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Start a Photography Business from Home
Copyright 2005 Roy Barker Anyone with the right camera equipment, and the necessary skills can set up a home business, marketing photography. You need only to convert a room of your house into an office, and then you can work immediately. With...
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Women Entrepreneurs Guide To Financing A Home Based Business
Women Entrepreneurs Guide To Financing A Home Based Business (C)2005 BB Lee It's a fact, over 66 percent of new business owners are women. And did you know that women entrepreneurs are 75 percent more successful than their male counterparts at...
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Home Business, What's So Great About It?

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Home Business allows you more time to do what you want.

Home Business gives you more freedom i.e. no more 9-5 job.

Because a Home Business is well.... at Home, you don't have to travel far to get there.

Just come down stairs in your pajamas and get to work right there and then. It's so convenient.

What is this article about?

Basically this is about starting a Home Business, what's involved, what options there are, how much it can cost etc.

I have already described the advantages of having a Home Based Business, so now we will discuss what is involved in starting one up.

When you start working for yourself there are several things you must take into consideration.

How much can I afford to spend on advertising, materials and other costs, can I afford to lose the money I am going to put into this business, where will I get finance from? And a million other things.

So I will break this down into many small chunks which will make it much easier to digest.

How much money will I need to start this up?

That is entirely dependant upon you and your goals. You should only invest as much money as you can afford to lose, this way, if everything goes wrong you can still live without too much interference.

That aside you must think how much you are going to spend on advertising. To work this out, you should take all of your costs and assign them a percentage of your finance which you will put into them. For example, if you had $10,000 to start your Business, you could assign 10% to advertising depending on how much everything else costs.

In my opinion you should work out your initial costs first, like rent and materials for example.

Then you can take what's left over and assign it to whatever else you want to spend the money on afterwards.

How can I tell if I can afford to lose the money I invest in my Business?

Very simply estimate the most that the business will cost you and assume that it wont make any money at all for a month, obviously this will be a big loss, but it will give you an idea of what COULD happen if your very unlucky.

If it looks like way more than you can afford to lose, then don't do it until you are more prepared. But please remember that in business, there is no reward without risk. So if you don't risk your money, then you wont be rewarded.

Do I need finance? And Where can I get it from?

Do you have enough personal savings to start the business you want to? If you don't then you will need external financing.

The place where most people will get there initial financing is the bank. But there are other places and people as well.

Bank:

Mortgage for premises

Loan

Venture capitalists

Grants

And many more, but the above are the main ones.

I'm sure you know what mortgages and loans are, but chances are, you don't know what a venture capitalist is.

A venture capitalist is someone who contributes financing to a business in exchange for part ownership of the firm. This is ideal if you are starting an expensive business which you might not be able to afford, but expect high profits from.

But be careful, when you give up part ownership you give up some profits.

Stephen Warren is the creator and webmaster of http://www.marketershandbook.com, a completely free business and marketing resource which anyone may use.


freeserve.net@swarren30.fsnet.co.uk

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More Reading:


A Perfect Time To Start Your Home Business

Where to Find Tax Breaks for Your Home Based Business

The Biggest Temptation When Working At A Home Based Business

3 5 Million People And A Possible UK Home Business Opportunity

Vending Machines and the Lure of the Instant Home Based Business

 
Starting A Home Business Step 8

Being Successful With Your Home Business

What Is The Difference Between A Home Based Business And A Home Based Job

Ideas for your New Work from Home Business

Start a Home Based Business When Is The Best Time

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Additional Reading


A Perfect Time To Start Your Home Business
Copyright 2005 Arun Pal Singh It was the day that changed course of my life. As we walked together on that empty road he asked me, “When are you starting with your venture?” He was a close friend. I had revealed him often how I would love to...
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Where to Find Tax Breaks for Your Home Based Business
April 15th looms in front of most people every year like a big, full moon full influencing a tax based frenzy, but knowing where to find tax breaks for your home based business can make that frenzy a little less frantic and more beneficial to you...
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The Biggest Temptation When Working At A Home-Based Business
From what I have seen and experienced, to quit is the greatest temptation during the first year of working at a home-based business. If smoking was like working at a home-based business, the occurence of lung cancer would be dramatically...
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