How do I know which venture is the best one for a home-based business?

Written By Steps To Faculty Published May 31st, 2010

Running a business out of your own home can be a wonderful opportunity – but it can be problematic, too. However, there are some simple steps that you can follow to determine if the venture you have in mind is one that is really best-suited for your home-based operation.

Step 1 Will your venture require the creation of a formal office space?

Clearly, working via the internet and being a professional consultant demand very different levels of formality; in the latter case, it may be necessary to go to the trouble of creating a formal location in your residence where you can meet with professional clients directly. Depending upon the venture you have in mind, it may not be enough to simply have a modest office space in your home; you may, depending upon the needs of the clientele and depending upon the image you believe you must convey, have to resort to creating a formal greeting area or an area where you can converse about business – not least of all because not everyone will want to do business via the internet. Thus, you have to carefully assess the modifications your new job may encompass and decide if that is something you want to pursue.

Step 2 Do I like working odd hours?

It may come as a surprise to some, but working from home can actually lead to longer hours as well as to unexpected hours; after all, because you work from home, many clients may decide that it is quite alright to contact you with work at peculiar hours – or to expect you to work at peculiar hours. Additionally, you may find yourself in a situation wherein you are working strange hours because of the basic rhythms of the venture; in other words, if you are working via the internet with clients in other time zones, work may filter in after supper hour or very early in the morning – and you must be responsive. If you enjoy odd hours, then you will have no trouble with internet-based operations conducted from home; if you prefer a more conventional routine, then you may want to reconsider the sort of home-based operation you run.

Step 3 How much to do you value seeing your customers face to face?

In a home-based operation, depending on whether you are into contracting work, consulting work, or internet-based work, you may find yourself dealing with clients you never actually see; you have to ask yourself if this is something you can endure. Specifically, not everyone wants a situation wherein they cannot see their client on those occasions when bills have to be paid or when problems arise. If you have no difficulty with this, then working via the internet may be just fine by you; if not, then another sort of home-based business may be the way to go.

Running your own home-based operation is quite a task, but it has clear rewards. The key, however, is to ask yourself what modifications you are willing to embrace in order to see any business venture through; if a home-based venture takes you outside your comfort zone, then you need to reconsider things.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.