subject: The process of starting your own home business [print this page] The process of starting your own home business
The process of starting your own home business
Step # 1 Choosing a business
Start by choosing a product or trade that you know. The more knowledgeable you are about it, the farther you will be able to take the products. For example, if you know and understand paint, start your own painting business or a paint store. Another great one for stay at home moms or dads, start your own in home daycare. You get to choose your idea and product and create your business.http://www.ixgw.com/ Best Financial Advice - Financial Planning | www.IXGW.com
Step # 2 Legal structure
Once you have you product or trade chosen, there are some other steps you need to do before getting your business running. You need to have your finances in order, a marketing plan, a business license and company (Sole Proprietorship, LLC, etc) and location for your business to be run from.
Step # 3 Marketing
Market for what your products or trade is. If you are going to start a photography business, you may want to do this out of your home. It is possible for consumers to know about your business if you are running it out of your home. You can market your photography business on the internet or in a local newspaper. Many stores will let you post flyer also. Get your name out there with specials and meet and greets. If you decide to run your photography business at a location other than the home, make sure to find a location that people will be able to see and recognize. If may be in a local mall or strip mall. Be sure your companies name is readable and they know what your product of service is. You can also market your business by attending local fairs and craft displays. Be sure to make your logo stand out and catch the eye.
Step # 4 Financing
Get your finances in order. You may be able to finance your own company; if you can, great. This will help you to start your business right away. But for others, you may not have the finances to support yourself. In this case, you will need to go out and talk to either investors or speak to a financial institution. Have a strategic plan and marketing idea for your investors or financial institution. You will need to sell your product to them. Once they believe in you, your finances will be a go. If they don't believe in you, don't loose hope, move onto a new investor.
The most important item you need to do for your business is your business license and any other legal forms you have to have. Check with your State and City licensing agents. They will be able to help you with all the forms you need. You may also have to pay a fee for getting your business started. If you feel uncomfortable about anything you are doing, it is okay for you to have legal advice or legal representation. You must follow all the state and federal steps to ensure your business is legitimate and to protect your personal assets from lawsuits.
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