When running an online home business, there is no one to help stay on track. Poor planning, or lack of follow through, will lead to failure and the responsibility lie squarely with the home business owner. Still, there are several advantages to owning a home business:
Advantages of owning a business
- There are no bosses to report to.
- There is no commute.
- The pace and work hours are flexible.
- There is no dress code.
- It is usually easer to balance both personal and professional lives.
These advantages are very compelling. That’s why more and more people seizing the opportunities that an online home businesses provides.
Before giving up the day job and taking the plunge into a home business, however, here are some things to consider. When answering the following questions, be completely honest. It doesn’t pay to ignore the parts that will be difficult.
Is an Online Home Business Feasible?
- Do you have enough discipline to create a regular work day for yourself?
- When the work day is over, can you focus your personal life and not the business?
- Do have good leadership skills along with personal drive?
- Are you willing and able to endure long hours of hard work before the business becomes fully operational?
- Are you emotionally ready to deal with risk?
- Can you wait several months, or even years, before you make a profit?
- Do you have some knowledge or expertise in the business you’re starting?
- Can you identify your particular niche market and customer base?
- Do you know how to sell enough of your products at a price that will create adequate profits for you?
- Can you obtain the money you need to open and operate your business without creating a personal cash flow problem?
- Do you like to plan ahead and then execute those plans?
- Are you motivated and disciplined enough to do all of the required work, all of the time, instead of watching TV, reading a book, catching up on housework or just enjoying a sunny day?
- Do you live in a home environment that’s conducive to productive work? Do you have a separate room you can shut off from the rest of the house to give you that kind of privacy?
- Do you have good organization skills and an eye for detail? Remember, there is no safety net.
- Are you customer service oriented? Are you willing to take the extra steps needed to keep your customers happy and gain new ones?
If the answer to most of these questions is ‘yes,’ the more likely it is that a home based online business can succeed. Don’t give up the day job just yet, but seriously considering opening up a part time home business may not be as far fetched as it sounds.