by A.W. Mosby

Created on: April 17, 2008

Let's face it, everybody would like to own their own business, to be their own boss, and set their own wages; but, the reality of it is that most small and home based businesses struggle to keep themselves going so not everyone can fulfill that dream. A large amount of startups fail, leaving the entrepreneur who started it deeper in debt than they would have otherwise found themselves to be. The only exception to this is for the business owner who has little or no investment in their business to begin with. This article, however, pertains to any entrepreneur - even those who already have their business off the ground.

I have grown up in the shadow of small business owners and watched their businesses grow from the ground up. Unfortunately, I have also had to watch some of them fall. In my observations, those business owners that succeed have one thing that the others do not; that is a firm grasp on the management of both their time and their money, as well as the understanding of how important these two things are. Being unorganized, in this sense, would be similar to walking through a forest blindfolded; you struggle to make your way through and meet many hazards in the course of reaching your destination.

Managing your time, although it may not seem it, is essential. Anyone entering into a business venture with a "work when I want" attitude is doomed to fail. While you may be able to make your business work for you, you are not able to make its targeted market do the same. It is you who should be working for your business which prospers through the service it provides to consumers. When you come to terms with that principle, it is much easier to schedule your life to meet the needs of your business as well.

Designate specific hours of each day to your business, as if you were employed by someone else, and specific hours to family and yourself. Schedule your appointments with clientele to fall within your business hours; if you have a family event, plan to attend it several days, if not weeks, in advance so that you may keep that time period free of any business matters. You should, for professional purposes, also notify your clients of when you will not be free or able to fulfill your duties to them; in this way, they know that your service may take longer than it would otherwise but that you will provide it as soon as possible. This keeps you from seeming lethargic and contributes to your status as a reputable business which, in turn, keeps and draws more clientele.

Money

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