1. Free Session
8 Start-Up Basics
Small Business @Home Success
By Don Osborne:ProfitPuzzle.com

2. #1.Objectives#2.Management#3.Finance#4.Personnel#5.Marketing#6.Operations#7.Production#8.Resources
3. #1Clarify Objectives Constantly
4. #1. OBJECTIVES
personal
A.
Write down your personal reasons for successful small home based business ownership.
5. #1. OBJECTIVES
business
B.
Clearly state your business goals regardless of your personal talents or skills.
6. #1. OBJECTIVES
lifestyle
C.
Schedule lifestyle area activities: individual, family, spiritual, career, financial.
7. #1. OBJECTIVES
time
D.
Plan your use of time in 30 minute increments with an emphasis on mandatory items.
8. #2Enhance Management Skills
9. #2. MANAGEMENT
plan
A.
Develop a step-by-step action plan for each of your personal and business goals.
10. #2. MANAGEMENT
report
Report the results of your action plan activities on a regularly scheduled basis.
B.
11. #2. MANAGEMENT
evaluate
C.
Evaluate your results against the targets you set in your action plans.
12. #2. MANAGEMENT
develop
D.
Develop alternative steps for areas of your action plans which are under performing.
13. #3Improve Finance Opportunities
14. #3. FINANCE
entity
A.
Select a business entity which reflects your personal goals and facilitates funding.
15. #3. FINANCE
budget
B.
Create a budget and compare your actual numbers to your forecast numbers.
16. #3. FINANCE
statements
C.
Setup, maintain and regularly review an accurate set of statements.
17. #3. FINANCE
cashflow
D.
Project cashflow using a time frame which allows you to prepare for shortfalls.
18. #4Review Personnel Needs
19. #4. PERSONNEL
structure
A.
your business structure by identifying the jobs required to meet your objectives.
20. #4. PERSONNEL
hire
B.
Only hire people who capabilities and interests match your job description.
21. #4. PERSONNEL
compensate
C.
Compensate people based on the revenue or savings they generate in their positions.
22. #4. PERSONNEL
motivate
D.
Motivate people by understanding why they are working and what they want from their jobs.
23. #5Increase Marketing Effectiveness
24. #5. MARKETING
products
A.
Identify why people or companies buy your products and services and how they use them.
25. #5. MARKETING
customers
B.
Understand who your customers are and how they make buying decisions.
26. #5. MARKETING
competition
C.
Develop a strategy for differentiating your offerings for your competition.
27. #5. MARKETING
sales
D.
Use sales and promotional methods you can consistently and persistently execute with results.
28. #6Streamline Operations Regularly
29. #6. OPERATIONS
administration
A.
Adopt an efficient administration system for keeping your business records.
30. #6. OPERATIONS
facilities
B.
Make sure every square foot of your business facilities are working for you.
31. #6. OPERATIONS
equipment
C.
Invest in equipment and technology only after determining its ROI (Return On Investment).
32. #6. OPERATIONS
requirements
D.
Identify and meet the expense of all business requirements in a timely manner.
33. #7Reduce Production Costs
34. #7. PRODUCTION
components
A.
Breakdown each of your products / services into their basic components.
35. #7. PRODUCTION
process
B.
Outline the steps and costs of your production process for each of your products / services.
36. #7. PRODUCTION
distribution
C.
List the steps and costs for the distribution activities for each of your products / services.
37. #7. PRODUCTION
pricing
D.
Add up and add on margins to all of your steps and costs to determine your profitable pricing.
38. #8Leverage Resources Always
39. #8. RESOURCES
internal
A.
Make use of the internal people and information resources you're already paying for.
40. #8. RESOURCES
external
B.
Don't be afraid to pay for the appropriate external experience required to grow your business.
41. #8. RESOURCES
industry
C.
full advantage of all the industry information offered by organization you've paid to join.
42. #8. RESOURCES
universal
D.
Universal business knowledge is all around you - ask questions and listen.
43. The Profit Puzzle
8 Start-Up Basics for Small Business @Home Success
By Don Osborne:ProfitPuzzle.com