Perhaps you’re finally taking the first steps towards becoming your own boss, or you are just starting a part time business so that you can have some extra money; either way there are some rules you will need to lay out for yourself before you can have a successful business. Many people follow their dreams only to watch them become their worst nightmares; money comes in, but it’s never there when they need it or they have trouble actually getting to the job every day. Over the next few months, you will have to do some careful business planning if you want to succeed and then act on those plans. This article should help you with both jobs.
Giving Your Time to Your Business
Don’t get into the ‘it can wait’ lifestyle. Many talentpowered entrepreneurs find it hard not to put off work until tomorrow – don’t fall into this trap. Set a time goal and make yourself work for this, maybe you can put one hour a day into your business. If you can balance a one-hour work commitment, set a clock and force yourself to work for that one hour. Even if you just spend your hour staring at a computer screen, you are at least training yourself to put aside the time. Be careful of the meaningless things that will try to take that hour. In other words, no playing on the internet during work hours. Many people begin using social media during work hours and never truly set aside time because they get engrossed in what someone else is doing and then they waste their own time.
Who is Your Boss?
You now have the world’s best boss – they understand all your problems and know when you need a break and when you can push on. Your boss is inside your brain. To have a successful business you are going to have to strong arm the lead employee, and that employ is yourself. Don’t let yourself off work over any whim that crosses your mind. If you take off time, make it up later.
Budgeting for Success
Many self-employed business owners have trouble with accountability where funds are concerned; in short, they are embezzling their own business. Although this type of embezzlement is not illegal, it can still choke out a business quicker than anything else. Plan a budget and stick with it, then write yourself a check each week for one-fourth of your profits. Profits are what you have left after you deduct expenses. Eventually you will be able to give yourself a pay raise, but for the time being you will need three-fourths of your profit for business growth, insurance, and taxes.
Make a To-Do List
Keep a list of things you must get done; these are the little things that need to be done when you find the time. When you find yourself staring at a computer screen and aren’t sure what to do, take your to-do list and try to get a few of the items checked off it. Anything checked from a business to-do list is a little success story for your company.
Work Time and Family Time
Many business owners find it hard to juggle time between family and work. For this reason, you will need work hours and family time both set aside for yourself. Make time commitments that you won’t let yourself break. Set weekends aside so that you can have family adventures, but still get to work when you tell yourself you will. Set the bar for yourself and force yourself to achieve the successes you have committed to, but never put your family and friends on the back burner for days or weeks.
So, there are five things to consider when working towards building your own business. Many people have dreams of becoming self-employed, but few can truly make these dreams profitable. You can be one of the few exceptions, if you just put the time, commitment, and accept the challenges, you can build your own business.