Beginning to work at home in a small business is the easiest way to become totally independent. It provides the opportunity to work for yourself in familiar surroundings.
But before I give you more info on this, let me pose a question: **If you knew that you had to make an additional $10,000 or more next year, what steps would you take to make it happen? Something to ponder (if you haven’t already).
Many individuals simply don’t have the money to afford renting office space, and choose instead to use a room in the home to set up a small business. The process of working out of the house is simple, and requires only a few steps to make it successful.
The first step is to decide exactly how you want operate as a new business. You can choose to be a sole proprietor, a limited liability company (LLC), a corporation or partnership. At some point, after setting up the legal structure of your home business, you’ll receive an EIN (employer identification number) to be used for tax identification whenever it is required. I personally have an LLC because I like what it has to offer. I don’t give tax advice or want to influence you in any way. It’s just that the options above can help you in terms of write-offs for business expenses.
You’ll need to determine the best place to set up your business in the home. For the purpose of taxes, in running a home business, you’ll need to indicate what part of the home is being utilized as the office. This will allow the aforementioned tax write-offs, and help you maintain a larger portion of your profits.
Once you decide to get started, use every type of leverage possible to promote your business. This includes using the Internet, printing business cards, and using free research options online to find ways to market your new endeavor.
Marketing and promotions are essential expenditures to establish a new home based business. It requires investing a good amount of effort, time and energy along with sufficient capital to ensure the success of your new enterprise. With proper planning and funding, you can finally achieve your goal of becoming your own boss. I always advise having at least three months of funds in the bank when you get started so that you’re not coming from a feeling of scarcity.
**Most of the recruiters I’ve trained are making a solid five or six figure income, even in today’s economy. Because of so many layoffs in large corporations, I teach independent recruiters how to target smaller and medium sized businesses who are still hiring. Many have said that the materials in my teachings on marketing and recruiting alone have given them a huge return on their investment.
Stay tuned … more to come. Have a blessed day!