Thursday, November 6, 2008

A Home Based Business Start-Up Checklist

Starting a home business can be a great way for you to earn money without having to worry if your resume will fit your company’s mission and vision, or if you will get along with your co-workers, or if your shoes and clothes will fit in with everyone else’s outfit at the office. You do not have to worry about gas or your commute or if you will miss the train, and you don’t have to worry about leaving your child at home while you start eking out a living. A home-based business will be hard to set up, however, so you will need a home based business start up check-list to get you started.

First, you need capital. To make money, you need money, whether to hire people to help you, or to invest in marketing. There are many ways that you can start up a home-based business: you can start on the Internet, in which case you need to spend a bit more on electric bill and outfitting your computer if you need to have better software on it; you can also start with arts and crafts at home, in which case you will need to have your own arts and crafts and invest on materials first. Whether you need a few cents or a thousand dollars, you need to see if you have enough money for a start up. Remember: you may also need some fees in order to file business permits if necessary.

So how do you keep track of your capital? You will need to do some basic accounting and budgeting, but if you have no experience in allotting your capital, you will need to talk to accounting and budgeting experts, or better yet, to people who have already set up their own home businesses.

In order to keep track of your capital, you will need to know exactly what you need. You need to set aside money if you are going to hire and pay people, buy materials or software, use your car or vehicle to transport things or deliver finished products, register your business and pay government fees for your documents, market your products and services, and even set up shop in your house and convert a part of it into your home office.

You will also need to be strict with yourself. Although you are working in a home business and having your home as your office, you do not have the license to lounge around and not do anything, especially when you are only starting. You will need to have a strict schedule: allot a certain time of your day to marketing, another part of the day to evaluating your marketing techniques, another part of the day to evaluating your products and services, and another part of the day to seeing how well you spent your money and how much you earned. Keep to this schedule and you will form a habit out of self-discipline.

These are only a few things that you need to remember when you are starting a home business. Although you are working from your home, many of the rules of the corporate arena still apply to you. If you are able to exercise discipline not only in work, but in budgeting and pacing yourself as well, you will not have a hard time earning from your home-based business.




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