The thought of working from home, either as a telecommuter, freelancer, or as the owner of a home based business probably sounds exciting-but before you decide to take the leap, there are some important things to consider, such as:

Discipline: Working from home means you're on the honor system. There's no time clock and no boss looking over your shoulder. Are you disciplined enough to get the job done anyway? Can you tune out distractions like the TV, the dirty laundry, and that fridge full of leftovers? Unlike most office jobs, your internet usage won't be monitored or restricted. Can you resist the urge to surf all day or check your email every 5 minutes when there is work to be done?

Patience: You won't make a fortune overnight. In fact you may never become a millionaire. Being your own boss means saying good bye to a regular weekly paycheck. For freelancers, many clients will pay 30 or even 60 days after you've submitted your invoice. For business owners, you'll often have to pay your vendors and suppliers before you pay yourself. It may take a year or more to make a profit. Do you have the patience and budgeting skills to handle this? It's always a good idea to have at least 6 months of living expenses in the bank before setting out on your own.

Support: If you have a spouse and/or children, are they supportive of your desire to work from home? Will they understand that working from home will not mean you're available all day long. Is your spouse willing to support both of you financially until you get your business off the ground? Working from home often means working alone. Do you mind spending a lot of time alone? Are you willing to find your own support system to replace the built in one that comes with an office job? An organization like the National Association of the Self Employed is a good place to start.

Tomorrow we'll look at the legal information you'll need to know when it comes to starting a home based business!