4 Things You Must Consider Before Starting A Home Business

There are 4 things you must consider before starting a home business. There are some things that you absolutely must have if you're serious about running a business and others that you'll want to get later.

If you want to make and maintain an income you must put in the work, especially in the beginning. Then later as your finances allow, you can automate or outsource work to gain some time freedom.

Since you are building a business all normal business principles apply. You need a plan, a budget, and you need to keep records. The internet can help to cut the time frame that it takes to achieve profit but it does not change the basics of building a successful business. To do this you will need certain tools.

Tools You Need

1) A computer - Be sure your computer has adequate memory available and a moderate to fast processing speed. This is your number one tool and it has to work for you to be effective.

2) An internet connection - A high-speed (Cable or DSL) internet connection. If you intend to build a progressive business, dial-up just won't work. You can start that way but a faster connection should be one of the first upgrades in your budget. Ensure that a Wi-Fi switch is available on your computer to allow you the option of a cable and wireless connection.

3) Antivirus and spyware protection - As you will be online much of the time, you need protection against computer viruses and spyware so that your computer is always up and running when you need it.

4) Printer - You'll most likely consider getting a printer. The lower the initial cost the higher the cost of replacement ink or toner. So, the only person likely to benefit from a low-cost printer with high-cost consumables is someone who prints very little, and stretches out the time between replacements as long as possible. Unless you're one of them, you should check a printer's ink or toner costs before you buy, to avoid budget-busting surprises later.

5) Office supplies - you will need regular office supplies such as pens, paper, file folders, calendar, etc.

Time and Money

The first thing you need to do is figure out exactly how much time and money you're going to spend on your business. The speed at which you can build your business is determined by how much time and money you can invest on a regular basis. You should be able to put in a minimum of 10-15 hours a week and at least be able to invest $25 a month to have any chance of building a successful business.

Next you have to decide what kind of business you want. Actually think about this. Determine what you like and your expertise and build around that. Don't try something just because there's a lot of money to be made. You'll either go broke quickly or have an overwhelming learning curve.

Choosing a Business

Regardless of appearances from looking at countless advertisements, the real money is in finding your niche and applying general marketing tips to that limited area.

On a sheet of paper, draw 3 columns. In the first column list all the things you enjoy doing. This could be golfing, sewing or knitting, playing a musical instrument, etc. List exactly what you look forward to doing in your free time.

Use the second column to list things in which you have expertise. It could include courses you've taken, work experience, experience with animals, hobbies, etc.

The third column will be a list of things that you put together from asking your friends and family what they think your strengths are.

Anything that shows up in all 3 columns is an area that you should look at and consider for a business. It will take more research to make sure you've found something profitable, but you'll be well on your way to building a business in an area that you like and for which you have a talent.

Online Business Tools

The three basic online business tools you'll need to get going online are a reliable web site that is easy for you to update, a hosting company and a way to gather subscribers to buy your products. This website will be your office online and your base. It will be the place where you post information on your topic for people to find. You'll then be able to direct them to whatever program(s) you've decided to promote.

The first step in getting your web site online is to buy a domain name. A domain name is like a "store" name or your brand name. Choose one that best reflects your site or business, for example, yourname.com or yourbusinessname.com. A domain name that matches your brand name is very important.

You can use the world's largest registrar of domain names, which is GoDaddy.com or choose one of the others. When deciding on a domain name you should act quickly as the one you want may be available at the moment you check for it but disappear in an instant. I suggest you have a list of several names you may want in order of preference, so that if one is available you can buy it on the spot.

Then you'll need a good hosting company in order to get your site online where people can find you. HostGator.com is one of the major ones. You can shop around and compare before deciding.

The final thing you'll need is a way to gather subscribers. Most people will only stop once even if they bookmark your site because they loved it. That's why it is important to gather them into your subscriber base by collecting their email address with some kind of offer. It can be a free book, a series of reports on your topic, or even a trial product (depending on your niche). You'll need a good autoresponder for this.

With an autoresponder you can follow up with your prospects and send them updates about a new article you've posted, that special deal you've located or just more free tips on your topic. This will help them to remember your site and if they liked it enough to subscribe originally, they'll likely return because you've reminded them that you exist. There are many on the market, including AWeber, Traffic Wave, Get Response, and iContact. Research them and compare the benefits of each before deciding on one. Carefully consider what will suit your needs and budget.

AWeber, considered the number one autoresponder, can become very expensive in the long run, as the cost increases over time. As your list grows the monthly cost goes up and an additional fee is charged at certain intervals. Once you get a large list, you may want to change to another service due to costs. To switch can be even more expensive because you must have everyone on your list re-opt in to the new autoresponder, and you'll lose most of your people.

If you wish to go into affiliate marketing and sell digital products, there are literally thousands of products available. Clickbank and Paydotcom are two of the largest programs that allow you to sell other people's digital products. To maintain credibility, be sure to check out the products you want to promote to be certain they have value.

These are 4 Things You Must Consider Before Starting A Home Business online or off.

For more tips and information visit: http://marketingsuccessreview.com

I'm an entrepreneur with a focus on internet marketing. I've been in offline MLM in the health and wellness area, and I am now focused on building my Internet business that includes blogging, social media and affiliate marketing.