Sunday, February 15, 2009

Home Business Success

Home Business Success - 3 Major Things to Remember Before You Launch Your Home Business

With the advent of Web 2.0, starting a home business has become easier than ever before. You could set up your own little store website in as quickly as an hour and there are methods available for you to make your products or service available to the world. But before you rush into this whole affair, here are three key things that you should know about starting a home business.

1. Keep Your Capital Separate

Don't put the money for your business in the same pocket as the money you use for paying bills and maintaining your home. Keeping it separate limits your liability should your business eventually go bust. Otherwise, you could keep on paying overheads using the cash that should've been for the utilities and this could land you in even worse straits than a mere flopped business.

2. Be Clear About What You Are

It's so easy to move between offering one product or service to the next. But while that might make you reach out to a very wide market, you are not making the most out of your core competence or your primary product. If you can produce handmade notebooks, for example, sell handmade notebooks. There'll be more opportunities to expand your product range once you've grown your business a bit.

3. Start Small

As lucrative as rushing into the big markets might sound, it's just not that feasible for you yet. You are still too new to be trusted with big transactions, and chances are you may not yet have the necessary resources to deliver that kind of volume. Make small transactions first, building up a solid clientele along the way.

Starting a home business is a very big thing, to be sure. Just never forget to keep things in perspective and to always bite off just what you can chew.

Fabian Tan is a well-known Internet Marketing expert and the author of the popular 59-page Report:

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1 comment:

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