Did you know that every 11 seconds, a new home-based business is started somewhere around the world? Review this start your business. Someone has decided “enough is enough,” “I want to be free,” “I want to be your own boss,” “I need extra income,” “I am ready to retired.” Every 11 seconds, someone is taking the leap of faith and is making it happen. By the time I’ve complete this blog, over 60 individuals are now a new entrepreneur.
According to Small Business Administration, Office of Advocacy, there are more than 20,000 home-based entrepreneurs grossing over $1 million each. Overall, home-based business generates approximately $427 billion per year. As more take the leap of faith, the amount will climb steadily.
Before you be your own boss
Get the facts. Understand what it takes to start and what it takes to maintain. You see although new entrepreneurs are embarking on home-based business opportunities, a lot of them fall off. Why? Because they are expecting microwave results in an area that takes time to build.
Have you ever placed a warm-up in a microwave and noticed how quickly it cools vs something in the oven or over the stove. “Good things come to those that wait.” If you continued to work your newly found business or a business you’ve been in a while, you will eventually see results.
Understand consistency. It is the key to any oven cooked business. It places you above the rest. It gives you a clear understanding of what you need to do and what you should be doing. Create a marketing plan that you are able to maintain and consistency will keep you on that path.
Remember, no path runs smoothly throughout the journey. There will be potholes – drive over them, curvy roads – go around them, and some steep hills – climb over them.
Know Your Business
Do the investigation before you sign your name on the dotted line. Understand the compensation plan. Understand what you are distributing, and understand the cost. There are over 1 million different home-based small businesses around the world. Starting a business involves planning, making key financial decisions and completing a series of legal activities.
As I mentioned above, get the facts. Network with those that are already doing what you are planning to do. Ask the right questions and get in the know (connect to those that know). Generate leads and attract customers daily. Understand the world is your customer as opposed to just the people in your own backyard.
Know there will be obstacles, nay sayers discouraging you, don’t give up, stay on the path.