Making the leap from a corporate environment to a home based business can be exhilarating and terrifying all at once. The shift isn’t a small one so any planning on your end before you make the big “move” is highly recommended. If you can prepare financially, physically, mentally, and yes, even emotionally, you’ll be ahead of the game.
1. Finances – Being financially ready is fundamentally essential when starting a home based business. Yes, it’s a no brainer, that’s true. But, preparing for advance costs from new company legal work (DBA, LLC, trademark, etc.) to furniture to electronics, will keep you from getting financially frustrated down the road.
2. Health Care – Leaving a full time, corporate gig means you’ll also be leaving your company provided health care insurance. Make arrangements beforehand to alleviate any unforeseen insurance issues once you start your residual income home business.
3. Atmosphere – A major environmental change takes place when you start working from home. Your work friends are no longer around, the local bagel guy isn’t delivering to your home office and your current lunch meetings come to a complete stall. In other words, the people you’ve come to rely on for everyday office company are no longer there. To keep from feeling lonely or out of touch, make lunch plans with a friend or colleague, or grab your computer and work from your local coffee shop or bookstore. There are various ways to keep from getting the home office blues.
4. Planning – Being your own boss is definitely a step in the right direction to residual income, but no one said it was easy. Distractions are everywhere and no one is looking over your shoulder to make sure the work gets done. It’s important that you become a planning fanatic when working from home. Establish regular business hours, create deadlines, schedule meetings and monitor your to-do lists. Knowing how to effectively be your own boss will result in increased work flow.
Read more...
Wednesday, July 6, 2011
Wednesday, June 15, 2011
Overcome the Distractions of Working from Home
Tell someone you have a home based business and their mind immediately conjures up images of you lounging around the house, sipping your favorite drink and chit-chatting with your pals while barely breaking a work sweat. It’s no wonder that having a residual income home business brings with it its own unique distractions.
One of the most common beliefs is that since you’re working from home, you’re not really working. Fact is nothing could be further from the truth. Like every job, you don’t get paid unless you work and your home business is just that – a business. Let it be known that you’re running a business, not watching the last season of Lost on DVD.
Along those same lines, being that you’re home, your family and friends may get the impression that you’re constantly available to them. Your kids, spouse, girl/boyfriend see that you are physically present; therefore you should give them the attention they’re asking for. Your friends may drop by unannounced to simply hang out. This is where you have to draw some serious boundaries. If you explain that it’s important to have your time to work so that you can have time to play, and stick to that, they will eventually get it.
On the opposite end of the spectrum, working from home can feel somewhat lonely. You’re used to working in an office full of co-workers and now it’s just you. If you begin to feel cut off from the world, remind yourself why you started your home business in the first place and the perks of doing so. You can also schedule coffee or lunch sessions with friends or colleagues to get you out of the home office for an hour or so.
Lack of motivation can be a major obstacle to overcome for those who earn residual income. When you don’t have anyone nipping at your heels or encouraging you, it’s easy to get sidetracked, put things off and feel unmotivated. When these moments present themselves, give yourself a deadline to feel what you feel and then move on. Find ways to motivate yourself and forge ahead.
No one said working from home was easy. But, if you face your distractions head on, you and your business will be the better for it.
Read more...
One of the most common beliefs is that since you’re working from home, you’re not really working. Fact is nothing could be further from the truth. Like every job, you don’t get paid unless you work and your home business is just that – a business. Let it be known that you’re running a business, not watching the last season of Lost on DVD.
Along those same lines, being that you’re home, your family and friends may get the impression that you’re constantly available to them. Your kids, spouse, girl/boyfriend see that you are physically present; therefore you should give them the attention they’re asking for. Your friends may drop by unannounced to simply hang out. This is where you have to draw some serious boundaries. If you explain that it’s important to have your time to work so that you can have time to play, and stick to that, they will eventually get it.
On the opposite end of the spectrum, working from home can feel somewhat lonely. You’re used to working in an office full of co-workers and now it’s just you. If you begin to feel cut off from the world, remind yourself why you started your home business in the first place and the perks of doing so. You can also schedule coffee or lunch sessions with friends or colleagues to get you out of the home office for an hour or so.
Lack of motivation can be a major obstacle to overcome for those who earn residual income. When you don’t have anyone nipping at your heels or encouraging you, it’s easy to get sidetracked, put things off and feel unmotivated. When these moments present themselves, give yourself a deadline to feel what you feel and then move on. Find ways to motivate yourself and forge ahead.
No one said working from home was easy. But, if you face your distractions head on, you and your business will be the better for it.
Read more...
Wednesday, June 1, 2011
The Pros and Cons of Starting a Business with a Friend
About a year ago a friend of mine announced he was starting a home based business with his closest friend. He was extremely excited, and why wouldn’t he be? The two have known each other for years (college roommates, even) and trust one another implicitly. What could go wrong?
Starting a residual income home business is extremely exciting. Starting said business with a friend is a whole other kind of excitement. And, sometimes, not the good kind. It’s risky, complicated, rewarding, challenging and entertaining, and that’s just the first week. A business partnership with your best friend is not a decision to be taken lightly. As fun as it may sound, it’s important to weigh all the pros and cons before making such a commitment.
PRO
There’s an existing level of trust already established. It’s nice to know there’s someone you can count on when it comes to running a business. You rely on their decision making and know they have you and the company’s best interest at heart. A great confidante is priceless.
CON
You and your business partner friend don’t share the same work ethics. You may share similar passions for things on a friendship level but that doesn’t mean you approach work with the same gusto. When one of you starts to bear most of the workload, dedicates more time to making the business successful than the other, negative feelings are sure to surface.
PRO
Getting a residual income opportunity off the ground takes effort and money. Going into business with a friend and sharing financial responsibility helps to take the burden off one’s shoulders and sets the tone for true partnership.
CON
When you have a friend as a business partner, you tend to curb your feelings toward certain business aspects. In other words, if the two of you disagree on how to handle a decision or client, instead of standing by your decision, you may bend a bit as to not upset your friend. How you would normally do business goes by the wayside and that’s never a good thing. .
At the end of the day, business is business and friendship is friendship. Sometimes the two can make beautiful music together. Sometimes the tune can be way off key. Before entering into any type of partnership with a friend, know the pros and cons of doing so. Great friends are hard to find, and even harder to replace.
Read more...
Starting a residual income home business is extremely exciting. Starting said business with a friend is a whole other kind of excitement. And, sometimes, not the good kind. It’s risky, complicated, rewarding, challenging and entertaining, and that’s just the first week. A business partnership with your best friend is not a decision to be taken lightly. As fun as it may sound, it’s important to weigh all the pros and cons before making such a commitment.
PRO
There’s an existing level of trust already established. It’s nice to know there’s someone you can count on when it comes to running a business. You rely on their decision making and know they have you and the company’s best interest at heart. A great confidante is priceless.
CON
You and your business partner friend don’t share the same work ethics. You may share similar passions for things on a friendship level but that doesn’t mean you approach work with the same gusto. When one of you starts to bear most of the workload, dedicates more time to making the business successful than the other, negative feelings are sure to surface.
PRO
Getting a residual income opportunity off the ground takes effort and money. Going into business with a friend and sharing financial responsibility helps to take the burden off one’s shoulders and sets the tone for true partnership.
CON
When you have a friend as a business partner, you tend to curb your feelings toward certain business aspects. In other words, if the two of you disagree on how to handle a decision or client, instead of standing by your decision, you may bend a bit as to not upset your friend. How you would normally do business goes by the wayside and that’s never a good thing. .
At the end of the day, business is business and friendship is friendship. Sometimes the two can make beautiful music together. Sometimes the tune can be way off key. Before entering into any type of partnership with a friend, know the pros and cons of doing so. Great friends are hard to find, and even harder to replace.
Read more...
Tuesday, May 3, 2011
Must-Have Apps for Your Home Business
Ah, the freedom of having your own home based business. Wow, the marvel of not having to be chained to your desk at all times. Ooh, all the apps you’ll need now that you’re a mobile business wunderkind. Here are five applications sure to get your residual income home business off to a running start:
1. Dropbox – Although this application is free, it’s nothing short of priceless. It allows you to synchronize files, photos and videohttp://www.blogger.com/img/blank.gif between computers. Just save your file in Dropbox and it automatically saves that same file on your home computer, iPad and iPhone. It’s like taking your home office with you wherever you go.
2. Bump – Like the name says, all you’ve got to do is “bump” your iPhone or Android with someone else’s and you instantly exchange contact information between the two users. It’s a virtual business card that saves time, hassle and money.
3. Evernote – For every mental note, be it an idea, inspiration, insight or to-do list, the Evernote app is there capturing it all. It also helps you organize all of your random thoughts and photos while providing easy search tools to find every geius thought once it’s been recorded.
4. WhosHere – In need of a local printer in your area? Then send out a request on this proximity-based social networking app. You’ll be connected to professionals in your area based on your needs and contact them free of charge. Also comes in very handy when traveling.
5. Timewerks – For home based business owners, time is essential. Easily keep track of time spent on different projects, set separate rates for each task and create and send invoices straight from your phone with the incredibly smart Timewerks app. Perfect for those wanting to build residual income.
Read more...
1. Dropbox – Although this application is free, it’s nothing short of priceless. It allows you to synchronize files, photos and videohttp://www.blogger.com/img/blank.gif between computers. Just save your file in Dropbox and it automatically saves that same file on your home computer, iPad and iPhone. It’s like taking your home office with you wherever you go.
2. Bump – Like the name says, all you’ve got to do is “bump” your iPhone or Android with someone else’s and you instantly exchange contact information between the two users. It’s a virtual business card that saves time, hassle and money.
3. Evernote – For every mental note, be it an idea, inspiration, insight or to-do list, the Evernote app is there capturing it all. It also helps you organize all of your random thoughts and photos while providing easy search tools to find every geius thought once it’s been recorded.
4. WhosHere – In need of a local printer in your area? Then send out a request on this proximity-based social networking app. You’ll be connected to professionals in your area based on your needs and contact them free of charge. Also comes in very handy when traveling.
5. Timewerks – For home based business owners, time is essential. Easily keep track of time spent on different projects, set separate rates for each task and create and send invoices straight from your phone with the incredibly smart Timewerks app. Perfect for those wanting to build residual income.
Read more...
Thursday, March 31, 2011
Wanted: College Grads Living and Working at Home
You’ve just graduated! The sky’s the limit, the world is your oyster, the gravy train is leaving, and your parents just called to say dinner is in the oven and remember to walk the dog when you get home.
Unfortunately today’s college graduates are finding their hopeful career path is undergoing construction… indefinitely. At a time when the doors of opportunity should be opening up, it’s the familiar door of your childhood home that’s swinging open. Affected by the struggling economy, high unemployment, cutbacks, and mounting student loans, a majority of graduates are moving back home immediately after graduation. They’re called “boomerangers” and they’re also calling their new roomies “Mom” and “Dad.”
A recent survey conducted by CollegeGrad.com indicated 80% of college students moved back home after graduating. This is an increase of 17% from 2006. Out of the 2,000 students surveyed, seven out of ten stated they would continue to reside at home until they found a job.
It’s not uncommon to move back in with your parents after graduating college. For some, it can be extremely comforting to know living expenses are one less thing to worry about. Most parents realize obtaining a college degree no longer promises immediate employment in your chosen field of study. And, unless you have a job lined up for you after graduation, moving back home is the only option.
Now, the thought of living at home after school may not sound like the idyllic situation, but the scenario doesn’t mean you have to give up your independence, or even wait for the ideal job. In fact, this is the perfect opportunity to begin a home based business.
There is no better way to earn extra money than while living at home. Most expenses are already covered so any extra income you make can go right into your pocket. Chances are you already possess the essentials for a residual income home business: a smart, marketable idea, office/desk space, a telephone, a computer, and a lot of determination. There is a ton of information online and at your local bookstore to aide you in building your home business. Don’t be afraid to dive in head first. Who knows? Your residual income opportunity could pay off your dreaded student loans or even catapult you onto another career path that’s open for business.
Read more...
Unfortunately today’s college graduates are finding their hopeful career path is undergoing construction… indefinitely. At a time when the doors of opportunity should be opening up, it’s the familiar door of your childhood home that’s swinging open. Affected by the struggling economy, high unemployment, cutbacks, and mounting student loans, a majority of graduates are moving back home immediately after graduation. They’re called “boomerangers” and they’re also calling their new roomies “Mom” and “Dad.”
A recent survey conducted by CollegeGrad.com indicated 80% of college students moved back home after graduating. This is an increase of 17% from 2006. Out of the 2,000 students surveyed, seven out of ten stated they would continue to reside at home until they found a job.
It’s not uncommon to move back in with your parents after graduating college. For some, it can be extremely comforting to know living expenses are one less thing to worry about. Most parents realize obtaining a college degree no longer promises immediate employment in your chosen field of study. And, unless you have a job lined up for you after graduation, moving back home is the only option.
Now, the thought of living at home after school may not sound like the idyllic situation, but the scenario doesn’t mean you have to give up your independence, or even wait for the ideal job. In fact, this is the perfect opportunity to begin a home based business.
There is no better way to earn extra money than while living at home. Most expenses are already covered so any extra income you make can go right into your pocket. Chances are you already possess the essentials for a residual income home business: a smart, marketable idea, office/desk space, a telephone, a computer, and a lot of determination. There is a ton of information online and at your local bookstore to aide you in building your home business. Don’t be afraid to dive in head first. Who knows? Your residual income opportunity could pay off your dreaded student loans or even catapult you onto another career path that’s open for business.
Read more...
Subscribe to:
Posts (Atom)
