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How To Start A Business
Be Your Own Boss

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 * About Brian
 * Good Business To Start In 2020
 * Business Necessities
 * Creating Wealth

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LAYED OFF, FIRED, DOWNSIZED


FED-UP WITH WORKING FOR OTHERS?


TIME TO START YOUR OWN BUSINESS


RESPONDING TO A PANDEMIC:


AN INCREASING NUMBER OF RECENTLY LAID OFF EMPLOYEES ARE EMBRACING THE MOMENT AS
AN OPPORTUNITY, AND ARE ASKING HOW TO START A NEW BUSINESS.

By upending nearly every aspect of society, Covid-19 has created opportunities
for a vast range of new businesses, from personal protective equipment vendors
to cleaning companies. 

This website is dedicated to showing people how to start a home-based business
with limited funds. Thru different guides, Brian will explain the nitty-gritty
of launching a home-based  business.

Brian is a business owner with 50+years of experience being self employed and,
as such, offers lots of incite into what it takes to start your own business..

 


WHAT YOU NEED TO SUCCEED:


I GUESS MOST PEOPLE STARTING OUT EXPECT IT TO BE IMPOSSIBLE TO START THEIR OWN
BUSINESS. NOT SO, BUT THERE ARE A FEW THINGS YOU NEED TO THINK ABOUT BEFORE YOU
PROCEED.1ST, YOU HAVE TO KNOW WHAT YOU ARE DOING. YOU WOULDN’T START AN
EMBROIDERY BUSINESS IF YOU NEVER EVEN USED A SEWING MACHINE.



 * Do you have the energy needed?
 * Do you have the stamina needed?
 * Will you “stick to it” if the going gets rough?
 * Do you have any support? I little goes a long way, and negativism can kill
   ya.
 * Do you have the personality needed? Some businesses require more people
   skills that others do.
 * Are you willing to put in the time?
 * Above all – Are you willing to except responsibility for your actions and the
   actions of any employees?

More



WHAT YOU NEED TO SUCCEED:


I GUESS MOST PEOPLE STARTING OUT EXPECT IT TO BE IMPOSSIBLE TO START THEIR OWN
BUSINESS. NOT SO, BUT THERE ARE A FEW THINGS YOU NEED TO THINK ABOUT BEFORE YOU
PROCEED.1ST, YOU HAVE TO KNOW WHAT YOU ARE DOING. YOU WOULDN’T START AN
EMBROIDERY BUSINESS IF YOU NEVER EVEN USED A SEWING MACHINE.



 * Do you have the energy needed?
 * Do you have the stamina needed?
 * Will you “stick to it” if the going gets rough?
 * Do you have any support? I little goes a long way, and negativism can kill
   ya.
 * Do you have the personality needed? Some businesses require more people
   skills that others do.
 * Are you willing to put in the time?
 * Above all – Are you willing to except responsibility for your actions and the
   actions of any employees?

More


A FEW THINGS TO THINK ABOUT


I GUESS MOST PEOPLE NATURALLY START OUT HOPING  TO GROW INTO A BIG COMPANY
MAKING TONS OF CASH. IF YOU HAVE THE KNOWLEDGE, BACKING AND SUPPORT TO START BIG
YOU WILL PROBABLY WANT SOME HELP FROM THE SBA (SMALL BUSINESS ASSOCIATION).
ESPECIALLY IF YOU WANT GOVERNMENT FINANCING. IF YOU GO THIS ROUT, BE PREPARED
FOR A TON OF PAPERWORK.

On the other hand, if you are just starting out, and want to test the waters
first, things will be a lot less complicated.

At this point, you must already have some talent you plan to build on to start
your business. If not, here are some ideas to wet your whistle.

Will you need a business or occupational  license?  Each State and each
municipality has their own rules. Stay under the radar at first by getting input
from others in your field about what is needed.

For instance, in 1980 in Florida, in order to become a home builder, you had to
have a builder’s license which required 5 years of provable experience or a
college degree of some kind. Then you had to pass an exam administered by the
local authorities.
But, in Pennsylvania, there is no testing and no occupational license needed
unless you make over $5,000.00 / year. (Subject to change, so don’t take my word
for it).

You will be expected to keep good records and pay the appropriate taxes, both
personal and business income taxes.

Will this be a part time or full time adventure?

Is there a market for what you want to do?

More


FROM HOBBY TO BUSINESS


MANY HOBBIES CAN BE TURNED INTO A BUSINESS WHERE YOU EARN QUITE A GOOD LIVING.
THE GOOD NEWS IS THAT IF YOU HAVE INTEREST IN A PARTICULAR SUBJECT, THAN
TRANSFORMING IT FROM A HOBBY TO BUSINESS IS QUITE EASY AND THIS WEBSITE WILL
START TO SHOW YOU HOW.

If you have tools that you are using in your hobby, you are ahead of the game
already.

The kind of tools that you will need for your business will depend on the type
and size business you are planning. If you want to start a small woodworking
business for instance, then having simple hand tools will prove to be adequate.
On the other hand, if you wanted to have a large scale production then you would
need to plan on purchasing heavier machinery. Make sure that the space you plan
to use is adequate.

You need to clearly marke out your niche. You might need to copyright any
products you make to avoid cases where people can steal your ideas for their own
benefit.

If you are going to be selling items, you will need a “license to collect tax”
from your state.

If you are using a fictitious name (something other than your own 1st or last
names), that will have to be registered with your state.

Make sure you advertise. Know that you are no longer doing your hobby just for
the fun of it. There are many ways that you can advertise your business. These
days, EVERY business uses the internet in one way or another. Using the internet
means you will need you to put up a website. A website allows you to display any
products or explain the extent of your services without the need for a
store-front or office. With the website you will be able to tap into potential
markets that extend far beyond your local neighborhood. More about websites
later.

Of course you can also make use of word of mouth. Inform your friends and
neighbors of your business. This is a very inexpensive way of getting your word
out there.

Perhaps have flyers or door-knockers made up to pass around you neighborhood.

Use the internet to get check on your competition, to help determine what you
need to do to keep competitive in this ever changing world. 

As your business grows (Or maybe event to just get started), you may find a need
for capital.  Here’s a guide to help you get started along that path.

More



FROM HOBBY TO BUSINESS


MANY HOBBIES CAN BE TURNED INTO A BUSINESS WHERE YOU EARN QUITE A GOOD LIVING.
THE GOOD NEWS IS THAT IF YOU HAVE INTEREST IN A PARTICULAR SUBJECT, THAN
TRANSFORMING IT FROM A HOBBY TO BUSINESS IS QUITE EASY AND THIS WEBSITE WILL
START TO SHOW YOU HOW.

If you have tools that you are using in your hobby, you are ahead of the game
already.

The kind of tools that you will need for your business will depend on the type
and size business you are planning. If you want to start a small woodworking
business for instance, then having simple hand tools will prove to be adequate.
On the other hand, if you wanted to have a large scale production then you would
need to plan on purchasing heavier machinery. Make sure that the space you plan
to use is adequate.

You need to clearly marke out your niche. You might need to copyright any
products you make to avoid cases where people can steal your ideas for their own
benefit.

If you are going to be selling items, you will need a “license to collect tax”
from your state.

If you are using a fictitious name (something other than your own 1st or last
names), that will have to be registered with your state.

Make sure you advertise. Know that you are no longer doing your hobby just for
the fun of it. There are many ways that you can advertise your business. These
days, EVERY business uses the internet in one way or another. Using the internet
means you will need you to put up a website. A website allows you to display any
products or explain the extent of your services without the need for a
store-front or office. With the website you will be able to tap into potential
markets that extend far beyond your local neighborhood. More about websites
later.

Of course you can also make use of word of mouth. Inform your friends and
neighbors of your business. This is a very inexpensive way of getting your word
out there.

Perhaps have flyers or door-knockers made up to pass around you neighborhood.

Use the internet to get check on your competition, to help determine what you
need to do to keep competitive in this ever changing world. 

As your business grows (Or maybe event to just get started), you may find a need
for capital.  Here’s a guide to help you get started along that path.

More



DO I NEED TO INCORPORATE?


THERE ARE 4 TYPES OF BUSINESS ENTITIES.


SOLE PROPRIETORSHIP, LLC ( LIMITED LIABILITY CORPORATION ) CORPORATION AND
NONPROFIT.



Sole Proprietors  are expected to report all business profits as personal
income, and they pay self-employment tax on those profits, to cover Social
Security and Medicare. (When you are employed by someone, they pay 1/2 and take
the other 1/2  out of your pay).
Sole proprietors are personally liable for the debts of their business. If the
business is sued, your house, savings, and other personal assets are at risk.
Corporations  are required to have a board of directors which helps give the
appearance of being more stable, giving them more clout—which sometimes makes it
easier to do business with other companies.
It may be easier to raise funds by appealing to investors who may prefer
corporations for their ability to offer stock. Bank loans may be more available
as well.
LLCs aren’t required to have a board of directors or shareholders so you have
more options in setting up your management structure.
An LLC protects you and your personal assets—including your car, home, and bank
accounts—from liability if your business is ever sued or incurs debts.
With an LLC, you have a choice as to how you’ll be taxed. By default, LLCs are
taxed as pass-through entities, but you can decide to be taxed as a corporation
or an S corporation.

When my brother and I went into business, we chose an S corporation, thinking it
would shield us from personal liability. We soon found out, as a new business,
all our creditors required that we sign for debts “Personally” so it really was
not worth all the hassles involved with  incorporating….setting up a board of
directors, having quarterly meetings, and filling out the quarterly reports. The
income tax responsibility for S Corps flows through the corporation to the
shareholder and shows up as income on their taxes. For this reason, S corps
aren’t subject to corporate income tax. So it’s the same as a Sole Proprietor as
far as taxes.

Nonprofits‘ members and directors are shielded from personal liability for the
nonprofit’s actions.

As a nonprofit you’re eligible for state, federal and certain other income tax
exemptions.

Qualified nonprofits can receive grants from other nonprofits and government
agencies. Contributions to qualified nonprofits are deductible on the donor’s
income tax returns.
 
More


MARKETING YOUR SERVICES


AS A LONG TIME ENTREPRENEUR, I KNOW THAT THE BEST WAY TO MARKET ANY BUSINESS
ONLINE IS TO BE FOUND AT THE TOP OF GOOGLE’S, BING’S, YAHOO’S OR ANY OF THE MANY
ORGANIC SEARCH ENGINE RESULTS PAGES (SERPS)

As I mentioned above, these days, EVERY business uses the internet in one way or
another. Using the internet means you will need to set up a website. A website
actually makes it easier to start a business these days because it allows you to
display any products or explain the extent of your services without the need for
a store-front or office.

Each business will need to decide, for themselves, how extensive a site is
needed in order to win over potential customers.

Some businesses just need a place to send people in order to show them a
particular piece of information. In these cases a very simple site will work.

Other businesses will require a more sophisticated site in order to assemble a
lot more information for clients and potential clients.

Having a website does not mean your site will automatically be found when people
search on-line for your type of product or service.

 * If searchers know your name and search for it by name, you might have a
   chance of being found…but usually, instead, people do a generic search for
   the type of product or service they want . If you haven’t noticed yet, there
   are hundreds, thousands and even millions of websites competing for the
   attention of the same prospects you are hoping to attract.
 * There are things that are needed to be done to improve your chances of being
   found in an on-line search.

Many companies are charging thousands of dollars for a basic website. My first
website cost me $5,000 just for the front page and, after that, I had to learn
how to add, ALL my own content.

Not only are many companies charging thousands of dollars just for a website,
but they are also charging Hugh hourly rates each month just to maintain the
site. Now, keeping up with technology and the constant menace of online hackers
and staying ahead of the competition does require maintenance, so you’ll want to
hire a company that can make everything as affordable as possible.

More


YOU PROBABLY WILL NEED A WEBSITE DESIGNER


MY WEBSITE DESIGN COMPANY CAN BUILD A REALLY NICE PROFESSIONALLY DESIGNED
WEBSITE FOR AROUND $350.00. IF YOU JUST NEED A BLOG, THAT WILL PROBABLY BE ALL
YOU NEED.


A FEW SMALL BUSINESS SITES I HAVE DESIGNED

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