How to Start A Home Based Business 101

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8 simple steps to starting your own home based business.

Find your niche! I can't express this enough.

I do realize that many of you understand the idea of this. The problem I find most people pondering is how you actually find your niche. It's really not as complicated as it may seem. An easy way to figure this out is to write down on paper a list of all your skills, talents and hobbies. Your niche will be on this list. Figure out which one of your talents, skills or hobbies you are the best at and passionate about. Then use that to create a business.

Research.

Now that you have your niche you need to research it. It is one thing to do it for fun and it is another to do it for your business. The internet is full of information so read up on it. Find out what certifications and licenses you will need. You may love to style hair but are you qualified for that business? Also, find out what equipment and supplies you will need to purchase to actually operate that business. What are the start up costs? How will you fund this business? What are the daily tasks for that business?

Who is your audience?

This is simple enough. Who will you sell your products or services to? This is often called a niche market. It is much easier to sell your services or products to a certain group of people rather than to sell it to everyone. So decide who you will market your business to.

Plan of Action.

Start taking the necessary steps to making your dream a reality.

• If required, take those classes so that you can get your certifications mandated by your state.

• Begin buying equipment & supplies. You can also rent them if they are too pricey and you want to get started sooner.

• Set-up your home office.

• Come up with a business name and register that name with your state, either as fictitious name, D.B.A. or as a corporation.

• Go to your county office and get your business license or occupational license.

Get organized!

Get yourself some business forms. This will help your business run smoothly. The type of business forms I like to keep on hand are a message book to keep track of my phone messages, receipts, invoices and a daily task sheet.

What are your marketing strategies?

Will you pass out flyers, door hangers, or business cards locally? Will you advertise by connecting with people in social networks? Will you pay for advertising such as online pay-per-click solutions?

Get a website.

I can't tell you how many of my clients come to me and say "I need a website. I don't know why but people keep asking me if I have one."

The truth is, accessing the internet these days is a way of life. Consumers use the internet to search for businesses, research and compare businesses. So not having one will just leave you out of the running. You always want to be in the competition.

Promote! Promote!

You can have a great business but if no one knows who you are, it cannot be profitable. Continue to advertise in conventional ways and non-conventional ways. Just don't break the bank doing so. 10% of your businesses income should go towards advertising. Never exclude word of mouth. The cheapest form of advertising there is.

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