Will Your Home Business Boom or Bust?

Seven Personal Challenges That Determine Your Home Business Future

Are you one of the many people who are working from home? Perhaps you operate a home based business or work for a company who is saving on office space. Either way, you have some new challenges. Here are the top seven challenges to having a successful home based business.

1. Doing everything your way. Most home based business owners get very excited about being their own boss. Truthfully, it IS exciting to set your own hours knowing that no one is looking over your shoulder. Yet there are two sides to this story. You are also your own employee! Be honest! Are there some tasks for which you would never hire yourself?

2. Dealing with delays and interruptions. When you’re working at home it is a challenge to separate your private life from your workday. Children, pets, neighbors, mail men, and gardeners are part of your office landscape. There is no hard and fast rule to guide your attention. You will get interrupted. Your priorities will determine your outcome.

3. Staying focused. Even if there are no delays and interruptions, most people find it a challenge to stay focused. You may find that your mind strays, or your online research becomes an episode of “Lost In Web Space”!! One of the best things you can do is anticipate this challenge. Learn to forgive yourself and come back to productive work.

4. Motivation. It is no secret that your motivation will fluctuate from day to day. When your motivation is high you’re likely to achieve more. Be aware that if your motivation slips for more than a few days it can become a destructive habit. To be successful you MUST have a support system. It can be devastating to watch your business fail, knowing that you are the cause.
5. Communicating effectively. This topic could be a series of articles. There are so many ways to communicate using the phone, email, print, social media, networking, advertising, speaking and many more. There are times you can communicate by telephone and many other times that you must meet in person up. Once you decide what is most effective for you, commit to becoming a master. Take a class, read a book or look for someone to mentor you. It is worth it!

6. Listening effectively. To be successful you need to identify and solve your customer’s problem. More importantly, your prospect has to BELIEVE that you understand them and are proposing the right solution. Ask lots of questions and listen to your prospect’s answers. If you find yourself twisting your product or service to fit every possible solution you may want to ask yourself, “Was I really listening?”

7. Doing everything yourself to keep expenses down. You may be working from home in order to save on expenses. We are fortunate to live in a time when we can be in business with a computer, phone, printer and internet connection! When there is very little money coming in, it is tempting to economize by learning new skills. You might put up your own website, design your business cards, start a newsletter or create a mail campaign. Before long you find yourself losing days or weeks in front of tutorials without any additional revenue. You are caught in the trap! Set aside funds to hire professionals. Spend your time on revenue producing activity. That is the fastest way to create success in your business.

Your home based business can be an adventure that brings out the very best in you. It will be a learning experience every single day. You will be called upon to be the very best you can be! Decide every day to enjoy the process, to learn from every choice and to create a support system of friends, mentors and professionals who have a stake in your success. Lastly, smile and enjoy the ride!