Are You One Of The 5% Who Will Succeed At A Home Business?

Copyright © Debbie Penner
http://www.ExponentialProfit.com

Having a home business could be the lifestyle you’ve always dreamed of. No more getting up early to rush around trying to look your best. No more sitting in traffic hoping you will get to work on time. No more putting up with that unpleasant boss or working on days you really wanted off. No more letting someone else raise your kids and cheer at their soccer games. No more wondering where the next house payment is coming from. No more of “That would be nice, but we just can’t afford it.”

The problem with this dream is that most people who attempt to start a home business, don’t ever end up making a significant income. In fact, a lot of them end up losing money. The statistics are grim. 95% of the people who start a home business fail.

So how can you know whether you will be one of those fortunate 5%? It doesn’t make sense to start something you are destined to fail at. What do the success stories have in common?

Are you the right kind of person?

Successful business owners know what they want. They have a big visible ‘reason why’ that makes them feel like they have to make it work. Why do you want to move your job to your home? Do you want a bigger income? How much? What will you do with it? Do you want more time with your family? What will you do with them when that happens? The fortunate 5% have a reason they are working a home business that they can envision. Do you?

Successful business owners are committed to making their business succeed. They are going to reach their goals or know the reason why. Are you committed to working longer hours on less income for the first few months while you are getting things going? If your schedule is full right now, what are you going to give up in order to make your business work? Do you have the self discipline and patience to keep at it even if you encounter some temporary disappointments along the way? Do you have, or do you think you could develop the organization, planning, and marketing skills that will be necessary?

Successful business owners are willing to take the time to research an opportunity, weigh the costs and likelihood of a profit, and then take risks to make their dreams come true. How are you at making decisions on you own and taking risks? Do you feel uncomfortable about trying new things when you can’t accurately predict the outcome?

Do you really enjoy the general buzz of people around you at work? Remember, when you move your work to home, those people won’t be there anymore. Some people thrive if they are left alone to work on their own. Others go crazy just thinking about the isolation. Which are you?

Do you have the resources necessary to start a business?

Any new business takes a certain amount of cash to get set up. A MacDonald’s franchise would cost you several hundred thousand dollars. Most small home businesses require only a few hundred dollars to get off the ground. But a few hundred dollars is a few hundred dollars. It’s very difficult indeed to start a business with no budget at all. Indeed, I’ve heard some reliable authorities say that it may be impossible. Do you have a plan to come up with a budget to get started? If not, you may need to think about saving until you do, or at least starting small and working up to a full-fledged business.

You also will need to make sure you can spare the time. There is a lot to learn before you will be making a significant profit from home. Would you be able to set aside 10 to 15 hours a week to do the research, training, and marketing necessary to get started?

Don’t forget the simple logistical needs you will have. I got a letter recently from someone who wanted to start an internet marketing venture, but he didn’t have a computer, or access to the internet. He wanted me to find a way to make it work for him anyway! Do you have access to the internet, an adequate computer system and a place in your home you could realistically work from? Is there anything else you will need to purchase or install in order to get started?

What about environment?

Whereas the final outcome of a successful home business is truly glorious, there will most certainly be a series of bumps and bruises along the way. Do you have the support of your family or close friends, or will they say, “See, I told you it wouldn’t work.” every time you have a setback or a dry spell? You need at least one person in your life who will encourage you when the going gets tough.

Do you pass the test?

How about it? Could you be one of the 5%? If one or two of the above qualities are problem areas for you, you might just make it anyway. But if you have a problem in four or five areas, or even all of them, you may do better staying with your day job.

In any case, since there is no way to know how long it will take you to make a profit, it would probably be wise to stay at your current job, (or get one if you don’t have one) until you are making more money in your business that at your job. Doing well at your job while at the same time learning a whole new world of skills on the internet just could turn out to be the busiest and hardest months of your life, but the rewards will be well worth whatever sacrifice and effort you have put into it.

Imagine getting up whenever you want, working a few hours in your sweats, and then having the rest of the day to actually live life instead of just working to sustain it! Imaging never having to worry again where the money you need will be coming from! Imagine being able to give yourself a vacation whenever and wherever you chose!

I hope this gives you a little more ammunition to make an informed decision, and whatever you choose to do, may you enjoy a rich and full life full of small delights and big successes!

About the Author:

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Debbie Penner is a member of Strong Future International, and the owner of Exponential Profit dot Com which is committed to helping people find the right home employment or home business, and providing the training, information, tools, and personal help to bring them to a place of significant monthly profit.


To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.ExponentialProfit.com

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