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Duh Idiot’s Guide to Starting a Home Business
“Starting a Home Business”…”Work from Home”…“Be a Work at Home Mom”…”Make Millions Working From Home” I CAN’T TAKE IT ANY MORE!!!!! So why does everyone want to work from home?? I’ll tell you why, because working 9 to 5 SUCKS!! Hey don’t listen to me, here are the stats: According to The MicroEnterprise Journal “In the last 25 years, self-employment has grown by almost 300%, fueled by waning employee loyalty and growing worker dissatisfaction.” And the US Census Bureau reports that “90% percent of all U. businesses employ between ZERO and FOUR workers, making this the fastest growing segment of the business community.” See I told you! Everywhere you look on the Internet we’re bombarded with sites peddling “work at home” opportunities. The stats prove it, we’re all looking to get out of the 9 to 5 rat race.
The biggest problem is that MOST of the so called “work-at-home” related websites are so bogged down with clutter, fluff and double talk that you’d have to be a friggin robot to find and process the information you need in order to understand what the heck to do. So where can an Idiot like me get the information I need contained in a simple, concise format that’s easy to understand and follow? Well nowhere really. That’s why I wrote this article and condensed the whole process down into 5 Summarized Steps, so that maybe other Idiot’s like me will have a fighting chance in hell to get out of the “Rat Race”. Idiot Step 1: SELECTING a business – simple enough right…wrong. Questions to ask yourself: What do I like to do? What will make money? What is available? Can I make Money? These are tough questions.
These days, most people are scouring ways to make money on the Internet. If considering a TV or Internet program, do as much independent research as possible on the program you’re interested in and find something that fits your personality so that you will excel no matter what. Whatever you do use common sense and don't allow desperation to influence your decisions. Start-Up Nation - www.startupnation.com offers SOUND advice and has tons of RELIABLE resources for selecting a home business. Idiot Step 2: PLANNING your business. You will have to have some “form” of a business plan before you get started with a home business. Even if you are the only one that will ever read it, you should definitely put a plan together on paper. An informal business plan should contain a start-up budget (money you need to get to the point of doing business) and an operating budget (money you need on a weekly basis just to keep doing business).
Be certain to include all overhead expenses and be sure to include a budget for advertising. Also you should note any significant milestones you hope to achieve and list your financial goals in a time-line fashion. Idiot Step 3: FUNDING your home business. Every business has start-up costs and your new home-based business will be no different. As the old saying goes “You need money to make money”. So where do you get the money you need to start? The simplest way for home business owners to get the money they need is from the principal owner’s own pockets…that means YOU! Like myself, many work at home entrepreneurs simply use their own savings to fund their businesses, using money from personal resources such as… · Savings · Personal Investments · Credit Card Advance · Sale of Assets · Second Mortgage Loan …are all ways to finance a small business start-up using your own funds. The alternative to funding it yourself is to apply for a small business loan. The biggest issue there is that unless you have sufficient collateral, or any related experience in your field of business, you may not qualify for this type of loan. The Small Business Administration - www.sba.
gov has a TON of information and resources for start-up businesses. It contains valuable info on locating financing and it contains several links to other business resources, planning tools and calculators. Idiot Step 4: STARTING your home business. Once you’ve chosen your great new home business, and have got your starting cash in reserve, it’s time to get you up and running. But before you do, you will have to do some preliminary work just to get to the point where you can actually start operating. Two-thirds of all small business are solo operations. Therefore, when you’re a “one-man band”, you must wear different hats and assume several roles as the “head” of various departments. You’re the CEO, sales manager, director of marketing, director of finance, the shipping clerk, receptionist, the janitor…you get the drift Fonzi? Because of your heavy load, you need quality office equipment, supplies, software and business services to keep you, I mean your “departments”, running smoothly and at peak efficiency. Choose the right office equipment and machines that will keep you operating at peek efficiency. Idiot Step 5: MARKETING your home business.
Now that you’ve got your business funded and operational you will need to implement a marketing and advertising campaign so that you can start attracting customers and finally start making some money. This isn’t “Field of Dreams”. If you build it, that doesn’t mean they will come. In order to draw customers to your business, you MUST do some form of repeated advertising, and you should definitely have a plan in place so that you can budget it into your overall Business Plan when you first start. A good place to start is by reading Jay Conrad Levinson’s series of Guerilla Marketing books. This is standard reading for any small business entrepreneur. You can learn some very useful and basic techniques that will help you form a great and inexpensive plan. Everything contained here was condensed to fit into a short article format. Obviously there’s a bit more to it.
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