Day by day people scour the internet looking for a home based business to set them financially free. What happens more often than not is that people end in worse shape than when they started. Why you ask? The answer is not so simple.
The key to finding a home based business starts with knowing yourself. That means knowing what you are good at and what you do not do well. You must also be honest with yourself when doing this. We would all love to be perfect in every aspect of life but the truth is we are not and we have to accept this fact. This is important because picking a business in which most of the tasks that need to be done are your strengths will increase your chances of success.For example let's say you are not much of a talker. You do not talk much to people who you do not know and you keep to yourself usually. You are however extremely organized and love to write. It would most likely be in your best interest to be an article writer or ghost writer. They do not require you to do much talking or go to meetings all the time.
The next thing you need to know is the product or service that you will be offering. The more you believe in your product or service, the more you will sell. Now before I go on there is a handful of people in the world that could sell ice to an Eskimo or sell water to a fish but these people are the exception rather than the rule. For most of us if we do not believe in what we are doing we will not reach the level of success that we desire. People will be able to tell if you believe in your product or not. So if you are looking at a network marketing company try being their customer for a couple of months before you join the business. Once you try the product or try the service then you will know how you feel about it. On top of that you will be more prepared to answer question about it because you have become familiar with it.
Once you picked a business that relies on your strengths and a product or service you can believe in you have to choose what your budget is going to be. Remember that most home businesses take at least months before you really start seeing results off so it is important to keep within a budget until then. If you decide to join a mlm you may have the type of sponsor that says you should buy this or buy that it will really help your business. Remembers that you need to stay within your budget. If the recommended items are out of your budget ask your sponsor to rank the items by importance. This way you can stay in budget and get the items most needed first.
OK now you have your business, our product, and your budget now you are ready to start your business. Just remember that it is a business and should be treated as such. Running a home based business can be more difficult than running a traditional business. Running a business from home offers many distractions; Kids, TV , your bed, etc. You could have followed this guide perfectly but mess this up and you will not succeed. If you do not take it seriously you will just be wasting money and wasting time and since how most people start up home based businesses to have more time and more money you would be defeating the purpose. Make sure the home office is secluded so that when you are working you cannot be distracted.
Now that you have your business running you must market it. Marketing is how you get customers. Now there are many forms of marketing such as newspaper ads, flyers, TV ads, mailing lists, pay-per-click ads, power-linking, and many others. How you market your business is up to you. Each technique has its own strengths and weaknesses. Obviously you will want to keep your budget in mind when picking a method of marketing.
Diversify your marketing as much as possible, and remember... the more people that see and know your business the more business you will do.
Need more help? Visit www.freeonlinejobresource.com
Monday, June 7, 2010
Sunday, June 6, 2010
Checklist for starting a business
Use this comprehensive checklist to plan each step of your new business and transform your dream of entrepreneurship into reality. These steps may not necessarily be completed in the order listed; however, you can use them as a guideline for completing all of the necessary business startup tasks.
- Determine what kind of business you want to start.
- Learn about the industry for your business.
- Analyze the market for your business.
- Study your competition.
- Educate yourself on running a business.
- Join trade associations.
- Name your business.
- Perform a trademark search.
- Register a domain name.
- Design a website.
- Obtain a logo.
- Determine business structure (sole proprietor, partnership, or corporation).
- Evaluate your personal budget.
- Write a business plan.
- Write a marketing plan.
- Locate financing.
- Create a list of start-up supplies with budget.
- Set up a system for accounting and payroll.
- Apply for business license, fed tax ID, fictitious business name.
- Select a location and set up shop.
- Order signage.
- Obtain business tools (computer, printer, fax, postage, office supplies, and fixtures).
- Order business stationery (business cards, letterhead, brochures).
- Obtain inventory.
- Create an operations and employee manual.
- Hire employees.
- Set a launch date.
- Plan a grand opening event.
- Send announcements to everyone you know.
- Send press releases.
- Turn on the OPEN sign!
- Revisit your business plan and update often.
- Evaluate your marketing strategy often.
- Prepare a realistic business plan.
Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!
By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.
- Your business plan should encompass the financial considerations of starting your small or home based business:-
Do you have the capital required?
Do you need to raise additional funds?
Who are you going to approach for finance?
Who do you trust for advice?
And don't forget to open a business bank account…
- Consider the legal implications of becoming a business owner and proprietor.
Are you better off as a sole trader, a limited company or are you considering a partnership?
Make sure you consider all the angles and protect yourself and your assets personally from the outset.
Anything you bring to the business has to be itemized, valued…even if you're a sole trader.
And make sure you are professionally covered with the appropriate business indemnity insurances.
- Get your family and friends behind you from the get-go.
Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.
Do they understand the level of commitment you will have to show for on-going and long term success?
Their belief in you and continued support of you will work wonders towards your on-going success, so don't forget to look out for them too.
- Protect your family, protect your business.
If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?
Consider insurances - from health, critical illness and income protection insurance to life insurance - and consider your pension and long term financial security.
- Face those 'taxing' questions from the start.
Your small or home based business has to consider its taxation situation.
Do you need to register your business for sales tax purposes; have you informed your tax office of your business's inauguration?
Do you have a good tax professional lined up to guide and assist you?
The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.
- Prepare realistic and achievable goals and targets for your first year.
Do not expect to conquer the world with your first year's business returns.
Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets - when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business' success.
You can find many great tools at http://www.freeonlinejobresource.com
- Determine what kind of business you want to start.
- Learn about the industry for your business.
- Analyze the market for your business.
- Study your competition.
- Educate yourself on running a business.
- Join trade associations.
- Name your business.
- Perform a trademark search.
- Register a domain name.
- Design a website.
- Obtain a logo.
- Determine business structure (sole proprietor, partnership, or corporation).
- Evaluate your personal budget.
- Write a business plan.
- Write a marketing plan.
- Locate financing.
- Create a list of start-up supplies with budget.
- Set up a system for accounting and payroll.
- Apply for business license, fed tax ID, fictitious business name.
- Select a location and set up shop.
- Order signage.
- Obtain business tools (computer, printer, fax, postage, office supplies, and fixtures).
- Order business stationery (business cards, letterhead, brochures).
- Obtain inventory.
- Create an operations and employee manual.
- Hire employees.
- Set a launch date.
- Plan a grand opening event.
- Send announcements to everyone you know.
- Send press releases.
- Turn on the OPEN sign!
- Revisit your business plan and update often.
- Evaluate your marketing strategy often.
- Prepare a realistic business plan.
Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!
By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.
- Your business plan should encompass the financial considerations of starting your small or home based business:-
Do you have the capital required?
Do you need to raise additional funds?
Who are you going to approach for finance?
Who do you trust for advice?
And don't forget to open a business bank account…
- Consider the legal implications of becoming a business owner and proprietor.
Are you better off as a sole trader, a limited company or are you considering a partnership?
Make sure you consider all the angles and protect yourself and your assets personally from the outset.
Anything you bring to the business has to be itemized, valued…even if you're a sole trader.
And make sure you are professionally covered with the appropriate business indemnity insurances.
- Get your family and friends behind you from the get-go.
Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.
Do they understand the level of commitment you will have to show for on-going and long term success?
Their belief in you and continued support of you will work wonders towards your on-going success, so don't forget to look out for them too.
- Protect your family, protect your business.
If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?
Consider insurances - from health, critical illness and income protection insurance to life insurance - and consider your pension and long term financial security.
- Face those 'taxing' questions from the start.
Your small or home based business has to consider its taxation situation.
Do you need to register your business for sales tax purposes; have you informed your tax office of your business's inauguration?
Do you have a good tax professional lined up to guide and assist you?
The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.
- Prepare realistic and achievable goals and targets for your first year.
Do not expect to conquer the world with your first year's business returns.
Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets - when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business' success.
You can find many great tools at http://www.freeonlinejobresource.com
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