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Mar 27, 2008

Before You Start A Home Based Business, Ask Yourself These Questions

If you are like me, you read as much as you can about the successes and the failures of people who start home based businesses. The successes are usually inspiring and wildly successful. The failures are usually stories about how someone felt 'scammed' or duped in a home based business, and how it is all lies. I find it really fascinating that for one person a specific home based business program was their ticket to financial success, while the other person had the exact opposite experience. Here's what you should be asking yourself if you are thinking about a home based business program:

Are you really committed to take action?

If you are your odds of failing are minimal. If you believe you WILL be success and that you MUST be successful you very likely will be. Change your thinking, and really see if you can mentally commit to it.

If, on the other hand you are going into a home based business with doubts, or thoughts of it not really working but will give it a try, do not start. Like Yoda from the Star Wars movie says, "Do, or do not. There is no 'try.'" It takes real commitment to be successful with a home based business. You first must be mentally commit yourself for success.

Will your friends and family offer support, or will they tell you why you can not succeed?

Although we need to be mentally prepared and ready, many around you will tell you that you will not make it with a home based business. They will tell you that you will fail, and some will actually spend time researching reasons and statistics to support their argument and, intentionally or not, try and create doubt in your mind. My advice is to ignore those people. If you can not ignore them, then just change the subject. If they can not support your home based business plan then you will not convince them until you are successfully making money in it. Ignore them and focus on building your success.

Can you sacrifice some of your spare time to build your home based business?

No matter what anyone tells you, there are no automatic money making programs out there. You need to work at your home based business, just like you would work at anything else of value. Schedule time each week to do the necessary work. If you do not schedule time you will get caught up in your daily routine and eventually will start questioning why you started a home based business in the first place. You may start to get the perspective of the person who I described in the first paragraph who eventually feels that they were duped or scammed.

Remember something, no matter what program or investment you make in a home based business, it is YOUR business and it is up to YOU to be successful. There are a number of good programs that support you, give you the steps, point you to the right tools, but if you do not make yourself accountable with your time, you will fail. Choose to be successful by first scheduling and then spending the time.

Will you try new things?

In a number of home based business programs they will outline things that you have never done before, or may feel uncomfortable doing. If any program suggests that you do something you feel is morally or ethically wrong, definitely DO NOT DO IT. However, some of the things a programs will suggest are things that you may never have done before and you may feel uncomfortable doing. You need to get out of your comfort zone and take the advice and do the things that are outlined for your success. Remember, the home based program that you may have purchased is from someone who does want you to be successful. If it is a reputable program, they will want you to be successful because that is the only way for them to keep growing their business. They suggest these techniques for a reason. They work.

Can you invest financially?

You'll need to create a budget for yourself. It doesn't have to be a lot, but no matter what home business you follow, you will have to spend some money. Work out what you can spend each month and then stick to the budget. By following the budget you will never feel like things are slipping out of control and since you are planning for success you can plan to succeed. If you have access to a simple spreadsheet like Excel that works. Just keep it updated and treat it seriously. Do not exceed your monthly budget without a real good reason.

Can you find a mentor to help you with questions and give you advice?

There are a lot of people out there ready to help. A mentor does not necessarily need to be someone you physically know. A mentor for a home based business may be a support forum, a chat room group for home based businesses, reading success stories and profiles, and even reading articles. We live in a great time in that we have so much access to information. Do not try and start a home based business yourself. Use the different support systems around you to research ideas and techniques. Over time you will end up being the expert.

There are a lot of places to start when considering a home based business. But before you really start in earnest, take an inventory of the questions I have outlined in this article and see if you really are ready to be successful. Do not allow yourself to go on this great journey unprepared. When I began my journey I was fortunate enough to find a program that I feel offers the right guidance and necessary support in order to be successful.

Mar 23, 2008

Start a Home Based Business

What would it be like to start a home based business? Many people wonder this on Sundays as they dread the beginning of the next work week. The only real problem, and what prevents most people from starting a home based business, is belief that it can be done.

Most people are not cut out for a home based business. This is why most people work for someone else. If we all had home based businesses we’d have no one to serve our meals at restaurants or sing to us at concerts!

So be glad that YOU are looking into starting a home based business because if you choose wisely, there is a lot less competition than there is at a local job fair these days!

The internet makes it very, very easy and inexpensive for people to start a home based business these days. There are thousands of legitimate, valid home based business opportunities out there. And, of course, there are a lot of scams to beware of.

The best rule to live by is this: If it sounds too good to be true, it absolutely, definitely, positively IS!

Anyone who tells you that you can get something for nothing is a crook. Someone who says “we do all the work” is lying to you. Anyone who tells you that to start a home based business you need thousands of dollars and it should go to them for the privilege, is yanking your chain.

Working for yourself is actually a lot harder work than working for others. Why? Because once you taste success, and you realize that all you have to do to get more sales and make more money is work a little harder, most people work a little harder!

Why, again? Because when you start a home based business, you control your destiny! You get 100% of the profit from all your hard work and you have no boss and no one to answer to. This is an incredible feeling of freedom and peace to 99% of the people who experience it.

No successful home based business person (and there are quite literally thousands of them on the internet) will tell you what they do is “easy.” But they WILL tell you they love what they do and would never trade it for anything else.

Whether you end up selling information, services, or hard goods, the one thing to keep in mind when starting a home based business is that you must love the subject, product, or service. You are going to be married to the business for awhile when you start out and you definitely don’t want to quit from boredom just before you were about to make some great money!

I have seen this happen many times and it’s a sad thing! If you are the kind of person who can motivate yourself and work hard, then start a home based business today and get out from under the thumb of your employer!

Mar 9, 2008

Small Business Bankruptcy

When you own a small business and have never owned a business before then it would be understandable if you needed some bankruptcy help. There is nothing to be ashamed of, you may not know which section of bankruptcy to file for and we can help you. One of the first questions to be answered is your business a partnership or a sole proprietorship? If you own a corporation there are limited liabilities for companies and partnerships that are legal entities that are separate from their partners. In cases like these then, you can file Chapter 7 or Chapter 11.

If you have partners and you choose Chapter 7 then you should know that in a Chapter 7 case the trustee that is appointed by the court can sue the general partners if the partnership’s assets are not enough to pay for the entire debt. The partners could be sued by a well funded trustee suing on the behalf of all of the business creditors. If you have a proprietorship then they are pretty much just an extension of the owner and a Chapter 7, Chapter 11 or a Chapter 13 may apply.

Chapter 7 is equal to liquidation and Chapters 11 and 13 are about reorganization. How should you make the determination on which way to file? You have to look at the facts and see which avenue suits your business better. For example, if you chose Chapter 7 then once your assets are gone can you still run the business, most likely not. So if you think you have to give up the business after filing Chapter 7, you would be wrong.

If you choose to file Chapter 7 and you have a business that doesn’t require much of a start up capital then there is no reason why you could not resume that business but you can’t resume that business until your bankruptcy is discharged. Chapter 7 is appropriate when you feel that the business has no future at all. When it has a fair amount of assets or qualities that can’t be done again and lastly if you feel that the debt is way too much that trying to rebuild would be a waste of time, then Chapter 7 is for you.

If you want your business back on its feet and give it a chance to over come the bankruptcy then reorganization of Chapters 11 and 13 will be appropriate. During the filing of Chapter 11 a court appointed trustee will sit down and figure out a reorganization plan and if it is feasible she will take the recommendation to the judge that this is the way to proceed but if the trustee cannot make a connection for reorganization then they will make a recommendation that Chapter 7 be implemented. By providing the courts with all of the necessary and legal paperwork in any filing can only help your cause. One willful mistake and things will not go your way and you will be worse for the wear.

Oral Nicholson wants to teach you the bankruptcy laws and will show you proven techniques and statergies to get you out of debt without bankruptcy. For bankruptcy information visit http://www.filing-bankruptcy.info