When Opportunity Knocks.Clamoring to start a homebased business and secure your future? The door is wide open for you.
Opinions expressed by Entrepreneur contributors are their own.
It may be too early to say how many homebased businesses have been started since the attacks of September 11, but one thing is for sure: The technological advancements of the past decade have certainly made starting a homebased business easier than ever. At the same time, many of those businesses are in danger of failing due to bad planning and bad ideas. "People were so eager to jump in and start homebased businesses [after the attacks], and I really caution people [against] thinking it will take less work than it did working for a company," says Maria T. Bailey, founder ofBlueSuitMom.com, a site that caters to working mothers; radio host of Mom Talk Radio; and author ofThe Women's Home-Based Business Book of Answers. "People underestimate the amount of work it takes to actually launch a homebased business."
The faltering economy was the catalyst for Donna Crafton and her partner, Jennifer Hofmeister, to startPRima Donna PR Inc. in Golden, Colorado, last August, but the terrorist attacks stopped the business in its tracks. As the holidays rolled around, Crafton found herself on a tight budget, so she decided to make scarves to give as Christmas gifts to her friends. A night on the town wearing one of her scarves in upscale Cherry Creek, Colorado, changed her destiny: She was stopped repeatedly by women wanting to know where she had purchased her scarf. After researching production costs and getting feedback from an informal focus group, Crafton launched Fizz by Prima Donna a mere two weeks later, just in time for the holidays. She now expects sales of more than $100,000 this year.
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