“What do I need to know before starting a home based business?”The home based business advice I am about to share comes from a life time of viewing and studying businesses from both the inside and outside of the business world. What I have discovered is that there are a few simple things that must be considered before starting a home based business, such as: the industry, the product, and company history.Growing up I learned quickly that being a business owner was the only way to have what I like to call a “life”. The majority of the world lives in one of two categories. They either have all the money they want but absolutely no time or they have all the time in the world and absolutely no money. As a boy my father was the first of those two categories. He worked and worked and had very little time but because he was a business owner and all that work was not going toward making somebody else rich he eventually became part of the small percentage that has both, time and money. This taught me a very important lesson as a youth. I knew that in order to become part of that small group I needed to be a business owner but how do you make that happen faster? The answer is a home based business.The most important home based business advice I can offer when getting started involves the industry of your product. It’s no secret that we are in a recession and we are going to be for awhile, however, the recession does not effect all industries. In fact in my research I have a found an industry that not only is not effected by the recession but is growing by 500 million dollars a day and that is telecom. Telecommunications grew more than 5% in 2008, the peak of the recession, and is currently growing more than 7.7% a year today. 7.7% of a 1.8 trillion dollar industry is absolutely where I would secure the foundation of my business. I will say it again, “my best home based business advice is TELECOM.”The other piece of home based business advice to consider is the company history you are about to become involved in. I cannot tell you how many business opportunities people have presented me with by saying the words “ground level”, “brand new idea”, or “something nobody has ever done before”. I always respond the exact same way, “thanks but no thanks”. Like I mentioned before we are in a recession and we are not coming fully out anytime soon. I want a business that has seen hard times and has seen good times and knows how to build and grow through it all.If this very simple but very important home based business advice is followed I have found you can produce a very profitable business. A home based business that has the potential to grow no matter what is happening in the economy.
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