List of Famous Entrepreneurs - DOC by P_Gallo

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Tips on How Entrepreneurs Start a Home Based Small

There are many ways by which entrepreneurs get on the road to success. Some entrepreneurs
choose to take advantage of franchise opportunities and from there, move on to greater glory.

There are a lot of things that can be said about franchising. For one thing, franchise opportunities
let you penetrate the market with an already-established brand name. People already know the
product or service so you won't have to go through the trouble of making a name.

Of course, you have the responsibility to make a name for your business and not just the product.
This means you'll have to sell yourself. After all, people can get the product or service from other
franchises, so what makes you any different? You'll have to show them that you are different
from other businesses even if your products are the same. You'll have to do your best to convince
people that getting the product from you is the best decision that they can make.

If you don't think that taking advantage of a franchise opportunity is the thing for you, maybe
you should consider starting a small, home based business.

A lot of budding entrepreneurs put up small home based businesses for different reasons. Here
are some of them:

1) Lack of funding - most entrepreneurs have small home based businesses because of the simple
fact that, as a beginner, most do not have the funding to rent office space.

When you think about it, a small home based business is perfect for a budding entrepreneur. He
or she actually gets to save money on the rent of commercial space. We all know how hard it can
be to manage finances when you are starting a business, so saving all the money you can is a
very good idea.

2) Convenience - for entrepreneurs, small home based businesses can be very convenient. When
you think about it, they can stay at home all day and still make a living.

Entrepreneurs find small home based businesses convenient in other ways as well. Much legality
is eliminated when you base your venture at home. Getting a lease on a commercial space may
sometimes prove too complicated, as compared to having your business at home.
3) Customer base - some entrepreneurs start small home based businesses because of the fact that
they may already have an established client base there. Some restaurants, for example, get started
because of a person noticing that his or her cooking is very popular around the community.
Now, by starting a restaurant in the home, he or she would already have a customer base, willing
to pay her for her cooking.

Many people know just how hard it can be to start your business as an unknown. By basing your
business at home, you know that you will already have established connections and you know
that people will find it more convenient to go to you for their needs.

Remember that you need to plan properly. Most entrepreneurs' small home based businesses fail
because of poor planning. You need to learn how to separate your business finances from your
home finances, and learn how to record each correctly.

In order for you to be able to properly handle your business, you might want to consult three
people: an Accountant, a lawyer, and an advisor. Between these three people, you can get the big
picture of what to expect when running a small home based business as an entrepreneur.

You have to be strong. Many people can tell you that business and personal life don't mix very
well. But history has shown that entrepreneurs with small home based businesses often succeed
at becoming globally competitive.

Three nerds in a garage have as much chance at succeeding in a business venture as an executive
in an office with a view. Technology today has made possible that all resources be within your
grasp. All you actually need to do is find the will to take the first step.

There you go: those are just some tips to get you started on that first step. By remembering to
take calculated risks, you should be fine in getting your small home based business of the
ground, entrepreneur.

What are you waiting for? Go!

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