By working full time and earning full time salary, you can also use part of your salary for some of the expenses in the business. Running a business would have the risk in low and peak season of sells, and holding onto a salaried job can really help you make it through the slow season typical of a new business.

Personal pressure
When you first step your foot into your own business world, there is no escape. As a business owner, you have no choice to take accountability to all business risk that it may happen. As a home based business owner, there will be nobody working for you, you are the director, you are the accountant, you are the marketer and you are the customer service for your business as well. You will be facing tons of pressure coming from different aspects and thus you have to learn to cope with your pressure well, to avoid you yourself as the business owner falls in sick, and your business will also falls into a stoppage point.

Sacrifice your own time
Especially during your business start up stage, you will have to sacrifice a lot of your personal time to get your own home based business running. If you are running a moon light home based business, you may have to sacrifice your weekend or holidays, even for some active business owners, they will work for their own business even after their full time job. Working 30 hours extra a day to get your things done is a must if you are serious on your own business.

Start a home based business is not as easy as you think, it required hardwork, hardwork and hardwork. Not every person is suitable to start their own home based business, not because they are stupid, lazy, afraid or they don’t want to success, but this business venture require the person to spend lot of time and hardwork to succeed. A home based business owner may spend at least 50-70 hours per week just to operate their business, with little of rest or holiday, and probably with less income than working full time.

As the statistical data suggest, 80% of a new home based business may fail within the first 3 years of business operation. Before getting involve to start your home based business, you have to make sure that you are willing to sacrifice your time and hardwork and do what you love to do, otherwise you will be in the 80% of failing statistical data!

There are also some peoples who close their business because they found a better opportunity to work with somebody else. I won’t say closing of the business is a failure, at least the person will gain a lot of business operation experiences than anybody else.

A home based business fail can be for many reasons, but few of the most important factors are:
1. No proper research
2. No proper planning
3. No financial support
4. Lack of business operation skill
5. Start with a bad business idea
6. Entering an over saturated market
7. Unrealistic expectation
8. and etc.

If you are to start your own home based business, you are possible to achieve your own set of target and goal, but you have to be very consistent and be focus on what you are doing.

1. Strategic thinking – Think out of a box and always carry out research on the targeted niche.

2. Global market perspective – Know the market.

3. Treat give opportunities – Opportunities always come with risk.

4. Industry awareness – Know your competitors.

5. Entrepreneurship skills – Equip yourself with great skills in starting a business.

6. Management skill – Time management, people management, financial management……learn to manage well.

7. Entrepreneurship savvy – You know yourself better than me.

8. Process expert – If you are starting your business from scratch or even buy a developed business, you should know every single process on the business flow.

9. Decision making – Small decision lead to a big change!

10. Leadership skill – You are not running the business alone, you should know how to lead your staff effectively.

11. Self awareness – Be alert at all time.

12. Personal effectiveness – Be responsive to any decision made, learn to be more efficient.

13. Resourceful – Keep learning and improve yourself along the way.

14. Influencing skill – Be confident and influence people with your great idea.

15. Communication – Always communicate with peoples, either your staff, customer or supplier. Good communication lead to a better efficient in business flow.

16. Creativity – Think out of a box, try to be more creative either in giving solution to your customer or developing your business process flow.

17. Courage -Again, be confidence and believe the decision you made to lead you to success.

18. Persistence – Always focus on the objective, and continuously work towards the target, you will find success in one day.

i) Location and space
Other than the zoning regulation, you have to consider the location of your house and the space available for your house. If you are intend to start a car repair business, you would need to convert your home garage into a workshop, it will be a concern if your house is with limited space when you have two or three cars waiting for you to repair. The location also play an important role, if you are staying in a small village where there is no proper address indication, and it will also become a consideration point for the customer to send their car to the town even the price is slightly higher.

ii) Neighborhood
Lets take the car repair service as an example again, i am sure there will be knocking and hammering on the car which would generate noisy sound, would this sound bothering your neighbor? Consider this seriously, if they make a complaint to the local authority, your home based business venture might be in problem.

iii) Security and safety
Is dangerous chemical required to be used with the work? Is the tools or equipments are sefely used according to the manual? Is the waste produced affecting the environment? If customer data is to be collected, how to ensure the data is securely kept? All these issued has to be considered.

All these issue must be seriously considered before you start your home based business, you may not want to invest a huge amount of money before you get all these issues cleared and put your business venture in a full stop at the end of the day.

Every home based business would have a different needs of working space, but to set up a suitable working space for your home business, the key points that the business owner should take into consideration includes:

- Choose a suitable work space from your home based on your business needs.
- Equip your work space with suitable equipments, tools, machinery, furniture and etc.
- Develop your work space securely.
- Develop your home business office with an image suit to your business nature.

Developing your work space with proper planning is essential, not only to strengthen your company image, but an environment suitable for your business balance with the needs of your family is also important.

You are the BOSS

By starting your own home based business, you have the change to become your own boss, you do not have to report to anybody else in your own company, you have the freedom to make decision and you accountable for whatever decision you made, either gain or loss.
By the means of having full freedom, you wear what you want, you start work whenever you want and you work wherever you want. As long as the deal between you and the customer is done and the customer satisfy with the service/product that you provided, you can even work in your house’s bathroom if you wish. Personally, i think the best is you do not need to involve in the office politic.

You have the right to earn more

Start your own home based business may not bring you a good wealth, but in some situation, you have the potential to earn more than what you earn from your full time job. If you work for somebody else, you probably generate more sales for the company by working longer hours, and in return you earn more commissions or OT pay. If you work for your own business, you can probably double up the sales revenue by hiring more people to work with you, if your employee is able to generate as much sales as you can generate during your work with other company, you are doubling up your income. As your home based business is established over time, you can slowly expand the business by generating more services/products and it can greatly increase your personal income and equity.

You work within your own pace

One of the most influence factor to start a home based business is have the ability to work at home. By working at home, you probably have the chance to pick up your kids from school, meet your friends and even wash your own car if you wish. By setting up your schedule effectively, you will have the chance to enjoy more time on your personal interest without losing the business. By starting your own business, you have the change to set up your own home office where you have no right to do so if you work for others. Develop your home office wisely and equip with only necessary equipments.

Tax benefit

This is one of the best advantage in term of financial benefit, by running your own home based business, portion of your utilities bills are tax deductible against your business revenue, the same applied for transportation and education for business purposes. However, you will still have to pay for self employment tax. For more information, please refer to your local taxation department.

Pros:
i) You could save a lot of time in setting up the business.

ii) Business flows are being set up.

iii) You are not building the brand from scratch.

iv) Save time in searching for supplier or vendor.

v) Save time in finding customer to keep the business rolling, but, to expand and in order for the business to move forward, you have to find new customer.

Cons:
i) You have to spend more money than develop the home based business yourself. You probably have to pay for the trademark and copyright cost, development cost, management system cost and so on.

ii) You need more time in maintaining the home based business because you are not the founder and you are not starting the business from scratch, it take time to know everything about the business.

iii) Difficulties in serving existing customer where their behavior and requirement is not known. In many home based business, the customer flow away because or poor customer service.

i) A successful home based business entrepreneur is willing to work long hour with smart thinking.

ii) A successful home based business entrepreneur must be think optimistically, self confident, and have a strong wish to take control of their future.

iii) A successful home based business entrepreneur work according to plan, they believe no planning is planning to fail.

iv) A successful home based business entrepreneur love challenges, they believe experience are gain from challenge and mistake.

v) A successful home based business entrepreneur is able to think positively and willing to accountable to the decision they have made.

vi) A successful home based business entrepreneur like to listen to comments and advices.

vii) A successful home based business entrepreneur is able to optimize their time efficiently, they are well organized.

viii) A successful home based business entrepreneur are proactive when facing difficulties and take accountability to solve problem.