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Starting and Managing a Business From Your Home

Make it Easy on Yourself

Successful home-based business owners learn from experience--their own and that of others. In Jeffry A. Timmon's study of entrepreneurial personality characteristics (New Venture Creation: A Guide to Small Business Development), he notes that entrepreneurs are disappointed but not discouraged by failure. They use failures as learning experiences and try to understand their role in causing the failure in order to avoid similar problems in the future. Furthermore, Timmons asserts, entrepreneurs seek and use feedback on their performance in order to take corrective action and improve.