Friday, November 30, 2007

Starting A Home Business???

Are you looking at starting a home business? Great, that is awesome. Starting a home business is an excellent way to achieve financial freedom. Starting a home business has created wealth for many individuals. In this article I will go over what I believe to be the keys to getting your home business running smooth and efficiently. Starting a home business can seem like an overwhelming task but it is not as long as you have a solid plan in place.


First you need to know of course what you are selling. Not only do you need to know your product inside and out, you must also believe in your product 100%. If you do not have faith in your product you will not succeed in selling that given product. It is that simple.


Next you must think like a business owner not an employee or self employee. Employees and self-employees are not business owners. Why? Self employees like to do everything themselves. They handle everything in their home business from making calls, preparing taxes,generating leads,and pretty much anything else which comes with a home business. Normally self employees are worn out at the end of their days. Take a look at doctors, lawyers, and Mom and Pop shops. The business depends entirely on the doctor or lawyer being there to fulfill their job. If a doctor has a sick day he loses money. He must be there for the business to run smoothly.

So when starting your home business find professionals who are experts at what they do. It is that simple, period. Do not do your taxes on your own.Hire a CPA or tax lawyer to help you with your taxes. Hire a marketing firm to market your product professionally. Yes you can do all of these things yourself but two things come into play. First no one is an expert at everything, so it only makes sense to get the best help available. Next even if you were an expert at all things pertaining to running a home business, do you really want to spend all day working the day to day operations? First off you would wear yourself out. Next what about if you were to get sick or took a vacation, your business would shut down. There is a quote professional investors like to use when deciding whether or not to invest in a business. That quote is " Professional Investors never invest in a business where the business goes home at night."


All that quote means is if you are all things to your business, then you are not running your business properly because if something happens to you, your business collapses. Take a look at McDonalds, what makes McDonalds so successful? Two things, one great real estate locations and two a business system so simple you would have to be a complete moron not to be able to follow it. McDonalds does not rely on one person to make the burgers, cook the fries, take the customer's orders, market the business, clean the restrooms, and you should be getting my point. That would be considered crazy if McDonald's only had one person to handle all of the daily tasks associated with running a McDonalds. And the same goes for your home business, it is crazy to try and run your home business by yourself. Starting a home business is great but be sure to run your home business like an actual business.
 
 
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3 comments:

Erin W. said...

Neat post. I'll keep this in mind because I plan on running my own business soon. I know it'll be tough, so I can use all the help and advice I can get. More recently I've been thinking about buying a business instead of starting one from scratch. Maybe a franchise? Home based? I’m not sure. Do you have any suggestions? Advice? Thanks.

Brianna Smith said...

Erin - I can tell you this now... Running a business will be tough. I'm sure there will be days you'll want to give up, but if you stick through it and persevere, becoming an entrepreneur will be worth it. That being said, there are a lot of resources on-line if you're looking to buy a business instead of starting one from scratch. I know there's this site called BizTrader.com, and it's like this on-line global marketplace where you can buy or sell a business. You can also use it to find a lender, broker, etc. Local small business groups are also good because you can network, and they can update you on the area you plan on doing business. Good luck!

efields24 said...

Great Advice.

Bri