Factors To Consider

There are many issues to consider when you are thinking about starting a home-based business. A new business venture will significantly impact both you and your family. It is important to analyze carefully your reasons for starting a business and how the business will fit your family lifestyle. Begin by answering the following questions:

- Do you have a marketable skill or product to sell?
- Do you need the money?
- Are you a self-starter?
- Do you want to be your own boss?
- Do you have the self-discipline to maintain a work schedule at home?
- Do you want more flexibility in your work schedule?
- Can you take criticism and rejection?
- Can you switch from home responsibilities to work all under the same roof?
- Can you cope with the isolation of working from home?
- Have you discussed the business with your family?
- Is your family willing to support the business? To what level?
- Are you ready to treat your business as a business rather than as a hobby?
- Are you flexible when necessary?
- Do you have the money to cover a business start-up and initial operating costs?
- How will your customers/clients feel about your working from home?
- Is there adequate space in your home for your work?

Are you ready for a challenge? A home-based business may cause problems within the family. You need your family's support. They need to take you and your business seriously. What help can you expect or do you need from family members? Will you have adequate time to spend with your family? Use of their money, skills, and time often makes the difference between success and failure.

Lack of planning and insufficient financial backing join poor management as main reasons businesses fail. The majority of small businesses fail in the first few years of operation. Improve your chances of success by careful planning.

source & credit: http://msucares.com/business_assistance/homebusiness/bbspub.html