Starting Your Own Home Business
While getting advice when you start a home business, it can be
easy to get confused. Chances are you don't know anyone else
that has started a home business, and you may not know where to
go for help.
First go online. The Internet is a great resource for people who
have a home business. You can find articles and newsletters with
information and advice. There are also many message boards,
forums and blogs where you can read, ask questions, and get
advice from other SOHO (home business) owners. It is easy enough
to use your favorite search engines to find lists of any of the
above sources. Sample a few and continue to use the ones that
strike your fancy.
Go to your local library. Speak with the librarian. Libraries
contain all sorts of home business books and resources. Your
librarian should be more than happy to help you do research, and
point you in the direction of the most popular resources.
Find a mentor. They are usually volunteers who have had great
business success, and will be glad to help you start up a new
business. They often have years of experience and can be really
helpful. Most cities have organizations for business owners, and
members can answer your questions. Try to avoid the "big bucks"
coaches who like to flash the hype online. Don't even think
about paying one until you've seen some references.
The SBA... The Small Business Administration provides a
multitude of material about starting your own SOHO business.
Visit http://www.sba.gov ... The Federal Trade Commission's web
site has many resources too. Become familiar with the basic
legalities at http://www.ftc.gov/ftc/businessinfo/consumer.htm
...
Depending on where you live, you might find local government
agencies that will give you free help and advice. Check your
local yellow page listings for a small business center in your
area. Also, do an online search for any specific topic you may
need more information about. Don't overlook local colleges and
universities. In particular, check their schedules for free or
inexpensive public service classes, workshops, and seminars.
Your bank should have been the first place you went if you were
thinking of starting a business. While they're no replacement
for accountants, most banks will have a business advisor on
staff to help you open a business account. They can be
especially helpful with the technical and financial elements of
starting your business. Before signing up for a merchant account
anywhere else, check with your bank's business services
department. They are often much cheaper than independent
companies. Furthermore, establishing and cultivating a
relationship with a local commercial bank is one of the smartest
things you can do for your business!
Lawyers know all about starting a new business, of course. It
can be well worth paying for an hour of a lawyer's time and just
asking them every question you can think of. Look around, you
may even be able to get a free consultation.
Accountants also know all about business, and can be a less
expensive alternative to lawyers. If you want your business to
be profitable, you should take the advice your accountant gives
you. If you don't have one, you should get one. It is very
important to at least get your business' books set up by an
accountant with knowledge of your particular field.
Intuit's QuickBooks Pro and Microsoft's Small Business
Accounting are excellent tools to assist you with managing a
SOHO business. They can produce an accurate record of just about
everything you'll need to know at tax time. They also give you a
very precise report about how your business is performing at any
given time and, more importantly, provide you with a snapshot of
how your business is performing relative to other time periods.
The included tutorials are also excellent ways to enhance your
knowledge of both accounting and business.
Depending on your individual circumstances, you may need to
look for investors. There are people who back businesses in
order to make their own living. If you think your business would
be attractive to investors, then you can try going to an
investor with your idea. If they like it, they will often have a
quick, smooth process set up to have your company up and running
as soon as possible. If they don't, they can explain why they
think you might be assuming too much risk in your new venture.
Visit your local universities. They are full of business
students. They spend all their time learning about business, and
many of them would just love to help get a real one off the
ground. Business students can be a great source of free help and
advice. They also will have access to research that may prove
invaluable in making complex decisions.
Remember, whatever industry you're thinking of entering probably
has some kind of trade association, society or union. You should
join one as soon as you can, and take advantage of all the
resources that they offer to people getting started in their
industry. We recommend iCOP, the International Council of Online
Professionals for anyone who operates an internet business.
Local Better Business Bureau offices are also excellent business
associations
There is an endless supply of help and advice out there. Just
don't be afraid to ask! But do weigh the advantages and
disadvantages of any given source.
This article may be reprinted online or off as long as the
resource box listed below is included.
by Walter Boyd, CEO of Computer Expertise Ltd., an incorporated
online home business serving entrepreneurs since July 1, 1995...
http://ComputerExpertiseLtd.biz ...