Free Session8 Start-Up BasicsSmall Business @Home SuccessBy Don Osborne : ProfitPuzzle.com

#1. Objectives#2. Management#3. Finance#4. Personnel#5. Marketing#6. Operations#7. Production#8. Resources

#1Clarify Objectives Constantly

#1. OBJECTIVESpersonalA.Write down your personal reasons for successful small home based business ownership.

#1. OBJECTIVESbusinessB.Clearly state your business goals regardless of your personal talents or skills.

#1. OBJECTIVESlifestyleC.Schedule lifestyle area activities: individual, family, spiritual, career, financial.

#1. OBJECTIVEStimeD.Plan your use of time in 30 minute increments with an emphasis on mandatory items.

#2Enhance Management Skills

#2. MANAGEMENTplanA.Develop a step-by-step action plan for each of your personal and business goals.

#2. MANAGEMENTreportReport the results of your action plan activities on a regularly scheduled basis.B.

#2. MANAGEMENTevaluateC.Evaluate your results against the targets you set in your action plans.

#2. MANAGEMENTdevelopD.Develop alternative steps for areas of your action plans which are under performing.

#3Improve Finance Opportunities

#3. FINANCEentityA.Select a business entity which reflects your personal goals and facilitates funding.

#3. FINANCEbudgetB.Create a budget and compare your actual numbers to your forecast numbers.

#3. FINANCEstatementsC.Setup, maintain and regularly review an accurate set of statements.

#3. FINANCEcashflowD.Project cashflow using a time frame which allows you to prepare for shortfalls.

#4Review Personnel Needs

#4. PERSONNELstructureA.your business structure by identifying the jobs required to meet your objectives.

#4. PERSONNELhireB.Only hire people who capabilities and interests match your job description.

#4. PERSONNELcompensateC.Compensate people based on the revenue or savings they generate in their positions.

#4. PERSONNELmotivateD.Motivate people by understanding why they are working and what they want from their jobs.

#5Increase Marketing Effectiveness

#5. MARKETINGproductsA.Identify why people or companies buy your products and services and how they use them.

#5. MARKETINGcustomersB.Understand who your customers are and how they make buying decisions.

#5. MARKETINGcompetitionC.Develop a strategy for differentiating your offerings for your competition.

#5. MARKETINGsalesD.Use sales and promotional methods you can consistently and persistently execute with results.

#6Streamline Operations Regularly

#6. OPERATIONSadministrationA.Adopt an efficient administration system for keeping your business records.

#6. OPERATIONSfacilitiesB.Make sure every square foot of your business facilities are working for you.

#6. OPERATIONSequipmentC.Invest in equipment and technology only after determining its ROI (Return On Investment).

#6. OPERATIONSrequirementsD.Identify and meet the expense of all business requirements in a timely manner.

#7Reduce Production Costs

#7. PRODUCTIONcomponentsA.Breakdown each of your products / services into their basic components.

#7. PRODUCTIONprocessB.Outline the steps and costs of your production process for each of your products / services.

#7. PRODUCTIONdistributionC.List the steps and costs for the distribution activities for each of your products / services.

#7. PRODUCTIONpricingD.Add up and add on margins to all of your steps and costs to determine your profitable pricing.

#8Leverage Resources Always

#8. RESOURCESinternalA.Make use of the internal people and information resources you're already paying for.

#8. RESOURCESexternalB.Don't be afraid to pay for the appropriate external experience required to grow your business.

#8. RESOURCESindustryC.full advantage of all the industry information offered by organization you've paid to join.

#8. RESOURCESuniversalD.Universal business knowledge is all around you - ask questions and listen.

The Profit Puzzle8 Start-Up Basics for Small Business @Home SuccessBy Don Osborne : ProfitPuzzle.com