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What Are the Chances of Home Business Success?

home based business, business, advertising, marketing

If you have been thinking about starting your own home based business then chances are that you have a lot of thinking ahead of you and careful planning is suggested. Owning a home based business can be challenging and rewarding.

Reasons Why Many Home Based Businesses Fail:

Poor Planning - You must set aside time to map out an outline of your business goals.

• How much money are you looking to make?

• How many hours can you devote to your home based business per week?

• How will you fund your business?

• How will you manage financially until your business begins to flourish?

• How will you manage time for yourself, the business and family?

Inadequate Funds - People sometimes start home based businesses because they are low on money and are looking for ways to make ends meet. This means that a person in this situation will need some kind of back up support or means to fund their cause.

A Few Ideas:

• If you have an interesting concept or idea draw up a business plan and present it to various businesses in your sector outlining why funding your business would be a wise investment idea?

• Approach banks for small business loans

• Register a trade name or corporation and apply for a couple of small business credit cards and be sure to budget carefully

Lack of Advertising or Marketing - Make sure you determine the means in which you plan to market your product or service. Creating a Website and expecting people to come flocking to it will be a major let down.

• Do you have enough capital to use television, magazine or newspaper ads to get your home business noticed?

• Print out flyers and post in local neighborhoods

• Register your business in the yellow pages

• If your planning to create an e-commerce business can you should make sure that your Website is optimized for the major search engines such as Google, MSN, and Yahoo.

• Google has a program for people looking to advertise their businesses on the Web called Adwords and there are other companies that offer a similar service.

• Use Ezines to market your product. Some of the larger Ezines reach audiences as large as 10,000 per month.

• Write articles and submit them to Ezines and Website’s that accept article submissions and make sure you add links on your articles pointing to your Website.

Loss of Interest in Project - choose your home business based around things that you enjoy doing. If you enjoy writing become a freelancer. If you like to party become a Party Planner. Lovers of arts and crafts might want to consider creating a Website surrounding this idea and offer craft kits that can be purchased or items that you have created personally.

Bad Business Structure - If you have not considered all of these aspects and more then you have a bad business structure that could crumble on you at any time or your home based business may never take off at all. So it’s really worth the time to plan ahead so that you can eliminate the odds of failure.

Copyright © 2006 Affiliated Publishing
Published: 2006-04-25
Author: Treci Cauthen

About the author or the publisher
Treci Cauthen: Owner of Affiliated Publishing focused on SEO, health & fitness, travel and creative copywriting. Prior experience in
proofreading, research and data entry/processing. I guarantee prompt, efficient, error proof work and all content is original. I look forward to working with you!

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