It is certainly no secret that no one can become wealthy working for someone else. The absolute best way to secure your financial future is by starting your own business.

There are literally thousands of businesses started each year by people in their own homes, most from their own kitchen tables and start out only part time.

Even if you don� �t make any money the first few years, the tax benefits are extraordinary.

Nearly 8,500 new home based businesses start every single day. In 1999, there were
about 18.8 million home businesses in existence, and that number grew to about 25
million in 2003. In 1998, the average household income of those that had home
businesses surpassed $57,000. This data came from International Data Corporation. Link
Resource� �s International mentions that there will be 50,000,000 home businesses in
existence by the year 2005. This is quite a large number. Now you can have the American
dream too.

To improve your bottom line as a home based buisiness owner, you should probably follow a few simple steps which I have outlined for you here. Here are the first 8 of the 17 steps...

*Decide what you are good at or what you like
Where do your strengths lay? What really interests you? You should use the skills that you already have acquired and capitalize on them. You should also realize that this business is and should be something that you look forward to doing each day, not look at it as a job.

* Collect Information
The internet is growing at an alarming pace. Use this source along with the library, and bookstores to get the basic information you� �ll need to excel in the workplace. Will you require the internet, e-mail, business cards, brochures, and invoices? Many businesses these days have all of them. You should also consider accounting software, data bases, and resource guides such as magazines from your specific industry. All of this can help to keep your business flowing smoothly.

*Labor Regulations and Planning/Zoning
It would be a huge mistake to just jump in, spend thousands of dollars, and have your clients all waiting on their orders to be fulfilled; only to find out it is illegal to operate
your business out of your home. A simple call to your local city hall or county commission can keep a disaster like this from happening to your business.

*Plan to Work and Work Your Plan
This sounds simple enough. However, you would be surprised at how many new business owners place a few ads in the newspaper, get their listing in the yellow pages, pass out a few flyers then sit at their desk and expect the phone to ring off the hook or mobs of people to rush through their doors. It just doesn� �t happen like that! You must have a definate course of action layed out. Create a plan that covers your marketing efforts as well as product developement. Follow it very closely so you can document what works for you and what perhaps needs to be amended. Decide how many hours each week you are willing to devote to marketing and product developement. Unless your in the high tech industry and have a product that developes itself, you may need to enlist the help of family and friends when it comes to developing a product. Remember to keep in mind the planning and zoneing laws.

*Select a Business Entity
Will you be a Sole Proprietorship, partnership, or corporation? If you happen to have a family attorney, they can help you to decide which is best for the type of business you are building. If not, you can go to the public library, there are all sorts of books to help you decide there as well. Of course, today with the internet being in practically every home, you can simply google the information right to your desk top, print it out and discuss it with all involved in your business. For taxation information regarding business entities, go to www.irs.gov.

*Where Will You Work?
Obviously you will be working in your home. But more precisely where in your home will be your home office or buisiness headquarters? What room will you store your equipment, documents, offices supplies, etc.? These are important things to consider. Will you mind if guests come over to visit and you have spreadsheets all over the living room? Will your wife mind if you have an engine soaking in oil in the bathtub? I know this sounds funny, but believe me...it has happened!
Consult your significant other if you have one. Talking with them now about your ideas
will prevent an argument or two from happening a few days down the road, and maybe save you time and money to boot, may even save your marriage. Your business will take a lot of time and energy just to run it. You don� �t want to move everything from one room to the next and spend countless hours every week setting up shop in the morning, and tearing down at the end of the day. Pick a room that you can store everything, and work freely from, and make sales calls when necessary.

* How Will You Fund Your Company?
Setting up your business can cost as little as a hundred dollars or even as much as several thousands of dollars. Start making a list of everything you will need, from push pins to envelopes, copiers to printers, tools to workbenches and how much each will cost. Don� �t forget the sales tax, and shipping and handling charges. The freight charges and tax on big ticket items can really set you back.
Being on a tight budget seems to be the case in many home based businesses. Just make
sure you have enough money not only to get your business off the ground, but flying for
at least four to six months. Nothing could be more maddening, than to have thousands
of dollars in supplies and equipment just sitting there, and no way to sell it because you
can� �t pay the phone bill, or advertise. Getting another job to fund the business further
might be the only option at that point, and that seems counterproductive doesn� �t it?

*Choosing and Registering Your Business Name.
Registering your business should be a top priority. The reason you want to make
this your first priority is because most of the items you buy will either be in your business
name, have your business name on it, or be purchased with your business checking
account.
Consider this scenario...You� �ve ordered stationary, forms, reciepts, checks etc. Everything with the name of your business on it only to find out that the name you chose for your business has already been taken and registered. Look at all the time and money you have waisted. Wow! That really hurts! So be sure to get that name registerd first then get your licenses, etc.

You should also consider obtaining the � �.com� � website name for your business name. By
doing this, you will be branding your company name and prevent others from using your � �.com� � name for their business.

All of this may seem somewhat overwhelming, but trust me, its worth the time it takes to sit down, write these things down, make your lists, phone calls and registrations. It will save time and a lot of money in the short and long run.

Of course there is a lot more to owning a home based business, and depending on weather or not you will selling a product and delivering it through UPS, FedX or USPS, or if your going to market and sell a product on line be it a virtual product, information product or an affiliate site. There are still a lot of things you need to know.
You can get on the internet and do a search for most information or you can visit your local library and city hall.
Information is everywhere. That is why it� �s the number one selling product on the internet.
Once you begin your home based business, your life may never be the same. The
satisfaction you will have from your efforts can be extremely rewarding. You may find
that after a year or two, you have created a smooth running and efficient business,
requiring little attention. Just remember that you have to always improve your products to
stay on top.

If you would like to know the rest of the story, check out the About the Author box.