Photography is an extremely wide-open field as well as competitive.  It ranges anywhere from part-time freelancers to those big names that ask thousands of dollars a day.  If you are looking into becoming a home-based photographer, there is a broad range of subject areas that you can focus on.  Areas such as portraiture, weddings, pets and even freelance photojournalism.

Photography can be broken down into two main categories:  Assignments photography (commissioned assignments such as weddings and portraits) and Stock photography (non-commissioned assignments such as general pictures to be used in newsletters and presentations).

So, the first thing you should decide on your journey of developing your own photography business is whether you will specialize or diversify.  For example, say you decide to specialize as a child photographer, they you should endeavor to be the best in your field.  However, as with most things, it is not always wise to put all your eggs in one basket.  Many photographers find they are drawn to a specific niche.  However, they will often develop a stock collection of photographs as well.  Whenever they are on assignment they will take the opportunity to shoot pictures of their surroundings to put into their stock collection.