Plan for the unexpected. It never fails that things are going along smoothly, then BAM, a home based business owner gets broad-sided with something they never dreamed would happen. It could be anything from a flooded basement where they have their home based business office to the computer getting struck by lightening–or just an electrical outage at the busiest time of the day. So take the time to make back up plans for every eventuality. This doesn’t mean you have to become pessimistic in your outlook, just that you have a backup plan for most any emergency that may come along. Having a plan means you’ll be prepared just in case.Have money put aside. When your home based business profits are pouring in, it’s easy to let your spending get out of hand. Then when the computer does get struck by lightening, you don’t have the money for needed repairs. So you need to put aside some money each month while you’re growing your home based business to help you through any bad times you may have–and you will have them. Every business, home based or otherwise, has good times and bad. Having the financial resources to see you through them is essential to keeping your home based business operating, and growing.Use your time wisely. With a stay at home business, it’s easy to get distracted by the television, the telephone and the family. It’s also easy to let paperwork slide. A lot of home based business owners become like Scarlet in Gone with the Wind and think there’s always tomorrow. What happens is when things pile up, a home based business owner can easily get overwhelmed. After all, there’s no one else to take care of things. So make sure you organize your time, make a schedule–and stick with it.Get and keep your office organized. Home based business owners don’t have time to waste. And an unbelievable amount of time is essentially thrown away when you have to spend precious time looking for things. Organize your home based business office so that it maximizes your efficiency. Little things like making sure you always have a pen and paper by the phone can save an enormous amount of time. Also, having a good filing system is vital for the same reason: the time you spend looking for things you need is time you could be spending attending to business.Make sure you have insurance. This is crucial in case something should happen to your home based business inventory or equipment. A home based business can afford not to have the proper insurance. That basement flood mentioned earlier could easily put you out of business for good unless you have insurance. So you want to have the best insurance you possibly can, even if it means scrimping on other expenses. If you don’t already have it, get on the phone or go online and get adequate insurance as soon as possible.Plan for taxes now. If you haven’t already discussed your taxes with an accountant or other home based business financial advisor, you want to do it as quickly as possible. And you want to check in with them frequently to make sure you stay up to date on important tax laws that may affect your home based business. You want to be sure you’re setting aside enough money to pay your taxes and you also need to know if you should be filing taxes yearly or quarterly as many self-employed people do. Also, if your home based business has employees, you’ll want to make sure you’re withholding the right amount of taxes for them as well. Taxes are a fact of life and the sooner and more efficiently you plan for them, the better off your home based business will be. The last thing you want is for that tidy little nest egg you’ve saved for your home based business to be gobbled up by the tax man!Charles Fuchs

http://www.charlesfuchs.comm

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Thousands of people have a desire to start a home based business opportunity and many of them actually step into it without actually understanding it well. Some of the goals set by people while starting a business are very illogical and unrealistic. This approach has cost many people a lot of money and even their businesses. Many small startup businesses ceased to exist after year, that is if they last that long.Before setting your goals, you must consider your budget, the scope of your business and the customer base that you will be able to build, especially in the beginning. Most importantly you will need to consider the expenses which you will incur until your business starts giving profits. Life goes on even if your business does not.The least you can do is make additional arrangements for your expenses until your business matures and becomes popular with the customers.How it will affect youConsider this, you are aiming to raise your monthly income to $2000 the first month of your home based business start up. You plan your expenses and make plans accordingly. However, half way into the first month, you find that you are not even able to raise half that money.Now, not only are you unsuccessful in reaching your goal, but your future plans are also put in jeopardy and you have to work even harder to create a completely new plan and strategy. This will result in a lot of wasted time and effort for no real gains.On the other hand, if you realize that it will take some time for you to get people to know about your home business and get it off the ground, you will set the bar low and you will most likely be successful and grow in confidence, having achieved your goal.What about perception?If you set over the top goals, your customer’s expectations are also raised. However, if you are not able to meet your goals, the credibility of your business takes a beating and you come across as unprofessional in your work and you are likely to lose your business.By setting realistic goals and projecting those goals to your customers, you are more likely to meet them regularly and satisfy your customers. Honoring your commitment made to your customers is the most important factor that will help you gain their complete trust and thus enhance the prospects of your home business.To be successful in a home based business opportunity, you must understand that you cannot achieve success in a month or two. You must take your own time learning things and setting lighter goals in the beginning and as you grow in experience you will feel more comfortable handling heavier workloads and achieving your goals faster.