Advertising
Advertising

9 Mistakes Most Home Business Owners Make

9 Mistakes Most Home Business Owners Make

Are you a home business owner or thinking about working for yourself and starting a home based business? If so, then you have to read the following mistakes that most home business owners make. These mistakes can cause many home businesses to fail within the first year.

1. They Treat Their Job As A Hobby

Most people who want to start a home business are looking for an escape of the daily grind. Of course the idea is awesome, but you need to keep in mind that a home business still takes a lot of work. If you are going to treat your home based business as a hobby, then you might as well keep your day job, because you won’t be making a lot of money to cover your bills.

Examples of treating business like a hobby:

– Sleeping in instead of waking up on time.
– Not completing all of the scheduled tasks.
– Going out with friends during set work hours.

2. They Don’t Dress For Success

There are so many people who say how great their home business is because they get to work in their pajamas. Sounds awesome, right? Wrong! Dressing up for success and putting on clothing that you would wear to an outside of home job set the tone for the day. Pajamas and messy hair set the tone of lounging and not being productive.

If your body and mind are in a relaxed state, then it’s likely that you won’t complete your tasks. No work means no pay, so get dressed for success.

Advertising

3. They Don’t Set Hours Of Operation

For most people, it’s hard to keep up with daily tasks and chores. Throw a home business into the mix and the schedule gets extremely crazy. Not setting hours of operation is the biggest mistake a home business owner can make.

Instead of randomly working throughout the day, take a look at your schedule and figure out how many hours you can work per week. Then, divide those hours into the number of days of the week that you are planning to do your work. Once you’ve figured out how many hours per day you are working, set specific time frames. If you have blocked off 8am to 1pm, then do not do anything else but focus on your work during that time slot. Of course, schedule your break time as well. Try to take about 10-20 minutes every hour to sit back, relax, take a restroom break or drink some water.

Tip: set your alarm for the time you start and finish work, as well as for all of your breaks in between.

4. They Don’t Set Goals

When a business owner doesn’t set any goals, a home business is doomed to fail. Goals help business owners be focused on tasks. Without goals, they are in the dark about how to run the business, what to do next, and how to reach their full potential.

Every home business owner should set short and long term goals. The short term goals will help to understand exactly what needs to be done each day/week and long term goals will give home business owners a vision and a passion to work towards something great.

Examples of specific short term goals: 

Advertising

– Write 2 blog posts per week.
– Share business with five new people per week.
– Sell X amount of products per day.
– Interact with customers on social media daily.
– Read 10 pages per day.

Examples of specific long term goals:

– Earn X amount of money this year.
– Add X people to my mailing list this year.
– Read 10 personal development books this year.

5. They Don’t Separate Work Time And Family Time

If you are a family man or woman, then setting work time and family time is extremely important. There is time for work, there is time for play, and there is time for family. Not separating these different times can lead to a lot of stress and discontent, both for you and for them.

Your family has to understand that when you are scheduled to work, you have to work. Share your schedule with them, so they know exactly when your working hours are. Similarly, when your working hours are over, don’t go running to your computer or making business phone calls.

6. They Don’t Provide Value

Many businesses fail because they constantly advertise, but don’t provide any value. Of course a big part of any business is to advertise and sell products, but in many cases it’s even more important to provide value to the customers.

Advertising

Customers are looking for answers to their problems. They are seeking someone to relate to them and show them how their problem can be solved.

Here are a few of ways you can provide value to your customers: 

– Give away a free e-book.
– Shoot a series of “how to” videos and give them away for free.
– Post something useful or inspirational to your blog or Facebook page.
– Ask questions and then answer them in timely manner.

7. They Don’t Grow A Social Network

Any business without a social network is likely not to survive for too long. A good social network is the bread and butter of a home business. A lot of new business owners are scared to get into social media because it’s a new frontier for them.

The more people you know and can share your product information with, the faster your business will grow. The best way to get to know people is to get on one or a few of the social media websites like Facebook, Google Plus, LinkedIn, Twitter and Pinterest. You can even give out your social media profile information to local people, so they can add you or friend you online.

You wouldn’t call all of your customers to remind them about sales, to give them coupons, or provide them with value on daily basis. Yet, you can easily do all of these things if you are connected to them on a social network, which means more sales for you.

Advertising

Adding all of your contacts to an autoresponder, such as Aweber, will increase your reach even more because you will be able to deliver your messages straight your customer’s mailboxes.

8. They Don’t Create A Business Website

Although not all home businesses will fail without a website, it’s very hard to grow a business without one local place where all of your your products and services can be previewed. A website can bring new customers who live outside of your town, outside of state, and even outside of your country.

A business website can give you the following advantages:

– Display your products and services.
– Help customers find you on a social network.
– Provide value through blog posts.
– Give away your digital products.
– Capture your customers’ email addresses.
– One local place to send everyone to for more information.
– Access to non-local population.
– A website can work for you 24/7, even while you are sleeping.

9. They Don’t Keep Track Of Their Expenses

Last, but not least, business owner who don’t track their expenses usually fail at running a home business. A lot of people put way too much money into a business, but don’t cover all of their costs by selling products and services. Knowing how much money goes out and comes in is crucial to sustaining a profitable business.

Additionally, every home business owner can write off business expenses. If you don’t keep track of how much you are spending, you may be losing tax money at the end of the year. There are a number of different software and apps out there that you can use to track all of your expenses. Simply type “business expense tracker” into Google and you will be able to find different options that will fit your budget or even be free.

Featured photo credit: elegant business multitasking multimedia man using devices at home via shutterstock.com

More by this author

40 Incredible Home Life Hacks That Will Simplify Your Life 7 Monday Morning Habits Of Highly Successful People 9 Mistakes Most Home Business Owners Make

Trending in Productivity

1 5 Key Traits of a Charismatic Leadership 2 How to Overcome Your Resistance to Change for a Better Self 3 How to Develop Mental Toughness And Stay Strong 4 13 Work Life Balance Tips for a Happy and Productive Life 5 How to Delegate Tasks Effectively (Step-By-Step Guide)

Read Next

Advertising
Advertising
Advertising

Last Updated on December 2, 2019

How to Develop Mental Toughness And Stay Strong

How to Develop Mental Toughness And Stay Strong

Are you the kind of person who wants to achieve massive success in your life? Do you have the mental toughness to make that happen?

I think we can all agree that no matter your ambitions, achieving success can be difficult; and over time, the daily grind can take a toll on your physical, mental, and emotional energy.

Achievers and high performers from all walks of life face ups and downs along the path to success—they face failure, burnout, discouragement, fatigue, self-limiting beliefs, stress, and so much more.

How do some people continually strive towards their personal goals year after year while others give up on them? How do those people stay strong and persevere when there is so much stacked against them?

Studies now show that mental strength is a critical key to success. If you haven’t read Angela Duckworth’s book Grit, you should. In it, she shows that “the secret to outstanding achievement is not talent but a special blend of passion and persistence she calls ‘grit.’” In other words, mental toughness plays a significant role when it comes to achieving goals.

Sometimes, our goals wear us down and leave us feeling exhausted. Other times, our goals get difficult, and success seems impossible, so we lose hope, become discouraged, and want to quit.

At its core, mental toughness is simply the ability to stick to something when the going gets tough. People with high levels of mental toughness can push beyond these obstacles and forge a path towards success while those with lower levels of mental toughness may abandon their dreams.

Want to know the good news?

No matter who you are, what you’ve been told, or what you currently believe, you can develop the mental toughness you need to be successful.

All you need to do is learn to develop a positive mindset, focus on your why, and utilize the people around you for support.

1. Develop a Positive Mindset

If you’re going to increase your mental toughness, the first thing you have to do is focus on building a strong, positive mindset.

According to the Cleveland Clinic, the average person has 60,000 thoughts per day. Of those, 95% of those thoughts repeat each day and, on average, 80% of repeated ideas are negative.[1]

That’s roughly 45,600 negative thoughts per day!

Carrying around these negative thoughts is like going on a hike in the mountains with a backpack full of rocks. The hike is hard enough on its own, but having extra junk weighing you down is a recipe for failure.

Sometimes, building mental toughness isn’t as much about building new strength as it is about saving your strength for the right tasks. Wouldn’t it be easier to dump the rocks out of the backpack instead of trying to get strong enough to carry the extra weight?

Absolutely!

But how can we learn to spot those 45,600 negative thoughts and get rid of them? How can we empty our metaphorical backpack?

Advertising

Well, it gets a whole lot easier if you know what you’re looking for. Some of the most prominent types of negative thoughts are self-limiting beliefs, all-or-nothing thinking, and dwelling.

Let Go of Self-Limiting Beliefs

It’s pretty hard to be mentally tough when you’re constantly beating yourself up. Self-limiting beliefs are any beliefs that hold you back in some way. Here are some examples:

“I’m not smart enough to…”

“I don’t have enough experience to…”

“I’ve tried that before, and it didn’t go well, so I must just be bad at…”

When we allow these self-limiting beliefs to flood our minds, negative self-talk runs rampant, and we crowd out our ability to think positively. We’re effectively working against ourselves.

If you want to keep your mind strong on your path to success, you have to overcome the self-limiting beliefs that are holding you back by realizing one key truth: self-limiting beliefs are thoughts, not facts.

When you recognize a self-limiting belief cropping up in your mind, quickly silence it by telling yourself that it’s not true and then back that up with some positive affirmations:

  • “I am smart enough; I may just need to do some more research first.”
  • “I may not have as much experience as someone else, but that’s not going to stop me from trying. I have enough experience to get started. I’ll figure the rest out on the way.”
  • “Just because I failed at this last time doesn’t mean I’m going to fail this time. My past does not dictate my future.”

Get Rid of the All-or-Nothing Thinking

Another form of negative thinking that could be preventing you from building mental toughness is all-or-nothing thinking.

All-or-nothing thinking is the concept of thinking in extremes. You are either a success or a failure. Your performance was totally good or totally awful. If you’re not perfect, then you’re a failure.

But this isn’t true!

If you’re trying to lose 30 pounds and only lost 28, isn’t that still better than not losing any weight at all? I’d say so!

If you allow all-or-nothing thinking to rule your mind, you’ll be on cloud nine when you succeed, but you’ll beat yourself up when you “fail.” Acknowledging the shades of gray in between will allow you to see success more often and it will help you celebrate your smaller wins.

When you recognize an all-or-nothing thought, remember to look for the positive in the situation. What did you gain by trying? What would you have missed out on had you not tried? Could you do better if you were to try again?

Ditch the Dwelling

Self-Limiting Beliefs and All-or-Nothing Thinking can lead to a bad case of dwelling on the negative. If you want to build some mental toughness and keep your mind strong, you have to ditch the dwelling.

Every day, bad things happen to each of us, and while there’s nothing we can do to prevent that, we can control how we react to these situations.

When we dwell on our misfortunes, we waste massive amounts of energy that we could be using to achieve our goals. When this happens, we’re more likely to quit altogether.

Advertising

But that doesn’t mean you’re not mentally tough; it just means you’re misusing your energy.

The next time something bad happens, it’s important to allow yourself to feel the disappointment and frustration, but work on reducing the amount of time you dwell on the situation.

Easier said than done, right? Try these:

  1. Call a friend or mentor and talk it through with them. Get some outside perspective on your situation.
  2. Time block your dwelling by allowing yourself to dwell for no more than one hour.
  3. Then, tell yourself to move on, that you’re human, and you’re allowed to make mistakes or experience setbacks.
  4. If all else fails, find a good way to distract yourself until you can calm down and reexamine things with a clear mind.

The faster you can focus on the positives and move past the problem, the quicker you can get back to achieving success in your life.

Be Patient about the Process

No matter which negative thoughts tend to run around your mind, working to replace them with positive thoughts can take time.

Learning to spot self-limiting beliefs, all-or-nothing thinking, or dwelling is one thing, but learning to quiet those thoughts is another thing entirely.

If at first you don’t succeed, don’t fret. Instead, take a deep breath and try again. As you work towards improving your mindfulness and your mental toughness, remember that you’re going to get better with time.

To make things a little easier, it helps to connect with your purpose.

2. Connect with Your Purpose

One of the most critical elements to building mental toughness and keeping a strong and focused mind is having a strong ‘why’ for everything you want to do.

If you set out to achieve a huge goal that you don’t have a ‘why’ for, you’re going to find yourself distracted, discouraged, or disengaged as soon as you experience your first setback.

Think about the last time you were working on a goal or resolution and things weren’t going well, maybe you even wanted to quit. Perhaps you thought you didn’t have enough willpower. Maybe you told yourself that you didn’t have enough discipline.

Here’s the truth: you just didn’t have a strong enough why.

Simon Sinek has been spreading his message “Start with Why” across the globe.[2] In short, he says that:

“Your ‘why’ is the purpose, cause or belief that inspires you.”

One of the biggest drains on your mental energy is pursuing a goal or a task that you don’t have a ‘why’ for. This is when we tend to look for external motivation or question our willpower, but those aren’t the issues.

Often, we set goals because we like the idea of the goal, not the reality of the goal. Without connecting to our why, we can’t intrinsically motivate ourselves to achieve our most challenging goals.

Find Intrinsic Motivation

Intrinsic motivation is our innate desire to do something and it comes when we work towards something that satisfies ourselves above all else—not our parents or our bosses or our teachers.

Advertising

Let’s say you think you want to quit smoking because you know it’s bad for you, but you really enjoy smoking. If you don’t truly want to quit smoking, it’s going to be nearly impossible, regardless of your willpower or mental toughness.

But if you want to quit smoking because you just had a baby, and you don’t want your baby growing up around smoke, then that ‘why’ is going to give you intrinsic motivation. Intrinsic motivation is far more powerful than sheer stubborn willpower, and it’s far easier to maintain over the long haul.

If you’re trying to develop mental toughness, connecting a why to everything you want to achieve will reduce the effort and energy it will take to achieve those things. Once you’ve found a strong why for all of your goals, you’ll find that you’ll have significantly more energy to pursue your more difficult challenges.

3. Find Strength in Unity

The final aspect of developing mental toughness is embracing the idea that you’re not in this alone. It’s a fact, anyone who’s ever achieved success in anything didn’t do so alone.

Bill Gates didn’t build Microsoft alone. Oprah didn’t build her network by herself. Steve Jobs didn’t invent the iPhone without a team. Michelle Obama didn’t implement the “Let’s Move” campaign on her own.

Behind all of these successful people were countless other people who were there offering support, mentorship, guidance, and encouragement.

If you want to develop unmatched mental toughness, you need to understand that you don’t have to go it alone. Even the toughest Navy Seals have a team backing them up.

If you want to stay strong in your endeavors, you need to build a team of supporters who will step in and back you up when it counts.

Find a Mentor or Committee of Mentors

The benefits of having a great mentor are far too many to list, but to boil it down to the basics, a mentor is someone who will help show you the path to success.

A good mentor will help you discover your greatest strengths, spot and overcome your blind spots, and work through your weaknesses.

If you’re struggling to deal with your internal negativity or with finding your purpose, talk it through with a mentor. Sometimes we lose the forest for the trees, and a mentor can help us take a step back and see the bigger picture.

Here’s how to find the right mentor for yourself: How to Find a Mentor That Will Help You Succeed

Recruit Some Cheerleaders

If you want to stay strong, it never hurts to have a group of personal cheerleaders. Unlike mentors who are going to jump in and help you address your problems, a group of cheerleaders will help keep your spirits up.

Even if you have a strong ‘why’ and a positive mindset, it’s nearly impossible to maintain a positive attitude 100% of the time. It doesn’t make you weak to need some help from time to time. Having a group of people cheering you on will make all the difference in the world.

As you work towards your goals, tell a few close friends about what you’re doing, and when things get tough, tell them about it. And when they give you the pep talk you need, don’t resist their positivity or counter it with your self-limiting beliefs or your all-or-nothing attitude.

Allow their optimism to refill your energy and use that energy to press on.

Form an Accountability Group

Cheerleaders are great, but sometimes we need someone to give us the kick we need to keep going. You might have a strong ‘why’ for running a marathon or losing 30 pounds, but that doesn’t mean it’s going to be easy; and trying to force yourself to follow through is a sure way to tax your mental energy.

Advertising

Why not save some of your mental energy by forming an accountability group?

Find a person or a few people who have similar goals, or at the very least, the need for an accountability partner. Then, form an agreement within the group to push each other every day.

Even if your goals aren’t the same, accountability partners are great for giving us the push we need when we need it most.

Regardless of which relationships you choose, sometimes we have to be able to work through things on our own. Mentors, cheerleaders, and accountability partners are a great way for us to combat our naturally negative mindsets, but occasionally we have to be able to pick ourselves back up.

4. Learn to Pick Yourself Back Up After Setbacks

Building a strong mindset and developing mental toughness isn’t easy! Anyone who’s ever achieved massive success knows that obstacles, setbacks, and failure are inevitable, and you’re no different.

As you work on your goals, you’re going to face many ups and downs, but this doesn’t mean that you don’t have mental toughness, willpower, or discipline.

We all struggle. We all fail. It’s what we decide to do after we fail that truly counts.

When you find yourself in a low spot, ask yourself these questions:

  • “Am I being too hard on myself?”
  • “Are negative thoughts such as Self-Limiting Beliefs or All-or-Nothing Thinking distorting my view?”
  • “What’s the positive side of this setback/obstacle/failure?”
  • “Why was this goal important to me? What was my purpose?”
  • “Is this goal still important to me? Do I still have a ‘why’?”
  • “Who can I ask for help? Who can mentor me or cheer me on? Who can help hold me accountable?”

Asking yourself these questions is a great way to check in on your mindset. When we get lost in negative thinking or lose connection to our purpose, it’s far too easy to become discouraged. When we feel discouraged, we start feeling weak, maybe even a little hopeless.

Also, this article provides some useful tips to help you get back on track: How to Deal with Failure and Pick Yourself Back Up

Tying it All Together

Are you still with me? I know I’ve thrown a lot at you, from developing a positive mindset and combatting your internal voice to connecting with purpose and building a committee of mentors. It’s a lot to take it!

But here’s the bottom line:

A crucial part of developing mental toughness is learning to recognize these tendencies and taking action to correct them early on. Developing mental toughness is not about eliminating weakness, but learning how to deal with it and overcome it.

No one is perfect, but when we focus on the right things, we can develop a mental toughness worthy of life’s biggest challenges.

More About Mental Strength

Featured photo credit: Zulmaury Saavedra via unsplash.com

Reference

Read Next