What you should consider at start-up:
There are several good record keepers such as Day Timer®, Franklin Quest® and Day Planner that will help you keep track of your expenses in your home based business. Your accountant or a CPA is recommended and can advise you on deductions you can take and records you must keep for the IRS. Talk with them before or early on in your business so that you are starting your record keeping off on a good track.
If needed for your type of business, when scheduling appointments with clients, consider meeting at your client's office or renting a conference room to maintain a professional image. Or learn the new up to date technology of conferencing on the computer. It is fairly easy and not expensive if you use the right services.
Keep excellent records of entertainment and travel expenses. The Internal Revenue Service (IRS) tends to audit home-based businesses more frequently—especially when they are writing off a variety of expenses, including the percentage of the mortgage or rent for your office space.
Set up a SAVINGS ACCOUNT for your home based business, remember keep it in a business LLC account. Build it up because when you least expect it, you will need it.
Set up your computer system, proper programs and decide who will handle your repairs and help as you need it. Check out their service and if possible talk to referrals. Do NOT just trust the Big Computer Stores to be there for you. You are usually not a person to them, just a broken piece of equipment and you go into the 'Q'. Trust me; a good computer person on your team is worth their weight in Gold. A good 2nd PC lap top that can multi task can be a life saver.
Discipline yourself. You must be a self-starter and follow a routine, just as if you were working for any other business. In many cases, you are the only person you can rely on to get the job done. Unless it's an emergency, do not baby-sit or chat with your neighbors.
Work at home or what you would call a Home Based Business is a popular way to run a small company. Working from home has so many advantages; my favorite is what I call the 2 minute commute! Seriously though, it dramatically decreases the start-up costs such as leasing a commercial business space, improvements, utilities and major office equipment expenses.
Work with a plan and plan to work. Every home based business worth having is worth working for. See You at the TOP!
Tana Hamiter - Goes Green Mentor
1-888-234-2556
Skype Me: nancy.tana.hamiter
