How to Start a Home Based Business Online
Congratulations on your decision to start a home-based business. Not everyone is cut out to be their own boss so I am assuming you have already passed the test and you are ready to get started.
There are numerous advantages to operating a business inside your own home, as we will see in a few minutes. So lets talk about how to start a home-based business online.
One of the most important things you will want to remember… is why you are doing this… as long as make your customer the most important one… to answer their question…then you will be successful with your home-based business online.
The test I was referring to earlier are some questions you need to ask yourself and answer with an honest answer. You need to find out now if you possess the passion, the determination, and the drive to sustain yourself when everyone will be looking to you for answers. So do you have what it takes to have a home-based business?
Most people when they think of having a home-based business is pure fantasy. That is, they see themselves sleeping till noon. Then walking into the kitchen with the newspaper in one hand and their laptop in the other for their cup of java. Business owners don’t sleep till noon, it is that simple. Business owners always have something to work on, whether it is Monday, or Saturday.
So you’ve got what it takes to have a home-based business? Ask yourself these questions to make sure you’re thinking about the right key business decisions. Answer these questions honestly. Find out if owning and operating a home-based business is right for you:
Why do I want a home-based business?
What kind of business do I want?
Will my business fulfill the need of my customers?
Will I be able to deliver satisfaction to my customers?
Who is my ideal customer?
What products or services will my business provide?
Am I prepared to spend the time to get my business going and continue to grow?
What differentiates my business idea in this market from my competition?
What types of suppliers do I need?
How much money do I need to get started?
How long do I have until I start making a profit?
Am I prepared to reinvest a percentage of profit back into the business?
Who is my competition?
What taxes do I need to pay?
Does my city/state require a business license?
What kind of insurance do I need?
How will I manage my business?
How will I advertise my business?
There are hundreds of reasons to starting a home-based business. My reason was simply to make a little extra money to supplement my income. For one reason I am getting older and my body prevents me from doing some of the things that use to come easy to me. The other reason is because no ones job is secure for life anymore, I wanted to develop security. .
My security would be earning revenue from multiple streams of income. If one or two streams eventually dried up, my stream of income would continue to flow from the other multiple streams.
For the first-time entrepreneur starting a home-based business online without having their own business or their own products to sell is still achievable. Just be sure to do your research.
Remember, there are only a few true legitimate work at home opportunities in the marketplace. And you have to find the one that’s perfect for you by doing strategic and detailed research!
Research is the key to almost everything that is worthwhile. To find the best price for an item to buy you don’t assume your favorite store has the best price, you go online to find the best price. Do you go to just one store online, or do you shop several sites? Research is key in finding and getting the results that you want.
I have found the best way to start any research is to find out what people want. You may ask how can you do this? The quickest way to find out what people are searching for is through Google Adwords. Here you find out what advertisers are spending to advertise on Google. You also find out what Keywords they are buying.
Google Adwords will want you to join (start an account) with them in order to use them. Another way to find what Keywords most people use to search the Internet with is to use a Keyword Tool, at Jaaxy. You get 30 free searches for free, then you must join their membership site. Click the link below to get immediate access: http://ecommercemakemoneysolutions.com/Jaaxy
What the Keyword Tool does for you is to let you see exactly what people search for to buy on the Internet. You find out what “niches” are profitable. This gives you the advantage of knowing what home-based Business Online to start. If you already know that four thousand people search for “blank” a month, you can find keywords that relate to that product or item to get Internet traffic to your business.
Will your business fill the need of your customers? This question must have an answer YES to it in order for your business to be in demand with continual growth potential.
The old adage of “Build it and they will come”, doesn’t work anymore. To build an online business you don’t need to borrow thousands of dollars to build a store. You don’t need to invest into inventory or into a large storage building. All you need is a computer with an Internet connection.
Tips in Starting a Home-based Business
Six ways to generate online income
⦁ Affiliate programs
⦁ Adsense and other advertising programs
⦁ Building a list
⦁ Amazon products
⦁ Relevant advertisers
⦁ Create your own product
The three Key Ingredients in Finding Success Online
⦁ Identify a profitable niche
⦁ Build a list
⦁ Introduce your list to related products
Setting goals for your success
Setting goals will help you maintain commitment and stay focused to what you want to accomplish in your business. First set your long-term goals, one year, five years, and ten years. Now working backwards, you make a plan to get to where you want to be by the end of your first year. I compare this strategy to like taking a trip. You know your destination but you need to plan how to get there. Remember, a home based business will go nowhere without goals, so do this first before starting any other tasks.
Create a professional looking home office
You need to do this to set boundaries, a separation between your “office” and your “home.” Even if it is in the corner of the room, put some kind of barrier up to separate the two. Your office is the office, and nothing else. When you arrive to your office, you are ready to begin work. When you leave your office space, your workday is over.
TIP: This separate office is a sub-conscious routine to stimulate your mental capacity between work and play. It is also a vital component when claiming a home-based business office as a deduction off your taxes.
Organize your Home-Office
Now that you have a set place for your home-business, now you want to fill it with supplies that will make your work more efficient. You will also need to keep a daily to-do list, calendar, and schedule book to prioritize tasks. Remember, a paper trail of daily business is a must when filing your taxes, so more is always better than less.
Stay focused and Keep to your schedule
Working at home is more difficult than normal because it is so easy for temptation for leisure activities to interfere with worktime. You need to remember that every moment you waste today will have to be made up tomorrow. That means more work. If necessary take breaks to keep your creative juices flowing.
For success, set a time routine and stick to it daily and weekly.
Separate business time from personal time
Once you set your work schedule, keep it. Don’t let your other personal tasks get in the way of your business work. Personal phone calls. visits from friends, doing the laundry or watching TV. Personal tasks can prevent you from staying focused on business.
Remember to take breaks from your computer every so often, maybe even add a 15 minute walk to clear your mind.
If you take these steps and work them diligently, your success rate will more than quadruple.
Commitment of Time
Do you have the time to effectively commit to your home business? Time management is so critical to the success of your home business. Remember the more time you put in, the more successful your home online business will be.
It is very easy to become too relaxed when no one is watching whether you are coming to work on time or not.
If you establish a routine early on to keeping a schedule when to start work, and when to stop, you will find that you will get so much more done.
What I would recommend is for you to write down your schedule and all your duties. Record what your typical day is. It should show you how much time that gets wasted. Hopefully it will also show you where you can save time by avoiding the things that aren’t accomplishing anything. Reading e-mail, for example, devote no more time than 10-15 minutes per mornings for this. Email is such a time killer!
The Advantages of Starting a Home-Based Business
A home-based business will be treated just like any brick and mortar store as far as receiving tax deductions for business expenses.
⦁ Percentage of utility expenses.
⦁ Percentage of home owner insurance
⦁ Percentage of house payment (interest only)
⦁ Percentage of repairs to your home.
⦁ Gasoline and/or mileage expenses for business usage.
⦁ Percentage of car insurance premium.
⦁ Office equipment and supplies.
⦁ Post office box for business mail
⦁ Depreciation on office equipment.
⦁ Business travel
⦁ Business meals.
⦁ Home office furniture, pictures, flowers, etc.
The list goes on. As you can see, the tax advantages of operating a home-based business could actually save you thousands of dollars a year in deductions! About $5000 a year for the average home-based business.
If you are interested in starting a home-based business online but either you are not sure exactly what to do or, what is available, then I invite you to contact me. I can show you how you can become your own boss. I can offer you a choice that no other job working for someone else can offer you. Just click on this link below if you wish to consider starting your own home-based business.
Home-Based Tax Deductions