After buying our first home, my husband and I faced the all too familiar challenge of finding reliable home improvement contractors. We were fed up with blindly picking names from the Yellow Pages and waiting for contractors who didn`t show up. At the same time, I had just left Corporate America to become a full time mom and was looking for a way to balance a career and my family.
It occurred to me that if we were having trouble finding contractors, other homeowners must be facing a similar p
If you want a good book to read, check out "The 4-Hour Work Week" by Tim Ferriss. It's one of the best books I've ever read for expanding your business without running yourself ragged. He has excellent tips for outsourcing workloads and/or daily tasks, streamlining operations and really just making your life more efficient. His whole view is, "why work every hour of the day if you never have time to enjoy your success?"
For me personally, when I started my business and I found that it was growing beyond what I was capable of handling on my own, I decided to take a different route than most. I could have hired employees. I could have expanded my home-based business to an office somewhere. Instead, I decided to turn it into a model that I could teach others who were interested in doing the same thing. This allows me to still run my own small business, but also earn profits by selling what I've learned. We've even started an affiliate program to bring in more interested future home-based business owners.
I agree that you should be interested in what it is that you do for a living. However, just because you have interest in something, doesn't mean that you would be successful in it. There are many factors that will affect your success. First, are you any good at it? Just because you like to draw, doesn't mean that you have the talent to be a successful artist. Second, is there a demand for it? If you're the only person who shares your interest, you'll be selling to yourself. Third, are there a million people out there doing the same thing? Look at what happened with the whole "cupcake craze." I couple people who were interested in cupcakes decided to open shops, and now everyone with any interest in baking wants to open one. There are three cupcake shops just on my street alone, and none of them make enough money.
I would start with finding a niche that needs to be filled and then determining if it's something that could interest you. Even if you're not an expert, you can learn all there is to know about it with some simple research. If you don't think that you could develop an interest in it, then find something else.
Is there a solid business model that is both doable and potentially profitable?
This is one of the biggest questions, as well as biggest perks to buying into a franchise-type business. You have a business model that has been proven successful time and time again. You aren't stuck starting from scratch with no idea what you're doing and no one to turn to. You have the peace of mind of knowing that there are others out there doing exactly what you are.
There are also businesses out there, like mine, who offer our model for only an initial investment cost. There are no residual commissions to pay back to the mother company after you get started. If you're concerned about that loss of profit, make sure you look for a business that doesn't require it.
"Before starting a new business, you have to follow some steps:
> Analysis the market condition.
> Check your budget."
I'd say these are the two most important steps to starting your own business. Regardless of the business concept, it's going to be extremely difficult to build a successful company if your market is already flooded with tons of people doing the same thing.
You also need to look at how much you can afford to risk if worst-case-scenario, you fail. You never want to lose everything.
Also, it's good idea to find out with there are others in your industry that you can to for advice or a business model that you can borrow from.
Is taking your 2 year old to Chamber of Commerce events the norm for you?
Do you think that you are the only one that plans your online marketing around your child's nap time?
Does your definition of paperwork also include pottytraining?
I am a stay-at-home dad who also runs a full time business out of our house, so that my wife isn't forced to quit her job and so I can get out of the 9-5 rat race, and more importantly, so that my daughter knows who her dad is and I am not someone that she sees leave in the morning and then right before she goes to bed at night.
I've set up this group as a support group for those in my situation or planning on getting into my situation. Don't get me wrong. This is not a situation that I would change for anything, I just know that I have things that I have learned and I know there are things I have yet to learn. Maybe we can all learn together.
Drop me a line.