This may sound familiar to all of us "PACK RATS" .

Your closets, cabinets, drawers, garages and even your pantries are so full of stuff that you spend considerable precious time looking for the things we need. Since you can't find what you need when you need it, sometimes you spend on something you actually already have.

Professional personal organizers advise us to keep three piles periodically when sorting our stuff:

1. PILE # 1 Still useful and will be used immediately
2. PILE # 2 Still useful but will not be used soon
3. PILE # 3 For disposal in the trash bin

For those that end up in pile # 2, you give them away. But if you can liquidate these "artifacts" of yours turn them into cash, that would be swell, wouldn't it?

Where I live, the neighborhood organizes quarterly garage sales so we are motivated to do spring cleaning regularly and turn our clutter into cash.

It works well, because I myself was able to get very good deals.

Those struggling economically and those tired of the corporate rat race have a common dream and that is to become an entrepreneur. Indeed, at some point, everyone wants to be his or her own boss. But is that all there is? In a financial sense, what does it take to put up and run your own home business successfully? The answer lies in knowing what needs to be put up and matching that with a well of resources you have and are willing to risk as start-up and working capital.

The 2 essential questions that need to be answered then are:

1) How much needs to be shelled out initially and on a recurring basis?

2) Can I fund the requirements of this endeavor until it is profitable and able to sustain its own operations?

In a nutshell, we are answering, How much do I need and when? and Do I have what I need to have and when I need it?

Before you even do anything else, do a little homework by researching. Arm yourself with information to get the big picture scenario. Gather as accurately and as completely as you can all the necessary purchases or investments you would need to prepare for. I would recommend adding approximately 5-8% of the total for initial contingencies. Separate the initial and one-time investments from the recurring monthly disbursements. With this you have set-up the budgeted investment and expenses side of your business. If you can, I would recommend putting everything in a spreadsheet so you could project your cumulative cash outflows for each month and then accumulate it for the year.

Now comes the harder part. Determine how much you can comfortably invest towards your own business. It is best to use money that you already have. That implies any savings, surplus such an inheritance, endowment lump sums you have tucked away in a bank account, piggy bank or treasure chest someplace. I would strongly advise against taking out a loan on your credit card or drawing on an existing bank loan, unless this is something you have resolved to do because you have an absolute expectation that you will be receiving personal surplus funds in the next few days or weeks to pay off these obligations. Remember, the intention is to make money and not to spend it needlessly. If you choose to borrow or finance your business, you would have already incurred charges such as processing fees and interest expenses when you have not even started yet.

And do not forget about the Big R. It stands for RISK. Risk needs to be acknowledged, understood, assessed and managed for that matter. It needs to be taken seriously because whatever it is you put on the line may have as much as four varying outcomes: it can either grow exponentially, remain stagnant, erode incrementally or be lost entirely. The time frame within which any of these can happen can range from a few months to a couple of years. Consider this when you set aside the amount you determine as working capital. With successful ventures, revenues or sales received are supposed to be plowed back into your operations and the cycle repeats itself.

Your working capital is the fuel that funds your business. Without it, your hands are tied, and you are constrained to use only the free option alternatives. Use them as practically possible in advertising, marketing, selling and even in organizing tasks. Yes, these freebies can save you a great deal but mind you, the free alternatives can be very limiting and they also tend to exhaust another priceless resource, your time and how you leverage it.

Whether or not you are currently employed, it is in your best interest to consider having your own business. Explore the many options out there and discern which ones are worth looking into. Initially, go for the ones with minimal or free entry costs. They are risk-free. Do not give payment details yet if you are not fully sold out on the idea. Skepticism is healthy when it is used to exercise due diligence. Always keep both eyes open and minimize the guesswork. Do your homework as I suggested. Do not start with the wishful expectation that money will come in easy. It doesn’t happen that way. This is a home business, not a genie. Even with some degree of automation, you will still have to give your personal inputs and attention to it to some degree. The ones that are ready to go are user friendly and can be a practical option. True, some options may be easier than others, but just like any other endeavor, they will require dedication, determination and effort to succeed.

Indeed, in this difficult economy, the home business model has proven to be financially rewarding. Consider it as a source of your second or third incomes. It could eventually replace the job you have now. Many people have already increased their daily and monthly incomes. Others have replaced their jobs. Will you be one of them?

So can you afford to own and run your own business? Yes! You definitely can!

Operating a home business is seldom easy and interruptions come
in all shapes, sizes and forms.

Between the family, friends and neighbors who call or come by,
and the telemarketers who insist on ringing your number off the
hook, getting through the workday can be a real challenge.

When you introduce children into the home office environment,
your productivity and patience can be seriously tested.

For example, right now my three-year old daughter is pulling on
my shirt and begging me to read her a story. Clearly, I'm in the
middle of something important here, but how can I say no to
those eyes? I'll be right back...

Ok, that wasn't so bad was it? She's happy, I'm happy (having
bonded with my daughter) and now I'm back to continue my
conversation with you. :-) What's the lesson here? Flexibility
is a major key to balancing your home business priorities with
your family's needs.

I can tell you from first-hand experience that maintaining a
deep level of concentration on work in a home business for long
periods of time is next to impossible. Naptime does offer some
reprieve, but any break from the kids is usually short lived.

Even with older children, summertime introduces new challenges
with kids running in and out of the house all throughout the day.

I would like to share with you some of the tips I have
discovered to help manage your home office with children in your
midst. Since children of different ages pose different
challenges, I will present my tips in terms of age groups.

OLDER CHILDREN AND TEENS

We will look at older children first since they pose the least
challenge to our work productivity.

Children, who are old enough to understand the idea of schedules
and chores, are old enough to understand the needs of your home
business. Explain to your children that you do your work at home
so that you can be near them when they need you. But also be
sure they understand that you must do your work so that you will
have the money necessary to keep your house, feed the family and
to provide them with money for entertainment.

Once your children understand the necessity of your work, then
outline a work schedule and explain it to them. Do make sure
they understand that emergencies are definitely an acceptable
reason to interrupt your work. Then make sure they understand
that between hours x and y, you will be doing work --- and then
hold them to respecting your schedule.

INFANTS

Infants will never understand your needs for work. But
fortunately, babies do well under a schedule or routine. Instead
of expecting your child to work around your schedule, schedule
your work around the needs of your baby.

It is simple. Babies eat, sleep and poop. Sometimes they play.
Fortunately, babies sleep more than they do anything else.

Naptime offers the best advantage for getting your work done.
Get your baby into a routine of eat, sleep and play, and you
will experience unexpected levels of productivity.

TODDLERS

If you have a toddler running around the house while you are
operating your home business, then you may find that your hair
turning gray or disappearing altogether. But, gray hair is a
sign of character, right. ;-)

I am venturing to guess that the person who devised the door
lock for the inside of the house did so because he had toddlers
in his own home. Inside door locks should only be utilized when
you are making that important phone call and your toddler is
screaming for your attention. At all other times, your door
should remain unlocked with your door open.

Develop a routine with your children for meal times, naptimes,
and play times. Work these times into your work schedule and
adhere to them. If you fail to keep appointments with your
children, your children will have less respect for your work and
do more to prevent you from the completion of your work.

Don't be afraid to let your children sit in your lap while you
are working. It helps them to feel wanted and it helps them to
be a part of your daily life. There are times when it is okay
for them to be sitting in your lap while you work, and at other
times you need them out of your lap. Don't be afraid to tell
them to get down and go play or read a book so that you can
resume your work.

Permit your children to have their toys in your office. Often
they will sit contently and play while you work. Just knowing
you are near is enough to keep them happy.

Be prepared to take an hourly break to deal with your toddler.
Try to do potty breaks at your hourly break and to do drink
refills. This can help your child grow into a routine that will
work well with your home business. At each break, spend a few
minutes with your child giving hugs and kisses and talking with
your child about what he or she wants to talk about.

Toddlers don`t always do well with the routine, so be prepared
to take a few minutes when needed to give the attention that
your child so desperately needs in the moment.

IN CONCLUSION

I hope these tips serve to help you in the challenge of
operating a successful home business.

My home business permits me to fulfill my financial obligations
*AND* see my children grow up. I would never contemplate trading
my home business for another kind of business. Even with the
added challenges of dealing with toddlers in my home office, the
upsides far outweigh the downsides.

Growing my own home business with children around has definitely
given me a new respect for all people who successfully run a
home business with kids in the work environment. I tip my hat to
you... You deserve it!



Stone Evans, The Home Biz Guy
http://www.PlugInProfitSite.com/main-27825