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Are You Making These Mistakes With Your Home Based Business?

October 28th, 2008

home-based-business-mistakes.jpgStarting your own home based business can be one of the most exciting and rewarding things you have ever done, but it can also be fraught with hidden dangers and unforeseen obstacles. This article by Sadiyya Patel details four of the most common mistakes that home based business owners make as well as how to avoid them. Frankly, most of this seems like ho-hum common sense stuff, but as one forum poster put it, since common sense is often in short supply these days, perhaps someone actually does need to mention these things.

Mistake #1: Conducting Your Business In A Sloppy or Unprofessional Way

Working from home is no excuse for conducting your business in an unprofessional manner. The way you handle inquiries, customer service, your business operations, your promotional materials, and any written correspondence should be a reflection of the competent professional you are.

If you are haphazard or careless, you will quickly lose the respect of your customers and other business people that you work with. And soon enough, both your profits and your reputation will suffer.

One of the main reasons that customers use a home based business is because they feel that they can get personalized attention. Treating all your customers with respect and professionalism will help to develop a loyal customer base that will sustain you even during a recession.

Word of mouth referral is one of the best ways to grow your home based business, but remember that reputation can go both ways. This is why it’s vital to deal with unhappy customers as quickly and effectively as possible before word spreads.

Mistake #2: Not Keeping Family and Business Separate

Before you even open your home based business, you need to set clear cut boundaries between family and business. Set up a signal so that your family knows when you are working and not to be disturbed. For example, a closed office door, a “Do Not Disturb” sign, or perhaps even working at your desk can help to send the right message.

On the other hand, when you are with your family, don’t take business-related calls or be tempted to squeeze in just one more business-related activity. Give your family your full and undivided attention.

Mistake #3: Not Having A Business Plan

Business plans are not only for multi-million dollar corporations but are also vital to the success of small home based businesses like yours. Trying to run a home based business without a business plan is like trying to build a house without any sort of blueprint for how to begin.

Even a simple one page plan provides a framework for your business from which you can grow and expand.

Mistake #4: Having Inadequate Technology Or Poor Tools

This doesn’t mean that you need to rush out and get the latest piece of equipment with all the bells and whistles. But you do need equipment that will produce the best results at a reasonable cost and that will allow you to be competitive in the marketplace.

Are you guilty of any of making any of these common mistakes that could result in the failure of your home based business? If so, take measures to correct them now and become part of the 5% of home based business that thrive.

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