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