For many years now, you’ve been dreaming of opening up your own business in the home. Something has been holding you back, but now those restraints are gone; you are ready to engage in this endeavor. What steps do you need to take to increase your risk of success?
From previous posts, you’ve learned that starting a home business is not expensive, competition is easy to find, and help is available from many sources. But what about revenue? I need to make money too! In this post, we provide a simple way of roughly calculating what your income needs are and compare them to expenses. Thanks to Jeff Williams of bizstarters.com for providing the general calculation example.
Considering a home business? Ongoing economic issues and technological advances have created an ideal environment for new entrepreneurs. Some recent start ups have experienced tremendous success: Facebook, Google, Twitter, and Pinterest are recent examples. Each company is a household name and a dominant in its market niche. Each also started in a small apartment or college dorm room, not in a huge office space with resources aplenty.
March 11, 2011 – When it comes to cash flow, small business owners often find themselves in a reactive cycle. Each month starts with the hope that they will come out ahead after payroll, inventory purchases, and other overhead. When that happens, all is well with the world. On the flipside, when they come up short, panic blankets the business as the owner frantically scrambles to make ends meet. This cycle can prove exhausting and demoralizing
Many entrepreneurs leave a secure job to run a business. When you do this, you move from earning a regular income to earning a more haphazard income, which can make personal budgeting difficult. The haphazard nature of business income is one of the risks of running a small business.