| by Rich Petersen,
University of North Iowa Area SBDC, Mason City, IA Thinking about starting your own home-based business? You're not alone. More and more people are taking advantage of advances in technology and are choosing to work from the comfort of their own homes. But before you trade in your business suit for a bathrobe, you should think: Do you know what it will take to turn your home-based business dreams into reality? Follow these 10 steps to home-based business success:
- Have a Plan.
No matter what the size of the business, every entrepreneur should write a business plan. A detailed and accurate plan will not only help you obtain financing if you need it, it will also help you down the road. As with anything in life, the more planning you get out of the way in the beginning, the less surprises you'll have to encounter in the future.
- Don't Isolate Yourself.
One of the most common complaints of home business owners is the lack of human interaction. Remember that just because you've decided to work solo, doesn't mean you have to give up your relationships all together. Develop and maintain a network of colleagues, friends and mentors who can give you guidance and support along the way. Become active in a trade association or chamber of commerce.
- Get Your House in Order.
No, this isn't a reference to those stacks of paper cluttering your office (we'll deal with that later). Before you start your home business, you need to be sure your financial and legal house is in order. Be sure you have enough money to support yourself if things don't get hopping right away, and be sure you've checked on zoning laws, business licenses, and taxes before you open for business. And, be sure to check in with your insurance agent to see how operating a business will affect your homeowners insurance.
- Design an Office that Works.
Whether you prefer a messy desk or a spotlessly clean office, design a system that works for you. Put files, phone and keyboard within immediate reach. Make sure other equipment is a short walk away so that you can efficiently move between tasks. You also may want to consider getting a second phone line or separate fax line. Most customers are put off when a child answers a business phone.
- Eliminate Distractions.
A serious problem about working at home is all the distractions: children, visitors, the phone, the television ... the list goes on. Let your friends know what your "working" hours are to avoid coffee clicks. Find a way to deal with these distractions so that they don't have a negative impact on your productivity.
- Listen.
Without your customers, you'll probably have trouble keeping your business going. So, make a point to listen to what they're telling you. Your business must be able to solve your customers' needs. And don't forget the importance of a thank you. Keeping your current customers happy is a lot easier than finding new ones.
- Set Goals.
If you know where you're going, it's always easier to get there. Set high goals and strive to achieve them every day. You may even consider putting them up on the wall in view of your desk so that you can use them as motivation and inspiration.
- Be Flexible.
Seize new opportunities and don't let set-backs frustrate you. Be ready and willing to adapt to new strategies when your current plans are not working.
- Remember the Little Things.
Develop a system for organizing all of the little things that you have to do in a day. Whether it's a planner or organizer or a bulletin board with scraps of paper, find a system that works for you and use it.
- Have Fun.
Don't forget that you're in this for fun. Remember the reasons why you're choosing to work at home—fulfillment and happiness. > See also: Home Based Business |
