Wednesday, October 11, 2006
Sewing, knitting, arranging parties for selling candles or cookware – yes these are some examples of good ideas for a home based business for women. Women can also work at home as travel agents and enjoy good salaries and big travel discounts. They can be writers for web site content or sell their own products online.
Chronic margin pressures are prompting publishers and other content providers to seek effective ways to reduce operational costs. At the same, users are demanding more value from content products. The times are indeed challenging.
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Striking that balance between living and working at home is something that will take time to learn. My own experience working from home has taught me a lot about how to make this challenging environment productive and and perhaps this experience can help you get started too. The following is a set of principles I’ve found are needed to get things done effectively, and some insight into achieving them.
Sunday, October 01, 2006
Business experts say you should not expect a profit for the first eight to 10 months, so be sure to give yourself enough cushion.
Projecting Operating ExpensesInclude salaries, utilities, office supplies, loan payments, taxes, legal services and insurance premiums. Don't forget to include your normal living expenses.
Your business must not only meet its own needs, but make sure it meets yours as well.
Projecting IncomeIt is essential that you know how to estimate your sales on a daily and monthly basis. From the sales estimates, you can develop projected income statements, break-even points and cash-flow statements. Use your marketing research to estimate initial sales volume.
Determining Cash FlowWorking capital—not profits—pays your bills. Even though your assets may look great on the balance sheet, if your cash is tied up in receivables or equipment, your business is technically insolvent—in other words, you're broke.
Make a list of all anticipated expenses and projected income for each week and month. If you see a cash-flow crisis developing, cut back on everything but the necessities