If you own your own business, you will probably agree, it’s not for everyone. It’s possible to be the exception and not the rule.
If you are new to entrepreneurship or considering starting a business, you’re off to a good start if you read articles and blogs like this one.
Sometimes, “knowing is half the battle”. Not everyone has all kinds of time to peruse the feeds of social media hoping for helpful content, though.
Being fortunate enough to be an at-home mom and wife for 20+ years, I have had ample time and resources to learn a lot on the subject of internet business.
Photo by SHVETS production: https://www.pexels.com/photo/man-falling-carton-boxes-with-negative-words-7203956/
I can try to be helpful, but “you don’t know what you don’t know”. I resist the urges to send emails and IMs giving uninvited advice and suggestions. I mean well, but it doesn’t often go over well.
It’s taken me half of a century to discover my purpose and passions. Now that I know, time is of the essence, since I don’t likely have a half of a century to make a difference.
Helping others find answers and fixes to questions and problems in order to improve their lives is my intention. I have many resources and some knowledge in several industries, niches, and subjects so I am determined to use it to elevate life for as many of us as possible.
My exploration has landed me smack-dab in the middle of the world-wide web. Since I see so few locals truly benefitting from the internet, it’s my mission to put people with the right knowledge and the right people to reach new heights in their lives.
So when considering whether or not to start a business, it might be helpful to know what home business owners often encounter in the way of challenges.
1. Isolation: Absence of collaborative efforts and co-workers tends to have an isolating effect. Keeping this in mind, it’s a good idea to network and have regular face time with peers and mentors.
2. Time Management: Balancing work and personal life becomes tricky when your home is your workplace. Effective time management is crucial. Maintaining a consistent regimen or routine will help.
3. Distractions: Home environments can be filled with distractions, making it challenging to stay focused on work tasks. Knowing what distracts you can help you to find ways to ward off these efficiency snatchers!
Photo by Robert So from Pexels: https://www.pexels.com/photo/a-squirrel-hanging-on-a-branch-and-eating-from-a-squirrel-feeder-16449632/
4. Financial Management: Managing finances, budgeting, and dealing with irregular income streams can be challenging for home-based entrepreneurs. *TIP* Set up a different account for each income stream, payables, receivables, and payroll (even if you only pay you.)
5. Marketing and Visibility: Creating a strong online presence and effectively marketing products or services can be daunting for those new to digital platforms. Take advantage of tools and free webinars.
6. Legal and Regulatory Compliance: Navigating legal requirements and regulations for home businesses, including permits and licenses, taxes, disclosures, etc. can be confusing. YouTube is a terrific source for information and tutorials.
7. Client Acquisition: Finding and retaining clients can be challenging, especially in competitive markets. Networking is a good way to gain support and word of mouth advertising. Get reviews and testimonials, too.
8. Technological Challenges: Dealing with technical issues, cybersecurity concerns, or adapting to new technologies can be a frustrating hurdle when you can’t just ask a coworker or IT for help. (Not to mention integrations, domains, hosts, automated emails, ISP, API….).
Photo by Mikael Blomkvist: https://www.pexels.com/photo/business-plan-schedule-written-on-the-notebook-6476808/
This last one is my biggest pain point. Yes, IS, as in currently. If anything can make me feel stupid (😖🤯🫨🧐🤬) this is it. Domains, integrations, blah blah blah. Gets me every single time.
Do you have your own business? Been thinking about it but challenges holding you back? I want to hear about it. Feel free to leave your struggles or fears of struggles in the comments!
If you are interested in networking and learning from others or sharing your knowledge and experience click below.
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