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    1 Reply Latest reply on Aug 4, 2009 6:42 AM by LUCKIEST

    Guidelines to Effectively Scuttle a Home Bussiness

    alishanayak Newbie
      I started to think about what I will do differently if I were to start my home bussiness today. If anyone want to start, Then what to do (and what not to do) when running a home-based business. Here are some in my list:

      1) Decide what you do best, and focus on it. For other things you can do marginally, consider hiring others to free up your time to do what you do best.

      2) If you are concerned about the cost of outsourcing or hiring outside help, calculate how much time it will take you to do the task yourself (and the opportunity cost of foregoing things you should be doing), and see which option makes the most sense.

      3) Little kids and a work at home are very hard to mix. Either you decide to work only when the entire household is sleeping (that means no sleep for you!).

      4) Sit down and make every effort to understand your business financials. Not only is the knowledge important come tax time, you can achieve your business goals faster if you know where you stand financially.

      5) Understand your cost structure. You can only price your products well if you know what it costs to produce them.

      6) Learn how to chill out and take a break from work. Discipline yourself to stop checking emails while eating dinner with your family.

      7) Calm down and have fun. You are working from home so you can be free from the thorough stress and timetable of business surroundings. Take a break from work and take pleasure in life at home.