starting a business for dummies | step by step guide to starting a business

Protect your LLC by writing an operating agreement. Unless you are a solo member LLC, in which case you do not need an operating agreement, it may be wise to write one in order to protect your LLC. Although most states do not require you to register an operating agreement, you may want to consider doing so. In almost all cases, you can choose the operational rules for your LLC. However, if you do not have an operating agreement, the “default” rules in place in your state will govern in the event of a disagreement. [18] Your operating agreement can help you do the following:
Most home based businesses do not succeed. That is just the truth of the matter. There are a few new home based businesses every year that are really successful, however. All you can do is work hard and try your best.
Most small businesses are sole proprietorships or partnerships. While these types of businesses are nice and easy to form, they also expose their owners to liability for business debts and judgments. Creditors and judgment holders can come after the owners’ personal assets, like savings accounts and homes, once the business’ money is depleted.
Override state default rules: each state has laws that automatically govern LLCs in that state unless an operating agreement says otherwise. However, these default rules do not always fit your situation. Therefore, you should write an operating agreement that sets your specific rules for the inner workings of your LLC. [21]
Have strong English skills and exceptional grammar? You may have opportunities to work as a proofreader from home. Advertising for this can be difficult; seek out those who might actually be able to use your services and advertise directly to them.
Decide what to include in your operating agreement. Each LLC’s needs will be different and therefore, no two operating agreements will look exactly alike. In most cases, you should contact an experienced attorney to draft your operating agreement. However, most operating agreements should include the following basic items: [22]
Learn about employment laws. If you plan to hire employees or contract workers as part of your home based business, you will need to know how to navigate labor laws. These include, but are not limited to, minimum wage, overtime pay, required benefits, and other fair compensation regulations. It’s best to hire legal counsel to make sure that you do not run afoul of these regulations.
Box subscription services are popping up everywhere in the food, beauty and even pet product sectors, ready to deliver goods right to your door each month. One of the consumer perks is the idea that these subscription boxes are carefully curated just for them based on their likes and interests, and each month, the boxes’ contents are a surprise.
Consider a home equity loan. If you have a home, looking to get a home equity loan can be a wise idea, since these loans are typically easily approved (since your home acts as collateral), and interest rates are typically lower.
Enterprise Holdings, the parent company of Alamo, Enterprise, and National Car Rental services hires home-based customer service reps, escalation support reps, reservation and sales reps, and bilingual reservation and sales reps.
If you know how to play an instrument well (particularly the piano or the guitar) and have patience, you’ve got what you need to teach others how to play. Offer lessons in that instrument to others – this can also be an excellent service to barter with, too.
Yes, you can turn your car into a money-maker by driving for Uber and Lyft, but there are other ways to convert mileage into money as a clever side business idea. One way is to do vehicle advertising, a potential side income source of anywhere between $100 to $600 per month. Whether you own a compact sedan or a full-sized bus, your vehicle’s exterior space is prime real estate for ads. Check Wrapify, carvertise, and similar sites for more details about getting started with this business idea and for being paired up with local advertisers.
#20 – InstaEdu is an online company hiring work at home tutors to teach online students different school topics. Payment is usually $20 per hour made using PayPal. Teaching sessions take place through Skype, text message, video chats or even whiteboards.
S Corp: S Corps require a much more formal structure than LLCs. They’re made up of a board of directors, corporate officers, and up to 100 U.S. shareholders. However, like LLCs, S Corps aren’t subject to double taxation — all of the profits are claimed on the shareholders’ personal taxes.
Write the marketing plan. Your operational plan describes how you will produce your product, and your marketing plan describes how you will sell your product. When you create your marketing plan, try to answer the question of how you will make your product known to potential customers.

A money broker is basically someone who arranges short-term loans to people. A common variant on this is “pay-day lending” where businesses lend money to people who are typically looking for funds to hold them over to the next paycheck. These are usually storefront locations, closely regulated and not allowed in all states. This can be a solid business, but the regulatory climate is shifting against these businesses, so evaluate the risk of future regulatory changes, before hanging out your shingle.
While contracts can be valid when orally made, they are much harder to prove and enforce. Make sure you get all agreements in writing — it will save you headaches down the line, and could even save your business.
Parents and grandparents are only willing to buy their kids so many computer games! What they would really prefer to be buying are beautifully hand crafted vintage toys that the kids can use their own imaginations to play with! Hand crafting takes time, so carefully figure out what interesting toys you can bring to market at a reasonable price.
Getting ready for a child is a special time and having a nursery all set up is a wonderful way to get ready. You can really have fun developing striking nursery designs for your clients and make good money by bringing it all together for them.
Le-Vel – Join Le-Vel for FREE today! You have the potential to earn $660 on your first $800 in qualified sales, with no monthly sales quotas and no start-up costs! As a Le-Vel Independent Brand Promoter, you get a free website and back office. Earned commissions are paid weekly, with no need to carry inventory. My husband and I are full time with Le-Vel. We have three children in 3 different schools, with three different schedules, so having a mobile-based business is key to our success! I love that we can work from anywhere, and not miss a thing with our family! Le-Vel uses premium grade ingredients. In this instant gratification society we live in, the high impact results are exactly what people are looking for! I’d love to connect with you. Call/text me at 715-495-8432. Click here to get your Free Le-Vel account set up! Independent Brand Promoter LV-931685-DL.
If you have a way with words and know how to make the keyword-friendly, beautifully designed, SEO-optimized landing pages, why not charge other companies for your services and turn it into a money-making side business idea? Even a short landing page is worth a couple hundred bucks in most cases, and so much more if you know how to pitch your prospects well. If you want to get started with your business idea of becoming a landing page specialist or freelance copywriter, check out Len Smith and Sean Kaye’s awesome course on Udemy, Copywriting Secrets: How to Write Copy That Sells.
If I missed any good ones, please share your best side  business ideas in the comments below! If you’re ready to start a business while you’re still working full-time, join my free course, Find a Profitable Business Idea.
As with any business, marketing is what unlocks your success. It’s not enough to know that there’s demand for your products—you need to figure out ways to reach the people that are most likely to buy them. You need to get the right visitors to discover your products.
Learn how to start your own website and make money through online advertising, find out how to turn your “trash into cash” on eBay, and how you can become a home based entrepreneur by providing a service or creating a product line.
Some might start out as employees or apprentices for other businesses and then gradually build up the skills and experience before they set out on their own. But with the right idea and determination, they can make their dreams of having their own small business come true.
Who says you need technology in order to start? Some people even enter paralysis from just not starting just because there is not enough technology or the technology they currently have is not as updated.
Sammi Caramela is a recent graduate of Rowan University, where she majored in writing arts and minored in journalism. She currently works as a Purch B2B staff writer while working on her first novel in her free time. Reach her by email, or check out her blog at sammisays.org.
Events like family reunions and large parties are often full of busywork that many people simply don’t want to tackle. That can be the perfect place for you to step in and take charge of the planning and coordination. And thanks to the Internet, it is now easier than ever to market your event planning services.
Chances are you’ve probably watched a couple of youtube videos online. And if you haven’t you’ve definitely watched TV. With that said, have you ever thought about how much video you consume? Now imagine if you were paid for all the videos or TV shows you watched. Well you can!

Leave a comment

Your email address will not be published. Required fields are marked *