The Home Based Business Phobia: An Analysis
People who start home based businesses often worry about the financial practicality of operating a brick and mortar business. They worry about not being able to make enough money, getting robbed, or not having quality customers. This is known as the home business phobia.
In this blog post we will be discussing these worries in relation to the primary cause of these fears:
The lack of knowledge concerning modern day entrepreneurship and self-employment.
As well as providing solutions for overcoming these fears through learning more about entrepreneurship and small business management techniques.
The definition of home based business is: A business or home-based business owned and operated by an individual.
There are three different types of home based businesses:
Charity Home Business: This is when a person operates a home based business in order to raise money for charity. For example, some people work at a local thrift store, selling goods they own to raise money for charity. This type of charity home based business is considered to be charitable donation because the owner is making a profit on the item being sold. Also, the owner isn't making any profit by selling it because the goods were either purchased with earned income or other goods gifted from other people. Additionally, the owner isn't selling the items for much because they are selling them for something less than what they paid for them. For example, if a worker was paid $5 for a sweater and was able to sell the same sweater for $10, the worker would only make a profit of $5. This is considered to be profitable when combined with other possible ways of earning money such as having other jobs or rent. Since this type of charity has financial benefits it should be considered a business.
Home Based Business: This type of home based business consists of being your primary source of income and possibly other work you do at your home. For example, if a person works by day as a computer technician and has the ability to work in their home office at night, that would be considered a home based business. Another example of this type of home based business is when someone creates their own website or forum and charges users to join. The goal of both these situations is to make money by providing goods or services. Since this type of business is making money by providing goods and services it should be considered a business.
Home Based Employee: This occurs when a person operates out of their own home but does not have the ability to set his/her own hours. This means that the boss has ultimate control over when and how long the employee works at his/her job. For example, if a child cleans the house for their parents during the week, that would be considered a home based employee. Their boss tells them when and how long to clean the house.
The lack of knowledge concerning modern day entrepreneurship and self-employment is a significant problem. It prevents people from being able to determine whether or not starting their own business is good idea or not. For example, many people worry about getting robbed while they are operating in their home based businesses. The fear of getting robbed drives many people away from operating in their home based businesses because they fear losing money or being robbed. While it is true that people who operate in their own home are more vulnerable to getting robbed, it is also common knowledge that a person is more likely to get robbed while driving around because they are out in public, not at home.
In order to overcome these fears, there are a few things that can be done. First the person needs to be educated about the statistical likelihood of being robbed. Then he/she should find out where most robberies occur and what day of the week it is most likely for them to happen. This will help them determine whether or not operating in their home based businesses is putting them at risk for robbery.
The next thing that can be done is learning more about entrepreneurship and small business management techniques. This is a necessary step in order to successfully run a home based business. There are several different ways to learn more about entrepreneurship:
Here are some of the resources available for people who wish to become self-employed:
Additionally, there are many books written on the subject such as these:
Here are some videos created on the subject of small business management:
Once they have been educated on these concepts, they should continue to research other potential options such as finding support groups with other home based business owners. This will allow them to network with other people who will assist them by providing guidance and advice. Also, they should continue researching as much as possible about different ways to run a home based business. This will allow them to determine which business is most appropriate for them.
The best way to overcome one's fears is by challenging themselves. For example, if a person was afraid of heights, they could purposely put themselves in situations where there was a high likelihood that they would be exposed to heights such as climbing up a mountain or going on many roller coaster rides. This way they are exposing themselves to their fears in small increments until they are used to it and no longer afraid of it. Once the person is comfortable with operating in his or her home based businesses, they will no longer be afraid to operate while they are at home.
The following is an example of a microbusiness:
Profit from your time and skills. Schedule your time and make use of it! For example, you can sell items on eBay or Amazon, produce toys for sale in specialty stores, eat out everyday, run a blog and sell ebook products to earn extra cash for other businesses. If you have more skills that can be put to use like computer repairs, artistry or photography then look into starting your own business as a side hustle.
The following are examples of the types of businesses small business owners can operate:
Small Business Administration:
http://www.sba.gov/small-business-information/starting-your-own-business.
http://www.sba.gov/topic/small-businesses?expand=home_topics
Examples of home based businesses:
https://www.forbes.com/sites/jennyherbstman/2014/03/03/how-to-make-money-as-a-graphic-designer/#14dc8995d5dd
https://www.thebalance. com/home-based-jobs-business-ideas-starting-a-home-based-business-1517656
https://www.forbes.com/sites/daniellepeterson/2017/02/07/this-isnt-a-sidehustle--itssmartwork/#4b9c92e8eace
https://www.inc.com/magazine/20180701/communitysolutionsto2bproblems
Conclusion:
The internet has been a source for many people to earn money, but it is important to understand the various ways that it can be done. You don't have to be an expert at something, but being able to use the proper resources such as the Internet is essential, as well as learning how to incorporate online selling into your business plan.
Business Opportunities
https://www.forbes.com/sites/susanmcquillan/2016/03/16/20-ways-to-market-yourself-online/#7b89ec9d6e76
http://www.entrepreneur.com/article/227848
https://www..