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7 Tips for Home Business Start-up Success

1) Prepare a realistic business plan.

Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!

By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.

2) Your business plan should encompass the financial considerations of starting your small or home based business:-

Do you have the capital required?

Do you need to raise additional funds?

Who are you going to approach for finance?

Who do you trust for advice?

And don't forget to open a business bank account?

3) Consider the legal implications of becoming a business owner and proprietor.

Are you better off as a sole trader, a limited company or are you considering a partnership?

Make sure you consider all the angles and protect yourself and your assets personally from the outset.

Anything you bring to the business has to be itemised, valued?even if you're a sole trader.

And make sure you are professionally covered with the appropriate business indemnity insurances.

4) Get your family and friends behind you from the get-go.

Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.

Do they understand the level of commitment you will have to show for on-going and long term success?

Their belief in you and continued support of you will work wonders towards your on-going success, so don't forget to look out for them too.

5) Protect your family, protect your business.

If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?

Consider insurances - from health, critical illness and income protection insurance to life insurance ? and consider your pension and long term financial security.

6) Face those 'taxing' questions from the start.

Your small or home based business has to consider its taxation situation.

Do you need to register your business for sales tax purposes; have you informed your tax office of your business's inauguration?

Do you have a good tax professional lined up to guide and assist you?

The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.

7) Prepare realistic and achievable goals and targets for your first year.

Do not expect to conquer the world with your first year's business returns.

Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets ? when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business' success.

Rhiannon Williamson is a publisher with specialist knowledge covering literally every single aspect of moving & living abroad.

From setting up your own business abroad, offshore investment and offshore banking to international living and buying property abroad.

Check out her site Shelter Offshore to find out how you can escape from the rat race, relocate overseas, and profit from your move!

In The News:

'Assassination attempt' on Zimbabwe's president
Sat, 23 Jun 2018 16:14:00 +0100
Zimbabwe's president has escaped injury after an explosion at a stadium where he was addressing a rally, in what state media are describing as an assassination attempt.

Spain rescues hundreds of migrants on boats
Sat, 23 Jun 2018 13:59:00 +0100
Spanish authorities have rescued 569 migrants whose boats were attempting to cross from North Africa to Europe.

Grenade thrown at Ethiopia PM: One dead, many hurt
Sat, 23 Jun 2018 11:19:00 +0100
At least 83 people have been injured in an explosion at the first rally of Ethiopia's new prime minister in the capital Addis Ababa.

Saudi Arabia poised to lift ban on women drivers
Sat, 23 Jun 2018 01:44:00 +0100
From midnight on Saturday women will be allowed to drive in ultra conservative Saudi Arabia - it's the only country on Earth where women drivers are currently banned.

Football fans banned for World Cup disorder
Sat, 23 Jun 2018 17:49:00 +0100
Two men have been banned from attending football matches following offences at the Russia World Cup.



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