Navigating Through The Home Based Business World | The Board ...

By Casie Fuchs

While a home-based business may sound like a luxury you simply can?t afford, there are actually many considerations to take into account, other than the short commute from your bedroom to your home office. Just like any other job, a home business has its benefits, as well as its drawbacks. The following article provides you with all the information you need to decide if a home-based business is for you.

When preparing tax statements for your home business, don?t put down any deductions that you feel you can?t uphold. If you can?t prove it on paper in your tax file, you certainly won?t be able to prove it with a tax auditor breathing down your neck. If it doesn?t feel right, don?t take it.

Keep a mileage log for your business driving. With a home business, you might find yourself driving to meet clients or suppliers, delivering orders or traveling to boutiques and trade shows. The IRS allows a write-off for business mileage, at about 34 cents per mile. That adds up! Check IRS.gov for the current year mileage allowance.

Turn a room of your house or apartment into a home office. Then, write it off on your taxes as a business expense; calculate the value by determining what fraction of your space the office takes up, and writing off that fraction of your rent/mortgage and utilities. The good work space will help you get organized, and careful calculations are necessary in case you are ever audited.

In order to be successful and make solid money with a home business you must be very self motivated. Being able to motivate yourself is the number one quality you need to have in order to succeed at a home business. You have to be able to set your own work hours and deadlines, along with being willing to work hard when you are not seeing any type of return.

Use your web site to advertise a free product for visitors. This will increase traffic on your site and give potential customers the ability to sample your product. Although it may cost a little money in the beginning, you should make up for it in sales from impressed new customers.

In order to be successful with your home business, you will need to have various skills and be able to fulfill many roles. Some of the areas you are going to be involved with are management, bookkeeping, customer support, and marketing. However, it is not necessary to be great in every single one of these areas. For example, if you are not the best at giving friendly customer support, you can freelance a virtual assistant to help you. There are also many resources such as books to help you improve in an area you might be lacking, and as your business grows, you can hire consultants to take over entire sections of your business.

To ensure success advertise your business or service. Invest in your own business cards with your name and company logo on them. You can pass these out and post them on bulletin boards. Many colleges, coffee shops and even restaurants have bulletin boards that you can use to advertise your business. Getting the word out is key to your success.

The homepage of your business website should be an advertisement for your product. While this doesn?t mean you should go for over-the-top, flashy presentation, you should make sure your content points out why they want to explore your website. Convincing your customers to familiarize themselves with your product is the first step to convincing them to buy it!

Stay organized when you start a new home business. There are many books and websites to help you with organization when you are a business owner. Find out the software that you will need to keep your records straight and make a list of the things you may need to get to help you along the way.

To attract more traffic to the website of your home business, register your website with as many search engines as possible. Write a good description of it that will make people want to visit your website when it comes up in search results. Look into search engine optimization to promote your website.

Many home business owners tend to have health related issues because they generally get less exercise staying home and also overwork when the lines blur between life and work. At the same time, one of the major differences between being an employee at a company and running a home business is the lack of sick days. Because they run their own business, each day they might have to take off from getting sick translates directly into lost income. It is therefore vital that home business owners take extra care of their health through exercise, adequate sleep, and proper diets.

No matter the business you start at home, success will come from serving customers in the best way possible. You manage yourself; your business will prosper depending on your management skills. You must keep learning about managing your business. You will find that your home business will succeed in no time.

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Source: http://theboardmagazine.com/2013/07/navigating-through-the-home-based-business-world-6/

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