Starting and Managing a Business From Your Home

How to Learn From Experience

First, work closely and creatively with professional advisors, such as your lawyer and your accountant. As you continually review your business records, you will see "mistakes," but you will also begin to develop skill in planning and managing.

Second, continue to learn about all areas of business operations, constantly acquiring new ideas. Most community colleges have short, inexpensive, practical courses for business owners in topics like "Financing a Small Business," "Choosing a Small Business Computer," and "Starting and Operating a Home-Based Business."

Third, get to know other business owners with similar needs or problems. Talking with others may be a way to avoid repeating the mistakes they have made and benefiting from their experience. Local and national organizations offer membership, social events, networking opportunities, newsletters, and seminars for homebased business owners. Through these organizations you can often advertise your product or service to other business owners. They also provide a way to learn about services you may need, such as accounting, public relations, or a responsible secretarial service. These organizations offer updates in such areas as taxes and zoning in their newsletters and workshops.

Finding and Using Resources, Networks, and Support Groups

Start out with the attitude "Whatever my current business problem, I can find the solution. Somewhere there is information, a book, a person, an organization, or a government agency that can help." A word of warning though: finding resources and building networks can be very time-consuming. Joining organizations can turn out to be expensive, especially if you are too busy to use their services and support once you join. So use this list to organize your search for resources useful to you, then pick and choose carefully what you decide to read, join, buy, or attend:

Your Public Library: Visit your local library. Get to know its resources. In addition to books, many libraries offer free workshops, lend skill-building tapes, and become a central place to pick up catalogues and brochures describing continuing education opportunities for business owners. Ask the librarian for current copies of zoning regulations. Get familiar with new books and resources in your field (computers, health care, crafts, etc.) as well as in business skills (advertising techniques, financing, etc.) Look for magazines such as In Business, Black Enterprise, Venture, or The Journal of Small Business Management. Reading selectively is free. Subscribing to too many magazines may be expensive.

Organizations: A wide variety of local and national organizations have sprung up to serve the informational, lobbying, and networking needs of business entrepreneurs. Through meetings, services, or newsletters, groups such as the National Association of Women Business Owners, American Entrepreneurs Association, Business and Professional Women's Club, National Alliance of Home-based Businesswomen, and the National Association for Cottage Industry offer members everything from camaraderie to valuable "perks," such as group rates on health insurance. David Gumpert's book, The Insider's Guide to Small Business Resources, has addresses of many of these groups and other information on such resources.

Government Resources: Contact your local or district office of the U.S. Small Business Administration (SBA) to learn about SBA services and publications. The SBA also offers free or inexpensive workshops and counseling through SCORE is a volunteer program sponsored by the SBA through which retired executives who have management expertise are linked with owners/managers of small business or prospective entrepreneurs who need help.

The Department of Commerce, Bureau of the Census, Department of Defense (procurement), Department of Labor, IRS (ask for the free "Business Tax Kit"), Federal Trade Commission, and the Government Printing Office all have publications and services to inform and support you. Local and state government offices may also have services to help you. Addresses will be available in your telephone book, under U.S. Government, at your public library, or at the SBA office near you.

Community colleges: Most community colleges now have short, inexpensive, noncredit programs for entrepreneurs. The classes usually are convenient to business owners and are taught by experienced owners and managers.

As a home-based business person you can overcome feelings of isolation and give and receive valuable information if you tap into networks and resources. Being active in professional and trade associations will help to build a good marketing network for your service or product. Take the time and invest the money for memberships. Then continually evaluate which organizations and resources best serve your business information and networking needs.