Image courtesy of W. Kozak

Starting your own small business can seem like a daunting task at first. This is why many people never attempt it. However, if you break up your duties into smaller tasks, it doesn’t have to be overwhelming. In fact, if you follow these steps to starting a small business you may find that you’re a profitable entrepreneur in no time.

While you may not have to complete all of these steps, or complete them in this exact order, the following list should give you a better idea about the things you should be thinking about and planning for your business start up.

1.    Brainstorm Business Ideas. You may already have a business idea in mind, but it’s important to fully explore your options in the very beginning. Think about a few different businesses that you had in mind for yourself. Make a pros and cons list and see if you can narrow down your choices. Remember that starting a business is never something to be taken lightly, even if it’s just part-time.

2.   Have a Business Plan. If you’re starting your own small business, you must have a business plan. Even if your plan is simple, it should be written out for you in detailed steps. Too many people go in blindly without clear goals. They may end up profitable, but probably not nearly as profitable as a company with a business plan.

3.    Go Over Your Finances and Consider Hiring Help. Since you’re starting a part-time business, you might find yourself on a tight budget. This just means that you’ll have to plan carefully and make sure that you make some smart financial decisions. It’s a skill that every entrepreneur should work on in life. Also, the part-time nature of your business might mean that you don’t have a whole lot of time to invest. This means that you might need to look into hiring help, especially for some of the more tedious work.

4.    Come up with a Timeline. There are probably quite a few steps that you have laid out that need to be completed in order to reach your goals. Set out a timeline for every goal. Make sure that you set attainable goals, but still try to push yourself to achieve in a timely fashion.

5.    Setting up a Business. You might want to ask the advice of a local accountant about your particular laws when it comes to setting up a business. This is just because every country, state, county or even city may have special rules that you need to follow. There are usually many hoops to jump through right at start up, but once you get through it maintaining your various licenses from year to year shouldn’t be much of a problem.

6.    Taking Action. Your next step is to take some bold action to achieve those goals. Your business is not just going to launch itself. Starting a business takes especially hard work right at the beginning.

7.    Using Your Plan B. Sometimes everything will not go according to your plans. This is why it’s usually a good idea to have a Plan B in place. Your Plan B may end up getting you out of a tight spot.

8.    Evaluating Your Progress. As you continue on your journey as an entrepreneur, you’ll want to pause to evaluate your progress at certain intervals. Check on things like your profits and efficiency. See if you can make bolder goals, or maybe you need to scale back a bit. You should be constantly striving to be the best you can be.

9.    Maintaining Your Business. In the end it’ll come down to maintaining your small business. One of the final steps to starting a small business is to just keep doing what is working for you, but never fall into a pattern where you stop trying to better yourself. Your part-time business likely has the potential for full-time income and then some.

Discover how you can achieve all that you want in life in The 77 Traits of Highly Successful People. Mark Foo has brought together 48 personal development bloggers and writers to co-author this success eBook that spells out all the success secrets. Claim your FREE copy of the eBook now at http://www.77SuccessTraits.com.

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If you’ve decided that you’d like to be your own boss, it doesn’t have to remain a dream forever. In fact, with some proper planning on your part, you can become your own boss in no time.

If you want to be your own boss you need to start your own business. Being self-employed will more than likely seem overwhelming in the beginning, but in the end many people feel that the benefits far outweigh the costs. So start brainstorming some business opportunities!

Here are some reasons why you should be your own boss:

1.    You’re in Charge of Your Income. This can be seen as a pro or a con at first, but eventually the sky will be the limit as you develop your business. In the beginning, seeking self-employment might not make you as much as you used to, and you also may have to worry about issues like individual insurance coverage. The huge advantage is the fact that you keep every dime that you make and your salary is not capped by your employer.

2.    You Have Creative Control. You get to make all of your decisions, no one else is telling you what to do. This is huge because many people run into boredom issues at their jobs. If you can choose the business you want, you can also pick and choose the types of jobs you accept. You do what you want, when you want.

3.    You’re Responsible for Your Success. If you’re self-employed you can truly make a difference when you start your own business. This is because the success of the business lies on your shoulders. When you work for a large corporation, it’s easy to mix in with the rest of the employees and feel like it doesn’t even matter whether or not you show up to work. While you’ll still have to work hard when you’re self-employed, you really matter because you are your business.

4.    You Set Your Own Hours. Setting your own hours is a huge advantage. You know yourself best and you’ll be able to build a schedule that’s most efficient for you. If you want to work really hard one day, and take a half day the next day, that’s perfectly fine when you’re self-employed. You can work all night and sleep all day if that’s your personal preference!

5.    You’ll Be Challenged. Most people will find that they not only reach a salary cap when they work for someone else, but they also reach a point where they’re no longer challenged. When you embark on this new journey for yourself, it’ll be a risk and it’ll be a challenge. Also, as you keep gaining experience and income, you’ll continue to be challenged as you reach higher and higher levels.

6.    You Can’t Get Fired. This is a great reason in itself. In the self-employment world you can’t get fired! You can change your mind about certain business opportunities, but that would just be shifting the focus of your business, you’d never be firing yourself. This takes a certain amount of burden off your shoulders because you don’t need to worry about someone suddenly taking away your income just because of cutbacks even if you’re doing a superb job.

Remember that there’s always a certain amount of risk associated with making a major change in your life. It’s never easy when it involves income and the future of your family. However, if you want to be your own boss, you can certainly do so. It may end up opening many doors to better your financial future.

Author’s Bio:

Ever wondered how great successful people achieved great success? You can find the answer in The 77 Traits of Highly Successful People. Mark Foo has brought together 48 personal development bloggers and writers to co-author the success eBook that spells out all of the success secrets of the very successful people. This eBook is available to you FREE and you can grab your free copy now at http://www.77SuccessTraits.com.
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How many times have you sat in rage-inducing, morning rush hour traffic, cursing your boss for making you come in early to finish that report, when clearly you would have already had the report finished if you’d only been allowed to write it from home instead of sitting in this car!?

How many times, distracted by your coworker, whose high-pitched laugh while regaling her BFF on the phone about a ‘hysterical’ new Facebook post, have you cringed thinking to yourself, if only I were working from home I wouldn’t have these distractions!

How many times in a week do you find yourself thinking, if only I could work from home I would be so much more productive!

Well, according to last months’ Time Magazine – The Future of Work issue, more and more employees and employers are opting for new and innovative ways to redefine the workplace, the most common of which, is changing it – more specifically from your office to your home. And while I hear upon writing this, a chorus of working stiffs belting out Hallelujah!, before you jump into your new way of life (conference call in your pajamas, anyone?!) – a life free of stress, bureaucracy, and office politics – I caution you to remember the old adage: Be careful what you wish for, you just might get it.

While without question, if done correctly, working from home will yield more productivity, less wasted time, and generally improve your quality of life, if done incorrectly you will see the exact opposite happen to the point where your job itself, may be threatened. And with the exuberance of being ‘free’ there is the risk that you will throw yourself into your new situation, without proper preparation. Simple upfront planning will ensure your success and increase your satisfaction factor.

1. Discipline: This is the single hardest part of working from home. Looks easy from your crowded cubicle, but simply not true. First you must honestly ask yourself what kind of person you are: Are you the type of person that works better in a structured environment? Or do you thrive with this type responsibility? Remember once you’re working at home there’s no rush hour and no pesky coworker to blame: your performance will be judged solely on you. If you are going to work from home, understand you’ll have to be ruling yourself with a stiffer fist. The general rule of thumb that I’ve found works is: If you wouldn’t do it at your old office (i.e. take 5 calls from Francine about her blind date last night) don’t do at your new office. I have found that the transition from office to home office is made significantly easier if you start working from home on a part time basis, and then gradually make the transition to full time from home.

2. Scheduling: One of the most important and overlooked aspects of working from home is creating a schedule. Just because you’re not required to be somewhere at 9 and can’t leave until 5, doesn’t mean you shouldn’t have a firm schedule. It is absolutely necessary to write out a weekly schedule for yourself – and stick to it. Working from home can come with many distractions – i.e. all of a sudden that bookshelf you’ve avoided for weeks needs to be dusted right now – and if you aren’t strict about your working hours they will quickly escape you. One of the other pratfalls is that when working from home there is no limit to how much you can be doing – theoretically you could be working 24 hours a day. So it is important to make clear guidelines about where your time will be spent everyday.

3. Create the appropriate space: When working from home, one of the big challenges is keeping your ‘home’ life from your ‘work’ life, otherwise with time both worlds will blur into one, leaving you feeling like you’re always working and never living. If your space allows it, designate one room to be used specifically and ONLY for your office – while it would be more comfortable to sit on your couch writing that report (like I am right now…horrible, horrible, horrible!) it is important to have a concrete spatial divide. If you don’t have the space available, craft out a corner which again is reserved for ‘work’ time only.

4. Separating work from home: Building on creating different spaces, your entire work practice should be separated from your living practice. Though at first it might seem sooo productive to be doing your laundry while taking a conference call, it’s actually not, and most probably both tasks will suffer as a result. Use the time you have allotted to work, to work, conversely use the time you’ve allotted for personal chores, for personal chores. It is also a good idea to get out of your house on designated breaks, i.e. lunch, afternoon break. Go for a walk around the block or eat your lunch outside. Being trapped in your house day and night has many negative long term effects, both personally and professionally.

5. Staying Connected: Just because you’ve said Hasta La Vista to your office, doesn’t mean you should say the same to your colleagues. One of the bigger risks of working from home is becoming isolated and out of the loop. Make the effort to reach out to colleagues you have a good rapport with – suggest a group happy hour drink/coffee once a month. Most jobs and careers still benefit from making connections and having in person relationships. Meeting up once a month will keep you abreast of relevant insider information that will invariably help you in the long run.

Got any working-from-home advice or stories that can help? Please feel free to comment below! (Only if you’re on a break!!)

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