by Tony Santos

Created on: December 29, 2007

Starting a home business can be daunting, but it doesn't have to be. With the right planning, self-discipline, and some ingenuity, it can be fairly painless to generate a tidy profit from home. It also takes a solid self-awareness of your abilities, your home situation, and your resources.

Before undertaking any business venture, let alone a home business, you should should put yourself through a complete self-evaluation. Do this to determine if you are up to the task. Ask yourself several hard questions and answer them honestly. Many people who start a home-based venture often don't take into account many factors and issues that they discover later. The result is a hectic, stress-filled homelife and a business that can careen out of control. Assess everything before you lift a finger to start your business.

Among the more obvious questions you'll want to ask yourself include these:

1. Am I qualified to run the business?

This is a fairly straightforward question, either you are or you are not. Who better to determine that than you? Do you possess the skills needed to not only provide your desired services competitively, but also operate a business on top of it? Do you have the patience and flexibility to roll with the punches? The path a home business takes is seldom a straight line. There will always be peaks and valleys. Do you possess at least basic marketing skills? You're going to need them, and learn much more as you go along.

2. Do I have sufficient capital to launch the business?

Even though you can start a home business on a shoestring budget, you still need sufficient capital to get your business off the ground. Some of the costs could include equipment, inventory, materials, advertising, stationery and marketing tools. You should know exactly how much money you can put into your business, and how much capital you will have available to sustain it until you start generating business. Don't have a whole lot of cash available? Consider your credit cards. Spend wisely and your credit cards can give you the leverage you need to launch and grow your business.

3. Can I prepare a business plan?

Many home businesses are launched without a business plan and that's a mistake. A business plan will provide you with a blueprint for building the business. The plan will allow you to take into account all the costs and factors involved to determine your business' profitability and viability. A business plan also gives you a plan for future growth. Let's face it, if your

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