Working from home or in a home business can be a very rewarding and
sometimes very lucrative way to make a living, but it’s neither easy
nor quick, and it’s NOT for everyone. You get to call the shots
and be your own boss. You can set your own hours, and you reap all
of the rewards if you are successful.
I applaud your desire to spend more time with
your child, but if you're not a true "self-starter" who likes to
work alone, you may not find the experience all that rewarding.
Working at home is a balancing act. You will need to work first,
while still handling the demands of your family.
Time management, especially at first, can be overwhelming. Your
work hours may stretch out alarmingly and there's no formal
"quitting time." Most likely you will have to do all of the tasks
that are essential to running a business, without help. You
probably will not have the type of office equipment and support
services that you may be used to.
You can also get into serious trouble if you
aren’t adequately prepared to meet the challenges of this type of
lifestyle, or enter into it for illogical reasons. Working
alone can also be isolating. There's no water-cooler camaraderie.
There's also no guarantee of a steady income (or any income).
Startup costs may be greater than anticipated and income may come in
slower than you'd like. More importantly, an
unsuccessful or frustrating job search isn't usually the best reason
to be an entrepreneur. If you are the type of person who needs
"structure," support, and a steady income, re-think being your own
boss!
Successful home entrepreneurs know that they
have to do lots of up-front research before move forward. They make
sure that they’ve got what it takes (besides technical skills) to do
the job.
If you're planning to work on your own,
honestly assess your motives, resources, and chances of success,
along with your expectations. Create business and personal,
financial plans to get you through the beginning stages. Be
realistic about what you can expect financially and emotionally.
Some of the most basic questions to help you decide whether starting
a home business is for you, are:
* What kind of work do I want to do?
* Will I choose something similar to what I did
as an employee, or something entirely different?
* Do I like the kind of work and auxiliary
tasks that are involved in this business?
* Will I purchase a franchise, work for someone
else, start a partnership, or start my own business from scratch?
* Will I be able to sell this product or
service in the general marketplace, in my home-town, on the
Internet, or at all?
* Will my new career require training or
academic courses?
* What are the startup costs and will I have to
make a significant, up-front investment in equipment or materials?
* Do I have enough money to survive up to a
year if the money doesn’t roll in the way I’d like?
* Should I work with a partner or partners?
* Do I have a fallback plan in case things
don’t work out?
* what are my interests, skills, assets,
liabilities?
After you’ve picked the type of work you want
to do, research the viability of your choice in the marketplace. It
might seem frustrating if you think you’ve got a great idea and
you’re dying to get started, but thorough research and planning
early-on can save you from getting scammed, or throwing away your
life’s savings on a business venture that has no chance of
succeeding. If you are starting your own business, you will need to
apply for any licenses that might be necessary, and should have the
financial resources to cover business and personal expenses for at
least six months to a year as you get your new business off the
ground.
Internet Schemes: The Internet provides a
wealth of new business opportunities and many of them are perfect
for someone who wants to work at home. Some of the most common
involve word processing, desktop publishing, information research,
data entry, web editing, freelance writing, and sales.