In an ideal world, we’d all work from home and be our own boss! For many people, this dream is a reality as they run a home business. There are so many benefits to working from home while running a business, but there are also a few difficulties. Today, we’ll have a look at some of the main difficulties and how you can overcome them.
Trying To Lead A Team Remotely
It can be exceptionally hard to lead a team of employees when everyone is working from home. If you all worked in the same office, then you can easily gather everyone and assert your authority. It’s much more difficult to get people to follow you when they’ve possibly never even met you, and just know you as a name on a screen. A lack of leadership can soon cause your business to fail as there’s no efficiency or productivity, and a general lack of direction.
How can you overcome this? Firstly, it makes sense to learn about how to become a great leader. There’s this concept called strategic leadership in which you learn the right strategy to becoming a leader people want to follow. Nowadays you can get an MBA in strategy online, which will help provide you with two things; a qualification your team will respect, and the knowledge to lead properly. So, you’ve now got general leadership skills, but how do you apply this to working from home environment? The key thing is to try and be as personal as possible. Instead of sending out emails, host conference calls on Skype or Hangouts so you can see all your employees and they can see you. This helps you feel more ‘real’ to them, and they can gauge your expressions and passion a lot better. Communication is crucial when it comes to leadership, and there must be constant communication between you and your team. Never leave them in the dark, let them know what’s going on and what needs to be done today. All of this helps you lead a remote team of workers.
Growing Your Home Business
It’s thought that problems with growing a business are one of the main reasons startups fail. For me, it’s so much harder to grow a company when you work from home. Here, you have certain limitations and need to work around them. As an example, you have to ensure you’re growing at a rate that you can actually manage. What if you start taking on too many new customers and can’t handle the additional workload? It results in some customers being left unhappy, which harms your business. It’s super difficult to grow a home-based business without doing too much.
How can you overcome this problem? Well, it’s tricky because different businesses may experience different issues when they try and grow. For starters, I think you should always think about growth. Don’t settle for a constant line of semi-success, always aim to improve and make more money. This is an issue some home businesses have; they simply don’t grow. One of the keys is ensuring you can accommodate your newfound growth and success. A great way to do this is by investing your profits into things that help expand your business. Here’s an example; you run a business from home that sells clothes, and you keep the stock in your garage. Then, business gets better and better, meaning you need to generate more stock, but can’t fit more in your home. Here, you should invest your profits in a bigger stockroom – such as a small warehouse or storage container. Now, you have enough room for more stock and can fulfil all the extra orders. Likewise, more customers mean you need more support, so outsourcing a customer service provider will help you. Essentially, both these things are examples of using your money to gain help from outside your home. As you grow, your home should become more of a base for you to work in and deal with everything, rather than where the entire operation happens. As such, you can still work from home and run your business from a home office. The difference is that you now have other companies working with you, or stockrooms in different locations, all to help accommodate the growth.
When it comes to running a business from home, these are two of the biggest difficulties. Yes, it’s hard to lead a team when you don’t work in the same place – but not impossible. Similarly, it’s very difficult to grow a home business as you quickly run out of resources in your home – but there are ways to overcome this as well.