Live Without Walls

Visit My New Blog

I decided to start a new blog on Multiple Streams of Income which extends beyond home-based businesses. I will be transferring the postings over plus adding new exciting ones .... See you there

http://www.pureprofitsfromhome.com/blog/

No Boss - The Good News & the bad News

The good thing about running my home-based business is that I don't have a boss. I am my own boss! Yes ! Finally ! The feeling is rather liberating I must admit :=)

The good news is .... There is no one to set deadlines, no one to set sales target, no one to do performance appraissal, no one to tell you when you can to take vacation, no one to decide your income level, etc.

The bad news is .... all the above. Procrastination, laziness, lack of focus, etc can sabotage your success.

One effective way to overcome this is to find a buddy (could be your spouse, business partner, friend) who is willing to listen and hold you accountable to what you said you will do. I find that helps a lot.

For the record, I did have the good fortune of working under bosses who are reasonable and supportive.

Do The Right Things

In the corporate world, things are usually well organised. Some more than others ;=P There is the HR department, IT department, Accounts department, Sales & Marketing department, etc, not forgetting the pantry ladies who made sure our cups are washed and coffee is always ready in the morning. It seems everyone knows (or should know) what to do each day.

Running a home-based business can be quite an overwhelming experience initially. Yes, you are the President (that should bring a smile to your face) but you are also everything and everyone else. Beyond time management and knowing what is important and what is urgent is the key question I ask myself:

Do I know what are the right things to do to be succesful in my business ?

Deep down, we all know the answer. Sure, there is no short-cut to success but it is not necessary to walk the long way when someone can show you a better way. That's where mentors and coaches come in.

I want to do the right things and not just doing things right.

Why Work From Home?

Chinese New Year is a great time to get together with friends and relatives. Cookies, Bak Kwa (sweetened sliced meat), mandarin oranges and lots of good food. For the kids, the excitement of receiving and opening Hong Bao's (red packets containing cash for good luck and blessing). For some, it's simply a good opportunity to take a short break.

Whichever way you celebrate, the holiday is now over. Dragging myself back to work is a thing of the past. I like the fact that as a home-based entrepreneur, I have greater control over my time. Read more about other benefits of running a home-based business in the following article I came across.

7 Benefits of Being a Home-Based Entrepreneur

Job security. Fact or Myth ?

"This is final. It's a business decision."

Finally the bomb dropped! Months of fear, anxiety, speculation and rumours came to an end. We shouldn't be surprised; the signs were all there. The industry has been struggling, the company has to survive, the orders are not coming and we are a cost centre.

Still it is hard to accept. Our minds play tricks on us. "Maybe there is still hope", "maybe not this round", "maybe not me". Reactions were mixed. Some were calm, at least relieved that the waiting is over. Others looked worried, confused, betrayed, bitter.

It's time to pack up...
"Is there any opening in other departments ?"
"How's the job market ?"
"I'm past 40, I heard it's quite tough out there."
"But I just bought a new car !"
"My child is hospitalised, what about our medical insurance?"

Then, reality struck. The paycheck is not coming in anymore but the bills certainly are.

So much for job security. I learned it the hard way !