Building a home based business can be a rewarding and fulfilling experience. A successful home based business takes careful planning, hard work, abundance in self-discipline and motivation and a bit of creativity with that entrepreneurial flair. So how does one go about managing a home based business?
The first key point is that you need good preparation. This may take the form of a formal business plan or a simple A4 piece of paper jotting down your plan; the important thing is that you need some sort of vision/map of where you want to be in your home based business and thereafter how you go about doing it.
You should then set up a daily/weekly routine which will have the tasks that need to be done. For example, an Internet marketer might be writing 2 articles a day, posting 3 classified ads, posting in forums, uploading a video etc. Be as clear as possible and take ACTION so that you complete the necessary tasks. You will see progress (more traffic, sales) and this will give you confidence and keep you motivated.
Another important aspect of managing a home based business is organisation. People sometimes state that if you do not get your internet business organised at the start it is very hard to do so later! Buy some binders and keep all information regarding your home based business in these binders, e.g. usernames, passwords, targets etc. I am from the traditional mould of wanting things hand written on paper.
So What Is My Top Tip?
The above are some real important points but if I was to give a ‘Top Tip’ it would be to ‘treat your home based business as you would treat a college project’. This may sound a little far fetched but have a think about it for a moment. Most people have completed either a school or work project that took a fair bit of time and effort. Now think about this: I can almost guarantee that if someone applied the same planning, research, effort and hard work they would with a college project (that has a deadline) to their home based business, they will no doubt succeed!
Now when I was given a ‘major’ school/college/university project I basically went through the same process:
1. Project Title and Plan – a statement of intent.
2. Project Objectives – exactly what do I hope to achieve?
3. Brainstorm of Ideas – think of possible ways that the above can be achieved. There are always ideas, if you concentrate and think outside the box.
4. Research and Planning – after the initial brainstorm you should have a shortlist of ‘feasible’ ideas/solutions; you will therefore use several different mediums to research these ideas.
5. Design of ‘Solution’ – this should be a mapping of HOW the chosen ‘solution’ will be realised. Could be a sort of plan of action
6. Implementation – key word here from a business point of view is ACTION. This is where you get your hands down and DO!
7. Testing and Tracking – after everything has been done you will want to test and track the results.
8. Evaluation – this would take into consideration the ‘solution’ (product) and test results. Recommendations will probably be mentioned here.
9. Conclusion – a summary of how the ‘project’ went and the success of the ‘solution’.
Thereafter the process will not stop in a business context and recommendations will be sought to be implemented and so forth; it is an endless cycle.
Now when I finished my project, I felt a degree of satisfaction and would thereafter be pleased with my ‘grade’. Now picture this, suppose that ‘grade’, was now a FAT bank balance. Would you not be motivated? That’s exactly my point, treat your home based business as you would a school project (with the framework described above) and you will end up with a nice ‘grade’.
Finally, start off with a Proven Online Business and you will find managing a home based business a whole lot easier.