FAT-WHYME

Home business success in 22 steps

INTRODUCTION

Fifty million home-based businesses will be operational, in 1997, according to Link Resource's National Work at Home Study. Across the country, people who want more control over their lives (at home and at work) are starting home businesses.

In New Orleans, Louisiana, home of Rick Hart based cajun Cargo ships seafood nationwide. In Palatine, Illinois, Stephaine Heavey works from home designing and selling original patterns for cloth dolls. And in Dallas, Texas, Lisa McElya published the Dallas Party and Event Planners Guide entire first floor of his house with two floors.

These three people are living the American dream of owning a new company and his own business, but without the burden and overhead of having a physical location of business. virtual or Internet companies are ideal because their initial cost and initial investment to put in place tend to be much smaller. For example and in general companies, the online affiliate marketing does not require more than an Internet connection and perhaps a web site. If the idea of working from home is appealing to you, but you do not know where to start, here is your step by step guide brought to you by iMarketing CompuLinear Software Group.

STEP # 1 DECIDE WHAT PART OF THE HOUSE OF USE

Select an area away of family activity, noise and distractions. The ideal space is a separate room (or maybe the garage, basement or attic). Almost any area will do if we can accommodate all your business supplies and equipment and also need to provide sufficient working space for the computer hardware, desks, tables, etc.

STEP # 2 to determine how long you can spend on ENTERPRISE

Many people start a home business based on a part-time basis while raising children or working outside their home. Others start full-time when family and finances allow, or have been forced to do in light of the recent recession, layoffs and corporate downsizing in the United States. However you start, you must have a plan first, you have to figure out how may hours a week you can devote to your new business, and how much seed money you have for your fledgling business venture. This is where a business plan and a little later a marketing plan are required. Make a weekly chart (see Step # 22) of their activities, which is considered to determine whether your business niche part in the grand scheme of the market. Do not assume you have time to devote to his new business only to discover later that not. Any new business requires the commitment of his time, especially if you are the only owner who put a lot of hats a day!

STEP 3 CHOOSE THE TYPE OF BUSINESS

Make a list of things you enjoy, work and volunteer experience, its knowledge base on a specific topic, and Articles of property that can be used in a business (see step # 17). Examine your list carefully, using the ideas of the list, taking into account all possible businesses to start. Eliminate any business that does not like or meet a need that many people have. If you are considering an Internet business, then use Search Engine Marketing and Research of keywords to help you decide on a possible viable online business.

STEP # 4 CHOOSE A FORM OF LEGAL OR BUSINESS ENTITY  

The three essential elements of the partnership are the sole property forms (including PAP), and the corporation (Including C, Subchapter S and LLC). The most common is the sole proprietor. As its name implies, a sole property is owned by an individual. Is how oldest companies, the easiest initial form, and the least complicated to dissolve. However, keep in mind that the sole owner of exposure to Personal responsibility is unlimited risk depends on the nature of their trade, environment, local economy, the cost of goods, trends, and some other factors. Here are some of the advantages of this form of business (entity):

1. You own or keep all the profits after expenses paid.

2. His business is easy and cheap to organize. No additional state or federal requirements for training or government approval although it may be necessary to lead a city, state or county business and / or special tax licenses. Your only other obligation is to notify the Service Internal Revenue Service (IRS) for purposes of sales tax.

3. You're the boss.

4. There are some tax savings and benefits. However, you must pay regular individual taxes on income, assets and payroll, but these are not special taxes levied, with a corporation. We also have to pay sales tax received from purchases of their customers. Check with the IRS and / or a tax on Internet sales and purchases outside their state of operation business.

5. Tends to have a greater incentive and personal satisfaction because you have a personal investment in play does not make your business successful, so they are more willing to spend extra time, thought and energy into the business. Now, when your business succeeds, you can enjoy a greater sense of accomplishment knowing that their success depends entirely on your decisions and management skills.

STEP # 5 to determine where the money will come of

There are four ways to finance start-up costs: use your own money, get a loan, grant, or the company (Angel) of capital. Using his own money is great if you have it in hand by not having to worry about paying a debt.

STEP # 6 COLLECTION OF INFORMATION

Spend a couple of weeks or more time researching the home-based business, marketing trends, marketing intelligence, and its niche business. The World Wide Web, the library or bookstore are great resources of information.

STEP # 7 Check zoning restrictions

Find how your property is zoned then call City Hall and ask about regulations that may apply to home businesses in your area. In addition, if you rent or live in a condominium, check your lease or guide homeowners association to ensure that a home business is allowed.

STEP # 8 CHOOSING A BUSINESS NAME AND REGISTER IT

If the company uses is different from your name, then submit a assumed (or fictitious) name certificate with the county. You are notified if another business already has that name, so you can select a new one. The requirements for registration of name Company may vary by region.

STEP # 9 WRITE A BUSINESS PLAN

A good business plan clarifies its mission, ideas, and establishes an action plan on how you will go to market. A good business plan should include a description of what you are selling, your background and qualifications, Who are the potential customers are and where you can find what you need to build the business, how will you advertise and promote, and how much money is needed for initial expenses. One of the biggest problems that many new small businesses is that they are undercapitalized. A solid business plan helps you chart your course toward Success!

STEP # 10 OBTAIN IDENTIFICATION NUMBER

If you are the sole owner of the company and have no employees, you can use your Social Security number or employee identification number (EIN) as the business number on official forms. If you has employees, or the company is set up as a partnership or corporation must obtain an EIN. To do this, complete IRS Form SS-4 (Application for IRS Employers) and put it in the nearest IRS Center.

STEP # 11 OBTAIN A SALES TAX PERMIT  

If the product or service you sell is taxable, you need a permit from the state sales tax. Call the local tax office, explain the type of business you have and what sells, and ask if you need to collect sales taxes. If it does, it will send the necessary information and forms to complete. This identification number taxation can be used to purchase products to sell. If you want to work with a nonprofit organization, will have to apply the 501 (c) (3) tax exempt.

STEP # 12 OBTAIN LICENSES AND PERMITS

It is very important not to overlook any necessary license or permit. For example, some cities and counties require a general business license, and most have special laws regarding the preparation and sale of food. Contact contact your local county office requirements.

STEP # 13 SELECT BUSINESS CARDS STATIONERY, AND FLYERS

Spend time in color, design, and the role of these elements. Make sure your company logo is relevant to your product or service. These are the tools of marketing and want to present your business in the best light and as competitively as possible. If you are creative, then there is a wide variety of enterprise-quality business card and software desktop at your disposal, otherwise, consult a chart designer.

STEP # 14 OPEN A BUSINESS CHECKING ACCOUNT

Call several banks to compare the services offered, minimum balances, credit cards, lines of credit, taxes and service charges. When you open your business account, may have to show their business license. Get a credit card in 'the business name, and if this is not possible, put aside a personal credit card for business expenses.

STEP # 15 SET RECORD KEEPING SYSTEMS

After doing a little research Online, you will find a wide selection of affordable record keeping, accounting and financial accounting and CRM software sales.

STEP # 16 Check IRS requirements

If you follow the basic guidelines of the IRS, you may be able to deduct a percentage of their expenses normal household (mortgage, interest, taxes, insurance, utilities, repairs, etc) as business expenses. For more information, see the IRS-# 587, Business Use of the housing, the IRS forms: Schedule SE (compensation of Social Security employment tax holiday) and Schedule 1040 ES (Estimated Tax Individuals).

STEP # 17 TEAM OF THE BUSINESS

Make a list of everything you need to start your business. Look around house for items that can be used, you will save much money doing this. Always keep an eye for quality, inexpensive items for your home office.

STEP # 18 DECIDE ON TELEPHONE REQUIREMENTS

Contact the company directly to find out the cost of a telephone company in your area. If you can not afford a separate business line, investigate the telephone company's regulations on the use of personal phone in a company. It may be possible to do this if you follow the safety instructions. Keep a record of long distance companies because they are a deductible expense. See if you can save money by bundling Internet and phone for a lower price. Prepaid card services save some money to your business too.

Finally, consider the benefits of an answering machine or service to the capture of important phone calls when outside the office or vacation. And always remember to call in a timely and professional.

STEP # 19 SEE THE POST OFFICE AND SHIPPING

The use a post office address of the company plays down the fact that it is based on the home. It also prevents customers drop in all the time. Looking rental of the boxes, ask about different postal rates on all types of dough, if you plan to ship large or specialized. If you send many local or international packages, then check out the plot many delivery services that are available and, finally, be aware shipping handling, transport and insurance.

STEP # 20 BUY INSURANCE IS REQUIRED

Ask your insurance agent owner of a pilot your existing policy or the need for a separate business policy. Also, make sure you have adequate coverage and product liability. If you are a tenant, then check with your agent or insurance broker to see if your business is covered. In some cases, you may be required to carry errors and omissions (ie, business liability insurance) insurance, especially if you engage in a professional service business such as real estate insurance, notary services, financial, architectural, engineering, etc.

Shop around, as each insurance company and each state has different rules, regulations and requirements for business operations at home.

To save money on health insurance, join an association and participate in group medical and health plan. Discount cards health care are another option for their employees and yourself.

STEP # 21 ORGANIZE THE HOUSE & YOURSELF

To allow more time for business activities and functions, organize and simplify household routines. Start by holding a garage sale get rid of unnecessary possessions. Then a family conference and divide the duties of the household tasks while ensuring that each person makes his own party. There are many organizational management software, electronic diaries and tools that can help you and your business to organize.

Set working hours so as not to deviate by TV, neighbor's visits, snacks, surf the Internet, and no telephone calls related business. This also means that you should set a specific time of day for telephone prospecting / sales calls and to return calls.

STEP # 22 HOME E-BUSINESS MAGAZINE

From pre-planning stages for day 1 and along the life of your new business, maintain an electronic diary of your business "activities of daily life, business cases and challenges, planning, action items, and of course your progress. Use your favorite word processor or spreadsheet. In doing so, you'll be surprised how much more organized and efficient your business is and how it will be much more on top of the daily operations of your business. This is also a tool for excellent customer service.

In conclusion, the formation and operation of a business at home is a wonderful, challenging and often rewarding risk. There's nothing like being your own boss and being the only or the top decision-maker. Satisfaction is not only the money earned and the growth of his, but actually doing what makes you happy and really enjoy doing.

To your success!

About the Author

Dr. Sahure is an Internet Entrepreneur and the author of many noteworthy articles about eBusiness, Internet & Affiliate Marketing, Holistic Spiritual Health and Wellness. Visit the iMarketing Group here.