For those of us that still work for a boss, daydreaming about being free is common. We think about doing what we want, sleeping late, and working when we want. What could be better? Well, before you jump in, you need to know if you are really ready to work from home, or not.

1. Self-motivation. Not having a boss is both good and bad. Be honest with yourself about your ability to do things without direction. Nobody will be standing over your shoulder, so you have to be able to work on days you’d rather do something else.

2. What will you do? You need to be specific. Saying, “I’ll make a bunch of money online” is not going to get you anywhere. The more precise you are with what you are going to do to earn money at home, the better.

3. Money concerns. Regardless of what some huckster’s sales pages say, making money online takes some time. It is a good idea to have a few month’s savings stashed away to carry you through the beginning stages. You also need to have a business budget in place. Not only for what you will spend, but how will spend what you make.

4. Do you have a plan? Just like knowing what you will do, a more detailed plan is better. What type of business you will run, how you will make money, research, outsourcing, and even a plan for dissolving it are all part of a good plan. Note: This must be written down, or it isn’t really a plan.

If, after thinking about each of the above, you still think you are ready to work from home, then go for it! While it can be challenging, it is one of the most rewarding things you will ever do.

by Michael Oksa