Are You Ready to Start a Business?
There are many good reasons to start a home business. We want more control over our lives, we want to work at something we enjoy, and we want to eliminate long commutes. But good reasons aren't enough to prepare you for the realities of starting a business. Here are five important areas to consider.
1. Have you chosen a business?
Sounds elementary but it's the very first thing you must do. Here is a link to help you get started: Choosing a Home Business.
2. Is there a market for your business?
Every business must have customers. Can you identify who they will be and how you will reach them? Take the time now to do market research before you invest in the business because even aggressive promotion won't help if there isn't a market. Remember the Edsel?
3. Is it legal to have a home business in your community?
Fewer communities have restrictions about home based businesses now but there still might be some archaic laws on the books in your town. Call the city offices to find out what zoning regulations exist and what types of businesses are allowed in residential neighborhoods. It will be worth the effort. You don't want your business shut down because you are violating a zoning ordinance!
4. Do you have the space for your business?
Working on the kitchen table might be fine, for a while, but usually it is inconvenient and it interferes with the rest of the family. It is better to find space in your home that is exclusively for your business, even if it is just one corner of a room. Then, when you enter that space, you know you are "at work."
5. Do you have the time to devote to your business?
You are going to be spending a lot of time working so be prepared to make a few compromises. It is unrealistic that you will have more time with your family, at least in the beginning. Your house is likely to be messier than it used to be, and meals may be what ever is in the pantry. You will likely work more hours than if you had a regular job but if it is something you enjoy then it won't seem like work.
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