What is conscientious planning and how does it guarantee home
business success? Without planning your chance of success is
decreased tremendously.
It is interesting to note just how careful the average American
wedding gets planned (and how much money is spent) yet how
little, if any, preparation may be employed when contemplating
the opening of a home business. Granted, the dream of the
perfect wedding starts – at least for little girls – a lot
earlier than the notion of running a business might, but by and
large the fact that year after year endless scores of
individuals are content with jumping head first into a venture
which might, or might not, provide sufficient funds for the
family to live on, is at times surprising and quite often
downright alarming.
You becoming a small business entrepreneur does not have to be
a roll of the dice or blind gamble; instead, conscientious
planning guarantees home business success! Of course, the first
step to any successful business venture is a clear understanding
of the nature of the business and the talents and skill you
bring to the table. For example, if you love your feline
companion and would like to do something involving cats, you
will need to specify exactly what it is that you have in mind.
The mistake many small home business entrepreneurs make is
spreading out too quickly rather than appealing to a niche and
then gradually expanding their goods and services. Therefore,
consider if you wish to engage in a business that focuses
initially on cat training or cat grooming; your decision should
be based on your dominant skill set. Over time, you will be able
to add in the other service as well.
Obviously if you do not have an interest in cats, even though
you heard there was money to be made in being a cat specialist,
you should not invest in a business that is associated with
cats. If you love dogs, but know you couldn't stand working with
anyone else's dog, then maybe you should keep exploring your
options. What do you do that you find gives you the most
pleasure while you are doing it? Is it helping others,
woodworking, traveling, working with a certain group of people
or even writing?
Once you have narrowed the focus of the activity that is to
become your new business, you will need to explore the
legalities involved. Will you need licenses and permits? What
are the ordinances with respect to business signage? Is your
home zoned for this kind of activity or will you have to rent a
store front? Research the answers to these questions well in
advance to throwing open your doors to ensure that you have all
your ducks, or cats, in a row. This will protect you from having
to shut down your business a week after the grand opening
because the city administrator sent you a "cease and desist
order" due to zoning violations. This is also a good time to
investigate articles of incorporation to protect your personal
and family assets should there be a legal action involving your
business.
Last but not least are the financial questions that require
answering. How will you finance your business and especially the
start up? Do you have funds saved up for this momentous occasion
or are you planning on some financial investments that might be
questionable? Consult a financial advisor for unbiased advice
and also speak with a tax accountant to ensure that you will not
put your personal finances and perhaps even your home and credit
rating in jeopardy. This is also the time to confer with
professional organizations that will be able to put you in touch
with other entrepreneurs who may be willing to give you some
information on getting started as a professional courtesy.
If you choose Network Marketing you not only receive a ton of
tax benefits but you also have more control on your business
expenditures. You decide how much advertising or marketing you
can afford at start up compared to later once your sales start
coming in. You will still have guidelines you must follow, so
invest in your education on how to start a home based business
first and then start your journey on finding the right one for
your interests.
