First, you'll need to determine if you have what it takes to work from home.
It's crucial for you to determine your strengths and weaknesses before you head out of the starting gate.
What's the difference between a telecommuting job and a home-based business? A telecommuting job means that you are an employee who works from home.
A home-based business means that you own and operate a business from home.
While this book focuses on the home-based business, it also touches upon many subjects that a telecommuter needs in order to be successful, such as staying motivated, time management, and setting up a productive office.
Do You Have the Physical and Emotional Stamina? Starting a new business can be very demanding.
As a business owner, you will be required to wear many hats and switch those hats in the blink of an eye.
This can be stressful to your physical and emotional health.
The following questions will help you gauge your stamina.
Again, there are no wrong answers.
Just answer them honestly and use the information to determine if a home-based business is the best choice for you.
1.
Are you prepared to put in long hours to succeed? It's not uncommon for a business owner to work 12 or more hours a day, including weekends and holidays.
2.
Do you have the support of your family? Without the support of your loved ones you are far less likely to succeed.
Are members of your household willing to take on additional responsibilities without complaining? Are they prepared to cut back on unnecessary expenses while you are in the start-up phase? If your family is against your decision, it won't be easy to get where you want to go.
This doesn't mean it's impossible, just that it's more difficult.
3.
Are you pursuing a business venture that fills you with joy and excitement? If you don't have a passion for the business you are pursuing, chances are you won't achieve the level of success you desire.
A strong passion for your work can shield you against burn-out, physical illness, or emotional distress.
Do You Have the Right Skills? Every business requires the application of certain skills to be successful.
Without these key skills you run the risk of failure.
It's nearly impossible to possess every skill required to operate a successful business.
The best solution is to hire outside contractors to do the jobs that you cannot perform.
For instance, if you have no knowledge of accounting, you can hire someone to do the accounting work for you.
However, you still need to possess a basic knowledge of accounting in order to understand the reports the accountant provides to you.
The important thing is to recognize the areas of your business requiring additional support.
These questions will help you identify the skills you possess and those you need to acquire.
1.
Do you have previous experience in a business similar to the one you're starting? If not, you should research your chosen industry.
It's necessary to understand your market, your customers, and your competitors.
2.
Can you plan and organize? You need to be able to stay on top of things such as your schedule, marketing promotions, accounting and financial records, inventory, etc.
3.
Can you make decisions? As a business owner, you will be responsible for every decision - from what paper clips to buy to where to advertise.
You need to be able to make decisions quickly and have the guts to stand by every decision you make.
4.
Do you work well under pressure? Owning a business generally equates to an increased amount of stress.
You need to be able to keep your focus and work through every issue that arises.
5.
Can you complete projects? As a business owner, you are the one responsible for seeing things through to the end.
If you can't finish what you started, you're headed for disaster.
Not only that, you also need to be able to complete projects that you may not like; e.
g.
; accounting and paperwork.
These are the essential skills that every business owner should possess.
Follow through on your answers to all of the above questions.
Take action to strengthen your weaknesses.
If you've never worked in a supervisory position, enroll in a class to develop your skills.
If you've never created a marketing brochure, take a course in marketing.
Developing essential business skills prepares you to move forward into market analysis and the start-up planning phases of your business.
If you take the time to analyze and prepare, you will increase the likelihood of surviving the first year in business.
Make Sure You Are Ready To Work From Home.