Will Your Home Business Succeed or Fail? It's
Your Choice.
by Ian Canaway
Published on this site: September 9th, 2005 - See
more articles from this month
You may operate a home business selling services or products,
but no matter which kind of business you're in, there's always
a question in the back of your mind: will my home business
succeed or fail, or do I have the motivation it takes to keep
it afloat?
Whichever type of home business you have, it's important
that you know ways that you can keep your business going during
slack times and/or economic downturns. If cash flow is a problem
in your business, you should be sure to make certain that
your money management techniques are on target and well refined.
Some of the things you can do to make sure your business
will survive in the 21st century is to avoid impulse expenditures.
There are many reasons for impulse spending, even as it applies
to business. We may fall under the persuasive spell of a salesperson
who has talked us into buying things we don't need.
Maybe we simply made impulsive purchases because we had a
little extra money, or perhaps to keep up the appearance of
prosperity. Then you realize a few days later that you've
committed some of your business funds to products or services
that are not necessary for the success of your business.
"It is not because things are difficult that we do not
dare, it is because we do not dare that they are difficult".
-- Seneca
Here are some tips to help you avoid these impulse purchases
and make certain your business succeeds:
- You can help control impulse purchases by requiring two
(or more) signatures on all company checks over a set amount.
This will give you time to seriously consider whether or
not you really need the product or service you are about
to buy.
- If you are vulnerable, you can get yourself out of the
grasp of an insistent salesperson if you explain that all
purchasing decisions are contingent upon the approval of
a second party. This so-called second party can be anyone
- a partner or a department head or even a family member.
- If you are the sole owner of your business, you won't
need to worry about these impulse spending patterns because
you normally have three days to cancel your purchase if
you decide you don't need it or that you can't afford to
spend the money. However, be sure that you don't skimp on
services or products that you really need.
- When business is slow, you must learn to say "no"
to anyone, even friends, who are trying to sell you unnecessary
items. When business is good, you will probably allow more
vendors to show you new equipment or new lines of so-called
"new and improved" merchandise; otherwise, concentrate
on your basic needs. However, take particular care that
you are courteous so these vendors will consider you a friend.
- If you commit yourself without investigating all details
and charge ahead, you may be setting yourself up for failure.
Be certain that you are prepared for all situations and
emergencies that could arise.
It pays in the long run - regardless of cost - to ask for
professional advice before you start on any plan; it may
prevent failure of your business. A business without a plan
is like a boat without a rudder, you may be lucky and drift
safely shore but most likely you'll end up on the rocks
with 90% of other home business owners who fail because
they don't have a plan and goals.
- Another way to assure the success of your home business
is to be sure of the direction your business is heading.
You should be aware of your daily progress and monitor what
your competitors are doing. Stay abreast of business trends
and sales information for your particular industry.
Whether your home business succeeds or fails is dependent
upon good money management, having decisive goals and a
definitive plan on how you will achieve them. Also your
motivation and the ability to foresee and solve any problems
if and when they occur, is a deciding factor as you whether
you succeed or fail.
Take the bull by the horns and decide now where you want
to be at the end of the year, in two years time, in five
years and set about following a precise plan of action to
achieve your goals. Take daily action to ensure success;
if you truly want to succeed you will take daily action,
work hard and persevere.
"Through perseverance many people win success out of
what seemed destined to be certain failure." -- Benjamin
Disraeli
Ian Canaway will help you launch your very own money
making website today that's 100% ready to take orders and
pull in massive profits for you right now...guaranteed! Visit:
http://www.asuccesfullhomebusiness4u.com
|