First-time entrepreneurs often find it easier to start a business from home and grow it into a full-time venture complete with an outside facility or office.

Starting a business from home is a good way to test the entrepreneurial waters while saving lots of money on overhead such as rent, utilities, insurance and more.

Home work is booming. More and more people are starting businesses every week from their homes. These range from small part-time micro-business ventures to franchises.

Are you ready to join the boom?
Estimates vary but about 40 million people now work from home worldwide. This statistic includes telecommuters–those workers who enjoy the flexibility and liberty of working for someone else, but working from their home office. As these home-based workers experience the joys and pleasure of working from home, they might opt for starting their own home-based business.

Start on a part-time basis and develop this business into a full-time homemade success.

Here we’d like to outline some of the basics of running a business from your kitchen table, garage, attic or spare bedroom. Use these basic tips to help you start your own business.

In searching for the right business to start make sure you choose something that you love to do. You will be spending a lot of time making the business work, so you must enjoy what you do. There are probably business ideas that will occur to you that would do well in your community, but if you don’t love that particular type of business, skip that idea and keep thinking. Find something you love to do and then figure out how to get paid to do it.

In researching the type of business you’d love to start, make a series of lists of what you’re interested in and see what you’re good at. Are there are common denominators? Do you like sports, pets, fixing things? What types of businesses could you start that relate to your interests. An individual who loves parties and music might want to consider starting a mobile DJ service.

Take a trip down to the corporate affairs commission and register your name. You will receive a Business number and can then use that Business number to open a corporate checking account.

Most of your customers might never see your home office, so impress them with your professionalism and attention to detail by selecting a good looking stationery system consisting of high-grade letterhead and business cards. Get a separate phone line so no one answers the phone and just says, “Hello,” which could turn off potential customers. Get a laptop, internet connection, blackberry phone, all-in-one printer, scanner, copier, generator/power inverter (for countries with poor local electricity) and you are in business!.

Examine your insurance policy to see if you need to beef up your liability insurance or add on any other type of coverage. There are many add-ons to consider including: business interruption insurance, business property insurance, disability insurance, non-owned auto insurance, product liability and much more.

Print up a flier, get involved in local clubs and other networking opportunities, send out a press kit to local newspapers, prepare a direct mail piece, try and place yourself as a guest –an expert–on local TV or cable, investigate advertising , become active in local civic groups and associations, offer to give a speech at a local club or gathering, send out discount coupons, send out holiday greeting cards, teach a class at adult education, attend trade shows as a guest or exhibitor. All of these methods will help you generate business and customers.

Even though you might not plan to do your own taxes–and we do endorse the notion that you visit a professional accountant for tax assistance–it’s a good idea to get a grip on basic accounting principles and bookkeeping skills. Look into a local adult education course, browse through bookstores and find a “how to” manual or enroll in a local community college, but get a little accounting help under your belt.

For further help or information please kindly contact us.
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