How To Start A Home Based Business

Knowing how to start a home based business is the first step to actually creating your own home based business.
Do you know how to start a home based business?
No?
Then read on to learn more.
Starting a home based business can be as simple or as complicated as you want to make it.
Where to start?
First things first.
You need to figure out what you are going to create your home business around.
How do you decide that? Easy. You pick something which you love doing like a hobby for example, and see if you can make a business out of it.
So if you went fishing a lot, then you could start a business around that, perhaps teaching people how to fish properly, or how to get a bigger catch.
Or even just selling fishing rods. There are many possibilities when you actually sit down and think about it.
Since it is a home based business, then I would strongly recommend that you try to sell whatever you are selling on the internet, this gives you a global audience to sell to, which means hopefully, more sales.
If you like, you can even create a little how to book which teaches people something. For example “how to improve your golf swing”.
That might sound difficult to do, but it’s really not. Just get an HTML compiler, make a few HTML pages with all of the information on it, and then make a little downloadable ebook out of it. Simple, but very profitable if done correctly.
What next?
If you know there is a market for the product you are going to create then good. If not, don’t create it, only create a product for already existing markets. It makes it a thousand times easier to sell.
All you do is write advertisements where your target market is likely to be, and in the style they would talk, and you should make some sales. That is the very basics of it though. In reality, to maximize your sales you have to do A LOT more. But I focus on that in other articles.
Okay now what?
You try to automate your ordering system as much as possible, giving you more time to focus on marketing. Then what? Well, that’s the bare bones of it, your done starting up, the rest is maintenance.
Summary:
Pick a hobby which you enjoy and have a good knowledge of
Find out the target market for your hobby/chosen business
Discover the problems which your target market has and possibly create an ebook which solves it
Or find out the things they want, then provide them.
Advertise directly to your target market
Automate the ordering process

 

Home Business, What’s So Great About It?

Home Business allows you more time to do what you want.
Home Business gives you more freedom i. e. no more 9-5 job.
Because a Home Business is well. . . . at Home, you don’t have to travel far to get there.
Just come down stairs in your pajamas and get to work right there and then. It’s so convenient.
What is this article about?
Basically this is about starting a Home Business, what’s involved, what options there are, how much it can cost etc.
I have already described the advantages of having a Home Based Business, so now we will discuss what is involved in starting one up.
When you start working for yourself there are several things you must take into consideration.
How much can I afford to spend on advertising, materials and other costs, can I afford to lose the money I am going to put into this business, where will I get finance from? And a million other things.
So I will break this down into many small chunks which will make it much easier to digest.
How much money will I need to start this up?
That is entirely dependant upon you and your goals. You should only invest as much money as you can afford to lose, this way, if everything goes wrong you can still live without too much interference.
That aside you must think how much you are going to spend on advertising. To work this out, you should take all of your costs and assign them a percentage of your finance which you will put into them. For example, if you had $10,000 to start your Business, you could assign 10% to advertising depending on how much everything else costs.
In my opinion you should work out your initial costs first, like rent and materials for example.
Then you can take what’s left over and assign it to whatever else you want to spend the money on afterwards.
How can I tell if I can afford to lose the money I invest in my Business?
Very simply estimate the most that the business will cost you and assume that it wont make any money at all for a month, obviously this will be a big loss, but it will give you an idea of what COULD happen if your very unlucky.
If it looks like way more than you can afford to lose, then don’t do it until you are more prepared. But please remember that in business, there is no reward without risk. So if you don’t risk your money, then you wont be rewarded.
Do I need finance? And Where can I get it from?
Do you have enough personal savings to start the business you want to? If you don’t then you will need external financing.
The place where most people will get there initial financing is the bank. But there are other places and people as well.
Bank:
Mortgage for premises
Loan
Venture capitalists
Grants
And many more, but the above are the main ones.
I’m sure you know what mortgages and loans are, but chances are, you don’t know what a venture capitalist is.
A venture capitalist is someone who contributes financing to a business in exchange for part ownership of the firm. This is ideal if you are starting an expensive business which you might not be able to afford, but expect high profits from.
But be careful, when you give up part ownership you give up some profits.

 

Pull Them, Don’t Push Them

This article is primarily directed toward people who work at home in a business that happens to involve network marketing.
I am often contacted by members of my business team with complaints regarding a lack of response or lack of action on the part of their affiliates. Their complaints typically go something like. . . “I send out lots of emails to all of them and I very rarely get any response and it seems like very few of them are taking any action. What am I doing wrong?”.
There are many types of internet-based home businesses where feedback and interaction are quite important and getting an affiliate or business team member to communicate with you is a definite objective. It’s not at all surprising that this can be a challenge when you stop to think that what you are trying to do is initiate a dialog between two complete strangers who have never even seen each other.
In the case of network marketing, it is of critical importance to build a sense of trust with your team members. Network marketing is very definitely a relationship business and each relationship typically starts out with two complete strangers sitting at their respective keyboards.
The team building aspect of network marketing is of vital importance to the success of each individual member and to the team as a whole. Two key elements of team building are trust and confidence and these factors play a very large role, particularly for new team members.
With all that being said, many people love the IDEA of making good money working at home in their own business and expect it to just “happen”, but have no willingness to take any action or put forth any effort to make it happen.
Having been involved with team building and network marketing for some time, I have come to adopt the following as my operating credo. . . “if you have the desire and are willing to put in the effort, I’ll pull you along so you can go faster down the road to success, but if you don’t want move on your own, I’m not going to waste my time trying to push you forward”.
Its like working with a length of chain. . . pulling it along works fine, but trying it push it forward only results in a pile of frustration.
You need to be able to distinguish between people that have a legitimate interest in developing a home based business and those lost souls that feel that they have just joined another chat group and only want to engage in an endless “debate” about the virtues of whatever business you are promoting, but never actually had any intention of establishing a business. . . you will have to develop your own method of reading people like this (its mainly a sense of feel. . . sort of a belly button thing).
You can help someone reach for success. . . but you can’t reasonably expect to make them want to be successful. Its just another variation of that very old and tired cliche. . . that “you can lead a horse to water, but you can’t make it drink”.
Another way of looking at it is if you are trying to move people forward, you pull them from in front (a leadership position), but if you have to push them it will be from behind (not a position of leadership).

 

Are You In It For The Long Haul?

Do you own a home business? Now I’m not talking about the twice yearly yard sale. I am talking about a legitimate home based business. It doesn’t matter what type of business you are running affiliate marketing, ecommerce website, ebay auctions, etc. ). The question remains the same: Are you in it for the long haul?
What exactly is the “long haul” you may ask? I consider the long haul sticking with something long enough to truly determine if it is something that is going to work for you.
I’ve got you thinking now, huh?
Well if you are like me, you know some one that has tried their hand at everything. Now don’t get me wrong, there is nothing wrong with checking out different ways to have a home based business. Owning your own business is a GREAT thing.
What I am talking about here is that person that gets into something for a few weeks or months, quits or drops out, then starts something new just to find that this new thing is not what they are looking for either. On top of this, a lot of times this person will tell everyone they know that none of these programs or businesses are any good.
Now as I said, there is nothing wrong with “kicking the tires” to see what is out there. The big thing is when you find something, give it an HONEST effort.
How long this honest effort may take can only be determined by you and the program you are promoting or the business you are starting. Go into it with an open mind. (TIP: There are NO “Sit back and do nothing and get rich overnight” opportunities).
Understand what you are getting involved with and determine your goals. Once you have these goals in place, HONESTLY work your business. If you fail to reach your set goals, step back and look at where you are. This will give you a good idea if this business is going to get you where you want to be.
Don’t get me wrong. I am by no means telling you to stick with something that is OBVIOUSLY not working. None of us are in business to lose money. Just remember that building a STRONG home business can take a lot of work and a lot of time. It is not something to be taken lightly.
In closing let me say that if you are a “tire kicker” and jump from one “sure thing” to the next, do us all a favor. If you don’t give the program or business an HONEST effort and enough time to truly determine what you have, don’t go around spreading “how bad this or that program” is. Let others make up their own minds. What may not have worked for you, may be that “sure thing” for some one else.

 

Are You “Set Up” For Success?

Believe it or not, 2004 is already here. Yeah, I know, where has the time gone? My mom always told me that as I got older, the years would start to fly by. Did anyone ever tell you that? Did you believe them? Well it is happening to me right now.
Before I get too deep into this article, just let me say that the intention of this article is NOT to make people angry or depressed. The real purpose for this article is to help the reader determine if he/she is doing a few key things for their business. Let’s take a look at the three main things that I feel any business owner needs to have in place if they are serious about making their business a success.
Setting Goals: Sound familiar? Of course it does. Have you done this? If you ask a lot of people, the answer you get may vary from “I know what I want to accomplish” to “Do I really need to set goals? I’m here to say that if you have not set your goals for you business, then take a few moments and write them down. Yes, I said write them down.
Be sure to set your goals realistically. Goals should be reachable. If you set unrealistic goals, then don’t meet them you are setting yourself up for failure. You need to set short and long term goals. If you don’t meet your goals on schedule, do not feel defeated. Re-set your goal and strive harder to reach it.
Setting a Plan of Action: Okay, you have set your goals. Now what? How are you going to get there? This can be the real tricky part for some. You need a plan of action that is going to keep moving you closer to your goals on a daily, weekly and monthly basis.
If only there was a “master plan” we could all use. Since there is not, only you can know what needs to be done in your business. Look at your goals and determine what action you need to take. Set your plan of action according to the goals you are striving to reach.
Be specific! Being too vague in your plan of action can leave you sputtering along. It is very important that your plan be detailed. You need the “how” and “when” of your business plan.
Implementing your plan of action: Now that you have a written set of goals and a detailed plan of action, the last key element is implementing your plan. After all, what good are your goals and plan of action without acting on them?
For most, this is the hardest part. In my mind, it can be even more so in the home business sector. If you work for some one else, you probably have that constant “some one is watching over you to make sure you get all your tasks done on time.
In the home business field, it can be very easy to procrastinate. Yes, we have all done it. Some more than others though. This is where you divide the men from the boys. While many of the “boys” are preparing to find the perfect time to get ready to get started, the “men” are already in action.
We know that there is no “perfect” time to get started. If you are waiting for this, do yourself a favor and give up. It is never going to come. To be successful, you are just going to have to do it. And do it now!
In conclusion, let me say that although these three key elements are all very easily done, doing them does not guarantee success. There is another intangible, YOU! Add your own personality to your business and let it grow.
Here’s to you and your success. Today, not tomorrow!

 

Your Own Home Business – Dream or Reality?

This is a question many people have asked themselves, sometimes over and over. Is it possible for the average person to start and run a successful home business? I’m here to say that the answer is a resounding YES!
With that said, there are some specific questions you should answer before starting your business. This list is by no means a complete, comprehensive all-encompassing checklist, but it will give you a good starting place.
What type of business to start?
1) Do I have any knowledge in this area?
2) What skill do I have to run this business?
3) Is this something that I will enjoy doing?
4) How much will it cost to start?
5) Do I have the money this would require?
6) Is there a market for this product/service?
7) How will I promote my business?
8) Am I willing to put in the effort to make it work?
9) Am I dedicated enough to “stick with it”?
10) How much income will this business have to create?
11) How big do I want this business to become?
12) What are the tax implications of owning a business?
13) Are there any regulations (federal/state/local) that I need to be aware of?
14) Am I capable of doing the bookkeeping required or do I need to hire out?
15) What type of insurance will be required?
There are numerous resources online to help you answer some of these questions. Here are a few of the sites I recommend.
sba. gov
bcentral. com
Of course, some of these questions can only be answered by you. Be honest with yourself. A successful home business is a wonderful thing, but a failed business can be a hard pill to swallow. Honestly answering these questions (and others) will help direct you on the path to success.

 

Customer Service – A Lost Art?

Is customer service a lost art? Before you answer that question, take a moment and think about the last few times you have gone shopping or out to dinner. Okay, now that you have really thought about it, is your answer any different?
Why is it that when we actually DO receive excellent customer service that it makes such an impression on us that we usually choose to go back? Why – because the occurrences are so few and far between!!!
As a home business owner, it is imperative to my business that customer service is ALWAYS a top priority. Remember the saying: “If you don’t take care of your customer, somebody else will”. I’m sure you have read or heard it somewhere before. . . . . and how true it is.
Here are a few ways to improve customer service at your business:
1) SMILE – Sounds too simple, right? As a customer, would you prefer to be serviced by a smiling face, or a scowl that would befit a guard dog?
2) LISTEN – Always be slow to speak and quick to listen. Let customers express themselves without you trying to do it for them. Nobody likes being interrupted.
3) DON’T BE TOO PUSHY – Yeah, I know – the bottom line is sales, right? There is a fine line between suggesting products/services and pushing them down a customer’s throat. If you are too pushy, your customer will probably walk away and take their business elsewhere.
4) PHONE ETTIQUETTE – Whether you are answering or initiating a call, always remember who the customer is. Be polite. Try “Yes sir/ma’am” instead of “yeah” and “nope”. If you don’t have an answer for your customer – offer to do some research to find what they are inquiring about.
5) THANK YOU – ALWAYS thank your customers. Even if you could not help them or they decided not to purchase from you. Leave them with a positive impression of your business before they leave.
6) TRAINING – Train your employees. Don’t let an untrained employee ruin your track record of excellent customer service. Train your employees on-the-job for as long as necessary to teach them good customer service.
“And as ye would that men should do to you, do ye also to them likewise”
Luke 6:31
In conclusion: Customer service may be THE most important aspect of your business plan. I know of many people who are willing to pay a little more for a product or service in order receive excellent customer care. Price, advertising, and location are all vital to a business—- but whatever you do, don’t overlook the all-important “Good Customer Service”.

 

Goal Setting for your Home Business

The ability to set goals and effectively motivate yourself to achieve them in home business are two essential skills that you cannot afford to overlook.
To try and start a business without goals could be compared to throwing a baseball pitch, blindfolded in the dark. What would be your chance of getting your pitch on target? Never mind getting a strike-out. Unless you are very lucky it is unlikely that you will have any success without properly setting out goals.
If when you start your home business, in what ever field it maybe, if you have no goals and aim at nothing, is it not unlikely that you will hit nothing and achieve nothing?
To set effective goals there are a few things you need to know about yourself which will affect how you set your goals. You are affected by, the environment in which you live, your experience and knowledge, your attitude and dreams and visions for the future.
When you set your goals you need to decide what you want and when you want to achieve each goal. You should spend time writing down your goals and display them in a prominent position where you will see them daily to remind yourself to stay motivated and focused. Cross off your goals once they’ve been achieved, adding new ones to ensure your business keeps growing.
“Don’t set your Goals to low. If you don’t need much, you won’t become much”. – – Jim Rohn – –
I’m sure you will have come across the SMART analogy, with regards to goal setting. It contains the most important concepts to consider and adhere to when setting your goals.
Goals should be; Specific, Measurable, Achievable, Realistic and Time related.
For example it would be unwise to set a goal of making $10,000 in a week, it’s just not a realistic goal for the average person, unless you have a lot of experience and knowledge in your field or receive help from someone who has these attributes. When you failed to reach this goal your motivation would suffer and you might start doubting your decision to start your home business.
Ok let’s set some goals, firstly, though I want you to write a list of all the things you want; whether it is a new car, watch, house, sofa, to send your kids through college or a successful home business, write them all down and say why you want it. When I did this I had a list the length of my arm and I’m still working through it 3 years on. By doing this it will help focus your mind and motivate yourself to succeed.
Now set your goals, they need to be SMART and you need to set both short term and long term goals. One of the best techniques I use is to set 6 goals before I go to bed for the next day and prioritise them. All successful people set goals and prioritise them in order of importance. Remember your time is your most important asset; you simply cannot afford to waste it.
We are what we repeatedly do. Excellence, then, is not an act, but a habit. — Aristotle
By making goal setting a habit there is no reason why you cannot achieve excellence.

 

The Work At Home Lifestyle

When we’re young, we have this perception that we’re totally invincible and for a while, we are. Slowly but surely however, age catches up with us and all the liberties we took with our bodies begin to catch up with us.
Today’s job market particularly in my part of the country, is a young person’ game. I remember working in the factory and you could look in the eyes of the people that had been there for a while and they were empty and lacking hope.
Some had already lost jobs and benefits after 20 plus years of loyalty only to be on the fringe of losing it all again after another 20 years in a different place. When you see this day in and day out it really makes you think will this be me in 20 years? Will I physically be up to the challenge that my job requires?
I wanted more. More for myself, my family, and our future. Corporate America wasn’t the way to go as it couldn’t give me all I was longing for. I yearned for the independence that only working from home could provide.
The possibilities were endless! We all see the banners, people lounging around on the beach, or sunning beside the pool. Once you get your head out of the clouds and realize that now, you’re actually a small business owner; it really brings you back down to earth quite quickly!
To be a success in the work from home industry you must realize that although different in many ways, this is still a job or chosen profession if you will. You are its President, CEO, Secretary, and on some days, the Janitor. In this business you’ll find the biggest stumbling block is YOU! Fear of the unknown, fear of failure, pretty powerful in their own rite but let me impart this pearl of wisdom – success and failure are on the exact same road, it’s just that success is further down the road.
In the end, the only one who can let you down is you. To be sure you’ll be facing a lot of hard work. Overseeing the store, calling all the shots, sales, marketing, answering phones, taking orders and the like but, there’s no feeling like the total sense of freedom you’ll enjoy by owning your business.
The feeling of this kind of freedom can be overwhelming as few get to experience it. A word of caution here don’t let the euphoric feeling you’re having lull you into a false sense of security. Your schedule must be rigid, you must be driven to succede, and you must not let your defeats get the best of you. Listen to those around you who have succeeded they have already paid their dues in time and money so, doesn’t try to re-invent the wheel.
In closing and probably the most important thing for you to have is belief a belief in what you’re doing and why you’re doing it, a belief in your products or service, and a belief in yourself. I can believe in you all day long but if you don’t believe in yourself then my friend, the race is over before it’s begun.
Keep focused on your future, your hopes, your dreams, and what you want to accomplish. Let the nay Sayers have their piece just don’t let it deter you from the path you’ve chosen for yourself for success is at hand and today can truly be the best day of the rest of your life.

 

Is Your Home Business Properly Insured?

Do you work from home full-time or part-time? Chances are your homeowner’s insurance doesn’t cover your home business, or at least not to the extent you need it to. For one thing, insuring just the physical assets of your business (computer, home-office furniture, fax machine, etc. ) doesn’t encompass every aspect of your business.

To figure out how much and what kind of coverage you need, consider possible accidents; hopefully, nothing untoward will befall your business or your home, but you should plan for any eventuality so you will not suffer financially if something comes to pass.

If a fire were to destroy your home and office, consider where you would work until your home was rebuilt. You would probably need to rent a temporary office space somewhere. Does your current insurance policy cover this?

Do you retain any sort of client information, either on your computer or in files? If your computer was ravaged by a virus, or your files damaged in a fire, and you didn’t have copies of all that information, your clients might hold you liable for the loss.

If you have clients visit you in your home office, your homeowner’s insurance might not cover their medical expenses should they trip and fall down your stairs or some such.

Do you have any employees? Even part-time employees may affect the kind of home business insurance you need.

As you can see, there are number of factors you need to take into consideration when insuring your home business. Talking to your current homeowner’s insurance agent can probably get you started in the right direction. You might not even need separate home business insurance. Depending on your business, you may be able to receive coverage for it simply by enhancing your current homeowner’s insurance policy.

Tip: If you bundle your policies (i. e. car, homeowners, business), you may qualify for a discount.

As more and more people pursue home-based businesses, insurance companies are starting to offer more comprehensive coverage at better rates. Make sure to talk to a number of insurance agents to find out who has the best rates, most options, and best coverage.