There's no doubt that starting a home based business is a goal, or at least a dream, for many people. After all, just think of the positives: since you are the boss, you don't answer to anyone but yourself – except maybe your customers, you don't have to worry about the price of gas for the daily commute, and you can pick and choose your own hours and set your day up as you see fit.
However, there are some serious considerations you need to deal with before you venture down this road. Think it through, and ask yourself some hard and fast questions.
Likely, one of the foremost questions will be should you hold on to your current job, at least for the time being, while you work at establishing, or starting, your home based business. If you do, how many hours in a day will you be able to devote to your own business? Do you have any extra hours you can put aside either before or after the day at your current job, or are you willing to give up your weekends?
What about the logistics of where you will work from home? Do you have a room that you can turn into a home office, where you can be free from household distractions?
How much of your blood, sweat and tears are you willing to put into your new venture? What if there is a large learning curve? Will you stick to your determination and learn what is necessary? Even if your business is going to be around a hobby, craft, service, or anything else that you are already totally familiar with, don't be deluded into thinking you know it all. You may still have to learn all of the management aspects of running a home based business. You may be working from home now, but there will still be issues like bookkeeping to deal with. Will you do it yourself, or are you going to hire someone for these aspects of your business?
Once starting your home based business, do you know how to market it? People will need to know about you, so how are you going to make that happen? Are you going to market online or offline? Which would be most effective for your business? How much money have you put aside for these marketing efforts?
And another important question. How are you planning to finance your new, small, startup business? Do you have, or can you afford, all the equipment that will be necessary?
Don't wait to answer these questions. You should have thought all of this before you start your new venture.
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