Where Do I Start?
One of the most frequent questions that I receive is "Where do I start?" The steps that you will need to take start with finding general information and progressing to more specific information. Take your time. You are making the decision of a lifetime.1. Start reading
If you have never had any business or management experience, then head for the library and start reading. There are dozens of good books about starting a home business and your local library should have several on the shelves. Keep reading until you can't find anything new in the books.
2. Analyze your income needs
It can take a long time to generate the income to replace a full time job. Remember to figure in all the benefits that your job provides, such as insurance, bonuses, etc. You'll have to pay for everything yourself, once you are self employed.
If you can, eliminate as much personal debt as you can before you start your business. Pay off your credit card, your car, and anything else that has an outstanding balance. You'll be able to quit your day job much sooner if you don't have a lot of payments to make on things.
3. Analyze your passions
This isn't as easy as you might think. Some folks are able to pin-point the things they love, but the rest of us have to work at it.
For a little help, go to: Choosing a Home Business.
Don't rush this step. You want to really focus on your passions so that you choose the right business for you.
4. Decide on your business
You might be able to narrow your focus to one business or you might have a short list of several that you are interested in. This is OK. After step 5, you'll be able to cut your list down.
You will find that something that interests you can be developed into different businesses. For example, if your passion is music you can perform for pay, teach music to children or adults, write articles and books about the music industry, sell musical instruments or related merchandise, do PR work for musical groups, and more.
5. Ask a bunch of questions
If you can, find someone in the business that you want to start and talk with them. There isn't any better way to learn the specifics about a particular business than talking with someone who is in the trenches.
Most people are more than willing to talk about their businesses but, perhaps, you should offer to buy lunch. It's a good way to "pay" for the information you will receive.
6. Set some deadlines
You've come this far so don't drop the ball now. Give yourself some reasonable time, but set some definite dates for completing the next few steps. You can be generous in the amount of time you allow, but don't let a deadline go by without action
7. Know the law
Start checking with your local government and zoning commission for the laws that will affect your business. There are still communities that will not allow any business to be run from a residential area. Find out now, before it's too late.
Don't forget to look at things other than local laws. There are laws that govern product labeling, product safety, interstate commerce, and many, many more areas. The postal regulations might affect your business as well. Your conversation with the business owner in step 5 should help with this.
8. Write your business plan
Don't skip this step! A common misconception is that a business plan is only necessary if you need to seek financing. It's unlikely you'll receive a loan of any kind without a comprehensive plan, but the benefits far exceed this need. Your business plan will be invaluable to you from the first day of business and beyond.
For some resources, go to: The Business Plan
9. Set up to do business
In order to work at home, you need to create a space that is just for your business. Try not to use the kitchen table. You'll soon tire of clearing it off every time you want to eat.
Get your business cards, filing cabinets, space to work set up and functional. Outfit your office with the all mundane things, too. You don't want to waste time looking for a paper clip.
You may even want a separate phone line with an answering machine. You don't want your kids to answer your business calls.
10. Get the doors open
Now, after all the work you have done, it's time to get started. Don't freeze. The planning you have done and the questions you have asked will prepare you for this step. You'll wonder why it took you so long to get to this point!
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