alone. You need the services of others, too, like the post office, the bank and your suppliers. You must transact with them according to their business hours. Even your customers should know when they can get hold of you.

In time, when your business is more stable and you have employees to help, you may shorten your working hours. Even then, if you are one person cut out to be a business owner, you will be looking for new business opportunities instead of running around to have fun.

Category: How to Make Money Online

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