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6. Make new lists for each of
businesses that remain on your list. You need to know what is required to start and operate each business. You need to know everything. What equipment will you need? How will you advertise business? What space is needed? How much start up money will you need? What are you local and regional requirements for running a business from your home? How much money should each business realistically earn each year? Make a list of questions, and answer those questions for each of businesses remaining on your list.
7. How much time are you willing to invest in your business? Look, realistically, at time requirements for each potential business on your list. Are you willing to put in required time?
8. Locate people who are in businesses that are left on your list. Find a way to talk with them. Find out what all pitfalls are, and how to avoid them. Learn as much as you can from them about how they started their business, what it took, from a financial and time standpoint, and what they have done to make their business succeed. It is not a good idea to choose a competitor for this research. Either choose someone who would not be considered a competitor, or don't let them know that you are a potential competitor. Make call or arrive at meeting armed with a list of questions to ask.
9. Think about remaining potential businesses on your list. Think about each one individually. Imagine yourself taking steps necessary to start up each business. Imagine yourself running each business. Which ones feel right? Which ones feel wrong? Your gut instinct should never be ignored. With some businesses, redundancy can become a problem. Will you get burnt out doing same tasks over and over? You need to think long and hard about your options, your personality, your likes and dislikes, etc.
10.With all of information you have gathered in your research, you are finally in best position possible to choose your new business. So, simply make a choice...but don't throw your list away. You may want to try one of other possibilities in future - after you've made a success of your first home business!
For More business ideas, look through free work from home database maintained at http://www.onlinebusinessbase.com
Kelly Lowe is the owner of Online Business Base at http://www.onlinebusinessbase.com . She coaches those who wish to become home business professionals. She is also a professional freelance writer. She manages a database of business ideas and opportunities on her website as well.
