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10 Questions Before Setting Up a Home Business

Is Setting Up a Home Business The Right Answer For You?

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10 Questions Before Setting Up a Home Business
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Getting ready to set up a home business? Before going any further, answer these 10 questions thoughtfully. Your answers will prove vital in determining whether or not to proceed in setting up your home business. Sure, it may seem arbitrary to spend time answering questions when so many other tangible tasks must be completed, but this step is truly the most important part in the whole set up process. Why? You want to make sure your home business dreams match with your current reality.

  1. Why do you want to start your own business?

  2. What is your product offering and what makes it better than the competition?

  3. Who is your customer?

  4. How will you afford the start-up costs of your business? (All businesses have some start-up costs.)

  5. When will you work on your home business - especially if you are a stay-at-home parent?

  6. Where will you work on your home business? (Is there a dedicated home office space or will you share common area with your family?)

  7. Are you comfortable self-promoting? (i.e. will you actually be able to sell your product or service?)

  8. Are you a motivated person by nature? (In home business, there is no one standing over you to ensure your work gets done. It takes pure will power and self-motivation to run a successful business out of your home.)

  9. What does your family think about you working out of the home? (Family support is critical.)

  10. Are you willing to make the sacrifices necessary in order to spend the amount of time required for a successful home business? (i.e. goodbye “Desperate Housewives”…hello 1:00 am work sessions.)

Once you have spent time contemplating your answers to the questions above, determine if your answers point you towards starting a home business. If so, it is time to move to the next step. Now we determine whether or not your business idea has the potential to be successful.

This article is part of a 10-Step Guide on How to Start a Home Business.

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