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Quotes from : Entrepreneur.com
Image Via : SmallBizPod
With oil prices rising so high, companies have begun to seriously think about implementing a four-day work week to cut down on operation and transport costs. If this somehow becomes a reality, then what you have is a big chunk of time that (if you're smart) you can put to good use. One of the best ways to help your family is to consider starting a home based business.
You don't have to wait until you have a 3-day weekend to consider the many opportunities around you. Most home-based entrepreneurs started out on regular two-day weekends, and built their businesses to where they could leave their day time jobs.
Sure, it may be a challenge - you still have to devote your time to your family and social commitments, so we went to Jeff Sloan, co-founder with his brother Rich Sloan of StartupNation LLC, an online outlet for starting and growing a business, and co-author of StartupNation: America's Leading Entrepreneurial Experts Reveal the Secrets to Building a Blockbuster Business, to get the dos of starting a weekend business. Listen up.
- DO start part time. Using your evenings and weekends to build a business while keeping your day job is a great strategy. The accessibility of technology and the end of homebased business' stigma means starting part time is now a more viable option than ever.
- DO be efficient with your time. If you're interested in real business success, it's important to be completely focused during the precious little time you have to spend on your business. "
- DO determine your weekend business goals. Ask yourself: Do you want your business to be a hobby business? Do you want the business to provide a living for you and your family? Making some specific goals will help you plan and target your efforts.
- DO eliminate distractions. Setting up a private, dedicated space in your home for work-free it from distractions like TV or boisterous youngsters.
- DO strive for balance. Before you even create your business plan, says Sloan, create your life plan-then you'll see where your business fits on your list of priorities. "It's really important to have the discipline to create a balance," he says. "And make sure you don't forget other priorities."
And to balance things out, here's a list of 5 Don't for the weekend entrepreneur :
- DON'T skimp on technology. Because you're not there to fix problems right away, invest in top-notch technology (website, e-mail, fax, phone, etc.) to keep things running smoothly when you're away.
- DON'T treat the business casually. Part time doesn't mean half-assed-if you're serious about starting a weekend business, you still need to deal with all the elements of startup: incorporation, taxes, legal issues, employees and insurance, for starters.
- DON'T advertise your part-time status. But you needn't lie about running a part-time business, either. The truth is, customers don't care if you're part time as long as their needs are met.
- DON'T take on too much business. More isn't always better-especially when you're working under a tight time crunch.
- DON'T be unprofessional. To build your weekend business, make sure your marketing materials (business cards, stationery, brochures, etc.) are all highly professional-looking.