Humble beginnings in Rock Hall Maryland did nothing to
drown out the inner voice that told me I was destined to
live the lifestyle of my dreams. I also learned quickly
that 18 years of "Split-Contract" income would mean that
after baseball I was "on my own"! After several business
attempts, some home-based and one not, I realized that
there was a formula, a system, if you will, certain truths
about a home-based business that only became apparent to me
through experience.
The content of my article "From the Major Leagues to a
Home-Based Business: Could it Work for Me?", introduced the
ideas that "knowing your goals", "surrounding yourself with
like-minded people", and "commitment was not conducive
without hard work", were the foundation for success in
self-employment.
That takes us to the traits necessary to manage a business.
You must have skills that suit the business you have
planned. A close examination of your skills in relation to
potential endeavors can also help you find a niche in the
marketplace. This is where additional training and support
comes in to play. The misconception that once you reach
Major League status, you're "home-free" is a myth. That is
when "work ethic", daily training and team support are
crucial. Always look for home-based business opportunities
that offer the training and support needed to better your
chances of success.
Review your background to establish the fit between you and
your future. Consider these points and ask yourself if your
potential business will limit you because of:
* Age
* Confidence in physical appearance
* Lack of formal or informal education
* Relevant life experiences
* Present and past occupations and duties
* Reasons you left previous jobs
* Environment: Indoor or Outdoor
When a business idea fits by having little or no
restrictions, write it down. As you eliminate possibilities
and focus on others, you are zeroing in on a potential
money-making idea that will be personally satisfying thus
less stressful.
Time = Money
*Are you willing to work the hours needed and make personal
sacrifices to help the business grow?
*Are you comfortable engaging in speculation, both personal
and financial?
*Are you comfortable with success?
*Can you accept failure?
You should answer these personal questions honestly. A
positive, go-ahead feeling should accompany your answers.
Remember to ask yourself whether those who are investing in
this venture with you -- your family members -- are as
positive in their responses as you are. Remember that a
home-based business affects the whole family. Listen to
your spouse's and age relevant children's opinions. Are
they willing to help when needed? Are they willing to
recognize the additional demands on your time and to accept
responsibility for certain household tasks? Do they realize
that even though you will be home, you are working? Is your
household ready to accommodate a work space and all that
comes with it?
Any business will also require some financial investment.
Look for a business opportunity where your
investment/return ratio is highest. When do you expect to
become profitable - how long before you are making deposits
in your bank account? Of course, without risk there is no
return. Risk assessment is part of any business venture.
Projecting future cash flows and money needs is difficult,
but you must incorporate such projections into your
business overview.
Bottom line
Many successful home-based businesses are thriving
enterprises, (here comes the BUT) but, those that have
failed far outnumber those that succeed. It is, however,
fair to say that many who closed their operations could
still be in business if they had asked more questions and
listened to realistic answers before entering the venture.
I can't stress enough the importance of choosing a business
that provides you with the knowledge, training and support
you need so that you can succeed. You can't foresee
everything, and certainly problems will arise. When
problems do arise, seek answers before the problems
severely affect business performance or your own
discouragement. If you are willing to work hard and seek
answers, if there is a market for your product/service and
if you have a sense of humor, you will succeed! "Play each
game as if it were your last!" is the slogan that hangs
above the entrance to the dug-out at Yankee Stadium. A
duplicate hangs above my home-based office door.
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http://www.achievemillionsnow.com
The Home Business Center Inc.
HomeBizTools
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