7 Steps To Start A Home Business And Be Successful (Continued)

Read previous part here. 

STEP #1 Write A Business plan
A good business plan clarifies your ideas and establishes a plan of action. A good business plan should include a description of what you are selling, your background and qualifications, who the prospective customers are and where they can be found, what is needed to build the business, how you plan to promote, and how much money is need for start-up costs.

STEP #2 Get An Identifying Or Registration Number
If you are the sole proprietor of the business and have no employees, you may either use your Social Security number or an Employee Identification Number (EIN) as the business number on official forms. If you have employees, or the business is set up as a partnership or corporation, you must obtain an EIN. To do this, complete IRS Form (Application for Employer Identification Number) and file it with the nearest IRS  Office.

STEP #3 OBTAIN A SALES TAX PERMIT
If the product or service you sell is taxable, you need a state sales tax permit. Call the local tax agency, explain the type of business you have and what you sell, and ask if you need to collect sales tax. If you do, they will send you the necessary information and forms to complete. You also use this tax number when your purchase items for resale.

STEP #4 Obtain Licenses And Permits
It's very important not to overlook any necessary license or permit. For example, some cities and counties require a general business license, and most have special laws regarding the preparation and sale of food. Find out what is needed for your particular business. In addition, Chamber of Commerce provide information on city, county and state licenses and permits in many countries.

STEP #5 Design Business Cards
Spend time on the color, design and paper for these items. They make a definite impression-good or bad- on the people who receive them. If you are not certain what is most suitable and effective, consult a graphics designer or a creative printer whose work you like.

STEP #6 Open A Business Check Or Current Bank Account
Find out what services the different Banks offer, and what minimum balance, if any, must be maintained to avoid paying a service charge. Also ask about credit card  if you plan to offer this convenience to your customers. Bank fees can be significant, so shop around for the best deal. If your personal checking account is with a credit card, some can also provide a separate business account. when you open your account, you may need to show the assumed name certificate and business license.
Finally, investigate obtaining a credit card in the business's name. If this is not possible, set aside a personal credit card to use for business expenses.

STEP #7 Setup Record keeping And Accounting Systems
Put together a simple and effective bookkeeping  and Accounting system. For each month, set up columnar sheets for income and expenses. Use a pocket divider for each month's receipts, bank statement, deposit tickets, and canceled checks. In addition, an automobile log for business mileage, and filing system for correspondence, invoices, supplier catalogs, client records, etc. are two other useful tools. For more information on record-keeping, see here, Information for Business taxpayers. Read more here.

10 Marketing Lessons From Years Of Online Marketing Experience

1.) There are lots myths and tricks flying around in the online marketing world.

For Example: "Email marketing is dead." Just as an example, Don't swallow it whole, hook. line and sinker. Not even when it comes from a perceived "guru." Test. Always test. To find out what works for you.

2.) Your job as a marketer is to channel attention to your sales system.

If you have a solid sales system. It will convert those attention to cash and you will get results.

3.) The affluent goes for wants. The average person (mostly) goes for needs.

Sell to each according to their desires, no harm done, so long you are both happy.

4.) Nobody cares if you're selling hard.

As long as what you sell solves an urgent, desperate problem they have, they will be glad to patronize.

5.) Your audience is not tired of your marketing messages. 

They are just tired of your lack of creativity! It is as simple as that.

6.) The market dictates what sells. Not your preferences.

Check your emotions. Listen to your market. This is very important

7.) Superior marketing (i.e. marketing strategies that converts) hits from multiple angles.

Put simply, different marketing message resonates more with different segments of your audience, as in the African saying, many ways leads to the market place.

8.) A prospect that doesn't buy today will, very much likely, buy tomorrow. 

Keep them in your net. Feed them with good information.

9.) Your ideal prospect will first doubt you. 

And then believe you (IF) you give them enough reasons to. This happened to me so many times.

10.) The marketer who knows the prospect better. And has found a way to communicate to them that he knows them better than any other marketer will win.

The ultimate goal is to be happy, that is a win win situation for the seller and the buyer. So get get to work and let's win together. Stay safe and have a wonderful day.