BASIC TIPS TO HELP YOU START YOUR OWN BUSINESS
PICK A BUSINESS YOU WILL LOVE:
In searching for the right business to start make sure you choose somethingthat you love to do. You will be spending a lot of time making the businesswork, so you must enjoy what you do. There are probably business ideas thatwill occur to you that would do well in your community, but if you don't lovethat particular type of business, skip that idea and keep thinking. Findsomething you love to do and then figure out how to get paid to do it.
MAKE A LIST OF HOBBIES, TALENTS &INTERESTS:
In researching the type of business you'd love to start, make a series oflists of what you're interested in and see what you're good at. Are there arecommon denominators? Do you like sports, pets, fixing things? What types ofbusinesses could you start that relate to your interests? An individual wholoves parties and music might want to consider starting a mobile DJ service.
CHECK OUT ZONING RULES:
Communities have really relaxed their rules on residential and commercialzoning now that so many people are working from home. But if your home basedbusiness means that you'll have to have huge trucks delivering goods, thenbeware, your neighbors might not like it and might turn you in to the localauthorities. You will not be able to set up a restaurant at home or a drycleaning business or a commercial parking lot right on your front lawn. To findout about local zoning laws, call your town office and county clerk's office.
REGISTER YOUR COMPANY:
Take a trip down to your county clerk's office and register your name. Youwill receive a Business Index number and can then use that Business Indexnumber to open a business checking account.
ESTABLISH A PROFESSIONAL IMAGE:
Most of your customers might never see your home office, so impress themwith your professionalism and attention to detail by selecting a good lookingstationery system consisting of high-grade letterhead and business cards. Get aseparate phone line so no one answers the phone and just says,"Hello," which could turn off potential customers. Get a fax machine,an answering machine or voice mail and you are in business!
CHECK OUT YOUR INSURANCE COVERAGE:
Examine your insurance policy to see if you need to beef up your liabilityinsurance or add on any other type of coverage. There are many add-ons toconsider including: business interruption insurance, business propertyinsurance, disability insurance, non-owned auto insurance, product liabilityand much more.
GENERATING BUSINESS:
Print up a flyer, get involved in local clubs and other networkingopportunities, send out a press kit to local newspapers, prepare a direct mailpiece, try and place yourself as a guest --an expert--on local TV or cable,investigate advertising, become active in local civic groups and associations,offer to give a speech at a local club or gathering, send out discount coupons,send out holiday greeting cards, teach a class at adult education, attend tradeshows as a guest or exhibitor. All of these methods will help you generatebusiness and customers.
ACCOUNTING FOR SUCCESS:
Even though you might not plan to do your own taxes--and we do endorse thenotion that you visit a professional accountant for tax assistance--it's a goodidea to get a grip on basic accounting principles and bookkeeping skills. Lookinto a local adult education course, browse through bookstores and find a"how to" manual or enroll in a local community college, but get alittle accounting help under your belt.
