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12 Steps to Home Business Success

I am going to be my own boss. I will be the one to call the shots. I will work at my own pace and time. I will have free time in my hands. I will spend quality time with my loved ones. I will succeed. I will enjoy my life.

So, you have decided to venture into a home business - where you work for yourself and greatly reap the fruits of your labor. However, there are some bad news and good news that you should be aware of.

Bad news: Studies show that 80-90 percent of home businesses fail.

Good news: Your business can be among the 10-20 percent that actually succeed!

How? By following the "12 Steps To Home Business Success." And you can do that with PEP!

P - Preparing⁄Planning Extensively

When you do decide to venture into a home business, the very next thing to do is prepare for it. Prepare a business plan. This will be the very foundation of your business. You can do this by following these steps:

1. Start with the basics.

What type of business would you like to get into? Would you be selling products, would you be offering services, or would you like to try both? In any case, you must decide on which particular product and⁄or service you would want to focus.

Have difficulty deciding? Here's a simple but sure-fire tip: Focus on what you know and enjoy.

If you have a talent in writing and editing, you can venture into an editorial services business. Are you into graphic arts? Can you design⁄layout brochures, business cards, newsletters, etc. using your computer? Then you can get into desktop publishing.

Do you know how Bill Gates, the richest man in the world, reached the pinnacle of success? He decided to venture into the one thing that he loved - computers.

So, whatever type of business and whatever product or service you decide to start with, always make sure that you are familiar with it and that you have passion for it. The first will save you time, the second will keep you motivated.

When you are already decided about the type of venture you want, think of a name for your business. Make sure that it is unique, easy to remember, and professional. Of course, also make sure that it is significantly related to your business.

2. Gather your resources.

You cannot put up a business without a capital. This includes the monetary or financial capital, material capital (supplies, gadgets, etc.), and manpower. Do you think you are prepared to invest all this into your business?

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