subject: Should you Start a Home Business in Hard Economic Times? [print this page] Are you looking into starting a home business but the economy makes you nervous? Having a job and steady paycheck sure seems appealing with unemployment skyrocketing and your family and friends are wondering if you're crazy for wanting to start your own business.
What to do - What to do?
Let's stick to reality and common sense...plan wisely! You and/or your family's money is valuable and hard earned so take your time and research your interests carefully, see if there's a demand, and try starting out on a small scale and work it part time in your spare time. Starting small and taking your time to build your business is absolutely fine.
Keep the Expenses to a Minimum!
There are lots of ways you can save money when starting your new home marketing business, and there are a handful of areas that you do not want to pinch pennies. A few ways to save money are:
-Work from home - save on leasing office space and portions of your home become tax deductible (don't scrimp on the tax advisor!).
-Use public spaces for meetings when possible...saving on the fees of leasing space.
-Try to use furniture and equipment that you already have and don't be afraid of yard sales and thrift stores. Besides, who knows what kind of treasure that you'll find that you can profit from!
-TV, radio, and newspaper advertising is expensive, so avoid this expense for now. Use your blog (like me) and article marketing which are free to very low cost. Also turn your customers into affiliates by rewarding them from referrals.
Do not pinch pennies on:
-Legal and accounting advice to set up your new business.
-A professional website...unfortunately, it's human nature that people judge based off appearances!
-Your business plan. Don't rush putting your ideas on paper and mapping out your journey to success.
Times are hard, but even the Great Depression yielded many millionaires...do your research and you might find that it's the best time to start your home marketing business as hard times create opportunities.
"It's human to stretch, to go, to see, to understand. Exploration is not by choice; it's an imperative." Michael Collins, Apollo 11
Should you Start a Home Business in Hard Economic Times?
By: Jeremy V Smith
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