Today, many people are choosing to own and operate a home based business. A home based business is a great alternative for someone who wants to earn a living, while having more control over their financial future, dreams, and goals. One of the most alluring aspects of having your own home based business is the fact that you have no cap on your income earning potential. When you own and operate your own home business, the amount of income you earn is virtually unlimited. With hard work, patience, and dedication, you can see your dreams become a reality.The first step is to choose a home based business that you would like to establish. There are numerous choices available, and it is best to choose something that you are sure you will enjoy and not become bored with. Many people discover that choosing a home based business that is based upon something that they enjoy doing, or is similar to a personal hobby is a great way to ensure that they will stay positive and motivated while working their new business.There are also many home business opportunities that are provided through another company. Some of these businesses are affiliates, similar to franchises. You can choose from companies that sell items such as cosmetics, vitamins, health food, massage products, or clothing. Some people prefer to start their own home business and bypass franchises or companies. These people truly have the entrepreneurial spirit and are willing to branch out into unknown territory. No matter what type of home business you choose, you will find that your business will have the best chance to succeed, if you create a business plan and conduct your own research.When it comes to research, you should look at a few specifics. Some of these include finding out who your target audience is as well as your competitors and determining if there is a need for your business or services. Also, you will need to decide how much you are willing to spend on your new business endeavor. Once you have answered these questions, you should construct a business plan. A business plan is the documentation of your goals, and the plan of how you will accomplish them. Everyone who is in a business should have a business plan, and statistics show that business owners who create a business plan have a higher success rate then those who donâ€™t. By developing your business plan and performing research, you can ensure that your business will have every chance at success.