Tips to Starting a Home Business

Tips to Starting a Home Business Running your own business from home has a real charm to it. You’re your own boss.

10. RAMP UP YOUR TECH SKILLSWhen you work for yourself, there’s no tech support person to call when things go haywire. C...
08/06/2022

10. RAMP UP YOUR TECH SKILLS
When you work for yourself, there’s no tech support person to call when things go haywire. Consider taking a computer class at a community college or, if you’re a Mac user, at an Apple store in your neighborhood. If you need to give presentations, you should become conversant with web-based meeting programs such as GoToMeeting, Cisco WebEx, Join.Me, TeamViewer, Zoom or Google+ Hangouts.

9. SPREAD THE WORDLearning how to promote yourself is a lynchpin for success. In addition to having a LinkedIn page, con...
08/06/2022

9. SPREAD THE WORD
Learning how to promote yourself is a lynchpin for success. In addition to having a LinkedIn page, consider having Facebook, Instagram, Pinterest and Twitter pages for your business. Check out competitors to see which networks they use professionally. Photographers, for example, often showcase their work on Instagram, while Pinterest is popular with people selling consumer goods such as jewelry and glassware.

8. NETWORK ELECTRONICALLYGet active in LinkedIn groups that relate to your industry and clients. Make posts and comment ...
08/06/2022

8. NETWORK ELECTRONICALLY
Get active in LinkedIn groups that relate to your industry and clients. Make posts and comment on posts by others. This will display your expertise and give you a feeling of being connected to a community. Check out this post on ways to improve your LinkedIn profile.

7. DON’T OVERLOOK THE HUMAN TOUCHWorking at home can prevent you from developing workplace relationships and doing face-...
08/06/2022

7. DON’T OVERLOOK THE HUMAN TOUCH
Working at home can prevent you from developing workplace relationships and doing face-to-face networking for new clients. Push yourself to get out of the house regularly for lunch or meet with prospective clients or colleagues for coffee. And go to industry conferences. At the very least, make it a point from time to time to make a phone call instead of zapping off an email or text.

6. FIND A MENTORWorking solo can be isolating. Sometimes you’ll need a professional to tap for some advice. Look for a m...
08/06/2022

6. FIND A MENTOR
Working solo can be isolating. Sometimes you’ll need a professional to tap for some advice. Look for a mentor among your industry connections. This relationship can take time to build, but it’s worth it.

5. Establish a work scheduleIt’s easy to get drawn into work filling every waking hour. You must be disciplined, manage ...
29/05/2022

5. Establish a work schedule
It’s easy to get drawn into work filling every waking hour. You must be disciplined, manage your time well and be a self-starter. Set daily work hours and do your best to adhere to them. That’s easier said than done, but burnout will do nothing to boost your business.

4. Set aside a precise place for workYou should be able to take a tax deduction for 100 percent of costs directly relate...
29/05/2022

4. Set aside a precise place for work
You should be able to take a tax deduction for 100 percent of costs directly related to your home office, such as the purchase of a work computer or printer toner.

The other kind of tax-deductible home office expenses are “indirect” ones that are prorated, based on the size of your home and office. These are things like your mortgage or rent, insurance and utility bills. Many people with home offices skip the tax break because they’re concerned the write-offs will trigger a tax audit. That’s unlikely.

3. Don’t ignore the IRSYou will need to pay estimated federal taxes on business income each quarter, instead of once a y...
29/05/2022

3. Don’t ignore the IRS
You will need to pay estimated federal taxes on business income each quarter, instead of once a year on April 15. Depending on the location of your business, you may be required to pay state and local income and business taxes, too. Go to the IRS Self-Employed Individual Tax Center to learn how to pay the federal taxes. You may also want to consult with your accountant.

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