Many people dream of owning their own home based business or opening a business offline but not everyone has what it takes to succeed.

Wage Earners

It doesn’t matter if a wage earner is a salaried employee, a contract employee, a temp. employee or an hourly wage earner; these people are all trading their time for money. In most cases, the productivity of the employee is not tied to the compensation received.

In most cases, you get paid for being on the job when scheduled and doing just enough to get by won’t get you great evaluations but it seldom results in a loss of pay.

Self Employed and Home Based Business Owners

A daily To Do list is a tool used for the preservation of sanity and for a productivity boost by people that work for themselves. This tool helps the business owner get as much done as possible on any given day without as much wasted effort as possible.

These people know and understand that they must get the work done or there isn’t going to be as much potential for the income or lifestyle they want.

Hours Worked

Wage earners usually work a preset number of hours to receive the compensation they receive.

Offline business owners may or may not have preset hours BUT there is no guarantee that the monies received will be enough or even the same from week to week.

Other home based business owners that work online, offline or a combination of the two often find that the hours required to make their businesses successful far surpass what they were putting in as a wage earner.

Many home based business owners find out, sometimes too late, that there is a lot of learning and WORK involved in getting a successful business up and running. The workload may lessen once your work system is in place and you are using the appropriate automation tools.

Compensation

Wage earners expect and receive compensation at or above the minimum wage set by the government.

The self employed know there is no guaranteed income. When first starting a business, the cash flow may be negative but a successfully built business can make a wage earner green with envy.

Character Traits

To me, a self employed person is a:

  • Self starter.
  • Person that knows what they want.
  • A person that isn’t afraid of working long hours with few, if any, visible results for awhile.
  • A person that’s willing and eager to learn to grow.
  • A person that sets goals then works toward them.

A person that treats their business like a business instead of treating it like a hobby which means self imposed work hour’s family and friends must acknowledge.

If you don’t think you have the above traits and more, you may not be able to achieve the success you are dreaming of with your own home based business.

Is a Home Based Business Right for You?

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