Home Advertise Contact Blog Advertiser Login RSS
Newsletter Signup

Buy A Business Opportunity of Franchise
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News
Come Read Our Featured Articles About Business Opportunities, Franchising, Business Opportunity News and More
..an excerpt from an article by Lauren Diethelm on Fundera. Halfaker...
A Small Business Success Story. MyCorporation.com & CorpNet, founded by Nellie Alkap ...an excerpt from an article by Lauren Diethelm on Fundera. Nellie...

Sponsors

I-insureme
$$$ BUILD HUGE INCOME SELLING SOMETHING EVERYONE MUST HAVE $$$ Call our 24-hour message line at 301-276-5575 now!
Carelumina
Make up to $1,000/week! We are changing the industry with our physician formulated state-of-the-art products & services!
CTFO
TAKE A FREE POSITION NOW WITH CTFO SELLING CBD HEMP OIL! Join The Hottest Wellness Trend & Next Billion Dollar Industry.
Home-Based Travel Business Making $$$$
Cash in with us on the Multi-Trillion Dollar Travel Industry by working as an independent Affiliate for World Discovery!
 
Resource Center > Article
Home-Based Business Basics 101
Share this Article:

More than half of all businesses are operated primarily from someone’s home, according to the most current data available from the U.S. Census Bureau released this past June.  And that figure is increasing with each passing year.  In fact, more recent findings by AMI-Partners, a global strategy consulting firm, report an 11% increase in the number of individuals who started a home-based business due to downsizing in 2010.  Perhaps even more enlightening is the fact that 80% of those taking the leap into owning their own home-based business venture for this reason intend on sticking with it for the long-term and do not plan to return to the corporate workforce.

With commitment like that, as the old saying goes, “If you’re going to do something, you might as well do it right.”  Thankfully the conventional wisdom among experts when it comes to these seven home-based business basics is clear.  Here it is:


  • Nail down the legal stuff early―Remember, your homeowners’ insurance policy won’t cover your business should you incur any losses, so you need to buy business insurance if that is a concern.  Secondly, smart home-based business owners verse themselves on the applicable tax laws before it’s time to file so they can avoid surprises and take the necessary steps to capitalize on any potential advantages as well.  Additionally, local zoning laws, the need for a business permit or an unanticipated inspection of some kind can all put you out of business before you even get started if you’re not careful.

  • Investing too much too soon can be dangerous―Starting your own business is exciting, and you want to make sure that you have adequate work space and the technology you need most to get the job done.  However, the goal is to be profitable.  That means keeping your overhead to an absolute minimum at first.

  • Focus on the big picture―As a home-based business owner, your operation is usually run by an army of one or maybe just a few.  That’s why it’s all too easy to get bogged down in product or service delivery such that you forget or don’t make time to tackle the larger and equally critical issues that will ensure you are successful.  Accounting and finance, marketing, systems management and team building are just some of the things that will also need your attention.

  • Productivity is key―Maximum productivity is the result of a number of factors.  Knowing how and where you work best is one of them.  If getting out of the office means you’ll get more done, then get out once and a while.  If a cluttered desk overwhelms you, then take time out to organize your office each evening so that you start each day with a fresh slate.  Have an office away from the family quarters, as well as a separate business phone line.  Remind family, neighbors and friends that your being home does not mean you are free to chat or that they can just drop by―you are working!  Also, find a way to keep Fido and the kids quiet when you’re conducting business.  If you think you can work efficiently with kids running around, think again.

  • Smart marketing is crucial―Marketing is perhaps the most important element in ensuring the success of a home-based business so it’s important to do it right for as little money as possible.  Take time to explore the more affordable yet effective strategies for marketing your business both on the Internet and via social marketing channels.  Develop a yearly plan with measureable goals and objectives.  Position yourself as an expert with the local media or at local events and attend or exhibit at trade shows when you can.  Engage in active networking, and never underestimate the power of referrals.  Collaborate with other business owners who are offering services or products that complement your own.

  • Make time management a top priority―One of the biggest pluses about working from home is that no one is telling you what to do and when to do it, but that can also work against you.  Home-based business owners will often cite distractions and feeling unmotivated or unproductive as a major source of stress in their lives.  Tricks to combat this problem include:  getting dressed to go to work in the morning; developing and adhering to a structured schedule and routine; adjusting your schedule to ensure you can work during your most productive hours; and taking mini breaks during the day to get some fresh air and clear your head.  And don't think twice about investing in a time management class if necessary.

  • Maintaining balance is the most important thing you’ll ever do―When you own your own business and work from home, it’s all too easy to mix business with pleasure.  Maintaining a balance between work and your personal life can seem all but impossible at times.  But you’ve got to try.  Keep your work space separate from your living quarters.  Set boundaries with family, and ask them to respect your work schedule.  On the flip side, when it’s time for family or other personal time, it’s critical that you be fully present.


Related Blog Posts
Productivity is key to the success of a small business owner. When not working as efficiently and effectively as possible, the business will suffer.
In his article on 
Are you thinking about starting your own business? This info from Ryan Robinson's article on his website, www.ryob.com,...

Do you want to own your own business? Have you put off dreams of owning your own business because of the cost? Stop putting off that dream, with these No Cost Home-Based Businesses!

Many people, from all ages groups, have told me that they always dreamed of owning their own business. Why did...

Have you dreamed of working online? Do you fantasize about working from anywhere in the world? Make your dreams a reality with these 25 Online Business Opportunities!

Happy holidays, everyone! As Thanksgiving ends and we gear up for the end of the year, excitement is in the air. People are...

Stress Management for the Home-Based Worker. Are you stressed? Are you struggling to de-stress while working from home? Check out stress management tips.

If you say you work from home, you get envious looks from the traditional 9 – 5ers. They assume stress management...
 
   
Entrepreneur's Source for Everything Business Opportunity and Franchise Related
..an excerpt from an article by Lauren Diethelm on Fundera. Halfaker...
Read More


Premium Sponsor