Are You Poised for Growth as a Home-Based Business Owner?

Written by Laurie Hayes

Whether you're fairly new as a home-based business owner or if you have been one for several years, your business growth is highly dependent on your continued personal growth and industry-relevant learning.

You may have your daily functions and business operations down to a science, but in order to continue moving onward and upward, you need to continue developing and learning new skills and gathering knowledge that will keep you current, relevant and stimulated.

The world around us (human development/technology/innovation) is growing and advancing at an alarming speed and inrepparttar blink of an eye you can be yesterday's news instead of today's headline or tomorrow's superstar if you don't do your part to progress as well.

The industry you are working within may evolve, expand, grow smaller or transform and you need to be ready when that happens. You need to be aware of your industry's position inrepparttar 147698 marketplace and cognizant of where it is heading.

Paying attention to your industry's standing and mindful of future trends will allow you to make decisions that will support strategic action and position you for continued growth and success.

To conduct business withrepparttar 147699 assumption that once change occurs, you will makerepparttar 147700 necessary adaptations could be detrimental to your business, possibly devastating.

You want to operate proactively, not reactively; otherwise, you may be left behindrepparttar 147701 pack, or worse yet, completely out ofrepparttar 147702 race.

The Business Failed, But Did You?

Written by Tim Knox

Q: After years of dreaming about starting my own business, I finally tookrepparttar plunge a little over a year ago. To sayrepparttar 147692 least, my dream quickly became a nightmare. The business didn't do nearly as well as I had hoped. I ran out of money within six months and had to take out a second mortgage on my house just to keep things going. I have now closedrepparttar 147693 business and am left with a pile of bills that will probably put me in personal bankruptcy. I don't mean to take it out on you, but instead of telling people how great having your own business is allrepparttar 147694 time you should also warn them that starting a business is not easy and can be devastating when things go wrong. -- Gene K.

A: Gene, I hope that I have never given anyonerepparttar 147695 impression that having your own business is a walk inrepparttar 147696 park. Torepparttar 147697 contrary, I'm likerepparttar 147698 proverbial Chicken Little when it comes to warning readers ofrepparttar 147699 obstacles and pitfalls that await those consideringrepparttar 147700 entrepreneurial plunge.

To quote myself from a column I wrote earlier this year, "If it was easy, my friend, everybody would do it."

Just to make sure we're in agreement, let me reiteraterepparttar 147701 standard warnings once again. Starting a business is incredibly hard work. It takes long hours and deep pockets. It demands unbridled passion and unquestioned commitment. It requires that you give of yourself until you often feel there is nothing left to give. And sometimes, even after you've done all that you can do and given all that you can give,repparttar 147702 business fails.


Blood, sweat, and tears can only carry you so far inrepparttar 147703 business world. Good intentions and grand ideas won't payrepparttar 147704 office rent. You can not make payroll with Monopoly money.

I certainly don't mean to make light of your situation. In fact, I know exactly how you feel. I failed so miserably my first time in business that I swore I would never think about working for myself again. All I wanted to do was to find a nice, secure 9-to-5 job that provided me with a nice steady paycheck. I yearned forrepparttar 147705 opportunity to grow fat and happy on someone else's payroll for a change.

I never again wanted to have to think about customers or employees or withholding taxes or accounts receivable or anything else even remotely associated with being in business.

I just wanted to crawl in a hole and die because my business had failed, and in my All-American, macho male, "you are what you do" brain that meant that I was a failure, too.

Getting overrepparttar 147706 failure of a business can be extremely difficult, especially if you are one of those entrepreneurs (like I was) who wrongly relatesrepparttar 147707 success or failure of a business torepparttar 147708 success or failure of you as a person.

The best way that I know of to get overrepparttar 147709 failure of a business (andrepparttar 147710 deep feelings of personal failure that go along with it) is to do an autopsy ofrepparttar 147711 business to help find out exactly what went wrong. Only by discovering our weakness can we build on our strengths (Yogi Berra eat your heart out).

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