Things to Consider

How much time can I commit to my business?

This is very important! Having been self-employed much of my adult life I can tell you that this is one place that people don’t really account or plan for when they begin working for themselves. Distractions are all equal and all time consuming. You should get a day planner and a calendar and stick with it. When someone begins working from home for the first time, many things come up: laundry, yard, cooking, cleaning, pets, etc… All of these can and will drag you away from the task at hand unless you begin scheduling your day. When you put something on the calendar now, it usually gets done or you plan to attend. Treat your business from home the exact same way.

What are my start up cost?

In addition to your actual start-up cost you need to ask yourself, “How much do I need in the bank to sustain me and my lifestyle until I see an income from my business?” One of the biggest downfalls I’ve run into with a new person to this industry is unrealistic expectations. It’s great to be enthusiastic but at what cost. If the bills begin to pile up your enthusiasm will be short lived. Don’t let this happen to you. Make a business plan and stick to it. Today, with the right company, you can start a business for very little money because of the advances in recent technology. Focus on your passions as you think of your business ideas or niche. If you love what you do, you’ll never work another day in your life!

How will I market my business?

Are you going to only market online or are you planning to advertise locally as well. Today, with social marketing and the internet, you can reach large numbers of people for very little cost. Did you know that there are 2.8 billion people on the internet today searing for things to better their lives? Compare this to the numbers of people who enter a successful store in a major city on a given day and your traffic could be 100 times larger online. WOW!!

How can I get support?

When you work for yourself, you become the boss, the accountant, the delivery person, the warehouse person (if a physical product is involved), the technology department,etc…in other words “the buck stops here”. Often times someone is good at something they have a passion for but are lousy at business. For example: a great chef may not be such a great restaurant owner. Who do you call when you need help?

Do I have a proven plan?

Having a road map or a GPS to run on is vital to success. Not everyone has the vision and foresight to make a business plan and see their next step as they work to make their dreams a reality. I know I didn’t in the beginning and wound up broke. Having a network of help and support from people who have gone before is invaluable. Your time is and always will be your great asset. You’ll want to spend your days wisely for they are very costly.

Do I have the skills required to succeed?

Having adequate training and guidance as you venture forth is paramount. You want to be creative but you also don’t want to reinvent the wheel. In other words, if there is a proven system of training available that will take you where you need to go, why go it alone?

Will I have competition?

If you have an idea that satisfies a need in the marketplace you will most likely be faced with competition. I look at competition as an asset not a liability. By knowing what is in demand, based on the competition, your job is to find your own niche within that field and learn to market to that group of people. Wealthy Affiliate has a way to research those niches and they will show you exactly how to market to that group of people.

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