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When Is a Home Business the Right Decision?

Aug 17, 2007
Starting a home business is a big deal, and it can be a bit risky. It's not right for everyone or for every situation. You should think carefully before plunging into any home business.

But once you get started, you should work at it wholeheartedly.

One of the first considerations is how a home business will impact what you are doing already. Maybe you're looking to supplement your income from your regular job. Maybe you're hoping to earn something as a stay at home mother.

In any case, running a home business will have a tremendous impact on your day to day life. Even the smallest business will take a lot out of your free time.

This means that you will need to discuss your plans with your family. Anyone who will be directly impacted needs to understand why you want to do this. They may be supportive, they may not be. But they need to know so that they know what to expect from all of this. Your working hours, type of business and setup will matter to everyone in your household.

You may also have to answer questions about whether or not the opportunity you want to pursue is a scam. Of course, if you're doing something entirely on your own, you can be sure it's not a scam, but if you're joining any sort of company at all you will probably have to explain why you believe you can make it work.

This means you should do your research on whatever it is you intend to do. Be clear on how you will be earning money. If the opportunity is multi-level, you want to be certain that you do not just expect to earn from recruiting. Those kinds of opportunities can sound really good, but are more prone to being scams. Make sure you can follow how your income will be generated.

The kind of home business matters too. You hear a lot about following your passion, and there is a reason for that. Doing something you love makes it far easier to get through the hard times when you aren't earning what you hoped. Most home businesses will go through times like that, as overnight successes are rare.

But passion isn't the only thing. You want to understand how you will sell to people with the same interests. If there isn't a market, look at one of your other passions. Surely you have more than one thing you truly enjoy doing and would enjoy in business.

But there are times when a home business is not the right choice to make. One of the key indicators is your own attitude towards it.

If you aren't going to take it seriously and work hard at it, a business is probably not the right choice.

If you can't take the financial risk, a home business is probably not the right choice.

If you don't know when or how you are going to find time to work your business, it is probably not the right choice.

The decision to start a home business is a highly personal one. You may not always get the familial support you want for your decision, but it is still possible to do well if you are determined. You need to find the right balance that suits you, your family and the needs of your business.
About the Author
Stephanie Foster blogs at http://www.homewiththekids.com/blog/category/home-business/ on running a home business. She also offers more stay at home business advice at her site.
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