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Finding the Balance Between Healthy Business and Happy Home

Enough is enough: Running a business will place great demands on your
time and you will likely end up juggling family commitments, vacations and
free time. While the workload may seem like it will never end, you can
actively set some limits. Keep an open mind about hiring someone to take
the load off. Determine what time sacrifi ces you are prepared to make for
your business. Defi ne the boundaries, and build your plans around them.

The financial investment: Will you use your home or nest egg as
collateral for the business? How long before money comes in? Can you still
make ends meet? Address these kinds of questions early, so you can work
out the solutions long before they turn into problems for everyone involved.
Contact your local Chamber of Commerce to fi nd out about benefi t programs
for small businesses. Talk to your bank or fi nancial advisor about setting up
an automated retirement savings account.

Staying healthy: Taking the time to eat right, stay active and get enough
rest is an investment in your business. Don’t let your personal health and
well-being slide. You should also have a contingency plan that includes
illnesses, pregnancy, care of children and elderly family members – not to
mention a bit of preventive rest and relaxation.

Manage your plan for work -life balance with as much vigour as you would
your business plan. No matter how busy you get, don’t forget to come up for
air at least once a year to re-visit and adjust your plan. Your success – and
your happiness – may depend on it.

Harker Alumni

You have a great idea, and you wonder why no one thought of it before.
Before you start fi lling out loan applications or renting offi ce space, ask
yourself some tough questions – and be prepared to do your homework.

1. Do you have what it takes to be your own boss?
To manage a successful business, you’ll need:

Passion for your idea and the ability to communicate it to others.

Motivation to develop a plan and to work hard to carry it out.

Problem-solving skills.

Multi-tasking skills to handle a hundred details at once, as well as develop and manage your business strategy.

Self-confi dence: trust in your decisions and people skills.

Flexibility to recognize and adapt to change, opportunities and unforeseen developments.

Ability to sell yourself and your products or services.

Persistence to see your idea through.

2. What’s your vision?
Why do you want to go into business? Is it to follow your passion, take control
of your life and career, achieve infl uence and success, or become fi nancially
independent? How would a business help you achieve that? How do you
expect things to look three years down the road? See “Building Your Plan,”

3. Who might want to buy your product or service?
It’s all about people. Your decisions on everything from product to price to
location need to be based on the characteristics and needs of your potential
customers. See “Defining Your Market,”

4. How would you manage financially?
You may need money to pay for offi ce space, supplies, equipment, inventory
and to cover your personal income needs, perhaps for a year or more. See
“Finding the Money,”

5. What do you need to know to run a business?
Think multi-tasking: you will have to manage your space, inventory,
suppliers, fi nances, marketing and correspondence. Even if you hire
professionals to help, you will need to understand enough of what they do to
oversee their work and apply it to your situation. See “Learning the Ropes,”

6. How would a business aff ect your personal life?
The first three years in a new business are usually defi ned by a steep
learning curve and long hours. Many business owners put holidays and
personal plans on hold until they become established. Good organization,
clear boundaries and the cooperation of family members are critical to
success. See “Finding the Balance,”

Most of them is a big problem for newbie in business area, and also you need some analysis called SWOT analysis , that really important if you wanna starts your own business .  i always get more question
of i have been tell anyone about what im write above. but dont worry , i will tell you more detail.
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