Know the Cost of Doing Business at Home
I’ve helped several hundred people get started in their own home business. Not one of these people failed. Several went on to earn more money each year from one home business than I earn from all my many activities. As I tell these more successful ex-students when I meet them “I’ll be over to negotiate a loan!”
What is the outstanding characteristic of these highly successful home business operators? It is this:
The big successes in a home business are achieved by those people who know the cost of doing business at home.
Is the cost of doing business at home high? Most people don’t think it is. Let’s see if you do.
To start your own home business you’ll generally need these
Items:
Business registration $ 25
Letterheads and envelopes 100
Pencils, paper clips, stapler 8
Cardboard file 4
Total $137
Thus, you need only a small sum — $150 or less — to start your home business. The registration fee, shown here as $25, could be higher or lower, depending on where you live. It seldom exceeds $25 and can be as low as $1. You can easily start your home business on money you save from your regular salary.
In some businesses you must, of course, invest in some inventory—i.e. in items you will offer for sale. To keep your starting cash as low as possible, I recommend:
(1) Obtain orders before you invest in inventory.
(2) Use borrowed money for inventory purchases.
Tags: Business