You’re excited about the fact that you want to start a work at home on the internet type business and can’t wait to get started. Before you go out and spend you hard-earned dollars on marketing, advertising, product creation and other essential business requirements, you must plan your attack carefully.

Building an internet business at home is not as hard as you would initially think; however, if you do things prematurely it can waste a lot of your time and money. Consider this with the fact that 9 out of 10 businesses fail in the first 5 years.

To prevent this from happening consider exactly what it is you want. What do you want your business to give you? For example, how many hours per week do you want to work, do you want your business to be mobile so you can easily live somewhere different?

Not doing your research or due diligence is a huge mistake. This might seem like common knowledge, but common knowledge isn’t always common practice. Big secret: reverse engineer.

Think about what your market wants then deliver that to them. Don’t do it the other way where you create a product or service, then try to find a market for it. Ask the market what they want, find a unique angle, study competing products or services and design your business idea around this research. Using a tool such as Google AdWords is a good way of testing a market for a set amount of days or spend limit.

This enables you very quickly ascertain whether there is demand for what you want to offer.

Don’t get too emotionally attached to your business ideas as this can cloud your thinking and cost you time and money. Something can only work if the research and market supports it.

Have an exit strategy if things go wrong. This is another big mistake. Even though you might think your idea or strategy is the best in the world, things can and will go wrong. And if they go really wrong you want to have a plan in place to deal with a worst case scenario. It could save you a lot of heart ache and allow you to move on more quickly to your next idea.

Finally, not having a mentor or someone you can contact regularly can significantly increase the time it takes to get into profit, if you get there at all. All successful business people had a mentor/ coach or someone they could bounce ideas off or ask for advice. Mentors can come in many forms such as someone successful you know personally or they could be your favorite author of a book, audio program, or seminar presenter.

Making money from home is great thing to aspire to when you compare it with making money from a job – the sense of freedom you get is what is most attractive about it. Whether you already have an internet business on the go or just starting from scratch, multiple income streams is a great goal to have.

Author Bio: If you would like more information on how to make money at home on the internet and receive a free DVD on a smorgasbord of methods to help you do it, rush over to http://www.21stCenturyWealthGuide.com. Then run on over to http://www.CompleteWealthMastery.com for ongoing updates on the topic.

Category: Business
Keywords: Work at Home on Internet, internet based business, make money online