The idea of owning your own business and working from home can have a LOT of appeal……

* You are your own boss

* You set your own hours

* YOU decide what is meant by “business casual”

* Work/life balance is something that YOU control

* Do what you want to, when you want to

There are, of course, responsibilities that come with all of those things….you have to actually DO the work! Sometimes its just the idea of having a home-based business that is sexy, not actually running one. If you are serious about finding a home-based business, it can be downright confusing. A Google search for home-based businesses will reveal an endless procession of opportunities for you to make millions. They all sound soooooooo good and so easy. Which is the right business for you?

If you are ready to make the leap from sexy idea to real-life decision, here are seven incredibly useful questions that you must get answered before you make the necessary investment of time, money and effort needed to make any home-based business thrive.

1. Is this something I can get excited about and be proud to represent?

YOU are the only one that can answer this question. It will be your authentic passion and belief in the business you will be running that will carry you through the challenging days, weeks and months ahead of you. If you believe wholeheartedly that the product or service you represent has outstanding value, then that belief will shine through in everything that you do as you market your new business. Be sure the product/service is right for you before you attempt to make it right for others.

2. What is the market for this product/service?

Even the (seemingly) greatest product in the world will fail if there is nobody interested in buying it. Take a very realistic look at the market for the opportunity you are considering for your home-based business. Is it growing or staying the same…..or shrinking? Who are all the possible users? Are you trying to sell ice cubes to Eskimos???

3. What is the competition for this product/service?

Who truly competes with this opportunity?? Take into account all aspects of the home-based business opportunity and ask yourself What can match or exceed this offering based on the overall value it provides? Are there many, many competitors in this arena?? How much will I have to try to differentiate myself from the competition to get my message across? The stronger the message of value, the fewer the competitors, the better off you will be.

4. What guarantee does the business offer?

Do they offer any sort of satisfaction or money-back guarantee to their product or service? If so, how long is the guarantee available to the customer? If the company you are considering partnering with doesn’t believe in the value of its offereing, why should you? Also discover who is responsible for refunding the end customers money. Your profits will disappear quite quickly if you are on the hook to get an unhappy customer’s refund back to them.

5. Is there training available on the product/service and how to market it?

You can have an absolute love of the home-based business you are starting and all the motivation in the world to market it, but if you don’t have a proven process you will end up like the majority of people who start a home-based business….losing money. Be sure to explore the training that is available, both quality and quantity. If marketing your home-based business to others is part of how you will make your income, be very specific in asking about the marketing training you will receive.

6. What happens once your home-based business is up and running?

Your path to success will be much more challenging if you are on your own after any initial training. Find out who you can turn to for answers and general support. Be sure the business has some type of forum or community which you can utilize as a resource once the start up phase of your new venture is complete.

7. What will my investment need to be in order to enjoy true success?

Depending on the business, some opportunities will have minimal start-up costs while others are much higher. You must consider not only what you are willing to invest, but how quickly you will be paid and how much you will need to sell in order to recover your initial investment. Look to the on-going costs as well as the start up costs as these can add up and make what initially looks like a small investment into something much larger over time. You will also want to factor in any inventory you must carry to run your business successfully.

Getting the answers to these questions and comparing opportunities against one another will take some of the emotion out of your decision. They are not the only ones you might ask, but they will help lead you to the best home-based business for you.

Learn more about home-based business. Stop by Steve Sheeren’s site where you can find out all about personal development and what it can do for you.