Types of Businesses

• McKenna71, Stock.Xchng
  
  Ideally, the business should be something that interests you and in which you have some skills. If you are not a good writer, becoming a freelance writer probably isn't your best choice. Consider what you do in your spare time. Also consider the economy. Not every type of business does well in economic decline.
  
  

A DIY will require lots of prep work.

• Consider the finances and the local economy.
  
  You can start a business from scratch. You will be in charge of doing the work, the accounting, the marketing and the promoting. It may cost more to initially start this kind of business than a franchise. If you bought a franchise, the companies have done the preliminary work for you, and have businesses in a box that you can develop. Examples are Avon and Mary Kay.
  
  

Home Business Ideas

• E-commerce offers the chance to sell virtually anything.
  
  In July 2009, Entrepreneur magazine suggested some home businesses that might be viable even in poor economic times. E-commerce is rapidly growing. If you can invest a little and buy something like shoes, clothing, accessories or electronics in bulk, you may be able to mark it up and sell it online. Lawn-care services are always needed. If you don't mind sweating and working in yards, consider this as a business opportunity.
  
  

Home Business Warning

• Research the opportunity thoroughly.
  
  Beware: there are scams that lead you to believe you can make great money in shady ways. If it sounds too good to be true, it is. Research any home business idea thoroughly and never give anyone money if you're not sure of what you're getting.
  
  

Getting Started

• You're on your way.
  
  Write out a business and marketing plan so you can see how long it will take you to make a profit (probably not right away). Develop a budget and decide if you need to take out a loan to pay for your costs the first few years. Invest in accounting software like QuickBooks so you can easily manage your finances and be ready for tax season.
  Also consider joining local networking groups so you can talk to other entrepreneurs.