Starting a business of any kind is incredibly hard and for a first-time entrepreneur, it’s always a challenging thing. However, when you decide to run a business from home or start a home-based business, things might get even more confusing. First of all, it will be a lot harder to maintain a high level of productivity. Second, it will be harder and harder to set a line between your professional and your private life. Finally, there might come a time when you lose a sense of direction and can’t seem to get back on track. Here are seven tips you should hear in order to avoid all of the inevitable difficulties of starting a home business.
Top 7 Tips For Starting A Home Business Successfully
1. Parkinson’s Law
The first thing that everyone will tell you when entering the business world is the fact that you need to make your own schedule and stick to it. Now, deadlines are one of the greatest hazards of this method. This is due to the fact that the further you set them, the more it will take to get the job done. This is what Parkinson’s law is all about and it states that work expands so as to fill the time available for its completion. Therefore, never give yourself more time to complete the task than you objectively need to.
2. Set Up A Proper Office Area
Another thing you need to hear as soon as possible is the fact that you can’t run a business from your living room couch, at least not efficiently. This is why you need a proper office and why the majority of entrepreneurs even dress up for their home-office. To some, this creates a sense of continuity that’s vital for one to thrive and prosper. Also, take a separate room for an office instead of going with a dual- purpose room or a closet-office. This will not only help you focus but also allow you to qualify for some tax deductions.
3. Work Every Single Day
Let’s be completely honest and admit that even as a committed home-based entrepreneur, you won’t have to work every single day. However, it’s incredibly important that you do. Even on the days when you’re feeling completely unfocused, you need to remember one thing – everything worth doing is worth doing poorly. In other words, a self-publishing author who has set a goal of writing 5 pages every day will be much better off by just writing a single sentence today, than by not writing anything at all.
4. Find An Exhaust Vent
One more thing you need to do is find yourself an exhaust vent to help you blow off some steam. Ideally, you should find an outdoor activity, so that you can get an excuse to get outside at least several times every day. Going for an evening stroll with your pet is a great method to achieve this and gardening is even better. Don’t be afraid, even a high-end gardening gear can be purchased frugally online and with the right contact, you can even shop for sheds online. This hobby might be the thing that keeps you sane in the darkest moments of your entrepreneurial life.
5. Invest In Marketing
As a home-based business, you won’t have quite as many networking opportunities as a traditional business does. Therefore, you need to increase your marketing investments in order to spread the word out. Depending on your industry and your target market, different methods might seem appropriate, just keep in mind that neglecting your marketing never ends up being a smart move. Also, despite the fact that the nature of your work might require greater investment in digital marketing, you should never neglect or underestimate old-school marketing methods, either.
6. Have ‘The Talk’ With Everyone
One of the biggest problems that every single telecommuter faces at some point of their career is having a hard time explaining to people that just because they’re at home, this doesn’t mean that they’re free or, for that matter, available. Still, a lot of people feel disappointed at this lack of understanding and empathy before even trying to have ‘the talk’ with people in question. Talk with your roommate, partner, friends and family and try to explain your business model and methods. You might be surprised at just how understanding they are.
7. Focus On Your Work-Life Balance
The last thing worth mentioning is the fact that as you become an entrepreneur and get to work longer hours, you will be less available, more stressed out and, let’s face it, a much less pleasant company. This is something that you just can’t allow to happen. Your mental health greatly depends on your ability to find some time for people who are dear to you, so you need to make this into a top priority.
Work From Home Like A Boss
A home business can be good or bad depending on how you start and manage it. At the end of the day, you are still running a business, which means that writing a business plan, managing your finances, fundraising and maintaining a steady cash flow play a pivotal part in your success. This aspect of running a home business is a story for another time, covered in our other home biz articles. Your first objective of your home business should always be to provide yourself with mechanisms necessary to cope with the lifestyle of a home-based entrepreneur. Once this is out of the way, you can worry about the previously mentioned logistical aspects of running a business.
