Top 10 Myths about Home Based Business

Top 10 Myths about Home Businesses.

top 10 myths
Thanks Guys, what a great show
1st of the top 10 myths
The hours are easy.

Lets displace the top 10 myths. It’s tempting to think that running a home-based business involves a few hours on the computer in the morning, a nice leisurely lunch, maybe a phone call or two in the afternoon before an early finish.
However, if your business is to be anything other than a mildly diverting sideline, you will have to put in the work.
“When you’re by yourself, you do everything – bookkeeping, marketing, sales, the lot,” says Christine Greig, who runs BestEverHomeBusiness.com from home and has done for 7 years.
“All of this takes a lot of time and people underestimate this. They often take things on as a hobby and then find it is very popular and organically grows. They don’t think long-term.”
Set a strategy for your business early on, have an in-depth business plan. And consider outsourcing – it’ll save you time.

2. You can sit back and get rich quickly.

Despite what the endless ads tell you, there aren’t any jobs that will earn you big bucks just by staying at home making the odd phone call.
You look at the content behind those stupid Google ads about homeworking and it promises that you’ll be working for about seven minutes a day.
You can be a success if you have the right business model but, if not, you’ll fall on your face.
People who are pushed into home working because they lose their job or think they will get rich quick are more likely to fall over. They set up a Facebook page and wonder why no one has turned up.
It’s better to start a business that you’re passionate about. You’re then more likely to be proactive and engage with people.

3. You don’t need to spend money on day care.

For busy parents, working from home may seem like the ideal solution – not only do you see more of your family but you also save money on day care for your children.
Right?
You will regularly, need a babysitter for your children, and hubby can help out, but you need the balance as you may need to go out for meetings.
Also, you won’t keep to normal working hours, kids at school?

4. It’s not a real job.

Perhaps the most hurtful myth about home-based working, is that it is somehow a lesser job. That it is a frivolous hobby for bored mothers or fathers, rather than a platform for fast-growth businesses, ignoring the fact that the likes of Google, FaceBook and Amazon started life as home-based start-ups.
People tell me “that it’s not a real job” a bit frustrating.
It has got a bit of a bad rap, look at the number of people who work from home. Look at what many of them go on to achieve. They are worthwhile businesses and they are contributing to the economy.

5th of the top 10 myths
All you’re doing is moving your job to your home.

This maybe so but the biggest advantage here is no commute. If you set up your office to be efficient tidy and productive you will find you will be more aware of what needs to be done and when. (efficiency). The way communication is now, nobody cares or would even know you are not sitting on the 36th floor, or sitting in your home office looking out of your window and in my case, a green paddock with 5 horses.

6. You don’t have to worry about health and safety.

If you are wallowing in a messy, potentially dangerous home-based office, you risk more than being called a slob.
Not only is your own health and safety important if you are to keep running your business, but any staff and clients will need to be protected too, as a recent case where Telstra had to pay medical and legal costs for an injured home worker highlighted.
Ensuring that your home is a safe workplace doesn’t happen by chance or guesswork.
It requires a systematic approach to finding and fixing hazards and risks and any particular circumstances that apply to your home working base.”
I advise going through five key steps to get your OHS in good shape:

*Finding hazards that could hurt the people who either live, work or visit your home.
*Family forums that bring together all of these people on a regular basis to make sure that they are as safety conscious as you are and
undertake the safety drills that are an essential part of hazard awareness.
*Figuring out how the people in and around your home life could get hurt and working life hazards (the level of risk).
*Fixing identified problems by sorting out and installing the most effective risk controls that are reasonably practicable under your
circumstances.
*Following through on your risk controls and checking that they are working to cope when things do not go according to plan.

7th of the top 10 myths
Your home life will remain exactly the same.

Home is a nice place to relax and turn off after a long, hard day at work. Surely, if you spend all day there, you will be permanently in the comfort zone?
Firstly, map your own interests and personal priorities and then set out how the start-up is going to help you achieve your objectives.
Be honest with yourself and answer these core questions: How will this venture change our way of life? What do I really like doing, and how will it shape my family’s future?
Who can support me while I get the business up and running? Where will all this take us and what will it cost to succeed?
Then you need to set aside a fixed amount of time for your business homework, when the kids have done theirs and get partners and friends to share the burden of developing your start-up as an adjunct to your family life rather than an alternative to it.

8. Clients won’t take you seriously.

Many budding entrepreneurs fret about the impression left upon clients by their home office.
Obviously, you don’t want to hold an important meeting with a key client while you are both wedged on the sofa, trying to ignore the child that is watching cartoons on the TV.
But this doesn’t mean that it’s impossible to convey a professional demeanour to clients.
If they have to come to your house, set aside a room for meetings and ensure there aren’t any interruptions. Better still, hold the meeting at a café or at a serviced office that you can rent out by the hour.
There are other tricks to making your business appear bigger, such as adopting a 1800 telephone number, but, ultimately, your customers will primarily care about the products or service you provide them. You working from home shouldn’t be a factor.

9th of the top 10 myths.
There’s no good financial reason, other than cutting overheads.

A common rationale for working from home is the money it will save you on office space, furniture and commuting.
But don’t be fooled into thinking that there is little other financial reason to working from home other than the overheads you’ll save on.
Australia’s tax code is fairly generous for entrepreneurs with home offices, with deductions offered for factors such as electricity, cleaning supplies, depreciation of office equipment, mortgage interest, rent, rates and insurance.
Indeed, the Tax Office provides a “bonus deduction” of 50% for small businesses with qualifying assets.

And finally 10th of the top 10 myths
Being at home all day is awesome.

Office dwellers commonly think that working from home is an indulgent luxury that they’d give their right arm to experience. In reality, working from home by yourself for a long period can be quite taxing. Entrepreneurs often miss the collaboration and
interaction that comes with working alongside colleagues.
You need a staged plan that lists the people who are your keys to success. This means that you identify business leaders, distributors and potential customers who you plan to meet and greet.”
By doing this you are proactively establishing what’s new and different and can overcome that sense of being cut off by your start-up activities.
Pick up the phone, send them an email and invite their comment on what you are doing.

Summary of the top 10 myths

Home Businesses are smart businesses, and becoming more and more popular. The old fashioned bricks and mortar businesses are great, but hugely expensive in comparison. For traditional retail they are best , but for digital direct sales or similar, home business is the perfect choice. But please remember, when you are working, you are working. I have a sign on my office door saying (not in these exact words)

Office hours 8:30am to 4pm. So… Get Lost, I’m Working.

p.s.   More interesting reading on my other blogs.

Live Free Retire Wealthy for those who want an easy life. Start now otherwise time will be your enemy. I say this from experience.

More Time to Ride for the horse lovers

Best Ever Home Business for those looking for a Brilliant Home Business Opportunity. This has been going for 7 years now and counting.

and Best Ever Home Business prosperity of life blog

Please enjoy.

Leave a Reply

Your email address will not be published. Required fields are marked *