Don't Give Up Your Day Job!

Have you ever wondered if what you know about small business is accurate? Consider the following paragraphs and compare what you know to the latest info on small business.

Knowledge can give you a real advantage. To make sure you're fully informed about small business, keep reading.
What is it that makes starting our "Own Home Business" sound so enticing? It is true that the 'right' job is becoming hard to find as corporations merge, downsize and relocate all in the name of profitability. There is no doubt that we all need to think more creatively about our future livelihoods, but is home business ownership right for you? According to the ABS, nearly one million Australians work from home. This includes off-site or telecommuting employees, but still amounts to more than 10% of the entire workforce. Of these 76% are individuals aged 35 years or older.

I encourage self-employment as I know the flexibility, independence and other benefits that it can bring. Being your own boss, working around your kids and determining your own hours, income and holidays is an attractive idea. However, I have learned that not everyone should run his or her own business. Why is it that many people running businesses are not successful, happy or fulfilled while others absolutely love it? I believe it all comes down to planning and having realistic expectations.

For a lot of people starting their own home business is the best decision that they will ever make. They have done their homework, thoroughly researched their concept/product and have organized financial back-up (yes, it does take at least some money to make money). From the time they start their business they are positioned for success. Yet for others, the decision to become self-employed is a complete disaster.

Statistics show that 9 out of every 10 new businesses cease within 10 years. You can increase your chances of success by using an established business model through a franchise or Multi Level Marketing plan. For many however 'business ownership' simply means more work for less pay! The businesses that grow and prosper are professional. They plan and set goals effectively and regularly review these, invest in marketing and growth and work hard! It takes persistent and consistent activity to achieve your goals and to be successful in any business - it's that simple!

Multi Level Marketing has proved the perfect vehicle to allow me to be successful in my own home business. I actively promote goal setting (both short and long term) within my team. We then work together to formulate 90 Day Plans and a Daily Method of Operation (DMO) to ensure that they are undertaking the required level of activity to get the results they desire. Regardless of whether you are in MLM or a more traditional business, the secret to success is planning - boring, tedious, time-consuming planning.

As they say "Failing to plan is planning to fail." Having said that, planning in the absence of activity will not result in success. The benefits of working from home are huge but it is not a decision for the fainthearted, weak willed, or very disorganized. Before you embark on any business venture you need to do your research, organize your finances, plan your goals and activities, have realistic expectations and stand in front of the mirror and take a good, hard look at yourself. Take stock of your strengths and weaknesses and understand your personality type. Are you disciplined enough to get up every day and commit to doing whatever it takes to reach your goals?
Are you willing to work harder on yourself than you ever will on your business?
Are you willing to reinvest short term profits back into your business in order to gain long term rewards?
If you can honestly answer YES to these questions, congratulations, you have the makings of a successful home business owner (and I'd love to talk to you!). If you are not quite sure, I suggest you look for an opportunity that you can start part-time and see if you "have what it takes" while still retaining the income of your current job. If you answered NO to the above questions (or think I'm being too tough) - there are benefits to being an employee, I suggest you "Don't Give Up Your Day Job!"
The day will come when you can use something you read about here to have a beneficial impact. Then you'll be glad you took the time to learn more about small business.

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