10 Rules for Home Business Success

by Andrew Shim

I think that every home business owner goes through the same thing at one time or another. After the initial high of launching your own business, being your own boss, getting your first customer and your first payment, making your first profit, comes the inevitable downturn. I once heard someone say "In business, there WILL be profit AND loss." Emphasis on the word "AND" meaning you WILL experience profit as well as loss (hopefully more profit than loss). Like everyone else, when I started working from home, I was filled with so much hope I never considered NOT making a profit, so when it happened, boy was it a wake up call. But as you keep pluging on, sooner or later, you kind of get the hang of things and you take the ups with the downs. Here's my 10 rules of home business success :

Rule 1 - Be positive - things will always look better

One experience every home-business owner knows it the feeling that you're not succeeding as fast as you envisioned - that you're just marking time and going nowhere. Too often, people give up on the businesses (and dreams) just when success is around the corner. Remember, your emotions are a bad indicator or how bad a situation really is. Always look back and see how far you've actually gone and how much you've actually accomplished than when you first started. Then remind yourself that there will be another tomorrow and things will look better in the morning. Be positive even when you don't feel like it. Talk to yourself and say positive things. Be Positive. Always.

Rule 2 : Okay, Get mad, get sad, then get over it

Didn't I just say emotions are a bad indicator of how bad a situation really is in Rule 1? Well, emotions are also part of what makes us human. If you didn't feel bad about when you lose a customer, that would mean you didn't care about your business. If you didn't feel angry when someone tells lies or tries to cheat you, that would mean you don't feel a sense of responsibililty to your business. But it's also counter productive to keep dwellin on those feelings. It saps you of your energy and your focus. So go ahead and express your feelings. The next time a customer drops, drown your sorrow in a tall thick milkshake and forget about the calories. The next time your competitor spreads lies about you, scream and let out those expletives (make sure your kids aren't listening), then paste a photo of him on your dartboard. Then, get over it. Tomorrows another day and your turn will come.

Rule 3 : Keep your work and your life separate.

Even though you now work for yourself and probably work even longer hours, you've got to keep your work and your life separate. It will probably be more difficult, especially when your office is right there at home, but remember why you started your home business in the first place. Don't bring your problems into your personal and family life. Keeping a professional detachment from your business when you're off the job. Personal and family time is for you to re-charge and prepare for the next day's load. When you go through a tough time, remember that it doesn't mean you're not good enough or smart enough or working hard enough. Every business goes through ups and downs. Realize that from day one and you'll be a lot happier.

Rule 4 - Who says it can't be done?

It's funny really. When you work for yourself, you could just end up being your own worst enemy. Remember when your boss used to push you hard and whether you liked it or not you did the job. You probably suprised yourself at what you accomplished right? Well when you're your own boss, you're the one who's got to do the pushing and it's all too easy to just give up when the going gets tough. Don't allow self-imposed limitations to dictate what you can or cannot do. If you've got a goal, go for it. Remember, there aren't any more committees you have to pitch your idea to, no more colleagues to discourage you, no more short-sighted bosses to tell you the idea just doesn't fit in with their image. YOU are the boss and YOU call the shots. Comprende?

Rule 5 - Keep your eye on the goal

It's easy to get distracted when you work for yourself. It's easy to take a cat-nap when you should be working. It's easy to take a three hour lunch when you've got a deadline. It's easy to pity yourself when your competitor makes strides.

When you're at work, do the job and do it well. Keep you eye on the goal and don't let the other stuff interfere and make you lose sight of your goal. You're here to run your own race and you decide how you're going to do it best.

Rule 6 - Carry a magnifying glass or check the small things

It's amazing how a small thing can cause you to lose days of work and lots of money. A mis-spelt URL on your ad, or letterhead and take a lot of time to correct and makes you look bad. Take time to read the fine print in your contracts so you don't back yourself into a corner you can't get out off. Take the time to ask questions no matter how trivial you think, escpecially when purchasing equipment - you never know when a small detail can mean a lot to you and your business.

Rule 7 - Give credit where credit is due.

You might want to think that you've come this far on your own, but that's not true. You're a success because of many people - your spouse for always being there for you, your kids for understanding when you have to work and can't take them to the movies, your friends when they refer a client to you, your customers when they speak well of you, your suppliers when they go out of their way to deliver a product to your fast because a big deal depended on it, and the list goes on. Give credit where credit is due and always say Thank You.

Rule 8 - Be Calm, be careful

When something unexpected happens - increased competition, downturns or sliding profits, be calm. Blindly reacting to your fears and emotions can jeopardize all that you've worked so hard to achieve. Remember Rule 2. Recognize your emotions, give yourself time to vent those emotions, but don't make decisions that will affect your long term when you are emotional. Sometimes, it's good to take the day off or take a step back and look at things from a different perspective. Then move slowly if time is on your side and always be careful. I always think two or three steps ahead of every decision, asking myself what would happen if I did this or that. Sometimes, all it takes is a little adjustment to get things back on track.

Rule 9 - You can't be Mr. Nice Guy all the time.

This couldn't be more evident in my business. We run a home catering biz, supplying daily meals to more than 50 families. No matter what we serve, what we do or how we do it, we will NEVER please everybody at the same time. We know that whatever decision we make, there will be some who aren't going to be happy about it. In a business where customer turnover is pretty high, we recognize that every one will move on to try another catering service every 6 to 8 months, we've come accept that it all boils down to doing what's best for the majority without jeopardizing our business goals. If some folks aren't happy with it, then they've got to deal with it.

Rule 10 - Aim High.

When my son was a wee toddler, he would insist on going to the Men's toilet to use the urinal. After a couple of mishaps, he finally realized the secret and told me. He said if he really high, he wouldn't miss.

I'm not giving you potty advice here, but that's a lesson ALL of us have to take to heart. You're in your business to succeed. You've got to think big. If you only hope for 50 customers, then that's all you're likely going to get. If you only need $5,000 a month to live comfortably and you only set your goals for that, then that's what you're likely to get too. But imaging what if you don't meet your target and you end up with less? Can you live with that or can your family survive on less? Every successful business person knows this secret - aim high and you won't miss the target.

So there's my list of 10 rules for home business success. Learn them, remember them and practice them and you'll make your life a whole lot easier.