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7 Ways To Get Financing For Your Home Business
by: Dean Phillips
Thinking about starting a home business? Do you already own
a home business but need cash? Perhaps you can qualify for a
small business loan.

However, before you attempt to borrow any money, you first
have to figure out how much money you need. The easiest way
to do this is by putting together a business plan. A good
business plan is critical to your business success.

It can be a simple one page outline or it can be many pages,
but it should spell out exactly how much money is needed and
what it will be used for; your potential market and
customers and potential for growth; what makes your business
unique from others; and a rational and conservative
projection of your business's cash flow.

Your plan will also help you set business goals and define
the steps necessary to help you reach those goals. It is a
guide for you to refer to on a regular basis to help
evaluate your business progress and help keep you focused on
your priorities.

Besides, a business plan is almost always required when
applying for a bank loan. If you need assistance in writing
a business plan, your local library should have several
books on the subject. You can also try Amazon.com. In
addition, you should be able to get help on writing a
business plan from one or more of the sources listed below:

1. The Small Business Administration (SBA) offers numerous
loan programs to assist small businesses. It is important
to note, however, that the SBA is primarily a guarantor of
loans made by private and other institutions.

http://www.sba.gov


2. The Service Corps of Retired Executives (SCORE) is a
volunteer management assistance program of the SBA that
provides one-on-one counseling, workshops, and seminars.
SCORE has chapters throughout the country. Many work in
conjunction with local Chambers of Commerce. SCORE and Visa
have also joined forces to help home-based and small
business owners. Contact your SBA office, local Chamber of
Commerce, or the following websites for more information:

http://www.score.org


http://www.visa.com/smallbiz


3. Talk to your local bank. Find out what they require for a
business loan application and also if they are participants
in the SBA loan programs. Be diligent and shop around for
the best loan packages, and make sure you fully understand
the terms.

4. You may be able to borrow from insurance policies, IRAs,
401k's, stocks and securities, etc. Check with your
insurance agent. Also, investigate what the policies are
regarding borrowing from your mutual funds or retirement
account. Before borrowing, make sure you fully understand
the pay-back terms and any potential penalties.

5. Apply for a home equity loan. Borrowing against the
equity on your home is permitted in all states except Texas.
Just make sure you're diligent about paying back the loan or
you could end up losing your home.

6. If you're a woman, you may be eligible for a Specialty
Loan. These types of loans are now being offered by local
banks. Who knows? Filling out a one-page application just
might get you an unsecured credit line or loan ranging from
$2500 to $50,000.

7. Try borrowing from family members and/or relatives. If
you have a good relationship with your family, perhaps you
can make a persuasive argument for them to loan you money
for your home business. Just remember, borrowing from family
or relatives shouldn't be treated any differently than
borrowing from a bank. It's just as important to pay them
back on time as well.















About the author:
Dean Phillips is an Internet marketing expert, writer,
publisher and entrepreneur. Questions? Comments? Dean can be
reached at mailto: dean@lets-make-money.net

Visit his website at: http://www.lets-make-money.net



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The Perfect Home Based Business and How to Start
 by: Michael Saunders

Day by day people scour the internet looking for a home based business to set them financially free. What happens more often than not is that people end in worse shape than when they started. Why you ask? The answer is not so simple.

The key to finding a home based business starts with knowing yourself. That means knowing what you are good at and what you do not do well. You must also be honest with yourself when doing this. We would all love to be perfect in every aspect of life but the truth is we are not and we have to accept this fact. This is important because picking a business in which most of the tasks that need to be done are your strengths will increase your chances of success.For example let's say you are not much of a talker. You do not talk much to people who you do not know and you keep to yourself usually. You are however extremely organized and love to write. It would most likely be in your best interest to be an article writer or ghost writer. They do not require you to do much talking or go to meetings all the time.

The next thing you need to know is the product or service that you will be offering. The more you believe in your product or service, the more you will sell. Now before I go on there is a handful of people in the world that could sell ice to an Eskimo or sell water to a fish but these people are the exception rather than the rule. For most of us if we do not believe in what we are doing we will not reach the level of success that we desire. People will be able to tell if you believe in your product or not. So if you are looking at a network marketing company try being their customer for a couple of months before you join the business. Once you try the product or try the service then you will know how you feel about it. On top of that you will be more prepared to answer question about it because you have become familiar with it.

Once you picked a business that relies on your strengths and a product or service you can believe in you have to choose what your budget is going to be. Remember that most home businesses take at least months before you really start seeing results off so it is important to keep within a budget until then. If you decide to join a mlm you may have the type of sponsor that says you should buy this or buy that it will really help your business. Remembers that you need to stay within your budget. If the recommended items are out of your budget ask your sponsor to rank the items by importance. This way you can stay in budget and get the items most needed first.

OK now you have your business, our product, and your budget now you are ready to start your business. Just remember that it is a business and should be treated as such. Running a home based business can be more difficult than running a traditional business. Running a business from home offers many distractions; Kids, TV , your bed, etc. You could have followed this guide perfectly but mess this up and you will not succeed. If you do not take it seriously you will just be wasting money and wasting time and since how most people start up home based businesses to have more time and more money you would be defeating the purpose. Make sure the home office is secluded so that when you are working you cannot be distracted.

Now that you have your business running you must market it. Marketing is how you get customers. Now there are many forms of marketing such as newspaper ads, flyers, TV ads, mailing lists, pay-per-click ads, power-linking, and many others. How you market your business is up to you. Each technique has its own strengths and weaknesses. Obviously you will want to keep your budget in mind when picking a method of marketing.

Diversify your marketing as much as possible, and remember... the more people that see and know your business the more business you will do.

Copyright © Michael Saunders http://www.InformationOrganizers.net

 

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