In the first installment we discussed whether or not you have the discipline, work ethic and space to run a successful business from home.
But you need to ask yourself these questions as well: 4)Do I Have The Money? Don't kid yourself...
starting your own business can be expensive.
If you are "in between" jobs or quit your last one to start your new one, you aren't going to have an income for a while.
Even the best businesses have a little bit of a lag in the payment process, so before dropping everything to start your own business, make sure that you have enough savings set aside to cover you bills for several months...
just in case.
Another approach is to find a business that you can start part time (while you are still employed) and then build it up so that when you quit your other job (or get "downsized") you will already have an established track to run on.
You should also be prepared to invest some money into business start-up costs.
If you were starting a business outside of your home you'd have to find a building, potentially pay a franchise fee (OUCH!), buy equipment, and suffer several other expenditures.
When starting a home business you can avoid all of the "brick and mortar" costs, but you'll still need some basic equipment.
If you are planning on taking advantage of one of the "prepackaged" home business opportunities, you will have to pay their enrollment or initiation fees.
5)Will I Miss The People? There is an aspect of working from home that is often overlooked...
you'll most likely be alone.
Sure, you may have your children running around (but, as we discussed in Part One, you'll want to make sure they aren't a distraction), but the lack of adult interaction will be a lot tougher than you realize...
even if you work with a bunch of jerks.
To compensate for the lack of public interaction you will want to make it a point to network with other people over breakfast, lunch, or as part of sponsored events.
In my area the Chamber of Commerce hosts gatherings after business hours to promote networking...
find somewhere you can plug in so that you don't lose touch with your spheres of influence.
6)Do I Have A System? Franchises have systems that work...
but they cost thousands upon thousands of dollars.
Take a lesson from them and find a business opportunity that has a system proven to help you succeed.
Then, all you'll have to do is implement the system and you'll be up and running...
unless a problem arises and/or you have a question about implementing the system! So, in addition to finding a system that works, you should also find someone who is willing to teach you the system.
And preferably, someone who will walk along side you until you are absolutely sure of what you are doing...
and then be there for you when you realize that you don't.
In summary, before diving into a home business, there are several questions that you need to ask yourself.
We have covered some of them here, but finding answers for the questions you have will pay big dividends for you in the long run.
Do your research.
Ask tough questions.
And above all, be honest with yourself about the answers!