what was the hardest part about starting your own business?

Question

I am thinking of starting my own business from my home and I'm just wondering what I am in for

Answer 1

Making ends meet while you find customers and business to keep your company in the green.

PS if you are in the US make sure you start/run your company from your home, make sure you register as an LLC

Answer 2

I have owned many businesses in my life all away from home. The main thing is money. Many start a business without the proper capital to last a year without income. Many times you do not make money right off and you must cover expenses. So having enough money is always the biggest worry.
With an at home business you don't have all the overhead but you still need to off set what you prior salary was plus have money or start up (advertising, business programs, tax programs, and product).
Don't start a business out of boredom or thinking it is easy it is not. Business owners work harder and longer for the dollar. You can work 24/7. I have done it. There is no one to take up the slack.
I SUGGEST STRONGLY TO GET TO THE LIBRARY AND READ SOME BOOKS ON SMALL BUSINESS.

Answer 3

I think the hardest part is being able to handle the down time. You will no doubt go through periods where you don't have income coming in and plenty of time on your hands. You need to figure out how to best utilize this time to build your business. It will take a lot of hours of hard work with not much in return and a lot of doubt will start to creep into your head. Stick with it and continue to work hard,

Here's a good article on why businesses fail:
http://www.home-business-expo.com/wiki/SmallBusinessesFail.asp

Best of luck!

Answer 4

Uncertainty.

Most of what you will go through will come down to that one issue. Both my wife and I are self-employed, and we know the next good project is coming, but when? And in my line of work, how long a delay until the paycheck comes through? A six-month delay is not out of the ordinary.

You think you've got good marketing, but business doesn't come through. Your best supplier is raising their prices, can I afford to raise my prices? Just as success can come out of nowhere, so can and unexplained month, season, or year.

The solution to this is plan. Anticipate problems, and plan for them, and throw in some extra cash for unanticipated trouble, too. Remember that growth requires permanent planning: beware taking on employees, buying space or machinery, before being able to support it for several profitless months.

It takes guts, and a slightly crazy mentality, but with planning, its possible!

Answer 5

The hardest part is making the decision to do it.

Once you make that decesion, the how to will follow. Sure there are lots of things to consider and things you must do, but decide what it is you want and then do what it takes to get there.

You can find some helpful information and articles on this site.

Answer 6

sales/marketing strategy.

ie: what sets you apart from your competitors, why should others select you, why is your product/service the best, who will you target your product/service to, what percentage of your revenue will be given to this, how much time involved, what tools/methods used, how will you afford to sustain your info delivery to your audience about your product/service, how will you differentiate between levels of customers and prioritize, etc., etc.

Answer 7

Identification of a viable,feasible,marketable PRODUCT!

Answer 8

Until you get established, and even after, you can be in for some lean times. No workee, no payee.