The Advantages Of Starting A Home Based Business By Pamela Upshur At Isnare.com Ezine Articles

Taking the risks of starting a home-based business can be scary and thrilling at the same time. The opportunity to share in the American dream is a tremendous lure. Many people, including those new to this country, may not have the skills for working in today's complex organizations. However, they may have the initiative and drive to work the long hours demanded by entrepreneurship. The same is true of many corporate managers who left the security of the corporate life (either by choice or as a result of corporate downsizing) to run businesses of their own.

Social attitudes have change. Whereas home based entrepreneurs used to be asked when they going to get a "real" job, they are now likely to be asked instead for how-to-do-it advice.

Corporate downsizing has made workers aware that there is no such thing as job security, leading many to venture out on their own. Meanwhile, the work of the downsized employees still need to be done and that is, they are outsourcing much of the work to smaller companies; that is, they are contracting with small companies to temporarily fill their needs.

Nearly half of the small businesses in the United States are run out of the owner's home. These include writers, consultants, video producers, architects, bookkeepers, and such. Many home-based businesses are owned by people who are trying to combine career and family. Don't misunderstand and picture home-based worker as female child-care givers; nearly 60 percent are men.

It is important to know that most entrepreneurs don't get the ideas for their products and services from some flash of inspiration. Rather than a flash, the source of innovation is more like a flashlight. Imagine a search party, walking around in the dark, shining lights, looking around, asking questions, and looking some more. The late Sam Walton used such a flashlight approach. He visited his stores on Mondays, and by Tuesdays every Wal-mart manager in the country knew about it. He expected his managers to use flashlighting too. Every time they traveled on business, they were expected to come back with at least one idea worth more than the cost of their trip.

Computer technology has leveled the competitive playing field, allowing home-based businesses to look and act as big as their corporate competitors. High speed Internet connections, fax machines, and other technologies are so affordable that setting up a business takes a much smaller initial investment than it used to.

Advice for potential entrepreneurs:

1. Work for other people first and learn on their money.

2. Research your market, but don't take too long to act.

3. Start your business when you have a customer. Maybe try your venture as a sideline at first.

4. Plan your objectives within specific time frames

5. Surround yourself with people who are smarter than you.

6. Don't be afraid to fail. Former football coach Vince Lombardi summarized the entrepreneurial philosophy when he said, "We didn't lose any games this season, we just ran out of time twice,"

For those who are wishing to get out of an office building and starting your own businesses, you should focus on finding opportunity instead of accepting security, getting results instead of following routines, earning profit instead of a paycheck, trying new ideas instead of avoiding mistakes, and creating a long-term vision instead of seeking a short-term payoff.

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