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How To Start A Successful Business
In the Movie and Play “South Pacific” there is a song called “Talking.” The words to that song go like this. Feel free to sing it. “Talking, talking, talking, talking, talk. Talk about thing you’d like to do. You have to have a dream. If you don’t...
Leadership Success and Its Greatest Barrier: the Law of Administrivia
Years ago, a very wise, and often cynical boss of mine asked me for a definition of management. After reflecting on the question I proceeded to give him an intellectually careful and, I thought, accurate definition. He allowed me to complete the...
Managing Time and Paperwork
When we own a business, whether it is small or large, it is
important to managing our times by using the appropriate
documents for business. For example, if you own a business
creating invoices is part of the plan. If you have a stack...
Non-Profit Organizations - What Are They?
Definition of Fund; Assets; and Fund Balance According to the “Financial and Accounting Guide for Not-For-Profit Organizations” written by CPAs Gross, Larkin, Bruttomesso, and McNalley, (fifth edition, pg 25) the definition of a these three terms...
Running Out Of TIme?
Running Out of Time? "Since time is the one immaterial object which we cannot influence--neither speed up nor slow down, add to nor diminish-- it is an imponderably valuable gift." -Maya Angelou Do you constantly feel like you are on...
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Home Business Failures - How to Avoid Them
It's been said that 80% of all small business die within the first 3 years. And the rest are some how struggling along with meager revenues. Only a handful is successful. Home based business has an even shorter lifespan. Every enthusiastic home based venture starts out with a big promise, a lot of excitement and enthusiasm.
However at the first signs of trouble or a slow take off the people become panicky. Having been accustomed to regular pay check, when the money does not roll in week after week and the bank balance hits the low digits, there is a sense of panic and the exciting home business gets trashed.
My own experience tells me this happens just when you are through with organizing, setting up and the difficult transition period of reaching out to the customers, you decide to wind up the business in favor of a job.
Now here are a few tips to persevere and make a success of your home business.
Plan in advance your finances for running your family for a minimum period of 6 months.
Plan every aspect of your business - right from creating the product to final shipments - on paper. Don't leave out anything. This is what is called a business plan. Make it elaborate and group each aspect under a heading and subheading.
Home workers need to set a disciplined work schedule. Having no bosses around or compulsions of commuting may make you take things easy and relaxed. At least for the first 6 month work as if you are in employment and put in the required hours. You can relax and cut down on working
hours when you start earning enough.
Don't procrastinate or put things off for tomorrow. Action is one major ingredient for success. If you need to do something do it today. Do it now.
It is essential to keep your motivation high. Read about the success of other small business and home business owners and learn what they did right. Duplicating someone else who has succeeded makes it easy to succeed yourself.
You may suddenly find yourself alone without the social support of colleagues and friends. Even persons you considered your best friends may avoid you if they feel you are in trouble. That is OK. You get to know who's who in times of adversity. Learn to depend on yourself than outside support.
Be prepared to take the temporary pain and denials. Robert Kiyosaki of 'Rich Dad Poor Dad' fame and his wife slept in their car for a few months and lived in a basement of a friends house for many more months to achieve what they set out - their financial freedom.
Believe in yourself and keep going even if the going gets tough. The rewards far outweigh the pains and temporary sufferings. Remember the darkest hour is just before the dawn breaks out and sun rises.
About the Author
R.G. Srinivasan is a Management professional, Writer and Author. He writes a regular blog on home-business resources available at http://www.home-businessresources.blogspot.com for online marketing tips, resources, opportunities and online promotional strategies
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