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Right starting of a home business (Part II)
START A BUSINESS WITH START UP MONEYMost home businesses do not involve extensive startup costs, soyou most probably will be able to "bootstrap" your fledglingoperation using your own money, but if you can't, use...Credit cards. Be clever in this, try to limit charges to itemsthat will pay for themselves, generating income as quickly aspossible.Personal loans. If you or a spouse have a good credit record,and an existing job, banks will usually give you a personalHome equity loans. If you own your home, see if you canrefinance it, and this will give you a startup capital.Microloans. If you need an amount smaller than $ 25,000 the USSmall Business Administration and a variety of privatefoundations offer microloan programs, that are not based on yourpersonal assets but rather on good character and provenmanagement ability. THE IRSIf you meet the basic criteria established by the IRS to start abusiness like a home office, you can deduct the cost ofoperating and maintaining that part of your residence used forbusiness. So you can claim your deductions, whether you live andwork in a house, apartment or condominiumIn order to be able to start a business and claim yourdeductions, the portion of your home you wish to claim as a taxwrite-off, must be used exclusively and regularly for business.And that portion of your home where you start a business, mustbe either your principal place of business or a location whereyou meet with customers or clients in the normal course ofbusiness activities.If you qualify to start a business with a home-office deduction,there are many expenses that you can deductMortgage payments and capital improvements, pro rated for theportion of your residence used as an office. The cost ofoperating your car Dues you pay to professional and tradeassociations.Note: You must be sure the IRS considers you a self-employedindividual or independent contractor rather than an employee.This rules can be tricky, so it's wise to consult youraccountant for clarification before you start a business. START A BUSINESS AVOIDING UNNECESSARY RISKSGet Needed Insurance Your homeowner's or apartment dweller'sinsurance may not protect you against the followingcontingencies:Business property: You must consider purchasing businessproperty insurance to...
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... start a business and cover your computerand other office equipment and furnishings.Liability for accidents or injuries to customers or businessvisitors. Consider to start a business purchasing a rider toyour policy to cover anyone who comes to your home on business.Damaged or stolen business property. Even your car will not becovered if you use it for business, if you don't indicate thaton your policy and start a business paying the additional amountrequired.Malpractice or errors or omissions This kind of insurance s willcover you against claims that your product or service harmedsomeone or caused a business loss.Disability insurance can cover you against loss of income shouldyou become disabled.Partnership insurance will protect you against suits arisingfrom the actions of any partners you have when you start abusiness. START A BUSINESS ASSURING YOUR PAYMENTSYou will avoid many problems with customers and clients, if youstart a business with a good contract.You can obtain pro forma contracts on computer softwareA written contract is always better that a verbal oneIf you start a business with a contract, that will make yourcustomers take you more seriouslyWhen you start a business with a contract, spell out specificssuch as...What product or service will you provide When will you provide itHow you will do it What it will cost When and how, customers orclients are obliged to pay youConsult an attorney or colleagues about the kind of contract youshould use, to start a business. You can as your professional ortrade association for information START A BUSINESS PROMOTING ITUtilize on line promotion resources Utilize off line promotionresources Utilize word of mouth use face-to-face contact toestablish relationships that can generate leads. Talk withpeople about what you do and listening carefully to find out howyou might serve them. Get referrals from satisfied customers. DON'T START A BUSINESS LIKE A WORKAHOLICDon't be fanatic! Take a break every few hours, and that willincrease your productivity and your creativity.When you start a business, make time for your private life Starta business with a firm schedule, but establish and respect afixed stopping point every dayStart a business making sure clients know your work hours.Because you live t...
...ere, your are not supposed to receive them atany time. You must learn to say "I will look at it tomorrow" or"We can talk about it on Monday"...Hey, you are your own boss, working from your own home! So starta business with plans about taking some time for doing somethingyou enjoy, such as gardening, playing with a pet, or sitting inthe sun.Remember that relaxing on a regular basis, has therapeuticeffects START A BUSINESS USING TECHNOLOGYUse as much as the following as you can:For standardized documents, your can use the templates that comewith your word processorThe spell checker, grammar checker, and electronic thesaurusfeatures that come with the softwareSpecial preprinted stationaryA computerLetter -opening machinesE-mail and InternetProgrammable telephonesBubble jet or laser printersElectric staplersLetter folders and dictation equipment.And accept payments with credit cards using ClickBank. To learnhow to do it, click over the following link:http://newsletter.easy-home-business.com/hts/clickbank.html THERE'S NO NEED FOR ISOLATIONDon't Become Isolated and Lonely: Keep in Contact To avoidfeeling isolated, when you start a business working from home,you should take the initiative and become involved in the worldaround you. Here are seven ways to start a business keeping incontact with peers and colleagues:You can join professional, technical or trade associations, andcommunity organizations.Read specialty newsletters, journals and magazines to keep youinformed about what's happening in your field.Go to courses, workshops and relevant seminarsTry to maintain contacts with peers with regular breakfast,lunch or dinner meetingsJoin forums or networking group that meets on a regular basis.Don't neglect the importance of personal and professionalfriendships.If you have more to lose through the lack of knowledge than thecost of an expertise, it's time to hire one.If the time you spend on repetitive matters exceeds its benefit,hire an employee, so you can take on an extra project.One of the best things about self-employment is that you cantailor your work to fit your own values, priorities andlifestyle.Start a business finding a match between the life you would liketo live and what the world needs and will pay forWritten by Dr. Roberto A. Bonomi
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