My story is fairly common. My husband and I met and married in university. We both worked in the high tech field. After about five years of working, I entered an Executive MBA program. At work, I was moving into increasingly challenging management positions. Everything seemed to be going according to plan.

Suddenly, I was in my 30s and we decided that children were going to be part of our future. While pregnant, I had every intention of continuing my career. In fact, there was a great infant day care program in my office building. But plans and reality are not always the same thing.

My daughter didn't adjust well to day care, was constantly sick, and I was only managing to be at work about 3 days a week. Fortunately, they were downsizing and offered me a good buy-out package. Now I was a full-time Mom. I love being at home with my daughter but I had worked long and hard to acquire skills that were quietly slipping away.

We have our own consulting company, and I seriously considered part-time contracts. However, most contracts would involve meetings in town, possibly some travel, and frequent sitters for my kids. That approach just didn't fit with the life style we wanted for our family.

I spent over a year researching different possible home-based businesses, and trying to determine what would be right for us. After looking at many options, and actually writing 3 business plans, I had a fairly detailed criteria for the characteristics of any business we would consider.

1) The business had to be financially viable, and viable doesn't just mean break even. As a consultant, I could earn a high hourly wage. Any business would have to have the potential of generating a good income for the amount of time it would take me away from my kids.

2) The business had to fit our lifestyle. I like spending a lot of time with my children, and hoped to find a way for them to be involved in our family business. Also, if the kids are sick, I am the primary care-giver. Any business would have to allow for very flexible scheduling.

3) The business had to be something I could believe in. There are lots of good causes that could benefit from having an additional volunteer. I had no interest in trying to sell a product I didn't believe in. Basically, the product had to be something I would want used in my home.

Any business would have to meet those three criteria for me to even consider it. In addition, we had some under-utilized resources. Ideally, any business would take advantage of some of those resources.

Anyone thinking about starting their own business should come up with their own criteria. Do you need a reason to get out of the house and meet people? Have you always wanted to pursue a dream? Decide what is important to you, before pick a business.

Now that I knew what I was looking for, I just needed to find the right business. The smartest thing we did was taking the time to work out a detailed business plan. This step alone saved us from making a $200,000 mistake. I am still surprised at the amount of planning and research it took before I realized that two possible businesses were not right for us.

It was discouraging to put so much effort into researching a business and then basically throw it all way. About the only worse would have been starting those businesses with less planning and realizing the mistake when it was too late.

Were we being to picky? Should I put my hopes and goals on hold while the kids were young? There didn't seem to be a solution.

At this point in time, two unrelated events happened that crystalized the idea for our company. The first event was watching my daughter's eyes light up when she got a package in the mail. The second event was listening to a small business owner describe how she came up with her business idea. She was frustrated over not being able to purchase some specialty products for her own family without driving for at least 30 minutes. She realized that there was an unmet need she could turn into a business. The lights went on and the concept for Creative Kids at Home crystalized.

Children love getting mail. It makes them feel special. Someone cares enough to send them a package. Then there is the surprise of not knowing what is in the package. I liked the idea of creating a product that would be fun for kids. My daughter and I love doing crafts together. Craft packages could be sent through the mail, and kids would like having something they made themselves.

So we started again on a new business plan and this time, everything fell into place. We opened Creative Kids at Home in 1999. It has taken time and lots of work, but it has been worth it.

We've expanded our product line from the initial idea of the craft subscription (six packages sent throughout the year) to include a science subscription and special holiday packages for Christmas and summer vacations. We've gotten great reviews from the Toy Testing Council and been featured in national parenting magazines.

Most importantly, we've learned that it really was worth taking the time to throroughly investigate and plan a business before you create a new company. The research pays off for years to come.

Christine Nicholls loves being mommy to Katherine (9y) and Duncan (6y). She has developed a home-based business that lets her combine her skills and business background with full-time parenting. Her company, Creative Kids at Home, encourages children to have fun while being creative. (1-877-853-6788 or http://www.ckah.com)