Are You a Good Fit for a Home Based Business? - Canadian ...

You have to have key characteristics to succeed in a home based business.

No one dreams of working for a large corporation for their entire lives, only to retire with a tiny pension (if any) and little to no additional benefits. If you ask most people, they all have a secret dream to own their own business. Luckily, there are as many potential businesses as there are budding entrepreneurs. Of those potential businesses, there is an increasing number of home based businesses. Of course, before you choose a home based business, you need to be sure you are a good fit. Below are some key characteristics to consider.

Getting Things Done in a Home Based Business Requires Self-Motivation

There are many differences between working for yourself in a home based business and succeeding in a corporate role. For instance, in the corporate daily grind, you have colleagues to push you, whether a supervisor, team leader, crew leader or the CEO. With a home business, you must be your own motivating force.? There will be no one sitting in the office next door to tell you what needs to be done, no one to prioritize your day and no one to make sure you are productive. You will have to do this yourself. While self-motivation is can be acquired over time, you may not want to test this personality trait for the first time in your own business.

Managing Distractions is a Necessity When Working From Home

Everyone dreams of being able to work from home. The thought of waking up in the morning, turning on the coffee pot and starting work in your home office or your living room in your pajamas is pretty appealing. However, you?ll need to ensure you can minimize and avoid distractions. You?ll find there are many things competing for your attention, if you allow them ? from the kids returning home from school, to the television, Facebook, email, chores and even family members calling to ask you for a favor. It?s critical to manage these distractions, otherwise they will steal time away from running your business and making money.

Being Technology Savvy Will Definitely Help With Your Home Office

Technology has become a critical component of every business and a home based business is no exception. Of course the level of technology sophistication will vary depending on your business type, but you require a PC or Mac, combination printer and scanner, high-speed Internet connection, Wi-Fi network, word processing, spreadsheet and presentation software for running the business, along with email, software for tracking and managing clients, knowledge of Internet marketing and accounting software. Let?s just say chances are you will have to become technology savvy.

Running a Home Based Business Requires a Determination to Succeed

Running a home based business can be rewarding, but there is a defining point in nearly every business requiring the determination to succeed to get through the tough times. For example, distractions, lack of motivation, client problems, technology issues, tax challenges, cash flow issues and more, can combine to create a frustrating situation from time to time. Determination and dedication is required to get through these less than ideal times. Building a profitable home based business is certainly possible, but it doesn?t come without effort.? So if you?re more interested in ?easy money,? this isn?t the option for you.

Having Organizational Capabilities Will Help Increase Efficiency

If you examine other successful home based business owners, you?ll find they all have one thing in common ? the ability to stay organized. As a business owner, you?ll have to keep track of an immense amount of information, from client invoices to tax data to work orders and many other pieces of information. You will have to be organized from day one.

Operating a home based business can be very rewarding, with the right opportunity and the right skill set. First ensure you?re a good fit before you embark on your new career and you will increase your chances of success, while enjoying the rewards of business ownership.

About the Author, CFO Team

The Canadian Franchise Opportunities team is a dedicated group whose primary purpose is to help inform those exploring franchising as a potential business model. We believe that through education we can help prospective franchisees make better decisions when evaluating, selecting and buying a franchise.

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Source: http://www.cafranchiseopportunities.com/home-based-business/

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