Follow My Home Based
Business Start Up Checklist

Things You Need To Know To Start-Up a Home Business

Having a checklist for a home based business start up is a great idea to ensure that you don't miss out on any vital set-up points.

So here we shall discuss the general points on what you need to do in order to start-up in any business.

But please bear in mind that you might have to go into more depth depending on what type of business you are actually setting up.  

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But a general guideline, on what I am giving here, can only be helpful.  You might even come across a home business startup idea that you never thought of!

The following points are in no particular order as they all need to be carried out in preparation for your business to start trading.

Most of these points show an overview, then lead to a link to a full page describing each one in a bit more detail.

I would either write these down or use an excel spreadsheet to set-up your own home based business start up checklist.  

You can then keep track of what you need to do, when and how much it's going to cost you.

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 Your Business Plan

A business plan is essential for two main reasons.  

1) If you need to acquire funding from your bank or a grant;

2) To act as a 'guideline' to see where you want to go with your business and to see if you keep on track.

>> Go to creating a business plan

 Your Marketing Plan

Read this corner if your not sure exactly what is marketing? Once you fully understand what marketing is, then you will understand how vital it is to prepare in advance with your marketing plan.

My own personal point of view is that I truly believe that a business either succeeds or dies based around it's marketing plan.  This is how important I consider this point to be as one of your 'top priorities'.

>> Go to creating a marketing plan

 Home Business Tax

Everybody needs to register with the Inland Revenue.  No matter what country you reside in.

For example, in the UK you have to register your business within three months of your business trading.  

Learn about registering with the Inland Revenue, and how tax deductions affect you as a home based business owner.

>> Go to home business tax

 Home Business Funding
 
Every new small business needs a little help with their financing for setting-up.  Don't worry as there are options available to you.

It obviously depends on your type of business and personal circumstances, but it's worth investigating to see if you are eligible for any money - every bit helps!

>> Go to small business funding

 Accounting & Software

Yes, you need to do your own bookkeeping/accounting.  If you have the funds at the offset, then invest in a good bookkeeper/accountant.

If not, then you will need to know the basics at least.  This was the most tedious part for me running my own business to be honest, but it still has to be done.  In fact, it is one of the most important admin jobs there is!

After all, you need to know your income from your expenditure to see how much profit you are making - and unfortunately how much you have to give to the tax man (Uncle Sam in the US I believe...).

>> Go to home business accounting

 Home Based Business Insurance

Another vital ingredient to the home based business start-up process.  You need to be insured for every liability that you will be open to.

You really don't want to leave yourself open to anything that you could lose/damage and not get your money back, or even worse, some nasty person could take you to court and try to sue you (for whatever reason).

You need to be prepared in advance for these kind of damages.  Here we shall discuss the different types of home based business insurance you might need.

>> Go to home business insurance

 Open A Business Bank Account

You really should open a business bank account as you need to keep your business and personal finances separate.

Shop around for the best deals.  In the UK new small business owners get free business banking for at least the first 12 months, some banks offer 18 months of free banking.

 Your Home Office

For me, this was the most easiest and fun points of the home based business start up checklist. Making your home office fully-equipped and comfortable.

Here we shall discuss what you need as your basics to get you started whether you are doing the admin yourself, or you have somebody to do it for you.  

>> Go to home office set-up


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