Countering Isolation at Work

Ever more people work at home. And many of them appreciate the fewer distractions, no time-wasting commute, and not having to get into a work get-up every day.

But some of my clients who work alone feel isolated. Fortunately, there are mitigators. Frankly, most of these suggestions are just common sense but a number of my clients told me they hadn't thought of them, so I figure it's worth a blog post. Of course, this is an incomplete list but if nothing appeals, maybe it will trigger your own ideas. 

It's my PsychologyToday.com article today.

Should You Start a One-Person Business?: 14 questions

Today, it seems that more people than ever are considering starting a one- or few-person business. Perhaps that's because, in this terrible job market, ever more people can't land a decent job.

These questions may help you decide if you'd be wise to start such a business.

1. Running your own one-person business means you must be a self-starter: structure your days, and keep working hard, even in the face of setbacks. How confident are you that you'd work hard and well enough?
A) Very
B) Quite
C) Moderate
D) Minimally

2. How confident are you in the viability of your business concept or your ability to find a viable one?

A) Very
B) Quite
C) Moderate
D) Minimally

3. How confident are you in your ability to create an excellent (if brief) business plan that will address funding, cash flow, and marketing?
A) Very
B) Quite
C) Moderate
D) Minimally

4. How confident are you in your ability to persuade people to buy, invest, sell to you, calm down customers, etc.
A) Very
B) Quite
C) Moderate
D) Minimally

5. If you were buying furniture for your business, you'd mainly buy:
A) used items from Craigslist ads, garage sales, etc.
B) used items from a used furniture store
C) new items from Office Depot, Target, Ikea, etc.
D) new items from a higher-end furniture store

6. If you owned a store that sold eyeglass frames, you'd most likely buy them from:
A)  a manufacturer(s) in a low-cost country
B   a U.S. manufacturer(s)
C)  a wholesaler whose sales rep called and then visited you.
D) Costco

7. How confident are you that you would devote the usually-required 10-30 hours a week on marketing, especially in the business's first year or three.
A) Very
B) Quite
C) Moderate
D) Minimally

8. Even one-person businesses usually require significant paperwork: bill paying, bill collecting, answering emails, government forms, etc. How likely are you to keep up with it and/or to afford hiring someone to do it:
A) Very
B) Quite
C) Moderately
D) Not

9. Every business has problems that arise: technical, human, logistical, mishaps of all stripes. If you too frequently have to hire someone to solve them, your profits can erode quickly. How confident are you in your ability to solve such problems by yourself in a timely manner:
A) Very
B)  Quite
C) Moderately
D) Not

10. Many one-person businesses, especially service businesses can be started for under $2,000, especially if it's a home-based business. Of course, the business you choose to start could cost much more--opening a cafe, for example, usually costs six figures. How confident are you that you have the capital to start your business, plus the operating capital to keep it running for the months or even year or two it may take to become profitable? (You needn't have the cash yourself: You could borrow on your no-interest credit card, borrow from Uncle Ernie, and/or get an SBA loan, especially if you're a woman or minority.)
A) Very
B) Quite
C) Moderate
D) Minimally

11. Many one-person businesses operate at a loss or minimal profit for months or even a year. Can you afford that?
A) Yes
B) With modest strain
C) With serious strain
D) No

12. If your business ended up generating little or no profit and you lost all the money you invested in it:
A) You'd still be able to essentially retain your lifestyle and financial security.
B) It would hurt your lifestyle or financial security but you'd probably be okay.
C) It would hurt your lifestyle or financial security but it wouldn't be devastating.
D) It would be devastating

13. Facts aside, how worried would you be about your business failing?
A) Very
B) Quite
C) Somewhat
D) Minimally

14. Overall, how excited are you about the prospect of starting and running a one- or perhaps two- or three-person business?
A) Very
B) Quite
C) Moderately
D) Not

SCORING: For all items A=3 points, B= 2 points, C=1 point  D=0 points.
Obviously, no set of questions can definitively indicate whether you should start a business. But the closer you scored to the maximum of 42 points, the more the indication you'd be successful and enjoy running your one-, two-, or three-person business.

My Favorite Home-Based Businesses

Here's my current list of favorite home businesses. They require small investment, are offshore- and recession-resistant, and offer a good risk/reward ratio. 

• Agent for job seekers. So many job seekers feel unable to write a resume and cover letter, let alone cold-call potential employers. Just as actors and musicians hire agents to land them  auditions, you can help job seekers to land job interviews. 
• Marketing consultant. For example, help small business owners to market their business. Specialize, for example, in mom 'n' pop restaurants, or help owners of vacation homes and time shares to get their places rented.
  
• Consulting writer or editor. Solicit small businesses to hire you to write or edit a newsletter,  ads, catalog copy, even business letters. 
• Counselor to college-bound students. You'll have an edge if you can also advise on how to find money for college.
  
• Personal, career, life-transitions, money, or dating coach. 
• Accountant or bookkeeper. Especially as electronic records become ubiquitous even in small businesses, this is a business you can run from home.
• Create small-scale architectural models for developers, realtors, municipalities, architects, and landscape architects.
• Tutor. You can charge surprisingly high rates, especially if you specialize. Examples: math for girls, autistic kids, organic chemistry.

Alas, the idea is only 10% of success. The rest?

• Practical intelligence. That means the ability to buy cost-effectively, price at market value, and quickly solve the myriad problems that arise in running a business. You can't always ask a consultant or friend to help you.
  
• Drive. Procrastinators, you're probably better off working for someone else.
• Willingness to sweat the details. You're at risk of failing if you think you can get away with being big-picture. You must be willing to to discipline yourself to take care of the details.

Can you think of any other home-based businesses that you think should be added to my list?