5 Tips For Managing The Greatest Risk To Your Home Business Success

Written by Donna Patterson

woman in front of desk top computer- managing risk #1

I am sure you never thought about this risk yet it is the greatest risk of all.

Managing risk in your business is essential to your success long term but most business owners totally ignore the biggest risk in their business- YOU

This revelation happened recently when I found myself doing everything else but work on my business, allowing myself to be distracted from important tasks.

In this video I share 5 tips that helped me handle this risk and get back on the path to success in your home business.

Video Summary

1. Identify Your WHY

The purpose and emotional driving force for you building your business. Your hope and dreams.

Not just general statements like time-money freedom. Dig deeper and visualize what does your perfect day look like.

Ask yourself what happens if you don’t build a successful business and who would be most affected besides you. That is why your why and mission needs to beyond you to be very compelling.

Such as your retiring your spouse or building a legacy for your children.

2. Blocked Business Hours

Whatever your schedule, commit a certain time during the week to work on your business. I usually create posts and draft blogs on Sundays but when I miss that slot, my week is chaotic scrambling to post content.

So ensure that you be fully present in your business during your business hours.

3. Assess and Remove or Schedule Distractions

It is best to to reduce unnecessary distractions but some are unavoidable in the short term such as household chores and those related to family obligations. I would suggest preparing for them and schedule them into your week based on necessity and priority.

4. External Inspiration and Motivation

Develop your mindset daily through blogs, videos. audio and so on. Even ones like from Les Brown that really kick your butt. These motivational pieces, help you keep your head the game and belief in your own success.

The world is negative, why not fill your mind with positive vibes?

5. Harness The Power of Association

Continually surround yourself with like minded, progressive, optimistic people that can rally, support and encourage you to reach your highest potential.

This may even mean investing yourself and purchasing courses to improve your skills or even working directly with a coach.

In conclusion, YOU are your greatest ASSET. On the other side, the truth is you are also your biggest risk or liability. Everyday as a business owner you make decisions in business and health that move you in one direction or the other. We all fall offf the wagon at time but the point is not to stay for long.

Keep moving forward and stepping out in faith.

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