Monday, July 13, 2009

10 Steps to Forming a Successful Home Based Business

Important to know that anyone who wants to start a Home Based Business must agree to WORK. Home Based Business is not a "sit around and watch the money pour in" job! To be successful and do this, you must be a self starter who is serious, organized and creative. So before you can make a thoughtful decision about starting a Home Based Business, you must consider these three questions:

You can set goals for yourself and reach them?

Are you self motivated?

Are you really dedicated to having a successful business?

If you answered yes to all three questions above, then here are 10 steps you need to get started.

1. Do your research: Find the various ways available to earn money from home.

2. Create a list of things you need to research or do before jumping to any 8 of the next step. This will save you a lot of wasted time and money. Depending on your business what you need to get it up and running. Accessories, Supplies, licenses, Office Space, Computer Programs, Website, etc.

3. Choose your Business Name. You can do this with your name and adding a dba (Doing Business As) or Trade Name - you'll need to keep your personal information and business separated.

4. Depending on the type of business you start, you can get a Mail Box with your local Post Office or one of several companies that rent a Mail Boxes. This way you have a mailing address will not show all of your home.

5. Depending on the type of business you start, you can open a separate checking account, so you can have with money budgeted to spend separate from your personal funds. Do it under your name and social security because it is cheaper than opening a business account with your bank. Most Banks charge for Business account, but a lot of free checking with Bank for personal accounts. Again you will need it to keep your personal and business separated.

6. Apply for a Federal ID Number under your new business. Do not use your Social Security Number and Identity Thief risks, if you are opening an account online or simply by opening various accounts that your business must operate. This will make keeping track of your business and personal life easier to tax time.

7. Does your state require you to have a State Business License? What are the license costs you?

8. If you live within a City or County to live, your City or County requires you to have a Business License? What are the license costs you?

9. You need to advertise or promote your new business. How this? Do you need to get certain types of accounts opened?

10. Bookkeeping you need to track your income and expenses. Some very basic and simple way to do this. It depends on the type of business you start, so if you are unsure what you'll need some calls Bookkeeping or Accounting firm in your area and ask. Make sure you have figured this out before you actually start making money. If this step can be forgotten about until you are faced with a large amount of debt the IRS.

Keep Yourself Motivated: Remember to change the goal, do not yield if you do not meet immediately. This is not about the destination, it is the journey and experience that count. Motivation bringing success. If you keep up your efforts, motivation and passion you will succeed. Keep your dreams alive with written goals and even pictures of what you want.

Nancy Wilhelmi invite you to visit his link Hottest Home Based Business's. Legitimate Work-at-home jobs do exist and you can see some of the best right here:


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