by: Marilyn Angelena
Home-based women entrepreneurs nowadays are on the rise. The comfort and ease of being able to work from home is what makes it all appealing, plus, more and more women are now looking in to their hobbies and turning them into real life businesses.
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By Erin Alli
Do you know how to put a good, strong foundation into your business so you can start to see success right away?
When starting a business you need to decide what type of business you are going to have. Is it going to be a sole proprietor, LLC or corporation? This is entirely up to you.
Some things you want to consider first when starting a business are:
Once you have thought about those things you will be able to make a better decision on what type of business formation you want to have.
Next make sure there is a market for what you are offering. Think of keywords that describe your product or service and go to Google and see what you find. Look at the sites that come up and see what they are offering as well. This will give you a place to start with how to best get your offering out there. Don’t think of everyone as competition. There is plenty to go around and you have to remember that you are unique so what you are offering is always going to be different from someone else, even if it seems similar. Look at this part as a learning experience.
Make sure your business name is registered with the state. Then use that name exactly if possible or a close variation as your domain name.
This is the start to setting your foundation to build on. Your house has a foundation and so should your business model!
By: Christopher Boulanger
Saving and investing your money is important in today’s unreliable economy. A portion of the money you receive from any source should be set aside in a savings or investment account. Many people mistakenly believe that only money from their jobs count as investment or savings eligible money. However, that is not the case. There are many other places to get the money you need to start saving and investing for your future.
The majority of people spend extra (non-work) money they receive as soon as they get it. But if you opt to save or invest some of it instead, you can watch it accumulate in value over the years. The next time you find yourself with extra money derived from unexpected sources (maybe a Christmas gift, or a buddy repaying you for a loan), save a small percentage of it.
Another way to get money to save and invest is by cutting back on unnecessary expenses. You can pinpoint the areas that can be cut out or reduced from your budget by putting all of your spending habits on paper. Jot down everything you spend your money on monthly, then, mark the things that you can do without.
Once you have identified wasteful spending, calculate the amount you will be able to save or invest. Most people spend on impulse without even taking into account how much money they could save. Even the smallest of changes can save you hundreds of dollars or more each year, which translates into thousands of dollars with added interest or return on investments.
There are many types of savings and investment opportunities available. Research and plan your strategies beforehand. When you are ready to start investing and saving money, review the different options carefully. Some investments may be risky, while others pose less of a threat of money loss. Many of the riskier investments, such as entering into the stock market, have the ability to make more money in a short amount of time. When the risk for loss is significantly less like with a Certificate of Deposit (CD) or savings account, it can take months or years before you see a return on your investment. If you are planning towards long term goals, such as retirement, you may find the less risky ventures more appealing but be clear about your timeframe. If you want to buy a house in 5 years, then you will need a higher rate of return in the next few years; but if you are thinking about a college fund for your newborn then you can take a 10-15 year perspective and go for a smaller annual return.
Beginning a well thought out savings and investment plan will pay off in the long run.
