Starting a successful home-based business has become a dream for millions of people, I know, I work for some. Daydreams of raking in millions of dollars while working from the comfort of home is an irresistible thought after going through the grind of a standard nine to five job. Reality, however, is that it’s much harder than most think it is.
Even though home-based businesses are becoming much more popular than they were years ago, the vast majority of home workers are not exactly millionaires. Trust me, I know. They call me constantly looking for topnotch SEO but they don’t even have a dollar to pay for it. On average, an American who works at home brings home less than $15,000 annually. This may be enough to supplement many incomes, but it can definitely be improved upon.
Starting a home-based business takes inspiration and attitude, but none of that will help if it doesn’t make you money. For the person who is serious about working from home, getting rid of the day job, and not settling for a small income, here are my five absolute musts for building a successful home-based business, and for pulling in more than just peanuts.
1. Making a Commitment
Study after study shows that most Americans hate their jobs. Even the freedom of the weekend is not enough because it is a temporary freedom. It’s hard to enjoy the end of a weekend when you know that the start of another grueling week is only hours away.
There’s a reason that people detest their jobs. Most people have to deal with kissing up to a boss whom they don’t respect, putting up with long, boring meetings that amount to nothing but lost time, supervisors who are always breathing down your neck, and co-workers that will smile at you while simultaneously stepping on you to get to the top.
Those who choose to work at home do so for more than just the aforementioned reasons. The truly successful individuals who choose to work for themselves have made a promise to live a life that is centered on their own happiness, health, and prosperity. Attaining this type of lifestyle requires a fanatical attitude toward making a business work and the idea that nothing else will be as important in your life.
Too many people make compromises and convince themselves that their job isn’t as bad as it really is. Making the leap to a successful entrepreneur means making a commitment that no compromise will ever be acceptable. It means knowing that working for anyone other than yourself would be equal to death.
2. The Right Attitude
Making the shift to a work from home job doesn’t mean it should be treated as a hobby. It’s a mistake to leave your day job and sit at home thinking that your work should be taken less seriously than your previous work for someone else. A serious-minded entrepreneur needs to stop thinking small. This is thinking where the part of the home in home-based-business is focused on more than the business part.
Working from home is beneficial for many reasons. Time is saved because of the lack of commute, and more control is held over a schedule. Costs are lowered because of the lack of overhead costs that many large corporations have to endure. Stress is lowered in a home environment, and more energy can be attained from being able to rest and work at a self-scheduled time. These advantages can lead to profit for our businesses.
3. An Ideal Workspace
There has never been a better time to start your own business from home than now. We live in a digital age where most mandatory office items are available to the average person at an affordable rate. An office can be run from a kitchen table or a dedicated room in the home set up as an office. Telephones, computers, fax machines, and high-speed Internet connections eliminate the need to go into a large company office everyday and to be able to do the same job from home.
With all of this technology at your command, you should allow yourself to think bigger. Instead of just thinking locally targeted customers for your business, you should be thinking of how you can deliver your product or service to the world. A successful home-based-business is dependent on thinking larger and trying to compete with the big companies.
The ideal workspace will enable you to spend less on a costly overhead than a traditional company would have to pay. All the costs of office rent, employee’s salaries, equipment expenses, furniture, and heating and air will be virtually nonexistent to a home-based-business owner. All the money saved on these inconveniences can be used to the advantage of marketing and research or recycled back into the business.
With the advantages of all the technology attainable today, any entrepreneur can become more successful by using every tool available to them to challenge the larger companies and increase profits.
4. A Good Computer
A decent computer can be your number-one weapon in your plan to create a successful and lucrative home-based business. As a business that usually has just one employee, the computer is your lifeline to staying organized and staying in communication with the world and your customers. Computers let you stay on track and document every situation that may arise in your business. They allow you to store every bit of information needed to stay the course and become as successful as possible.
Computers used to be nothing more than simple data-storage systems that you could also play games on. With the advent of modems and the Internet, the computer becomes a communications center and an ultra-efficient task handler. E-mail and the Web have revolutionized the way businesses are run. In today’s world, if you have no computer, you have no business.
Of course, the computer alone won’t make you rich and successful. An understanding of the way Internet marketing is handled and being able to branch out worldwide counts for everything in being capable enough to use the computer as a tool for bringing your home-based business to the top. Becoming computer-savvy will get you closer to successful entrepreneurship.
5. A Solid Schedule
The four tips above will get you pretty far in your efforts to rise above mediocrity in your business and to reach for the gold. The trouble is that without this last requirement firmly in place, no home worker can ever expect to succeed at running a successful business. The time spent on actual work is as important as anything else you will ever do to try to rise to the top. Too many people make the switch to working for themselves and then blow it by not putting in the proper hours of work. This is truly where the people who won’t make it are separated from the ones who will become successful.
Coming up with a schedule that gets you working early in the day and staying long after everyone else went home means that you will get an edge on the customers who others will miss. Adopt the mindset that you will be available on weekends and holidays and that customers can get to you 24 hours a day, whether that’s through a phone number or a website.
If you started your work-from-home business because you wanted to have the free time available, don’t expect the riches that come to those who put in the work required. For most who make the transition, they will find that it doesn’t seem at all like work as they are truly doing what they love to do.
Running your own company means being inspired around the clock. If you keep it fun and stop thinking of it as work, that’s when no one can stop you. You can only reach your goals of having that successful home-based business if you commit to your dreams, put every bit of your energy into it, and stick with it for the long haul. That’s when you’ll find what success really is.