When small business owners who have their home-based enterprises think of buying a new car that is to be used by the business, they always confront with the dilemma whether they need individual or commercial vehicle insurance. In many cases the coverage provided by personal policy carried by business owners provide just the right amount of coverage to have the vehicle protected. Still, for home-based businesses the picture might be quite different
Insurance experts agree that it depends on the exact purpose of your vehicle’s use in the business. If you’re a real estate broker, for example, and simply drive to work from home, taking clients with you on occasion then you don’t need commercial auto insurance since your personal policy will be enough to cover any costs. However, if you have a regular delivery of products with your car or take passengers all the time as a part of your job then you will have to purchase commercial auto insurance, since the vehicle will be regarded as a part of your business assets and has to be covered respectively.
For home-based enterprises it’s very important to have the third party liability limits in check in order to assure that both personal and business assets are covered properly. Because of this, the amount of your liability coverage and your deductible are the main variables that will determine the cost of auto insurance for your business. The larger is the amount of coverage and the lower is your deductible, the more you will have to pay for insurance in premiums. And don’t forget about your yearly mileage, driving record and the list of persons who will operate the vehicle – these factors will also affect your insurance premiums.
In order to lower the risk for your business, your liability coverage limits should be higher with a commercial insurance policy as compared to an individual policy. As a business, you may be subjected to larger claims, because the other party involved in the accident can follow you both as an individual and as a business. Because of such vulnerability, car insurance quotes for commercial auto insurance tend to be higher when compared to individual policies with the same coverage amounts.
In case your business involves taking a lot of equipment with you while you’re driving the car, and you also have a homeowners insurance policy, your equipment will have a certain amount of coverage. Still, in case if the value of the equipment is rather high, your car and home insurance policy can provide too little coverage, so you’ll have to buy a rider and get additional coverage amount for your equipment. A typical business owner insurance policy will cover damage and liability in the amount of up to $10,000. If this is not enough to replace your equipment in case it gets destroyed, then you definitely have to buy more coverage.
Commercial auto insurance goes by the same rules as any other form of insurance. If you want to get better rates, you should check car insurance quotes and do some comparison shopping with different companies. However, keep in mind that you will have to get car insurance quotes with respect to your higher liability limits. Don’t strip down the policy to the bare minimum as your business may depend on it.
Once upon a time the American dream consisted of the ability to go out, get an education and actually be able to support yourself and your family. Yeah, little things like freedom from tyranny and religious diversity factored in there, but the bottom line is that we as Americans have always lived in the land of prosperity and promise. Wealth on demand is nothing new! It’s just that now we’re spinning it through the web instead of wheeling and dealing it from the back of a cart or the front of a board room.
It’s nothing to go out on the web and find a home based business system. There are literally thousands of them out there, perpetuated by the thousands of affiliates that work with them! If all of these home based business systems are so successful, however, why aren’t these people millionaires? What’s stopping everyone from kissing their day job goodbye and making a fresh start out on the web or through offline sales?
The only thing stopping them is the fact that their “proven wealth on demand” isn’t proven at all!
Most home based business systems are based on lies and propaganda. It’s the sad truth. There are plenty of companies out there that have the potential to make money on the Internet. When you get right down to it, all of them have the potential to make money, both on and off the web. Hey, a guy got famous selling Pet Rocks! The problem is, many online companies have figured out that it’s easier to make money off subscription fees than an actual product or service, and they’re milking that for all it’s worth.
If you’re going to live the American dream and enjoy wealth on demand from a real, proven home based business system you need to find one that doesn’t require you to front half your life savings, push memberships that no one needs or offer you big bucks on commission-because let’s face it, when you’re marketing a home based business system to millions of people all over the world the chances of you finding a proven system that’s going to bring in hundreds of thousands of dollars a month in commissions within the first seven or eight months is pretty slim.
You’re going to be wading through too much competition. The people above you are getting rich off you, you’re not getting rich off your clientele! You’ll get rich when you’ve managed to lure thirty or forty more people into their snare.
So, if you’re going to get rich off a home based business system you’re going to need to find one that actually delivers. Look for one that tells you you’re going to have to work to build your business. Expect to take six months or more to show considerable profits, because unless you’re either very lucky or very, very good, that’s realism at its finest. When you’ve got a company that’s dealing straight with you, and they are out there, you’re going to find yourself in a position to actually enjoy having wealth on demand instead of just dreaming about it.
In this discussion, we are going to focus on issues pertaining to how to start a home-based business. Many of the most successful businesses were actually started it in someone’s home. We’re all familiar with the many fables and legends of individual starting multi-billion dollar enterprises in their basements and garages and certainly you can develop a highly successful business that is based from home. Of course, only a small and almost infinitely small fraction of the use of home-based businesses will become as successful as the next Microsoft were Facebook, however, you can develop a secondary income for yourself to the development of a home based business. In fact, over time, your home-based business may become your full-time job. When you are starting a home-based business, the most important thing to do is to first determine what type of business at you ultimately seeking to start. Many people, with the advent of the Internet, have taken the starting small e-commerce businesses were small blogs are able to generate a modest amount of income on a monthly basis. As such, we fully recommend that you harness the power the Internet when you are starting your home-based business. However, not all home-based businesses need to be based on the Internet or have a nationwide presence. For instance, if you are very good with numbers and have a strong background in bookkeeping, then it is very common for you to open up a part-time bookkeeping practice that is based solely out of your home.
One of the downsides to opening a home-based business that operates with local clients if they can come off as unprofessional that you simply work out of your home as it pertains to the services that you render. As such, you may want to work directly with the client at their location or providing services such as bookkeeping or other personal services that do not necessarily need to be rendered within your home. Over time, you may want to be to able to afford a small office space that will allow you to give your business and more professional look as it pertains to working with local clients.
It should be noted, on a side discussion, as it pertains to financing a small business it is somewhat typical. The small business administration typically does not allow for loans made to home-based businesses. This is primarily due to the fact that one of the reasons why the small business administration was created was so that traditional businesses could be launched and individuals would hire other people within their small business facilities. As such, you may be an excellent candidate for a SBA loan however you are going to need to move into a traditional facility before you’re able to receive this type of financing. However, there are a number of other types of financing methodologies available to you. This may include using some of your own savings, using some income from your 401(k) or IRA accounts, taking out a personal loan, using credit cards, or working with a potential investor that can provide you with the financing that you need in order to launch a business. Of course, there is no proper way to ever play in the business, there are a million ways to skin a cat, and as such you may want to tap some unconventional means as it pertains to obtain financing for your home-based business. As it pertains to using credit cards or personal loans in order to finance your home-based business, this can be a very expensive endeavor. Most personal loans are unsecured by any type of tangible property more tangible asset typically has a substantially higher interest rates in the back associated with a secured loan. In most cases, your interest rate can vary anywhere from 9% to 20% per year depending on your overall credit score. As such, it is absolutely imperative for use loan financing in order to start your home-based business recommend that you very carefully to all potential financing options for using personal loans or credit cards. In time, there are other types of lending facilities that you can use as it pertains to receiving the financing that you may need on the ongoing basis.
After you determine which type of home-based business one a start, it is time to start the preparation of your business plan. Here, you’re going to want to create a blueprint of how you intend to provide your services or products the general public, how you will integrate certain procedures and protocols into your day-to-day activities relating your to your home-based business, developing a well focused financial model that has a profit and loss statement, cash flow analysis, balance sheet, pregame analysis, business reaches page, and general assumptions page that will be used in conjunction with your company, and a detailed overview of how you intend to market your business.
As we discussed before, you can use the power of the Internet to market your business, even on a local level areas many home-based businesses are now also turning to popular social networking websites such as Facebook, Flickr, tumbler, and other popular portals in order to get the word out among people they know. You have a number of contacts within your local area that have a specific need for a specific type of service then you may be able to reach out to them directly by being able to directly contact them via e-mail and through the affirmation social networks. In fact, we strongly recommend that you create a Facebook page and work-related social networking page that showcases your home-based business in exactly the services that you provide as it relates to your company. If you are engaging in e-commerce operations, then it is extremely important for you to invest heavily in promoting your business through social networking media, search engine optimization, and pay per click marketing. In time, you’ll find a number of people are able to find your e-commerce platform very quickly and that your infant every turn over rate will be extremely high. Although this is somewhat of a general article pertaining to how to start a home-based business, you are, again, engaged in the business of selling products on an e-commerce basis than we strongly recommend that you also use very popular third-party selling platforms such as eBay and Amazon so that you are able to, again, had a very brisk inventory turnover as it relates to your overall operations. In the following, that at the onset of your home-based business operations, you are typically able to sell more of your e-commerce-based merchandise through Amazon and eBay versus through a proprietary e-commerce site. Additionally, as it relates to e-commerce, these websites often charge minimal fees as it pertains to showcasing the products that you have for sale to the general public. As such, if you are selling products that you are either acquiring or producing on your own that you may want to check out this type of third-party sales platform in order to further your sales as time progresses. Of the utmost importance that you developed a very strong marketing plan especially to if you are engaged in e-commerce selling activities.
Relating to our discussion as it relates to financing ongoing business operations, once you have established your business then you may want to consider the possibility of taking credit cards. If you are heavily engaged in e-commerce, you can usually secure a line of credit based on your amount of money that is coming in through the credit card receivables that you receive. For instance, if you operate an e-commerce website that generates $10,000 a month in revenue then you can typically obtain a credit line equal to approximately $10,000-$20,000 depending on the specific lender. This is commonly known as merchant financing and it can be a very good way for you to manage your cash flow on a month-to-month basis as you plan on starting a home-based business. However, unlike in SBA loan that were conventional business loan, merchant financing based on credit card receivables is typically very expensive. As such, it is strongly recommended that you use this type of marketing sparingly as it does cost a significant amount of money. Typically, work in financing is approximately the same interest rate costs associated with a personal loan or credit card.
Also, you’re going to want to think about whether or not you shooting for your business or create a limited liability company to manage your business operations. If you do decide to incorporate create a limited liability company then you will have the ability to create a bank account in the company’s name, and don’t conduct business under the company’s name, and have that company almost act as a third-party as he progressed business operations. Additionally, there are many tax benefits associated with incorporating as you will be able to more effectively receive and deduct certain expenses for your home-based business. On a side note, and home-based business should ever be started for tax savings purposes. In fact, the IRS has cracked down substantially on individual entrepreneurs have created a home-based business solely with the intent to write off a substantial amount of their ongoing living expenses were ongoing business expenses. As such, you need to ensure that you are operating this as a legitimate part time business it is simply based out of your home. When you’re starting a home-based business, we strongly recommend that you have a certified public accountant or tax attorney work with you so that you can properly plan out how certain normal expenses within your home will be deducted if you were Corporation or your limited liability company. Of course, you do not necessarily need to start a corporation or limited liability company in order to larger business operations. At the onset of operations, you can decide to work as a sole proprietor which means that ultimately everything that you do as you conduct business is through you as an individual and not as appropriate. However, with this comes the risk of unlimited liability if something should happen or if you are sued. For instance, many business experts often recommend that a individual business does incorporate into the fact that it should something go wrong be litigating party can typically only go after the assets that are held by the corporation. However, if you were acting as the sole provider, any leading party can come after all of your personal assets including your home, vehicles, retirement accounts, and other issues and assets that you may have been held by your person. As such, you should make a determination as to whether or not you will be engaging in any type of activity or selling any product that ultimately could have some potential for you don’t wind up in court for one reason or another. Again, we always recommend these speakers with attorneys for all of the advice as it pertains to these matters.
This business can be a fun activity and certainly can provide you with a very good source of secondary income for the ability to eventually turn your home-based business into a full-time job. Again, in summation, you need to always ensure that you are starting a home-based business for the right reasons. The wrong reasons, as we discussed throughout this article, include simply starting a home-based business with the intent of paid tax deductions. The best reasons for starting a home-based business are typically because you want to have a business that provides you with ancillary income that this is your passion and that you want to create a full-time business out of it in the future.
The other thing that we always discuss, and recommend, you keep a very reasonable and levelheaded and reasonable as he progressed through starting your home-based business.
Check out: Online Jobs and
Home Based Business is a growing industry. With more and more people jumping ship into the world of entrepreneurship, this kind of business undertaken at home proves to be an option for those who are looking for an alternative means to have their steady source of income– excluding the choice of being a part of the corporate world, with the very tough to climb corporate ladder. The advantages that come along with having a business operating from home goes beyond that which one can enjoy when having a conventional, brick and mortar business. Not to mention too, the greater flexibility that comes along in engaging in this kind of entrepreneurial venture.
Most home based business owners either opt to offer products or service from home. Those who offer specific services from home would commonly offer tutorial sessions, trainings, and such other services that require the skills of the entrepreneur. On the other hand, there are those who are involved in the sales of products, which they offer from and within the comforts of their homes. The good thing about involving in sales for your business at home is that you get to have that liberty in terms of how you manage your business, involving the number of hours you put in, the products you sell, and of course, the profit you make.
There are a lot of reasons as to why a home based business is a sold out these days. Perhaps the one that tops the list would be that this gives the entrepreneur the opportunity to earn as much, without having to incur in as much expenses on the other hand. A conventional, brick and mortar business will inevitably require some startup costs, operational expenses, and such other necessary expenditures; which is not the case for a business undertaken at home.
A number of companies these days also offer opportunities for those who intend to startup their home based business. For instance, there is the Tom Allen group, a company that sells Forever Living products and is accepting applicants for membership to their company specifically for individuals who are looking for a means to start their own sales business. The best thing about the Tom Allen group is that it does not call for as much investment. In a minimal startup fee, you get to become an ambassador for a brand that’s known worldwide– a great way to be a part of the business from home industry.
Starting Your Home Based Business
In Today’s modern world more and more people are now starting a home based business to supplement their income, some even go on to quit the day job and work full time, but the sad truth is that most are doomed for failure and lose more money than they actually make, but why?
The truth is that when people start searching for a home based business on the internet, they come across so many websites offering an online business stating make money within hours of signing up, most of the time this is just not true.
One of the most important things that most people tend to miss out on is training or mentoring, you need to know how to run a home based business. To be successful with your business you need to find a good sponsor or mentor who can show you the ropes, the do’s and the don’ts’s so to speak.
To be successful with your business the most important task you need to learn is how to market or sell your products, whatever they may be, without customers you have no business. A very good example of this is, say you put up a website offering 10 Bars of gold totally free to the very first person to respond to your to website, if no one knows that your website exists then no one would take you up on such a fantastic offer. This is where a good mentor can put you right.
So how do you find such a person? This is what I Did.
I went to Google did a search for the business or niche that I was interested in, I spent many hours going over many websites trying to get as much information as possible, information such as what was on offer, what would you get if you decided to join up. I then picked out five sites that I thought were right for me.
They were all offering full training on how to get your new home based business off the ground, not one of them were claiming you would make money straight away but with some basic training you should start making money.
I then went back to Google and did a search on the person who was promoting the business opportunity, I wanted to find out who they really were, how long they had been involved in the business, what were people saying about them and so on.
I then narrowed my search down to two people, and the reason was they had a contact number that I could call and talk to them about the business.
Once I made contact, I asked question such as, if I join up to your business how will you help me get started, what sort of training do I need to do, how long will it be before I start to make money, also If I get stuck will you be there to help and advise me.
These are just some of the questions you should ask, my advise is write everything down so you don’t forget, ask as many question as you can, and if they are willing to answer all your questions then you know you should be OK.
You can normally tell just by speaking to someone what they are like, if they are just using a sales pitch, then I personally would back out. If they are not pushy and invite you to think about the opportunity and give them another call when you are ready then I would consider this business. I would then try to find other people who are working with this person, just to get an idea of how they are doing working with this person.
So if you are thinking of starting a home based business don’t just jump into the first opportunity that you find that claims you will be making money within hours of joining, because the sad truth is you probably won’t.
Do your research, don’t rush, take your time and I am sure you will have success with you new home based business.