How To Start A Home Based Business

  • Added:
    May 05, 2013
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How To Start A Home Based Business Photo by Shiang Wong

Some very well-known corporations started as home based businesses. Over half of the businesses in the United States are home based. Starting a home based business has a lot of challenges and many rewards. If you have an idea of products you might want to market then you maybe ready to start a home based business. Home based businesses are becoming more common, but be careful, because some work at home opportunities are just schemes to get your money. Make sure that you research any company offering home based business opportunities. Grants are not provided by federal agencies to start a home based business. But another option is a low-interest loan program that can offer start-up financing.

In order to market a home based business, you first have to understand that the key component to your success are your customers. You have to learn how to market your business to your customers. You also have to do the taxes for your business as well.

Business Plan
One of the most important aspects of a business plan is the executive summary. An executive summary about highlighting the strengths of your overall plan and it will be the last section you write. Although, it normally appears first in your document for your business plan. Your executive summary should include several key points based on the stage of your business. If your business is already well established, you will need to include the following information:
* The Mission Statement - It should be several sentences long and explains what your business is about.
* Company Information - It should cover your business location, when it was formed, the founders
names, and your total number of employees.
* Growth Highlights - These will show examples of company growth, which will include financial. You can
use charts and graphs.
* Your Products/Services - Describe briefly the services and/or products provided by your business.
* Financial Information - You need to include information about your investors and bank if you are
seeking financing.
* Summarize Future Plans - This is where you explain how successful you would like your business
to be.

The executive summary should be kept to one page long. This is the first part of your business plan for your home based business that many people will be seeing, so make each word count. If you are starting a new business, you won't be able to supply as much information as an established company. You need to focus instead on your background and experience that led you to start your particular home based business.

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