Legitimate Home Based Businesses

Question: Difference between Skype for Home and for Business?

What is the difference between Home and Business versions of Skype?

Please list it. Thanks.
I looked at the site, tells me nothing.

Answer: It appears that with the business version has some PBX-like features. Such as a main administer of skype credit that can assign skype credit to each computer within the office from a single point rather than having to login to each account individually. It alludes to having a single main phone number for an office but it is not clear how calls to this number could be handled. A regular PBX might distribute these calls to any available phone in the office, excess calls might go to voice mail or be put on hold for an available phone.The web site does not explain the possible options (if any) that skype business supports.

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Question: Should I write a business plan if revenues will no be in the thousands?

I am a start-up business baking pastries and cakes in my home. I have seen sample business plans and my business does not have a projected revenue yet. I am told by others write a business plan. All of the plans I have seen have large financial projections.

Answer: You will need a business plan if you will use it to:

- Support a loan application
- Raise equity funding
- Define objectives and describe programs to achieve those objectives
- Create a regular business review and course correction process
- Define a new business
- Define agreements between partners
- Set a value on a business for sale or legal purposes
- Evaluate a new product line, promotion, or expansion

You will get a lot of advice that a business plan is needed.

However, what you need is the process that a business plan entails -- that is, the process of thinking through the business.
It will help if you follow the outline of a business plan -- e.g. defining your business, determining your unique selling proposition, identifying your target market, determining how you will market the business, knowing how much you need to launch the business successfully.

If you will not use it to apply for a loan or find an investor, you need not write your business plan.

There was an article from the Wall Street Journal that questioned whether a startup really needs to write a business plan and this is one of the studies they found http://startup.wsj.com/columnists/enterprise/20070110-spors.html

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A study recently released by Babson College analyzed 116 businesses started by alumni who graduated between 1985 and 2003. Comparing success measures such as annual revenue, employee numbers and net income, the study found no statistical difference in success between those businesses started with formal written plans and those without them. The study concludes that "unless you need to raise external start-up capital from institutional sources or business angels, you do not need to write a formal business plan."
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You don't need a written formal business plan to succeed. However, you need to understand your business and know how to navigate the market in order to succeed

Paths to Profit: Unlimited Income, Learning from Successful Entrepreneurs

Question: i am an individual having huge loans in uae. now im completly bankrupt, but i want to repay:? pls advice?

i have loans amounting to 450,000 in dubai through various credit cards and personal loans. recently i suffered huge losses in some business in my home country. i am employed in dubai and my monthly salary is Dhs8000/- but my monthly emi's comes to around 18,000/-. kindly if someone can advice if it is possible for banks to reduce amount of montly emi's so that i can repay them. pls advice. thanks.

Answer: This is a question for an attorney. Also it might help to contact each of your creditors personally, in person or by mail (no email). Contact a senior loan officer, if possible, explain your case and tell them that you want to repay your debts. Ask if they are willing to work with you on a repayment plan. Since you are employed and making payments, they might be willing to do this rather than having to write off your debt as a loss. But first contact an attorney who specializes in bankruptcy law or financial law, etc., or a certified credit counselor.

How to start a "legal home business" in DUBAI