Business on the home front - planning a home-based business - Brief Article

Black Enterprise, April, 2001 by Paula McCoy-Pinderhughes

Q I am a 35-year-old African American female interested in starting a home-based business. I don't have a lot of capital to start with, but I do have office and [computer] equipment. My interest are music and books, so I'd like to concentrate on this field. Your guidance would be appreciated.

--R. Bell Powhatan, Virginia

A You've already made a commendable decision in aspiring to become an entrepreneur and having control of your economic future. But understand that such an undertaking requires discipline and often self-sacrifice in the way of family and time.

The fact that you are aware of your interests and want to conduct business in that realm is a plus. However, according to Rudy Lewis, president of the National Association of Home Based Business (NAHBB) (www.usahomebusiness.com), you must go even further in determining and focusing on the actual business within those interests that you wish to set up.

Defining your goals and how you are going to achieve them is crucial. "The financial aspect of any business must be understood and acknowledged up front," says Lewis.

The NAHBB offers a courtesy interview to entrepreneurs and makes recommendations based on the information provided. SOHO (Small Office Home Office) (www.soho.org) and the American Association of HomeBased Businesses (www.aahbb.org) are additional organizations dedicated to guiding you and providing links to valuable resources designed to support the self-employed and home-based entrepreneur.

--Paula McCoy-Pinderhughes

Mail your small business questions to: Savvy Solutions, BLACK ENTERPRISE, 130 Fifth Ave., 10th Floor, New York, NY 10011, or send an e-mail to pinderhughesp@blackenterprise.com.