Home businesses have always been a way to create extra money. Some real benefits of these businesses are:
· Allows you to have a flexible schedule, whether you work part-time or only a few hours a day in your business
· Savings in fixed costs, by eliminating costs of a normal business, such as rent of a local, or payment of salaries (as there are no employees)
· Reduce the normal transfer time in a business, because the company is located at your home
· It can be developed in person (physical business) or virtual (by phone, online)
There are many things involved with running a business, including buying supplies. A home jewelry creator would need wholesale gold filled jewelry supplies, for example.
So far it seems to be an attractive business opportunity; however, the reality is that not all initiated businesses are successful. Certainly, when using the home as a workplace, money and time are saved, but some problems to be faced are:
· Having a bad location greatly affects the home business
· Not having enough time (or having a fixed work schedule) tends to lower sales
· The absence of a separation between house-work, can cause family and personal problems
· There is a tendency not to take these businesses seriously by the entrepreneur
Therefore, the main tip for starting a successful home business is to define your resources.
Before starting a business at home (even before the business idea), it is necessary to define the available resources, both in relation to money, time, personnel (human resource), education and experience.
Despite reducing their fixed costs, capital is needed to carry out activities such as purchasing inventories, purchasing machinery, refurbishing work areas, paying for services, etc. The exact amount can be defined during the financial analysis when making your business plan.