Be Your Own Boss!!
Written: Dec 31 '05
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Product Rating:
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Pros: Fun and Entertaining to read, Excellent examples, Great information
Cons: None that I can find.
The Bottom Line: A clearly written book that is perfect for learning the basics about starting a home based business.
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| rootk's Full Review: Paul Edwards, Peter Economy, Sarah Edwards - Home-... |
Background
I have been co-owner of a small video production business since 2000. As we’ve grown, the need has arisen to change our business structure from a partnership to something else due to personal liability concerns. I saw this book on the bookshelf, and as I flipped through the pages, noticed there was just a lot of good concise information in it.
Please note, I am reviewing the second edition of this book which was published in 2005 according to the information inside the book. Thus, it is fairly current and I believe more helpful than the previous edition.
About The Book
If you're completely new to the idea of running your own home-based business, this book is a great place to start. Personally, before I take on any new adventure or project, I like to do a little background reading and learning on whatever the topic may be. I wish I would have known about this book before our “video hobby” turned “business” event 5 years ago.
I believe I would classify this book as more of a general overview of all the important things you need to consider before actually starting your business. For particulars you will definitely want to contact a good business attorney and a good accountant. Not to mention, you’ll need to interface a lot initially with your local city/state governments to get tax forms and your business license.
This book seems to work best if you already have an idea for your business. Granted , they do throw out a few ideas for things like medical billing and place an emphasis on what could be described as services geared towards either elderly folks, or dual income families who are too busy to deal with traditional family type things. If you already kind of know what you think you want to try, this book will primarily help you fine tune your thoughts, and bring them to reality.
As seen below, “Home-Based Business for Dummies” is divided into five parts with twenty chapters.
Part I: Beginning At The Beginning
1 – What you need to know about home based businesses
2 – Mirror Mirror on the wall, what’s the business of all?
3 – Hot opportunities now and for the future
4 – Marketing 101: getting customers
5 – Making the web work for you
Part II: Managing Your Money
6 – Making the transition to working for yourself
7 – Keeping track of your money
8 – The price is right, deciding how much to charge
9 – Getting health insurance and planning your retirement
10 – Getting a grip on taxes and deductions
Part III: Avoiding Problems
11 – Legal do’s and don’ts
12 – Using outside resources and experts
13 – Eluding scams, rip-offs, and other headaches
Part IV: Making It Work
14 – Staying on track with a serious business attitude
15 – Coexisting with kids, relatives, neighbors, and pets
16 – Don’t just stand there, grow
Part V: The Part of Tens
17 – Ten tips to succeed in your home-based business
18 – Ten things to avoid
19 – Ten myths about working from home
20 – Ten things to do if times get tough
To me, this is an excellent way to have organized this book because it allows anyone at any stage of the business development process to easily pinpoint the kind of information that is most important to them. If you’re just starting out, then obviously start at Chapter 1. But, if you have been at it a while, and have a question on money or need to know something about a legal issue, it can easily be found.
The section on Managing Money is probably one of the best things anyone can read. Obviously, if you’re in business, the goal is to make money. By understanding the basic accounting principles presented in Part II of the book, you’ll be well on your way to managing your business money wisely.
For general knowledge, my favorite part of the book was Part V. Here you will find Top 10 lists that describe common myths and pitfalls, and even success producing ideas to help you on your journey as a home based business owner. If you have a family, you’ll want to take note on the section about what I would call, “The good way to set up your office.” Which means, keeping distractions from the spouse and kids to a minimum while you are working at home.
There is a section on marketing, but in lieu of just that section alone, I would definitely recommend “Guerilla Marketing” by Jay Conrad Levinson. It’s a very dry read, but there are a lot of interesting and unique ideas for getting word out about your business with out spending much (if any) money. And when you’re in business for yourself, the more advertising you can get for free, the better!
I really like the way the authors describe how to get in to the home based business. Meaning, the idea of working at your full-time job (which you may or may not like) while you test the waters with your own venture on the side. That’s excellent advice because if your business idea doesn’t take off, you’re not stuck without any income. Plus you can stay under your current employer’s medical plan (A HUGE money saver!)
Conclusion
Overall there is so much information in here, it will be hard to take it in all at once. Likewise, as I stated earlier, the most important thing to remember is make sure and check with a professional accountant and lawyer in your area before/as you get started so they can help walk you through the particulars in your area. Every city and state is different in terms of setting up a business when it comes to taxes and getting your license.
Bottom line is, if you are semi-seriously considering starting a home based business, do yourself a favor and pick up this book and read it through. You’ll get some good advice and knowledge on what it takes to be your own boss. Of course the other thing you can do is, talk to other small business owners in your area. Take them to lunch and learn as much as you can from those who are successful small business owners.
Recommended:
Yes
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Epinions.com ID:
rootk
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Member: Java Boo Boo
Location: Decatur, Alabama
Reviews written: 83
Trusted by: 23 members
About Me:
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