Like in starting any business, a home based business carries with it certain requirements and prerequisites that you must fulfill for long term success.More and more people everyday are thinking about possibilities of starting their own business from home. For one, it provides for flexibility of schedule, enabling you to schedule your working hours according to your convenience; and also the independence of being your own boss. However, before taking the plunge one must carefully analyze both its advantages and disadvantages. To help you with this process let’s start with what is business.Business is about “making someone’s life better”. This theory is why people reach into their wallets and spend money for something. It’s not based on there being a supply of something (because there are lots of things people do not buy), but rather on that they think what they are going to buy to make their life better in some way. Because most home based businesses use the Network Marketing business model it should follow the same principle. Only a business that does make people’s lives better should be considered a “good, ethical, or professional” business. This model has proven successful just by the fact that it is the fastest growing business model today and is endorsed by many well respected business professionals.So, you may be wondering what the downside to a home based business might be. There are several areas to consider. First, like any other business, it is not a get-rich-quick endeavor. A home based business requires the same due diligence, planning and execution of any other successful business. Second, it requires that you select a business that you can stand behind. This includes the company and the products or services. If you decide to work marketing a particular product, make sure it is one in which you purchase yourself. One that you do not believe in will be hard to sell to others. Third, you should be prepared to spend many hours training, which should be a pre-requisite provided by the company you decide to work with. Persistence in this area is a must as many home based business want to-bes quit within one year. Setting a 3-5 year plan ensures your success and is the main reason people fail if this is not done at the beginning.