Top 6 Reasons Most Home-Based Business Fail and How to Fix It
Starting a home-based business is a great way to generate extra income and even to get you out of the rat race. But the truth is, most people fail in their home-based business due to several reasons. The good news is, it can be fixed (if you are willing and serious enough to make your home business a success).
(While mindset and attitude are critical in the business success, choosing the right home-based business is also important to reduce the chance of failures. Along with this post, I have a free resource to guide you on how to choose the right home-based business. There are total of 9 tricks and tips for choosing the right home-based business. To get your free resource, simply click the pink banner below to send us a Facebook Message, type “free download 2” in your message.)
Most of the time, people are blaming that home-based business ideas don’t work. But the truth is home-based business failures are usually due to the wrong mindset and attitude of the business owners. Let’s see what are those.
Why Most Home-Based Businesses Fail and How to Fix It
1. Work On It Only When They Are Free Or Anytime They Like
Most people start their home-based business with the assumption that they can work on it anytime they like. Thus, they are working on it only when they have time after settle all their primary commitment. But the truth is you will never have time for your home-based business if you never spare the time for it.
How to fix:
Follow this one simple rule: Treat your home-based business as a real job! (at least for the time being until you are achieving the success you are looking for)
Set a regular working hours and devoted that time entirely to your home-based business. Make sure to stay focus during those hours.Treat your home-based business as a real job by setting a regular working hours and make sure to stay focus during those hours. #homebasedbusiness #homebusiness #homebusinesstips #workfromhome Click To Tweet
2. Didn’t Keep Track Of Tasks Properly
Most people are naturally NOT an organized person. Me too. When I was working from home, this meant I would often work on tasks that I felt like at the time and not on other ideas I’d had. This meant I was not making the optimal use of my time.
How to fix:
Kept a detailed list of all tasks that needed to be done and then assigned times to work on each of them. This would have meant more important tasks got done ahead of less important ones. One way to help you keep track of your tasks is to use Trello. It is free and easy to use.
3. Always In Learning Mode But Lack Of Action
We can easily deceive ourselves that we are working on the business by learning through many articles, watching the home courses, attending the workshops and so on. While all these are good and essential for success, however, it means nothing if we never take action based on what we learned.
In most cases, we could be too busy learning until we lack of time to take action that can generate real revenue.
How to fix:
Set aside time for learning and time for taking real action.
4. Too Much Distraction
Working from home can be very relaxing until we forget about the fundamental of being disciplined. They are not prepared to really dedicate themselves to the hard work it takes to be successful in working from home. It is simply harder to stay on task because of the distractions of the home.
How to fix:
Mute all your social media notification (unless if you need it for your business). Dedicate a corner at your home as your regular workplace, it can be at your study room, the living room or even in the dining area. The point here is to make it a consistent workplace as keep on changing your workplace can make you hard to stay focus.
If your home is too noisy, maybe you can try to dedicate your work hours at the time with less distraction. For example, it can be at night after your kids are sleeping, or, it can be early in the morning before your kids are awake.
5. Not Being Teachable
Most people thought that they are already “have-what-it-takes” to be a successful entrepreneur. Instead of paying attention to the guru’s specific instructions, formulas or strategies… they do things their own way.
How to fix:
Make a decision to stay humble and teachable. It’s easier to make money in your home-based business if you can simply, mindlessly follow the formula laid out for you. Make the cold calls, use the scripts, build the sales pages, etc. Don’t re-invent the wheel.
6. Sales Skills
Most home-based business owners fail because they’ve never been taught simple sales skills. In fact, 90% of them hate “selling” without realizing that they are already selling everyday. For example, when you interview for a job and trying to impress your boss, that is “selling”. When you convince your husband to buy something for you, that is also “selling”. Whether you agree or not, the fact is, you are selling everyday.
How to fix:
You need to understand that whatever business you are doing, sales skill is very important. Make it a decision to master your sales skill and start practicing it. Let go of your fear of making sales mistakes.Whatever business you are doing, sales skill is very important. Make it a decision to master your sales skill. #salesskill #workfromhome #homebusinesstips #homebusiness Click To Tweet
Check out the resources below that will help you start a work from home & healthy lifestyle:
1. Work From Home – Learn More Here
We provide online tools, systems, coaching and support to those that appreciate the benefits of working from home. Find out more if you are considering working from home.
2. Momtrepreneur & Lifestyle Community – Come Join Us Here
Here, we share our insights, experiences and encouragements to be a well-versed Momtrepreneur. Besides business, we may also talk about life topics such as parenting, self-improvement, lifestyle and many more.
3. More Tips On How To Eat Clean & Healthy As A Busy Mom – Let’s Start Here
Besides running my home business, I am also taking good care of my body to make sure I stay healthy. Without a healthy body, I won’t be able to accomplish much in my business and also in my family life. As a busy mom, I need to be efficient in managing time and money too. I cook very simple yet delicious weight loss meals everyday.
Do you want to get more tips on how to eat clean and healthy while still busy with your business/career and family matters? I have created a new facebook group just for that. Come join us to start the healthy clean eating lifestyle!
4. Motivational Gallery – Click Here
I compile some useful motivational quotes to help you change the way you see things and inspires you to move on in life. You can easily save the images into your Pinterest board or to your mobile.