Starting a Work at Home Business in Canada
Thinking about starting a work at home business in Canada? Great idea! But before plunging in, it’s always a smart idea to do your homework and plan for what may lie ahead.
Here’s a great resource that guides you through the process. The Canadian Bankers Association (CBA) has put together a booklet on Getting Started in Small Business. Here are some of the highlights of what you need to do to get on the right track to starting a work at home business in Canada:
Every successful business starts with a great idea -- but even a great idea needs careful planning to determine whether or not it will work. Here’s what you need to know when starting a work at home business in Canada:
Know Your Market
Demand for your product or service – who are your customers?
Supply – who are your competitors?
Know Your Product
Product costs – how much profit can you expect to make?
Product sourcing – where will get your product supply?
Product quality – do you believe in what you’re selling?
All of this information needs to be combined in a business plan that also addresses how you will finance that great business idea of your’s!
Ok, say you’ve got the great idea and you’ve done your planning. Is the business a “go”?
Whether or not it’s the right decision to start a work at home business really comes down to knowing yourself and being honest about your abilities, limitations, commitment to work -- and your expectations about the business.
Starting a Work at Home Business = Freedom
Nine out of ten business owners say the most rewarding thing about owning a business is the independence and control it gives them over their own decisions. Does this sound like you? If yes, than starting a work at home business might be right up your alley!