==== ====Leverage $300 into $11k Plus Over and Over!http://x-tremeprofits.com==== ====The advantages of starting a home based business outweigh the time and small expense involvedin setting up a viable business. For the long term, the overhead costs for starting a business inyour home are very low. The government provides several tax incentives for individuals who havebusinesses set up in their home. There are some strict rules and regulations that must be met toqualify for the home-based business deduction but once confirmed, the tax refunds for having ahome based business are very lucrative.In addition to the tax advantages, home based business owners have no daily transportationexpenses. home based business owner has unlimited flexibility in balancing work and familycommitments. Using technology for communication and business processes makes working fromhome a sensible and practical solution to the high price of gasoline, commuting time and costs ofbuying new clothes.Home-based businesses play a crucial role in the free enterprise system. These entrepreneurscontribute to the overall economy as well as the financial viability of their families. The ultimatedream of a home based business is to provide financial independence for the owner, their familyand the community at large..Some of the most widely recognized software retailers and cosmetic companies had theirbeginning in a garage. Companies like Apple Computer, Hewlett Packard, Dell, Microsoft, Lotusand even the cosmetic giant, Mary Kay, were initially started as home based business enterprises.But, like any other type of business, a home-based business requires initial preparation, start-upcapital, registration and ongoing marketing. Home based business are traditionally set up as asole proprietorship. The home based business owner has to be an expert in all phases of thebusiness. At some time in the business start up process, the home based business owner mustknow the details of the operational, strategic, legal, financial and marketing concerns.The following checklist covers the essential points to help you stay focused so that you can set upyour own home-based business.Plan to SucceedEvery business needs to create a comprehensive business plan. The business plan will focus yourefforts from selecting a product to sell all the way to the actual marketing of the product. This planwill cause ideas to generate and perhaps new methods of distribution for your business.The basic business plan contains a, executive summary, mission statement, marketing plans andprofits that you want to achieve. The business plan is the blueprint that will guide you to your
desired results. It is of utmost importance to prepare a draft of your business plan. The businessplan will keep you on focused on your goals. If you intend to seek any type of funding for yourbusiness, it is imperative that a business plan is part of the start-up process.Selecting the Business StructureThe selection of your long term goals for your business will determine which structure you chosefor your business. The choices include:oSole ProprietorshipoPartnershipoCorporationThere are several different types of Corporation structures that you can choose. There are specifictax implications for each of the choices listed. Deciding on the business structure for your homebased business enterprise is perhaps one of the most critical decisions you will make.You can search online to find out the specific requirements for each of the business structureslisted. Your decision will have far-reaching consequences and will depend on important factors likecapital, ability to do business in specific locations and the type of your business you are starting.To register or not to register?It is important for all legitimate business to register their business name. For tax and otherproprietary purposes you should secure all necessary business licenses. Registering yourbusiness protects the name of your business. It is also important to become aware of thecompliance requirements in your area. Local zoning regulations should be acquired to assure youthat the business does not contravene local zoning laws.Insurance for Your Business?It is just smart to purchase insurance for your new business if you need to acquire financing.Business insurance is a prerequisite of lending institutions in case you plan to borrow money foryour startup operations For online businesses that do not sell physical products, having insuranceis a choice.Purchase EquipmentsRemember to keep all of your receipts when you purchase any office equipments or supplies.Your new computer, fax, printer, cell phone stationary supplies, and business cards are necessarybusiness tools and are all tax deductible for your new business.Time ManagementHome-based entrepreneurs also require better time management skills than a corporateemployee. Home based business owners must learn how to leverage their time and money. It iseasy to get off track when your office is located in your garage, a den or the basement. Decidehow much time you will devote to your business each day and stick to your time schedule.
Automate as much of your business as possible so that you are always available to yourcustomers. Schedule each phase of your business day and set up systems that will automaticallyreply to inquiries. Automation of your menial tasks is a critical element in your overall timemanagement strategy.Web SiteBusinesses are longer restricted to brick and mortar locations. There are no limits to the number ofcustomers that home based business owners can acquire. The home based business owner canno longer limit themselves to doing business in their local community. The Internet allows globalbusiness interaction from anywhere in the world. Having one website may not be sufficient toaccomplish the level of success that a home based business owner requires.Home-based businesses compensate for their lack of a physical presence with a virtual presencein the World Wide Web. This presence may take the shape of several websites on severaldomains.Organization & AutomationTo conduct business in a professional and efficient way, it is important to organize everyday tasksinto simple automated processes. Your home office should include everything you need tocomplete a transaction. It is easier to stay on top of daily tasks when the work-space is wellorganized. It is so much easier to complete the daily grunt work when these menial tasks areautomated.Inventory and SuppliesFor home based business owners who sell physical products, it is important that these productsare kept in a specified location. If you use your garage to keep stock you need to know the exactdimensions of your garage that is designated for this purpose. The best way to handle stock is tohave the company send and maintain the bulk of your inventory. This eliminates a time lag for yourcustomers. If you sell digital products, this process is handled automatically.Open the Door and Let Business BeginYou are now ready to open the virtual doors of your home based business to the globalcommunity. You have completed all the steps to insure that your business will be successful. Youhave a product, a website that allows you into the global marketplace.Gina Sands is graduate of the University of Texas in Arlington. she is the mother of miracle twindaughter and "Nana" to an amazing skateboarder that we nicknamed Tre He is third generation.Gina is owner of Dream Businesses and writes articles on creating and maintaining your ownunique dream biz online. She writes articles about Making Money Online. Gina is dedicated tofinding the most efficient/inexpensive resources to help other home based business entrepreneurssave money as well as make money on the Internet.
Software for Home-Based Businesses!Article Source:http://EzineArticles.com/?expert=Gina_Sands==== ====Leverage $300 into $11k Plus Over and Over!http://x-tremeprofits.com==== ====