Is a home-based business right for you? Working from home can be a very rewarding business enterprise for those that desire flexibility and freedom. Before setting up your own business, you’ll want to do your own research to insure that the business is built on sound business principles and not just a bunch of speculation.Home-Based Businesses – A Growing TrendThe trend toward home-based businesses is growing. This may be a result of the security this type of business provides in a slow economy, or the convenience and savings working from home provides. In order to succeed, you’ll need to have the ability to create and follow a business plan. While this might be difficult for those starting out, you can succeed if you are patient, learn, and do what it takes to succeed.Setting Up A Business PlanA business plan is the basis for a solid business. The reason is simple: A reliable pattern of actions to follow. Networking is a key ingredient in a business plan. Know your sales market, your vendors and your competitors. Be prepared to advertise. Locate free advertising and follow up on it. Budget for larger ad campaigns. The internet and social media offer some of the best opportunities for strong advertising of your products or services.Starting Your Own BusinessJoin small professional business commerce groups if there is still uncertainty. Otherwise, begin by making contacts from a core list of potential customers. Make arrangements to meet with them and introduce your business. If the business is totally managed from your computer, encourage hits to your website with good content that radiates self-confidence in your offerings. Use your website as access to increase your business name and recognition.