“Do you work harder at your career or running your business than you do your own household?”
We put a ton of effort into being successful at our profession or as a student but do we give the same effort with our own households? Do you have a home business plan? Is your home organized? Is your home profitable (savings)? Does your home have a strategic plan that leads to a happy home? These are all questions that every business owner should look at or their business will eventually fold. We can apply the same principles that business owners apply with our home life. It may be an adjustment in the beginning but the result will be one that was worth the effort.
Your home business plan can consist of where you want to live and how much you want to allocate to the cost of your home. Since a home is our biggest monthly expense it is in our best interest for us to choose wisely by living within our needs not our means (ability to spend.) Organization is key to any business so make sure your house is organized in key areas such as important papers/documents, items that are needed for upkeep and maintenance, and inventory such as food and supplies. Having a budget and knowing where your money is being spent is vital to the success of your home business. Minimizing or eliminating credit card debt is great for your home business’ bottom line. Having two or even one car payment may hinder your ability to save money, so choosing cars that last with the expectation that when the car is paid for, you have the ability to go without having one car payment for a minimum of one year. When you have planned out your home life, your expenses are within your needs, the results are savings month over month. Make sure you know the results of your smart decisions, by checking in each month to see how your profits are coming. Saving $400.00 per month should net you with $4800.00 of annual profits (savings.) When you pay off a bill, take that same money and now pay yourself which will add your profits. As you see, this approach can resemble a business and you can make it fun along the way. Work hard at work and work harder at your home business.
One thought on “Day 3 – Run Your Home Like a Business”
Have a new prospective about running your home like a business.
I will use the this new approach and set goals around these principals.
Excited about running my “Home like a Business”!
Keep the awesome advise flowing.
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