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What is a Home Business?
A home business is one in which you run from some
space in your home. Your office can be your kitchen
table, a spare bedroom.... It's up to you. What really
matters is that you have a designated work area for
business.
Note: It is NOT required that you have an entire room
dedicated to your business. Many home owners begin
by simply making use of "room dividers". This option
works particularly well for people with children.
In essence, a home based business is one in which you
do not rent office space in order to conduct your routine
business activities.
Why begin a Home Based Business?
· Your income depends on your efforts versus what your
employer believes the company can afford to compensate
you.
· No fear of being layed off
As you are aware, companies are downsizing--everyday
and good hard working people like yourself are losing
their homes, automobiles and overall lifestyle's as a
result.
· No job pays you what you are worth. Employers create
budgets so that it profits from your production. You,
as an employee, are compensated only a FRACTION
of what you produce enabling the company and its' owner/s
to enjoy the greatest benefit.
· The value of a dollar generated from a home based business
has a higher value than that from an employer.
· The earnings generated from your home based business
arrives to you FREE of Withholdings and deductions.
In fact, you don't have to pay taxes on that dollar for
up to 3 months from the time you earned it.
· You can enjoy the benefit of certain no cash tax deductions--
for machinery, certain supplies and office space that you
business uses within your home.
· You can write off the business usage on your automobile.
· Enjoy more time for yourself and your family
· Enjoy business related trips that can also serve as vacations
· Allocate funding for retirement as you see fit. Your business gets
a deduction for money that it allocates toward your retirement.
The list goes on. There are a variety of GOOD REASONS
to become a business owner. Which ones are important to you?
Some important considerations for
Business Ownership:
· You want to choose a business that you truly enjoy.
I've learned that the quality of one's production
is greatly influenced by one's enthusiasm for his/her
business.
Your enthusiasm impacts your production and your
production influences your customer base. Your
customer base influences your enthusiasm...You see?
OwnABizToday, publishes its content twice each week;
a variety of home based business start-up's. We
provide you with Step by Step instructions so that
you can make an informed decision on the business
opportunity that fits your lifestyle.
· You'll need to decide whether you want a "work at home"
business or a "work from home" business.
· Do you enjoy working with people? A "work from home"
business may be for you. For instance, certain types
of consulting home businesses and child care, and
wedding planning businesses are
"work at home" businesses.
· If you prefer working alone--A "work at home"
business" is likely a better fit. Primary
communication generally via telephone, fax,
email and the postal service. Some examples
of "work at home" businesses are, Mail-Order
and Secretarial businesses.
· Decide where you will work
Specify EXACTLY which area of your home that will
be dedicated to your business.
· Try to determine how your business will affect your family
A new business can be demanding. You'll need to
predetermine how you will reward your family members
for supporting you.
· Determine what your "working hours" will be. Don't fall
into the trap of thinking that you can run a profitable
home based business without consistency. It wont
happen.
While it is reasonable that you begin your
business part-time, it is required that you work with
as much consistency as possible.
If you can provide consistency to your employer, making
them wealthy, certainly you will need to do the same in order
to bring wealth toward yourself. You're worth it.
By the way, it's important to develop a mind set for business
ownership as well as a respect for wealth and money.
Many of us have internalized the misperception that money
and wealth are inately bad or that we don't deserve such
luxuries.
This mentality will KILL your business. You MUST
reconstruct your respect for money. Money in and of
itself is not bad or evil. Some of the most giving individuals
are VERY wealthy. So...you can remain a loving and giving
person while enjoying a wealthy lifestyle. It's a choice.
While on your journey toward "respect for wealth" and the
attainment of it, I suggest that you pick up
"Think and Grow Rich", the most Phenomenal text
every written on wealth. The text consists of 10+ year
assignment on what is required to attain wealth. If you read
and then study this text, you will be well on your way to
having the mind set for creating wealth.
You are more than welcome to pick this text up as my gift
to you, from our web site: http://www.ownabiztoday.com
· The next step in determining the best home business is to
streamline your focus to a specific business based
upon your talents, likes, skill and desired income.
In an effort to save you both time and money,
OwnABizToday investigates, evaluates and then
publishes the results in our bi-weekly Ezine.
· After you have decided on particular business, you'll need to
spend time evaluating the business for yourself.
For example, you might want to contact,
Trends Research Institute and Worldwatch Institute
to learn more about marketing trends.
· If your company or product is unique, it's a good idea to
protect them by obtaining a patent, trademark, licensing, or
copyright.
· A Patent grants your business exclusive rights to
an invention for a determined period of time.
· A Trademark is used to characterize the products of
a company.
· To inquire whether or not another company is using
your name, visit your local public library.
· A Copyright is the protection for classifications of
original works. Use this for books, magazines,
speeches....
· A License is used in situations where you have
exclusive technology. This option is used
when you grant others permission to use
your concept.
· Now, you'll want to focus on creating your Business Plan
which is a strategic plan for your business' success.
It defines your business, identifies your customers,
identifies your short and long term goals and finally, it
details the strategy that you will implement to attain
your goals.
Your business plan can also be used to attain financing.
You do not want to skip the step of creating a
Business Plan. You will need to refer to it frequently
in an effort to determine whether or not you are on task.
We cover Business Plan Creation in OwnABizToday Ezine.
Make sure to compile the various issues.
Note however, that every 3 months we remove back issues
for updating. The time at which they are replaced varies.
On the other hand, in addition to presenting a variety of
Home based business Start-up and How To's, we continue
to re-visit selected business start-up topics
with Business Plan Creation and Obtaining Financing
and Creating Credit being three of the topics re-visited.
· Financing considerations
Depending on the Home Business Start-up chosen, you
may require external funding. Some of the most
successful Home based buisnesses use external
financing to propel their businesses.
Of course to borrow money costs money but usually
the funding obtained from external sources can propel
your business faster than your own personal resources can.
If you have credit problems which prevent you from
obtaining external financing, you are welcome to visit
OwnABizToday and obtain, "Credit Secrets verson 5".
For the "Do it Yourself" person, there's a great
business plan workbook available. It walks
You through the steps... A fill in the blanks type book. It
Really helps. You can check it out at
http://www.ownabiztoday.com/businessplan.html
You might also check out some Business Plan Software which
provide wizards, samples and analyses.
These often produce "polished" professional looking
Business Plans. In fact, I've actually spoken with people
who have used the business plan Software to create their
Business Plans and then subsequently obtained Bank financing
for their Business. They just rave about it.
You can learn more about it here
http://www.ownabiztoday.com/bplanpro.html
To learn more about Home Based Business Ownership, visit us at:
http://www.ownabiztoday.com
To subscribe to OwnABizToday Ezine, visit
http://www.ownabiztoday.com/subscribe.html
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What sets us apart?
We scour books, magazines and the internet for legitimate home based BUSINESSES, then we provide to our readers, the information attained regarding that business. We cover start up and time investing, projected income and resources.
Further, to ensure that your business of choice runs as efficiently as possible, we provide you with valuable resources and tools--We evaluate them also...Helping you to make informed decisions about the services and products that you incorporate into your business.
To subcribe, visit: http://www.ownabiztoday.com/subscribe.html
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Bridging the Gap between Opportunity and Success,
OwnABizToday
Shawn Price
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