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Further
Reading ...
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Desperate Architects: Want to Know a Secret About Architectural Drafting? - Lucky Balaraman
Copyright 2005 The Magnum Group It’s about twenty after 9, on a Tuesday morning, I’m an architect and I’m thinking that life is bed of roses. But it wasn’t like that a year ago… This time last year, the revenues of my practice were shrinking...
Make Your Mark – How to Attract Clients and Grow Your Business - Caterina Rando
Marketing: how you attract clients and promote your business is an important part of your recipe for success and profitability. Developing a strategic marketing plan will ensure your success and allow you to not spend time and money in the wrong...
The Top Five Reasons For Posting In Online Guestbooks - Keith P Stieneke
An online guest book is a log for people to sign and sometimes leave brief messages when they visit someone’s website. Possibly you’ve posted to, or “signed” one of these guest books at one time when you’ve visited someone’s website. Maybe...
Powerful Considerations when Starting Your Own Business - Gobala Krishnan
What does it take to start your own business? To many, the thought of starting your own business may be too daunting that your give up before you even start. Let's analyze what a typical start-up needs: Start-up Capital There is no...
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Home Business, What's So Great About It?
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Written By:
Stephen Warren
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Home Business allows you more time to do what you want.
Home Business gives you more freedom i.e. no more 9-5 job.
Because a Home Business is well.... at Home, you don't have to travel far to get there.
Just come down stairs in your pajamas and get to work right there and then. It's so convenient.
What is this article about?
Basically this is about starting a Home Business, what's involved, what options there are, how much it can cost etc.
I have already described the advantages of having a Home Based Business, so now we will discuss what is involved in starting one up.
When you start working for yourself there are several things you must take into consideration.
How much can I afford to spend on advertising, materials and other costs, can I afford to lose the money I am going to put into this business, where will I get finance from? And a million other things.
So I will break this down into many small chunks which will make it much easier to digest.
How much money will I need to start this up?
That is entirely dependant upon you and your goals. You should only invest as much money as you can afford to lose, this way, if everything goes wrong you can still live without too much interference.
That aside you must think how much you are going to spend on advertising. To work this out, you should take all of your costs and assign them a percentage of your finance which you will put into them. For example, if you had $10,000 to start your Business, you could assign 10% to advertising depending on how much everything else costs.
In my opinion you should work out your initial costs first, like rent and materials for example.
Then you can take what's left over and assign it to whatever else you want to spend the money on - continued below ...
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continued ...
afterwards.
How can I tell if I can afford to lose the money I invest in my Business?
Very simply estimate the most that the business will cost you and assume that it wont make any money at all for a month, obviously this will be a big loss, but it will give you an idea of what COULD happen if your very unlucky.
If it looks like way more than you can afford to lose, then don't do it until you are more prepared. But please remember that in business, there is no reward without risk. So if you don't risk your money, then you wont be rewarded.
Do I need finance? And Where can I get it from?
Do you have enough personal savings to start the business you want to? If you don't then you will need external financing.
The place where most people will get there initial financing is the bank. But there are other places and people as well.
Bank:
Mortgage for premises
Loan
Venture capitalists
Grants
And many more, but the above are the main ones.
I'm sure you know what mortgages and loans are, but chances are, you don't know what a venture capitalist is.
A venture capitalist is someone who contributes financing to a business in exchange for part ownership of the firm. This is ideal if you are starting an expensive business which you might not be able to afford, but expect high profits from.
But be careful, when you give up part ownership you give up some profits.
Stephen Warren is the creator and webmaster of http://www.marketershandbook.com, a completely free business and marketing resource which anyone may use.
freeserve.net@swarren30.fsnet.co.uk
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| _Additional Resources ... |
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Business Partners & Marital Partners Will The Marriage Survive - Part II - Chuck Sue DeFiore
In the last article, we concluded by saying that keeping your business and personal relationships separate is very important to the survival of both your business and your marriage. In this article we will talk about how to achieve this goal. One...
Is Your Business A Pain, Or A Pleasure...And Can You Imagine Life Without It? - Noel Peebles
If your business is successful, then chances are you have poured most of your time, energy and spare money into it - for what may have seemed like forever. Your company may have become your life . . . an extension of yourself. Can you really...
Splitting the Roles of CEO and Chairman - Jessica Klein
Traditionally, in American businesses, the same person occupies the role of chairman of the board and chief executive officer, though this is gradually shifting to the European model. In most European, British, and Canadian businesses, the roles are...
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