Before I help anyone explore the idea of beginning a home business, one of the most important questions I can ask is “Why do you want a home-based business?”

 

That may strike you as kind of a crazy question. Maybe you’re thinking “Well duh, I want to start a business because I want to earn money.”

 

And I’m OK with that response. But I think we’ll get further if we look a little deeper. After all, if you just want to make money, wouldn’t a job be easier?

 

Why do you want to earn money? (And how much do you need to earn?)

  • For bills?
  • For some fun “extras”?
  • To get out of debt?
  • To be able to give more freely?
  • All of the above?

Maybe on top of needing to earn an income you also;

  • Want the freedom of working for yourself–growing your business your way, and setting your own schedule.
  • Love the adventure of creating and building a business.
  • Enjoy networking and learning alongside action- takers.
  • Want to teach your children about leadership and entrepreneurialism.
  • Need to work for yourself because of chronic illness or a special need in your family.
  • Homeschool, like me, and you need to have an income source that’s completely flexible.
  • Want your hobby to pay for itself.
  • Want to do something that helps you grow as a person
  • Just want to get out of the house to be with other women once in a while but don’t want to just go shopping or to get coffee.

Why do I need to know my “why”?

You’ve no doubt heard that whenever you set out to do something significant, the first thing you need to know, before how or when, is WHY. You’ll need to know your “why” for many reasons. It will help you choose the right projects  and get through trying times. But before any of that can happen, your “why” will point you toward your “what”.

 

When you know exactly why you want to build a business, you’ll be better able to choose the one that will work best for you. (<–Tweet that)

Here are a few examples, to help you see how it works.

If you want to build a business in order to help relieve debt, you will want to choose something that has a short learning curve and a fairly quick path to profits. (No get rich quick schemes though!) While it may not have the long-term income potential that a slower growing business would have, it meets the need of immediate income.

 

Let’s say you just want to have a hobby that pays for itself. In that case you’ll want to focus on a hobby that you already enjoy, and not choose a business based more on its potential for income.

 

If you want to build a long-term business; one that allows you to grow as a person, use your strengths, collaborate with other successful people, and earn enough money to freely give, then you’ll go a different path from the above two scenarios.

 

Tomorrow we’ll talk about the idea of building a “Legacy Business”. Perhaps that will be what you decide to aim for.

 

Knowing what you want your business to do for you is key in choosing the right one.

 

  • Get out your notebook and title the first empty page “Why I want to start a home business”.
  • Brainstorm all the reasons why you are currently drawn to the idea of working for yourself. You don’t have to choose just one, write them all down.
  • Look over the list and see what it’s telling you.
  • Meet me back here tomorrow!

 

This post is part of a 31 day series. To see the other posts click here

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