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Challenges of starting your own home business
22 October 2020

When you venture out into your own home business, it is like diving into the deep end of a swimming pool. If you did not do your research thoroughly, it would be like diving in without knowing how to swim and without any floatation devices to help you keep afloat.

Before you decide to start your own home busiess, you should know some of the challenges that might come your way.

Work around the clock

When you start your home business, you will work around the clockYou will not be following your normal work schedule of 9-5 anymore. You must be prepared to put in far more hours into your business at home than when you work a 9-5 job. At your 9-5, when it is time to leave, you pack up and go. When you're at home, it is so much easier to just continue working and sometimes (actually most of the time) you have so much more to do that you just want to do this and that before you end your work day. You will live, eat and breathe your home business 24/7.

People might not take your work seriously

Challenge of starting your own home business is people might not take you seriously

Like when people ask you what you do for a living and you answer that you have a home busines, they might automatically think that you have loads of free time. They could think that your home business is not a real job. Prepare yourself for the snide comments that might come your way or them trying to find you a real job.

Personal Sacrifice

Starting your own home business takes personal sacrificeYou must be prepared to sacrifice personally when you want to start your own home business. Expecting to have loads of free time and raking in lots of cash is a massive misconception. Thinking that you will have loads of time to spend with family and friends, another massive misconception. Having your own home business is the exact opposite. It is going to be difficult to balance between your family and your work. If you don't get the balance right, then either your work or your family suffers. Your kids will say you are always home, but never there for them... Because you are always busy with more tasks than you can handle, which brings us to our next point.

You do everything

When starting your own home business, you'll be doing everything
Where at your 9-5 job you are getting paid to do your job, which is something you can do and specialize in, when you have your own home business, you have to learn new skills to be able to do everything. You are essentialy your own boss, but you are your own worker too. Until your business starts showing profits and you must be prepared to do everything on your own. This can take months or even years. This can be anything from social media, video ads, creating social media posts, book keeping, taxes, etc. All the things related to business.
You can however consider hiring someone to do a certain job for you. In this case, you don't have to pay them a salary, you just pay them for the job they do for you and you continue with the rest. You can take a look at everything we offer at MajestiX Studio to help you, instead of learning new software from scratch, we can take some of the workload off. Or if you don't have time to create your video ad, we can do it while you continue with other tasks.
To top this all off, you are responsible for the household duties as well, like cleaing, cooking, etc, which can make it so much more difficult because just when you're in the middle of something important, you have to stop to attend to a household task. People will also not understand if you don't get to everything because you are home all day.

Distractions and Interruptions

Distractions and interruptionsYour family will make sure that you have your fair share of distractions and interruptions when you work from home. You may have children running around the house, screaming for attention. Friends and relatives may keep calling or messaging because they think you are sitting around, doing nothing and that you have loads of spare time. Sadly, these distractions slow down your work progress and makes it harder to focus on the task at hand. 

Learn new things daily

Learn new things dailyWhen I first started my own home business in 2012, I quickly learned that you learn new things daily. And it has never stopped. There is not a day when I learn something new. You must prepare yourself that you are going to learn and learn and learn. The sooner you realize it, the easier it will become. Change your attitude from "Oh, now I have to learn something new again," to "I love learning," this will make it easier. 
You have to learn about marketing, maybe how to  use Photoshop to be able to better your designs, and oh, so many things. Some are easy to learn, like Canva, which I use to create these blog post images. Other a bit more difficult.
Here at MajestiX Academy we created courses to help you learn faster and move forward in your business success. You can also check out Udemy for courses in anything you want to learn. Check out my video on how to find a free course. Although this video shows you how to find an amazing free photoshop course, the same principles apply.

Accept that you might fail

Accept that you might failFailing is never the end. Since I started, I've had some websites that I worked on super hard, sometimes even days and nights on end that just did not work out. Some websites, like my print on demand shop (Printing Infinite Gift Ideas) I still have. But for instance my dropship shop I let go. It does not mean that dropshipping will not work for you, it just did not work for me. I did not like having no control over the stock that came from the factory. But if you don't like that either, you can even order the stock and ship it yourself. There are lots of people making a killing online with their eCommerce stores. Not sure what it is or if it will work for you? Check out our eCommerce Course. 
I've had many sites that I let go just because for a year or two they cost me more money than they made. All the hard work gone...Lost forever. They say fail fast, get up fast and try again, fast. If one thing does not work, move over to the next one.
But always remember, persistence is the biggest key to success.

Conclusion to challenges of starting your own home business

Never think that setting up a home business is going to be easy money. You are going to work hard for every single dollar that you make. But please, don't be disheartened, it may sound difficult and it might be, but persevere. Set and work towards your goals to achieve your dream and your home business can turn into a financially successful business.

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July 17, 2018
05:45 PM
July 17, 2018
05:45 PM