Do You Have What It Takes to Start an At-Home Business?

Working at home seems like you are living the dream. But there is a lot of hard work involved, especially if you are creating an at-home business. Whether you work as part of a franchise, or have an original business, there is a lot that does into it. So are you cut out to it? Here are some questions you might need to ask yourself:

If this is someone else’s business, is it the real deal?

There are many reputable franchises and business opportunities out there, but unfortunately, there are some real scams preying on people as well. You need to do some research – the Better Business Bureau is a good place to start – and see how well others have done.  Also, use the internet to check out others’ experiences. And if something seems not right, don’t invest your money.

What will you be selling/doing?

Is it something that people are interested in buying or using, or is the market already saturated? Can you really make money at it, or is your profit margin nonexistent? You need to be honest with yourself about what you will be doing. And if you can’t be totally objective, you should talk to someone – a family member, a friend, a mentor – who can look at it with an open but realistic mind.

Can you motivate yourself?

If you are starting an at-home business, you may get some support from a franchise, but you are going to have to be able to motivate yourself everyday. And some people have issues with that, especially if they are used to working for a boss. After all, you won’t have a boss telling you how to do everything. You are going to have to figure out a lot of things yourself.

Are you financially able to do it?

You don’t want to go into debt to start an at-home business.  So you should be able to either finance it yourself and concentrate on just that, or keep another job to pay the bills until you get going on it. By doing so, if things don’t work out, you don’t have a financial catastrophe on our hands.

Can you balance the business and your family life?

Do you have a home office? You should try to carve out a space for you, even if it’s just a nook in your home. Life coach advisors say that it will keep your work-life balance in order by doing so.

Lisa Swan writes on executive, life and career coaching topics for MeredithHaberfeld.com.