Home » Business » Home-Based Business

5 Common Mistakes to Avoid when Starting a Home Business

Aug 17, 2007
For many people today, a nice little home business sounds desirable. By working from home, moms can stay home with their children, dads can get to know the kids better, and everyone can decide what days and what hours they want to work. No more punching the time clock every morning at seven! You can work whatever hours you feel fresh and interested.

Well, yes and no. The truth is that starting a home business usually requires more hours of work than you expect and entails hidden annoyances that can make punching the time clock look pretty good. What are some of the common mistakes people make when they start a home business?

1. Getting too far into debt too soon. This is a common mistake that is hard to undo. Some home business opportunities make outrageous claims. For instance, they might advertise that you will be making a six figure income within the first year if you follow their instructions. Of course, you have to pay over a thousand dollars just to get with the company. Then the instructions include buying hundreds of dollars worth of leads and paying a large monthly fee for a website.

Some people take a leap into a situation like this by taking out a large loan and then finding out they can't make any money with it at all. The moral is, don't invest much more than you already have. If you're really penniless, you might need a small loan to start very small. Even better, though, is no loan at all! Many business opportunities cost less than a hundred dollars to get started.

2. Not realizing how much work it will require. Many prospective home workers are amazed by the number of hours of work it takes to get a business off the ground. Again, the advertisements can be misleading. Like any other skill, when you are learning a new business, everything takes longer. Deciding who to call, researching advertising options, and virtually everything requires more time and effort in the beginning. This means that the job that promised to require only ten hours a week might take twenty or thirty hours a week in the first few months.

3. Expecting to make a lot of money quickly. Like any other type of business, a home business often takes months or even years to be operating in the black. Most successful business owners will tell you that they didn't make much money in the first few months. This is another reason that it is important to save going into debt for things that are truly essential.

4. Picking a business that is not a good fit for them. If you are really a loner rather than a social butterfly, you could be kidding yourself when you start thinking you would enjoy doing home parties for a party plan company. In your dreams you can see yourself as a confident product demonstrator, but when the reality comes, all your shyness will come back with a vengeance.

5. Not making allowances for the interruptions of home life. We've all seen the ads with the pretty young mother making money on her computer while her toddler plays quietly at a toy desk nearby. Yeah, right! A more common scenario is that mom is trying to get a few minutes of work done during baby's nap, when Mom could really use a nap, too. Don't forget that Mom already has a job, and it's called being Mom!

Home businesses can be a wonderful way of life. The secret is to find the business that is right for you and to not expect to be able to make it work just by throwing more money at it. Success will take patience, work, and flexibility.
About the Author
For more information on work at home opportunities visit: http://www.greatestpaidsurveys.com/
Please Rate:
(Average: Not rated)
Views: 139
Print Email Share
Article Categories