I’m often asked about my biggest challenges when I started out with Home Biz Chicks and working from home. So, for the first time, I’m revealing all – and you’ll probably find we share a common story. Here are my top 5 biggest challenges and what I did to overcome them:
Taking that first step. You have to take the leap of faith and believe that your business will work. I waited until I had a baby and needed to work from home in order to care for my daughter. I can’t tell you how happy I am that I finally made the decision to give up working for someone else – I only wish I’d done it earlier. I’ve grown so much as a person and when I wake up on Monday mornings I’m excited about what the day holds, not worried or dreading what might come my way.
Feeling fearful. Could I really run a successful business? Who would want anything that I could offer? Would anyone be willing to pay me? I wrestled with all those ideas and more. I’ve now come to realise that every time I get fearful, it’s a sign that I need to grow. I take fear to be a positive thing. When I feel fear in business and the voice in my head says ‘you can’t do that’, I take it as a sign that I MUST do it. Usually my fear comes when there’s a new opportunity that means I’ll have to step outside my comfort zone. But the great news is that once I’m out of my comfort zone, I’ve grown as a person – and so has my business!
Realising I had a great idea, but no business skills to run a business! This is a common realisation that often strikes after you’ve already begun and there’s no turning back. I didn’t know much about financial control, taxation or bookkeeping so rather than let this stop me, decided never be afraid to ask for help, or ask a dumb question. I outsourced the administrative side of the business to a bookkeeper and an accountant. Outsourcing continues to be a great strategy to grow my business.
Cash flow. I needed to put into place expensive activities and strategies that would grow the business, but still needed to earn an income. I could have focussed on my PR business and made a lot of money in the short term, but I needed a longer term plan that wasn’t dependent on how many hours I could charge out each week. In order to grow Home Biz Chicks I had to give up some income in the short term for the long term gain.
Web design. I knew I wanted to set up a membership site, but I didn’t really understand what I needed until I was part way through the design process. Then I realised the contractor I was working with didn’t have the necessary skills to do the job. I could have given up before I’d even begun, but I cut my losses and moved on. I spent a significant amount on getting the web site I wanted, which I knew would service me for years to come. I’ve realised that making a firm decision quickly and taking action is much less costly in the long run than continuing down a path that isn’t quite right for you, simply because you’ve already invested time and money in the wrong direction.
