I want to work
from home, but I don't know where to start.”
Sound familiar? Home businesses are growing
faster than any other kind of business –but
no one wants to take a chance on something destined
to fail. How do you find the hottest home business
opportunities? Take the time to look for some
key points.
Instructions
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STEP
1 |
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Hot business
opportunities have a market. Do basic
market research to find out if the opportunity
will attract customers. |
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STEP 2 |
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Find a niche. The
hottest businesses are one-of-a-kind or
offer something that other businesses
like it can't. |
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STEP 3 |
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Look for success
stories. Don't stop with the testimonials
listed on a Web site or in a brochure–ask
for references and call them. |
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STEP 4 |
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Find reproducible
products and services. If a business has
done very well baking and selling a type
of all-natural doggie biscuit, you want
to know if you can get the recipes. Real
success can be reproduced. |
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STEP 5 |
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Look for opportunities
that are supported by other hot businesses.
You want to get into a business that is
in high-demand, but if there isn't enough
support for the trend, you'll regret the
move. If it's trendy, can it last? |
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STEP 5 |
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Ask for free information.
Legit opportunities don't ask for money
before information is sent. |
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STEP 6 |
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Consider the small
business basics: subject expertise (do
they train?), cost of supplies and access
to customers (can you think of twenty
people to sell to, or will they help you
get customers?). A really hot home business
opportunity will answer these questions
for you. |
Plan your business
Planning is critical to successfully
starting and building a business. That’s
why we’ve dedicated a section for it.
Here you’ll find guidance on the tools
and resources necessary to write a winning business
plan. From sample plans to a business plan primer,
we’ll get you started on this very important
activity. Once your business is up and running,
you’ll need to regularly review and update
your plan to manage growth.
Start your Business
Starting a business requires you
to complete a number of steps and make some
key decisions. Though part of your overall plan,
you’ll need to select a location, decide
on a business structure, and obtain the necessary
licenses and permits. In addition, determining
which financing options will meet your short-term
needs and long-term goals is crucial. Within
this section, we’ll provide information
on these topics along with guidance on buying
an existing business, copyright and trademark
issues, and getting support from an outside
expert.
Manage your business
Successfully managing a business requires
specific management skills in addition to knowledge
of key business practices. Within this section
you’ll learn about leadership traits,
decision-making skills, and how to manage your
employees. Additionally, we’ll walk you
through a host of important topics to manage
your business including: marketing basics, setting
prices, filing your business taxes, legal considerations,
forecasting for future growth, and financing
options.
Getting Out
Getting out of your business
may not be important to you at this point. However,
planning your exit strategy often involves more
than just closing down. Within this section
we’ll discuss practical options that include
selling your business or transferring ownership.
In the event that you decide it is time to close
your business, you’ll learn about liquidation,
filing bankruptcy and reviewing the IRS guide
on shutting down.
