Posts Tagged “business”

Run Your Home Based Business Like A Real Business

014th Sep 2012Home Based Business, Internet Marketing, Online Income, Work from home, , , , , , ,

Run Your Home Based Business Like A Real Business

Home based business something you have been thinking about starting? There are a lot of things to consider when you work from home. If you need help getting through the do’s and don’ts of a business you run out of your home, then this article will give you the help you need, so that you understand how to make it successful.

Home based businesses are a subject of which there is a lot of bad information. Make sure you do research on any opportunity you are considering pursuing. You want to make sure you see reviews that are written by independent people, not those who are getting a cut every time the program is sold.

If you plan to operate your home based business while remaining employed by a larger company, you should ensure that you are not actively competing with your employer. Not only is this bad business and borderline unethical, but it can also have severe legal repercussions further down the road. When in doubt, take the safest route.

Before you begin a home based business, you need to develop a business plan that maps out the course of your business, including your financial expectations. You should be willing to spend some time writing this out because if you need investment partners, they will expect you to have adequately researched your business and have the ability to present your ideas well.

Consult with your accountant to find out about the tax deductions that are available to you when you run a home based business. You can usually claim a dedicated room in your house as your office and take deductions for supplies, equipment and gas mileage that are related to your home based business.

A home based businesses is special in that you make your own schedule and are your own boss. However, a good tip to consider is to employ a close friend as an adviser. Often times you can be seduced to be far too leisurely with it because it is from your own home. Having that friend as an adviser will help keep you honest about the business.

Testimonials can be a powerful marketing aid for your home based business. You should ask for endorsements from the users of your products or services at every opportunity. Concentrate especially on those who receive free samples of your wares. Sample recipients are not only inclined to be more positive, they feel generally more obligated to provide testimonials.

Choose a name for your home based business that has meaning for you. Having an interesting name can make customers curious about your business, which means they may even ask you what it is and how you got the name. Make sure it has an interesting story behind it and you may soon find yourself with loyal customers.

Give incentives to your customers for referring their friends to your business. Word of mouth is the most powerful way of advertising because the recommendation of a friend is always more reliable than any flyer that you can send. Incentives also encourage your existing customers to remain loyal to you and your home based business.

Manage your time and priorities to allow the main operations to be completed efficiently and properly. This may sound to be obvious, but there are many that fail to realize time and priority management as such an essential practice. Managing time and priorities ensures that you give your main operations the best focus and most efficient care possible.

You can write off the cost of new furniture, electronics and other expensive items for your office, on your tax returns. Having an up-to-date computer and a comfortable work-space, can help your efficiency greatly. However, to avoid trouble with audits, make sure that anything you write off is being used mostly or exclusively for your business.

When making the decision of starting a home based business, it is important for you to pick a subject that you are familiar with. Remember, you own the business, so you do not want to have the responsibility of having to deal with customers’ problems and not knowing what to do about these problems.

As was stated at the beginning of this article, having a home based business requires a lot of work and follow up in many different areas. The tips and suggestions here should help anyone who already has or is hoping to start a home based business make it more successful.

 

Home Based Business in America

117th Jul 2012Business News, Freedom, Home Based Business, Income, Money, Self Employed, Work from home, , , , , , ,

Home Based Business In America

According to MSN Money Entrepreneurship Starts at Home

The idea of waking up, putting on slippers and walking down the hall to “work” sounds appealing to a lot of people. But it’s not the main reason more than half of the nation’s businesses call home their office.

The contestants in StartupNation’s 2010 Home-Based 100 competition demonstrate once again that in today’s economic environment, homes serve as staging grounds for many an entrepreneurial dream. They nurture bold ideas and innovation.

An excellent info-graphic outlining a variety of statistics about Home Based Businesses in America may be found below.

Home Business In America

Source: MSNBC

 

Mark Cuban’s 12 Rules for Startups

010th Jan 2012Income, Money, Online Income,

Anyone who has started a business has his or her own rules and guidelines, so I thought I would add to the memo with my own. My “rules” below aren’t just for those founding the companies, but for those who are considering going to work for them, as well.

1. Don’t start a company unless it’s an obsession and something you love.

2. If you have an exit strategy, it’s not an obsession.

3. Hire people who you think will love working there.

4. Sales Cure All. Know how your company will make money and how you will actually make sales.

5. Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but aren’t as expensive to pay.

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