Like any activity you pursue, there are certain musts that are required to be successful in a
chosen activity. To legally operate a vehicle on public roadways, one must have a driver’s
license; to excel in sports, one must train and practice; to retire comfortably, one must become
an informed investor and actively invest for retirement. If your goal is success in business, then
the formula is no different. There are certain musts that have to be fully developed, implemented
and managed for your business to succeed. There are many business musts, but this article
contains I believe to be some of the more important musts that are required to start, operate and
grow a profitable home business.
1. Only do what you enjoy.
What you get out of your business in the form of personal satisfaction, financial gain, stability
and enjoyment will be the sum of what you put into your business. So if you don’t enjoy what
you’re doing, in all likelihood it’s safe to assume that will be reflected in the success of your
business–or subsequent lack of success. In fact, if you don’t enjoy what you’re doing, chances
are you won’t succeed.
2. Always Plan everything.
Planning every aspect of your home business is not only a must, but also builds habits that every
home business owner should develop, implement, and maintain. The act of business planning is
so important because it requires you to analyze each business situation, research and compile
data, and make conclusions based mainly on the facts as revealed through the research.
Business planning also serves a second function, which is having your goals and how you will
achieve them, on paper.
3. Learn to manage money wisely.
The lifeblood of any business enterprise is cash flow. You need it to buy inventory, pay for
services, promote and market your business, repair and replace tools and equipment, and pay
yourself so that you can continue to work. Therefore, all home business owners must become
wise money managers to ensure that the cash keeps flowing and the bills get paid
4. Become a self-promoter (without becoming arrogant).
One of the greatest myths about personal or business success is that eventually your business,
personal abilities, products or services will get discovered and be embraced by the masses that
will beat a path to your door to buy what you are selling. But how can this happen if no one
knows who you are, what you sell and why they should be buying?
Self-promotion is one of the most beneficial, yet most underutilized, marketing tools that the
majority of home business owners have at their immediate disposal.
5. Always Project a positive business image.
You have but a passing moment to make a positive and memorable impression on people with
whom you intend to do business. Home business owners must go out of their way and make a
conscious effort to always project the most professional business image possible.
6. Level the playing field with technology.
You should avoid getting overly caught up in the high-tech world, but you should also know how
to take advantage of using it. One of the most amazing aspects of the internet is that a one or
two person business operating from a basement can have a superior website to a $50 million
company, and nobody knows the difference.