The landscape of the modern workplace continues to change. While the last century saw the rise of large employers, the 21st century is a time of diversification, marked by the growth of small and home-based businesses.
Many entrepreneurs enter the home-based business industry by accident. They see a way to make money and start small, expecting to expand when the business takes off. But when their business does become profitable, they may decide to stay small, at least in part because they like the advantages of basing their business at home.
Some of the risks involved in running a home-based business are the same as for starting any business: no fringe benefits, no job security, start up costs, initial lack of steady income, and lots of long hours and hard work. Add to these the loss of home space, isolation, likelihood of interruptions, and the need for tremendous self-discipline and you've got the disadvantages of starting a home-based business.
When you live where you work you have to deal with certain unique business concerns. On the down side, family conflicts can arise when you set up your office in the living room. You want quiet when others want music. The pens disappear and someone MUST get online now! Like in any solo business the startup costs are all yours, there is no initial financial stability, and no one shares the risks. You have no fringe benefits, no time off, no health insurance. Most of all, working at home requires a great deal of self-discipline working when family fun and household chores call to you.
There are many legitimate online business opportunities, but there are also scams. Investigate thoroughly before you sign anything. Look at all ads and marketing materials. What are the earnings claims and how are they backed up? Find out the number and percentage of previous purchasers who achieved the earnings goals. Get names of at least ten purchasers; interview them to find out their experience with the business. Contact the government agencies that license or oversee the business, as well as business and consumer organizations. Find out if the business has any record of illegal activity or unresolved complaints.
You may have your own business idea or you make decide to buy into an existing business opportunity. Whichever way you go, you need a business plan that sets out the financial, legal, and marketing aspects of your business. You'll need this information in writing if you decide to seek funding for your business. Get help from lawyers, accountants, or marketing professionals if you need it; there's a lot to understand about starting a business.
If you're going to start your own business, you must have a business plan. Determine what form of legal ownership is best (sole proprietor, partnership, corporation). Are special licenses or permits required? Conduct a market analysis; does your prospective business fill a business need? To qualify for financing, you'll have to show the startup costs and income opportunities.
Eight-five percent of home-based businesses are still in business after three years. It takes a lot of work, but the opportunity is there. Do your homework and take your time and you too can work where you live. - 15485
Many entrepreneurs enter the home-based business industry by accident. They see a way to make money and start small, expecting to expand when the business takes off. But when their business does become profitable, they may decide to stay small, at least in part because they like the advantages of basing their business at home.
Some of the risks involved in running a home-based business are the same as for starting any business: no fringe benefits, no job security, start up costs, initial lack of steady income, and lots of long hours and hard work. Add to these the loss of home space, isolation, likelihood of interruptions, and the need for tremendous self-discipline and you've got the disadvantages of starting a home-based business.
When you live where you work you have to deal with certain unique business concerns. On the down side, family conflicts can arise when you set up your office in the living room. You want quiet when others want music. The pens disappear and someone MUST get online now! Like in any solo business the startup costs are all yours, there is no initial financial stability, and no one shares the risks. You have no fringe benefits, no time off, no health insurance. Most of all, working at home requires a great deal of self-discipline working when family fun and household chores call to you.
There are many legitimate online business opportunities, but there are also scams. Investigate thoroughly before you sign anything. Look at all ads and marketing materials. What are the earnings claims and how are they backed up? Find out the number and percentage of previous purchasers who achieved the earnings goals. Get names of at least ten purchasers; interview them to find out their experience with the business. Contact the government agencies that license or oversee the business, as well as business and consumer organizations. Find out if the business has any record of illegal activity or unresolved complaints.
You may have your own business idea or you make decide to buy into an existing business opportunity. Whichever way you go, you need a business plan that sets out the financial, legal, and marketing aspects of your business. You'll need this information in writing if you decide to seek funding for your business. Get help from lawyers, accountants, or marketing professionals if you need it; there's a lot to understand about starting a business.
If you're going to start your own business, you must have a business plan. Determine what form of legal ownership is best (sole proprietor, partnership, corporation). Are special licenses or permits required? Conduct a market analysis; does your prospective business fill a business need? To qualify for financing, you'll have to show the startup costs and income opportunities.
Eight-five percent of home-based businesses are still in business after three years. It takes a lot of work, but the opportunity is there. Do your homework and take your time and you too can work where you live. - 15485
About the Author:
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