Legitimate Home Based Businesses

Posts Tagged ‘productivity’

Question: Does anyone know a Home Based Business that actually works and brings in good income?

I am having problems finding a actual job and I have a 19 month old son. My wife finally found a job but for some reason I am not having any luck at all finding one. If anyone has been having great success with a Home Business PLEASE HELP.

Answer: You can only obtain legitimate work from home positions from brick and mortar companies.

You want to send your resume out to companies hiring for positions you are qualified for, but include in your resume that you have a home office and you wish to work remotely. Include how you have your home office set up and what equipment you already have in order for you to perform your job.

These jobs are just going to advertised as jobs, they would not promote them as "Work at Home" because they would hear from too many unqualified people.

"Carbon Copy Pro" "Home Business" Success

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'm planning on asking my grandfather to invest in my new business venture. Any advice?

I'm starting a home-based life and health insurance brokerage and I'll also offer wealth management services. My overhead will be low, but I want to invest some start-up capital in additional training for myself, as well as marketing my business. The main concern I have is that my grandpa invested $20k in my dad's failed business over 20 years ago, and it's made holiday gatherings very awkward. I plan on paying back the capital I need to start ($6500), but it may take 3 years or more if the business starts more slowly than I anticipate. 1) How should I go about requesting start-up funding?; and 2) If it's granted, how should I set up the repayment arrangement? As a loan, or should I give the investor a stake in the company? What are the legal ramifications of the latter since he is not licensed to sell life and health insurance (is it considered sharing commission if he receives income from the business)?

Answer: You should NEVER ask a family member to invest in your business. If he offers an investment, that's a different scenario. Why would you put your grandfather in the position of having to say "No" if he is uncomfortable with investing in your venture ?

Find your capital investment funding elsewhere and leave dear old Grand Dad out of the picture unless he makes an offer to assist you.

XU Cheerdance 2008 - School of Business and Management (SBM)