Home Based Business

1. When starting a home based business it is extremely important to have not only a plan but market research as well in order for you to be successful.

Planning ahead and knowing who your clients will be, what services your home business will offer, and how you will offer these services will help you avoid pitfalls along the way. Timing is also key. Monitor current economic conditions and your own financial situation. Have a back-up plan should you not meet your sales quota.

2. Savings are not necessary when starting your home based business. Once you get up and running you can pay back any debt that has accrued.

If you have no other means of financial support, work to build up a savings in order to carry you through the "start-up" phase of your home business venture. Increasing your debt in the beginning will make it extremely difficult to get loans you may need for a later phase of your start-up, and they will be hard to pay off once you start generating revenue.

3. Don't worry about consulting with professionals. Your home based business is just that - your business.

Every form of company structure has certain tax and legal implications. It is important for you to choose the company organization that is best for your home business career. Be sure to consult with professionals in this particular area. Tax structures can be complicated matters, and it might be worth your time and money to have someone assist you in planning before you get too far along.

4. Choose a quiet and comfortable workspace for your home business, preferably away from the main activity center of your house.

It is important for your work to be separate from your family life. This will help create a sense of "at home" and "at work" for both you and your family. This is important for the psychological well-being of you and your family, and in the end, your career will be more successful for it.

5. When working at your home based business, it's alright to be somewhat lazy in completing the day's necessary work. After all, you chose to work from your house in order to have more freedom from a tight schedule.

Romans 12:11 - Not slothful in business; fervent in spirit; serving the Lord.

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