A recent report by an organization called A Commitment to Training and Employment for Women (or ACTEW) stated that most work-at-home moms face financial insecurity. Although the majority of home-based businesses are run by women, compared to home-based businesses run by men, the women usually don’t earn as much as their counterparts. In addition, the report says, “Many own account self-employed women work part-time, have low earnings, have little or no access to training and are ineligible for government benefits and insurance programs…” These facts paint a gloomy picture of women in home-based businesses.
A Growing Number of Women in Self-Employed Businesses
Still, the growing number of women in self-employed businesses in recent years far exceeds the increase in the number of men who are doing the same. It’s obvious that home-based businesses have a lot of appeal for women who would like to spend more time at home with their children and earn at least a supplemental income. Despite the risk of failure, poor remuneration, and long hours that are involved, home-based businesses are still a good solution for many women, moms in particular.
Time for Business and Family
So what’s the difference that sets apart the winners from the losers when it comes to running a home-based business? What’s a mom got to do to be able to pay the bills and be there for the children? Is it even realistic to think that a mom can do both? Or is it just an impossible dream?
What Successful Entrepreneurs Do Differently
There are several things successful home-based business people seem to have in common. Really successful home-based business owners:
- Love what they do and are sold on what they sell.
- Know how to work smart.
- Understand that money doesn’t buy happiness and therefore they make large time investments in family and friends.
- Get satisfaction from helping others succeed.
- Are nice people to be around.
From this list, it’s apparent that money really isn’t everything, but often good money follows when a person is in business for more important reasons than making money.
5 Tips for Running a Successful Business From Home
- Choose a business or product that fits. When a person loves what they do, it shows and success often follows.
- Figure out how to make the most of the time, energy and resources invested in the business. Analyze others in the business and find a better way to get the job done. Work smart.
- Make time for what’s most important. On average, most people change jobs several times during their lifetime. A job, even a home-based business, may not be around a decade from now, but family and friend will if time is invested in them.
- Competition can be stressful. Why not find work that helps others succeed as well? There are intrinsic rewards in work that helps others.
- Success loves company. Like any business, a successful home-based business is built on a good reputation. Take the time to be courteous to everyone, not just paying customers. Many successful businesses have gotten that way by word-of-mouth advertising.
Though many home-based businesses fail early on, studying successful home-based businesses can help a beginner learn the characteristics that foster success. Make a plan that includes these strategies to improve the chances of success.
See also, Finding Time for Home Based Business
Tammie Burak - A former elementary school teacher, Tammie Burak traded in her daily commute for a classroom at home where she now homeschools her own ...
