Start your business at home. This can be a fun, yet challenging experience.

Online-based businesses are a great way to have the flexibility of working when and how you choose.

This is more evident than ever with the increasing number of home-based online business owners. Unfortunately, it’s a known fact that one-third or more of newly started businesses fail their first three, find out more.

The secret to a successful home-based venture is finding one that fits your lifestyle.

Below are 3 tips that may help you avoid making the same mistakes as those who have failed in a business venture from home.

Realistic expectations are important

Any home business that is starting up should follow this first golden rule. If you are unsure of the model you will choose, make a decision and then create your own game plan.

Having a plan in place will allow you to focus on your goals and stay on course.

A business from home offering a one-million dollar income for doing little work should be avoided at all costs. Re-evaluating your plan of business is a good idea.

The reasons you failed to meet your 6-month-old goal should be examined.

For example, if your initial goal was easily achieved, you can set an even higher one. Your home business should have a realistic goal.

Self Discipline

When working for someone else it is important to be punctual, arrive each day at the appointed time and leave.

If you’re working by yourself, and especially in an internet or network-marketing business, then it can be very easy for you to get distracted.

As an example, when using the internet you can “just” check your Facebook account or “just” send a short email to someone or just “visit” a forum that is a registered member.

The idea is great, but in a matter of minutes you won’t have done anything on your work from home business. If this was happening to an employee, they would not tolerate it!

For you to achieve success, you must start by treating your home business like every other business. Make a commitment to spend so many hours every day working solely on your company.

When you’re lucky to have the room of your choice as a workspace, that is great. But if it happens to be in a bedroom, remove all distractions from there like TVs and CDs. Set up an area for you where you won’t have to worry about being disturbed.

Beware of “the new shiny thing” — don’t let yourself be lured in by the next-best thing which promises to make your home-based business a success. Keep to the tested techniques and most importantly, have patience!

Accepting the factor of delayed satisfaction

Working for an organization or employer means you have to go into the office for about eight hours, five days per week.

If you work right, at the end a week (or month), you get paid what you’ve worked!

The “job mentality”, which is still prevalent among people who have their own business from home, can be a trap. They expect to see quick results. Many people lose hope when returns do not materialize.

Instead, it is better to consider delayed gratification. The idea is to do a ton of work on your own online business before it starts to pay back. This is called delayed gratification.

Keep the wheels moving and you will see that it keeps coming. It depends entirely on how diligently you have worked your business opportunity at home during the initial stages.

As if you were pumping water into a deep, secluded well. You have to start by pumping like mad. Once the water is flowing you just have to periodically prime it.

Owning your business is the ultimate reward.