Just like anything in life, there are many struggles that we have to deal with in a home based business, especially in the beginning. The challenges of dealing with the unexpected and dealing with the things that are outside of your control sometimes get the best of us as human beings. However, when you understand what contributes to your struggle, you will be able to better defeat that struggle. The same thing applies to the struggle of your home business.
Here are five struggles that a person may potentially deal with in his or her home business.
1. Transition from Job to Business: This is a great struggle for people to deal with because most people are very comfortable with their position financially. The idea that a pay check is guaranteed every week or two weeks gives the person the impression or facade of stability. Even if we all know that any job could potentially end at any time. Nonetheless, the transition from job to full-time business person is a great struggle for many.
2. Marketing: Not all of us have the gift of knowing where all the buyers are or predicting buyer behavior. Because of lack of knowledge in marketing, home business people sometimes get nervous or scared to set a budget for marketing. Therefore, business people will waste valuable time trying to learn how to use “free” methods of online marketing or offline marketing just to cut costs, but little do they know, it is hurting their business.
3. Tax Knowledge: Understanding taxes is probably the highest struggle because people don’t understand that they have to consult someone for tax advice. Make yourself aware of what you need to do in order to get yourself situated with taxes. It will always benefit you to keep updated about the tax laws about the business you are in.
4. Licensing: This is also a very stressful thing for people to think about because we all know that eventually we have to get “legit.” That way you can be a full established business. The problem is, people don’t want to deal with this part because it costs a lot of money for most people and they don’t want to deal with the paperwork or legal fees.
5. Work Space: This is another problem for most home based business owners because they may think that they can work “anywhere.” However, the truth is that most people cannot work in areas like their living room or in the basement. In fact, probably the most difficult thing to figure out is where to create an effective workspace. You have to make sure that the space is big enough to place a desk and/or a printer and other materials that will that you use within your space. This is usually a bedroom or den area in the house.