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MUST have a presence there even if it's just a simple website, no more than an electronic business card. Spend a small amount on your own domain name (one that links to your business and is easy to remember) then use a simple site-writing package. With a bit of practice, you can set up your own site in a couple of hours.

YOUR PLACE OF WORK

Can you do this from home?

By definition, a home business is normally run from home. But will you do all the work from there, or will you need to move out and about? If you are making those business lunches, you will need to deliver them. Do you have the right transport for that?

Will you need more space?

If your home business is as a writer, then you just need room for a computer and a printer. A spare room would do, or even the corner of the kitchen or dining room, to start with. However, if you are going to be cooking, sewing or making anything, you will need enough room to spread out your materials and leave them out while the job is in progress. You may need to re-organize the house, or even build an extension.

FINANCIAL QUESTIONS

What price will people pay?

This should be the basis of your financial planning. Any product or service is ONLY worth the amount that people are willing to pay. So, you need to be realistic in identifying what you can charge.

Will it make money?

Initially there will be a lot of expenses, especially if you are selling a product for which you need to buy materials. So, don't expect to make money straight away. Any profit will probably have to go back into supporting the business. However, after a while (and that might be three, six or twelve months), you should be making money out of this business. If not, then it's nothing more than a hobby.

Can you afford to wait that long?

If you are not going to take a salary to start with, then you need to know how you are going to live in the meantime. Are there other people in the family bringing in money? Do you have savings to cover the period?

What about your family responsibilities?

This is tied in with the previous question. When starting out in business, people are often willing to make personal sacrifices in the short-term, but is it fair to ask the rest of the family to do the same? Can you afford to do this? At the very least, make sure that everyone else is on board with the idea.

Do you need a loan?

Although it is more comfortable to start a home business without taking out a loan, sometimes it is inevitable. If you do need one, then this business plan is

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