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In her new book, "The Self-Employed
Woman’s Guide to Launching a Home-Based Business," author and
business owner Priscilla Huff writes, "The mission of this book is
to present to women everywhere practical information to start a
successful home business that best suits their lives and their
future. … I have strived to comprehensively cover as many home
business basics as possible for your startup and to provide you with
the most helpful resources I could find."
"An
Overview & Women’s Business -- Past, Present, Future"
Huff presents a complete overview of
the pros and cons of self-employment. She identifies some common
characteristics shared by self-employed women (persistence, problem
solving, etc.), and the effect on the family and home life. She also
addresses startup necessities such as bookkeeping, insurance, legal
matters and marketing.
One of the most valuable passages in
this section is the "Eleven Frequently Asked Questions About
Self-Employment;" especially interesting is her explanation of good
places to begin looking for information (such as the public
library).
In discussing the recent evolution of
self-employment opportunities for women, Huff describes the five
home business "truths" and the 10 home business axioms. One of the
more interesting myths she dispels is, "I will not need child care
if I work at home."
"Preparation & Startup Basics"
Generally a timetable for starting your
own business begins as early as one year before the actual startup.
Huff’s recommended timetable follows a defined outline at the
six-month, four-month, three-month and startup time periods.
Preparation includes preliminary research, a decision on opening a
product- or service-based business, finding potential markets and
customers, and considerations before quitting your day job. Perhaps
the most important aspects of preparation are the three essential
plans: business, financial and marketing. According to Huff, these
documents "will help you define your business and make it a
success."
"Legal
Considerations & Financing"
In starting a home business there are
many legal considerations. Those issues include choosing a name,
securing an EIN (a federal employer identification number), and
determining whether the business will be established as a
proprietorship, partnership or corporation. Huff also walks the
reader through the myriad of licenses, regulations, labor laws and
zoning matters.
In assessing the financial needs of
your home business, Huff explains how to estimate your expenses and
how to pursue the different kinds of business financing available to
the small-business person. One often ignored but very useful
variation of financing is bartering, the exchanging of goods and
services for items and services that a business cannot afford.
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"Open
For Business & Managing And Maintaining A Profitable Home Business"
Once you open your doors for business
you should have in place a plan to attract customers and develop
markets. Normally this is accomplished through a marketing plan that
defines your strategies for advertising, public relations and
networking. As your markets grow and mature, management issues can
become more complex. Record keeping, taxes, credit/debt and hiring
options are just a few of the examples. It is during this time in
the life of a home business that certain costly mistakes must be
avoided. Some common mistakes include thinking like an employee
instead of an owner, inadequate monitoring of your cash flow and not
listening to your customers.
"Other
Issues"
Huff’s concluding chapters discuss
relevant topics such as government contacts and assistance, how to
establish an online presence, and planning for the future of your
business. The decision to have an online presence is influenced by
many factors: developing and marketing your website, business e-mail
accounts, and adhering to standard Internet business practices.
The future success of any business is
dependent on staying in touch with the customers, recognizing
emerging trends and adjusting to changing realities in the world of
self-employment.
Any woman
who is considering the challenges and opportunities associated with
a home business should make "The Self-Employed Woman’s Guide to
Launching a Home-Based Business" a first read. The book is a
start-to-finish blueprint for aspiring entrepreneurs who have always
dreamed of being their own boss and running their own business. Kim
Lisi, the managing editor of HOME Business Journal, writes,
"Patricia Huff has taken the guesswork out of home business
startups. This comprehensive book is destined to become the
preferred resource for entrepreneurial women everywhere." This book
is recommended for women who are considering a career in
self-employment or starting a home-based business.
[Richard Sumrall, Lincoln Public
Library District]
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