The Biggest Mistakes
Copyright © Craig Warren
When you’re starting a home business, it’s all too easy
to make mistakes after all, you’ve never done this
before. Fortunately for you though, you can learn from
others errors, by making sure you don’t do any of these
Thinking Skills You Don’t Have Aren’t Important.
So you have no idea how to keep records and accounts, or
you don’t know how to maintain a mailing list. You need
to learn these things! Too many home business owners just
do the things that they know how to do, and assume that
they can probably get by without everything else.
You need to realize that when you’re running a home
business, you’re going to need to do as much as you can
for yourself, especially when you’re starting out. This
means that you can’t get by if your business skills are
lacking. I always say that everyone who is thinking of
starting a business should take an inexpensive and quick
local business course, and I stand by it even if you
think you’ll be fine, it can’t hurt, can it?
Not Managing Your Time.
When you’re used to working nine to five, an easy trap
to fall into is not managing your time effectively. Your
home is full of distractions, and there won’t be anyone
there to tell you to get on with it. If you’re prone to
daydreaming or procrastinating then this can be
disastrous. Whole days can go by with only tiny amounts
of work getting done.
You need to be sure that you have a schedule and you
stick to it. Draw a clear line between work and non-work
time and don’t cross the line in either direction. Apart
from that, the word to remember is prioritize. Appreciate
that you won’t always be able to do everything but make
sure you get at least the important things done.
Making Clients Think You’re a Joke.
There are many home businesses where clients might need
to visit your home but make sure it’s fit for visiting!
You can’t lead them into a messy office, or be holding
your dog back from barking at them when you first meet.
Remember that professionalism is important, and it’s too
easy to end up looking silly if you don’t plan how you’re
going to make a good impression when you invite people to
If you can’t afford a business annex to your house,
then consider hiring someone to look after your dog or
children for a few hours while you have a business
meeting there. It might also be worth paying a cleaner to
give the place a quick once-over, if you haven’t had time
to clean up for a while.
Too many home businesses, when asked who their target
market is, say well everyone, silly. Your target market
is never everyone — if it is, you will fail. You can’t
just choose an industry and advertise your new-found
profession to everyone, in the hope that someone will
work out that the fact you’re an electrician means maybe
they should ask you about re-wiring their house.
The key to success is this, think about what you can do,
and then market that to people who will want it.
Advertise in places where these people are. If your
business has no target market, then you have no business,
Making Start-Up Costs Too High.
Finally, too many people over-estimate how much money
it’s going to take to start a home business. Do you
really buy all brand-new equipment? If you’re spending
thousands of dollars before you’ve made any sales at all,
you’re setting yourself up for a disappointment.
Start your business on a shoestring, work hard, and
expand gradually otherwise you’re setting yourself up
for a big fall. However much you might think you ought
to do things properly, you need to make sure that
you’re minimizing costs and maximizing profit every step
of the way, otherwise you’re failing yourself as a home
business owner. It’s when you start to get some bigger
clients and better cash-flow that you can start paying a
little extra to make your business life more comfortable.
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