10 Key-Points Every Home-Based Business Owner Must {Implement for Success}

10 Key-Points Every Home-Based Business Owner Must {Implement for Success}

These 10 key points are mandatory for any home-based business owner, in developing a successful, trusted, professional and sustainable long-term online business.

Right Attitude

1. The Right Attitude

As a Home-based business owner, you must have the right attitude. I like to call this  “The Business Mindset” as opposed to the “Employee Mindset”. There must be a shift in thinking, especially if you have just changed from a job to working for yourself. You must see and treat your business like a business, even if it is based in your own house. Your attitude towards your business is a very important factor in running a business.

It does not matter whether you work your business full-time or part-time, how you see it is crucial. I worked full-time from home for 3.5 years with a Company in the vacation industry, I noticed that out of all the stay-at-home mums and dads, those of us who treated our work seriously and adopted a business mindset, were able to keep up longer than those that saw it as a part-time hustle and worked only when they felt like it.

So, it is important that even if you work part-time in your business, adopt a full-time mental attitude. In other words, if you have a limited attitude, you'll have a limited outcome and a limited income. However, if you have a serious business attitude, you'll have a serious business income.

Be Mindful of your attitude while running your business, as it is one of the first steps to ensuring your success. You can absolutely be successful working part-time on your business or working full-time, however, having said that, it is highly unlikely that working in your “spare time” will achieve you great success.

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2. Your Work Environment

Keeping with the attitude principle discussed above, it is necessary to remember that while you are working from home, you should make sure that you have a secluded space just for your own business practice. This space should be private and free from distractions.

Create a comfortable atmosphere:

1. With good natural lighting,
2. An up to date computer system or laptop with all the basic office software like MS office etc.
3. High-speed broadband internet connection – faster internet means efficiency and more time for you
4. A comfortable office chair,
5. A good-sized well laid-out and organised desk.
6. A reliable printer and printing paper

 A list of Stationery supplies that might be handy for your Home Office:

  • Pens
  • Post-it-notes
  • Highlighters
  • Hole Puncher
  • A Stapler
  • A ruler
  • Sticky Tape
  • Notebooks
  • A Filing Cabinet or Easy, Efficient System to store your physical files and documents.
  • Ring Binders
  • Some Folders

Home-based Business Owner

3. Time Scheduling System

Working out how much time will be devoted to your Business and what spare time you will share between your family and other activities requires careful consideration and planning. Whatever time you allocate to working should be used solely for work with undivided attention.

Consider “Why” you are doing what you are doing. If you are working from home in order to spend more time with your family then your work time is second priority to your family commitment, so you don’t want your work time consuming valuable family time, vice versa.

Map out exactly what time is devoted to your:

Work
Family
Physical Exercise
Self-development/education
Leisure
Food
Sleep
Miscellaneous

Be aware that in a home business, the only “boss” you have is yourself and your schedule. You will have to make choices which may sometimes be very difficult especially when it comes to choosing between your business and unexpected visits by family members, the in-laws or people who might not understand that you are busy even though you are at home. You would have to stick to your guns and work your hours as planned without interruptions.

Honour your commitments based on your “Why”. How committed are you to your business success? Your choices in these types of situations will dictate whether you have a “business attitude”, or a “hobby attitude”.

In family settings, you would need to discuss and agree with your spouse and/or children the period to be spent in the office as business hours, during which time you will be completely uninterrupted. You may have to keep a written time schedule in sight for everyone, it is even better if the other members of the family have their own activities scheduled at the same time so as not to be missed.

Home Based Business owner

4. What is Your Unique Selling Proposition? – How do you Describe Your Business?

Be sure that you can describe your business as concisely as possible when asked about it; a strong and powerful one or two sentences that you can repeat easily when describing your business to others. A company slogan or “tag line” can also be invaluable for promoting your business; take the time to create a unique and memorable tag line or slogan.

5. Knowledge of Your Products or Services

You now have your product or service that you sell, whether you use your product or service you sell, it is a wise decision to make sure that your knowledge of your product or service is intimate and well-founded.

Here is an example, if you are selling a self-development program, make sure you know the content and the value in which the program holds; if you are selling software, make sure that you know how it works, “inside and out”. In so doing, you will develop your reputation as someone who provides quality information about that product or service, and because of this knowledge, you become a preferred supplier.

You may not personally use the product, yet if you have extensive knowledge that can help customers to make an informed educated decision about the product then, by all means, you can present that product successfully. I know a man who promotes maternity lingerie and he is very knowledgeable in the subject and another man who promotes bridal wear and he excels in it because he has in-depth knowledge of the product features, benefits and what his clientele really wants.

6. Your Bookkeeping and Administration

It is very important to implement good record-keeping practices, which may include consulting a tax advisor who can advise you on the best and most optimal way to set up and store your financial records, as well as which records need to be kept. Your financial advisor could also recommend record-keeping systems that are simple and most efficient for your business.

You will need to set up your business bank account(s), your company registration and set up, your advisor will lead you through these steps or you if you are in the UK you may visit: Company Registration. There are so many agents online who offer Company Formation services, I strongly suggest you speak with a Financial Consultant for details and assistance.

7. Use Protection to Secure Your Computer

Install a good, paid Antivirus software that includes anti-spyware, adware, malware removal, a firewall and an email scanner. As your computer contains all the important data for your business and acts as the lifeline of your business practices, it is vital to make sure it is secure and well protected.

Make use of password storage systems preferable with 2-3 step verification to store and keep track of all your passwords, usernames and login information in one place with a paper back-up locked in a safe just in case the system goes down or you are using a different computer. There are lots of such software online – find one that resonates with you.

8. Find A Domain Name for your Business

For any home-based business owner,  it is now vital to have a domain name. There are many domain registrar companies out there, See my Post: Beginner’s Guide to Buying a Great Domain I have written a step-by-step guide for you on how to choose and buy a great domain.

9. Your Payments Processing Systems

Any online business needs to be able to accept payments, there are numerous payment processors online. Here is a list of a few that cater to small businesses such as: Dwolla (US), Braintree, 2Checkout, Square, Stripe, Wepay, Popmoney (US), Due, PayPal, Heartland Payment Systems, Cybersource, Digital River, Payoneer, EcoPayz, Elavon Converge, Neteller, Nochex (UK), PayXpert, Payment Depot, Worldpay, Payline Data, Charge.com, Moneris Solutions (US/CN), Creditcall and Authorize.net, all offer multiple ways to accept payment, including the ability to accept credit card payments online.

The above payment processors are perfect for an online business that is just starting out, this is the most efficient, effective, and economical way to get started in accepting online payments. As your business starts to grow and develop, it may be necessary to investigate obtaining your own merchant account for transactions.

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10. Your Business Email Accounts

In order to build a long-lasting, professional, trustworthy relationship with your clients, it is advisable to have an email account that is associated with your domain name. You can do that once you have purchased your domain name, make sure you have a hosting account that allows you to have domain related email addresses.

My Final Thoughts

I'd like to leave you with these thoughts to any aspiring home-business owner, pertaining your owning and running your online business:

  • Give the best service to customers,
  • Create a Brand you can be proud of
  • Sell Products and Services that you are proud to be Affiliated with
  • Keep making sure your customers receive the best Products and Service
  • You will reap great rewards in due season

Please bear in mind that Rome was not built in a day, in everything that grows there is SEED => TIME => HARVEST

Thank you so much for reading. If you like this post or have some experiences you’d like to share about being a home business owner or questions to ask please drop me a line in the comment box below, I love hearing your thoughts as I share mine with you.

Is Wealthy Affiliate a Legitimate Way to Make Money Online?

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