Although setting up a home based business is not as difficult as most people think, it's still best for some people not to quit their jobs to and give up steady pay to run their own home-based business. Why? Some people will find more success being employed. Some people can be successful at making active investments and running their own businesses while some people will not have the patience or the discipline to make a business flourish.
Discipline is an essential part of running your own business because you must be able to motivate yourself to work even if you want to spend the whole day in bed especially since your bed will be conveniently located just a few feet from your work desk. You must have the discipline to choose working over the other one million and one things you could choose to do at home. Some days, you will have to sacrifice fun time for work time. Even when your business is already successful, there will still be many sacrifices that will have to be made.
Discipline and patience are not the only characteristics you need when running your won home-based business. There are many traits you need to you need to continually feed and strengthen and develop your potentials and limit your weaknesses or at least develop your other strengths to make up for your other shortcomings. You need to be strong when running a business, not just physically but also emotionally and psychologically because running your own business means minding it practically 24/7.
Good entrepreneurs are very focused and positive. They will not let small setbacks get in the way of their success. They will keep trying until they succeed and they understand that challenges are a part of running a business. But part of being focused is being able to set a goal and having vision. You must have a vision or a target on what you want to achieve. Some life coaches have suggested being very specific about dreams and plans. You must have a concrete vision of where you want to take your company. Even if you're starting small, it doesn't hurt to dream of bigger and better things for your business and yourself. Having a concrete and grand vision for your company will help you get motivated to work harder.
Courage is also an important trait for self-starters. Any business will involve risk, some higher than others and you must have the courage to face difficult decisions. But it's not just courage that's important, you must also be very sensible. You must be able to make calculated-risks. You should also know when to plod on and when to quit. You must be able to weigh the risks and benefits. If losing out will mean the starvation of your whole family, then you must also have the courage to quit. Sometimes you just need to take a break from a business and re-launch it at a better time. Of course, just because you are losing money at the start doesn't mean you have to quit right away. Good businessmen are good at evaluating which businesses to continue and which ones to freeze.
