Before Starting a Home Business

Posted on May 9th, 2014 by Freebie Felicia

home business

Are you thinking of starting a party business. They can be very appealing. You get to “make your own hours and be your own boss.” They also take a good deal of effort.

Investment: Money and Time

One of the first questions that you need to ask yourself before starting a home based business is how much money can you invest in it. It doesn’t matter if you are trying to build a make up inventory or make your living room a showcase for candles. It will take money. You may be entering into a business plan that doesn’t require an inventory or even a high amount of money to start up. Eventually, however, you will either need to or be encouraged to invest in your venture. Would you be able to move the inventory and get some of your money back if things didn’t work out as you planned?

Second you need to ask yourself how much time do you have to invest in your new business. Will you be selling at parties? How many evenings a week do you intend to be working? While it is true that you will be able to make your own hours, you will still need to work. Plan out a schedule to see what times you need to be working and when you will be spending time with family. Keep to your schedule.

Exclusive or Overly Available

Next you need to consider your product. Most home based business products aren’t considered needs. It will be your job to determine how to build a client list. I promise you no matter how much make-up your sister wears, she will only buy so much of your product. The same goes with all family and friends. You also need to determine the number of people in your social circle who are also selling your product. You don’t want to end up trying to sell your product in a community already loyal to another sales person.

Sales Education

Some home based businesses you join offer sales education. They provide tools for learning and running your business. Some provide websites and planners. Others provide role playing. Yet others provide motivational gifts. See what education is available to you in your new business and how often it is available. You may need more than a monthly class when starting up. Also see if your business provides any type of mentoring program. People with experience in your business can be very helpful.


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