Planning for a successful Home Income

couple working at home with laptop

When you make the decision to earn income from a home business, there are a number of steps you need to consider when planning for a successful outcome.

The Following are some basic steps which may help with this preparation.

1. Mental approach

The key to your home business success is your attitude.

Treat your home business like any other business.

This is imperative whether you are intending to work part-time or full-time at your business. Remeber you an entrepreneur and that requires not only inititiative but also hard work and dedication to the goals you wish to achieve.
Put another way, “If you have a hobby attitude you will have a hobby income, if you have a home business attitude you will have a home business income.”

You can be successful working part or full-time but it is highly unlikely that you will be successful if you only work in your “spare time” as and when it may arise. Set yourself targets to achieve on a weekly and monthly basis and if necesessary allocate specific time slots each day and do not waiver from that committment.

2. Working Environment

A space that you can call your own, free from distractions for your scheduled time.

A comfortable chair and organized desk.
Stationery supplies as required. For example:

- pens
- highlighters
- stapler
- hole punch
- sticky tape
- note book(s)
- a simple filing system
- ring binders
- manilla folders

A broadband connection in the present day and age is more or less a neccessity. Your time is precious and a broadband connection allows you to optimise what you can achieve with your time.

3. Work pattern.

Develop a schedule that works for you, your family and all the other committments you may have. When you allocate a certain amount of time to work on your business ensure that you focus and avoid distractions within that time frame.It is important to schedule time for your other committments because if you dont you will find these commettments encroach on your work time. Consider starategies that work for you which will enable you to work during these times with minimal disruption. Forinstance, put your phone on voicemail and resist the temptation of checking emails and texts.

In a family environment you may need to negotiate with your partner and children to have your home business time agreed upon, during which you will not be interrupted. Put this schedule prominently somewhere so all family members are aware of your work schedule.

4. Defining Your Home Business

Be able to define your home business concisely; a short or snappy description that others could use when talking about your home business is a great marketing tool.

5. Be Clear About What It Is you Are Marketing.

Once you have decided upon what it is you are marketing, whether or not it is something that you would use yourself, you need to know all about it in detail.For example, a seller of E books must know the content and the value of his/her products.if on the other hand you are marketing software, then you should have used this product your self so that you are thoroughly conversant with what it does. If you do this you will become a marketer with a reputation for quality information and products.

6. Administration

Use good record keeping practices.

This may involve a consultation with a tax advisor who can let you know about the optimal way to set up your financial records and what records need to be kept. Your advisor will also recommend record keeping systems and you can find out what software may simplify this aspect of your home business. Additionally your obtain advice on the best arrangement for your bank accounts. You will most likely be advised to have a separate bank account.

Remember to keep track of your various log ins ,user names and passwords. There are software tools to assist with thisbut a simple note book will suffice.

7. Computer Protection

Your computer is essential. Without a well functioning comuter it will be difficult to carry on your home business. For this reason you must ensure that you have the following operating on your system at all times:
-virus scanner,
-personal firewall,
-anti-spyware and anti-adware and preferably an email scanner with the ability to delete spam email from the server before it is downloaded to your computer.

8. A Domain Name

You will most likely need a domain name for your home business if you are setting up a website and there are a number of cost effective companies that will host your website.

9. Payment Processing

You will need a way to process credit cards; that may be by using services such as:

- PayPal

- Clickbank or a range of others.

This is the most economical way to get started. Once your home business picks up you may need to look into your own merchant account for credit card transactions but this is not necessary at the out set.

10. Email accounts

Once you have your own website you may also have an associated email account. Thisis helpful in promoting your business and gives a professional profile.

Finally it is worth commenting that an ethically conducted on line home business can provide an excellent service enabling you to be justifiably proud and on the way to sustaining a long term business.