A Simple 6 Step Guide to Starting a Home-based Business

Are you sick and tired of building the life and lifestyle of someone else?


Many dream about owning their time, not punching a clock and creating a life of freedom by owning their own business. It's easier said than done because many won't make it past the wish list.  Yes.. the wish list! People wish but they never do.  Why???  Because society has brainwashed many into becoming wage slaves and many have become imprisoned in their own dreams that never become a reality.

Truth be told... You can own a business and work a job. However to have one without the other is giving one too much control over the other, especially in an uncertain economy. Many do it everyday and remain vigilant in building a legacy outside the J.O.B! In fact, I did it for years with no complaints. My job gave me the leadership skills, the extended training and the knowledge to begin to build the business of me.

What if the only things that stands between you and your dreams are the excuses that you have accepted as the truth? -Lewis Howes


So.... It's really not about the money, it's about the freedom that money gives you and the flexibility to do what you want to do. If you had more freedom to do the things you enjoy, money wouldn't ever be an issue. Below is a 6-step guide to assist you with the beginning of the journey.

Don't work 8 hours for a company then go home and not work on your own goals. You're not tired, you're uninspired!

  1. Assess what you know

You know what you are good at and what you are not so good at.  If you understand this, you are one step closer to starting a business than most. Being able to identify your strengths and your weaknesses is a skill that many do not possess. This can help you gauge if you are suitable for embark on a home business especially in your area of interest.  As a home business owner, you will need to run a lot of tasks on your own, from planning, business management to the field work. You must always be multi-tasking. Make sure you can carry out the tasks needed.

  1. Formulate business ideas

Start brainstorming! What are your interest and what are you passionate about?  What will you do for free IF you didn't need the money? We all can think of something that inspires us in life that we would love to do outside of the J.O.B. But the problem is, most need the money so thinking outside of a J.O.B. and what you really want to do almost becomes senseless.  Those inspirations that you daydream about can be made into a business idea.

  1. Test the need in the market

Make a shortlist of your ideas so that it contains only those ideas that can work for a home business. Be practical, yet think outside the box. Assess whether people will want to spend money on the kind of products or services that you intend to offer, how much and whether this will generate sufficient income proportional to your never ending or sometimes simple effort.  If no, get back to Step 2 for more ideas. You must always be in the planning and building process. Being persistent is important at this stage because many people give up after climbing the first obstacle.

  1. Understand the legal barriers to entry

There are many.. depending on what you want to do and where. Check if there are any rules or regulations controlling the starting up of a home business in your state or country and more importantly, your municipality.  This can be a hurdle and a turn off at the same time. If you don't follow the law, not only will you pay, you may be turned off from the process from the start. If their are barriers, figure out how you want to get around them and make your business happen. Don't allow these specifics hinder your dream, your progress and your success.

  1. Determine the amount of capital you need

Money, money, money... It's a real conversation and topic that stops many in their tracks when talking about starting a business. If someone tells you it's free to start a business, you better run. It's simply not true and so very close to a lie! First, you must calculate the amount of money you need to start up your home business. The cost should include the purchase of any equipment, the hiring of any professionals (e.g. lawyers), insurance, marketing materials, licenses and so forth. You might not be familiar with all these so take your time to do some price checking and bargain hunting to make certain you are getting the best match for your business and money.

  1. Execute and plan

This is the most important step! Once you have obtained a clear picture from Step 1 – 5, it is time to lay down your business plan. Find out your break-even point and how many products you need to sell in order to earn your investment.

None of this advice will work or even matter  if you don't incorporate the most important element called "ACTION." You can complain about the game or get in the game and start making a profit while building a legacy.  You can't leave your J.O.B to your heirs,  kids or your family, but you can leave a business and continue to create generational wealth as a part of your legacy.

Take ACTION today to start a new life and own it! As an MBA graduate and PhD soon to be graduate and over 20 years in business for myself, I often have people coming to me for advice about how to start a business, how to restart a business, how to market a business and how to grow a business. I've created a course based upon the hundreds of thousands of dollars I've invested in education, trial and error and everything in between. If you are ready for a new life or just seeking to add additional income to your personal portfolio, sign up today @ http://bit.ly/smallbusinessclinic

I am Nichelle Womack. As a people building consultant, I specialize in helping you reach your greatest potential through self-reliance and internal motivation.  I assist the dreamers, the aspiring and the new business owners to transition in their life with information and inspiration to start, market and grow into the CEO. For over 20 years I've been a business owner and worked in corporate America in several leadership positions.  And... for the last 10 years I've been the CEO of me with no J.O.B!  Positive thoughts and language are my fuel for energy and my desire to help you find yours. I can help you balance your life in and out of the boardroom with more control and authority. Looking for more great life tips, check out “The Master Tip Manual for Personal Success” @http://amzn.to/1bWA7Vw . Many blessings and much success to you!! Check out my websites @ www.nichellewomack.com and www.diversecc.com. Connect with me on Twitter, Instagram & Periscope @NichelleWomack