The idea of a work from home job instead of a corporate role was a bit daunting. I had to overcome my fears and seek a money making idea. I had a family and a lifestyle worthy of the effort. I had to get motivated and push on.
Years of corporate life instills in you the process of planning. So I started this process and commenced building a legitimate work from home job.
Step 1. Assess yourself
I updated my resume, more to review the assets, me, that I had available for this new business idea. I distilled my assets as:
I have been an integral part of the executive leadership team driving strategy, business improvement and financial performance of business units and operations. I know all aspects of running a successful business. I am results-driven and strongly motivated, I pride myself on outstanding experience in people leadership. I an goal oriented. I have the track record to streamline, tighten controls and establish effective KPI’s. I know where to expend my effort and what is not a core task. I have a willingness and desire to be ‘hands on’ and moreover enjoy the commercial and operational value I can add. I can operate a business and know how to execute.
Apart from specific industry skills, this was my asset base. As a side note I have been in countless interviews where, I suspect, every other applicant would have created the same list.
I decided, as a father and husband, I needed to leverage my skills and management expertise. To that end I have created a legitimate work from home job.
Step 2. Prepare a Work From Home Business Plan
In a work from home business cash is king, and cash flow is everything. I needed the plan to focus on cash flow and track all revenues and expenses. From a financial perspective planning a small business is significantly easier, than a corporate plan
I put in place controls to track and manage revenues and expenses. I chose Open Office for my computer platform, I completed SWOT analysis (Strengths, weaknesses, opportunities and threats). I also assessed the potential for different business models and kept reviewing the market place.
With vision, mission and action plans this would be a complete work from home plan.
Just like a corporate this is not a simple process but invigorating when you have a documented plan.
This task definitely exercised my corporate skills.
Step 3. Treat It Like a Legitimate Work From Home Business
The basement needed a clean up. I needed an office. Perfect match.
No panoramic views, just a chair, desk, stationary and computer. I separated my business finances from my personal finances. I created a limited liability company, LLC. I registered required services in the company name; including internet access, telephone and mobile phone.
I knew what brand of coffee was available and I could now separate work from home.
I no had completed the first phase of my business. Step 4 would be more complex.
Step 4. Gain some leverage
Without the resources of a company behind me, I took on all roles. As you all know this is not an efficient situation.
My next task was to establish leverage. Leverage for a work from home business, and limited expense meant, to me, leverage the internet. This was a significant money making idea and needed focus.
