Home Business Starter Plan
People endeavor to start home-based businesses for many reasons. In some cases, it is the lure of owning a business, while others may feel that they can be more successful calling their own shots. Starting any kind of business requires planning, and that is why you should create your own home business starter plan as you look into establishing your own company.
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An Idea
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Create a list of several business ideas that interest you. You will be dedicating much of your time and resources to making your business successful, so choose businesses you feel you can commit to. Use reference materials such as the free "Occupational Outlook Handbook" offered online by the Bureau of Labor statistics to get an understanding of what the professions you are considering require in the way of educational background and experience, and what tasks you will be called upon to perform. If you are able to talk to people that currently run businesses in the fields you are considering, do so.
Certifications and Insurance
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To run a business from your home, you need to register for a business certification or license. Contact the town or city clerk's office to find out how to get a business certificate and what the cost is. You may also need further certifications. For example, to start a handyman business from your home, you may need to get a contractor's license. Discuss insurance needs with your agent. If you are using your personal vehicle for business, you may need additional insurance. Arrange for business liability insurance in case a client's property is damaged while you are working for him.
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Office
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Set up some sort of office space for your home business. Find an area where you can work without interruption, or you can close a door for some privacy. You will need a desk, phone, printer, copier, fax machine, filing cabinet and computer. All the equipment you need can be purchased second hand or leased to save on costs.
Approach
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If you have a full-time job, then schedule your home-based business activities around your job. Make your home-based business a part-time venture until it begins to generate sufficient income to make it a full-time career.
Business Plan
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Develop a business plan that includes what your business does, your sales and marketing plans, your start-up funding needs and your first three years of revenue projections. Your business plan should start out small to coincide with the part-time nature of your business and include plans on how to grow the business to reach your long-term goals.
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References
Resources
- Photo Credit working at home image by sumos from Fotolia.com
