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Treat Your Home-Based Business Right

When working from home, it can be very easy to cut some corners and leave things out. Falling into this trap can be a huge error on your part and can cost you loss in profits and potentially even a loss of your business. Setting things up the right way will help you to build a strong foundation for your business to grow on.

Financial

Having a system for accounting in place for your business in imperative for success. Just like with your personal finances, you need to be able to account for the money coming in as well as for the money going out. Not only will this information be important for you, personally, but it will be needed come tax time. Another time that your financial documents will come in to play is if you need to prove the success of your business for loan purposes; business and personal alike.

Keeping track of your income and expenses does not mean that you have to go out any buy special software and then try to learn how to navigate through it all. Accounting can be done in just about any fashion that you are able to do. If you are computer savvy, you can get software that can ease the process of tracking your finances, there are plenty of programs that are already loaded on most computers, or an Excel spreadsheet can be used. If you are not comfortable with a computer, there is no reason why you can’t use the tried and true paper, pencil, and calculator. Regardless of what you use, make sure that you are comfortable using it so that you can maintain it.

Licensing

Not every business needs to have a business license, but many do. Before you begin anything where money is trading hands, find out if you need a license to do business. Do not operate your business without a license if one is required as you will then be liable for anything that may go wrong as you will most likely not be covered by insurance.

Insurance

Depending upon what the business is that you are running out of your home, you may need special insurance coverage. Do not overlook this as you could have issues you do not want to be involved in should an issue arise. It is often thought that just because you do not need a business license or that you are not doing a business that could potentially harm another (like massage), that insurance is not needed. This is a costly misconception. Before you open your doors for business, call your insurance company, or one that deals with business insurance, to find out if you need to have coverage. Even if you do not need coverage, you may need to change your current insurance policy in order to cover your new business. If you have people coming in and out of your home or even hold a significant amount in inventory, your insurance company may want you to have additional coverage. Auto insurance could need to be changed as well, especially if you are carrying any sort of inventory that needs to be covered in case of a loss.

Operating a home-based business should be treated as seriously as if you operated one out of a building. Any business is just as important as another, regardless of where the headquarters are. Having a strong foundation in which to build on will help you to see the growth that you desire.

About the Author: Chris Baker is a freelance writer and blogs for www.cheapestcarinsurance.org.uk where you can find great deals on cheap car insurance for new drivers!

Working at Home – Know Your Stuff and Avoid the Scams

Having the opportunity to work from home is a dream for many people. Some people choose remote working as a way to earn a little extra money while looking after their kids, while others opt to work from home so that they can avoid the daily commute, or just structure their work day a little differently to the average 9-5 job.

Because remote working is so popular, this has led to a lot of scams job advertisements cropping up. Job sites do their best to try to remove the scams, but it can be difficult for them to stay on top of the sheer number of job postings that are submitted. If you want to avoid dodgy work-at-home advertisements, try the following tips.

work at home

Remember That Real Jobs Don’t Cost Money

If a job posting asks you to pay money up front, steer clear of it. A real employer would not charge money for training materials or equipment. Never hand over cash when you apply for a work-at-home job. You won’t see that money again.

Don’t Expect to Get Rich

Avoid listings that promise good incomes for part-time hours. Those listings are almost always pyramid schemes, MLM, or something similar. Work at home jobs are still jobs, and you’ll have to put in real work to earn real money.

Read the Advertisement Carefully

Before you apply for any remote working job, make sure you understand exactly how it will work. Many jobs work on a commission basis, or a revenue sharing basis. This doesn’t necessarily mean that they’re a scam, but it does mean that your income isn’t guaranteed. If you need a fixed income to pay the bills, be careful applying for commission related jobs.

Common Scams to Avoid

Until recently, assembly related jobs were a common work-from-home offering. These jobs tend to require fiddly, difficult assembly work. You can expect to work long hours to meet your targets, and will then have a sample of your work quality tested. If any of your work fails the test, you won’t get paid for that batch. Home assembly jobs might sound nice, but you’ll probably do a lot of work for very little money.

Another common remote working scam is data entry. While fast typists can do very well financially from real data entry jobs, in the work-at-home world, data entry is a euphemism for posting spam advertisements on forums and job boards. Your income (if you get any) will probably come from scamming other people into paying to buy the “data entry” start-up kit that you just purchased yourself.

Finding Real Work-at-Home Jobs

The best way to approach the work from home job hunt is not to look for jobs that advertise themselves as “Work from Home”. Instead, treat it like a normal job hunt. Figure out what your marketable skills are, and look for jobs in those areas. Jobs such as tech support, public relations, accounting, and software development all support working from home these days. Look for jobs with well known, reputable employers, and negotiate remote working with them if you want to avoid scammers.

About the Author: This post was written by James Harper on behalf of Maintel the remote working experts.

Image: Eric__I_E / Flickr

The Challenges of Working From Home

Many people believe that working from home is a luxury. Yes, you don’t have to make the commute every day, and yes, you don’t have to deal with those annoying co-workers, but while working from home may save you from the boredom of your cubicle, it still poses the following challenges.

1. Communication Barriers
If you work in an office, and you need to ask a coworker a question, you can simply walk to their office, pop your head in, and get your answer. When you work from home, you rely on other forms of communication, such as email, phone and/or social media. While these are all great ways to communicate, you can end up playing phone tag or waiting all day for an email response. This is fine when the answer you need is not time-sensitive, but it can be extremely frustrating if your deadline is fast approaching and you have a question about an important aspect of the project.

2. Distractions
There are distractions at the workplace, but there are more at home. Those dishes piling up could be driving you crazy. Your dog could be begging you to go for a walk. Your bed is also a short distance away, and would anyone really notice if you took a quick nap?

While you are working in an office, you can focus solely on doing your job. Aside from your co-worker’s drama, there is nothing there to distract you for the entire day like that to-do list around the house.

3. Allocating time appropriately.
If you work from home with a lax schedule, it can be hard to allocate time to complete your work. Maybe you have errands to run during the day that need to be done while the stores are open. Then when you get home, you have to make dinner, and after dinner, you have to help kids with homework. By the time you’re ready to start working for the day, the day is long gone.

4. Lack of social interaction.
Sure you are working in the comfort of your own home, but working by yourself can be depressing. We all enjoy taking that five minute break to talk about last night’s game or discuss social happenings with our coworkers. We get to know each other and build a rapport, and having an adult conversation, no matter how trivial it may be, is good for our social lives. When you work from home, you miss out on that social interaction. You don’t talk to anyone face to face, and you’re left out of the “goings ons” at the office. Plus, think of all those tasty treats you’re missing at those impromptu office parties.

While working from home does have its benefits, it also has its challenges. If you have the choice to work at the office or work from home, consider the pros and cons of both. Working from home may be the gig for you, or maybe you would be more productive in the office.

About the Author: Hillary Fox is a marketing major at the University of Texas with a passion for writing on the side. She is a proud advocate of dining on quick and easy freezer meals. Hillary cannot cook.

How to Become a Freelance Writer

Have you ever wondered where all of the information on the internet comes from? The information on the net is called internet content, and someone has to write it; that someone can even be you. Freelance writing is a fun and interesting career or sideline, depending on how good you are at it and how much time you want to devote to it. One of the biggest advantages to it is how few the tools are, and how small the investment is, that you need to get started.

Computer

This is a given, of course, but you do have to have a computer that is speedy and powerful enough to process your documents efficiently. If you have to spend half of your time downloading and uploading documents, or getting “hung up” because of a sluggish computer, even as a part timer, you will not make enough money to make it worth while.

Word processing program

Almost any word processing program can be used to write, but if the one you are using is not compatible with the most popular programs, you may leave yourself out in the cold. There is a lot of competition in the field, and if a site owner wants to buy your material, he will be quickly dissuaded if he has to go through too much trouble to do so. There are plenty of other writers using Microsoft Word.

Internet access

Slow dial up connections will not only slow you down when you need to transmit your texts, but navigating on the sites where you will find your writing assignments will also be slow and tedious. Time is money, so you have to be prepared to quickly review and bid on interesting projects.

Decent writing skills

The first three ingredients to being a freelance writer can be bought, but writing is indeed a gift. You must have a good command of the English language and a real desire to write and an enjoyment of the writing process. Most good writers are avid readers and learn a lot through their reading. You can improve your writing skills by studying some writing guides or even taking a writing course, and you should have a usage guide (Fowler’s is the bible for most writers) that you can refer to when you are unclear about how a sentence should be constructed.

Great imagination

Here is where the rubber meets the road. Unless you intend to concentrate on technical writing (which can be a lucrative niche if you have a strong specialty), you have to let your imagination run free and be able to call upon all of your life experiences, shared histories with others, and perhaps even a bit of fantasy. You may want to make sure you have the highly developed imagination before you invest in the computer and the high speed internet access.

Before hiring a freelance writer, or agreeing to work as a writer for a new employer, you may want a criminal background check. Both parties involved can save themselves time and problems by doing this one simple task.

Image: ElvertBarnes / Flickr

How to Save Money on Business Printing Expenses

When you’re running a business, you have a lot of financial burdens on your plate, from payroll to office supplies. One of the costs in almost any industry is the cost of printing up marketing materials. Whether your business requires brochures, posters, business cards and more or you simply need to have menus printed for your restaurant, the costs of printing can add up quickly. However, there are ways you can save money on your marketing materials. Continue reading How to Save Money on Business Printing Expenses