There are a lot of reasons to start your own business from home. The freedom from the corporate world, the ability to make your own schedule, the opportunity to do something that you love for a living are all lures to start up your own business.
Having a heads-up about some of these areas can help you avoid some of the pitfalls of the new business owner, and may help to save money and keep the funds coming in in the future.
Don’t Quit Your Day Job Yet
This is the cardinal rule in starting up a home business.
You will inevitably make misstates, and you will likely have to cut into your market through competition by offering lower rates than you could otherwise expect to gain. It is important that you keep some kind of income flow in order to succeed, so you should not quit a regular job until you are absolutely positive about your new business’ potential.
Assess your situation after you have been operating for a year; do you have an established base of clients? Is there a potential for more growth? Will the time you gain from leaving your regular job and concentrating on the home business allow you to make greater profits?
If the answer to all of these questions is yes, then it might indeed be the time to concentrate solely on your business as your only source of income.