90% of new home businesses fail. They fail because people treat their business like a hobby and take their new-found freedom and become lazy. Set a schedule for yourself and follow it. Create to-do lists and stay on top of them. Make a budget and be sure to be realistic with your income projections. Pay attention to the details. Don’t just think long term. If you’re going to work from home you need to take it seriously and treat it like a business.
Of the 97% of the home businesses that fail, 70% are in the first 3 months. If you can’t survive the short term you won’t live to see the long term. You are now your own boss and you can’t take that responsibility lightly. If you don’t stay focused and motivated on your new business you will fail, and more than likely, fail quickly.
Play to Your Strengths.
There are countless opportunities in the home business arena. It would be prudent and wise to pick something that plays to your interests and your skill sets. Assess your talents and skills and then combine your interests to formulate your business plan. Too often new home business owners get involved in an industry where they have no experience and knowledge. It is possible to succeed in a completely new industry, but for first-time business owners you’re likelihood of success dramatically increases if you stick with something that you’re familiar with. Make sure you enjoy the business that you get involved with. Life is too short to get involved in something that makes you miserable. If you are enjoying your new home business it’ll be more likely to succeed in the long run.
Be a doer.
This goes without saying. But it still needs to be talked about. You’ve heard it a thousand times, but it couldn’t be more right on. For your new home business to be successful you’re going to have to take some action. When difficult times come, and they will, you need to be one who tackles the problems instead of the one who raises the white flag and runs to another opportunity. If running a business from home were so easy everybody would be doing it. There are some incredible benefits to running a business from home, but the blessings also comes with challenges. If you want to be part of the 10% of home businesses that succeed you better become a doer and an action taker right now.
Choose your Business Model
Once you pick your home business model make sure to do your due diligence and research the opportunity thoroughly. You do not want to join the ranks of those who get scammed by one of the get rich quick scams that are all over the internet. Community forums, product and service reviews, and entrepreneur blogs are a great way to get unbiased opinions on different companies and opportunities. Remember, there are more than 100 million other people globally that are in the same boat as you, so valuable information won’t be difficult to find.. There’s no reason you can’t be one of them. Now go make some money.