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How to Determine if a Home Business is Right for You

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During the economic downturn, a lot of people have turned to home-based businesses as a way to make ends meet amid the layoffs and freeze hirings. And while the economy is now looking up, many of these entrepreneurs have stuck with their proud ventures.. With a business of your own, you no longer have to spend every waking day commuting to work and dealing with the boss. However, a home business is not for everybody. There are people who are so eager at first, but lose the enthusiasm and drive after a while. So how do you know if a home business is for you?

1. You have to be patient, highly-motivated and hardworking.

The success of a home business doesn’t come right away, so if you are someone who wants to see results right there and then, you may not want to take this route. You have to wait and keep motivated to reap the benefits. First and foremost, you will be starting from scratch. Your business brand is still unknown to many, so you need to work on how you will represent it first; this takes time.

2. You have to be able to separate business and family life.

Even if you are working from and at home, you should put a line between your business and your personal  life. You should be able to put your family out of the business, and vice versa. For instance, you have to allot time to play with your daughter and to spend quality time with your spouse without having to look over the business. Mixing them all up may just be too complicated. If this is something that you can’t do, perhaps you need to eliminate this as your option. A lot of the successful business owners say that not because you are home and available all the time doesn’t mean you have to attend to your business; it’s important to have business hours too.

3. Examine your talents and skills.

A lot of people open up their own businesses at home based on what they love doing; this is a very good start. However, you should be able to challenge yourself. You have to test your skills and abilities to the fullest. For instance, you start accepting orders such as cupcakes and pies. However, your clients started asking you to bake cakes for birthday parties and you haven’t had tried to do such thing yet.  What do you do now? Do you just decline your customers just because you haven’t tried it yet? You have to know that this may mean losing them for good. Dare yourself to be able to offer more services.

4. You need to be organized.

Keep a checklist every day. List the things that you need to accomplish by the end of the day. Even if you’re your own boss, it doesn’t mean that you don’t have to assign tasks to yourself and deal with deadlines to beat. If you’re opting to operate a home business just to make your life easier, you might as well forget about it. Here are 20 ways to stay organized.

Some people think that once they’ve come up with a home business idea that they like and feel would click, they would take the plunge right away. The truth is, it isn’t that easy. Running a home-based business will eat a lot of your time, money and energy; there are no shortcuts. So go over the list, and see if you are fit to open and run a home business that has the potential to bring you the money and satisfaction you dream of.

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Chief Evolutionary Officer at Entrepreneurs for a Change
Lorna Li is a business coach, entrepreneur and Amazon rainforest crusader, with a passion for green business, social enterprise, and indigenous wisdom. She helps changemaking entrepreneurs harness the power of the Internet to reach more people and make a bigger impact, while designing the lifestyle of their dreams. She is an Internet marketing consultant to changemakers, and works with innovative tech startups, sustainable brands, social enterprises & B-Corporations on SEO, SEM & Social Media marketing.
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