Starting a Business in Texas - A Basic Overview

Starting a business can be both exciting and stressful to any business owner. Many businesses who do not have the proper funding and appropriate planning frequently fail within their first year. This statement can either frighten a business owner or push them to plan better for the rough times ahead. Often the most successful businesses have good business plans and are prepared for any complications that may arise. One way of preparing is by deciding which type of business entity you will own. There are different types of legal structures or entities available for business owners in Texas. Here is a list and overview of each entity:

Sole Proprietorship

This type of business entity exists when one individuals owns the business and all the business assets are under the business owners sole ownership. In Texas, a sole proprietor is liable for all debts of the business. The business owner is also liable for any debts incurred by the business, meaning there are no personal debts and there is no need for the business to file a separate tax return. All profits and losses are the owners responsibility. The business ownership is also non-transferable and cannot be sold to another person. Most businesses are listed as operating under the name of the owner in Texas. When a business wants to use a name other than the owner's, it must complete an Assumed Name Certificate and file it with the county clerk in their area. The county clerk in each county uses different forms but the information needed for each certificate is the same. Each business must provide a business name, address, city, state, zip, business type and expected period of operation. The personal information of each owner is also required. Again this business structure makes no separation between business and personal debts or liabilities.

General Partnership

A General Partnership exists in Texas when two or more individuals or businesses form a business. In Texas, A general partnership creates a separate business entity for the business, that is separate from the owners. However, creditors can still reach the partners personal assets to pay for any outstanding debts. In most general partnerships, each general partner is given an equal share of assets and liabilities in the company. A separate tax return is filed by the partnership and each general partner is responsible for the debts of the business. In Texas, a general partnership can operate under the owners names or it can chose a different name that must be registered with the county clerk. In Texas, all general partnerships must file an Assumed Name Certificate with the county clerk. Using the Assumed name certificate is also known as a d.b.a (doing business as). Each general partnership must file this with the county clerk where the business will be maintained or conducted. The information required is the same as the Assumed Name Certificate in the sole proprietorship section.

Limited Partnerships

In Texas when a partnership of two or more persons or entities combine to have one or more general partners and one or more limited partners, a limited partnership is formed. A general partner is defined as a partner who shares equally in the assets and liabilities, but a limited partner only has limited liabilities or debts. All limited partnerships in Texas must be registered differently than general partnerships or a sole proprietorship. In Texas, each limited partnership must be filed directly with the Secretary of State

Limited Liability Partnership

In Texas, a partnership may also file its business structure as a limited liability partnership that allows certain partners to be limited in their liability towards debts of the business. Again this type of business must be registered directly with the Secretary of State.

Limited Liability Company

In Texas, this type of business entity is unincorporated but does have certain aspects of both an S corporation and limited partnerships. The LLC has protections set for the owners and has certain tax benefits not given to the S corporation. Limited liability for owners and pass through taxation are the biggest advantages of this type of formation. Owners are protected from most personal liabilities but there have been cases where the courts can find the owner using the company as an alter ego to elicit fraud and may find the owner liable personally. Business owners need to follow specific rules regarding their personal assets and business assets.

Online Resource For Small Business

Small business online refers to resources available to small business owners via the Internet. Many financial companies provide information on funding resources, business laws and terms, and management advice for small businesses. These sites enable business owners to make sound business decisions to increase the likelihood of their success.

One of the main reasons individuals looking for business online resources is to find information on ways to finance a start-up or existing business. Most lenders, including commercial banks, the Small Business Administration (SBA), and non-traditional financial companies, now provide detailed information regarding the different funding options provided. With these sites, business owners can find out if they qualify for a certain loan and compare loan terms to other available financing options. These lenders typically provide secure online loan applications as well, making the approval process faster. However, for loans that require any documentation, these may have to be faxed or mailed to the lender before the approval process can begin.

Small business online lenders also provide financial management advice to growing small businesses. From other financial websites, entrepreneurs may also be able to access glossaries of common business terms, lists of business laws, and the most up-to-date news, including stock reports. Many of these websites may provide forums that allow entrepreneurs to connect to others with similar interests to exchange ideas, opinions, and advice on business matters. Connecting to fellow business owners can help entrepreneurs to make better business decisions.

A small business online resource is a website designed to aid small business owners in every aspect of entrepreneurship, including finances and management. Most lenders, including the Small Business Administration (SBA), commercial banks, credit unions, and non-traditional loan providers, offer websites to inform business owners on different types of loans and their requirements. Other websites are run by financial companies who specialize in assisting businesses with financial counseling and management tips and advice.

A lender's small business online resource typically lists all available loans and the requirements needed to apply for one of these loans. These websites may also allow business owners to apply via a secure online application to accelerate the approval process. However, if a loan requires financial documentation, these may have to be faxed or otherwise sent to the loan provider before the approval process can begin. If a business owner already receives funding from a lender, he or she may be able to access information regarding that funding online. Borrowers can check interest rates, repayment plans, and the amount still owed.

Other small business online resources provide financial counseling and management tips to help businesses succeed. These websites offer step-by-step guides for accounting processes and business plans, glossaries for common business terms, and hundreds of articles with ideas on how to improve profitability. Business owners may also be able to join a forum to give and receive feedback amongst fellow entrepreneurs.

Going Into Business - Is it Right For You

Many of the queries my small business advisory practice fields every day relate to people, who for one reason or another, are considering going into business for themselves. Their first concern is usually about what business should they start, but really their first concern should be about whether they should go into business at all.

At first glance, this may seem a little harsh. In some respects, it is meant to be. Many of the people who ask me this question, are often in dead-end or personally meaningless jobs, or they are under financial pressure, and are looking for an escape hatch. As a result, their view of of what it means to go into business is tainted by the rose-coloured glasses they are wearing and their romantic notions about what working for themselves will be like.

This is typified by statements such as 'I can get out of bed and work whenever I like', 'no-one can boss me around', 'I can have a day off whenever I choose'. It is not that these things are not noble pursuits, it is just that the harsh reality is before all that can happen, you usually have to have put in the hard yards. Many small business owners work extreme hours, under intense pressure, often juggling more than one role and usually for many years before they can indulge in such pleasures.

The last thing budding entrepreneurs need is to be discouraged, as there will be plenty of motivation killers amongst their families and friends. What they do need is some assistance with the removal of their rose-coloured glasses and the attendant emotion. They need the ability to see the situation as it is and tools to help them make decisions based on hard facts and not on emotions. It is important to assess, up-front, whether going into business is right for them, and if it is, that they then go into business right.

Undertaking a thorough and honest self-assessment can assist with this process. This assessment is not a test with right or wrong answers, so you can't possibly fail. The goal is to assess what is right for you. Done well, a self-assessment will provide you with sufficient insight to determine whether going into business is not right for you, or that going into business may be right for you but that you need to put various things in place before you do so, or that becoming a business owner is an option for you.

A good self-assessment tool will attempt to capture your personal goals and aspirations, determine your chosen lifestyle choices and identify your current situation. It will also identify your personal strengths, and your current weaknesses against the core skills required for the management of any business.

This is important. Going into business can be a risky proposition. You need to go into business clearly having identified the areas of risk and to develop a plan to effectively manage those risks in order to increase your chances of long-term success.

For first time entrepreneurs, more often than not, the areas of weakness identified by the self-assessment usually relate to either currently being in a bad financial situation, or not having any financial management experience. The assessment identifies this as, not necessarily a pre-cursor for small business failure, but an area that requires managing to improve your chances of small business success.

If the the self-assessment indicates that the entrepreneur is in a poor financial situation, depending on the severity of the situation, it could be an indicator that going into business is not right - for now. Implementing a management plan to improve their financial position before they go into business is a better option. It may be more feasible to plan to save the cash required to support your business, and yourself before you start-up.

Should the assessment indicate a particular weakness, such as limited financial experience, it would be wise to put in place a management plan to shore up identified weaknesses. In this particular example, it may be that improving your skills and expertise by attending bookkeeping courses at your local community college or by having your accountant at your side to teach you how to keep your books. The end result is that you may not know how to keep everyone else's financial records but you will be able to adequately manage and understand your own, thus reducing the ongoing risk to your business.

While it is important to encourage people to discover their 'inner entrepreneur', it is vital entrepreneurs do so while making every effort to minimise their personal risk as well as the ongoing business risk. Undertaking a thorough and honest self-assessment and using the insight it produces as the basis for the assessment, planning and management of all potential business opportunities is essential to the long-term success and viability of the business.

Karen L. Paiyo is an Australian Small Business Counsellor, supporting and nurturing the spirit of entrepreneurship in the Asia Pacific Region. Karen empowers small business owners by transferring to them the skills and expertise needed to help them take their business ideas from creative concept to profitable reality, faster and with less risk.

How To Make Certain That Your Business Will Fail

Businesses, like many things in life, fall into two general categories: successful businesses and those that are not so successful. The successful ones grow profitably, generate cash flow, show increased value over time and operate smoothly. Those "other" kinds of businesses...don't do any of these things and usually fail.

Here are 15 ways to make sure that your business fails....or conversely, things not to do.

1. No priority on marketing. Many times the most successful businesses don't have the best products or services. What they do have is good marketing...and they make it a priority. In difficult economic times many businesses cut the marketing budget first. That is a mistake. If your business isn't pursuing many channels of marketing, then it is at risk.

2. You do not have a detailed cash flow budget and projections. Cash flow is not a function of your bank statement. Many small businesses look at their bank accounts...if there is money there...they're OK. Cash flow and profits are not the same...and the primary reason that businesses fail is that they run out of cash.. It is essential to know how much cash you have, and how much you will need in the near and mid-term. Anticipate the unanticipated, use multiple scenarios, plan for a variety of circumstances...all of these things and more can go into your cash flow projections to make sure that you are ready for anything.

3. You run your business by the seat of your pants. Businesses that last cultivate talent....not rely on the owners/founders. Successful businesses have documented processes and systems in place that help the business run smoothly and grow with or without the presence of the owners or a single key person.

4. Your business is not differentiated. If you offer the same product at the same price as other businesses you likely won't last long. You need something to differentiate yourself from the pack...even in a small way. Your advantage could include people, product leadership, great operations, or other unique factors...from the supply side of the business to the service you offer customers. Find that uniqueness, capitalize on it and you're ahead of the pack.

5. Your customer service is poor. Most businesses won't admit to having bad customer service, however many do. In the current marketplace word of mouth is the internet...and bad customer service stories are all over it. It is crucial to understand your customer's expectations and measure up. It is critical for your employees to "make the difference" by taking opportunities to turn service around. The key is training and standards and most of all....communication!

6. Your business lacks focus. Know who you are. Small business owners have an entrepreneurial spirit which frequently means lots of things going at the same time. Successful businesses are focused. Understand what you do, where it fits in the marketplace and stay with it. Your customers will repay your efforts by understanding your business and parting with their cold hard cash!

7. You have the wrong people. Your most important asset is your people and having them in the right jobs. If you don't have the systems to train, recruit and retain your good people...and get rid of the poor performers your business is in trouble.

8. You spend money on things that don't move the business forward. If you have defined your mission, your customer base and have an understanding of your business, you know where to spend your money. Many businesses spend their cash on things that make someone feel good, but don't move the business forward. Take stock and review your expenses frequently....making sure that you use all of your financial resources on things that are important to your business and that you eliminate unnecessary and unproductive expenses.

9. You don't communicate your mission or purpose. If your mission and strategy is all in your head...it isn't doing anyone any good. Your employees are allies and can implement your strategies on a day to day basis. You will be surprised at the contribution your employees will make if you let them in on the "secret". They will find things you missed and contribute ideas you never thought of.

10. Your fixed costs are unnecessarily high. There are always ways to reduce fixed costs.. Thanks to technology and outsourcing, you can cut many of the costs you assumed were unavoidable.

11. You have the wrong attitude. Businesses fail everyday because the owner's ego and desire for status gets in the way of business. Control is not the be-all-end-all for business. Be a leader and recognize talent. Place your emphasis on the bottom line rather than your ego.

12. You don't live by the numbers. Measure the key indicators of your business. Pick a number of indicators that really mean something to you and live and die by the metrics. These measurements will be different for every business...but changes in the metrics that you follow indicate something that needs your attention...and now.

13. Your business has no control over its' environment. To be successful you need some control over your vendors or customer...not face excessive government regulations, not have excessive competition or be in an industry that is easily entered. If all of these factors are in your favor...you could be golden. If they are all working against you, you could be in lots of trouble. Take stock of these forces and determine your place.

14. Your cash flow is upside down. If you revenue comes in only after you have put in lots of cash you are constantly at risk for significant loss. Your risk is heightened by the revenue cycle. Companies like this don't usually go the distance.

15. Your crystal ball doesn't "do" revenues. Understanding the cash flow, budgets and the metrics of your business help you understand that putting certain dollars in the business yields certain revenues. While all businesses occasionally face uncertain revenue streams, the survivors in business have plans in place to deal with these variations...and can predict their revenues within an acceptable margin. Your Ouija board should consist of reports and evaluations of your business done with meticulous frequency.

The Next Generation Technology to Help You to Succeed in Business

Business application software has been always accessible to supply you with all the important data instantly that is required. It is the basic reason for their recognition within the large enterprises. The software has a potential to give an opportunity to the managers in making their business successful. They really get convenience by its usage be it in terms of accounting or inventory systems. The applications like relational database management systems, sales projections to enterprise resource planning that have been implemented in the business are very effective in day to day operations. This leads to the obvious fact that most large enterprises consider IT infrastructure within their team to be the major source of success. This is so because they have a capacity and efficiency to deal with the different business application software.

But, this was the case of big companies who think of IT infrastructure as its asset if we ponder over the thought of small and medium sized enterprises we will find variations. This is obvious because they cannot afford to facilitate their business with very advanced infrastructure due to lack of funds. Some of these types of companies just depend on their short extent network with the source that offers free software. There are few people who purchase few applications but later they realize that it was not the actual. In other words it is different from the original. There are many companies who just deny directly and let their future on the mere luck. They do not have capacity to take an initiative and just hope a magic to happen. This is really strange but it is a fact in some cases.

If you fall in this same category then you need to really change your approach or you will be creating further trouble for yourself. Being a small or medium sized business owner, you need not feel helpless because there are new technologies which can aid you. You really do not have to look any further for information as cloud computing technology is here to solve your problem. It encompasses the solution of all your problems. You can consider this option because it knows how to meet with your troubles that are surrounding you. You should switch to this reliable option as it will always take your business to a better direction.

Cloud computing technology is very essential business application software which can do wonders to your business. It is filled with all the qualities you require for successful business if you are having shortage of funds. These are available in the form of web based applications for your business. You should not worry about its maintenance because you have to pay very little cost for it. This is a very minimal fee charged for your monthly subscription.

Various cloud computing providers are there in the markets which supplicate with all the information or resources to small or medium sized businesses who cannot afford to get the required IT infrastructure to make their business relevant in this competitive world. Cloud computing technology is very effective because it covers all the requisites of the company to make it the best possible enterprise.

These providers always utilize the latest network servers, workstations, fast and reliable network connection, redundant backup systems. Apart from this, the cloud computing providers ensure that the enterprise gets the best output from their service. Thus, the team they have is comprised of professionals, gurus and geeks who struggle hard whole day to give the business owners the best output. They are very dedicated towards their work. The cloud computing providers make your business successful by their continuous and rigorous IT infrastructure service. It acts as a substitute for your private IT infrastructure within your company.

There are many companies who just lag behind because of the inadequate facilities and at times due to the level of standards. There are many reasons that can cause your business to suffer and most important is the point to be checked where you stand in this competent business life. If you want to succeed in business you ought to follow latest technologies. The cloud computing technology is the reliable source for you to compensate your IT infrastructural needs. If you are having small or medium sized business then you should not delay in selecting the cloud computing provider that can help you to develop your business according the latest trend. You will be at benefit by using this service because the providers will ensure that you are introduced to all the upgraded business applications.

The cloud computing technology lets you to be ahead in business and you can match up to the level of big enterprises. You can now forget all the past instances where you were losing hopes to succeed in business by the truncated team for rising in the business. The cloud computing providers that are always available to provide every business enterprises with the necessary business application make your journey towards the successful business very convenient.

Previously, you had reasons to feel incompetent in the business but now you have all the more reasons for being happy. This is so because you can now have a control over data center for your business application software needs with the help of the cloud computing technology. You get an opportunity to face the large enterprises because you have a very reliable support of these providers of the latest business applications.

Cloud computing is an internet-based technology that helps in computing. It further gives business owners a chance of having an access over the latest resources such as software, information or tools that are unavailable to them. There are many companies who cannot afford to rise because of their budget. The term 'Cloud' in the cloud computing technology denotes that when the providers are representing the data then they use the 'cloud' symbol to mention the variation in data flow. It is a very advanced technology and aims to serve all the needs of small and medium sized business owners to rise.

What NOT to Do to Keep Your Home Based Business a Success

There is a saying in the Home Based Business world (or at least a saying among my Home Based Business friends), and that is, "The great thing about the Home Based Business Industry is that anyone can do it. The worst thing about the Home Based Business Industry........ is that anyone can do it.

For the most part, starting a Home Based Business is fairly simple. Find a sponsor, sign up, and you are pretty much off and running. But the thing that most people don't consider is what they shouldn't be doing in regards to prospecting, training, and running your business in general.

Don't feel like you have to talk to everyone you come in contact with and try to sell your opportunity.

Once people start a Home Based Business, they are incorrectly trained to go out, make a list of friends and family and call them constantly about joining the business. They are also taught to always be looking for an opportunity to bring up the business opportunity in conversations. Even if they are standing in line at the grocery store, find a way to start talking to the person behind you and look for a way to bring up the business. This outdated method is still taught today, and you will see tons of information telling you it's an outdated method, but no one really explains why. Well don't fret, I'm here to explain why.

The reason it doesn't work is because people are so inundated with advertising and sales pitches today, that we shut people or advertisements down in the blink of an eye these days. It's almost like it's human instinct now. I mean think about it for a second. How often do you fast forward through commercials on TV now that we have the ability to do so? How fast did you sign up for the do-not-call list as soon as it came out? We as a society hate being sold to. Even if it is something we might need, the minute someone tries to "sell" us something we most likely shut down and block them out. When you drive do you even notice the billboards anymore, or are they just a part of the landscape that doesn't even enter your mind?

So if it doesn't work why are you taught this way? Well, it's a really simple answer. Because it's the easiest thing to teach and it's easy to teach it to others. Home Based Businesses leaders teach this to their marketers because, quite frankly, they don't know how to teach any other way. They give you a script, tell you to make a list of people you know, and give you a shot in the arm with an enthusiastic "Go get'em partner!", and they hope that the numbers will work in your favor (here is a little secret, that rarely turns out well for the new marketer). And, when they are not getting any results, they tell the new marketer to try harder. Yeah, that's helpful, try harder, keep calling the people that won't even pick up the phone anymore when they see your number on caller ID, there is a good plan.

They think it's to difficult to teach new people a different way, a better way of marketing their opportunity. So they give you some watered down, out of date system that will leave you frustrated and broke. Well there is a better way, there is a more effective way, and I will talk more about that in the next section.

Do not sponsor everyone that wants to get involved!!!

Huh???

Yeah, you read that right. I mean you could sponsor everyone that wants to start a business. In fact if you love to be annoyed, bothered 24/7, frustrated, defeated and depressed, by all means have at it. Remember this line from earlier?

"The great thing about the Home Based Business Industry is that anyone can do it. The worst thing about the Home Based Business Industry........ is that anyone can do it.

Let's get down to brass tacks. Not everyone is meant to start, own and run a business. Plain and simple. Might not be a nice thing to say, but it is a true thing to say. A Home Based Business owner, or any business owner for that matter has to have a certain type of desire and mindset. Now I'm not saying they have to be smarter than the average bear, not the case at all, but they do have to have a specific mindset. They have to understand that there is work involved, and that growing a business takes time and energy, and it takes dedication. You can't just expect to succeed by taking the easy route.

That being said, you as a Team Leader have the responsibility, I will even say an obligation, to yourself and to the person / people you sponsor, to make sure that they "get it", and understand what it takes to become successful in this competitive industry. You have to make sure that they understand that, even though you are there to always help them and work as a team, that they will eventually have to work independently after they are trained. Now I'm not saying train them for 5 hours and send them out on their own, no no no, that is what the old school teachers do. I'm saying that you work together as a team, get the person trained, help them until they are comfortable, but this has to happen within reason. It shouldn't take 5 years. I would say it should only take a month or two of regular training and close teamwork. Let me tell you something. There is nothing worse than a person that calls you 24 times a day with dumb questions, complaints, and whines constantly. This will drain you emotionally, physically and just destroy your morale. You will be miserable and in turn the person you sponsored will be miserable and broke too. Believe me, I went through it, and I promised myself that I would never go through that again. I would rather have three reps. on my team, that get the business model, have the attitude to succeed, and can work as a team as well as independently, and not be constantly dependent and need to have their hand held every step of the way, than to have 100 people that are just gonna drain me emotionally. IT"S JUST NOT WORTH IT!

So when talking to others and they show interest in becoming a business partner of yours, make sure they have the qualities it takes to run, own and grow a business. It's not hard to figure out if they "get it" or not. Most people can figure out if a person has "it" or not. And if they don't have the qualities, then just politely tell them that this might not be the best option for them and move on. It amazes me how many Home Based Business owners are so afraid to say no to people. If you are so worried about sponsoring people that you will sponsor a person who will make you miserable, I might suggest that you look into another type of work, because you will have a long painful road ahead of you.

Do not educate yourself constantly.

So we have discussed how many companies train you the easy, watered down, ineffective way. They teach a system that is easily duplicatable to everyone, but is hardly effective for anyone. Now, it's not the companies fault mind you, they have to find the easiest way to get people started, but again for the person that "gets it" this will not be enough, because, well, you want to succeed, and the people that don't "get it" won't go past the basic training the company provides, and they will fail and quit because they won't understand what we are about to discuss. But again, you won't have to worry about people on your team quitting because, as we figured out earlier, you only sponsor people with the right qualifications, RIGHT?:)

You need to constantly add tools to your business tool box. There are some great programs out there to help you take you business to another level. It amazes me how new Home Based Business owners will invest in starting a new business and then not invest in their business education. Does a doctor graduate medical school and never educates themselves any further? Does a real estate agent consistently study the real estate market and it's trends? Well the Home Based Business owner has to do the same thing. They need to plug in and study what the leaders of the industry are doing. They need to keep up on the trends and they need to invest in their education. I personally require my new business partners to purchase some of my favorite educational tools because I know it will help them in the long run, and if they don't, they will not become a part of my team. I mean if you are not willing to invest in your education and training, how much success do you think you will have? Not much.

Be impatient.

Rome wasn't built in a day and your Home Based Business won't be either. It is not a "get rich overnight" thing, nothing is. People that tell you that are lying to you, plain and simple, and they do not have your best interest in mind. It takes time to build and grow a business, and you need to be ready to put the work in. How long does it take? Well there are so many factors it varies person to person, but on average I will say 1-2 years to really start making a substantial income. Is that to long for you? Well then you are not made for this business. Any professional knows that this is the general rule of thumb for any business in any industry. If you don't have the patience to wait that long, you might want to just work for someone and and not start your own business. You also need to sustain yourself while you are building. As i mentioned earlier, if you are going to invest into starting a business you need to also invest in your education. Now I'm not talking about thousands of dollars in educational tools and trainings but there does have to be some money invested nonetheless, but the money that is invested into your education will pay you back 100 times the cost in the long run. You also need working capital for advertising, marketing and the general running of your business, again, no different that any other type of business, but remember these costs are significantly lower that most types of business, but they are things you need to be aware of if you want to own a successful Home Based Business.

Legitimate Work From Home Business or Home Business Opportunity Help And Advice

Legitimate work from home business or Home Business Opportunity Home businesses are one of fastest growing sectors of business today, with the recent recession people are looking for an alternative to finding work which can and is getting lower and lower paid.

The fact of the matter is that employers have to become more competitive as costs increase and clients want businesses to supply their goods or services for less. Therefore it is clear to see that employers who lost staff to the recession, are now re-employing but at lower rates, sometimes even at the minimum wage rate. This allows the employer to cut costs and become more competitive.

Let's face it if you were an employer under pressure you would do so too, it's basic supply and demand in that there are many hundreds of applicants for each job that comes onto the jobs market and it naturally follows that employers can and do find new employees for less.

This is where the work from home businesses have come to many people's rescue. This short article is written in order to help all those people who are looking to start up their own work from home business. I am certain many people who are at threat of losing their jobs or have lost their jobs would prefer to earn a real income from home rather than go back to work for less money than they are used to earning, I mean "How Much Do You Value Your Time" why should you work for peanuts to line somebody else's pocket?

One of my first work from home business mentor's favourite saying is this, "it takes just as long to go broke as it does to get rich! So don't get mad get wealthy!"

How To Get A Good Home Business Opportunity.

If you are going to start a home based business then trust me you are going to need a mentor, someone to set you targets, show you how to achieve your goals and be there for you when you need that home business coach and mentor.

Beware there are lots of make money online programmes out there but you must be careful, there are no secrets and there is no magic bullet, but there is a "Formula" a systematic approach that anyone can use to make money online in their own home based business opportunity, and it isn't that difficult, you just need someone to show you how and to help and encourage you.

Warning if you see get rich overnight offers on the internet and they seem too good to be true 99 percent of the time they are. The importance of researching any home based business opportunity cannot be stressed strongly enough. Like most people I fell for many scams and get rich schemes that cost me dearly, I very nearly went broke, so here are a few pointers to help you decide.

1. If a home based business opportunity seems too good to be true it probably is.

2. If someone rings you from a call centre and promises to show you how to make money online and how to build websites (which is easier than you think and any way you don't need to know how) they will usually ask for between $5,000 and $12,000 "Investment" tell them to get stuffed!

3. If a call centre member of staff on $10.00 per hour really knew how to make money online, don't you think he or she would be doing it themselves?

4. Stay away from MLM's and Matrixes unless you have hundreds of like minded acquaintances that will join you, trust me you will become avoided and very lonely.

5. Check out the business and who is behind it.

6. Have they succeeded online themselves?

7. Have they taught others to build a successful home business?

8. Does this work from home business have a track record of happy successful clients?

Please just use your common sense, analyze what's on offer, you need training and coaching, help and encouragement once or twice a week from a coach who has already made it. You need a coaching program and a personal mentor who was once where you are now.

Now when I first found a real opportunity after two years of being taken for an idiot, I was able to make a reasonable amount of money within 90 days. I stuck with this for a while and then went onto something bigger, I only tell you this so as you don't make the mistakes that I made, start with a low cost coaching program, and do not buy a home business study course, yes, many of them are superb, but until you learn the basic formula for a home based business you probably won't understand a word of it.

One of the main benefits of these businesses is that they are "earn while you learn coaching programmes" and I only know of a handful that will get you from where you are now to where you need to be quite quickly, and at a price affordable to the average guy, working or not.

Now I want to share my own experience with you all regarding the ups and downs of home based business opportunities as I have seen several people quitting their home business just because they think that they lack the necessary skills and investment.

Well let me tell you now, that is simply not true, I have met online entrepreneurs, who (and I don't mean to be offensive) if you met them you would think they are retarded, and I mean it, yet these people are very wealthy, surely if they can do it - you can too! Start with a low cost earn as you learn business, and very soon you will be a successful work from home business entrepreneur.

Word of warning Never start with an MLM or Matrix, they only make the guy's that run them rich!

Success in any internet marketing business is built with knowing the formula, the systems and systematic approach to online marketing. The second step is learning, and please remember that your time and my time are limited resources. These are precious resources must be carefully used at all times.