It is too easy to take too much time off of work when you own your own work from home business. This article will help you stay focused and make a decent living from home.
If you have to drive a lot for your business, make sure you monitor your gas mileage and keep receipts for whatever gas you use. These are considered travel expenses and you can deduct them when you file your tax return. However, you do need to be able to verify that all expenses were in the interest of generating profits for the business.
Customers must be happy to become loyal. It is easier to generate income from repeat buyers than to attract new ones. Always make sure your existing customers are happy!
Make sure that your business phone line is separate from your private one. When running a successful business, you need to have a dedicated line and message that pertains to the business. You will also avoid issues with children or family answering calls without the professional tone you hope to set.
It is essential to know the cost of production for any products that you sell. Two times the cost price is the basic mark-up for wholesale. Retail pricing mark-up is twice the wholesale price. A fair price-point should adequately support you, but be well within the comfort zone of your customers.
Minimize interruptions from family while at home. Because getting interrupted is something that can make productivity go down, be sure people know when you’re going to be working and when you are finished for the day. Let them know that by giving you your much needed privacy, you will finish quicker, leaving you more time to spend with them. Also, you will need to have someone babysit your children during working hours.
Obey all your local laws. If you do not, you could get shut down as well as fined and that can be fairly embarrassing. Try not to anger neighbors either. In part, that means discreet signage and minimum noise and traffic. Ideally, you want your neighbors to be unaware that there’s a business next door.
Business Plan
Make a business plan for your online business. Small businesses need a good written business plan as much as larger businesses. This plan spells out what your goals are, the ways you will reach those goals and the resources you’ll need. You can consult your business plan to make sure you are working towards achieving your goals as your company grows.
Implement what you’ve just learned, and you should find success. Success depends on investing the necessary amount of time and effort into your new business. Simply because you work for yourself doesn’t make you a pro!
There are tremendous opportunities for small businesses and social entrepreneurs to support their communities through community foundations, donor advised funds and other means of giving back. Find the neighborhoods in Phoenix, Arizona where you can make the most impact on children in the community.