Avoid These Deadly Mistakes When Operating Your Home Business

If you are thinking about making the jump from your office job to a home business

, then you are taking a very risky move. Two thirds of small businesses fail within their first two years. Of course, that doesn't mean you are doomed to failure. One third of small businesses are successful, and there's no reason why yours can't be. But if you treat it too casually, you won't have much of a chance. If you are just going off vague hope and motivation, you may mean well, but your business may very well crash and burn. However, when you take specific steps to keep this from happening, you'll have a much greater chance of success.

The most important thing you'll need is a detailed business plan. This means you'll need to know exactly how you are going to produce whatever it is that you want to sell. You'll also need to know how much you'll sell it for, and to whom. This means you'll need to have a marketing and sales plan. You'll also need a plan "B" for when your sales don't meet expectations. Even if you've got the money for your business already, prepare a business report as if getting approval for a loan was the only way you would be able to start your business.

You'll need to work business hours. That means no sleeping late, no taking long breaks to watch TV. You need to get up at the same time every day, and work a full eight hours. In the beginning, you'll likely need to work more than eight hours, maybe ten or even twelve. The first few months of your business is going to be crucial.

When you do work, make sure you dress professionally. Even if your business is completely online, don't make the mistake of sitting around in your underwear. This is a subconscious message that means you don't take your business seriously.

If it helps, pretend that the meanest boss that ever lived is always watching over your shoulder, and if you slack off just once, you're fired, and will be out on the streets. This may be harsh, but it's a great way to keep your motivation high.

Something that is absolutely essential is time management skills. You need to be able to manage your time, and prioritize all your tasks.

Following this advice will give you a lot better chance of being successful. Just stick to your plan, work your business like your life depends on it, and don't ever give up.

by: Winston Takeda

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