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Last updated: 7-28-11

BuiltWithNOF

Assessing Your Assets
by Phil Hanson

Do you have sufficient knowledge and skills to meet the requirements and obligations of your work-at-home business? If not, the time to acquire them is before you sever all ties with existing employment.

The same thing applies to any equipment you may need for running your business. The more you already have, the less expensive (and risky) starting your new business will be.

Will you have sufficient space in which to work? Often, a spare bedroom, den, party room, family room, kitchen, basement or garage will suffice, depending on the kind of business. Know how much room youíre going to need before you abandon other options.

Are you self-directing and self-motivating? If you need to have an authority figure standing over you, telling you every move to make and cracking a whip, you probably wonít last too long as a home-based self-employed businessperson. As a self-employed individual, youíre both boss and primary worker. Without you making the decisions and taking appropriate actions, nothing will get done.

Thatís not to say you canít have mentors or hire consultants; successful business people do it all the time. But, if you come to rely too much on others to make business decisions for you, youíre not really the boss. Youíre putting control of your business in someone elseís hands, thus defeating your purpose. Spare yourself the humiliation and agony. Keep your day job.

Phil Hanson writes and edits e-media content at Perfecttext.com. He also publishes Peteyís Pipeline E-zine, a quirky bi-monthly for Internet entrepreneurs. (more articles by Phil)

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