What are the Chances of Failure?

Before you start any kind of business you’re probably going to think about what the odds are that your business is going to be successful. Nobody wants to invest time and money into a business if it’s just going to fail. So when I talk to people about starting their own home based business often the first question that they ask is. What are the chances of me failing and not making any money at all? Or even worse, what are the chances of me losing money in a home based business?

I can tell you from personal experience that the rate of failure in a home based business is about the same as the failure of a traditional brick and mortar business. The main difference is that since the cost to get started in a home based business is much much less than a traditional business… A) more people get stared in some sort of home based business vs. a traditional business and B) people are generally far less invested in a home based business and therefore don’t take it as seriously as they need to to succeed.

Let’s talk about B for a second. I firmly believe that the low cost of start up in a home based business is the biggest blessing and curse there is. It’s great because people who don’t have a lot of money to invest in a business can start their own working business for less than $1000 (usually) and it gives almost anyone the chance to make something of themselves. It’s bad for that very same reason. People tend to work less hard and take the business less seriously because it was so cheap and easy to get started in.

Out of all the people who want to work from home. The people who are successful are the people who treat their home based business like a REAL business (because that is exactly what it is) and the people who fail are the ones who treat it like a hobby or a little get rich quick scheme. (which it defiantly is NOT!)

So if you are willing to take your home based business seriously, and work it just like you would a real or “traditional” business your chances of failure are very, very slim. 

How to Talk to Coworkers About Your Business

Of everyone that you know co-workers might be the hardest to talk to about your home based business. It can be frustrating to work along side people who would be great in your business but you aren’t sure how to approach them about it because you don’t want to get in trouble at work. So how exactly do you go about talking to the people you work with about your home based business without becoming a laughing stock or worse getting in trouble with your boss? Here are a few tips that should help you out when talking to co-workers.

1. Keep It Casual

Don’t come storming into your workplace talking about how your going to be out of there in a few months and go into a huge sales pitch. Try to keep everything as casual as possible. It’s totally fine to mention that you’re doing something part time from home and talk about it with your co-workers just as long as the boss doesn’t think you’re trying to take their entire office away. Keep any talk of your business light, fun and casual at work and most people won’t mind.

2. Don’t Pass Anything Out

It’s usually a good idea not to bring any flyers or brochures to work with you. Anything that could get passed around is generally not a good idea.

3. Make It Clear That You’re Not Leaving

Whenever you’re talking about your home based business try to make it clear that you’re doing it part time to make more money for yourself and your family. You don’t have to tell anyone that you’re thinking about leaving once you become more successful. You don’t want to get passed over for a promotion or a raise because your boss thinks your leaving the company in a month or two. It takes a while to build a business so don’t let everyone at work know you’re halfway out the door until you’re really ready to leave.

4. Do It Outside Of The Office

If you want to talk to someone in greater detail or you want to single someone out who you feel would be a really great fit for your business. Try doing it somewhere out of the office. For instance on a lunch break or after work over a few drinks. When you’re out of the four walls of your actual office building you’ll be able to speak much more freely and without the fear of consequences.

If you follow these four tips you should be able to speak to your co-workers in a way that is appropriate for the workplace.

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