The No. 1 reason, and in my opinion the only real reason, why people “fail” at their home business is because they don’t treat it like a real business.
It’s not easy. In fact, it’s hard to shift your thinking from an employee to a business owner, which is what most people have to do. We are all trained throughout school to have work brought to us. We’re trained to have a boss. So being your own boss is a completely different world.
Anything worthwhile isn’t supposed to be easy. If it’s easy to build, it’s going to be easy to lose. So, if you want to build a sustainable home business that brings value to people, you’re going to have to treat it like a business. Here are five things you can start doing right now to help you become a real business owner.
Work Your Business Every Day
If you are already working your business full-time, then you are probably already working it every day. But if you’re like most home business owners, you work your business part-time. And that means you have to disciplining yourself to do something with your business every day.
The cool thing about most home businesses is that you can work it at any time. The key thing is consistency. Even 30 minutes a day is better than three hours twice a week. Start with whatever time makes sense for you, but make sure you at least touch your business every day so that you create that habit.
Have a Vision or Goal Board
It always helps keep your vision and goals in sight. Make them as specific as possible. How much money do you want to make per month? What are your career goals? What vacations do you want to take?
Put up pictures of these goals. I like to use a dry erase board so I can write down my daily, weekly and monthly goals. I also put up pictures of the things my family wants to do, such as vacations and getting my wife a new truck.
Don’t dismiss this. Visualizing what you want makes so much difference because it keeps it in front of you. It keeps it real.
Read more for three more tip: How Much Would You Pay Yourself?, Expect Tough Times, Invest in Yourself:
How Much Would You Pay Yourself?
A good way to think like a business owner is to figure out how much you would pay yourself. Based on the work and/or results you produced in the past week or month, how much would you (the boss) pay you (the employee)?
Would you fire yourself? Would you give you give yourself a raise or a big bonus? If you are a network marketer, did you do the things that you want your team doing?
See, if you are the boss of your own home business, you have to be the one to generate the business. It’s up to you. No one is going to make you do it but you.
Expect Tough Times
Any business is going to have tough or slow times. Just expect it. When it happens, deal with it.
So many people fold like a lawns chair when they hit the first roadblock in their business. If you quit when you hit tough times, you’re not mentally ready to be a home business owner. But if you understand that tough times will come, you’ll be able to recognize it when it happens and be better able to handle it.
Real business owners use tough times to grow. They embrace them because they know they will use them to get better and learn more about their business and themselves.
Invest in Yourself
If your business is growing, that’s great, but are you growing as a business owner?
It’s almost a fundamental truth of the universe that your income will never outgrow your personal level. I’ve certainly experienced this. I had a website that quickly grew to generate tens of thousands of dollars in monthly sales, but it eventually came back down because I wasn’t yet equipped to handle that growth. Still, I learned a lot from it. And more importantly, I learned a lot about myself.
If you want to treat your home business like a real business, pour as much coaching, training and personal development into yourself as you can. To see what books I recommend for any entrepreneur, visit my Recommended Resources page.