If you are like many people today and want to join the ranks of entrepreneurs there are a few things that must be taken into consideration before you start a Home Business.
Know these points before start home base business
The first: and most important tip is Don’t Quit Your Day Job Yet! Starting any business will begin as a loss. Most new businesses will run in red ink for at least two to five years. There are advance expenses that have to be recouped before you begin to make a profit.
Second: investigate any business venture you are interested in thoroughly. There are so many get-rich-quick schemes floating across the airways, TV, Internet, and print advertising that you cannot jump blindly into any venture without first investigating. If you do not, you might as well walk out to your trash can and open your wallet and toss the money you’re carrying right into the garbage.
The effect is the same. A large part of the investigation is not only into the parent company but with others that also operate similar businesses. Ask how long before they began to make a profit and what kind of taxes they pay and what type of volume their business has and most of all would they recommend this business to anyone. Make an informed decision before committing to anything.
There is no guarantee that you will succeed with your home-based business, regretfully, but you have a better chance if you follow these tips.
Third: Decide on what type of business it will be. Will it be a service business where you physically go out to your customer base and perform a service, i.e.: house cleaning, lawn care, house painting, window washing, etc? Or are you going to produce and/or sell a product based out of a home office or via the Internet, catalog sales, or phone sales?
Fourth: Know exactly what your initial financial outlay will be and the residual monthly costs for advertising, storage space (if necessary for products), website hosting and insertion into search engines, license fees (some cities, as well as states, require a home business to be licensed), sales tax requirements, additional phone costs, and how much time will you need to devote to your new enterprise.
Fifth: Prepare a complete financial plan (budget) and stick to it like glue. This is where most small home-based businesses go belly up. The first item on your plan will have to be a separate checking account or dedicated account for the business. All monies relating to your business MUST be kept separate and distinct from your personal household account.
Once you mix (the legal term is co-mingled) your funds you’re already in trouble, because you will eventually dip into the portion of the money that is for the business for personal use and not have funds available to pay your business bills.
Sixth: Set-up a dedicated work area in your home to operate your business from, a home office where you can do paperwork and handle phone calls, etc. If you will need to store inventory or tools and equipment for your business you will want to set up a storage area in the garage, carport, or storage shed.
Seventh: Advertising is a must for any business to survive and thrive. There are many forms of advertising that you can start with: an ad in the local newspaper, an ad in the local advertiser (free weekly or monthly publication that is delivered to all homes in the area),
generating and distributing flyers, search engines directing potential customers toward your website, persuading the media to write an article about you (present yourself in such a way that the local media people will consider you a good Human Interest Story). Other than inventory, the largest outlay of funds should be for advertising.
Eighth: Reputation. Develop a reputation for a square deal and always respond promptly to your customers, this will drive more business your way through word-of-mouth and repeat business. Mentally grit your teeth, if necessary, when dealing with customers. Remember you catch more flies with honey than with vinegar. Smile, even if it hurts, and never let them see you lose it. And never forget a customer’s name even if you have to look it up just before you contact them.
Ninth: Never talk bad about your competition. People don’t want to hear your opinion of the competition, they want to hear what you intend to do for them. Have references ready and examples of your work or product.
Tenth: Always do everything when interacting with customers in a neat and professional manner. If you are selling a product that has to be shipped by some means, be sure everything is packaged neatly and with proper protection so that the product will arrive as if you just reached from the shelf and handed it to your customer. In service businesses, always appear neat and clean, Your appearance is your customer’s first impression and it is the first impression that makes the difference.
Follow the above ten tips and you are well on your way to building a good business. As I said before, regretfully there is no guarantee, but following the above will increase your chances. Good luck in your endeavor and one last thing: HAVE FUN, if it is not fun now it never will be and you will soon tire. So have fun and watch your new business grow.
When you think of a home-based business, you probably think of providing daycare for children and babies, house cleaning and window washing, bookkeeping and tax preparation, and lawn care. Many people have typical businesses such as these, and they earn a decent living by doing them too.
But if you’re considering starting your own business, there are other ideas you can use to earn a decent living too. These are not your typical home businesses, so you’ll have the advantage of being a “one of a kind” business that has little or no competition.
A good place to start is to check around your city and determine what types of products or services are not provided, but are needed. Here are ten home-based business ideas to get you started:
1 Construct Crossword Puzzles
If you enjoy working with words, then this might be the job for you. Most anyone who has a firm grasp of the English language, a software program, Internet access, and a computer can construct crossword puzzles. To find markets for your work, you can perform a search on the Internet or check out the current editions of puzzle books for contact information.
2 Collect and Sell Nuts
There are several companies that buy nuts such as chestnuts, hickory, acorns, et cetera. The great thing about this home business is that you don’t even need to own an inch of land! All you need to buy is a nut collector.
which is a hand-pushed device on wheels that picks up nuts and stores them in a bin. Then, ask your neighbors, family, and friends that have nut trees on their property if you can collect the nuts. Since nuts can be a nuisance lying in yards or on sidewalks, most people will gladly allow you to take them for free!
Then, find a market for them by checking your local yellow pages or the Internet.
3 Collect and Sell Herbs
If you know your herbs, you can start your own home-based business and get some exercise at the same time. Health food stores are often on the lookout for homegrown herbs such as Ginseng, Chamomile, and Spearmint. Check your local phone directory and contact several health food stores to determine if they buy from private suppliers, what herbs they buy, and how much they pay before you begin.
4 Provide Genealogy Services
Many people are interested in their family’s history, but yet they don’t know where to begin a search. You can offer your services and supply them with a complete genealogy of their family for a flat fee.
Basically, all you need to start this business is a home computer, a genealogy software program, Internet access, and access to court and library records.
5 Provide Errand Services
With the fast-paced lives that everyone leads nowadays, there are often not enough hours in a day to get everything done. You can help out busy people, senior citizens who don’t drive, disabled persons, and others by contracting with them to do their errands. Simply decide how much you need to charge, and then advertise in your local newspaper.
6 Compile and Market Cookbooks
Cookbooks are always a popular seller, especially if the recipes are nutritious but quick and easy to make. You can use any word processing program and your computer to write up a book. Then, either print off copies or take the master copy to a printer. Advertise in your local newspaper or on the Internet to sell copies.
7 Provide Home Inventories
Everyone needs to have their belongings, especially expensive items and collections, inventoried in case of a fire, theft, et cetera. If you have a camcorder, you can charge clients a flat fee to make documentation of every item in their house.
As you walk through each room, have the owner describe their items as you document them on tape. Then, give them the tape and instruct them to store it in a fireproof safe or lock box.
8 Design and Build Pet Furniture and Toys
Ideas for these include handmade cloth toys that have Catnip in them, cat beds, dogs beds, scratching posts, leashes, collars, et cetera. Then you can sell them at flea markets or over the Internet.
9 Provide Daytime Adult Care
You may need a license for this home-based business, but other than that, the start-up costs are minimal. You can provide lunch, snacks, and beverages, as well as activities, games, and basic, loving care. To find clients, advertise in your local newspaper.
If you have a good quality camera, you can take snapshots of homes and turn them into either postcards or large framed photographs for homeowners. You’ll be surprised at how many homeowners will gladly buy your products!