How to Start A Profitable Home-Based Business

Written by Jay Harris

Continued from page 1

Detail your start-up investment needs Have an advertising plan Show production costs Outline your business procedures Note your sales program List how your time will be allocated.

Too often, enthusiastic and ambitious entrepreneurs jump in on an extra income project and suddenly find thatrepparttar costs are beyond their abilities andrepparttar 148157 time requirements are more than they can meet. It pays to lay it all out on paper before you get involved, andrepparttar 148158 clearer you can "see" everything before you start,repparttar 148159 better your chances for success.

The Secret is...

Now, assuming you've got your market targeted, you know who your customers are going to be and how you're going to reach them with your product or service. And you have all your costs as well as time requirements itemized. The next step is to set your plan in motion and start making money.

Here isrepparttar 148160 most important "secret" of all relating to starting and building a profitable home-based business, so read very carefully. Regardless of what kind of business you start, you must haverepparttar 148161 capital andrepparttar 148162 available time to sustain your business throughrepparttar 148163 first six months of operation. Specifically, you must not count on receiving or spending any money coming in from your business on yourself or for your bills during those first six months. Allrepparttar 148164 income from your business during those first six months should be reinvested in your business in order for it to grow and reach your planned first year potential.

Once you've passed that first six months milestone, you can set up a small monthly salary for yourself, and begin enjoyingrepparttar 148165 fruits of your labor. Butrepparttar 148166 first six months or operation for any business are critical, so do not plan to use any ofrepparttar 148167 money your business generates for yourself during that period.

The Enterprise Called YOU

If you've got your business plan properly organized, and have implementedrepparttar 148168 plan, you should atrepparttar 148169 end of your first year be able to begin thinking about hiring other people to alleviate some of your work-load. Remember this: Starting a successful business is not a means towards either a job for yourself or a way to keep busy. It should be regarded asrepparttar 148170 beginning of an enterprise that will grow and prosper, with you asrepparttar 148171 top dog. Eventually, you'll have other people doing allrepparttar 148172 work for you, even runningrepparttar 148173 entire operation, while you vacation inrepparttar 148174 Bahamas or Hawaii and collect or receive regular income from your initial efforts.

Article by Jay Harris of IMI Concepts. Visit his website

Turn Any Hobby Into A Part-time Business

Written by Jay Harris

Continued from page 1

Also, start educating yourself by reading and researching other home-based businesses. Before I opened up my business I read national publications like "Small Business Opportunities," "Entrepreneur," "Home Office Computing," and "Spare Time Magazine." Although there were some full page ads in there filled with hype (claiming to make me $1 million dollars with a sheet of paper) -repparttar articles are excellent. Don't spend more than $3 for information inrepparttar 148156 beginning of your business because if a company is legitimate you should be able to call them and discussrepparttar 148157 opportunity overrepparttar 148158 phone with them. Businesses that claim to put you in business overnight should never demand a large amount of money from you. Onrepparttar 148159 contrary - legitimate businesses have nothing to hide and will not charge you more than a few dollars in postage to learnrepparttar 148160 "whole" story behind their claims. Instead, use these publications, as well as books fromrepparttar 148161 library on starting a business, to further your knowledge ofrepparttar 148162 world.

Another good move on your part is to invest a few hours by attending a meeting that is sponsored by SCORE fromrepparttar 148163 Small Business Administration in your area. It's free - andrepparttar 148164 valuable information you obtain from actual people who have been in business before is something that will be extremely valuable inrepparttar 148165 months ahead. Just callrepparttar 148166 SBA to find out more information.

Yes - it's that easy! Of course, this is onlyrepparttar 148167 beginning. As with any hobby, it will take time (probably many months) to realize a profit, but think of it this way: Most people that have a hobby know they have to spend money to take part in their hobby. It only makes sense to invest money in advertising your hobby to others so you can eventually make some of that money back in sales for your own business!

Article by Jay Harris of IMI Concepts. Visit his website

    <Back to Page 1 © 2005
Terms of Use