Thomas - How to Start and Run Your Own Home-Based Business

Title Page

HOW TO START AND RUN YOUR OWN HOME-BASED BUSINESS

By

Matthew Thomas

Publisher Information

First published in 2009 by W & H Publishing

Apple Tree Cottage, Inlands Road, Nutbourne,

PO18 8RJ

Digital edition converted and published by

Andrews UK Limited 2012

www.andrewsuk.com

Copyright 2009 by W & H Publishing. All rights reserved. No part of this work may be disclosed to any third party, translated, reproduced, copied or disseminated in any form or by any means except as defined in the contract or with the written permission of Gill Govier Ltd., Pulters Farm, Hinxworth Place, Hinxworth, Herts SG7 5HB, UK. Email: gill@govieronline.co.uk

Introduction

May you live in interesting times is, so I am told, an old Chinese curse. The implication is that most of us would far rather live in ordinary, even slightly dull, times. Interesting times suggests times of insecurity, of disruption, of change. And most of us, while we may agree that a change is as good as a rest, are uneasy when the world appears to be changing almost daily before our eyes.

Well, like it or not, few would deny that these are interesting times. Seldom has the pace of change in the world been more rapid. And nowhere has this been felt more than in the world of work. In the UK at least, the last ten years have seen the virtual collapse of manufacturing industry. The whole concept of a job for life has vanished, with many people facing redundancy not just once, but two, three times or more during their careers. Even in sectors that were previously bywords for stability, such as banking and insurance, large-scale redundancies have become the norm. Many jobs advertised today are not permanent whatever permanent might mean now but on short-term contracts. And the global financial downturn of 2008 has further destabilised the employment market. As a result of all these factors, very few people today have the luxury of knowing that they will still have a job this time next year.

All change, however, brings opportunities as well as threats and I firmly believe that as a result of some of these social and economic changes the prospects for people wanting to start a business of their own have never been better. Many of the organisations that laid off staff now buy in services from freelances or small businesses. Advice and assistance is widely and in many cases freely available for people who want to start up on their own. And advances in information and communications technology (computers, mobile phones, the Internet and so on) mean that self-employed people and small businesses can compete more effectively than ever before with large corporations. These developments have also, of course, created a wealth of (home-based) business opportunities for people with relevant skills, such as website designers, computer programmers, and so on.

Starting your own business is far more than just a substitute for traditional employment, however it is a positive career choice in its own right. With many jobs today offering little in the way of satisfaction or prospects, more people than ever are looking for alternative ways of finding fulfilment in their work. Not only that, many are seeking more flexible working arrangements that allow them to enjoy more time with their families or pursuing leisure interests. Running your own home-based business in which I also include businesses such as gardening and window cleaning where you work mainly on customers premises can provide great satisfaction and the potential of good financial rewards, and it can be as flexible as you wish. A home-based business is also, of course, ideal for many people with disabilities. As a result of all these factors, starting a home-based business has become for many people their favoured route to achieving the life they desire for themselves and their loved ones. Every year, thousands more people are breaking free to enjoy the flexibility of self-employment and the satisfactions and rewards of being their own boss. This book will show you how you can join them...

So why did I write How to Start and Run Your Own Home-Based Business? For nearly twenty years I have run a successful home-based writing and consultancy business, specialising in careers and self- development. During this time I have met many other home-based workers in a wide range of occupations. Without exception, they all agreed that starting in business was one of the best decisions they ever made, and not one (except on a very bad day) ever expressed any wish to be back in a conventional job. I believe that, for many people, starting a home-based business can be the answer to unemployment, job insecurity, work-based stress and the lack of flexibility in traditional employment. If this book serves to ease the path of just one person into the exciting world of running their own business, I shall be more than satisfied.

Id like to close with a word of thanks and an appeal. Thanks must go first to the many home-based workers and organisations assisting them who helped me in researching and writing this book. And the appeal? I should like to ask you, valued reader, to write to me via my publishers if you have found this book helpful, or you have any suggestions for the next edition. And if, as a result of reading this book, you set up a home-based business of your own, I should be delighted to hear about it.

I wish you every success.

Why Start Your Own Business?

In the UK, and many other countries as well, starting your own business has never been more popular. According to a report from the GEM Project (Global Entrepreneurship Monitor), in 2006 over 2.7 million people in the UK were attempting to start a business of their own. Less encouragingly, around 500,000 UK businesses close down every year (source: Barclays Bank). So why, despite the obvious risks, are so many people drawn to starting businesses of their own? Their reasons are as varied as the individuals themselves, but the most common include the following.

1.To Make More Money

Its a well-known saying, but nonetheless true: nobody ever got rich working for someone else. If you run your own business, the profits will go into your pockets rather than those of someone else (who probably has more than enough already...). If your business does well, you can make a lot of money certainly more than you could ever earn doing a similar job for someone else.

2.To Be Independent

In our fast-changing world, few if any jobs now offer long-term security, let alone opportunities for career progression. For many people, one major attraction of starting their own business is to obtain the security now seldom available in paid employment. By starting a successful business they hope to obtain greater independence and financial security for themselves and their loved ones, and perhaps in the long term generate a valuable legacy to pass on to their children.

3.To Gain Personal Satisfaction and Fulfilment

This is a very important reason, especially for people whose current circumstances give them little of either. Being your own boss gives you a measure of freedom and power. You have the chance to exercise and develop your existing skills and learn new ones, and every day to face the excitement of fresh challenges.

4.To Obtain Higher Status in the Eyes of Others

Though some may be jealous of their achievements, in general successful business people are held in high esteem by others in the community. By providing goods or services, perhaps employing other people, and paying taxes and duties, they make a real contribution to their community and the quality of life of everyone in it.

5.To Follow Through an Idea or Invention

This is not the most common reason, but many businesses exist because the owner had an idea or spotted a gap in the market, and saw an opportunity to make money from it.