| Before starting your home based business, | | | | in-depth knowledge about your concept, or is |
| consider these important rules. | | | | it something you recently became interested |
| | | | in doing? (The next question is more |
| Rule number 1: | | | | important than the first one here) Is your |
| | | | business concept something you're PASSIONATE |
| "The biggest mistake people make in life is | | | | about? If the answer to this is yes, most of |
| not making a living at doing what they most | | | | the time this makes up for knowledge you may |
| enjoy." - Malcolm S. Forbes | | | | lack. Starting a home business with a concept |
| | | | you are passionate about is essential. |
| If you really like the internet, enjoy | | | | |
| surfing, learning and experimenting online, | | | | 3. Money - This one's clear, but what's less |
| if you have patience and accept the fact real | | | | obvious is how much money will you need? Over |
| and legitimate online businesses take some | | | | what period of time will you need money and |
| time, then you're looking in the right place. | | | | at which points during that journey? Many |
| Since you're here, and searching for ideas on | | | | businesses fail because people did a great |
| starting a home based business, you are | | | | job calculating the up-front costs, but |
| already on the right track. | | | | didn't look at the money required to keep the |
| | | | business going until it can support itself |
| Rule number 2: | | | | financially. Starting a home business |
| | | | with-out knowing the long term financial |
| "Failures don't plan to fail; they fail to | | | | requirement is a failure waiting to happen. |
| plan" - Harvey MacKay | | | | |
| | | | 4. Market Research - Is there good potential |
| (If you don't know about Harvey MacKay, make | | | | market for your concept and how much |
| a note to find out more, and do a search for | | | | competition exists in that market? If you and |
| his books.) | | | | three other people love the concept, great! |
| | | | But if it's hard finding many other people |
| Heard it before? Think it's too hard and | | | | also interested, you should consider |
| probably doesn't apply to starting home based | | | | exploring other concepts. This requires |
| business? | | | | research. |
| | | | |
| Wrong Answer! | | | | 5. Goals - You need to have "SMART" goals for |
| | | | your business; Specific, Measurable, |
| More and more people starting a home business | | | | Attainable, Realistic and Time-bound. Heard |
| are succeeding today than they did even five | | | | it before? Sure you have, but this time it's |
| years ago. This comes from the U.S. Bureau of | | | | more important than ever, because this is |
| Labor Statistics - | | | | your future. Take the time and set these |
| | | | goals well. Starting a home based business |
| Why? Because more and more people are using | | | | will be much easier if you get this right |
| the vast resources the internet has to offer | | | | from the beginning. |
| to better plan their business start-ups. So | | | | |
| what are the tips for creating a business | | | | So, where are the tools to put this |
| plan that you will use, and not just stuff in | | | | altogether? The first one is you! No business |
| a drawer? Start by writing down your answers | | | | plan software or business planning tool can |
| to these five questions: | | | | help you unless you can first place your |
| | | | thoughts and dreams for your business in |
| 1. Concept - What is the product or service | | | | writing. It really doesn't matter what format |
| you intend to sell? How will you sell it? | | | | you follow, just put everything in writing. |
| What are the different ways you can sell your | | | | Once you have everything in your head |
| concept? Who will your customers be and where | | | | transformed into written words, then you can |
| will you find them? | | | | use the many software tools available to |
| | | | organize your thoughts, dreams and wishes in |
| 2. Knowledge and Passion - Do you have an | | | | to a winning plan. |