Starting a Global Business from Home
10 Questions to Ponder Before Starting Your Global Business
Tired of your job? Need a change? Looking to create another source of income? Are you ready to set up a global home business? Before going any further, answer these 10 questions thoughtfully. Your answers will prove vital in determining whether or not to move forward in setting up your home business. Sure, it may seem arbitrary to spend time answering questions when so many other tangible tasks must be completed, but this step is truly the most important part in the whole set up process. Why? You want to make sure your home business dreams match with your current reality. Your reputation, financial risk and time could be at risk.
- Why do you want to start your own global business? This question will be what motivates you to keep going in your home business. Since many people will move from a ‘job mentality” to an “entrepreneur mentality” it will be important to have a very compelling reason to want to start a home business.
- What is your product/service offering and what makes it better than the competition? Spend some time knowing what EXACTLY your USP-unique selling proposition is. Unless you are a first to market product/ service you will face some stiff competition so know your USP.
- Who is your target customer or client? It’s important to know your customer so that you can create a marketing program tailored just for your target customer or client. Without a constant flow of customer or clients you won’t have the revenue to stay in business.
- How will you afford the start-up costs of your business? All businesses have some start-up costs. Make sure you are well capitalized in the beginning and know what it will truly take to launch your home business.
- When will you work on your home business, especially if you are a stay-at-home parent? Whether you will operate a part time or full time business, it’s important to “time block” when you will physically and mentally be working your business. If you want to succeed in your home business, you must treat it like a business. You shouldn’t let home life distractions keep you from working your business.
- Where will you work on your home business? Dedicate some space in your home just for your home office. It can be a spare bedroom or common area, just keep it in an area where you can focus and not be distracted while you work and build your home business.
- Are you comfortable self-promoting you, your product and/or your service? No one can promote your home business better than you. You must truly believe in your product or service so that when you share it with other people they can tell that you unequivocally believe in your product or service.
- Are you a self-motivated person by nature? In home business, there is no one standing over your shoulder to ensure your work gets done. It takes pure will power and self-motivation to run a successful business out of your home.
- What does your family think about you working out of the home? Having a supportive family is critical. A family must know the boundaries. That is, when you are on the phone, meeting with clients at your home or hosting home events that you are running a professional (albeit fun) business.
- Are you willing to make the sacrifices necessary in order to spend the amount of time required for a successful home business? Building a successful home business is not built around a comfortable schedule. You might have to pass on your “American Idol” shows and give up the bowling league so that you can work your home business.
Once you have spent time contemplating your answers to the questions above, determine if your answers point you towards starting a home business. If so, it is time to move to the next step. Get your initial investment and costs ready. Now we determine whether or not your business idea has the potential to be successful. Spend some time going through these questions before you even think about starting your home business. It takes GUTS to start a global business. The question is, “Do you have them?”