The best thing with home based business is that you are your own employer and you can earn as much you work. No need to worry about job security and salary issues.
However professionalism is very important in home based business. You should work and behave the same like if you are sitting in an expensive commercial building. You can also do partnership with other experienced people who ealier have good track record of managing home based businesses.
There are many people who want to do business from home and earn money but they don’t have correct knowledge on how to do that.
One good idea for a new home based business is to start a Weekly car cleaning and polising service and you would be surprised that your neighbours will never go anywhere else to get there car washed. Infact they will refer more customers if your service is good and affordable.
In the begining you may do all work yourself ie from cleaning to preparing the bill but once you find that your business is growing then you can employ local teenagers for the same.
To popularise you may offer discount or extra services for free to customers who bring more customers for you. In this way you don’t have to do any advertisment and still your business will grow like anything.