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Thursday 18 February 2016

How To Manage Home Business Cash Flow

There's something you can never afford to forget when you are running a business out of your home -- cash is king!

Whether it is a multi-billion dollar empire, such as Bill Gates' Microsoft, or the tiny mom-and-pop convenience store on the street corner, cash is the lifeblood of the business.

In today's uncertain economy with ever rising interest rates, many small businesses with limited financial training are having problems staying alive, let alone prospering.  In fact, 63% of new businesses don't survive six years -- and most work-at-home people fail within 6 months!

The primary reason is bad cash management.  To many self-employed people neglect their cash flow until it is too late to recover.  Suddenly, presto! it 's back to your office job!  We don't want that to happen.

So the big question is: will you be able to manage your cash flow effectively?  If you are not sure, then you are on shaky ground.

Les Masonson, author of Cash, Cash, Cash: The Three Principles of BusinessSurvival and Success, says cash flow is all about, "getting the money from customers sooner, paying bills at the last possible moment, concentrating money to a single bank account, managing accounts payable, accounts receivable and inventory more effectively, and squeezing every penny out of your daily business."

Let's break down Masonson's tips one at a time.










Home Business Start-Up Information Manual

America is coming home to work. Home-based offices are becoming the wave of the future. Tens of thousands of workers are opting for this way of life, a life in which they can make their own hours, commute to work in seconds, make their own choices and become their own bosses.

For  many the home office is becoming the location for a full-time job and the primary source of income. For others it is a part-time venture. Many start on a part-time basis and grow their business into a full-time operation.

Current figures available indicate that during 1991 the percentage of self-employed working from home jumped by almost 6% to approximately 12 million. While working at home has an almost irresistible appeal to many, and many have some big misconceptions of what it is like, here is some very useful information that can help you get started successfully.

Legalities of Working at Home


Before setting up your new business it would be advisable to check on the legal status of your business. You need to check zoning laws for your community which may dictate if you can legally operate a business from home. We realize that many businesses never check on zoning for their home-based business and chances that they ever get into difficulties with the law are probably pretty slim.

If there are no changes in structure and you do not have customers and or employees enter your home, regulations will tend to be far more easy. Laws and regulations change from community to community, but the following 5 factors will generally be regulated items:

1. Separate business and private entrances.

2. Square footage of the home which is taken up by commercial space.

3. Employees working in the home.

4. Certain occupations such as jewlry or clothing

5. Storage of commercial goods, especially any hazardous materials.

Here is an important suggestion: keep relations with your neighbors on a friendly basis. Your neighbors will soon become aware that you are working at home. Some may even be envious, and yes, unfortunately zoning authorities will generally become aware of home office zoning infractions through a "friendly neighbor".

Business License

Most cities or counties require businesses to be licensed. Some home-operated businesses, however, are not required to have a business license. Check with your local City or County Clerks Office to obtain regulations for your locality.

D.B.A. Registration

If you are using your own name as your business name it will not need to be registered, but if you use any other name, or even your abbreviated name, almost all localities require that you register the name. This is called a fictitious name registration or D.B.A. "Doing Business As" registration. If your name is:

Randy M Jones and you name your business Randy Jones or Randy M Jones Enterprise you will not have to register it, but if you call it: RMJ Enterprises you will generally have to register the name.

Most states have a name search bureau which is a part of the state government. You will generally be able to call this office to see if a given name has already been registered to someone else in the state. This is important to do, or it could be costly later. If you give your business a name which is already registered to another company, the other company may demand, and even take legal action to make sure you comply, that you cease to use the name.

Your Company as a Legal Entity

Businesses are most commonly set-up as one of the following entities:

The Sole Proprietorship

Most new businesses choose the Sole Proprietorship. It is the least complicated. It requires no paperwork. The proprietor you, or you and your spouse as the owner, or owners, are taxed for all net profit from your business. You add the income of the business to other income, or deduct the business loss from other income. Your tax adviser can give you specific information.

The disadvantage of the Sole Proprietorship is that as the owner you can be held fully liable in a lawsuit. An incorporation, on the other hand, will give you some protection. In this case the "INC" rather than you is the legal business entity. If you are starting a business that tends to have liability exposure the corporation may be the way to go. In this and other legal questions, only your attorney can give you competent legal advice.

Partnerships are generally chosen when unrelated individuals own a business. A partnership should be set up by an attorney, or all kinds of problems can develop later.

Designing Your Work-space

First, you must determine how much space you need. Chances are what you may initially think is quite large may be crowed or not enough space. While many businesses are started from a corner of the bedroom or kitchen, if the space is available it would be far better idea to take a spare area of the house and convert it  it into your office. There may be space in the basement, garage, or a spare bedroom. Having a separate space is more efficient and will make for maximum efficiency. It is also psychologically important. You do not want home activities to interfere with your business, or vice versa.

Friends and family will need to be told politely firmly that business hours mean business and dropping in, or calling to chit chat is not acceptable. Psychologists suggest that you work "from" home not just in your home. There is a danger of becoming isolated. Inasmuch as time allows, participate in seminars and local business activities and organizations.

Financial Planning

It is said and also my own personal experience that owners of new businesses never have enough time or money. The majority of small businesses which do not succeed will fail because they are not properly financed. n your financial planning carefully review all required start-up expenses as well as on-going expenses before revenue will be generated.

Estimate your profit margins and all fixed and controlled expenses. Almost all entrepreneurs will tend to be much more optimistic about their estimate of the financial performance of a business taken what is necessarily realistic. There are always unforeseen expenses.

It is a good idea to only invest in absolutely necessary expenses. This applies to furnishings, supplies and all equipment. Computer equipment in recent years has become outdated within a short period of time. So, if what you acquire will serve you well for 2-3 years will be able to upgrade your equipment later on. Your emphasis should be on conserving capital. As your business develops, unexpected hurdles will come along and periods of low revenue. Your capital will make it possible to keep your business operating during these times.

Why Should You Have A Business Plan?

While writing a business plan can be made into a highly sophisticated undertaking especially by large corporations, its easy to do when done for a new or small owner operated-business. Essentially, you will be committing your plan to paper. As you do so your thought will become more formal and concrete and this will tremendously assist you in the development of your business. If you are considering to obtain financing for your new business either through a bank or the SBA, a formal business plan will be a necessity. Home-operated businesses will have a much more difficult time in obtaining financing.

Don't Forget Uncle Sam

As in all undertakings of life from birth to death and beyond, the IRS will be there to watch over you. Almost all small, home-based businesses will start out as "Sole Proprietorship." This legal status is best for ease of handling and for tax benefits. Your net business income or loss becomes an addition or deduction to other income declare at the end of the year. Careful record-keeping of all business revenue and expenses is a must. Keep a separate business checking amount for your business. Do not intermingle business and personal expenses. Other special tax benefits and regulations apply to home-operated businesses. You should obtain professional advise from your tax adviser.

Free Publications available:

"Record-Keeping For A Small Business" IRS publication 583. Call the IRS 1-800-829-3676.
"Business Use Of Your Home" can also be obtained free from the IRS.
"Tax Guide For Small Business" is an annual IRS publication #334. It is also free.


One disadvantage of being self-employed is not having health and disabilty insurance. You may also need liability insurance. Your homeowners insurance covers your belongings in your home, but itmay not cover all business inventory and equipment. Check with your insurance agent to make sure you have the right coverage.

Factors that will Determine Your Success

Do Your Homework

The more you know about your business, the better your chances of success. Attend seminars and join trade associations. Read books and trade publications. If you do not have a business background a business introductory class at a local college would be advisable.
Planning is Key to Your Success

You and your family's future and livelihood is at stake. So your decision and planning to start a business are very serious matter. Establish a long range plan which encompasses your business and financial plans. You should obtain legal or financial advice from an attorney or accountant before committing to nay long range or major financial transactions. Agreements with suppliers or customers should be put into writing.

You Must Wear Many Hats

Small business owners over time can become experts on a variety of subjects. At the start the most important aspect is the mind-set. Your communication to the rest of the world through all available means will determine your success. here is an abbreviated marketing check list:

Telephone equipment
Promotional Material
Advertising (Don't forge the Yellow Pages)
Direct Mail
Membership in Organizations
Direct Sales

Invest in Good Equipment

The right equipment will make your work easier and your business more efficient. To conserve cash used equipment should also be considered.

So What Are Your Chances?

The better you think they are the better they generally are, and don't forget that among thousands of others:

Apple Computer, Domino's Pizza, and Walt Disney all started as home-based businesses.


Because tens of thousands of people all across America want to know how they can work at home and earn enough money to run a household, there is a special need for this report. Today the need for women to work out of the home is stronger than ever. According to recent surveys, almost 70% are married and contribute up to 50% and more to the family income. Because family responsibilities play such an important part in the lives of men and women, millions of individuals and couples are seeking ways to make money at home.

In the past decade money-making, home-based opportunities that match a person's skills, interests, abilities, and ingenuity have become almost limitless. This purpose of this report is to show you that it's simple and easy to join the ranks of success-minded people by choosing a work-at-home program that suits your interest and needs.

Business histories have shown over and over again that the rewards and advantages of working at home can go far beyond a person's wildest dreams. In fact, it's perfectly possible to launch a small business in your garage, backyard, basement, or a room in your home, and become a giant corporation.

Your first step will be to study the company listings in this report, and then contact those that interest you. It's possible you may not be interested in many of those listed in this brief report. But others may serve as that great motivator that makes you look further with a renewed determination. Once you develop that mind-set, persistence will follow and then nothing will stop you from achieving your goals.

If you expect any level of success you must set goals. If you expect to be successful, you must determine what that means to you and the best way to achieve it. There are two basic steps you can take to covert goals into achievement: 1) You can decide on a specific dollar amount; and 2) You can set a time frame for obtaining the dollar amount you want. Your goal should be specific and indicate, What, When, Where. After making a list of every possible way you might accomplish a goal, select the method that best suits your situation.

1) "How can I support my family while I build up my business?"
This question must be worked out according to each individual's circumstances. Many people start out on a part-time basis after their regular jobs to see how much they can handle. Then when their incomes reach a certain level they will switch over and go full time.

2) What are my abilities?

To determine your abilities you will have to take an inventory of yourself. Decide what you enjoy doing the most and what your "feel" you would be good at. Examine every possibility and include every skill you have no matter how slight.

3) Is there a market for the product or service I have chosen?

Be cautious before you invest any money! Check it out by making inquiries directly to the company, competitors, or firms who are marketing a product similar to the one you are interested in. Test it on a small scale. Check it thoroughly.

4) How long will it take this business to reach the financial goal I must have?

It's really a question of knowing how much time you can dedicate to your business, and what your profits are for that time. From there, a simple addition will tell you how long it might take to reach a particular financial goal.

Starting a business at home is an economical way to start a small business that can easily grow into to a larger one. Many entrepreneurs have proven that you don't need a huge manufacturing plant to develop a successful business. Some of the most successful businesses in existence today started in a spare room or garage. It isn't how you start out that is important. What really matters is did you have the courage to begin.


Take a close look at your interests and abilities, and then decide what type of marketing you want to do. For example, do you want to sell directly to people; or would you prefer selling wholesale to retail outlets? If you prefer doing piecework or assembling items for manufacturers, make certain it's something you enjoy working with. If you enjoy one-on-one sales, then test the product out on your friends, relative, neighbors. The object is to find out what has the most appeal.

A good marketing techniques is one part of the business plan that is absolutely essential to it's success. In fact, the ability to properly market a product or service is actually more important than the product itself. Even an inferior product can be a financial success if marketed properly. Seek out the advice of everyone in your field. Explain your needs and ask them questions. Experience is the best teacher. With good advice and a salable product, you should be able to develop a winning marketing plan.


The first place to look for financing is right at home. Take an inventory of items you don't need and have a garage sale. Most people are pleasantly surprised at how much cash can be raised in a single weekend. Next, turn to members of your family or close friends who have faith in you and want to see you succeed. Offer to repay them through profit-sharing. Go to individuals in  your community who and believe in your personal worth.

If you have a good credit history your banker should consider you a good financial risk. Two other excellent sources would be your local Small Business Administration (SBA) and Chamber of Commerce. SBA has low interest loans available for qualified applicants and your Chamber of Commerce can assist you with referrals and other helpful information.


Anyone who is serious about work-at-home opportunities need only look around them. There are thousands of options everywhere! There are employment opportunities that involve becoming an independent contractor; working on a commission basis; working for a salary; freelancing for pay; getting paid by the hour, receiving pay for each piece assembled; getting paid by the project, or a combination of any of the above. No doubt, what you finally decide on will depend on your particular needs and interests.

Don't become discouraged if the company you contact isn't hiring right at the moment. Often circumstances change rapidly. Use you imagination to convince an employer there are great advantaged to giving you work! Be a self-motivator and continue moving forward towards the goals you want and deserve.

Do it starting NOW!


All around the country, people who want more control over their lives are starting home businesses.  In New Orleans, Rick Hart's home based cajun Cargo ships seafood nation wide. In Palatine, Illinois, Stephaine Heavey works from home designing and selling original patterns for fabric dolls. And in Dallas, Lisa McElya published the Dallas Party & Event Planners Guidebook from the entire first floor of her two-story home.

These three people are living the new American dream of owning a business, but avoiding the high overhead and start-up costs of a commercial location. If the idea of working from home is appealing, but you don't know where to begin, here is a step-by-step guide.






















Wednesday 17 February 2016


Telephone canvassing is the business of calling people on behalf of a client to obtain and/or disseminate information.

It is valuable service that can be difficult for business men in your area to obtain elsewhere. Large cities have their "boiler room" operations that employ commissioned based telephone solicitors and pollers.

They use a bank outgoing Wats (800) lines to call potential prospects all over the country and try to "qualify" them as leads. Their products include TV viewing polls, magazine subscriptions, office products, polls, real estate, investments and specialized sales of all description.

Canvassing by phone is a viable alternative to other forms, such as door to door or canvassing by mail. It is relatively inexpensive (compared to door to door) and has the advantage of immediate response.

Some companies use computers to call, present a short recorded message and ask if a salesman can call back later (these machines sell in the $1,000 range and up).

However, some 70 percent of people who receive such calls dislike being called by a computer and will not corporate; many hang up the moment they realize WHAT they are "talking to."

Nevertheless, the business of selling, polling and developing leads by phone canvassing is here to stay!

Starting your own phone canvassing business to obtain leads requires a relatively small investment and is not difficult.

A telephone and some "leg work" is all it takes to begin.

Work out your plan, and have some brochures or flyers printed and start contacting businesses that sell.

Call them first and if they show any interest send them a brochure.

Explain to prospective clients that they don't pay for the calls -- only actual appointments or leads that you get for them.

This way, the canvassing costs the customer nothing. He won't mind paying for a qualified prospect (either a fee per appointment or percentage of the sale), because he will make a profit in the process.

Your fees can be a set fee per appointment or lead, the actual amount being governed by the size of the sale

A lead for a possible $100 sale might be worth $2, but one for $1000 should be worth a good deal more.. The alternatives is to be paid a percentage of each sale that is made to names you have provided.

Consider this alternative only when you are confident your client will be honest with you.

Polls and questionnaires are usually priced by the number of successful records obtained and/or the amount of call made and amount of information recorded. Calculate your charges on the amount of time it will take you to accomplish the assignment.

Your profit margin, by the way, will increase as you become more proficient and make more successful calls.

When you reach an agreement with a client to do telephone canvassing, put it in writing -- a contract.

Write out what you consider to be a fair contract in general terms, then have a lawyer look it over (his fee will be half of what it would cost to have him write if from the beginning).

The contract should state that you agree to make a certain number of calls to people's homes ( or businesses) located in a stated area, and that a list of those who meet certain qualifications will be provided daily (or?).

The client agrees to pay a fee for each name, each sale, or a percentage of each sale for all sales made to names on the list for a period of (one year) after the termination of the contract.

In your discussions with the client, he will state what he considers to be proper qualification -- things like, do they own their home; can they afford to make payments on a washing machine, and if they are currently employed.

Both you and the client should agree on what would be fair qualification for the type products involved.

For percentage sales, the contract should state that any additional sales for an agreed period in the future are also subject to the percentage.

This clause is your protection against seller fraud -- honest clients will not mind paying you your earned percentage. Spot check phone calls can be used to detect any sales for which you are not paid.

Once your telephone canvassing business has been established, the same clients should be apprised of any additional capabilities you acquire. Place ads, send out brochures or CALL potential clients.

Contact opinion poll companies, mailing list companies and don't forget to contact both party headquarters about 6 weeks before election time!

The step from telephone canvassing to telephone sales is a short one that requires essentially the same equipment and know-how.

Sales can be more profitable than canvassing because each sale results in a profit for the client and a commission for the telephone sales person.

The actual profit depends on the price of the merchandise, sales volume, popularity, sales presentation and incentive (commission). Another lucrative variation is to sell your own items by phone.

A good way to start would be to find a product that does not compete with any of your present accounts but might appeal to those you call. In this situation, you would bring up your own product until you had satisfied your client's interest.

Records keeping in this business is the same as other businesses, except that you should keep separate records of each client and copies of all names referred to that client, as well as all financial details. And, the major warning is to keep your word. If you say you will call 100 names a day, DO IT!

When you agree to do something for a client, you are OBLIGATED to fulfill that promise. If you are tempted to take short-cuts, remember that it is the success of your business that you may be placing in jeopardy.


CAREER OPPORTUNITIES Flexible hours, Promising salary. Holidays negotiable. Be your own boss. No experience necessary.

If you spotted the above ad in the Help Wanted section of your local newspaper would you laugh, "Too good to be true"? But it is true! Have you always said, "I'd never have the money or the skill to start my own business." But you do! One of the easiest businesses to start and operate requires very little money. The only necessary skills are patience, time, and lots of love. The business? Pet-sitting!

Jackie McDonald owner of Jackie's Pals in Houston, Texas, started her pet-sitting business after working eight years in a doctor's office. "I wanted to do something I enjoy," she says. "I love animals and I find this work is very calming." Mcdonald spoke with other pet-sitters in her area and discovered how busy they all were. She felt her neighborhood could support another pet-sitter. She was right. Mcdonald just completed a very busy and successful holiday season.

Pet-sitting involves going into someone's home and caring for a pet when when the owner isn't available. The service can include plant watering and mail and newspaper pick-up. The focus, however, is on the animal. Pet-sitting saves a client and the animal the aggravation of dealing with a kennel. Clients expect a variety of services: feeding, watering, liter box cleaner, pill giving, and especially some Tender Loving Care for a lonely animal who misses its master.


This business of raising and selling rare or unusual animals, where both expenses and profits are much bigger than normal. Llamas, angora rabbits, mink, pheasant, snakes, bullfrogs, spiders and miniature horses are but a few of the possibilities in this large category.

Which animals you raise will of course be influenced by your own preferences, the facilities you can provide, where you live, and of course the market in your area. You can go into this business from a hobby or just go out and buy a pair of whatever animals you would like to raise.

The primary advantage to "exotic" rather than regular animals is income potential. Raising ordinary rabbits requires far less investment in breeding stock, facilities, care and time than expensive, pedigreed angoras.

However, when its time to market ordinary rabbits, they are worth perhaps two to five dollars each. Pedigreed angoras would be worth many times that, especially if they had a blue ribbon winner in their ancestry.

With a $100 animal, you have an incentive to provide the best care and living conditions and call that $25 per hour veterinarian at the first hint of trouble.

A litter of ordinary rabbits would represent about $50; angoras, say $500. Needless to say, you have an incentive to invest more in care of the more valuable investment.

The first step after deciding upon an animal that would fit your situation is to learn all you can about that animal. Study its habits, feed and shelter requirements and learn something about diseases or genetic problems that might affect your ability to properly care for them.

Although there is a good profit potential expensive animals require more care and closer attention than ordinary farm stock or pets... It would be very good idea to discuss your plans with a veterinarian before going too far. Find out about normal health problems, which ones you can treat, the cost of preventive care (and the cost of veterinary treatment).

If you are not already equipped (facilities and experience), it would be a good idea to begin with "ordinary" animals of the type you plan to raise. Raise these until you are ready to progress to more expensive, exotic breeds.

In other words, learn and make any mistakes with $5 animals, not $50-$100! But be very careful when you change over. It imperative to keep pedigreed and ordinary animals apart to prevent inter-breeding. It is just as important to prevent the spread of diseases borne by ordinary species, which are unusually much more disease resistant.

Before placing your expensive, exotic breeds in quarters formerly occupied by ordinary animals, take special precautions. Clean and treat the areas thoroughly so your prized exotics can get started in clean, disease and pest free living conditions.

Study potential diseases of the animals you select. Learn how to prevent and even treat as many problems as you can. You don't want to pay expensive veterinarian fees for things you can take care of (or prevent) yourself.

Consider the weather in your area -- will you need heaters or cooling for the animals you plan to raise?

How about feed or bedding materials? Check will feed stores on the various types of feed (some have added vitamins and/are medically treated.

Can you raise any of these things yourself or make a deal with a nearby farmer to at least augment feeding costs?

When you have decided upon the animals you plan to raise, and have learned of their care and habits, its is time to start building pens, sheds and feeding areas.

Pay particular attention to safety of your charges (as well as neighbors, if applicable) Birds, for example, not only need wire cages to keep them in; they need strong wire to keep any predators out.

This may include snakes that only 1/4 inch wire mesh about three feet can repel. Also, take special care to arrange your pens or cages so the animals will not be frightened or excited by their surroundings, which could interfere with their development or well-being. In some cases, it will be necessary to fence off a buffer zone, build a solid fence or plant a hedge to make sure your animals feel secure.

The exotic animal business will probably take time to build, but can be especially rewarding for someone who is fond of animals.

Subscribe to a good trade journal and look into joining an association of people interested in the same or similar animals.

Attend shows and fairs and enter your prize animals --not only for the prize money, but for the recognition and prestige it will afford your business. A blue ribbon will change a $20 rabbit into a $200 rabbit instantly! Even the descendants of the the prize rabbit will be worth more; especially if they are registered.

Exotic animals are raised for many different reasons -- as pets, for their fur, wool, or feathers or food, as oddities for special purposes or many combinations thereof.

Some of the businesses are quite unique: a man in California raises tarantulae and "rents" them to jewelry stores. He delivers them at closing time, places a large warning sign in the window and picks them up each weekday morning. It seems break-ins have dropped drastically in stores with "guard-tarantuals"!

Spiders are also raised for their webs (science labs use them); snakes for their venom (used to make snake bite serum). The business of raising laboratory mice is also very lucrative -- thousands are purchased by science centers every year.

For more ideas on exotic animals you might want to raise, check out some books in the library and do some research; check with discount book stores; exotic animal magazines, and spend some time with a good encyclopedia. If you decide to get into the exotic animal business, pick an animal you like and respect -- then treat it as something special. Not only is this right, it a sound business principle.

If you want to get exotic prices for you exotic animals (or products), "showcase" them as something special! Keep them and their area in top condition. Let everyone see that your animals are special (and valuable).


Publish and distribute an index (or directory) of home businesses in your community. If you can't think of an ideal business for yourself, then start a business that helps others to build theirs -- by publishing a directory of who sells or does what, what they charge, and where to find them! Something like a weekly BIGTOWN BARGAIN BULLETIN containing listings, little write-ups and possibly, some advertisements.

Statistics tell us that some 25 MILLION  people arenow operating businesses out of their homes -- and that figure is climbing daily. Most of these enterprises could handle much more business if they could get and would greatly appreciate any assistance in this department.

On the other hand, many consumers would just as soon do their business close to home if they could get the same quality and service and didn't have to waste their time looking for a reliable source. A HOME BUSINESS DIRECTORY serves both the businesses and the consumers!

Collect the name , addresses and phone numbers of home businesses in your area (place ads in local advertisers if necessary).

Contact them and explain your intention and find out more about their products or services. You can ask them particulars about their business over the phone, but it would be much better to mail them a questionnaire with plenty of room for comments. Be sure to include details of any types of warranties or satisfaction assurances they give (money-back, exchanges, etc).

Explain that you are making up a directory and that there is no cost to them for an initial listing unless they want to place an advertisement. They should be able to select the heading under which their business will appear, and POSSIBLY  given one line for a slogan or brief explanation.

Those who want to be listed under more than one heading (like Service and Word Processing) would be charged for the extra listing-- even for the first listing. Then you can sell larger ads, just like the phone companies.

Stress it that businesses must honor their commitments and offers made through your publication - or risk being omitted from future issues. You want them to offer specials in exchange for the free mention. The objective is to give your readers an incentive reason to read your publication to see what bargains are available this week.


As millions of Americans look for greater control over their financial destiny, the dream of self-employment has become more compelling that ever. Just the idea of launching a small business to become their own boss, and financially independent, drives many people to stake their life savings on everything from franchise opportunities to some gadgets they've invented.

To entrepreneurial spirit is, of course, a part of our great national tradition. The problem is that many people devote a lot of their time to half-baked ideas and high-risk flings that have little chance of success.

There is always some gamble involved when you start a business, whether your investment is $50.00 or $500.00, or more. But once you begin to view your new business as a "gambling" the risk-reward radio tilts out of wack! The shrewdest and most successful entrepreneurs know that "taking the plunge" works best when you take along tested principles that put the odds in their favor.


















How To Start Your Own Profitable Home-Based Computer Business

Anyone who owns a computer has the means to earn a sizable full-time income from the comfort and privacy of his/her own home. That's because, practically anything you can do for yourself on a computer, you can also do for someone else --for money! Therefore, the hundreds of services which can be provided with a computer present the opportunity of a lifetime to achieve independence and financial security.

Of course, starting your own home-based computer  business will require careful thought and planning. Some services are more feasible than others and you'll need to be as certain as possible that there is a demand for the services you intend to offer. The first thing to consider when picking a computer service to offer are what you do best and what you enjoy doing. You'll need to be certain you are capable of providing a quality service.

After all, your success will largely depend on the quality of your work. Therefore, you should stay away from offering those services for which you are not qualified.

After you decide on what service(s) you want to offer, there are several other factors to consider before taking the big step of actually starting up. The first of those factors is profit potential, or how much income you can reasonably expect. The particular service(s) you provide and your own personal initiative have a lot to do with how much money you can make, but you should also be aware that service business income can be limited by the number of hours you can realistically work each week.

It may be difficult to bill more than 30 hours a week when you are not only doing all of  the work, but you are also "soliciting" work, running the  business, and keeping your own books and records. With that in mind, it's usually a good idea to try to provide services for which the hourly fee is high. Of course, once you've established a sound reputation, you can also begin taking in more work than you can handle alone. This extra work can be subcontracted out, and your total income increased.

The next consideration is what kind of demand there is for the service(s) you plan to offer. This will require some basic market research on your part. Find out for yourself, as best you can, just how many people there are who are interested in your proposed service, and would be willing to pay a "fair" price for it. It's important that you be able to define your market and pin-point your customers.

Once you've conducted 2 to 3 months of market research and, to your satisfaction, feel that there is indeed a potentially profitable market for your services, your next step should be toward "fleshing out" your overall business plan. Your business plan should outline how much capital you will need as a start-up investment, monthly operating expenses and procedures, an advertising plan, and a detailed breakdown of your work schedule.

The success of your computer business will come a lot more easily if you have a specific and detailed plan before you actually start up. Too many home-based businesses fail because their operators "jumped in" before they understood that the costs involved and the time required were beyond their means and abilities. If you have everything down on paper before you start, you have a much better chance for success.

You should also have a good idea of how well your business will do in especially tough economic times. In order to achieve long-term success, your business will need to be one that provides economic security even during periods of recession. It's essential that the computer service(s) you plan to offer will have a stable demand throughout any type of economic conditions and, in fact, have a good growth potential.

After all these considerations, before you start your business, you must be certain that you have the capital and time to sustain your business throughout the first six to twelve months of operation. In order for your business to be profitable, your living expenses must not come out of your business until it is on solid financial ground. And that usually takes 6 months to a year. Generally, once you have been in operation for 9 months, you can start giving yourself a monthly salary. Until that time, all the money you make from your service, should be re-invested in your business so it will grow and reach its planned profit potential.

Obviously, no one home-based computer business will excel in all the areas described in this report. That's why choosing the business that is best for you may require finding one that is the most desirable in light of the importance of factors such as what you are qualified to do, what you would enjoy doing, profit potential, demand, capital required to start-up, and resistance to low economic cycles. And, as mentioned before, there are hundreds of such computer services from which to choose.

Some of the more standard home-based computer businesses include desktop publishing, tax preparation, resume writing, word processing, and freelance writing. Starting up any of those services is relatively easy. As long as you already have the necessary computer and equipment, your biggest expense will most likely be in advertising your service.

Once you have your market targeted and you know who your customers are going to be, you'll need to determine exactly how you are going to reach them. In general, your most effective advertising for computer-based services will come from classified or display ads in national magazines, and less frequently, newspaper ads.

Some other computer-based businesses that currently present viable long-term opportunities include computer consulting, mailing-list service, medical-billing service, collection agency, and a brokerage service. All of these businesses have excellent income potential, good-to-high demand, good resistance to recessionary periods, good-to-excellent growth potential, and relatively modest start-up costs. While a medical billing service requires a special knowledge, the other businesses listed above have only moderate qualification requirements.

You may also want to investigate the possibility of some other relatively new computer-based businesses such as desktop video production, an export agency, a medical transcription service, real estate appraisal service, and a temporary-help service. All of these services are experiencing increased demand, and present home-based entrepreneurs with above average profit potential.

Whatever computer service(s) you decide to offer, you'll need to have your business plan properly organized before you begin. Once you've implemented and followed your plan for about one year, you may be able to consider hiring other people to take over at least part of your workload. Of course, that decision will be entirely up to you.

Operating your own home-based computer business should ultimately give you the independence and the financial security that will enable you to choose between running the entire operation and doing all the work yourself, or hiring other people to do the work for you while you relax and collect a regular income from your original investment.

Depending on the type of computer service(s) you offer, you can realistically expect to make an annual income of $20,000 to $100,000 and more. Your desire and initiative will go a long way in determining just how much profit you make. The opportunities for success in operating a home-based computer service are expanding every day. Any enterprising person who has a computer and who is willing to do the necessary research and planning, can achieve success and financial security with a home-based computer service.

Freelance Writing CAREER How to Write Anything and Get Paid For I

Have you ever heard the expression, "everyone has a book in them that's trying to get out?”  What does this really mean? Not everyone writes books, do they?
No, not many attempt the long, difficult process of writing a book-length manuscript. But a growing number of individuals are being paid for their writing; and, they've never attempted to write a book!
Why? Think about it! When you're driving to work in the morning, listening to the radio, what do you hear? People talking, right? It may surprise you that very little of that talk is spontaneous. The radio people work from written material, which means… ? Yes, someone has to WRITE the information down to be read over the airwaves.
Here's another example. Your mother's birthday is coming up. What do you do? You buy a card. Did you ever wonder who wrote the cards you look through when you're search­ing for the right message? Well, it's not a big company where people sit around all day writing cards. The writers of greeting cards could live next door to you since most of the material is submitted on a freelance basis.
How about your mail? Do you have days when you receive an endless amount of junk mail? Letter after letter of come-ons trying to get you to respond; these are not always thrown out. Some people read them and do inquire about the product or service mentioned. More importantly, those letters and flyers are WRITTEN… by someone!
You're getting the idea. Writing is a common part of everyday business life. From the brochures telling you about savings accounts down at your local bank to the billboard you drive by every morning on the way to work to the bumper stickers you read on the back of the cars in front of you. All of this is written by somebody. Why couldn't it be you?
Writing is an essential part of everyday life. There are scores of opportunities waiting out there for anyone interested in making some money through the written word. It's not just Stephen King and Danielle Steele. Many of today's successful freelance writers are completely unknown simply because their name doesn't appear on their work. Yet you see it every day from television commercials to newspaper advertising.
Don't have any experience? Nonsense! Everybody writes, from the notes you send with your holiday cards to lists you make before grocery shopping. You probably don't realize how much you write in a given week. In so doing, you are likely adjusting your writing depending on the subject or audience. When you send a note to school with your child, you're writing in a certain style that's likely different than a note you'd send to a relative.
This is exactly what writers do… they alter their writing content based on their subject or audience. So who says you can't write for a living?

There's no end to the kind of writing you can do. However, we do have a few suggestions for you to consider in getting started thinking about a career, part-time or full, in the writing field. As you review these pages, some idea may jump off the page as something you could do. Great! More importantly, don't think because you're never had a writing lesson that you can't do it. All it takes is practice, practice, practice and a determined desire to get it right. If you've got the drive, writing could well be your next career.