Question #1: do you have the motivation? You need to think about this before you go any further. Working from home can be a great thing but it requires discipline and motivation. Working from home sounds great in theory because of the perks or advantages that it offers like being able to work in your pajamas, but realistically this is just like any other occupation you need to be able to buckle down and get the job done or you will not get ahead.
2.) Will this be full or part time? You need to think about this seriously because you don’t want to quit a current position until you are feeling really comfortable with your new business. This can affect other things such as your insurance situation as well. This can be a long term solution so make sure you are not jumping in to quickly, if you do you may not be ready and you will find yourself right back where you started. If you do decide to jump in with both feet do you have the financial reserves to back you up if you need it?
3.) Do you have the skills? Do you have what is required to do the occupation that you are looking to get into? Have you worked in this industry before? What makes you different or sets you apart from you competition? Do you have any certifications of licenses that will give you the credibility you need. Make sure you are prepared, because failing to prepare means you are preparing to fail!
4.) Don’t get discouraged! Sometimes it can take awhile to find the right type of business to fit your style. There are thousands of options out there to choose from so you may have to try a few before you find the one that will work best for you. You might try asking for help if you are looking for ideas.
5.) Do you have a plan? Once you have decided what industry you are going to be in you need to have a business plan in place. This will help keep you on track and make sure you have something to show if you need to find some startup capital. There are many different resources out there to help you with this . The internet is a great resource to find some templates for a business plan. You may also want to check out websites such as www.entrepreneur.com and www.SBA.gov for this and other information.
6.) Do you have the space? Make sure that you have a separate work space for you business. Working at home can easily become mixed with personal business. Do you have enough space to work comfortably on a day to day basis keep in mind you may have to store inventory depending on what type of business you are going into.
7.) Are you registered with the right people? Working from home is just like any other occupation so you need to make sure that you are legal and registered with the proper state and federal agencies. Do your own research and make sure you find out from other people in your industry who you need to register with. A good place to start would be with your local Chamber of Commerce and Secretary of States offices. They may be able to help get you headed in the right direction.
8.) Do you have a team? You may be a one man shop but you need to make sure that you have a team to support you. What I mean is to have the right financial and legal people behind you to make sure you are getting the right information when you need it. You should have an attorney and a Certified personal accountant that you trust and feel comfortable will give you sound advice when necessary. You don’t need to employ these people and have them on staff, just have access to them when needed.
9.) Are you ready to work hard? Working from home offers many great rewards but you may find that you are need to spend more time on your home business then you ever did on your current position. Make sure you enjoy the industry you are going into because you will be more likely to spend more time on your business if you enjoy working in the industry. Don’t be afraid to role up your sleeves and put in the work because it will be directly related to how successful you will become.
