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Dads Working From Home presents: I’ve decided to start a home business. What’s the first step?
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Free Download - Dads Working From Home presents the fifth installment of the ten-part series, “The Ten Most Frequently Asked Questions About Starting A Home Business.” By Richard Knowles |
The 10 Most Frequently Asked Questions about Starting a Home Business #2: I've decided to start a home business. What's the first step?
We've all heard the old adage, "the journey of a thousand miles starts with a single step." Our goal today is to insure that your first step isn't straight into the abyss.
Most books will tell you to create a lengthy, in-depth business plan, and that's fine if you're looking for a reason to procrastinate and put off the real work of getting started. The only justifiable reason to create a business plan is if you are trying to raise money via venture capitalists or a commercial bank loan.
Otherwise, don't worry about writing a formal business plan. All you really need is a simple, concise, HONEST "blueprint" to the road ahead. Here is what I recommend you include in your blueprint for success:
1. One simple sentence that clearly describes A), what the business does and B), who it intends to serve.
2. A breakdown of how your business will run from day to day. What exactly happens between "Open" and "Close?"
3. A detailed list of your responsibilities as the captain of the ship. After all, the buck stops here.
4. An equally detailed list of the responsibilities of your employees, partners, etc. Good fences make good neighbors.
5. A realistic estimate of how much it will cost to operate the business for the first fiscal year. Be brutally honest with yourself here.
6. Finally, write in detail how you plan to cover the costs of running your business the first year? In other words, where is the money coming from? Sales? Savings? Both? Be clear - this is no time for blind optimism.
While there is much more ahead, it's important to keep in mind that the foundation is the most important part of any structure. Take care of the six steps above and your odds for success will be greatly improved.
Dads Working From Home presents Ive decided to start a home business Whats the first step - To learn more about this author, visit Richard Knowles's Website.
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Bryan GarnerI am a Veteran of the United States Marine Reserve and retired as a Sergeant of Marines. I was deployed to Fallujah, Iraq, in 2006, and Ramadi, Iraq, in 2008. I have been working at Credit Alliance Group Financial Services company since 2007. I have had the opportunity to work in all the departments and have a real understanding on the key business concepts and how it all works. I enjoy helping people out with their debt problems and providing them an honest outlook on all their options, not just here with us. I believe if you have a good product, why not stand behind it and also show what your competition has to offer and let the consumer decide. - Visit Bryan Garner's Website |
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Leanne Hoagland-SmithExecutive consultant, sales coach and speaker, Leanne Hoagland-Smith, partners with innovative and crazy busy leaders who want to dramatically improve their team results. What this looks like differs for each firm and why a free strategy session is offered just by calling 219.759.5601 CDT USA to have a conversation about the results you are seeking. If you prefer you can forward a request to coach@processspecialist.com Her book, Be the Red Jacket is a no-nonsense and quick read to help discover potential gaps that may be keeping you from your goal to increase sales. The forward is by Evan Carmichael of EvanCarmichael.com Remember if you think you cannot or you think you can either way you are right. (Henry Ford). Sales Coaching Tip: Change your thoughts; improve your results. - Visit Leanne Hoagland-Smith's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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