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I'm working on starting my own part-time home-based freelance writing business with a goal to open in Oct. 2011. I am currently beefing up my skills, portfolio, building a website and learning as much as I can about filing with my state, taxes, trade name, etc. But I'd love to hear from people who have already done it.
Specifically, tell me:
1) What type of business to do run?
2) Has it been profitable?
3) How much money does the business earn annually?
4) Is this a side business or full-time?
5) How do you advertise or get clients/customers?
6) Biggest challenges?
I recommend using SBA/SCORE resource in your local area. They offer classes for the small business owner in a variety of topics to include business planning, taxation and finances. The classes here are held ever other week and cost $10.
It's nearly impossible to make good comparisons of dissimilar home based businesses. I'll give you a snapshot of mine though.
1) What type of business to do run?
Knifemaker
2) Has it been profitable?
Yes
3) How much money does the business earn annually?
I report $10k annually
4) Is this a side business or full-time?
Side
5) How do you advertise or get clients/customers?
Word of mouth, posts on custom knife forums, passarounds
6) Biggest challenges?
Finding time to fill orders, learning to say "no" to customers, balance life with a full time/part time job
I am just starting up project accounting services for QuickBooks clients. I have the pro advisor designation but am concentrating on offering advanced reporting and cost management/cost accounting project work. I am also offering help in implementing ERP/MRP and inventory software add-on programs.
I started the first of the month but had a major setback that delayed any serious marketing efforts. The software I was planning on using for a lot of the work turned out to be a poor choice. The learning curve on the replacement software is steep and I am needing time to master it.
This is going to be a full time business. I feel there is enough need that I will be able to make a decent living.
My marketing is directed at other pro advisors in my area and I intend to market to local CPA firms later. My "in" will be offering subcontracted reporting work to area pro advisors. This will provide the pro advisor with additional services they can offer their clients and provide an opportunity to expand their business relationships. They will have a certified pro advisor working for them, generating reporting on demand.
I will use this "in" with area proadvisors to market my cost management/cost accounting services. All the tools I would need to extract data for the reporting are also capable of extracting data for the cost work. I think it is a pretty good marketing plan because I have a list of pro advisors in my area. There is no list of companies that use QuickBooks. On top of that, the pro advisors will be aware of my services as a cost accountant. This is an area that NONE of the local pro advisors offer.
I'm working on starting my own part-time home-based freelance writing business with a goal to open in Oct. 2011. I am currently beefing up my skills, portfolio, building a website and learning as much as I can about filing with my state, taxes, trade name, etc. But I'd love to hear from people who have already done it.
Specifically, tell me:
1) What type of business to do run?
2) Has it been profitable?
3) How much money does the business earn annually?
4) Is this a side business or full-time?
5) How do you advertise or get clients/customers?
6) Biggest challenges?
Thanks!
What kind of business are you trying to start exactly? Are you trying to be like a PR firm? Or are you trying to do freelance write for technical directions, blogs, newspapers, etc?
Depending upon what your trying to do it may be better just to be a sole proprieter, why spend all that time, effort and organization on paperwork if you don't need to, especially if it's going to be a side thing.
Why not start a free blog through blogger and run adsense and see if you can develope a following.
I guess if your going the PR company route youll want a real business. If you just want to be a freelance writer probably nto necessary.
What kind of business are you trying to start exactly? Are you trying to be like a PR firm? Or are you trying to do freelance write for technical directions, blogs, newspapers, etc?
Depending upon what your trying to do it may be better just to be a sole proprieter, why spend all that time, effort and organization on paperwork if you don't need to, especially if it's going to be a side thing.
Why not start a free blog through blogger and run adsense and see if you can develope a following.
I guess if your going the PR company route youll want a real business. If you just want to be a freelance writer probably nto necessary.
I am planning to do a sole proprietorship but using a business name. So I just need a EIN, register my business name and register as the sole business owner.
I plan to start out doing many copywriting; advertising, web copy, direct mail and email copy, sales letters, then add proposals and more business writing. I've been doing this for over 5 years now and hve seen others bring in some nice side cash so its time for me to jump in and just do it.
I am planning to do a sole proprietorship but using a business name. So I just need a EIN, register my business name and register as the sole business owner.
You don't need an EIN if you are a sole proprietorship unless you have employees, the id of your business is your SSN.
I prefer to have one. I don't want to give out my SSN.
You'll have to give out your SSN regardless, a sole proprietorship is a disregarded entity and the only time a sole prop is going to use their EIN is with dealing with pay roll taxes, etc.
You'll have to give out your SSN regardless, a sole proprietorship is a disregarded entity and the only time a sole prop is going to use their EIN is with dealing with pay roll taxes, etc.
I plan on using an EIN instead of my SSN. Clients sometimes need them.
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