6 More Steps To Start A Home Business And Be Successful (Final)

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 STEP #1 Check IRS Requirements
If you comply with basic (Internal Revenue Service) IRS guidelines, you can deduct a percentage of normal household expenses (mortgage, interest, taxes, insurance, utilities, repairs, etc.) as a business expense. Get More detailed information depending on the area or country laws and regulations.

STEP #2 Outfit The Business
Make a list of everything needed to start the business, but before you buy anything, look around the house for things you already own that are usable. When you are ready to start purchasing, check the classified ads and garage sales. Both are good, inexpensive sources for office furniture, typewriters, computers, answering machines, etc. But only what is absolutely necessary for start-up, and wait until the business is off the ground to get the extras.

STEP #3  Decide on Telephone Requirements
Find out the cost of a business LINE in your area. If you cannot afford a separate business line, investigate the telephone company's regulations on using your personal phone in a business. It is possible to do this if you follow certain guidelines. Keep a record of long distance business calls as they are a deductible expense. Finally, consider the benefits of an answering machine to catch calls when you are out.

STEP #4 Checkout The Post Office
Using a post office box as the business address down plays the fact you are home-based. It also prevents customers from dropping in at all hours. While looking into box rental, ask for information on the various postal rates, particularly bulk rate, if you plan to do large or specialized mailings. If you mail many packages, check out United Parcel Service (UPS) or Dhl, as it maybe less or more expensive than the Post Office.

STEP #5 Purchase Insurance If Necessary.
Check with your homeowners insurance agent about a rider for your existing policy or the need for a separate business policy. Also make sure you have adequate personal and product liability coverage. Shop around, as each company has different rules regarding home businesses. To save money on medical insurance, join an association and participate in their group plan.

STEP #6 Organize The House And Yourself.
To have more time for business, organize and simplify household routines. Start by holding a garage sale to get rid of unnecessary possessions. Next, have a family conference and divide household duties, making sure each person does his or her part. The, set up a planning notebook to keep track of appointments, things to do, calls to make, errands to run, shopping, etc. Finally, set up a work schedule so you won't get sidetracked by TV, neighbor's visits, snacking, and telephone calls. Creating and operating a home business is a wonderful and rewarding challenge. The satisfaction is not only in the money earned, but in doing what makes you happy. Have a Productive day.