Venturing out into your own business is like diving into the deep end. If you have not done your research it would be diving into the deep end without knowing how to swim and without any flotation devices nearby. So before you decide to start your own business, know some of the challenges that will be coming your way.
Firstly, you will be working around the clock. You don’t follow your normal work schedule anymore. Instead of the usual 9-5 job, be prepared to put in far more hours into your business at home than when you are working for someone else. In your 9-5 job, once it is 5 you will get to relax and all thoughts of work gets to be postponed to the very next day when you go back for work. However when you are working on your own business, you will be living, eating and breathing your own home business 24 hours a day, 7 days a week.
Secondly, people might not take your work seriously. For instance, when people ask you hat do you do for a living and you answer that you have a home business, chances are is that their automatic reply will be “ oh so you have loads of free time!” They may not think that your home business is a real job. So be prepared for the snide comments that might be coming your way.
Thirdly, you have to be prepared to sacrifice personally. Most people go into their home business expecting that they will have loads of free time to handle their business and still able to enjoy more time with their family. This is the exact opposite of the situation. When you have a home business, it will be difficult for you to balance between your family and your work. So either your business or your family suffers. Most children get less quality time with their parents who own a home business.
Fourthly, you will be doing everything! When you are working in your 9-5 day job, you are paid to do something that you are specialized in. However when you are starting your own business, not only you are your own boss, but you are also your own worker! Until your business stabilizes and you start raking in profits which may take months to years, be prepared to do everything on your own. This may include from book keeping to your taxes on top of your own normal household responsibilities.
Fifthly, when working from home, there will be plenty of distractions and interruptions from your family. There will be your children running around the house demanding your attention. Your relatives or friends may keep calling in thinking that you have the time to spare to chat with them on the telephone. All these distraction and interruption might slow down your work progress and you won’t be able to focus on the task at hand.
In conclusion, don’t think that setting up a home business is easy money. You will need to work hard for every dollar that you make. However, don’t be disheartened, although it may sound difficult but if you persevere with your dream you could turn your home business into a financial success!
What do you think about this challenges?