Many articles that give tips for balancing work and family are written based on the idea that you want to keep them separated. But since these two major areas are a big part of your life, why not try to integrate the two rather than segregate them? You may find that you are more motivated and that your business becomes more successful if you turn it into a family endeavor.
When the whole family is invested you can tap into the unique talents of each member and there less chance of resentment developing over the amount of time you are spending building the business. Balancing work and family is not easy but if you work at it, you may be able to create the supportive dynamic you need to build a successful business.
There is something that has had me scratching my head for awhile and wondering about the thoughts that go through people’s minds. Some business owners I have met are running multiple mlm businesses and sometimes in addition to a full time job. It is one thing to want to maximize your earning potential but how many is too many?
This year 97% of all home based businesses will fail. That statistic may seem abnormally high but just because a business does not go bankrupt doesn’t mean it didn’t fail. Much of the home based business failure occurs simply because the owner gives up and goes inactive in their business.
The causes of business failure vary. Between family and a job, some people aren’t able to put in the necessary time. Others are impatient expecting to get rich quickly. When that doesn’t happen usually they quit one program and move onto another they think will generate the millions of dollars they seek. However, the main three reasons businesses fail are:
There is a terrible fraud being perpetuated in the ecosphere that threatens to undermine the trend towards green living and is causing many consumers to unknowingly pollute the environment while under the impression that they are saving it. It’s called greenwashing and many unscrupulous businesses are indulging in this deceptive marketing tactic to con you out of your money and stomp on the environment at the same time.
In a previous blog post, we talked about the definition of a green business and some reasons why you would want to build a sustainable business. In addition to creating a healthier and more stable environment for current and future generations, having a green business can be very profitable. Your business overhead will be lower and you’ll be able to command higher prices for the products you sell.
How you go green depends very much on where you are in your business. People who want to start a green business will definitely have an easier time of it than people with an already established business. In either event, here are a few tips for building a sustainable business that will help you prosper in this new era of eco-responsibility.
Judging by the statistics published by the Small Business Administration, it would seem that running a successful home based business is an impossible task. After all, only two-thirds of businesses established each year make it to their two year anniversary. Out of the lucky ones who survive, only 44% are able to keep their doors open for five years.
But don’t let those numbers discourage you from taking the leap from cubicle slave to entrepreneur. Being in control of your time and income is a worthy reward that far outweighs the risks associated with going out on your own. Here are the five secrets to building a successful home based business that will help make sure your business sticks around.
Monday, June 14, 2010
0 Comments