Home Business Buzz

One of the most common problems home based business owners run into is paper clutter.  It’s amazing how quickly a few brochures, business cards and notes can become an unmanageable heap of miscellaneous clutter.  I know because I’ve been there myself.  You don’t know where anything is, you miss deadlines and events, and it’s stressful just looking at the mess.

If it’s happened to you, you’re in good company.  This is how I nipped it in the bud.  I paid good money for this information and I’m giving it to you for free. That’s right.  I hired a professional organizer to help me with my home office and life was a lot easier after that. It’s valuable information, so pay attention.  It’ll make a difference for you and your earning potential.  I promise.

It’s called the RAFT system.  It’s easy and it works.  If you try it, you’ll find staying organized will become easier because it’s just not complicated.  You’ll need a three tray desk organizer, or 3 large pocket file folders to work with.  That will be enough because the only other item you’ll need is a trash can.  A large trash can is best and it should be conveniently located with your trays or folders exactly where you are receiving the incoming paperwork.  You can see how that will make it all easier, right?

There are 4 steps to this system and I’ll lay them out for you quickly.

1.  REVIEW -  Receive all your incoming mail and paper at a designated spot in your office, at your desk or at the area you’ve designated in your home to handle your business paperwork.  It just needs to be a landing spot that you use EVERY time. Remember, your 3 desk trays or 3 pocket file folders and your waste paper basket will be here as your friends.  The first tray or folder will be marked REVIEW and will contain everything arriving at your workspace.

2.  ACT  -  These are the bills to be paid, bank statement to be balanced, phone calls to be made or errands to be run.  Whatever needs be be acted on.  This is not junk mail to be looked at later or mail order catalogs you’ll never order from.  Put these items in the tray or folder marked ACT.

3.  FILE -  Paid bills, tax deductible business receipts, coupons you’ll use, take out menus and sports schedules.  This is the stuff you’re going to need to find later.  That’s right, put this stuff in the tray or folder marked FILE.  A couple of times a week you can quickly file these things.

4.  TOSS -  Everything else.  If you don’t need to act on it or file it for later, you really do need to toss it.  Let’s be honest with ourselves, ok?  The rest is junk and you don’t have time or interest in it anyway.  You’re not going to miss it.

The Result?  Your bills will be paid on time.  Your business tax receipts will already be organized when you need them.  The ugly clutter will be gone.  You’ll be able to find that important sales lead contact when you need it.  You can use your energies being creative or making sales or deliveries or whatever it is you do to make money from home.

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It may seem pretty obvious that it will be easier to get your new Home Business off and running if you’re organized.  That said, a few tips from someone who’s been there may be helpful to get started.  A little time invested now could save lots of stress and anxiety down the road.

First off, designate a special place in your home for your new business.  I cannot stress enough how essential this is for you.  If you have an entire room available, that’s great.  Clear it of unnecessary clutter and stock it with the office supplies you’ll need.  Start small because in time you’ll find out what you actually need to run your business smoothly.  A couple of pens, a notepad or spiral notebook, a phone and computer and printer may be all you need to start.

Many people aren’t blessed with extra space, however.  If you’re in that group, you’ll want to designate a corner in the basement, dining room or as a last resort, the bedroom will do.  Personally, I feel the bedroom is the last choice because you’ll be spending a lot of time at your workspace and may interfere with your partner trying to sleep.  Also, it’s hard to wind down and go to sleep when you’re still in the physical space where you’ve been working.  But that’s up to you.

If you must use a public area of your home and don’t have room for a dedicated work surface it will be necessary for you to easily clear your work away.  A box or plastic storage bin can be very useful.  If you must maintain lots of files you may need two or more bins.  They can be stacked in a corner out of the way until you need them.  A cabinet or even a chest of drawers work well.  That’s what I used at first.  Nobody knew my office supplies and files were in that little three drawer chest in the living room.  Handy, but out of site.

Secondly, I have found that a calendar is the most valuable tool I use, next to my computer.  I keep track of my appointments, meetings and events, phone calls, mileage, and business expenses in my calendar.  Your calendar will be invaluable at tax time.  They come in all sorts of sizes and formats.  I’ve tried the Franklin Covey which I enjoyed.  It’s more expensive but has more room for notes.  My favorite is the 5″ X 8″ size.  Less expensive and less bulky is the DayMinder or At-A-Glance calendar which I’ve used for several years.  I prefer the weekly format but they come in daily and monthly as well.  I leave it open on my desk at all times.  It’s great to review my activities for the next day and look ahead to make sure I don’t miss something important.

You may find you prefer to use an electronic calendar or one on your computer.  Outlook Express has one that some people swear by.  I’m partial to the hard copy which gets filed away with my tax info at the end of the year.

The final tip today is about time management.  There are 24 hours in every day and they pass by whether you are productive or not.  Allocate a block of time in your calendar totally dedicated to your home based business.  Try to be realistic.  It can be more difficult than you’d think to separate household and family activities from work when you’re physically in the home.  Interruptions are common and it’s easy to be pulled off task.  Be aware of this ongoing problem and make adjustments as necessary.

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Many home business owners find that they are required to be licensed either by their local government or by their trade. If you haven’t already considered this possibility you might want to do that now.

Typically, your community or city will require any business to be licensed.  If you plan to earn money at home this may apply to you.  There may be additional rules about customers visiting your home or pickups and deliveries.  A quick phone call to your local city hall should connect you with someone who will be able to spell out the rules in your area.

If you are required to have a business license you will be relieved to know it’s generally low in cost and very easy to obtain. Just fill out a little form and write out a check and you’re good to go.

If your business involves food, daycare, gambling, alcohol, or anything medical there will be additional licenses required.  This is an area you don’t want to neglect because your business could be shut down quickly and even permanently for failure to obtain a needed license. After all the time, energy and money invested in your effort to create an income it would be devastating to find yourself out of business.  Many other types of businesses will require special licensing and that call to your city hall could be very informative.

If you’re not sure what to ask just make a short list before you call.

Your comments could include:

• I’m thinking of starting a home business and I’d like to know if I’ll need a license.
• What will it cost?
• Will it have to be renewed and when?
• Are there any rules or regulations about what I can or cannot do from home?
• Is there any other license that I’ll need.
• Can I download a license application from online?
• Can I use a personal check to pay for the license?
• Can I send it in or should I come down to submit my application?

Another area to consider is insurance requirements for your home business.  Insurance can cover your business property as well as liability for damage to other people or their property.  Depending on your type of business, your homeowners insurance policy may be amended to include business coverage.  If not, a separate business policy may be required.  Call your agent with a list of questions similar to the ones above.  Don’t be afraid to talk with other agents if you’re not confident after speaking with your current agent.  Insurance quotes are free and can vary quite a bit.  The important thing is to compare apples to apples. Different quotes can include different limits of property and liability coverage so make sure that the limits are the same, if possible.  This will make it much easier to make a decision.

You should be more confident and sleep easier once these legal considerations are dealt with.  You’re going to feel more like a business owner when you conduct your home business like a business.

Technorati Tags: home business, starting a home business, legal, business owner

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No doubt you’ve already considered a name for your new Home Business.  One of the most important things any business needs is a name. Your name will be the very first thing that almost all of your customers see.

You have to pick a name that says something about you and your business, that people in your target market will remember easily.

One basic idea is to use your first or last name followed by what you do. Like Sally’s Socks and Stockings or Smith’s Gourmet Chocolates. You could also add the town where you live in to the name like Johnson’s Atlanta Computer Repair.

You can also leave out your name and simply become Atlanta Computer Repair. This makes you sound like the first choice locally and will help target your local area.

If your customers are going to be large companies you may want to consider a more corporate sounding name. Think of a word to describe your business then add the word “Consulting”.  This worked well for an engineer who provided services to power companies and wanted to sound professional.

If you’re going for a trendier market you might want a less formal name. You may want to name your business after an animal, and use that animal in your logo, too. Without a big marketing budget, this is a great way to get started branding your home business.   Geico is a great example of this. They use that cute little gecko lizard on everything. What do you remember when you think of car insurance?

Try a short name. Take two or three words that describe your business then shorten them to make it one word. So you end up with IHOP (International House of Pancakes) This is a great way to express what you do without having a long hard to remember name.

And, when nothing else seems ti come to mind you can make up a name. Just play with your words until you come up with a name that sounds right and the best part is it will be completely unique to your business.  Just don’t get too cutesy.

Whatever you do make sure your business name is easy to pronounce, spell and remember. Once you have a few names picked out make sure you verify no one else is using them. You don’t want to order business cards and then  find out that the name you want is taken.

If you’re going to have an online presence grab a domain name right away.  If your own name is involved in your business name that is really important.  Mine was already taken by someone who isn’t even using it.  So don’t procrastinate on this.  You need a name so just go ahead and select one.  Your new home business will be up and running.

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