FINANCIAL

Starting your own home based business can have many financial rewards and put you in control of your own financial future. However, there are a few things to consider before beginning your undertaking.

First, will you start your home based business on a part time basis and keep your day job until you are making enough profit to enable you to quit and devote your full attention to your business? Or would you rather quit your day job now so you can devote your full time and energy to building your business? There are pros and cons to both approaches and only you can decide which one you will feel most confortable with in long run. If you have enough savings to meet your living expenses for a good six months to a year then it might be worthwhile to quit your day job to focus on growing your business. You'll see results a lot faster and that will give you momentum you need to keep going. Starting a home based business requires a lot of up front work and if you are doing it on a part time basis it is easier to get discouraged when results don't materialize as quickly as you had originally planned. On other hand, having a full time income will enable you to spend more on your business without having to worry about meeting monthly living expenses.

You will also have to set a start up budget for your business as well. Any home based business will require some start up costs, even if they are only minimal at first. For example, if you are going to be doing business on internet, you will need to register your domain name and pay a monthly fee to have your website hosted. Domain names can be registered for as little as $7.00 and monthly hosting can be obtained for a minimum of about $25.00. You'll also need to determine how much money you are going to devote to advertising your new venture. While there are some very good ways to advertise your business for free, eventually you are going to have to lay out some money to advertise if you hope to see kind of profits that will make your online business worthwhile. While we are not talking about massive amounts of money here, a few hundred dollars would be a reasonable sum to get some quality advertising to promote your business and allow you to start making some sales which will generate even more cashflow to reinvest in your business.

PERSONAL

Most people who are interested in starting their own home based business cite personal reasons as one of their primary motivations. It seems that more and more people are getting fed up with corporate America these days and it's no secret that average workday continues to get longer and longer, lunch hours become nonexistent, and financial security that once came with retirement is no longer a reality for most people. Not only does having your own home based business put you in charge of your own financial future, it also allows you to start spending real quality time with your family. Most people are so exhausted at end of a typical workday that just getting through dinner without nodding off is a real challenge. With a home based business, you control hours you work and you automatically add at least one or two additional hours to your day that you would otherwise spend commuting to and from work.

By Fayola Peters

One of main reasons people start businesses is to make money. For some it’s a blessing to make money doing something they love. I’m not saying that you have to love house cleaning in order to have a successful house cleaning business; however it would be a good idea if you didn’t hate it.

How much money you make depends on how big you want your business to be. It could be a one person operation where you set up at home and service areas close to home, or you could set up a commercial office and hire people to work for you.

Here are 7 simple steps to get you started on your own house cleaning business.

1) Decide exactly what kind of house cleaning services you will offer. Here you decided what cleaning you will do, like making beds, vacuuming, mopping and waxing floors, dusting and so on. Also note what you won’t do, e.g. laundry. You can also decide to specialize, e.g. by cleaning carpets only, or cleaning suspended ceilings only.

2) Pricing your housecleaning service. To have an idea of how to charge for your housecleaning service, use your competition. Check your telephone directory and classified ads section in your local newspapers for cleaning businesses, call them up (pretend to be a prospective client) and find out exactly what cleaning services they offer and how much they charge. With this information gathered decide best price to charge for your cleaning service.

3) Workout startup costs. For this you need to consider, tools, material, transport, advertising, insurance etc. Write down a list all tools and material you need, like cleaners, sponges, mops, carpet cleaning equipment etc. Next find out cost of each item on list and write it down next to item.