When you are looking for a home business opportunity, it is important to make sure that you are aware of all that you will be required to bring to the equation. This can help save you a lot of confusion and money by avoiding opportunities that require too much from you to get started. Here is a checklist of thing that you should consider before selecting a home business opportunity.
1. Do you need to get a license to run the business? Many states require that businesses get a license before they are allowed to open. This includes home businesses in many locations. Check with your local government agencies to see what you will need to have in place to start your own home business.
2. Do you need a zoning permit? If you have a home business opportunity that requires doing actual business with the public, you are going to need to make sure that you will not be in violation of any zoning laws. Most cities have very strict residential zoning requirements and it is not hard to violate them. Make sure that the type of business you want to start will be acceptable to run at your current location.
3. How much equipment will you need to buy? You’ll need to know exactly how much money you’re going to have to spend to get your business operational. While some home business opportunities require just a computer, others may need a special printer, extra software, additional gadgets or even heavy equipment. This can add up in a short period of time. Make sure that you are aware of all the expenses that you will incur before you start up.
4. Do you have enough space in your home to devote to your business? Running an informational company is one thing, but if you are going to be stocking products in your home, you’re going to need enough space. For tax purposes, you’re also going to have to have a room that is completely devoted to your home business. This means no kid’s toys, or anything from your normal family life can intrude on this room. If you don’t have this kind of space you may need to add on to your home to accommodate your business.
5. Will you need to purchase any insurance? If you are doing business with the public at your home, you will need to get liability insurance. This will help protect you if anyone falls on your property or injures themselves in anyway. If you will be storing products, you will need to have them insured in case there is a flood or they get damaged in any way.
Lastly, you may want to consider business protection insurance that will help you in the event of any copyright infringement claims or other common complaints. Don’t forget your own health insurance, or any insurance that you may need to provide for employees. This can add up quickly and increase your overall start up costs.
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Social media is one of the most important things you can do for your business. Social media is basically networking online and it’s crucial if you own a business online. It’s the best way to find potential customers online.
There are many sites you can use when it comes to social media, but the best are Twitter, Facebook, and Linkedin. Each has it’s own advantages to help you grow your business.
One of my favorites is Twitter. Twitter is like instant messaging. You can add as many followers as you want and people will follow you as well. The thing you need to understand about the followers is you can see almost all the posts that your followers post, but unless they are following you, they won’t know if you’ve posted a message to them. Now there is one way you can see those posts and that’s if they click on the button that says replies. This area of Twitter is for posts that people have made to you. That’s it; nothing else is visible in this section.
One disadvantage to Twitter is that you are limited to 140 characters. Characters are different than words. A character is a punctuation mark, a space, and each letter you type. This can cause a problem when you have a lot to say. So, my solution is TwitWall. TwitWall is a blog that is directly linked to your Twitter page. Each and every Twitter user has a TwitWall.
The great thing about TwitWall is you can include formatted text, you can upload videos from YouTube and other sources, and you can include pictures. Because it’s a blog you have unlimited text space, so you can say what you want and not worry about abbreviating or making multiple posts that might get separated.
We have all been told that a blog is a must in business. It’s not a bad idea to have one, but some people don’t know how to set one up, build traffic, and make it look and work the way they want. Some just have no desire at all to have a blog, but they want the ability to use Twitter in a way that doesn’t limit the number of characters they use. This is where TwitWall comes in. There is no set up required. You login to TwitWall.com using your Twitter username and password and you are ready to start posting.
TwitWall looks just like your Twitter page in that your background follows you. What don’t come across are your posts made to others and your posts made on Twitter. So if you used Twitter or another program like Twitdeck to make a post it wouldn’t be visible on your TwitWall. The only thing you see is the posts you make from that page.
There are so many reasons why a person would want to use TwitWall rather than their regular Twitter page. One huge advantage I see is that you are not limited on the number of characters you use so you don’t have to worry about abbreviating words and you don’t have to worry about someone missing part of your post and questioning what you are talking about.
Check out TwitWall today. I think you will be thankful you did when you realize the potential that comes with it and what you were missing before.
Corrie Petersen runs a successful Virtual Assistant business. She enjoys helping others reach their goals and dreams. Check out her website at www.virtualfreedom4you.com.
A unique and fun Wahm career is to start a manicure service. If you have a license in cosmetology, or are thinking of getting one, you aren’t limited to working in a salon. Many women are now looking for a more relaxed manicure experience, and you can provide them that by starting a manicure service in your home or a traveling manicure service. You can go into business for yourself with little start up costs and great rewards.
To start with you’ll need to get your license to manicure nails, if you don’t have one already. You’ll need to post your license in your place of business and also have extra copies just in case the original gets lost or damaged. If you decide to offer a travel manicure service, you’ll need a copy of your license to put in your bag. You’ll also want to have a system for keeping track of money set up before you begin. You can use a computer program like QuickBooks to track your money flow, or do it by hand in a traditional ledger. Appointment books and receipts are also a necessity. Finally, getting a business telephone number is a necessary step in setting yourself up as a professional in your field.
The other necessary step is gathering all of your supplies and finding a convenient way to carry them from your home to the client’s home. You’ll need to bring your polish colors, manicure tools, nail polish remover, appointment book, receipt book and necessary supplies (including extra towels and cotton balls).
Traveling to a client’s home is not for everyone, but there are many benefits to offering a travel manicure service. From your customer’s perspective it is much more enjoyable to have you come to them. One of the biggest drawbacks of getting a manicure out of the home for your client is that she has to drive home and avoid damaging the fresh polish. When you come to your client’s home, she won’t have to worry about ruining her new manicure.
Although you won’t technically be a Wahm when you offer a traveling manicure service, you will have many benefits. If you offer manicures in client homes, you’ll reduce the number of people coming in and out of your home each day. In addition, you’ll be able to use your mileage as a tax write-off (make sure to keep accurate records of how much you drive for your business). Working at home can be isolating, so getting out of the house to do manicures can be a break in your day.
Advertising your business can happen in many different ways. You can leave your business cards at local Laundromats, convenience stores, gift shops and daycare centers. You can also put flyers up at bulletin boards around town. Network with people that you already have contact with, like the parents at your children’s school, your husband’s co-workers and your former co-workers. Tell people that you are starting a business and get excited about it. Share with everyone you can think of. Before you know it, you’ll have a list of consistent clients who you manicure each month, or week.
Starting a manicure service can be a great way to work at home and do something that you love. Instead of paying high fees for a chair at a salon, start your own business and have the flexibility and income that you deserve.
This current financial crisis has affected corporations in every sector of our economy. The inability to obtain credit has decreased the amount of inventory that is vital for conducting business on a day-to-day basis. If you are a business owner, whether outside or based within your home, here are five ways to protect your cash flow.
1. Depending upon whether or not you require payment up-front or offer a line of credit to your customers, you may wish to call on them to begin collecting payment. If customers have been lax in making payments and have outstanding balances, give them a call and offer then a reduction on their balance in order to facilitate quick payment.
2. The very foundation of any good business practice is to ensure that invoices are sent out in a timely manner. Ensure that you bill customers within a few days of the fulfillment and/or completion of the order or service.
3. If you are a home-based business where you are performing a service for a client such as article content writing for websites, ask for payment up front. If the client is not satisfied, you can always refund payment. Conversely, if you are selling a product online or offline, you may want to offer a discount to clients who can pay with a certain number of days.
4. Prioritize all payments due. For example, if you have a work-at-home business wherein you are sub-contracting work, ask these individuals if they can wait a week for payment. However, if you do have people on your payroll, pay them first. Vendors usually require payment within 60-90 days, and you may be able to negotiate payment terms with the telephone and electric company and/or submit partial payment where appropriate.
5. If things get really tight, ask family members for assistance. Also, in some cases your most loyal customers may be able to give pre-payment for future services and or products.
If you have been diligent in your work ethic and practices, there are still alternatives available to you even though you may experience a bump in the road during this economic downturn. Check out the Small Business Administration website wherein you may be able to obtain financial assistance such as an SBA loan.
More importantly, don’t give up. You can ride out the storm!
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