Any new endeavor should start with research. It is simple when you have the whole world on your key board. First of all, I suggest that you start your business with something you like and know a little bit about. Harder than it sounds, not at all, you will be surprised with how much you know about things once you get going. Do you want to sell things on line? There are several ways to do this. I suggest to concentrate on one or two things and become an expert on this as opposed to selling many things. You can start with an online site such as Ebay, where your items are posted and bids are taken over a period of time, and of course the item goes to the highest bidder. Pam started by going to yard sales and flea markets picking up old ashtrays. She signed up for Ebay and sold her wares at a enormous mark up. She would pick up an old ashtray for as little as a quarter and sell it for as much as the ebay auction would dictate. Many of them sold for upwards of $200 dollars. Smoking is becoming a thing of the past as well as ashtrays, but in their height of popularity through the 1920's to 1960's, some beautiful and ornate pieces were manufactured. Pam did this part time from home and made herself a sizable income from this second job. This type of selling is very easy . To do any type of selling on the net, even if it is through a public online auction such as Ebay, you really need to have your own web site to have a home base to post all your items. If someone bids on your item on an on line auction, they can be referred to your other items on your web site for sale. You already know this bidder is interested in the type of item you are selling, by referring them to your web site, you are bound to make a sale. Building your own web site is free. There are thousands of free sites that will provide a template for you to create your own web site in as little as a few minutes. Every web site needs to have a web address, these are also free from the sites providing you the templates. The problem here is the web addresses provided for free are fairly generic and unless you provide the address to a customer, they probably won't come about them in a search. For as little as 20 dollars a year, you can buy a web address that names what your business is. Again, very easy, just put purchase web address in your search bar and a thousand sites come up to do this for you. You would want a .com address or one of the other popular ones. If you are selling books, for example, you would want a catchy web address that denotes what you are selling, for example, (books by you . com) the web site will let you keep trying addresses until you come across one that is not taken. There are sites on the net that you can sell their goods on your own web site to your customers and you never have to handle the item at all. The customer buys from you, you in turn buy from the manufacturer and have it sent to your customer. You do no work in the shipping and handling, all you do is take the order. You can research all kinds of products that you would like to sell, pick one or two, create a bang-up website and sell. All you are doing is creating the advertising for this product. Patsy researched the web to find a quality product for a very low price. She found these necklaces that she had seen her teenage nieces wearing. They were $1.90 a piece plus $1.25 shipping and handling. When she found out from her sister that the necklaces cost 35 dollars at the mall, Patsy decided she would sell these on her web site for 15 dollars apiece plus, the $1.25 shipping and handling. The necklaces were called "mood necklaces". Every time someone purchased a necklace from her , she in turn would purchase it from the other company and have it sent to her customer. She never had to handle the necklace at all. It took a few months, but the orders started coming in. Patsy boosted her sales by advertising in a regional magazine. This paid off , for once the add came out , she was overwhelmed with sales. The most frequently asked question right about now is- How is the money handled from the sales? Again, today's technology has made this easy. You sigh up for an on-line credit card payment handling company for free, such as "Paypal". This is the most well known and used company. To sign up takes only a few minutes. How this works - A Paypal icon is put on your web site and when anyone wants to purchase your items, they click on this an pay for it with a credit card. In turn, the site is connected to your bank account. Very Easy, you now have a way to accept credit card payments. I opened a separate bank account for this, but I know of many people that have it go directly to their checking accounts. You can always accept checks, which are sent to your address and the product is not shipped until the check clears. Where there is a will, there is a way. You can market anything today. Phyllis prided herself on feeding her family of 4 for under $100 a week. This is pretty good in today's day and age. She wrote up a months worth of shopping lists and recipes on a daily schedule. She detailed when to serve left overs, etc.. She marketed it on her Web site as-"How to Feed A Family for Under $100 a week. She sold her pamphlet that consisted of 4 pages for $20. It cost her the price of a postage stamp to send. After three months, Phyllis had a lucrative part-time business going. She jokes that she doesn't have to feed a family of four for under 100 dollars anymore. It is important that your website has all the key words to optimize the amounts of hits you will get when someone is searching for a product like yours. This can be tricky, but I suggest doing it with friends and family, get a brain storming session together before launching your site. In the case of Patsy and her mood necklaces, she needed to use words that pertained to teens, jewelry, and mood necklaces. You need to think like the customer. If I am looking for an item, what would I put in a search engine to find it? The words you come up with are the words you want in your website to guarantee your customers find you. Remember when deciding on a product to sell you look to find a need. We are in a recession now, what will people be purchasing and what will people not be purchasing? You also need to do the research and know about the product you are going to sell. Become an expert in a product, offer it for less, advertise, and do this all for free from home. It is easy, but does take some time. If you do it right, you too can be having your coffee at home while the magic of the net works for you.
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The decision to export the products or services of your small business requires study and research of overseas markets. In order to be a successful exporter, you need to identify which international markets would be the most beneficial and the most profitable for your products or services. To make this determination, you need to acquire information on the demand for your products and services in different markets of the world, general economic conditions in those markets, conditions that affect your segment of the market, growth potential, economic trends and perspectives, competition, practices in the different markets, and the laws, rules, and regulations that govern imports in general and your products and services in particular. It could be that you have direct knowledge of some overseas market, from having visited or lived in another country. In this case you may already have contacts in that country, or know how to get the information you need directly from that country. Another way of obtaining direct information is through interviews, surveys, or other contacts with representatives, distributors, and potential buyers in your target country. This form of research has the advantage of being specifically adapted to your products and services and your target market. You can also do preliminary research by studying the resources that are available to the general public. This information can help you focus on certain potential markets for your products or services. You could start your research of potential target markets by studying resources on the Internet. The U.S. federal government, state governments, foreign governments, chambers of commerce, trade and export associations offer many resources that are either free or available at a low cost, are easily accessible, and serve to simplify and orient your research of overseas markets. In general, your preliminary research could include a study of general information on the regions of the world or countries that interest you, taking advantage of advisory services available through government and other programs, analyzing economic and commercial statistics, and keeping up-to-date on world news and events that affect international markets. General Information by Country There are various websites that have general information and background, and demographic, social, political, economic, and commercial statistics by country, including the following: The World Trade Organization (www.wto.org): For information on each member country, click on the link "151 members" on the home page, or use the A-Z List. The World Bank (www.worldbank.org) has an index by country, with news, publications and reports, data and statistics, development topics, projects and programs for each country. The Organization for Economic Cooperation and Development (www.oecd.org) has information on its member countries, including statistical profiles and information on a variety of topics related to economics and development, industries, markets, and commerce. The International Monetary Fund has various interesting reports, such as "World Economic Outlook" on its website at www.imf.org. On the website of the Interamerican Development Bank at www.iadb.org you can find information on Central and South American countries. The U.S. Central Intelligence Agency's "World Fact Book" at www.cia.gov/library/publications has profiles by country with information on geography, demography, government, economy, communications, and transportation. In the website of the U.S. State Department at www.state.gov/countries you can search for information by country in the A - Z Country List, under Countries. And the Library of Congress has Country Studies in its website at http://lcweb2.loc.gov/frd/cs/list.html Sources of Information from the U.S. Federal Government The U.S. federal government has a great deal of information on other countries, including demographic and sociological data, information on countries' political and legal institutions, tax systems, regulations on foreign commerce, and imports. There are sources of trade information by industry sector, by products, and by regions and countries, in addition to information on the various federal government programs designed to help exporters. U.S. Commerce Department The International Trade Administration of the Commerce Department has various types of news and reports, and links to other sources of information on overseas markets in its website at www.ita.doc.gov. In its website oriented toward exports at www.export.gov you can find information on export development and the federal programs that assist exporters, look for online reports by country and by industry, watch videos on export markets, find data on countries, and obtain details on customized Market Research Services. The U.S. Commercial Service is a division of the International Trade Administration that helps U.S. companies compete more effectively in the global market. This Service has trade specialists who can be consulted by e-mail or personally in the offices they maintain, along with the Export Assistance Centers, in the principal cities of the United States and in many countries around the world. The specialists are organized by industry and can offer information on overseas markets, the services provided by agents and distributors, perspectives relating to trade, and can advise exporters on the business opportunities that exist, barriers to trade, and the prospects for foreign trade. The best way to access the information and services is through the Export Assistance Centers. You can find more information on their website at www.export.gov/comm_svc/eac.html. The U.S. Commercial Service's website at www.buyusa.gov has information by country, assistance for exporters of U.S. products, Country Commercial Guides, and guides for doing business, by country or region. In the websites of the commercial sections of U.S. embassies and consulates overseas, there are links to this Commercial Service website, as mentioned below. U.S. Export-Import Bank The website of the U.S. Export-Import Bank at www.exim.gov has financial information related to exports. There is a small business page where you can fund an interactive guide, and a page for U.S. exporters, which provides information on countries' political and economic risk, and on the export credit insurance program that protects the exporter when the buyer overseas cannot pay due to political or commercial reasons. The Bank offers more flexibility in managing accounts receivable overseas, a greater capacity for offering competitive payment terms to buyers abroad, and provides support for prudently entering markets abroad that have a higher risk. U.S. Department of Agriculture The Foreign Agriculture Service of the U.S. Department of Agriculture can help with regard to exports of agricultural products. This Service has offices in U.S. embassies and consulates around the world and offers information on specific markets for products in different countries. It also has specialists by sector in the United States, to monitor foreign markets for specific products. You can visit the Service's website at www.fas.usda.gov and in the section "U.S. Exporter Assistance" you will find information on basic aspects of exporting, commercial partners and contacts, market research, export programs, financing, shipping requirements and documentation, prices, quotes and negotiations. National Trade Data Bank The National Trade Data Bank (NTDB) is a Web subscription service to an extensive library of documents on the promotion of exports and international economic information. You can do searches by markets, barriers in terms of duties and others, importers, logistics, and products. There are market research reports, Country Commercial Guides, contacts abroad, trade statistics, trade policies and practices, the legal aspects of exporting, and various publications. This service, at www.stat-usa.gov, has a subscription cost in order to access the data base. Other Sources of Information Other sources of information on overseas markets and exports can be found in state economic development offices, the commercial attachés of foreign embassies, and trade and export associations. State Economic Development Offices The majority of the state economic and commercial development offices have specialists in international trade who can provide you with information and advice on exporting. Many of the states have offices in overseas markets, and many of the port authorities have extended their services to offer export training programs and overseas market research assistance. You can find the websites of these offices by doing a search on the Internet using the key words "Economic Development Office" and the name of the state. Once in the site you can look for information regarding their resources, programs and related advice under a category such as "export" or "international trade" or by doing a search of the site with those key words. Commercial Attachés of Foreign Embassies The Trade section of the websites of U.S. embassies and consulates in different countries may have news, reports, and links related to commerce between the U.S. and the respective country. For a directory of the U.S. embassies, consulates, and diplomatic missions around the world, you can see the U.S. Department of State website at http://usembassy.state.gov/. You can also find information on trade with a country in the website of that country's embassy or consulate in the U.S. There are directories you can find with an Internet search, such as www.embassyworld.com. These sites have links to the website of the U.S. Commercial Service, under the Department of Commerce, at www.buyusa.gov. Among the information available you can find the following: Industry Sector Analyses: These reports evaluate some commercial or industrial market within a country, and present information on the size of the market, demand, competitive analysis, criteria for entering the market, as well as contacts in the industry and marketing opportunities. Country Commercial Guides: These guides are prepared annually by the U.S. embassies in countries abroad. They serve as a planning tool that analyzes the economic and business climate in the country, emphasizing trade statistics and marketing and development in the country. Guide for doing business in the country: This provides very useful orientation regarding various practical aspects, including regulations, political and legal institutions, tax and duty systems, banking, and others. Exporters Associations In the website of the American Association of Exporters and Importers (AAEI) at www.aaei.org, there is a useful list of frequent questions that explain the practical aspects of exporting. The Association offers advocacy, communication, and training programs for exporters, and the website has links to various resources where you can find additional information. In its website at www.sbea.org the Small Business Exporters Association provides its members with access to data bases of contacts in foreign commerce, exporting finance programs, and freight discounts. It also has links to other resources with information on trends in global commerce from the World Trade Organization, international trade barriers, country information, and statistics on the exports of small and mid-sized companies in the U.S. Trade Associations There are several categories of international trade associations, including chambers of commerce with bilateral interests, associations that focus on international logistics, those that support international commerce, and others that support exporters and professional associations. The objective of the Federation of International Trade Associations in the U.S. is to encourage commerce, strengthening the role of local, regional, and national associations. In its website at www.fita.org you can find more information on its activities and members. Finding Assistance There are opportunities to obtain assistance through governmental programs and others specifically oriented toward small exporters in the U.S. U.S. Export Assistance Centers The website of the U.S. Small Business Administration (www.sba.gov) has a section on International Trade. In this section there is an index of the U.S. Export Assistance Centers. These centers, located in several of the principal cities in the U.S., provide various international trade services to small companies in their localities. Through these centers you can obtain personalized advice from professionals from the Small Business Administration, the U.S. Commerce Department, the Export-Import Bank, and from other public and private organizations. When possible, these centers are located in convenient locations, along with partners from the public and private sectors, and they concentrate on helping companies that are ready to export in all aspects of carrying out exports and trade financing. When yours is a start-up company, these centers can make recommendations regarding programs on how to start exporting. They have specialists who offer a variety of programs for entering the market, including industry and country profiles, assistance in finding distributors abroad, identifying the duties that apply and the regulatory requirements, assistance with financing, and other inquiries. District Export Councils The District Export Councils (www.us-dec.com) constitute another useful resource, sponsored by the International Trade Administration. Affiliated with the U.S. Export Assistance Centers, these Councils are located around the U.S. and offer the advice of around 1,800 executives with experience in international commerce, who come from banks, manufacturing companies, legal firms, trade associations, state and local agencies, consulting companies, and educational institutions. They work voluntarily to sponsor and participate in various activities for the promotion of trade, and provide specialized advice to small and mid-sized companies interested in exporting. Comparison shopping on your business expenses-looking around at different vendors and sources who might offer a better value-should be done each and every time you plan to make a purchase for your business, no matter how big or small the item is. Business expenses don't include just automobiles, gas, entertaining clients, utilities, and the usual things that come to mind with the phrase "business expense." Business expenses can also include your office supplies, equipment, and your travel expenses. There are also many more expenses that your business incurs every year for which comparison shopping might save you lots of money. To find vendors for comparison shopping, you can start with your local yellow pages and "let your fingers do your shopping" with a few phone calls to inquire about pricing on a specific item. Discount warehouses, such as Costco, Sam's, or BestBuy are often good sources if you have one nearby. Online, you can use a good search engine such as Google to enter the name of the item for which you're shopping. Your biggest problem will be to sort through all the results you get! You will eventually find a few reliable vendors to count on for good prices. Bookmark the following sites for comparison shopping online. Products for which you should comparison shop: 1. Computer paper, card stock, ink cartridges Many retailers with a physical store also have online sites that you can utilize. These companies will often have "specials" for their online customers to keep them coming back to their sites for repeat business. Using online comparison shopping, you can frequently find more advantages than with their store shopping. Online sites can-and most do-offer free shipping and handling, discounts, and much more for their online customers. Ink refill kits for your printer can now be purchased at most office supply stores. The costs range from $19.95 to $24.99. Using these kits, you can refill an ink cartridge approximately three times versus purchasing new ink cartridges from $23.95 or higher, depending on your printer's cartridge type. 2. Upgrades on your computer software and hardware When you purchase a computer or printer and register each of these products through the registration process, you will be asked if you would like to be notified of new products and offers. This is one of the best ways to get the best deals for your software and hardware upgrades from the companies from which you have purchased them. They will often offer better discounts to new and repeat customers than to new or unknown customers who walk into a retail store. The software companies online will often have special offers on their online products, especially new releases and upgrades. 3. Office furniture (your chairs, desks, filing cabinets, book cases, or shelving units) Next to your electronic equipment, your office furniture is the next biggest purchase you will make when setting up your office. There are many ways to find office furniture without breaking the bank: Furniture Consignment Stores-There are more of these stores doing business now than in the past years. The variety of furniture that they carry is wide-ranged, since they purchase from companies that have liquidated their outdated pieces or have gone out of business. With these types of buys, the consignment stores can purchase a bulk lot for a low price and then turn around and sell it for a lower price than you would have paid in another store. Outlet Stores-Outlet stores (usually found at outlet malls in metropolitan areas) work on the same basis as consignment stores with the sales of their products except that they usually only carry one brand. While the prices will be a little more than a consignment shop, you will still find great deals at these stores. Sales Events-Office furniture and supply stores will offer various sales throughout the year when they are expecting new shipments of products in for the new season. Clearance areas in these stores will also provide extra savings on furniture as stores and manufacturers are making room for the new lines of furniture. Electronic equipment (computers, PDA's, cell phones, printers, phones (land line), Internet service providers)-Several times during the year, many electronics companies will allow retailers to offer extra savings on select products. For instance, computer manufacturers will set up special deals with retailers to offer rebates for various amounts when you purchase a particular computer piece or a computer bundle. The "bundles" can consist of the monitor, tower, and printer at a significant savings over buying each item alone. 4. Phone service Each individual phone service company has offers that can save you money each month. Call to ask what products and services they are offering, and don't be afraid to ask for a better price of a different combination of features than those they tell you about. These service providers are hungry for business and often willing to make a deal for your business. 5. Office supplies (paper, pencils, pens, paper clips, staplers, staples, organizers (desktop size), files, disk and CD holders) Office supplies are the easiest to find the best savings on throughout the year. When there are sales on these supplies that you can not pass up, stock as much as your pocket book will allow. General office supplies will keep for quite some time, thus, saving you even a bigger bundle over time. Be sure to get catalogs for Quill and Reliable or check their Websites regularly. These are commonly used office supply discounters. 6. Banking When choosing a bank account for your small business, choose a bank that offers services and options that fit your situation. You can easily save $100 or more over the life of your account if you choose wisely: Free Checking with no monthly account fees and check writing fees.
Free Checks-Initially at the time of opening your checking account or, preferably, for the life of your account. Interest on your checking account-This service is usually only offered on accounts with minimum balances, so think carefully about your own situation. If you usually have less than $500 or $1,000 per month in your account, you are probably better off with free checking than with interest. Fees charged for falling below the minimum balance can quickly wipe out the advantage of any interest that might be paid. Overdraft Protection-This option should be looked at closely, as some banks will charge a fee for you to this set up and some banks will allow you to link a savings account or line of credit to your checking account. Make sure you understand what you're getting, but with overdraft fees often $25 or more, it may still pay to have some kind of overdraft protection. Replacement Checks-Once your checks start to get low and you need to reorder, look at the offers. You can find such companies in the Sunday Newspaper Sections. These companies have introductory offers when ordering your checks for the first time. Using these companies, you can order from two to five boxes for the cost of one box from your bank. These are just a few ways to save on your business expenses from day to day, month to month and year to year. During College, I was blessed with the opportunity to help write business plans for small businesses looking to secure loans. It was without question my most challenging college experience. It was not a challenge because of the work but because, I had to juggle a full course load with working on this small business initiative. It was during this time I got and appreciation for what it took to run a small business. I took that learning to heart and went into banking to understand how to get a loan. I wanted to focus less on the plan and more on the action. I thought that if I understood how bankers think that regardless of the situation, I could get a loan. I was right; you can have a great deal basically "finance itself". A touch sell is a deal that makes no sense at all. That is why banks will lend on the purchase of a home, but not on the purchase of a mutual fund. Even while I had the business plan writing experience, I failed to write my own business plan. I'd set up many small business, but figured I'd plan to fly by the seat of my pants. Doing that works sometimes, but failing to plan is really planning to fail. When you drive a car, you must know where you are going in order to get there. You must abide by the traffic laws and know the roads. You must be aware of the check points and be sure not to break the law. You must have enough gas to get going. You must maintain all fluids in the engine to ensure the vehicle doesn't break down. A big key is you must know how you are getting back if you plan to get back to your point of origin. All the same items are needed when starting your business too. Without those key elements, you are planning to fail: 6.) Know where you are going: With each business plan you must map out exactly what your business concept is. Your business concept is really a boiled down point of your mission and vision. You mission and vision is what you are doing in business and why are doing it. This is a crucial point of your business because it where you strive to get to as a company. Without a mission and vision, your small business is simply wandering aimlessly like a teenager cruising burning gas on a Saturday night. You might come across success, but you are just as likely to be bored find nothing and end up right back at home.
5.) Abide by the traffic laws: Business law for a small business is the difference between success and failure. You must either brush up on your industry business law personally or higher a lawyer to protect your company. One of my favorite lines from Scarface is never underestimate the other mans greed. When you have something desirable, people want it. That goes for business, women, money and anything that is worth having. Anything worth having is worth fighting to keep. The business laws are the ways you fight to keep what is rightfully yours. It helps you protect you corporate assets, and operate business ethically. The more you run the Red lights in business, the more you are likely to get caught. Even small parking tickets can be an issue if you do not address them. I had a friend that has a company that he'd operated as a sole proprietor. He ran this business until someday someone mentioned to him that he should open and LLC to protect his assets. He always wanted to but thought the business law was too complicated. He was finally convinced and did it just in the nick of time. Someone came after his company for an issue and initially attempted to go after him personally. As and LLC he protected his small business and is still in business today. He failed to plan in his business plan initially but his quick adaptability worked to his business' advantage. 4.) Be Aware of the Check Points and don't break the law: There are so many business law requirements for a small business that you need a lawyer and accountant. Truly, the lawyer focuses on your legal form of ownership and business assess protection. The accountant makes certain that you stop at every major stop light and give government their dues. Some small business operating as LLC or corporations, must file quarterly while others once a year. It is best to utilize and accountant to ensure that your taxes are properly done. Beyond that, the business will allow you to be taxed at a better tax rate than individually. It is somewhat like the HOV lanes on the highway. Hybrid cars can go in the HOV lanes even with one passenger. Your accountant can help you navigate through business plan planning when it's best to be a hybrid kind of small business. You should be certain to include your accountant in consideration of your business plan. 3.) Have the Gas to get going: All cars need gas or some kind of fuel. All businesses need money or some kind of income. Without the gas a great car can not move. Without money, a great business idea will just sit on there and become nothing. You can work around not having gas or money. However, it's a challenge to say the least. I've been there done that and bought the t-shirt. It is always better to plan within your business plan to have money. The more you find sources and uses for funds in your business the better prepared you are to succeed. 2.) Maintain all fluids in the engine to ensure the vehicle doesn't break down: This part is crucial. To say the least gas is important with a car. Yet you must keep the oil changed regularly. You must change your transmission fluid. You must make certain that your coolant levels are good. Windshield wiper fluid is important. There are so many items associated with your car that you must check and retest that you are certainly going to need a mechanic at some point. You will need a specialist to keep you up and running. Some businesses are simply run by one person. There is nothing wrong with that. If you are a mechanic then it makes sense for you to work on your own car. Yet, the power of business is other people. In small business, the more you can leverage your idea through other people the better business you will have. Perhaps even your small business with become a big business. The fluids and cogs of the engine are all a form of leverage. You must make sure the people in your small business are happy to reach the ultimate goal addressed in the business plans mission and vision. Without checking your fluids, you will be on the side of the road broken down and wondering why. 1.) Know how you are getting back: You might want to keep going and just travel without ever coming home. However, it is usually a situation where you want a need to know how to get back. Whenever you go out as a small business, you always want to come home. Some businesses consider home base to be a monthly review of the business plan just to make sure that they are on course. Some consider reaching a goal and then being able to give back to their community home base. It really varies for each business. Yet and still everyone has a home base. Home base to me in my business plan is a point of reflection. A point where I look back over what has transpired and I give thanks to God for all his blessing. I strive to give back and show my son what it is to give back to others. And as a whole I strive to keep it moving so that he will have a legacy in the future. When I think of all those things I'm home. And once home, I'm ready to venture out again and make it happen. I wish you good luck with whatever business you get into and don't forget to maintain that business plan. Everyday people quit their jobs because someone has sold them a dream that they can make thousands from the comfort of their home. This is true to a certain extent. To be successful you have to be a professional. If you are going to go home and work like you are on vacation it will not work! I have seen people go home, start a business and fail because they are doing everything but working at home. Working at home is still a work and that is what you should be doing whether at home or at a job in the world. You simply must do what is required of you. It is very easy to just lay back and relax when you do not have a boss. Be your own boss! Acts like your previous boss and hold yourself to high professional standards and in time you will be successful. The most eye-catching part of a home-based business is that people realize they now have the freedom to work on their time and not someone else's. Please keep in mind it is still work, it is still a job and therefore treat it like a business! Keep it professional, set your hours and stick with them. Remember you want this to work for the fact that you will save money by not having to commute to go to work, buy your food every day every lunch hours, and by not having to buy office attire. The thing everyone needs to realize is that by becoming an entrepreneur, your biggest resource is time. Everything takes time! Rome was not built in a day and your business will not be either. However, once the time has been put in and it starts to bring in money, your time spent working will diminish greatly and your result will start to magnify. So just remember that every great thing takes time to grow!
Keep in mind that people with a hard-working attitude and a commitment of their time and effort. A home-based work can be a huge profitable way of income for anyone who desires it. The key is to understand that this is a job and it needs to be taken seriously. It is called a business for a reason. It is still a work! Always remember that to be successful you have to be a professional. Do this and your home-based business will grow tremendously. If you are looking to start an online business there are many legal requirements that you must take care of before you start offering a service or selling something. If you don't take care of these items in the beginning they might come back to haunt you. One of the first things that you need to do it register to get a tax id number. This is free and you can do this online. The website you would go to is irs.gov. It usually takes a couple of days to process and then they will send you the number by e-mail or mail. A tax id number is used in place of your social security number. If you plan to sell something online you usually need a tax id number. Distributors will usually not sell to someone that does not have one. Another item you need to get if you are going to be selling an item online is a seller's permit or a resale card. This allows you to buy the items that you are going to sell without paying tax. You will then sell the item to your customer and charge them tax and pay that to your state. When starting an online business you have to decide how you want to set up your business. You have many choices on how you want to set your business up. You can just file a DBA (doing business as), which only costs you about $40, you can file as a sole proprietor, or you could incorporate. You should look up the differences and the benefits from each one. If you set up as a DBA or a sole proprietor you will be liable if any suit is filed against you and the customer can go after your personal assets. Before deciding to go forward with any of the above options you should consult a tax accountant or a tax attorney. Incorporating can be a little costly and a little difficult if you do not know much about it. The last thing you will need is a business license. You will want to visit your states website (www.boe.(your state).gov ) to see how you can obtain a business license. Different states require different licenses and permits so review any requirements that your state or county might have. Once you have completed all of the legal requirements you can go forward with your Internet business with peace of mind knowing you have completed everything that you are legally required to. There are fewer thrills greater than running your own business, whether it is a brick-and-mortar business or an online business. Still, the sad fact is that the majority of small businesses fail within two years of starting. While no one can guarantee your success in your online business, following these few important steps can put you on the fast track toward building a profitable and enjoyable online business:
If you are looking to start up or set up your own business then congratulations! It is one of the biggest decisions you will make in your life, and you will possibly have more freedom, more choice and more say with regards to your earnings, your lifestyle and your working day/times/hours. Here are a few tips which should help you when and while you are starting a new business
I hope you have found this article both helpful and useful. Good luck with starting up/setting up your business. Remember to find a niche and then fill it.
Good luck I wish you every success. |