Actually, the figures refer to what it would cost if you were to embark on a full-time, non-home
based operation. For most home based businesses, the start-up cost is around Usd200 -Usd500.
Of course you are wondering: how you are going to purchase all the equipment necessary to start your business - especially computers? The answer is in leasing and outsourcing.
By leasing, you will be able to purchase a high performance PC for a downpayment of a few hundred Ringgit and pay instalments of about Usd200 monthly. It is important that I use a computer for an example since for most operations you would only need a computer to perform most tasks. Many companies offer this option. You might also want to check out if some companies allow credit card purchases. The repayment on the amount you have used is usually very affordable.
If you do not want to commit yourself to any debt, then outsource your work to other part-time operators. I foresee that most of your marketing communications will involve the printing of letterheads & envelopes, invoices, receipt, business cards and brochures. I started off my first home based business, a language consulting business, without a PC and I use a part-time Desktop Publishing operator to handle all my marketing communications. Of course, the cost per task is more expensive than if you were to print your materials on your own but at an expense budget of Usd200 a month, I cannot be too choosy. Also, look around for a cheap photocopy shop for making multiple copies. If you agree to use their services on a long-term basis, you will be given very good rates.
Looking Big
If you are running a business, you want to look as big as possible to instill confidence in your first-time customers. Once they like your work, they won't care less if you work part-time from home. So, please use letterheads, printed envelopes and business cards to convey this message.
Also, you must take note of the following:
1. Any phone number you give must must be a land line i.e. not exclusively a handphone number. A business card with only a handphone number smacks of a fly-by-night operation. Although you work somewhere else during the day, you can create this image by giving your home phone number as your business number and diverting all calls from your house phone to your handphone. You can even describe it as a '24 hour hotline'! Let's see your corporate competitors do this.
2. Any good business should have a fax. It's best if you have a fax machine connected to your second line. However, if you don't, give your business number as a phone / fax number. If somebody sends in a fax, answer the call quickly and say " I'm sorry our fax is not working today. Please fax your document to our associate company". What you do next is to run to your office's fax to intercept your fax!
3. If you live in a house, it is okay to use it as your business address. This can pass off as an office in a shoplot. But if you live in an apartment or condo, it will be obvious that you work from home when
2.they see the address. Consider using a rented mailing address for this purpose. Look up management services companies in the Yellow Pages which provide this service but make sure it is close to your office so that you collect your mail easyily
Possessing Relevant Skills
Your partners will be those people who have the skills you need but don't have. The difference between you and them is that you are an entrepreneur and they are not. Your function is to sell their services to the market and make a profit out of it. They'll be only too glad to have you find a buyer for their services and make more money per day than they can a week. How you split the income is between you and your partner.
But you should at least try to learn as much as possible about the service that you are selling so that your selling job is easier. Most importantly you should learn the skills required so that you can perform the actually task yourself if required.
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