3 Mistakes Home Business Owners Make

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3 mistakes home business owners make

When we returned from a 3 year posting in Italy, I decided to become an entrepreneur and work from home so that I could have time flexibility around my kid’s schedule.  It sounded like the perfect business, but there was one problem, I had no idea how I was going to replace my previous corporate job income.  Shortly after, I found out the 3 mistakes home business owners make!

My success certainly didn’t come without struggles.  There were times I wanted to give up, quit and take a job, but it came back to my original intention.  That meant, I had to work really hard on the right mindset and banish my limiting beliefs, if I was going to make this perfect business happen.

Effort only fully releases its reward after a person refuses to quit. ~ Napoleon Hill

If you’re a home business owner like me, you know that we face a different set of challenges than other business owners.  Even though these challenges do come with amazing opportunities, we do need to know how to deal with them to be successful.

These are the 3 mistakes home business owners make that I needed to address so that I could get better results.  Do they resonate with you?

Lacking Long-Term Vision

Running a successful home-based business requires long-term vision.  If you don’t know what your goals are and how to reach them, you will spend a lot of time just trying to figure things out.

However, by asking yourself what you want to accomplish in one, five or even 10 years, you can begin to develop long-term vision.  Think about what you want your business to look like, without worrying about challenges yet, and define your goals.

Then, you’ll be able to create a strategy that gets you where you want to be.

As you develop your business, make sure everything you do contributes to these larger goals.  Don’t get sidetracked with projects or tasks that won’t bring value to your business.

Treating the Business as a Business

It’s easy to fall into the trap of viewing your business as a side project, a hobby or as a casual plan.  This is one of the biggest mistakes new business owners make.  If you want your business to be successful, you need to treat it like a business.

This means committing to it every day, making savvy decisions, investing time and money into your business and doing things with purpose.

One major way to do this is to track your efforts.  I use spreadsheets to track my income producing activities and results.  Remember, metrics matter.  This is a simple way to become more effective and grow your business.

As you focus on your business, don’t treat the projects, tasks, and goals lightly.  It can be easy to postpone deadlines,  When you treat your own business seriously, others will too.

Putting time and effort into creating a website, networking and promoting your services will help you build a brand that others respect.  When people take your business seriously, you will land clients and make a bigger profit.

Time Blocking The Calendar

You will need to dedicate some time to your business.  It can be challenging, but when you block time to focus, it becomes easier to get results and more success.  My team and I love doing power hours together over zoom!

I recommend the use of a calendar and actually mark out times you will spend working.  When you purposefully set aside time to work, you will be more productive.  You’ll meet your business goals, move forward with projects and your business will flourish.

So, don’t wait any longer.

Address these 3 mistakes home business owners make and your business will grow like crazy.  If you need help with a simple strategy for your business, grab a virtual meeting with me here.  I’d love to help.

From my very first day as an entrepreneur, I’ve felt the only mission worth pursuing in business is to make people’s lives better. ~ Richard Branson



About the author 

Deborah MacDonald

After almost 25 years as an entrepreneur, I continue to grow my business, my passive income streams and my wealth. And now I mentor others on their wealth journeys by teaching them how to fund their own freedom lifestyle.

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