Just as you can not be all things to all people in your product or service offerings of your business, you can not wear all the hats in running a business. Make the most of every hour you have available to you – When Chris Orrell was starting up his company offering cheap hotel rooms to employees of large firms, he would go down to the car park every lunch hour to make calls to potential clients on his mobile phone.
When listing out your startup expenses for a home-based business you will need to figure in the costs of a business license or company registration, setting up a work space, equipment for basket preparation (paper shredder, shrink wrapper etc), office equipment, website development, logo design and initial marketing and advertising costs.
Before you start a business, you should be absolutely clear about why you are doing it. That may sound obvious, but there are actually many reasons why someone should choose to turn their back on the security of a job and career for the uncertainty of starting a business.
Your company name does not have to be the same as your trading name, for instance: your company name could be Generic media group Ltdâ€ and you might trade under different names for various products the company owns such as Business magazine, Agriculture magazineâ€¦â€ It depends on your plans, but it can be useful to have a name different from your product or service if you intend to launch other areas of the business, products or services.
Take a unique spin on your local tour business like Erik from Vantigo He was starting his VW van tour business in San Francisco as just a side business idea while he was still working a full-time job, and grew it to being a sustainable source of full-time income before quittingâ€”now he’s running a multiple van tour company on the back of what originally began as a crazy side business idea.