This is a question many people have asked themselves, sometimes over and over. Is it possible for the average person to start and run a successful home business? Iím here to say that the answer is a resounding YES!
With that said, there are some specific questions you should answer before starting your business. This list is by no means a complete, comprehensive all-encompassing checklist, but it will give you a good starting place.
What type of business to start?
- Do I have any knowledge in this area?
- What skill do I have to run this business?
- Is this something that I will enjoy doing?
- How much will it cost to start?
- Do I have the money this would require?
- Is there a market for this product/service?
- How will I promote my business?
- Am I willing to put in the effort to make it work?
- Am I dedicated enough to ďstick with itĒ?
- How much income will this business have to create?
- How big do I want this business to become?
- What are the tax implications of owning a business?
- Are there any regulations (federal/state/local) that I need to be aware of?
- Am I capable of doing the bookkeeping required or do I need to hire out?
- What type of insurance will be required?
There are numerous resources online to help you answer some of these questions. Here are a few of the sites I recommend.
Of course, some of these questions can only be answered by you. Be honest with yourself. A successful home business is a wonderful thing, but a failed business can be a hard pill to swallow. Honestly answering these questions (and others) will help direct you on the path to success.
2004 © Born-Again Bargains
Craig Binkley Ė husband, father and home business owner assisting in the restoration of the ďtraditionalĒ family through home business ownership.