You have great idea for a home business. You've talked to friends and family and they've encouraged you to go for it. Before you jump in and go forward, here are 10 very important things you must consider and do starting up your business.

1. Determine whether there's really is a market for it.

Don't let the excitement of your new idea overwhelm you. Before taking your first step forward, do some research and discover whether there really is a market for your product or service, don't just take the word of a few family and friends. This is critical.

Go to a bookstore and check out magazines. Are there any which cover your product or give you statistics and other info. Go to the library, or online, and do research. Are people actually searching for your product or service. Don't just ask a handful of family and friends, ask a hundred. Ask people at church, the health club, parents of your kids friends, for example. Ask "Would this be a product you'd buy? And how much would you pay for it? Do your "due diligence" before rushing ahead.

2. Is there enough space in your home for a proper office?

If you've come from a regular working environment and had an office, think about how large it was, and how it was set up. You can't work properly if you don't have enough space to function. Can you remodel a basement, space over your garage, storage space, convert an unused bedroom; even a functioning porch can work.

You must have work space with it's own boundaries, which separates you from your family.

3. Have the proper office equipment, desk and chair.

Many a person has started a business at their kitchen table or a small desk in their bedroom. Once you get started, full time, you'll need to be comfortable. Plus be surrounded by the equipment you need.

You'll need a desk or workstation to fit your needs, and proper space for your computer. A keyboard and mouse comfortable for hours of work. An ergonomic chair. Printer and paper, calculator, a file cabinet.

If your new business requires you to work creatively, you may find closing off a space in your basement, garage or storage area the best place to work. There, you won't worry about paint spills and other stains. Plus, you're separating creative work from more serious work.

4. Have a dedicated phone line.

One of the worst things you can do to cut costs, when starting up, is use your home phone. When clients and vendors call, they're hearing your dog bark, children crying, the television blaring and dozens of other noises. Think about it. If you were a client calling what would you think? Unless you run a daycare center they'll think, and probably correctly, you're too busy with family to do a proper job.

Start off professionally with a phone line dedicated to your business. A second line isn't that expensive, plus it's a deductible business expense. And you can also use it for your FAX.

Instead of an answering machine, sign up for voicemail from your phone company. It's professional, reliable and gives a better voice recording.

5. A business bank account.

While many entrepreneurs starting out, do it, it's not good business practice to add income from your business to your own personal account. First, you'll seem like a "hobby business", not a serious business when you pay with a personal check. Second, the U.S. government looks with question, on businesses who co-mingle business funds with personal - again, they're not a serious biz. Third, it's much easier at tax time, to account for expenses, when you have a biz checking account.

Also, if you're thinking about applying for a business loan, or business line of credit, most banks require you have a regular business checking account and will set one up for you if the loan is granted. In short, you're applying for funds to be used for your business; this isn't a personal loan.

6. Have the required business permits and licensing. Get bonded if necessary.

Most U.S. cities and states require the licensing of all businesses. To find out what the rules are, check with your community and county. There may be rules regarding what type of business you can and cannot start in your home, plus zoning regulations which apply. In most cities, when you're not licensed, and/or bonded, you'll lose out on tons of jobs. And could be seriously fined.

7. Business cards, stationary, envelopes, order forms.

These days it's easy and inexpensive to have business cards printed up. In fact, many printers have logos and other creative art you can add to your cards and stationery if necessary. If you're a business who takes customer orders, it's important to have pre-printed order forms. Each form will have it's own pre-printed number which makes for easy reference. And no need to manually assign purchase order numbers.

8. A website and dedicated email address.

In today's competitive marketplace, it's necessary to have a website with your own Domain Name. Usually businesses purchase their own name for use on websites; if it's available. If not, don't choose a name which sounds like gibberish, which can't be remembered. Not sure what to choose, there are online companies to help.

No need to spend thousands on it; keep it simple and easily navigable. A place customers can visit to discover new products, get a free newsletter, coupons, info on changes, order or re-order, for example. Today, a website is a very important marketing tool, working for you 24/7.

Also, it's essential to have your own business email address. For instance - your name@yourbizname.com. Nothing's more unprofessional than using family emails. Or free emails which direct others through a maze of advertising before they finally reach you.

9. Health Insurance.

These days, most parents both work and have health benefits. And when one stops working, they're added to the working person's plan. If this isn't the case for you, start shopping around, immediately, for your own health benefits plan. Many companies offer good rates to small business owners.

10. Liability Insurance.

It's essential you speak with your home insurance broker about liability insurance, before starting a business in your home. Do, and you'll quickly discover there are dozens of things - related to doing business in your home - which may not covered by a personal home owner's policy.

For example, if Aunt Mary slips and falls on your wet front steps, more than likely that's covered in your homeowner's policy. However, if client Mary is leaving after a business meeting and slips and falls on your wet front steps, that's another thing entirely.

Every insurance company has it's own rules regarding home businesses. So discuss your needs with your licensed broker so she can develop a liability policy which fits your businesses needs.

Bottom Line:

Regardless of how creative you are, your business will be thought of as merely a hobby. Unless you create a formal business. While you're probably thinking you don't have the time, nor desire, you're failing to allow your business all it needs to succeed, when you keep it at an unprofessional level. Use these 10 Important Strategies to give your biz the positive start it needs to succeed and profit.

Copyright 2008. Jean L. Serio

Jean L. Serio has 35 years experience in business, working for 4 top retail corporations. Helping launch and manage 7 multi-million dollar Operations. Over the last 15 years she's started up 8 biz's of her own. Personally, and through the Women's Marketing and Business Network, helped thousands of women start up their own successful business. If you're sick of the struggle of a 9-5 job and making ends meet, sign up now for your Free Women Start Up a Biz Ezine"