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Basics of Starting a Home Based Business
by Paul Jesse
The are many advantages to starting your own home based
business. You can become independent or just earn some extra
supplemental income. You home busines will create new tax deductions
which you can take advantage of thereby reducing your taxable income.
Your own business can also create a sense of purpose and accomplishment
for having created something of your own.
It really is fairly easy to get started and there are an endless number of resources out there to guide you through the process.
1.
Decide what type of business interests you. This is the most difficult
part of the process as you do not want to jump into anything too
quickly. Consider your interests and what things you are good at. You
may decide on a service that you can provide which people will pay for.
This might be lawn moving, photography, or house cleaning. Or you might
be interested in a retail sales business. The Internet now makes it
possible for just about anyone to start an online retail store and the
marketplace is global. By using the internet you can compete on a level
playing field with huge companies. Are you a collector? Maybe you would
enjoy selling certain collectible items.
2. Develop a business
plan. This does not have to be complicated. Simply write down your plan
for making your business work. Determine what you will sell, how you
will market your business, who your potential customers will be, etc.
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3.
Decide on the name of your business. If you are going to name your
business something other than your own legal name then you wil need to
file a fictitious busines name statement with the local Recorders
Office in your county.
4. Check with your count and state for
local requirements for home based business. If you will be selling
merchandise then you will need to contact the department of revenue for
your state to obtain a Retail Merchant Certificate or Sales Tax ID
number. This will allow you to colect sales tax on merchandise sold.
5. Set up a separate bank account for the business. This will help you keep
track of business income and expenses.
6.
Set Aside an place in your home where you will work on your business.
If you want to be successful you must treat your business like a
business.
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7. Work, Work , Work.
Starting a home
business can be an exciting venture. It can also be a lot of work.
Don't believe anyone who tells you that it is easy. When you are
researching ideas for your home based business you will come across a
lot of opportunities for sale. Some of these will contain excellent
information while others will be a rip off. Consider these offers
carefully and remember, if it sounds to good to be true ? it probabaly
is.
To your success!
Copyright © Paul Jesse
All rights reserved
About the Author
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Paul
Jesse is a retired government employee now living in southern Arizona
and the author of several articles on working from home. For articles
and resources on starting a home based internet business, visit his
site at http://www.sheamarketing.com
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Disclaimer
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