Thursday, January 10, 2013

Getting Started With A Home Business

By Ronald Gilligan

If you're like a lot of people, you have wanted to work from home for a long time. You can do it, you simply need a plan. A home business has to be built, but you can do it if you have a great idea and the drive to do so. Here are some tips for getting started today.

Do not use the same email address for personal and professional communications. Your professional email should have a very formal feel to it probably be your first and last name, whereas your casual email might be a funny nickname and more anonymous. You also do not want to have to check your professional emails on days off.

One good way to jump start your home based business is to send emails to your friends notifying them of your business. This will not only give you your first set of customers, but they can also act as advertisers as they tell more and more people of your business.

The problem is that once your hobby becomes a business, you can lose your focus. Many business owners make the mistake of focusing on how much money they're making rather than on what they are doing. You may accept more orders than you can handle or agree to get things done more quickly than is reasonable in order to make more money.

You must make sure you keep track of all of your transactions. This goes for any purchases you make, including keeping track of them for tax purposes. This also goes for all of your sales as you start to make money. You need to keep good records, and this is all part of you having your business running efficiently. Always remember too that you must have an efficient work space in order to do this, and of course that work space must be somewhere inside your home.

If you need an initial investment, dealing with either time or money, a family member with a little capital or some free time on their hands can be a godsend. You obviously still want to repay your family member for the money or effort they put in, but the great thing here is that a loved one might not expect anything in return. They'll help just to help you. That's the best kind of help available.

If you do not have the resources to pay for a small business coach, contact SCORE (Service Corps of Retired Executives). This volunteer organization is comprised of retired business owners who have years of successful business operations under their belts. You can select experts based on their backgrounds and the types of companies and industries they have been involved in, as well as special areas of expertise such as manufacturing or selling to certain types of customers.

A lot of people shy away from starting up their own business because of the initial investment. For a home business, you won't have to spend as much, but that doesn't mean you can do it without cost at all. Set and stay on a budget if you're worried about money. Stay within a certain limit and make your ends meet through creative ways.

With every order, attach your companies contact information for clients to pass out to their friends. Again, be sure to offer the customers discounts for bringing new customers to you. This will give everyone a fair deal.

Staying organized is essential if you want to keep a firm line between your personal and professional lives so that your home business has the time, space and attention it needs to grow and thrive. Just putting a little time into organization and keeping things orderly will assist you in maximizing your time management. You can totally forgo the frustrations that come with disorganization.

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