Home Business Entrepreneurs: 3 Hidden Challenges That Could Block Your Success

Imagine being an entrepreneur who jumped out of bed this morning ready and eager to work on your home-based business. You cheerfully sit down at your desk with your action plan for the day in one hand, and a mug of tea of coffee in the other, totally focused to take another giant step towards achieving you goals.

Alternatively, did you find yourself taking time to get started, being distracted by the news, your emails, your Facebook conversations, and any other time-sucking, non-productive activities? Let’s be honest, isn’t it so easy to get caught up in the web of these often idle, and valueless actions. We’ve all done it at some time or other, and probably found some justifiable (at least to ourselves) excuses for our behavior.

Being an entrepreneur working from home has its challenges, some you might know, and others you might not. Let’s address three hidden challenges that could block or stand in the way of your success.

Hidden Reason 1: Resigning Yourself to the Bane of the Lone Wolf

Entrepreneurs who operate solo from home soon realize that running your own business entails some hard work. Much of this work appears in the guise of ‘grunt labor’, namely mailing packages, answering phones, maintaining websites — all the stuff that somebody else does when you work for a larger company.

This time consuming, intimidating work can be frustrating. After all, you set out in your home business because you have a desire, expertise, or passion for a particular line of work — not because you enjoy calling FedEx, or UPS to make a special end-of-day pickup. Managing a small home business can seem especially overwhelming when these chores and more, interrupt the flow and the real purpose of hanging out your shingle. It’s tough to believe how much time it actually takes to set up and organize an office.

Unfortunately, it comes with the territory, at least at first. Everything belongs to you – those professional and not so professional type duties. There’s office management, the necessary bookkeeping, establishing a web presence, marketing and promoting your services and a whole lot more. Look forward to growing your business large enough to afford to hire someone to take care of the everyday stuff. In the meantime, consider finding some resources to outsource those time-consuming and less cost-effective tasks that need attention.

Learning how to manage and market your business requires a skill set that probably wasn’t part of your professional training curriculum. The main thing is to recognize that there are countless resources out there to help you.

Hidden Reason 2: Searching for the 25th Hour

As you’re probably aware, owning your own business consumes many, many, many more hours than you were ever accustomed to working in your cushy, cozy 9 to 5 position, especially in the beginning. You’re your own worst taskmaster and brutal slave driver, subjecting yourself to more working hours than you ever would for someone else.

Home-based business entrepreneurs are notorious for creeping into the office long before the sun even thinks about rising and staying there until the moon hangs high in the night sky.

Why? This passion to nurture and grow your business is intoxicating, and very addictive. You want to give it your all.

But beware!

If you want to avoid burnout, melt-downs, partner screaming and dog-kicking, re-charging your batteries is a “must do” practice you need to initiate daily. Developing a regular ‘time away from the office’ routine.

I like to start my day with a short yoga practice and meditation, and then every couple of hours I get up from sitting in front of my computer, do some stretching exercises, and when possible, go for a brisk walk around the block.

If you ignore this sage advice, you’ll burn out long before you accomplish what you want to do.

Hidden Reason 3: Realizing Success Comes with a Price Tag

Entrepreneurs succeed because they position themselves as the expert in a particular market segment. This success comes with a price tag. The expert in any given niche actually needs to know quite a bit about their field. The buck stops with you. When you say something about your industry, you had better be 110% sure of your facts. Give out false information, and your expertise status soon dwindles. Don’t give your target market reason to question and doubt your expertise.

Finally, working for yourself in your home business can be very lonely. Giving up the camaraderie and support that you had in an office setting or the fun chats you had around the water cooler, may not seem like a big deal, but there are going to be some very long Wednesday afternoons when even the annoying copier guy is welcome interruption. Remember that everyone has a need for peers and companionship. Make sure you look for people you respect who you can bounce ideas off of on a regular basis.

Being an entrepreneur can be extremely rewarding, and has plenty of definite advantages, from determining your own schedule to your controlling own destiny. Embrace and enjoy it!

What is a Home Business Entrepreneur? Discover the Right Way to Become One

In order for you to become a home business entrepreneur you have to first make the decision understanding that you have to dedicate some time to becoming better. The way that you start improving yourself and becoming better is by first developing your mind. This is very important because as you continue your journey to success you will encounter some tough obstacles that will try to make you you give up. But by having a strong mentality you will be able to overcome those obstacles.

In most situations a home business entrepreneur is able to understand and see from an angle that most people are not able to see from. They are able to think outside the box because they have worked over the years in developing an open mind. The best way for you to obtain an open mind is to dedicate time into personal development and start reading motivational books and listening to motivational audio tapes.

The process is going to take you some time but is going to be worth it because of the person you’re going to become. By becoming a home business entrepreneur you’re going to be able to take risks without thinking of the negative and focusing on the positive. There so many people that don’t think of the positive and are too scared to take the risk because they think that everything is not going to work.

By working on your mindset you are going to develop a very optimistic outlook on life and this is was going to help you in becoming successful in your business.

Do You Have What it Takes to Become a Successful Home Based Business Entrepreneur?

Becoming an entrepreneur is a very exciting idea. Being able to do it from home is even better. It provides you the freedom to;

  • Choose something you love doing.
  • Be your own boss.
  • Decide the hours you work.
  • Write your own paycheck.
  • Travel where and when you want.
  • Work around family commitments.
  • Gain a sense of purpose.

What could be better?

But before you jump in head first, here are some things to consider when deciding if a home based business is right for you.

The Key Attributes of a Successful Home Based Business Entrepreneur

Attitude and character determines success. Here are some of the key characteristics of most successful entrepreneurs, which you will need in order to succeed.

  • Lots of energy and a superior work ethic
  • Self Motivated, knowing what you are trying to achieve and WHY is crucial.
  • Prepared to take risks
  • Dedication and determination
  • Be able to relate to all types of people in many different situations
  • Effective decision making skills, you need to be able to make informed, wise decisions even under pressure
  • Focused
  • Coachable, an ongoing commitment to learn and grow is essential
  • And most of all Patience, without patience you won’t give the rest time to work

Some of the Skills Required to Succeed

While these are skills we often use in a daily lives they will often need to be further developed when it comes to running a home business.

  • Organisation
  • Time Management
  • Monitoring (tasks, finances, inventory, work schedules and advertising campaigns)
  • Know when to delegate (even without employees, outsourcing can allow you to focus on what you are best at)

Don’t despair!

Many of these are skills that can be learnt and developed over time. If you are committed to continual personal and professional development you will be amazed what you can achieve!

Business Plan Development Services Guarantee Success

For small business owners experiencing the obstacles encountered by newly developed and struggling small businesses, it is important to recognize the advantageous nature of business plan development. For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm’s customers, strengths and competition. They must also have the foresight to plan for future expansion.

Whether yours is a new business or an existing business in the process of expanding, money is often an issue. Taking time to create an extensive business plan provides you with insight into your business This document can serve as a powerful financing proposal.Developing a well thought business plan is an essential management tool. It identifies potential challenges and provides success strategies. It is critical for planning or operating a for-profit or nonprofit business as well as seeking investors, loans, real estate, or partnerships. Business plans can fulfill a variety of roles:

– The process of putting a business plan together forces the person preparing the plan to look at the business in an objective and critical manner.
– It helps the entrepreneur with starting a business to consider all options.
– It helps to focus ideas and serves as a feasibility study of the business’s chances for success and growth.
– It may show the business is not viable and help realize the idea is flawed.
– It is a strategic planning tool that can be shared with the investors, bankers or other funders, partners, and business development professionals.
– It is a strong communication tool for your business It defines your purpose, your competition, your management and personnel. The process of constructing a business plan can be a strong reality check.

However, the process of writing a business plan can sometimes be a painstaking experience. A business plan is very specific to each particular business However, while each business needs a unique plan, the basic elements are the same in all business plans. To complete an effective business plan you must dedicate time to complete the plan. Essential components include:- Executive Summary

– Company Summary
– Products or Services
– Market Analysis
– Strategy and Implementation Summary
– Management Summary
– Financial Plan including Pro Forma Profit and Loss, Cash Flow, and Balance SheetsRealizing that many small business owners are frustrated and overwhelmed by the process, business consultants have created business plan services that are aimed at making the creation of business plans as simple and effortless as possible.

Business development experts consult with entrepreneurs throughout the planning process, offering a variety of tools and resources to ensure the plan will be successful in achieving its goal.A quality finished product incorporates all necessary elements, including financial forecasts, marketing strategies, color charts and graphs, and is created in the Small Business Administration’s preferred format. Whether you’re seeking a business plan to attract investors, get a loan, or simply determine whether your idea is viable, an adequate planning process will focus your thinking and provide an objective and critical view of your business Realizing the vital role small businesses play in our nation’s economy, business consultants offering small business planning and development services are bridging the gap between a person’s dream of being a business owner, and the reality of opening their doors.