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Vol. 1 issue #92 Jan 23, 2003  
 

 

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It's your home business - Will it sink or swim?
2004 By Michele Miller



 

Businesses fail for many different reasons.
Here's what you should be thinking about so that your business is not one that sinks, but one that swims and stays afloat!

If you're looking at a new business, make up  a business plan, include your goals and  financial projections. YOU need to know more  than anyone where you are headed. Your business  plan doesn't have to be drawn up by a  professional business planner, you can do it
yourself. Write down the hard costs of getting  the business started and maintained, including  costs of licenses, equipment, inventory etc.
Don't forget to include how much income you will  need to be bringing in, or have saved up until  you start to show a profit. Always have a  Plan-B in place. Lack of planning will have  your business sinking in no time at all.



400% MORE

Business is changing more rapidly than ever before. Business owners are generally "go-getters",  which means they are usually hard workers.  Staying disciplined, even for the hard worker
can be difficult at times, especially when there is no boss or supervisor around to crack that whip and make you do your work. Getting lazy and not  being productive with your business is a surefire  way to sink it.

Here are some tips to keep you on track and keep  your business afloat.

Daily "to do" lists are constant reminders  that keep you on track. They keep you  motivated, and it feels good to cross things  off as you get things done. You need to have a sense of accomplishment, and this helps  serve that purpose.
 

 

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Push your business to new heights every day by doing just a little bit more than you need to. This will ensure that it will SWIM.

Break up your day into segments; plan your day  properly. Give yourself a proper work time  schedule and try to stick with it. Even if you
don't work 9-5 anymore, pretend you do. Having  your own home business often means working more than eight hours a day to turn a profit. Be  prepared for that. That way you will SWIM and  not SINK.

Give yourself a proper lunch break. This  will give you a routine and give you  something to look forward to. Reward yourself  for keeping up with your work. It will keep you  positive and motivated.

Post inspiring quotes and verses in your  home business area.

Don't allow friends and family to drop by and take up your time. In the beginning, I had friends that thought because I worked from home that I could sit around and chat with them all day long. It's amazing that they think this, but they do. Be firm with them. My friends now know that
they had better call before they "pop in for a  coffee", and I do tell them "no" if it's not  convenient. Lazing around watching TV or chatting  with friends is 100% guaranteed to help SINK your  business.

 


 

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Another time taker is the telephone.  I screen  my calls and let the machine pick up almost all  day, unless it is about business.  Caller ID was  a super investment!  It will help your business  to have Caller ID.  I promise.

Mentally remind yourself from time to time that  one of the reasons your home business can fail is  procrastination.  The fear of this should help keep your business on the right track.

I think you know what bad employees can do to  a business; be careful who represents you/works  for you. 
If you don't have time to do your work and work  your business, it's bound to SINK!  Don't let  other aspects of life get in the way.  Sure the  car needs washing, the laundry needs doing, the  house needs cleaning, you need to get other things  done, but not during business hours.  The key here  is to PRIORITIZE properly and take your business
seriously.

Try and get some daily exercise.  It refreshes you  and clears the mind.  It will help you stay positive. Plus, it's good for you.

Network with other "successful people" who own a  similar type of business.  If you are having trouble  finding these people, try your local Chamber of  Commerce, or just contact other business owners. Try
to learn from people who have been successful; make  sure they've walked the walk before you take their advice. 

Taking this advice will hopefully give you some ideas about keeping your business afloat, swimming, and very successful. 

To Your Success!
 

 

ABOUT THE AUTHOR:
Michele Miller is a home-based business owner and a medical transcriptionist. She is also the author of an E-book about how to become a home based medical transcriptionist. You can visit her website at: http://www.medical-transcription-at-home.com
 
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