Home Business Solutions - 60 Minute Money

Written by Sharon Benson

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∑The tax savings are enormous. Many of your current expenses will become tax deductible. For example your telephone, a portion of your rent or mortgage, your entertainment bill and many others. A recent study by Readers Digest revealed that a self-employed home business owner need only earn half as much as a salaried worker in order to haverepparttar same net disposable income. ∑This position is ideal for a second income earner in a household.


I am 36 years old and I started this business because I was sick of travelling 3 hours a day on a train to work and back.

I decided to make the financial sacrifice for me to be at home with the children.

I have just followed the system and worked my own hours around my children - sometimes only putting in an hour and other times working evenings and Saturdays. My income is rising with our incredible tools and its just getting more and more exciting.

Keep The Cash Flowing

Written by ab@digital-e.biz

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=> Get an anchor client or product

You need an anchor client. This is a client who brings in a quarter of your earnings --- you may need three or four clients to achieve this. These are regular clients,repparttar bedrock on which your business is based. They pay your expenses, and keep you in business.

If youíre a writer or designer, you may also have an anchor product. This may be a book which brings in royalties every six months, or artwork you've sold under license for which you receive royalties.

It's worth working sixteen-hour days for a few months to create an anchor product. Once you've created it,repparttar 117286 anchor product works for you.

=> Follow up on slow/ no payers

You can't afford to let people owe you money indefinitely. This means that youíre providing interest-free loans. Worse, if someone owes you substantial money, you're an unsecured creditor. If they go down, they'll take you with them.

Chase up slow payers. Send a friendly reminder email or fax once a week --- every week, until they pay.

=> Don't pile up debt

Try not to go into debt. It's not worth it. It's better to work part-time for someone else, or to cut back on expenses, rather than go into debt. You donít know how longrepparttar 117287 slow period will last, and saddling yourself with debt is a dead-end solution.

It IS possible to run your own business, and be relaxed about it, knowing that you can surviverepparttar 117288 bad times. If you need to go and work part-time, donít look on this as failure --- it's a win. You're doing what you need to do, to keep your business viable untilrepparttar 117289 sun shines andrepparttar 117290 good times roll. You can do it.

*** Resource Box ***

To read more articles by Angela Booth, visitrepparttar 117291 Digital- e Web site--Information for writers and creatives. Ebooks, free ezines, Creatives Club. Love to write? Turn your talent into a business! http://www.digital-e.biz/

Writer, author and journalist Angela Booth has been writing successfully for print and online venues for 25 years. She also writes for business. On her Web site http://www.digital-e.biz/ she conducts workshops and courses for writers.

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