Starting a Small Business from Home

Starting a small business for the first time can be quite thrilling, as well as scary.  It’s like taking a giant leap of faith.  That’s what makes it so vitally important that you create a strategy for success. 

Learning how to start your small business off right requires careful planning.  Let’s begin by examining the action steps necessary for starting a small business from home, by taking a look at the “How To Start a Business From Home Action Guide”.  We recommend that you print this page and use it as a step-by-step start up checklist.

How to Start a Business From Home Action Guide 

Step #1:  Create a Business Plan Outline 

Starting a small business absolutely requires a plan!  Without having a plan, there is no possible way you can set reasonable goals and successfully achieve them.  Successful planning can also show us something we may have overlooked, that could have serious consequences.   

You don’t need to be terrified about this important step.  There are many free resources available to help you create a winning business plan.   Start by requesting a free copy of the “Small Business Guide to FREE Business Plan Templates, Software and eCourses”, available at www.free-home-business-startup-kit.com.  

Step #2:   Make Your Business Legal  

One of the key questions we’re asked about the start up process is “how to start a business legally”.  When starting a small business, you are usually required to register your company’s trading name (also known as a fictitious name or DBA). You’ll also likely need to:

• obtain a business license, permit, contractor’s license and any other professional licenses

• check local zoning laws and determine if your community permits operating a home business

• register to collect sales tax or VAT

• register trademarks, service marks and/or copyrights

• obtain an employer identification number (EIN) from the IRS decide whether to operate as a sole proprietor, partnership, corporation or LLC

• Set up a recordkeeping system (required by the IRS)

Step #3:  Take Care of Money Matters

• Open a business bank account.

• Hire an accountant or bookkeeper.

• Purchase accounting software.

• Keep a close eye on cash flow.

In your business plan outline, you will have already addressed a plan for financing your home business and determining business start up costs.  If after completing this process, you have found your small business start up costs to be higher than expected,  you may want to examine the cost cutting strategies revealed in the Start-up Business Survival Guide: 101 FREE Products and Services to Help Finance Your Dream of Successful Business Ownership. 

Step #4:  Plan Your Workspace 

An important step that should not be overlooked when starting a small business from home is the need for an efficient, calm and well organized workspace.  Take the time to plan this space and make sure you have all the necessary office equipment and supplies to do your job effectively.  

Invest a little extra in a comfortable, ergonomic chair, adjusted to the appropriate height for your desktop.  Be sure that your workspace has adequate lighting, appropriate ventilation and natural daylight, if possible.  Remember, your work environment can have a significant impact on your emotional well being and physical health.   

Step #5:  Promote Your Business 

A major component of your business plan is a well thought out marketing plan.  No good business plan should be without one.  A marketing plan outlines the entire strategy for selling your products or services.   

You simply cannot learn how to start a business successfully without learning how to develop a comprehensive marketing plan.  Please keep in mind that marketing is not advertising and promotion.  These are simply elements of marketing.

• Get a quality logo.

• Order business stationery and promotional literature.

• Build a professional website.

• Join a business association, like the National Association of Small Business Professionals, to establish credibility.

• Execute your promotional campaign.

We sincerely hope that you’ve found this Action Guide helpful.  There are many factors involved in starting a small business, which may require you to adjust these steps in accordance with your unique business idea and start up strategy. 

If you’d like more information on how to start a business from home, you can request a free home business start up kit at www.free-home-business-startup-kit.com.

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