Dear Moneymaking Insider,

Now I don’t usually cover business tips in MoneyMaking Insider – but today I thought I should. You see – business is getting tougher these days… Particularly with the hike in interest rates. People just aren’t interested in spending anymore. And businesses around South Africa are starting to feel the knock. That’s why I wanted to arm you with six tips that'll help put you ahead of the pack and keep you earning in a tough market…

1. Be prepared for hard work!
There, I've said it. Cruel, I know, just when you were thinking it was all long lunches and entertaining clients. We only tend to think about the perks of being a boss, not the hard work that comes with the position. In reality, your boss probably works 12-hour days, takes work home and has to run through the monthly accounts rather than play golf. And that's the level of commitment you'll need to get a home-business off the ground. You can play golf all day long when you've made your first million!

2. Bossing yourself is harder than you think!
Being your own boss is a dream position to be in, but there's a real risk of letting things slip, because the temptation to live out the life of a boss stereotype can lead you astray. So, you'll get up, see it's a sunny day and say to your cat, "Take all my calls and move my appointments, I'm off down to the pub". The bad thing about this is, there'll be no one around to stop you. So think about your working habits now. Do you need a boss to constantly badger you to finish a job or do you happily work until a job is done without any pressure? If you fall into the first category, you'll have to change your ways. Try joining a business management course at your local college and make sure the course includes time management. Buying a book on the subject won't be as effective.

3. Time shrinkage...
At home everything takes so much longer to get done than you would think, because there are so many distractions you're just not used to. Even the fact that there aren't phones ringing every couple of minutes is weird and the silence can be distracting. And if any family members are at home too, you can easily slip into a domestic routine during 'office hours' because that's what you're used to when you're at home. So when you're scheduling your tasks, be realistic. What took an hour in the office could take one and a half hours at home until you get used to your new routine.

4. Money is only the second most important motivation!
Working for yourself can be a great thrill at first, but as the weeks and months pass that feeling could fade if you're only doing it for the money. Even if it's working and you're making decent cash, you soon get used to your new level of income, so that alone isn't the best of motivations. Remember, you're going to have to work long hours to get your business off the ground, maybe for a pittance in the first few weeks. So to see you through those thankless first steps, you need to be working on something you LOVE! You need to enjoy the work to stand the best chance of success - because then it's easier to keep going when things get frustrating.

5. Don't skimp on the essentials – buy a good quality computer, printer, scanner and fax machine. Even if you're running your home-business out of a shed shared with the dog, make sure any correspondence with clients and/or suppliers is bang on time and well presented. Also invest in a separate business line for all calls - the worst thing in the world is creating a glossy, professional impression then having your kid pick up the phone and burping in a client's ear.

6. Create the illusion of success – when you work for an established company at big offices it's easy to show people how successful (and, therefore, trustworthy you are and what a great service you provide), but it's a bit harder when you work from home. So create an illusion of good-standing and impeccable credentials by investing in good quality stationery and getting a professional to design your letterhead.

Running a home business is a thrilling endeavour that's satisfying and (with a lot of hard work) profitable. But there are probably things you take for granted at an established office that could let you down when you shift to a home business.

Follow the above guide and make sure you give your home business the best possible chance of success!

In the name of success,

Chris Densley
Managing Editor of MoneyMaking Insider