Many of us have considered setting up a home based business. It’s fast, it’s convenient, and the money’s good! Today, there are a staggering number of over 11,000 home based business opportunities available, so making the right choice is obviously difficult. One must always look for solid product, benefiting compensation, and great training and support, when it comes to choosing a home based business. Now let’s take those points one by one.Firstly, you need to find a product with a solid product – is it something people actually need? Will it sell? Or is it just another run-of-the-mill product? Consider that carefully. Secondly, you should find a company with a compensation plan that should benefit you. And lastly, you need good training to work from home. Ensure you have mentors, ensure that you have all the support you need, and never settle for a company that doesn’t provide any training.There are many ideas we shall give you, for setting up your own home based business. You can be a Personal Trainer (in which case you should check out the National Federation of Professional Trainers) or a Yoga Instructor (share your expertise with Yoga classes), or you can even try tutoring at home. Advertise your classes at local schools, shops, and other places which families frequently visit. One could even set up a home based business of consultancy – in various industries like finance, marketing, or public relations.Then there’s also the option of content writing, if you have good command over a language, or even proof-reading, if you are quick in spotting errors. Another home based business is medical and legal transcription – you can check local community colleges or the Web for transcription training courses. If you are artistic and technology-friendly, you could become a Web designer, as there is a huge demand for designers.Desktop publishing is another opportunity for home based business, if you are creative and can put together brochures and newsletters. Offer your desktop publishing services to other small businesses, a word of caution though – softwares are often expensive, so do your research and try to give trial runs before investing in one. If your photography is good, you can open your own studio, and you could even try remodeling homes, if you are gifted at interior design! The American Society of Interior Designs Web site provides resources for those who want to become interior designers, and also includes a list of each state’s requirements for licensing.You could also become a Chef, or go into the catering business, design gift baskets, etc. If you have an eye for jewelry, you can become a custom jewelry designer, and if your taste in clothes is good, you could become a personal shopper for the rich and famous!However, the important thing to remember is that you must invest time in your home based business, and your commitment must be very high. There are certain pros and cons to home based businesses. The main pro is that for the most part, you are your own boss, and you can decide your own hours and payment, depending on the work you are doing. The con is that the work can sometimes get a little boring and repetitive.