Guest Post By Sean M. Adams
As people look for alternatives to the traditional approach of working 9-5 for someone else, many are turning to starting their own businesses, and to keep costs down many are investigating the possibility of starting their own home business. If you take into account these myths and misunderstandings you can be successful in building a long term sustainable home business.
Myth #1: Those get rich quick schemes work
There is no such thing as a get rich quick scheme that actually works, no matter the business model they are trying to use. There are a lot of people out there preying on the people who are struggling, trying to sell them some scheme that will make them thousands a month if they just give a few thousand up front. If there are not actual products involved in the program, and you are just getting money for getting other people to give money then what they are selling is a ponzie or pyramid scheme and is illegal.
Misunderstanding #1: Money is instantaneous
This follows on the first myth and sadly is just not true. Money does not start rolling into your business right away, it is a business and will take time to grow. Like all businesses, it takes time and energy to create a sustainable long-term business. Do not fall for things that are get rich quick. If it looks too good to be true it is.
Myth #2: All your friends and past colleagues will want to support you by buying your products and services
Yes your friends like you and yes your friends want you to succeed, but they may be struggling as well and therefore do not have free money to hire you or buy your products just to support you. People you know are your called your warm market and they may like you but that does not mean they will buy from you. You cannot rely on them as the source of your income.
Misunderstanding #2: Your friends will find you your clients
I am a fan of networking and the power of connections to help you build your business, but you cannot rely on other people to do the networking for you. You have to get out there and do the talking, hand shaking, getting to know you action yourself. You may get lucky and find that one client or connection that leads to many others, but do not expect that to happen immediately with the first connection you make. Building a customer/client base takes time and requires effort.
Myth #3: Working from home means no expenses
Yes your expenses will be greatly reduced by working from home but all of your expenses will not be removed instantly. You still have to pay for food, pay for rent or your mortgage, and you will even still have to pay for gas at times. All of those supplies you took for granted from your office like copy paper, pens, staplers, etc that you could just go to the supply closet to get in your old job are now expenses you have to cover. Plan carefully because these can build up quickly at home.
Misunderstanding #3: Working from home means more time with family
Just because you are physically in your house does not mean you are going to get more time with your family. A job is still a job and you will be required to sit and work and get the stuff done you need to get done. There is even a danger of spending less time with family because those times you used to hold sacred like dinner, tucking in the kids etc can get lost to the job since the office is right down the hall. You have to be very careful about holding family time sacred, because the temptation to go to the office do to that “one last thing” can be dangerous. There is always that “one last thing”, you will have to know when to walk away.
If you keep these myths and misunderstandings in mind you will be able to build your home business to be successful. Just be honest with yourself and remember you are building a business and you will do well.
Sean is an internet entrepreneur who specializes in helping people to identify their passion and find a way to turn that passion into a monetized website that makes sustainable passive income. To learn more about how to learn the basics check out http://www.MillionaireMindForFree.com/.
Article Source: Having a Home Business – Common Myths and Misunderstandings
