Tuesday, August 11, 2009

Lessons Learned as a New Entrepeneur

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As Americans, we are experiencing a significant economic slowdown. With unemployment at close to 10%, currently over 10 million Americans have started their own home-based business and many more are considering it.
There are many distinct advantages associated with a home based business such as freedom, flexibility, working from home, direct control of your income and being your own boss. Being a home based business owner also means, you are closer to your family on a daily basis and other responsibilities. The most successful home based business owners are organized, disciplined and action oriented.

Here are some tips I have learned about being successful as your own boss:

1. Determine your priorities: Write down your tasks in the order of importance, and focus on the urgent ones first thing in the morning. By following your list of priorities, and assigning a time frame to complete, you can ensure that you do no miss out on any income generating task that is important.

2. Plan your day the night before: Plan your day the evening before so that you are ready to act as soon as breakfast is done. Set goals to be accomplished, calls to make to prospects, marketing to complete. During the day, keep updating your plan as you achieve each goal.

3. Help your family understand: Family pressure can be one of the major reasons that many home-based businesses fail to succeed. You need to help your family understand that you are at work, even though at home. Make sure you set aside quality time for the family. Remember, this is your business and not a hobby.

4. Go the Extra Mile: You will have to work harder and longer in the beginning with your business. This effort will help your business build a strong foundation to help it grow and stabilize.

5. Reduce distractions: Try to avoid television and radio. Create a peaceful and quiet atmosphere in your home so that you can focus on work.

6. Set aside time for YOU: You can improve your productivity by spending a few minutes to refresh yourself. Get some exercise, go outside and enjoy the sun, or take a walk. It will do wonders for your focus.

7. Focus on Personal Excellence: Raise your standards by having high expectations of yourself. Hustle and do not let yourself become idle for too long. The best entrepreneurs are always hustling and putting in the effort to take massive action.

These tips will ensure you get off on the right foot in your home based business. In my opinion, being a successful Entrepreneur is 90% discipline, organization and action.

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