Dads Working From Home presents: I’ve decided to start a home business. What’s the first step?

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(Free-Press-Release.com) August 6, 2009 -- Dads Working From Home presents: The 10 Most Frequently Asked Questions about Starting a Home Business

#2: I’ve decided to start a home business. What’s the first step?

We’ve all heard the old adage, “the journey of a thousand miles starts with a single step.” Our goal today is to insure that your first step isn’t straight into the abyss.

Most books will tell you to create a lengthy, in-depth business plan, and that’s fine if you’re looking for a reason to procrastinate and put off the real work of getting started. The only justifiable reason to create a business plan is if you are trying to raise money via venture capitalists or a commercial bank loan.

Otherwise, don’t worry about writing a formal business plan. All you really need is a simple, concise, HONEST “blueprint” to the road ahead. Here is what I recommend you include in your blueprint for success:

1. One simple sentence that clearly describes A), what the business does and B), who it intends to serve.

2. A breakdown of how your business will run from day to day. What exactly happens between “Open” and “Close?”

3. A detailed list of your responsibilities as the captain of the ship. After all, the buck stops here.

4. An equally detailed list of the responsibilities of your employees, partners, etc. Good fences make good neighbors.

5. A realistic estimate of how much it will cost to operate the business for the first fiscal year. Be brutally honest with yourself here.

6. Finally, write in detail how you plan to cover the costs of running your business the first year? In other words, where is the money coming from? Sales? Savings? Both? Be clear – this is no time for blind optimism.

While there is much more ahead, it’s important to keep in mind that the foundation is the most important part of any structure. Take care of the six steps above and your odds for success will be greatly improved.

More information can be found online at http://www.dadsworkingfromhome.com

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