Everyday ordinary people are breaking away from traditional jobs, to start their own home based businesses. For many it is more than just trying to make a lot of money. People more often than not want the freedom of being their own boss and being in control of their future. There are literally thousands of business opportunities out there for you to choose from.
Work from Home In Australia – Business Myths.
There are many people that make a lot of money in their own business and working from home. However, there are also many that don’t succeed because they had unrealistic expectations and believed the some commonly held myths about work from home business opportunities.
Here are some of those commonly held myths and the truth about them.
1. I am good at my job or hobby (web design, mechanic, painter), thus I can be successful in my own business.
Being good at a particular trade or skill is not enough to have a successful home business. You must be good at managing a business. Most small businesses fail due to poor management or mismanagement.
If you have no business management experience, take courses in marketing, management, recruiting, bookkeeping and others areas that will assist you. This will help prepare you for running your own home business.
2. Operating a home business is easy, anyone can do it.
Running any business is the same, whether it’s a home based business or a physical business. It requires the same amount of time energy and planning. You will need to formulate business and marketing plans, manage inventory if you carry physical items and deal with suppliers and customers or clients. Many people have the misconception that working from home or running a home based business, is getting up late and sitting around all day doing very little.
3. I’ll be financially free when I start my own business.
Getting rich overnight from your own home-based business is a myth. With any business there are start up costs and it will take time before you break even or make a profit. You will have to work hard to market your business, as you will be competing with hundreds of other home-based businesses.
If you are prepared to work hard and have realistic goals and expectations, especially in the beginning, it is possible to attain the financial freedom that comes with owning your own business.
4. I’ll be free and will be able to do whatever I want with my time.
This probably one of the biggest myths of the work from home or home-based business. While you will definitely have more time than a traditional job or a business with a physical location like a shop front, you will still need to put in a lot of time to making your business work.
Be prepared to work long hours until your business is up and running. The advantage of a home-based business is that you can work around your family and still put in the required hours, if you are disciplined. If you have young children for example, you an put in time when they are having nap time or after bed time at night.
Many people start home businesses while still working their full time job, to help them build the business in the beginning. This requires a great deal more sacrifice in regards to time but can be a smart way to get started.
The Best Home Based Businesses to Start.
Despite the myths stated above, there are thousands of people who are currently enjoying work from home business success. There are millions of business ideas that will bring in profits and help you enjoy working from home.
Finding the right business can seem like a challenge and can seem very overwhelming. Many people become anxious and paralyzed by uncertainty, when they start looking for a business. The good news is that it doesn’t have to be.
There are several factors that can help you choose the business that is right for you.
1. What skills do I have?
List your skills on a sheet of paper. Are you good at craft, a musical instrument, writing, athletics, using the Internet? Consider teaching or coaching others to do what you are good at.
These types of businesses are easy to start from home and require very little in the way of start up costs.
If you are good at making thing like jewelry, pottery or anything else, an ecommerce store may be the right business for you. Setting up an ecommerce online store requires a bit of technical skill. You can hire freelancers online to do this for you at a fraction of the cost of a local web designer/developer.
Once set up, an ecommerce site will work for you 24 hours, 7 days week.
2. Is it easy to run from home??
Not all businesses are suitable to be run from home as those that require heavy equipment or a lot of space, may not be suitable. A business that can be run online, or with a phone and computer, is ideal for a work from home setup. If you are running an e-commerce website with a lot of inventory, consider drop shipping or storing your items at a warehouse offsite. There are many self-storage facilities across the country where you can store inventory if you don’t have a shed or garage at you home.
3. Does it require a lot of start-up capital?
Starting any small business can be a risk. Choose a business that requires little money to start up. Resist sinking a lot of money into your business straight away, even if you have it. A business that can be run on a shoestring budget is best when you are just starting out since you won’t be hundred percent sure that it will work. You can always invest more money into the business as it grows.
There are many great work from home business success stories. Select the right business and yours could be next.