Choosing Your Business
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Transcript of Choosing Your Business
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Terms and Conditions
LEGAL NOTICE
The Publisher has strived to be as accurate and complete as possible
in the creation of this report, notwithstanding the fact that he does
not warrant or represent at any time that the contents within are
accurate due to the rapidly changing nature of the Internet.
While all attempts have been made to verify information provided in
this publication, the Publisher assumes no responsibility for errors,
omissions, or contrary interpretation of the subject matter herein.
Any perceived slights of specific persons, peoples, or organizations
are unintentional.
In practical advice books, like anything else in life, there are no
guarantees of income made. Readers are cautioned to reply on their
own judgment about their individual circumstances to act
accordingly.
This book is not intended for use as a source of legal, business,
accounting or financial advice. All readers are advised to seek services
of competent professionals in legal, business, accounting and finance
fields.
You are encouraged to print this book for easy reading.
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Table Of Contents
Foreword
Chapter 1:
Home Based Business Basics
Chapter 2:
Decide What Your Interests Are
Chapter 3:
Decide What Your Strengths Are
Chapter 4:
Decide On Your Financial Needs
Chapter 5:
Decide If You Will Work Offline Or Online
Chapter 6:
Research Companies That Fit Your Interests And
Skills
Chapter 7:
Financing For Start Up
Chapter8:
Managing Your New Company
Wrapping Up
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Foreword
Starting a home business seems like a very exciting endeavor to
embark upon and for those who are already very enthusiastic about
the particular product or service they intend to offer, this kind of
commitment may not seem like such an enormous one to them.
However some caution should be exercised when actually starting the
home business, especially if it is done without careful thought and
planning it could end up being a costly mistake and an overall bad
experience. Get all the info you need here.
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Choosing Your Business
A Guide on Choosing the Best Home Based Business For You
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Chapter 1: Home Based Business Basics
Synopsis
The following are some points to consider before actually taking the
plunge into one’s own home business experience:
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The Basics
Making sure there is a market for the intended home business feature
is important. There is little point of setting up a home business based
on a service or product that does not have a market as people are
generally not interested in what is being offered. Therefore some time
and effort should be exercised to ensure the intended elements are
marketable.
Consider the importance of having a separate space that is sole used
for the home business. Working within this designated space would
help the individual focus better and also keep boundaries evident for
others to be aware of. The mental and physical positive points to
having this designated space cannot be emphasized enough.
Investing in proper equipment for the home based business is also
another important factor to consider. Lacking in this area would only
end up costing the individual further when these interruptions add
cost to the overall business entity even before substantial profits are
evident.
From a legal point of view all the necessary documentation and
licensing regulations and requirements, should be adequately perused
and approved before embarking on the home business venture.
Nothing is worst than incurring the wrath of various governing
agencies when proper procedures have not been followed.
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Chapter 2: Decide What Your Interests Are
Synopsis
Staring a home based business along the lines of the individual’s
interest is something to consider as it would be a huge contributing
factor to the eventual success of the business.
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What Is It
Deciding to do something that one is good at or interested in
creates the ideal mindset that will help to keep the business afloat
if during difficult times and this is a very important motivating
factor for those going into this kind of business venture.
As there is really no one to spur the individual to press o, the
interests’ factor is what can ensure the desire to succeed stay
prevalent always.
When a home business is built around an individual’s interest
there is also the added advantage of the individual having the
necessary knowledge about the choice made that will help to steer
the business exercise in the right direction.
Going in blind will not be an issue, and good decisions can be
made simply based on the knowledge that comes from the interest
in that particular area.
Also in doing something that one enjoys and likes very much the
evidence in the quality of the work being produced will be very
visible.
When there is a level of excitement around the business
environment it can not only be a positive element but can also help
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the create the ideal work mindset and physical conditioning that
dictates eventual success no matter what the challenges are.
Most people who venture into the home business based on their
interest have been statistically proven to be able to make a success
of the endeavor.
Making the experience come forth as pleasurable rather than just
“work” is often what keeps the individual able to come up with
further ideas that will also positively contribute to the innovation
of the business, thus keeping it relevant and vibrant at all times.
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Chapter 3: Decide What Your Strengths Are
Synopsis
Being able to identify and tap into one’s strengths is a very positive
and advantageous thing to be able to do.
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What’s Your Best Stuff
The energy one is able to harness from this is immeasurable and
often in the single most important factor that contributes to the
success of any endeavor undertaken.
Using these strengths to further develop one’s natural skills and
then leverage it to one’s benefits is also another advantage. The
individual will be able to eventually downplay or repair any
apparent weaknesses along the way.
Traditionally people often tend to focus on the negative elements
and in the process of this; they try to make the necessary
adjustments to combat this negativity.
However is doing so, there is the possibility of paying too much
attention to this and forgetting to tap into the positive elements
that are brought on by the thorough understanding of one’s
strengths.
Thus instead of harnessing and capitalizing on one’s strengths,
energy is being wasted on correcting weaknesses which will
eventually cause valuable time and resources to be wasted.
Capitalizing on one’s strengths will bring forth the highest
potential in the individual and offer the platforms to expand and
explore further avenues to shine and be productive.
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Taking the time to actually explore the various interests that excite
the individual would be one way of specifically identifying the said
individual’s strengths.
This can be done in a number of ways such as observing what
excites the individual, what creates the willingness to extend help
even when the circumstances is deemed not likely to improve,
being able to identify what sort of activity will most likely attract
the interest and commitment of the individual, where and when
the individual is most likely to contribute mentally or physically
and any other such scenarios that would cause the individual to be
more approachable and more likely to be contributive.
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Chapter 4: Decide On Your Financial Needs
Synopsis
There are several connective reasons as to why people venture into
starting up their own home based businesses. Amount the most
popular reasons is the interest in making some extra money. Money
making intentions for staring a home based business enterprise, is a
very effective and innovative way of applying one’s skills and
expertise to good use.
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Money
For some this need may be a dominant factor in ensuring they have
the means to survive and life comfortable without having to resort to
negative resource like loan and such.
While for others it may simply a means of earning that extra cash to
create a comfortable earning base for the little enjoyments in life
outside the current necessary commitment brackets.
Either way starting a home business can cater comfortably to any
financial need if the necessary effort and commitment is evident.
Once the financial need is properly indentified the individual can
effectively work towards addressing and achieving this need.
The element of control is then in the hands of the individual and this
can be a very important motivation tool to tap into. The control factor
which lies in the hands of the individual will then dictate the type,
style, platform, dedication levels, and any other connective elements
to the revenue earning capacity of the business endeavor chosen.
This control element will also dictate the level of commitment the
individual is interested in investing into the business entity for the
desired achievement of the financial need first established.
If the financial need identified is significant, then it is more likely that
the individual will be more willing to go into the home based business
with an almost unwavering dedication to ensuring the success which
is needed to fulfill the financial need.
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Having a clearly defined financial need will be instrumental in
dictating the eventual commitment levels willing to be invested in the
business entity.
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Chapter 5: Decide If You Will Work Offline Or Online
Synopsis
There are several different options for an individual to choose from
today, when intending to venture into the home based business
exercise. However the type of business chosen will in some way create
the necessity to only use selected types that are most suited to the
particular choice made.
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Which Way
Working online and working offline entails very different and often
conflicting elements. Therefore when deciding to chose either option
one should be well informed of the advantages and disadvantages of
both styles. The following are some points that could be enlightening:
Online businesses have the capacity to be limitless when it comes to
being able to reach the target audience anywhere and everywhere.
There are also no time constraints and this is of course convenient for
the merchant operating the business in one part of the world while
trying to reach a customer base in the other part of the world.
Online businesses also do not really require expensive advertising
campaigns and propaganda tactics as the various tools available on
the internet can be explored and exploited to ensure optimum
advertising opportunities at minimal or no costs at all.
In most cases online marketing styles do not require extensive office
space and a battalion of staff to go with it. A lot of the work can be
done electronically thus effectively saving time, space and manpower.
This of course is another cost effective contribution to the overall
business entity.
All of the above applies to the offline business in the opposite way.
Thus for some using the offline option may not be as viable as idea as
first perceived.
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However there are some advantages to using the offline platform
which would be the very real feel of actually operating a business.
This visibility both for the individual and for those around can be a
very profound and domineering feature indeed.
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Chapter 6: Research Companies That Fit Your Interests And Skills
Synopsis
In order to make the right choices when it comes to stating up a home
business endeavor one should first understand the market sentiments
and what and where there are companies that fit the interest and the
skill intended to be offered for services are located and what the
expectations are. This is critical to ensuring the elements that relate
to the interest and skill are well tapped into to bring forth optimum
results.
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Check In To It
Perhaps among the first steps to be taken would be to analyze the
skills and interest of the individual and then using this to gauge the
lucrative aspect and contribution of the choices made.
By doing this it is hoped that the ideal match would be made to match
the skills and interest with the selected business endeavor for
successful results.
The likelihood of experiencing problems that would stall the business
will be much less if there are relevant skill to be tapped into whenever
the situation call for it.
To enhance the prospects of attracting the attention of organizations
which would be interested in using the expertise offered by the home
business entity, the individual would have to ensure the existing skills
are impressive and adequate enough to suit the company’s needs.
Keeping up to date within the particular field, would help the
individual better assess the current market trends, and thus be able to
identify areas where his or her particular skills would be needed and
appreciated.
As there are many companies now ready to outsource their work load,
being visible in providing the relevant skills needed by the company
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would help the individual to attract contracts and other work
opportunities for the home business set up.
This visibility will also help to create a present for the business entity
for any future job opportunities.
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Chapter 7: Financing For Start Up
Synopsis
Capital or lack thereof is always the most dominant issue when it
comes to financing start ups. There are several sources of getting this
financial assistance but most of the time it is not as easy to acquire
such financial assistance without the relevant skills to do so.
Raising capital is the most basic of all business activities that often
take up a huge amount of time and effort especially if the intended
business is home based in nature.
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The Cash
Raising the desired capital can be done through several legally
acceptable channels, and choosing any one of the many available
sources, would help get the business started up quickly and
conveniently.
Being able to obtain and secure financing through various
monetary establishments such as banks, financial houses,
mortgages and many others is one option available for anyone
wanting to embark upon the home business experience.
However some of these institutions are be very demanding is
requesting the relevant accompanying documentation, skills,
knowledge and expertise be of a certain standard.
Families and friends are another good option to look into when
looking for financing for the home based business. These sources
have been a rather popular choice when it comes to getting help
without too much hassle which the bigger and more established
lending institutions seems to demand.
However, here too there maybe some points that one needs to
consider, so that there are no unwanted problems arising from this
arrangement.
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Choosing the right person to approach for the financing help is
important and the best type would be one who is willing to invest
without actually wanting to take an active part in the daily running
of the business.
Whichever financial assistance is sought the individual should first
ensure that all the relevant preparations have been done in order
to be able to address any questions and queries that the potential
investor may ask.
.
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Chapter 8: Managing Your New Company
Synopsis
There are several tried and true methods that can be successfully
adopted to ensure this positive end is guaranteed.
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The Methods
The following are some elements to consider when embarking on the
task of managing a new company:
Leading the company in the direction of success should be a
dominant feature constantly at the forefront of any decision making
process.
Effective leadership even if it is to be applied to just the individual
itself should not be underestimated for its effectiveness. This
characteristic will be the overall deciding factor in the capable
running of the business entity.
Growing the business is another important element to consider right
from the start of the new business endeavor. Simply concentrating on
getting the business up and running is not nearly enough in the quest
to get it to the successful platform where revenue earnings are
phenomenal.
Having all the future plans well outlined and ready for
implementation at the right intervals would be beneficial especially
when time is of the essence. Planning such maneuvers only when
called for would be very unwise indeed.
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Being prepared for all possible eventualities is also another good
point to consider. This will help to keep the new business on track as
opposed to having it fall apart at the first sign of a challenge.
The general structure of the business entity should be well thought
out and in place so that any positive additions can be considered
without too much fuss or disturbance to the original setup.
Within the managing plans for the new company there should also be
a format in place to the future expansion possibilities that would take
the business endeavor global. Being prepared to tap into the global
market should be included in the new business future plans.
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Wrapping Up
Having a vision for the new business entity and wanting to achieve it
within a desired time frame is always a good place to start when
addressing the managing side of the said business. Hopefully this
book has given you a start.