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Home-Based Business Myths



Did you know that of the nearly 30 million small businesses in the US, almost half of them are home-based? That’s a pretty impressive number, yet there are still a number of myths and misconceptions that deter people from this type of venture. We’re here to quell those untruths and show you why starting a business from your home can be highly successful and worth taking the chance.

You need a lot of capital. The answer to this really lies in the type of business you are thinking of starting. Not every venture requires a lot of money up-front, and some don’t require much overhead to run. You don’t have to break the bank or look for investors right away. Just determine how much you need to start off slow, and see where it takes you.

It’s going to take up all of my time. Many would-be entrepreneurs put off starting their own business because they are under the mistaken impression that it has to be a full time operation right from the get-go. This isn’t true at all! Some of the most successful home-based businesses started out with just a small investment of time each week. Once things begin to take off, then you can begin to devote more time to making the business flourish.

You need a lot of experience. Not every successful business venture was started by an expert or even a professional. The key is not experience as much as it is passion. If you have an idea and you feel it’s something that can be turned into a money-making venture, go for it. If you’re really not sure where to begin, do a little research first. All it may take is getting your feet wet and then, with time, the experience will come.

You’ll get bombarded with taxes. Home-based businesses are subject to the same taxes as other small businesses, but keep in mind that they’re also eligible for a number of tax breaks and deductions on expenses such as accounting software, office equipment, licenses and insurance. Before you write off the idea of a home-based business because of tax reasons, check with an accountant to learn the truth about what to expect. It may be much less of a burden than you’re anticipating.

Too many small businesses fail. While it is true that nearly half of all small businesses don’t make it past the first five years, that doesn’t necessarily mean that yours will be one of those statistics. Passion, determination, dedication and hard work can help you overcome these odds and achieve success. Remember, it’s better to take a chance than regret never trying.

Home-based businesses don’t have to be scary endeavors, doomed to fail and cost you tons of time and money. If you plan accordingly, play it smart and take your time, you can beat the odds and emerge from the rubble a smashing success.

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posted by Rebecca Daneault @ 6:29 AM

Beat the Traffic—Forever: A Virtual PBX Phone System Can Help You Migrate Your Office to the Cloud

The alarm clock wakes you up in mid-dream, and you feel more tired than you did when you first went to bed. Breakfast is a mess: you burn your toast, dry your eggs, and spill your coffee—but there's no time to bother. 06:30, you’re out the door.

“It’s looking good” you keep chanting to yourself—until you hit the highway; an accident a few exists down has caused two lane closures, and you might as well be driving down a parking lot.

By the time you inch towards the nearest off-ramp, it’s already 07:00. You figure you’ll just cut through the side-streets, but no joy—orange signs indicate you’ve just entered construction hell.

A last minute turn—there’s a broken down city bus blocking your way.

A U-turn—the rear of a garbage truck has you stopping every quarter block.

It’s 09:15 when you finally reach the office, and all you can think is: “how can I possibly reproach my employees when even I can’t make it here on time?!”

Sounds like the sob-story of a typical morning commute?

It doesn’t have to be.

A virtual PBX phone system can be your first step in migrating your office to the cloud. You may have heard the saying ‘Home is wherever YOU are’? Well, as of now, your office can be, too!

Professional Image

Employees were traditionally required to work from an office because there was simply no other way for them to function as, and maintain the image of, a single company. You didn’t want your staff taking calls on their personal phones, for instance, because a mosaic of numbers on an ad could give customers the impression of a disjointed operation.

But a virtual PBX phone system lets you choose a single toll-free number as your store-front, meanwhile routing all incoming calls to the appropriate person as set out in your phone tree. This person can be in the next room, or half-way across the ocean—your customers will experience the same service they would calling a physical office.

Save time

According to the US Census Bureau’s American Community Survey 2005-2009 (the latest data available), the average American spent 25.2 minutes traveling to work. That’s 50.4 minutes daily assuming the same duration for his return trip—or almost an hour in practical terms. A quick calculation spits out 218.4 hours yearly (assuming a work-year of 260 days), or just over 9 days.

Of those surveyed, 13.3% traveled at least 30 minutes, and 8% suffered through a whopping 60 minutes or more.

Now imagine that instead of wasting all this time and energy on the road, you and your employees could invest them in work or in your personal lives. Those precious hours evaporated along the highway serve no one but oil sheiks, cut-men, and the IRS. But an extra hour each day to spend with loved-ones, go to the gym, or catch up on sleep can significantly improve your quality of life.

That’s without getting into the possible ill effects of long commutes on health and marital life...

Better quality of life = better state of mind = improved performance = better business.

That’s just simple math.

Save Money

Time is money. But there are other aspects to commuting that are more readily tangible. Transportation takes vehicles—company-owned, individually-owned, or city-owned. That’s more than just a capital investment: vehicles require insurance, annual inspections, maintenance, and, of course, gas—an increasingly expensive commodity.

Public Transportation calls for a fare, which also factors in the aforementioned costs, and even if you’re lucky enough to live nearby and ride your bike to work, that trusty old steed of yours still runs up a lump of expanses.

So whether transportation is covered by the company or by individual employees, it will still invariably find it's way to bite you in the bottom-line.

On the other hand, you might find many of your staff members willing to accept a modest pay-cut in exchange for the convenience and benefits of working from home.

Conclusion

That was just transportation. Factor in the costs of rent, infrastructure, insurance, and other overhead, and you’ll soon realize that any way you slice it—unless your business calls for frequent face-time with your clients (the in-person kind, not the iPhone kind)—downsizing or even completely eliminating your physical office would be a far more sustainable solution. For you, for your business, for your employees, and for the environment.

Whoever thought that helping the world could be as simple as helping yourself!

Let Synclio help you mobilize your office. Our motto is ‘Your Business, Anywhere’, and not without good reason.

Related articles:

1. 5 Reasons Virtual Systems are taking over the Physical World

2. 4 Ways a Virtual Phone System Can Improve Customer Experience in Your Business

3. Anatomy of a Virtual Phone System: What’s in it, and why you need it?

4. Weatherproof Your Business: Take Shelter from the Storm in the Cloud

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posted by Maty Grosman @ 5:13 PM