Switching to a Home Based Business

More and more individuals are leaving their corporate jobs to start a home based business. This trend is further magnified by the vastness of the Internet and its ability to allow virtual offices to exist anywhere.

Many parents make this switch to be home with their kids. Older adults use it as a transition into retirement. Even some new college graduates with their strong technological skills are finding a home based business as great way to transition into the workforce.

Whatever your reasons, there are some factors to consider to making this switch a successful one.

1. Do the research! Head to your local library, there are a ton of books on working at home and home based businesses. While you are there, check out some books on the type of work you plan to do too.

2. Before you launch out completely on your own, see if your current employer or a past employer may let you telecommute. This will give you some flexibility without all the risk of a home business.

3. If telecommuting is not an option, still use your past contacts and network to get a foot into the home business door. Referrals from people who know your work history are the best way to find new clients.

4. Use the Web for networking and research. Find forums geared towards those in your chosen business. Research your local state laws and regulations. Learn marketing and business techniques.

5. Write out a business plan. This does not have to be formal; however, you need to have a plan of action to be truly successful.

Now you have the basics in place, it is time to get started. If you are worried about finances during this major shift, work part time temporarily. This will give you some stable income as well as the time to get your business going.

Related Articles:

*Home Business Blog

*How Do You Know If You’ve Got a Good Idea?

*Start up Costs