7 Tips to Consider Before Starting a Home-based Business

There are many attractions to starting a home-based business. Perhaps the main attraction is working to your own schedule. You choose the hours you work without any boss or company rules governing your life. Don't fool yourself though - managing your own business if your will rely on the business as the main source of income will require hard work and effort. If things get tough, you may have no-one to fall back on - you will need to be strong enough to whatevers needed. On the plus side though, you will gain a good amount of satisfaction from any successes you have.

Here are some things to consider before beginning your own work at home business:-

1. Will your new business pay an living wage? Will you need to continue with your existing job at the same time?


2. Will your new business require marketing or advertising - do you have experience in managing these aspects of a business?


3. Do you have the necessary funds to invest in your new business? If not, is the business plan for the business strong enough to attarct investment or loans?


4. Do you have or need a fallback plan? What happens if the business does not take off in six months for example? Will you have given up a decent, full-time job and ended up unemployed?


5. Do you have the full set of skills to run the business? In the past have you always relied on colleagues to fill key roles or supply keys skills? Can you cover these areas adequately?


6. When you need help, will you be on your own? Have you identified a mentor or adviser who can help when things get tough?


7. While the above points are highly important, do not start a home-based business that you are not truly passionate about. Working for yourself is almost 100% certain to require more dedication - and hours - than working for someone else.

One of the easiest home-based jobs to start is in the area of web design or software development. You still need skills and experience - whether in graphical design or writing software - but the setup costs can be minimal. These days, everyone has a PC and a broadband internet connection. with the right idea - and contacts - you can set up your own business at a very low cost.

If you work at home, you'll soon realise that you still need a separation between the main house/ family and your work. You need to organize a working space where you can work without disruption. An attic or garden room would be ideal. A small degree of physical separation between your family and your workspace will make it easier for you to switch between work and home life. If are considering starting a home-based business, you will need to become skilled at time management in order to balance work and time with your family. If you can get the balance right though, working at home can be an enojayble experience and much more relaxed than a doing a lengthy daily commute to an office job.