Many folks dream of having their own business; even if it’s small in size to start with, due to numerous personal reasons. Although, it’s convenient that you can function in the privacy of your abode and that too at your own leisure time; however, it’s not all that simple. Most of the home based business owners fail to look into some of the common mistakes that they might make.
Below are the top 8 blunders that most of the new entrepreneurs are most likely overlook.
1. Failure to do market research. Many businesses, whether home-based or a large corporation, fail because there is not an adequate market for their products or services. A comprehensive analysis of the business is especially important for home businesses, since some businesses lend themselves well to a home-based environment, while some do not. If your business requires you to see clients, you must first check how your family (and neighbors) will react to the comings and goings of people in your house. If you have employees, check the zoning and parking laws in your area. Before starting any business, it is necessary that you conduct a thorough market examination and market analysis.
2. Passivity. If you are passive, your best bet is to work for someone else. Unless you can immediately afford to hire employees, you may start out as a solo operator. As a one-man team, expect to do everything – from writing your business plan, manufacturing your product, marketing and selling your products and services, doing bookkeeping chores, and a million other tasks! Remember, you have only yourself to rely on! While you may not be an outgoing person, you need to show aggressiveness in getting the word out about your business. No customers mean no business! Passiveness will not get you anywhere in business......read more http://news.bytrade.com/info/922-Home-based-business-mistakes.htm