How to Find the Perfect Work at Home Opportunity

So, you're thinking about going solo and working from home. You're fed up with the corporate jungle, your commute is too long, your work is under-appreciated, or you simply want to spend more time with your family. Great! Join the millions of owners of home-based businesses. But, before you make the leap to the "self-employed," you need to find an opportunity that will satisfy your needs.

Steps

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    Identify and list your reasons for wanting to work at home. From this list, determine the characteristics of a viable opportunity. For example, are there any limitations on the hours you can work, or the geographical area your business can cover? How much space can you allot to your work area? Will you have quiet and privacy to properly conduct your business?
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    Analyze your strengths and skills. What are you good at? Do you have any hobbies that could be turned into a business?
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    Analyze the marketplace in your community. Are there any needs in the community that are not being met? Are there any services or products you could provide that are not currently available?
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    Analyze the market from a broader perspective. Is there anything you could provide to the country, or even the world?
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    Calculate the amount of capital you have available for the business. Assume that you will not receive income from this business for at least one year, so deduct at least one year of living expenses from the amount of cash you have available.
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    Research-Explore-Examine. Spend time on the Internet, reading periodicals, and talking to people. Find out what is out there. Use networking sources such as newsgroups, forums, your local Chamber of Commerce and Rotary Club, etc.
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    Make a decision. Decide what type of business you would like to start.
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    Start Slowly. If possible, start your new business before you give up your day job. Make sure you enjoy it, and confirm that it has potential.

Tips

  • There are certain tax advantages to working from home. Check with your accountant or tax professional.
  • Make sure that you have the support of your family before embarking on the venture. A home-based business will impact the people you live with. Establish rules, and get family buy-in, before you proceed.
  • Maintain regular work hours. Avoid the distractions of the household.

Warnings

  • Beware of Internet and mail offers to help you start your own business. Typically, they offer to send you a kit with everything you need to start your own business for a fee. Many of these are scams. Avoid them.
  • Owning your own business can be very stressful. Take extra care to eat healthy and make time to exercise to avoid health problems.

Sources and Citations

Article Info

Categories: Working from Home