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Readying for Take-Off: the Home-Based Business

May 3rd, 2007 by rosie · No Comments

Before you open for business, it’s vital to do the necessary preparation. Here are some to-do’s to get your home-based business ready for take-off.

1. Make a plan. It’s important for you to know what your focus is, so write a business plan. Even if it’s just for yourself, getting your thoughts down on paper will help you see your goals and what needs to be done to accomplish them.

2. Research the laws and comply. This will take a bit of research, but find out what you need to do to be in compliance with the law- city, state, and federal laws. Get the proper licenses, permits, and registration. You may need a reseller certificate. Check your zoning laws to make sure it’s legal for you to be running a business from your home. Define your business entity: is it a sole-proprietorship, or a partnership? Make sure you know if, how, and when to pay business taxes.

3. Get insurance. Determine if you need business insurance and begin coverage before you start. Depending on what type of business you will be operating, you may need property insurance, general liability insurance, and commercial auto insurance. Contact your local insurance agent or do online research and know how you need to be covered.

4. Prepare your workspace. Have your office and supplies ready and waiting. This includes a business phone, business cards, website, fax, and all your office supplies. When you do open for business, you need to be ready to go.

5. Set your schedule. You may not be open the traditional 9-5, but make sure you have a schedule so that you are available to your clients. Being accessible and reliable for clients is key to success.

The proper planning and preparations before you open for business could mean the difference between smooth sailing and a rocky (but preventable) rough start.

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