So whats the first thing you think someone should when he/she thinks about starting a home business?

Market research definatly, is there room for the service you have in mind, what is your age group, and most important, will people buy it!

Regards
Impulse

Yes agreed impulse. See if there is anything already like this out on the market. If not then you would want to start thinking of how you would advertise this and where and What type of audience will be interested in buying this product.

I would think that you would have to come up with the idea of your business first before you figure out all the time. I mean I would just be like, huh. I'm gonna start a home business and not know what I'm doing it about. But then again, I don't have the time to do it, but if people who have the time they would want to start one without thinking of the idea. It is different for everyone.

Yes, it is diffrent for everyone, and that is why I said, and I quote:


Then I also added that from MY personal experience, and some of the books that I have read, that I got the information from. I never said that what I said above is the only way to start a home business. But if that is how that post made you feel...then I aplogize

Firstly, I'd leave the fact that it's a home business off to one side for now.

The first step is getting an feasible idea.

From my learnings the basics of business is to find a need in a market and fill it. It doesn't have to be something totally new, it doesn't even have to be better. It can simply mean a variation of it.

I've seen many go at it the other way: make a product or service first and then assume customers will want it. This usually fails.

You need to look closely at your target market (a niche) and find a product or service that research indicates the market will want. As an example: one way is to lurk around a big small business forum. See what topics are being posted the most. What topics attract the most attention. One in point: I've noticed from a few forums that there is a real interest in learning how to make money from blogging (if that's possible at all). So seeing that, I would then go about making an eBook or something of that nature and market it.

Once you have your business idea you then move on to the fact that it will be run from home - space, legal structure, tech needs etc.,

That's my 2 cents worth, anyway

thats apsolutly true, finding a niche to target is important, most importantly is researching that niche to find what exactly does it need. And provide it for them.

No just expressing a friendly opinion.

First things first.

No you don't pick a product, a service or even evaluate the market. You must first evaluate yourself. Are you self motivated, a go getter so to speak? Can you work 16 or 18 hours a day in the beginning? Are you ready to become a "prisoner" in your own home? Theirs no one else to answer the phone, take orders, tweak your site, do marketing, or pay the bills. Then there is the isolation. No one else around. You can't even call in sick! Most business will fail in the first 3 years. More in the next five years. Most people are not even successful until their 3rd attempt. Can you deal with failure and rejection? Do you learn from your mistakes?

Don't fool yourself. It's tough. It's hard. Money's tight, but when it works it's beautiful and nothing is better than to say than, "This is MY COMPANY!"