With the economic recession setting in and job cuts at the all time high, people are increasingly looking for alternative sources of income. Under these circumstances, home based business models are proving to be hugely popular among people. A lot of people have opted to earn money from home either for additional income or as their sole income source.However, a vast majority of businesses fail within months of starting. Why does such a popular model of business have such a high failure rate? The major reason for this is that most people are not technically ready to commit their time and energy towards their business. Dreams are one thing, implementation is something else.The right choiceWhen starting a home based business, the first step which you must take is to decide, which business is the most appropriate for you. Choose a line of business which you know you can commit yourself to. If you are not interested in a particular field, then you won’t be able to commit yourself to it and consequently, you won’t do well in that business.Your ExpectationsOnce you have chosen your business, decide how much time you will be able to commit to it. Are you going to work full-time or will you treat it as a supplement to you regular job? Whatever is the case, you must set your expectations accordingly.The amount of money you earn in your home business is directly proportional to the amount of time you spend working on it. If you desire maximum benefit from your home business, you will need to spend a lot of time and energy tending to it.Slow and steadyWhen you start a home based business, things may be slow to start with. It has a lot to do with your inexperience in the business. A spaceship uses up more fuel in the first few miles, than what it does during its entire journey through space. This is just an example to point out that you’ll need to push hard and persist in the beginning. Once you get through that initial phase and gather the momentum, your business will be fairly smoother.Any business is a constant learning process. As you get more and more experienced, you will learn the nuances of the game and will be able to apply your talents and skills in a more effective manner. However, to reach that distance, you will need to be committed to your business even through the rough phases. You will be able to keep learning new tricks all the time, if you are receptive to new ideas. Always remember to keep your mind open for new learning.If you show deep commitment towards your home based business, it will be a hugely satisfying and fulfilling experience for you. As Mark Douglas said, “The achievement of your goal is guaranteed the moment you commit yourself to it.”

Could you imagine a life in which your professional and personal lives were in harmony? Where you could actually say that you loved your job and were relaxed enough while spending time with your family to enjoy it! Most professionals tend to fall apart when it comes to balancing work and family. Enter: the home-based business. Owning a home-based business gives people the rare opportunity to pair a professional career and the comfort of your own home. Here are three reasons why a home-based business is a no-brainer.1. Freedom and Flexibility of Schedule Think about your current professional situation. What aspect of your job do you dislike the most? The pushy boss? The annoying coworker? For most of us including myself it was the rigid schedule. Owning a home-based business gives you the freedom to create your own work schedule and the flexibility to change it anytime you want! So, if waking up early to have breakfast with your family then taking your kids to school and working out before you hit the office is what you choose to do, then go for it! Creating your own schedule allows you to get done what you need to do while building in time for your family without feeling stressed.2. A Typical Work Day Most entrepreneurs that I talk to have some sort of schedule that they typically stick to, however this schedule may look nothing like your traditional 9-5 work day. They may get up and work out, or watch ESPN for a bit in the morning while having coffee then many head to the office for 3-4 hours. Home based business entrepreneurs spend their time updating their marketing campaigns, assisting members of their team, checking email and making any other necessary calls such as calling leads. The great thing about a home-based business is that on many occasions you can achieve what needs to be done for the day in about 4 hours, leaving afternoon hours to enjoy your family and hobbies.3. Qualifications The great news is you don’t need any! Anyone, from any walk of life can own a home-based business. Being an entrepreneur is more about the qualities that you have as a person and the effort you are willing to put into learning the necessary skills. These skills can be learned along the way via webinars, mentors, etc. Formal schooling of any kind is not necessary to get started. You will quickly figure out what you need to know how to do and with the right mindset of determination and perseverance you can be a very successful business owner. Because there are no long courses of study to become qualified, home-based businesses tend to have a quick turnaround from the time you get involved to the point where you are making money.As you head into work tomorrow, stressing over deadlines or maybe dreading that co-worker or boss, consider how your life would be different if you were a home-based business owner. Imagine the level of relaxation and time to spend with your family that would become normal in your life. If this vision looks ideal, do something about it. As stated by many wise people; If you always do what you’ve always done, you’ll always get what you’ve always got.