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Start
a Business from your Home
First-time entrepreneurs often find it easier to
start a business from home and grow it into a
full-time venture complete with an outside
facility or office. Starting a business from home
is a good way to test the entrepreneurial waters
while saving lots of money on overhead such as
rent, utilities, insurance and more.
Home employment is booming! More and more people
are starting businesses every week from their
homes. These range from small part-time
micro-business ventures to franchises. Local
zoning boards are easing up on the stipulations
that have prevented many living in residentially
zoned areas from running an enterprise from home.
Are you ready to join the boom?
Estimates vary but about 40 million people now
work from home. This statistic includes
telecommuters - those workers who enjoy the
flexibility and liberty of working for someone
else, but working from their home office. As
these home-based workers experience the joys and
pleasure of working from home, they might opt for
starting their own home-based business.
Start on a part-time basis and develop this
business into a full-time homemade success.
Before we get into our possibilities, we'd like
to outline some of the basics of running a
business from your kitchen table, garage, attic
or spare bedroom. Use these basic tips to help
you start your own business.
Pick a Business you will LOVE!
In searching for the right business to start make
sure you choose something that you love to do.
You will be spending a lot of time making the
business work, so you must enjoy what you do.
There are probably business ideas that will occur
to you that would do well in your community, but
if you don't love that particular type of
business, skip that idea and keep thinking. Find
something you love to do and then figure out how
to get paid to do it.
Make a List of Hobbies, Talents &
Interests
In researching the type of business you'd love to
start, make a series of lists of what you're
interested in and see what you're good at. Are
there are common denominators? Do you like
sports, pets, fixing things? What types of
businesses could you start that relate to your
interests. An individual who loves parties and
music might want to consider starting a mobile DJ
service.
Check out the Zoning Rules
Communities have really relaxed their rules on
residential and commercial zoning now that so
many people are working from home. But if your
home based business means that you'll have to
have huge trucks delivering goods, then beware,
your neighbors might not like it and might turn
you in to the local authorities. You will not be
able to set up a restaurant at home or a dry
cleaning business or a commercial parking lot
right on your front lawn. To find out about local
zoning laws, call your town office and county
clerk's office.
Register your Company
Take a trip down to your county clerk's office
and register your name. You will receive a
Business Index number and can then use that
Business Index number to open a business checking
account.
Establish a Professional Image
Most of your customers might never see your home
office, so impress them with your professionalism
and attention to detail by selecting a good
looking stationery system consisting of
high-grade letterhead and business cards. Get a
separate phone line so no one answers the phone
and just says, "Hello," which could
turn off potential customers. Get a fax machine,
an answering machine or voice mail and you are in
business!.
Check out your Insurance Coverage
Examine your insurance policy to see if you need
to beef up your liability insurance or add on any
other type of coverage. There are many add-ons to
consider including: business interruption
insurance, business property insurance,
disability insurance, non-owned auto insurance,
product liability and much more.
Generating Business
Print up a flier, get involved in local clubs and
other networking opportunities, send out a press
kit to local newspapers, prepare a direct mail
piece, try and place yourself as a guest --an
expert--on local TV or cable, investigate
advertising , become active in local civic groups
and associations, offer to give a speech at a
local club or gathering, send out discount
coupons, send out holiday greeting cards, teach a
class at adult education, attend trade shows as a
guest or exhibitor. All of these methods will
help you generate business and customers.
Accounting for Success
Even though you might not plan to do your own
taxes--and we do endorse the notion that you
visit a professional accountant for tax
assistance--it's a good idea to get a grip on
basic accounting principles and bookkeeping
skills. Look into a local adult education course,
browse through bookstores and find a "how
to" manual or enroll in a local community
college, but get a little accounting help under
your belt.
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