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Talking About Your Home Business Idea

Woman with ipad talking about home business

Sometimes it is easier to hide behind your iPad than it is to talk about your new home business idea.

Talking with your friends and family about your home business idea isn’t always easy.  In fact, most of the time it is down right tough.  In the beginning, I found it very hard.

A Scam I Am?

Sometimes others just don’t “get it”.  Others don’t understand how you could possibly make money working from home.  They are certain it’s a pipe dream, and nothing more.

Maybe even a scam.

Hint:  There is one way to tie down a scam.  Ask yourself, “What does the other guy get from it?”  If the other guy (i.e., me) gets lots of money, while you get only promises, odds are pretty good that it is a scam.  If the other guy isn’t getting much, if anything, odds are that you can trust that advice a lot more.

Who Are You To Find Success With My Home Business Dream?

Sometimes friends are jealous.  Truly, nearly everyone in the world would like to work at home.

Back when I was working in a law firm, I recall a conversation with one of the top lawyers, a woman.  Her dream, the thing she wanted more than anything else in the world, was to have a home business.  She wanted to stay home and enjoy her children, and in her position at the law firm it just wasn’t possible.  I think she was especially jealous that I, a lowly paralegal, had found a way to work at home.

Sadly, I’ve run across this jealous streak more than I would like.

Home Business Ideas And Dumb Stats

Sometimes people remember that dumb statistic that says something like “90% of all new businesses fail”.  Well, just between you and me, that stat is a bunch of bunk.

I am not certain if bankers or the SBA originally put out this stat, but it was based on the fact that 90% of small businesses

  • changed their address,
  • changed their name,
  • changed their ownership, OR even
  • changed their phone number.

Any one of those events would trigger a “Failure” ranking in the survey.   To the people who took this survey,

  • any company that moved to larger facilities in a different zip code was counted a Failure;
  • if “Susie Secretary” became “Sue Jones Secretarial Services”, it was counted a Failure;
  • any company that began as a sole proprietorship and later incorporated was counted a Failure; and even
  • any company that needed a larger phone service was counted a Failure.

And goodness gracious, if they actually sold the business for a massive profit, they would have been counted a massive FAILURE, with a new name, new address, new ownership, etc.

Also, the stat was based on brick and mortar businesses.

The stat is simply not true.

The New World Of Home Business Ideas

We are in a whole new world now.  Not only was the stat never accurate, but it never took into account that home businesses are vastly different from brick and mortar businesses.  This is something that many people still don’t “get”.  They don’t understand, for example, that …

  • Home businesses don’t have high rents to pay;
  • Home businesses don’t have high overhead with huge phone systems, cooling/heating systems, etc.
  • Home businesses typically don’t need to worry a whole lot about paying employees and discrimination compliance issues;
  • Home businesses don’t need the massive advertising campaigns that brick and mortar businesses need;
  • Home businesses require a smaller income, for they are supporting only one employee.

My goodness, the list is huge.  With all the financial incentives to look at home business ideas, most people just can’t do it.  (And that doesn’t begin to note the emotional reasons for working at home.)

The whole term “failure” takes on a whole new meaning with a home based business.  I have known hundreds of home businesses, and I know for certain that very few have failed.  Many did not become as successful as the owner would have liked, but few lost money or caused a bankruptcy.

Me First

So how do you talk to your partner or your friends about this great new business idea that you’ve got?

First, be comfortable in your own shoes.  Know the common objections and know that you are comfortable with the answers.  If you are not comfy with the whole idea of a home based business, nobody else will be comfy either.

Next, know how you will structure the business, and what it is likely to cost.  These are important considerations for you, and for anyone you talk with.

Decide if you might be able to start the business part time in your spare time.  Being able to prove some success, no matter how small, is a huge step in your favor.

If you go in asking their opinion, they will likely say No. N-O.  Period.

But if you go in prepared to talk dollars and sense, with a real game plan in hand, odds are that they will be more likely to hear you with an open mind.

Having cheerleaders in your corner is an important part of business.  Yes, you can go it alone.  I have sometimes.  But it’s not fun.  I felt like I was sneaking around behind people’s backs.  After all, you will be on the computer most of the time, so many will assume you are emailing or playing games.

Far better is to get your ducks in a row, then talk about your home business idea with all the friends and family who will listen.  They may even have a good idea or two for you.

So what has been your experience in talking with people about your home business idea?  Jot us a note — we’d love to hear about it!

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