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Considerations for Starting a Home-Based Business

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Home-based business owners are increasing every year. They are CEOs, presidents, the board-of-directors, simply put, “the boss” of their businesses all-in-one. Unlike employers of other companies, every action they take affects their business in particular, the bottom line or ROI. That includes investment of time, money, family responsibility and business sustainability, which includes financing, budget, marketing, advertising, customer relationship and suppliers; maintaining production of services and products and keeping accurate records.

Running a home-based business can become overwhelming, and many aspiring business owners go out of business in less than a year. Does the prospect of working from home sound too good to be true? Well, it shouldn’t. Almost everyone can restructure or change their working life so that they can work at home, either full or part time, for employer, freelancer, affiliate, or independent.

This major life change may take patience, creativity, and a little sacrifice, but before long, you could be commuting from the kitchen to your office, a cup of coffee in your hand and the sun shining through your window.

What considerations or profile is needed to start a home-based business:


Description of the business – describe activities involved in conducting the business task

Start up costs and financing sources – estimates what it will cost to get a business going and suggests financing options

Marketing and advertising methods – the degree of success you enjoy in business is directly related to your ability to continually attract new customers and keep existing customers

Essential equipment – list the basic materials you need to start and run your business, such as computers, internet service, printers, ergonomic furniture, etc.

Skills, training and experience needed – describe the knowledge or background needed, experience and skills you may possess for the business and those skills you need to acquire

Type of business – lists whether it’s an in-home or out of home (meaning you have a home office, you work away from home) business.

People work from their homes for many reasons: unemployment, low salary, high cost of day care, difficulty finding a job, both spouses work to maintain a medium standard of living, single mom, no control over work schedule, etc.

Make a plan; it’s your key for success to achieve your goal. Your road to success requires planning. You must make plans, think about them, and act on them. Action is essential to success as a motor and fuel are to an automobile. A major purpose well-stated is half-achieved, restate your major purpose in the progressive tense, action seals the habit of succeeding and eliminates:


Inability to concentrate on what is important

Loss of faith in yourself

Clinging to the status quo

Lack of organization

Stagnant mind set – custom is king (though it shouldn’t be)

Failure to evaluate yourself

The ultimate formula for home businesses or any business to succeed is really quite simple. What is that? A marketing system for autopilot lead generation ensures long-term success. Here are six reasons why:


Generate quality leads consistently and economically

Convert as many of those leads as possible into sales

Ensure that you delight your customers so they’ll be pre-disposed to buy from you again and recommend your business to others

Repeatedly sell refills, replacements and other products to your family of existing customers

Ask customers to refer you to others who may want the same benefits

Keep going back to step #1 and repeat the pattern again

Though a home-based business may lead to a more hectic home life, home-based businesses have the important element of flexibility not usually found in a 9-5 job. Home-based business owners can tailor businesses to fit the needs of customers as well as their family needs. Truth is, many home-based businesses are mobile in recreational vehicle offices on the scenic routes making hundreds, thousands, and millions of dollars a year. They have the freedom to work in their offices at any hour; run their businesses according to their philosophies; and pursue any opportunity or destination they prefer. A Chinese proverb says, “Journey of a thousand miles begins with the first step.” But in what direction? Plan your direction.

When the goal is clear, the purpose is strong; the steps will be decisive, assertive and forceful. Direction and determination decide destiny. Before you open for business or begin to advertise, check with your local authorities about having a home business, your state regulations and licensing requirements. Your regional Small Business Development Center (SBDC) will also have information about your state’s business regulations.

Your key for personal success is persistence because persistence produces results. You can be a successful home-based business entrepreneur.

A.S. Muhammad/Affiliate ID#: 52548312, Karatbars International,
email: wizoption@gmail.com

Consultant available for seminars and workshops. Phone #: 559-840-5586
Helping families, businesses, and non-profit organizations acquire a free real gold savings account where they exchange paper money for real currency -gold.I give people across the world a safe platform and method to transfer from paper currency into gold bullion one gram at a time. Generation to generation, gold has secured the wealth of the world. The foundation of our world’s economy is gold. Karatbars makes gold affordable for everyone.

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Education is the progressive discovery of our ignorance. Only the educated are free!

Article Source:
http://EzineArticles.com/expert/Abdul_Muhammad/2266035

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