Working 9-5

Do you work 9-5?  Is your time cut short promoting your business due to your day job?  Are you having difficulty balancing your day job's responsibilities and your home business?

I feel your pain.  Balancing having a day job and a home business can be daunting.  There are however, things you can do to keep your sanity.  I've been working on some strategies that I think can help.

Check out this article I recently wrote on How to Balance Having a Home Business and Day Job 

Also, come back here and share your strategies for balance.

Build Your Success By Helping Others

Having a selfish spirit never helped anyone succeed....well at least not for long. Eventually selfishness will cause others to see that you have nothing but your own best interests at heart.

If you are building a business, you must recognize that your business is not just about you. It's about people and helping them. Think about it. For example, let's say you are a beauty products provider, when you sell a detoxifying dry skin cleanser you are not just selling a face product, you are offering help to obtain cleaner, more moisturized skin that ultimately becomes healthier skin.

Another example, let's say you sell pain relief products, you aren't just selling your clients pain management products, you are providing them with a solution so that they can have better days, more peace, a better night's rest etc. You get it right?

One of the ways I want to help others while building my own successful business is to offer free business features on this blog.

If you or someone you know is building a home business that offers: hair care, jewelry, flowers, clothing, paper products, electronics, household items, services or informational products, please feel free to post a reply. I will then request for you to send me a short personal bio , 4 images of some of your best products, and your website address. We'll take it from there.
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Michelle Howard Smith is referred to as an Infopreneur Extraordinaire. She runs a multi-faceted home based business researching information related to alternative health, skin care and more.

Featuring The Eclectic Mall

Home Business Feature of The Week:
The Eclectic Mall by Kathy Adams

1. Kathy, tell us a little about why you decided to start your own business?
   
   I worked in the insurance field for many years. In 2007 I became unable to work outside the home anymore due to chronic back problems. After several failed attempts at finding a legitimate work from home JOB, I decided to try my hand at a business.
   
   
2. What encouraged you to build what appears to be a full online shopping mall?
   
   I thought I would have more success if I offered a variety of products and several choices for each product. I have tried to offer something for everyone, which is why my site will always be a work in progress.
   
   
3. What challenges have you experienced as a result of starting your own business?
   
   I am fairly new to this, so trying to find ways to market my business has been a lot of work. Also, I don’t know a lot about SEO so that has been a real challenge.
   
   
4. How have you met or how do you plan to meet those challenges head on?
   
   I have been doing a lot of reading and asking advice from people who have done this and have been successful. I’ve joined several networking sites also.
   
   
5. How are you currently marketing your business?
   
   I market on the networking sites to which I belong. I also have begun to use Twitter. Finances are tight right now, so I look for ways to market for free.
   
   
6. What appears to be your most effective marketing challenge (bringing in the sales)?
   
   At this time, I would have to say contacting friends and family. They are also helping get the word out about my online mall.
   
   
7. What are your business goals?
   
   I would love for this to be a business that brings in enough money to help with our bills. I am not looking to get rich.
   
   
8. Hey nothing wrong with being rich but how often do you run specials and how do you determine what deals to offer?
   
   All of the stores on my site are affiliate stores, so I am unable to offer specials on my own. However, the majority of the stores do offer specials. I frequently get emails from them telling me of the deals they have going on and I add banners to the home page of my site advertising them.
   
   
   
9. Any advice for others looking to start/build an online store?
   
   Do your research and have a lot of patience!!!
   
   
10. How can my readers get in touch with you and where can they view your selection of products?
    
    I can be reached at kathykandlesko (at) aol (dot) com. My products can be viewed at http://www.the-eclectic-mall.webnode.com
    
    

About Kathy Adams: Kathy is a wife, mother of two young adults and a lover of animals. Until two years ago, she was employed at Blue Cross/Blue Shield as an Operations Analyst. Chronic back problems forced her into early retirement. She applied for social security disability, but knowing there would be a very long wait, she decided to find some way to make money from home. After several failed attempts, Kathy decided to start her own home based business. The Eclectic Mall began as a small online mall, but grew very quickly as family and friends requested certain items be added. Kathy thought it would be best to offer several different stores in each category to ensure a great variety of products and prices.

Daily Marketing Plan

Over the last few days ago I've really been thinking about ways to get my home business to the next level. I know that My Father God blesses everything I set my hands to but I have to ask myself, "Is what I'm setting my hand to being done in the most effective way?" By that I mean, "Do I have any direction?" Well, I discovered that I'm usually all over the place. I do a little of this and a little of that....Go on Twitter for a few minutes a week, no specific day; write an article or two once in a while; constantly changing the look and feel of my websites without really tracking them. Boy, I haven't even checked my Adwords and Adsense account in God knows when.

This behavior is not productive and I've discovered that while I am a full time working mom, I can build more success with my internet marketing business if I develop some consistency and a plan....a daily marketing plan that is.

Building a successful online business is a lot of work. There are so many things that MUST be done on a consistent basis in order to maintain traction in the online world. So, now that I'm working from a daily schedule, here are the things I focus on:

• Spending specific time reading articles and commenting on Linked In
• Spending regular time interacting with folks on Twitter, participating in discussions related to my business and sharing information
• Writing 2 articles per week (1 for each of my sites) and submitting them to article directories like Ezinearticles.com
• Bookmarking my articles on social bookmark sites like de.li.cious, stumble upon and reddit
• Checking my ppc ad accounts once a week to check my ad performance
• Writing 1 Squidoo lens weekly to share information about topics and products related to my business and then bookmarking those lenses
  
• Working on my company newsletters once a week so I can have completed content by the first of each month
• Checking the stats for each of my websites and tracking changes
  
• Emailing my list specials on a weekly basis tailored just for their needs
• Blogging on my 3 blogs twice weekly (sometimes scheduling posts when I get a ton of stuff to say all in a short period of time) - 2 of my blogs Fresh Radiant Skin and Stress & Alternative Pain Relief are for me displaying my knowledge in my fields of natural skin care and alternative pain relief & stress management. My 3rd blog, the one you are now reading is for me to give back to the online community. I believe in helping others succeed one because no one ever just "arrives." We all have help along the way. Another reason is because I will also be helping pave my own way to success. In each of my blogs I like to display my personality so that you all can get to know me. I'm pretty transparent really. I like to joke around, exhibit a little sarcasm and even get a little serious when I'm sharing the latest news in the industries. However, I also love to write and converse with others in general which is why I hope my readership will pick up. How quickly you all will discover how much I have to say!
  

So, I have a set amount of time for myself each day to complete these tasks and I highly recommend the habit of working from a schedule to anyone building a home based business, especially an internet marketing business. When scheduling time for yourself to complete tasks, it's important to remember that discipline is essential. Don't do other things like check your email first or you may never get to your "assigned" tasks. Check your email after you've completed your To Do scheduled items. This will keep you on track as well as help with your time management.

Finally, remember that Rome was not built in a day. Don't get discouraged. Hard work barely fails to pay off. You can be successful and I hope that we can be on this journey together. I will share my learnings while building my business and I hope you will share yours.

God Bless and Here's to Fruitfulness in Business!

Tupperware and Watkins Home Business Feature

Featured: Suzanne Laukka
Tupperware & Watkins Home Business Entrepreneur

Bio: Suzanne has been married to Danny Laukka for 27 years. They have 3 sons and reside in the North Georgia Mountains. Suzanne has owned a pet shop for 16 years, has been a Tupperware Consultant for a year and a half and an independent Watkins associate for 3 years. In her spare
time, Suzanne enjoys reading and watching television.

1. So Suzanne, you appear to be a jack of all trades, creating streams of income from a variety of multi-level marketing sources. Please share those sources and tell my readers what’s working best for you

When I started looking for a home business to help with the family finances, I wanted to make sure that the company had been around for a while so I wouldn't be so worried about being scammed. My sister reminded me of all the years my Mom and Grandma used Watkins products and she saw an ad for The Summit Group and how to become an Independent Watkins Associate. I took the tour through the site and I just knew this was the business for me when introducing my Independent Watkins Business to a friend from one of my groups, she began telling me about her Tupperware business. I love Tupperware and to help her out, signed up underneath her so she would profit off of my own personal sales. Being around for years, Watkins and Tupperware products pretty much sell themselves. I do very well with both of my home businesses.

2. What influenced your decision to offer the products you are selling?

That Watkins has been around for over 140 years and has good quality products and that Tupperware is still going strong after 60 plus years. I have used the products myself and to me they are definitely better than the store bought products.

3. What do you find are your most responsive channels of marketing?

I do a lot of internet advertising, ads in newspapers, fliers, etc.... I seem to get the most response from people after they get to know me a little bit and realize that I am a real person that believes in my businesses and their products.

4. How do you manage to work out of the home as well as promote your home business?

It's not as hard as most people think it is. During my day at work, in between customers, paperwork, inventory, etc... I stamp fliers, talk to people about Watkins and Tupperware, make phone calls. Before and after work I drop off orders and when at home in between supper, laundry and housecleaning, I work on my advertising and meeting new people on my groups. I give out catalogs when I pay my bills, my kids functions, and other times when I am out and about.

5. Do you conduct parties? If so, how do you get folks interested in your products at those parties?

I do an occasional party and its a lot of fun to show people the quality of the products. I bring in some of the Watkins products to taste test also. The products sell themselves.

6. In your personal opinion, what would you say has been your biggest personal success?

I think it would be making a decent living with my 3 businesses and still be able to raise a happy and healthy family.

7. Your biggest failure (bear in mind that this is your perception and may not be

considered a failure by others)?

I can be a procrastinator and I am very unorganized. I am constantly looking for things I have misplaced and put off many things on my to do list until I am frantically trying to get it all done at once. Unfortunately, I have passed this on to my kids. That really bothers me. (You and I are a lot alike here! There's always room for improvement)

8. What are your plans for the future?

I hope to be able to sell my Pet Shop and pay off my house with the money. That way I can go farther with my businesses and be here when my kids get home from school. I also have an elderly Father that I would like to spend more time with instead of just lunch on Sundays.

9. What advice would you give to those who are interested in joining a multi-level

marketing company?

Keep in mind that you don't make millions over night. It takes work to make it a success. Believe in your products and yourself and don't quit. You can do it!

10. Where can people find you online to purchase your products and to network with you?

I belong to many ning groups. Also you can reach me through my sites. I'd love to meet you and get to know you. My Tupperware site is http://www.mytupperware.com/SuzanneLaukka click on the contact me link or http://www.tsginfo.com/index.php?rc=AK6449 Put in your name and e-mail and I will contact you. Thank you Michelle for this opportunity to let everyone get to know me a little bit. Looking forward to hearing from everyone.

Visit Suzanne's sites for a much wider selection of products.... You'll find just the right product for your home.

Branding Your Business

Happy Wednesday! I have a special guest posting here today. I've asked this very special lady to share some information with my readers that can greatly help those seeking to build a brand for their home business. This lady really knows her way around the branding business. Her name is Michelle D'Avella and here's what she has to share:

"As a graphic designer, I encounter so many business owners who underestimate the importance, not only of branding a business, but most importantly their logo. Your logo is the face of your business. It is the stamp and mark of your product or service. A good logo stands apart from the rest and speaks true to your brand. Many business owners are put off by the cost of a logo or a brand identity, but it's important to understand how essential these elements are to the success of your business. You may have a great idea or a fantastic product- but are your customers taking you seriously? If your company does not LOOK professional how can a customer THINK you are professional? Consumers need to feel they can trust you. Your first impression is the look of your company- the logo, the corporate identity package. After that is established then the customer deals with your business. So, a first impression is important. Before you embark on your journey with a graphic designer take the time to really figure out what look your company needs to become successful. Notice, I said your company needs- not you. Many times business owners confuse what they like and want with what is best for the business, and most often that is not the case. Do your research- look at other quality logos. Find a designer who cares about what you're doing and wants to contribute to the success of it.

I co-own a clothing line called Vintage Blue. My partner and I spent a long time determining what our brand was and who it spoke to before I began the design process. But, when you look at it throughout all elements there is a consistent look and feel that represents the brand. Take a look at the website at www.vintage-blue.com as well as the business cards and letterhead at www.michelledavella.com to get a feel for what I'm talking about."

Good luck in your business endeavors!

Bio: Michelle D'Avella is a freelance graphic designer working with companies in various industries from clothing lines and baking companies to energy drinks and salons. She has experience in print, web, and t-shirt design. She is the co-owner of Vintage Blue, an eco friendly clothing line which holds the exclusive license to The All American Girls Professional Baseball League from the film A League of their own. She also owned a denim boutique in 2006 called Denim Society where she spearheaded the design and marketing department. Take a look at Michelle's portfolio at www.michelledavella.com and follow her blog at http://michelledavella.wordpress.com

New Blog Feature

In an effort to help individuals build their home based businesses, I will be adding a new feature to the blog. Every Sunday I will feature an entrepreneur or small business owner who is building or has built a successful home based business. This will help by providing encouragement along with helpful advice for those who have a home based business.... Stay Tuned for my first featured entrepreneur TDN Creations:

If you are interested in being featured, please visit: http://findafeature.blogspot.com/2009/07/blog-feature-10-steps-2-success-ongoing.html for complete details.

To Your Success!

Marketing Your Home Business and Twitter

Twitter is becoming increasingly more popular as THE way to get a quick marketing message to many people. Twitter can be a great resource for your home business. However, while Twitter has it's advantages, it also has some disadvantages.

Let's take a quick look at some of the advantages of using Twitter:

• You can post a link to your website in your Tweets that can potentially reach thousands of people, resulting in increased traffic to your website


• An open terrain to contain advertise your products or services to a large audience


• You can make quick announcements about sales and promotions that reach many as opposed to creating a long email to send to your opt in list


• You can get your message across without the worries of if your email will be seen as spam


• Your tweets are in real time so whoever is logged in will see your message right away

Here are some disadvantages of using Twitter:

• It can be difficult to build a faithful group of followers


• You are subject to empty twitters from people you follow at times (you do want to return some of your follows or you may be perceived as a stuck up lone ranger!)

As you can see, there are more advantages than disadvantages to using Twitter to market your home business. If you are going to successfully use Twitter to market your home business, find your niche, use Twitter as a means of connecting with your customer by offering your benefits, not your features and last of all...Do not just send robotic like messages that repeat over and over again. It's just like spam. Now get to Tweeting!

Your Day Job and Your Business

Running a home business can be very exciting. The prospect of making money, meeting new people and developing relationships is great to look forward to. If you have a home based business and work a day job for an employer, accomplishing these tasks can be challenging and sometimes quite daunting.

It is my goal to offer you some encouragement. The whole purpose of this blog is to offer information and encouragement to individuals trying to profit from having a home business. I'm going through some of the same challenges and while I have not yet arrived, I would like to share some of my experiences, wisdom, knowledge, challenges and victories.

Balancing Your Day Job and Your Home Business

One thing I want to emphasize is the importance of knowing how to balance the two: Your Day Job and Your Home Business. Don't allow the two to overlap (unless of course you are selling some of your coworkers - assuming your company doesn't mind). I work for a large financial company during the day and one thing I struggle with is doing my work for my employer and trying to slide in extra time to do things to promote my business (like now). Fortunately, I work for a very flexible company and my manager is very understanding and is actually trying to help me in business. You may not be as fortunate in this area so it's important that you draw a clear line between the two. You don't ever want to find yourself in a position where you now have all the time in the world to work your home business but you now have to figure out a way to pay the bills.

Aside from focusing on your day job while you are there, when you are at home working your home business, focusing on that is just as important as if you were working for your employer. Don't bring work home or rob yourself of time that you could be using to promote and work on your home business. You need that time to innovate and complete specific tasks such as working on your advertising or web copy - especially since if you are working a day job, you have less time to work on your home business.

If you have any questions or would like me to share more of my experiences growing my home business, please feel free to reach out to me. I'm pretty transparent with folks (another good quality for running a home business).

Simple Time Management

Many of us struggle with getting things done in the time allotted to us. To be profitable in a home business or anything for that matter, you have to manage your time wisely. Here are three tips for simple time management:

1. Write it down - Write down what you would like to accomplish a day in advance. Break that list up into "Must Do" and "Would like to do". This way you won't be disappointed if you don't get everything done but you will have accomplished the items of the highest priority
   
   
2. Don't procrastinate by doing other things. Stay focused on the task at hand and don't let your mind wander. For example, let's say you are blogging (like me!), if you find that your mind is wandering thinking about what you are going to watch on tv later on, take that thought captive and get back on track.
   
   
3. Don't multitask. Have you ever heard of the saying, "The fastest way from point A to point B is in a straight line?" Well, it's the same in business. While multitasking may seem like an effective way to get a lot of things done at once, you will actually find yourself starting a lot of things but not completing all of them.

Doing just one of these 3 simple time management tips, you will find that you will be more productive in your home business and your life in general. I notice that I get more done when I simple write out a To Do list the night before.

Organizing Supplies & Equipment for Your Home Business

When starting or building a home business, there are basic things that you need to do if you are going to pave the way to success. I discussed some of these thing in the last three or four post. Now, I'd like to talk about obtaining and organizing neccessary supplies and equipment for your home business. After you have done the most important things such as set a budget for yourself, legalize your business, and published a website, don't forget the seemingly small things which sometimes get overlooked.

Are you a multi-level marketer? Are you creating your own products by hand? Whatever your home business is, you must keep a stock of basic supplies in addition to any equipment you will require. Here's a top 25 basic supply list in no particular order (you can add to it based on the type of home business you are operating):

1. Business Cards (keep a supply on hand and in your wallet)
2. Pens, Pencils
3. Printer/Copier Paper
4. Post It Notes
5. Stationery (Envelopes and Letterhead with your logo keenly displayed)
6. Writing Pad for jotting down notes and ideas
7. Laptop or Desktop Computer
8. Multifunctional Printer/Copier/Fax/Scanner
9. A supply of toner (nothing like running out of toner when you need to print an important document - Once you put in the last toner, buy a new one right away. Don't procrastinate or you may find yourself in a bind at the last moment)
10. File Folders & Labels
11. 3 Ring Binders
12. Shipping Boxes & Labels
13. Bubble Wrap
14. Scissors
15. Markers & Highlighters
16. Stamp Pads
17. Packing Tape
18. A Pre-designed Invoice that you keep stored on your computer and/or CD for easy access to editing (don't forget to sport your logo on it and include all pertinent contact information, including your website address)
19. Product containers such as bottles and tops
20. Waterproof Labels for your product containers (Elements Bath Body and Home has an extensive supply for very fair prices. You can even purchase them by the sheet)
21. To Do List Sheets
22. Daily Planner and Calendar (Electronic preferred to minimize paper use)
23. Marketing tools such as brochures or pamphlets. Keep a supply stocked up so you don't even fall short when you need to distribute one. It's a good idea to keep a few of these on hand when you travel as well
24. Label maker
25. Desk lamp

If you prefer a pre-printed office supply list, http://www.clutterdiet.com/ has one you can purchase for $7.50. They also offer a bunch of other neat supplies for your home business such as an internet password organizer. Boy I think I'm going to pick up one of these!

Creating Workspace Boundaries

An important step towards organizing your business is creating boundaries where your workspace is concerned.

Have you ever looked at a person's office or work space to see nothing but chaos? Well, for a home business owner, it's easy to get unorganized if you do not establish boundaries. You can easily cross those boundaries and mix home/family life items and documents with business documents.

To effectively create your workspace boundaries, it would be ideal to have a home office. However, everyone is not blessed with that kind of space. Some of us running a home business live in an apartment and the workspace is not much more than a corning in the living room with a computer hutch. Even still, you can set workspace boundaries by doing 5 simple things:

• Keep your computer that you use for your home business separate from the computer that the rest of the family uses. You should not be sharing a computer. If you are serious about creating workspace boundaries, when others ask to use the computer you use for your home business, you'll be wise to send them to the library or a friend's.
  
• Have a separate filing cabinet for your home business documents. You should not have your birth certificate and kid's social security cards in the same filing space
• Spend time each day clearing away clutter. Instead of using post it notes to jot down thoughts and ideas, use a notebook where you can keep it all in one place
• Set a schedule and create a to do list for each day of the week to work your home based business and stick to it. If you don't complete every task, that's ok. Start your tasks based on priority
• Use a separate phone line from your home phone line. There's nothing like being in the middle of talking to a business associate or customer and then having your daughter's friend beep in (I experienced this one personally)
  

Organizing your home business will take some work, practice and time. Don't give up. "Rome was not built in a day."

Legalizing Your Home Based Business

Today let's get back on track to discuss some important steps to organizing your business. Last week we outlined ways to organize your business for your home business success. We started with organizing your finances and the importance of having a business checking account and business credit card. Today let's talk about legalizing your business.

After you have decided what type of home based business you want to have, you will then want to determine it's structure. You actually want to legalize your home business even before you get your credit card and checking account. The only reason I went into depth about organizing your finances for your home business is because that's what people are usually most concerned with.

When organizing your home business, you need to determine what type of legal entity it's going to be. There are many types of entities to consider when running a business. I'm not going to list them all, only the ones that are easy and least expensive to form. Since, we are discussing legalizing home based businesses, cost is an important factor to keep in mind. Here are some business structures to consider:

• Sole Proprietorship
• Limited Liability Company
• S Corporation
• General Partnership

There are other business structures: Limited Partnership, Regular Corporation, and Limited Liability Partnership but these have drawbacks that a home based business should probably not want to get involved with. These structures are typically for businesses with more than one person running it. Limited Partnerships are suitable for companies that mainly invest in real estate and the owners are personal liable for all business debts. Regular corporations are separate taxable entities and the paperwork to legalize this type of business is overwhelming. The owners in a Limited Liability Partnership are personally liable for debts and obligations owed to business creditors, lenders and landlord. This entity is also not available in all states and is limited to a short list of professions. Corporations also are required to keep certain business records,

As for Sole Proprietorships, Limited Liability Companies, S Corporations and General Partnerships, consider the following Pros and Cons of each entity:

Sole Proprietorship - Pros: Inexpensive and easy to create and operate. You can report your profits/losses on your personal income tax return. Cons: You are personally liable for all business debts

Limited Liability Company - Pros: Limited personal liability for business debts; One person can own 100% of interest; Profit and loss can be allocated differently than ownership interests; IRS rules allow LLCs to choose between being taxed as partnership or a corporation; You aren't required to hold meetings and keep minutes. Cons: More expensive to create than sole proprietorships and partnerships

S Corporation - Pros: You have limited personal liability for business debts; You can report your share of profit/loss on your personal income tax returns; You can use corporate loss to offset income you may have from other sources. Cons: More expensive to create than partnerships and sole proprietorships; This entity has tedious paperwork than that that of a limited liability company which offers similar advantages; Income must be allocated to owners according to ownership interests; if you own more than 2% of shares in the corporation, benefits may be limited

General Partnership - Pros: Inexpensive and easy to form and operate; All partners can report their share of profit/loss on their personal tax returns. Cons: You are personally liable for all business debts

Another important thing to get to establish your business is an EIN # (Employer Identification Number). This is also known as a Federal Tax Identification Number, and is used to identify a business entity. You will need an EIN # to open a business banking account, applying for business licenses, and filing a tax return by mail. The good news is you can apply online and it takes only about two weeks for it to be inputted into the IRS' system.

My home based business is established as a Limited Liability Company. I chose this entity because of the benefit of limited liability. My personal assets are protected in the event that I (God forbid) I am sued. However, now that I look back I wish I had operated as a Sole Proprietorship for a while and then became a Limited Liability Company. The cost for establishing my LLC in NY state was over $500. Fortunately, the laws have changed where tax reporting is concerned. Back in 2008, it cost $350 just to file a federal tax return for an LLC. Now, it's only $25 to file.

As you can see, there are so many choices available for legalizing your home business and this is not a decision to be taken lightly. Evaluate the pros and cons and determine what's best for you and your business. After you have decided on a business entity to legalize your home business, chosen a name for your business and obtained your EIN#, have a professional take care of the paperwork. In some cases you can do it yourself but to avoid mistakes and save yourself time, let the professionals take care of it. There are some online sites that can take care of it for you. I have dealt with two that I recommend Legal Zoom and AmeriLawyer.com

Help with Blogging

This posting is totally off topic for what we are currently discussing which is organizing your business but I just had to share this. It's business based and if you are running a home business, you should be blogging to promote that business.

The problem is many of us are running out of ideas to blog about. Well, I came across a great way to help those who are having difficulty coming up with blogging ideas. Check out What should I blog about? 50 Ideas to You Started

There's also a Free e-course and Blogger's cheat sheet here

Organizing Your Business

When it comes to success at home based business, a very importantant aspect to building your business is to organize your business affairs. Believe it or not, many home business owners don't have the basics in place.

There are a few items to have in place to organize your business so that it runs smoothly. For the next few posts I'd like to discuss a few things you need to do to organize your home business for success:

• Organize your finances
• Legalize your business
• Create a professional image
• Assign workspace and make boundaries
• Obtain and organize neccessary supplies and equipment

In this post, let's talk about organizing your finances. Depending on the type of home business you are running, the amount of financial assistance you require will vary. However, one thing that every home business needs is an operating bank account to manage sales and expenses. Even if you are a sole proprietor, it is recommended that you do not mix your personal funds with that of your home business. This way you can effectively keep track of the monies you are spending on your business and there is no ambiguity (there are clear lines separating the money you use and spend for your household vs. that of your home business). I chose to have two business checking accounts for my home business. The reason I chose two checking accounts is so that I could separate the money that I need to save, pay taxes and pay tithes with from the money I use to pay my home business expenses with. I have both accounts at the same bank so that I can easily transfer funds between the two accounts as well as see all of my transactions in one place.

As a Christian, I give 10% of everything I earn to the Lord. He has graciously blessed me with my own home business and I can't think of a better way to thank Him than to help finance the spreading of the Gospel of Jesus Christ. Everyone should have the opportunity to know Jesus. He is so good and faithful. Just when I feel like throwing in the towel, He sends someone to encourage me. Ok, so while I went a bit off topic for a moment, I thouht it important to mention why I tithe because I know some people were probably wondering about it. Back on track now...

My Personal Home Based Business Websites:
Dead Sea, Bath & Body Products, Aromatherapy Candles, Gift Baskets & Gift Sets
Stress Relief Products, Magnetic Therapy & Alternative Pain Relief

Another channel for obtaining finances is small business credit cards. Since you will not be mixing your personal finances with your home business finances, you will need a business credit card to easily facilitate paying for supplies, etc. An important thing to note however is that you should limit most of your credit card charges to items that will pay for themselves by generating income relatively quickly (ex: you sell hand gloves for $20 that you have the manufacturer ship directly to your customers. When a customer purchases a pair of gloves for $20 on your website, you then go to the manufacturer and purchase the gloves on your business credit card at your wholesale cost. Once your customer's payment clears, usually in 2-3 business days, you can then make a payment on your credit card to cover the charge.)

There are other types of loans such as personal loans you can apply for but I don't recommend theses for a home based business. A big perk of a home based business is the ability to have low start up costs. Some people choose network marketing home based businesses which have little to no start up costs. Others choose to sell homemade products and sell them on a website with very little to no fees such as e-bay, webs, etsy or artfire. Whatever your particular home based business, just make sure your finances are in order. I personally do a bit of both because I enjoy designing my own products as well as networking and promoting other products that I don't make but have the ability to improve people's health. Besides my personally managed websites, I'm a distributor for Young Living Therapeutic Grade Essential Oils, I truly enjoy this home business. I personally experience a wealth of benefits with these oils. If you are interested in distributing or just being a customer of Young Living's products, visit the main website at http://www.youngliving.org/. You'll need distribitor # 1066504 to purchase or become a distributor.

In a few days I'll talk about the next thing on the list to organizing your business affairs...legalizing your business.