How to Start a Home Based Business

How to Start a Home Based Business How to Start a Home Based Business Have you ever toyed with the idea of starting a home based business? If you were up this morning to catch the news, you may have watched the Today Show’s interview with Heather Cabot who is an Editor for Yahoo’s Web Life, a community that gives tips and advice to web-based small businesses. The show started with a quick review of a successful home based business “Dapple Baby” which is a company started by two Mom’s, Tamar Rosenthal and Donna Rubenstein, who gave up their careers in law and marketing to fulfill their dream of starting their own company a year ago. Dapple Baby sells natural based cleaning and baby care products. These entrepreneurs talked about what strategy they used to become successful with their business concept such as starting an online store and networking with their friends, family and other social networks to promote their products. Apparently their formula works, as their products are now being sold in stores nationwide. Rosenthal and Rubenstein stated that “the key to being able to bring any business idea to reality is persistence.” Then Heather Cabot, Editor of Yahoo Web Life, and the successful owner of “The Well Mom”, provided some hints and tips for those who might want to start their own business. Heather emphasized that “Passion is the Key â€" it’s a marathon, not a sprint!” Starting a Home Based Business: The Numbers While she admitted that the results of the Dapple Baby venture are atypical, she talked about how any business can fail without persistence. The statistics she gave were sobering: It takes at least 3 years before any small business will turn a profit. It’s usually 5 years before a home-based business is able to reinvest. Over 1/2 of all businesses never make it to that point. On the positive side, however, Heather stated that it’s now easier than ever to start a business online â€" you don’t have to be a “techie” to build a website or start a web based business! Because of the internet we have many helpful resources at our fingertips. Heather gave some tips on how to set up a home-based web business (you can start on a very small budget): Go to “Yahoo Small Business” â€" choose a design for your website and set up a hosted website. Secure your brand name (do a search to avoid trademark issues) with a domain name. Add blog functionality to your website. Blogging is a form of promotion and it’s important to establish a presence on the Internet. Get involved with online social networking resources to make yourself more visible. Heather mentioned that it doesn’t matter what kind of business idea you choose â€" you need an online presence to make it more successful. Apparently, it’s been working for Heather as she has successfully managed to work from home for the last 3 years. Readers, what kind of home based business would you start?