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Home-based Businesses Is Where the Cash is?

Jul 14, 2008
Is it possible to work at home with a minimal investment?

Yes. Consider some of the skills you have and incorporate them into ideas of your own or match your skills, available tools, and time with companies that make it possible for you to learn how to tap into a paying marketplace for a sometimes unconventional at-home business.

When finances are tight the idea of working at home can be especially inviting to a second wage earner or even the primary wage earner who wants the ability to increase their take home pay.

How to get started

The first thing any potential at home business owner must do is to determine what they can make available to the public. This is not simply a matter of what you can invest, but an honest assessment of what you already have. First, determine your skills and then determine what tools you already have available. Check with non competing businesses for advice.

If you are looking at a service oriented company you should concentrate on the tools you have and those you will need to perform the service you are contemplating. For instance if you are interested in providing a landscaping service you might need a truck and various yard tools. If you were looking at a home accounting service you would need a computer and adequate software. If you're working with a company that helps startup home business you should be able to get a list of what you need from them.

It is also important for you to check to see if there are local laws that disallow the business you are contemplating from a residential location. You don't want to get involved in a business only to find you are operating outside the law. It may require a special permit, rezoning or requesting that the law be altered to accommodate the growing field of home-based businesses.

Great expectations

As with any business startup you will likely need some immediate capital to get your business going. In many instances you may also need to apply for a business license.

In order to get your business off the ground you will need to follow a simply business plan. Check with family, friends and neighbors first to locate your initial customer base. Ask them to keep your business in mind when they talk to their extended network of friends.

Get to the part about a paycheck

Your paycheck largely depends on your efforts in marketing and in quoting jobs correctly. If you try to land jobs by always doing the work for less than anyone else you may not make very much money, but you may stay busy. Be competitive, but don't underprice yourself out of business. Honestly assess what it will take to do the work you are offering to do. Make sure you take into account wear and tear on equipment, the total amount of time it takes to complete the project and applicable marketing efforts. This should help you claim a paycheck that you can live with and will motivate you to continue on your journey into moneymaking from home.

Tip talk

* List your skills.

* List your tools.

* Develop a business plan.

* Learn if your business idea can take place in a home environment.

* Develop a fair pricing structure that allows you to stay in business.

* Get to work.

Home-based businesses aren't for everyone, and there may be some red tape to remove from your efforts before you can move forward, but it can present an opportunity to develop financial growth while helping others with products and services they need.
About the Author
Learn to Make Money Online, How To Make Money, and Make Money From Home at MakeMoneyFacts.
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