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).
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 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 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, or may be a Google Spreadsheet. Personally, I love Google Spreadsheet. 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 them for your business). Dedicate a corner at your home as your regular workplace, it can be in 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 them. 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
If you are not sure if starting a home business is the right choice for you, or maybe, you are not sure how to choose the right home business, don’t worry.
I have these simple tips and a quick checklist to help you.
To get these free guides, go to the Freebies Page.
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. Motivational Gallery – Click Here
I compile some useful motivational quotes to help you change the way you see things and inspire you to move on in life. You can easily save the images on your Pinterest board or on your mobile.