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3. Write up a business plan. Be sure business is something that interests you. You might want to start on a part-time basis, and grow from there. Research business carefully, make sure there is a market, and competition is not overwhelming.
4. Be sure you have at least six months living expenses set aside. This will give you time to work through marketing strategy outlined in your business plan, and avoid bad marketing practices. In addition, if changes need to be made, you can do so, without monetary concerns becoming an issue.
5. Be sure your office space is located in a separate room or area of your home that offers least distractions. A separate office is best, especially if you are meeting with clients. Remember to always present a professional appearance.
6. When will you do your regular household chores? Make up a schedule of when you will deal with them. Some individuals find getting chores done before start of work day is best. At end of day, close your office door and then deal with remaining household items that need to be handled. Time management will be a very important factor in running a home-based business.
7. For husband and wife teams, it becomes imperative to have some form of disability insurance for each other. Remember, even though your partner may be your husband or wife, he or she is still your business partner. An accident or illness to one of you can severely impact operation of business.
A business is only as good as you and your partner make it. It takes a lot of dedication, time and energy to run a business, whether it is home-based or not. It can be a very rewarding experience. Think carefully, and ask yourself a lot of self-searching questions before you begin.
Copyright 2000, DeFiore Enterprises.
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