This Article is About
5 steps
aging parents
business from home
problem solver
business ideas
companionship
carpentry
business plan
interior design
home business
talents
companion
5 Steps To Starting A Business From Home
Join 1000's of Authors at StreetArticles Today!

The 5 steps to starting a business from home are: first, making a list of your skills and talents; second, study the list to generate business ideas; third, check local and online markets to see what people are looking for; fourth, make a business plan and calculate your profit potential; fifth, put your plan into action. If the type of business has already been decided, then going through these steps will help in organizing the business and deciding where certain talents can be used within the business to make it better.

When starting a business from home, the first thing that needs to be done is to make a list of all the skills and talents you have that could be used to help someone else, provide a service or make a product. Everything should be included on this list. If there are going to be partners in this home business then both partners should make a list. Include skills like carpentry, interior design, and glassblowing, for example. Also include talents like good with people, problem-solver, and stays organized, for example.

The next step in starting a business from home is to generate business ideas. Look at the list of skills and talents and see how they might fit together. Good with elderly people and patient might fit together to make a business being a paid companion. This is a home business that has emerged from a generation with aging parents who need companionship but their children are busy professionals who don’t have the time.

The third step is checking local and online markets to see what people are looking for. This step could actually be done in conjunction with the last step, because finding a market often spurs the idea of a business from home which will answer the needs of that hungry market.

The fourth step is essential in starting a business from home. The profit potential must be calculated and a business plan must be made. To calculate the profit potential, all the expenses must be taken into consideration. Does a home business license need to be purchased? What are the advertising costs, if any, and what materials or supplies need to be purchased? The cost of the expenses must be subtracted from the revenue to calculate the profit. Generally, the cost of starting up a business from home that sells products is much greater than the cost of a business from home that sells services.

A business plan for starting a business from home doesn’t need to be long and complicated. It should have some essential elements, such as defining the business strategy, identifying competition, organizing, analyzing, and marketing procedure. The purpose of the business plan is to grow the business from seedling- the idea- to flourishing money maker. The old saying of plan your work and then work your plan is very relevant here.

Once the first four steps are completed in the process of starting a business from home, the fifth step is much easier to carry out. Putting the plan into action is the last step. For some people planning is easy and doing is not so easy. The important thing to remember is that it is in the doing that the income is created.


Street Talk

No comments present
You May Also Like
5 Steps To Make Hip Hop Beats
Today we are teaching how to make hip hop beats! So sit back, get your creative juices flowing and let's do this! We will go over five steps that need to take place in order to get you on track to making a hit song! Step One to Make Hip…
By: Tim Hooper in  Arts and Entertainment  >  Music Industry   Dec 05, 2011  
0
  Likes: 0

5 Steps to Great Compost
Composting is a great way to help reduce your impact on the planet. It saves you money, and you can use it in your vegetable garden. Some people can even sell it. Apparently 23% of all household rubbish in the US is stuff that could be composted - it's an…
By: Richard Tui in  Home and Family  >  Gardening   Sep 18, 2012  
0
  Likes: 0

Are You A Giver Or A Taker? 5 Steps to Become A Giver
This is one thing I try to ask myself on a daily basis. I want to be a giver, not a taker. Why, you may ask. Well, I find that being a giver is much more rewarding than being a taker. This is not to say that when you given…
By: Joyce aka Nana in  Self Improvement  >  Inspirational   Nov 10, 2012  
5
  Likes: 1

5 Steps To A Better You
You can make huge strides to a better physical and mental well being by following through on some small resolutions. And if you know that you want to improve on say your health and lifestyle, you most definitely can be on your way if you follow these 7 steps to…
By: Ronald Colona in  Self Improvement  >  Personal Growth   Jul 27, 2013  
1
  Likes: 2

5 Steps to Becoming the Best IT Professional
What are the 5 steps? Learn Read logs Research Protect Data Be decisive What is an IT Professional? IT Professional is just a blanket term to cover a variety of IT positions. Positions such as Systems Administrator, Helpdesk Engineer, Support Engineer, Network Engineer, etc... What makes you think I have…
By: Ryan Davies in  Computers and Technology   Feb 23, 2012  
0
  Likes: 0

5 Steps to Better Organization In the Bathroom
In the home, the bathroom ranks as the most visited room. It will require daily attention because, if not, the room can become a disorganized mess quite quickly. While no one would ever suggest the bathroom is the most fun room to clean or organize, anyone who follows these five…
By: Nicole Alan in  Home and Family   Jul 31, 2013  
0
  Likes: 0

5 Steps To An Easy Article Writing Campaign
I started writing articles for an article marketing campaign about a year ago in an effort to drive traffic to a site I had developed. I had never thought much about writing before, so it was all new to me. Over the year though, I have learned some methods that…
By: Scott10 in  Internet and Businesses Online  >  Internet Marketing   Nov 22, 2012  
4
  Likes: 1

5 Steps To Success In Affiliate Marketing
If you're really serious about finding out more about affiliate marketing then read all this article. For new people coming online hoping to make some extra cash, quickly find out about the probability of doing affiliate marketing, and hope to make their fortune. Sadly most fail, because they dont' understand…
By: Len Cecchetto in  Internet and Businesses Online  >  Affiliate Revenue   May 28, 2011  
0
  Likes: 1

Curing Back Acne – 5 Steps To A Clear Back
Curing back acne is hard without the proper knowledge and instruction. The most difficult thing about trying to get rid of acne is that there are so many different ways that people recommend, making it more confusing than it needs to be. So, here the 5 steps that I've used…
By: Michael Gutierrez1 in  Health and Fitness  >  Acne   Jun 08, 2011  
0
  Likes: 10

5 Steps to Easy Affiliate Marketing
Affiliate marketing can seem so complicated to a person just starting out in internet marketing. Is there really such a thing as easy affiliate marketing? Actually, it can seem complex to someone who has been around for a while, as well. There are so many big name gurus pushing their…
By:  in  Internet and Businesses Online  >  Affiliate Revenue   May 20, 2011  
0
  Likes: 0

5 Steps to Overcome This Problem - My Ex Is Sleeping With Another Guy
If you're in the unhappy situation of saying "my ex is sleeping with another guy," here are five tips that will help you deal with the pain and get back on the road to reconnecting with her.1. Accept the jealousy and pain.Realize that there is nothing you can do about…
By: Max Grimnar in  Relationships  >  Conflict   Nov 15, 2011  
0
  Likes: 1

Own an online business : 5 steps to get you started
Many would be entrepreneurs fail because they think they can’t afford to start. Wrong! Just about everyone can afford to own an online business. It’s the perfect option if you’re starting out because there is no risk or overhead cost. It’s not the easy way out (I assure, be prepared…
By: bek in  Internet and Businesses Online   Apr 11, 2011  
0
  Likes: 0

Make Money Affiliate Marketing - 5 Steps To Success
As we speak there are literally thousands of people all around the world doing affiliate marketing either full or part time and making money from it - whether it is a few dollars a week to help fund those little extras or tens of thousands of dollars every month, and…
By:  in  Internet and Businesses Online  >  Affiliate Revenue   May 05, 2011  
0
  Likes: 1

5 Steps To Exorcising Your Ex How To Get Rid Of The Demons Of Relationships Past
Getting over a past relationship can be difficult. Your memory will be haunted for months, even years, after you have broken up with your ex boyfriend or ex girlfriend. It will take some work getting past this relationship. These five steps are going to help exorcise your ex. Although it…
By: Garry2 in  Relationships   Dec 26, 2011  
0
  Likes: 0

5 Steps to Get Your Ex to Want You Back
After a breakup, it is just normal to feel hurt and long for your ex boyfriend. Even if it was him who dumped you when you think you have not done anything wrong, you will have to feel the need to see and be with him from time to time.…
By: John Jarvis in  Relationships  >  Reconnecting   Dec 29, 2011  
0
  Likes: 1

Article Views: 1526    Report this Article