Fall 2017 Home Business by Home Business Magazine

H H O O M M EE B B U U S S II N N EE S S S S

225+ HOME-BASED BUSINESS START-UPS GET STARTED TODAY!

Home-Based Business & Opportunity Magazine

Fall 2017

20+

Special Finance Issue

FAST CA$H! Raise Money FAST for Business Start-Up & Expansion! - Pg. 14

MOBILE START-UPS – Pg. 22

MARKETING HACKS: 5 Online Advertising Tips PARTNER UP with Social Stars AMAZON ADDICT: Make Serious Money PEAK EFFICIENCY in Your Home Office CASH CRISIS: Avoid These Mistakes E-COMMERCE BIZ: Checklist to Follow Display Until 1/2/2018

INTERVIEW: GYLLENHAAL “Turning Points in a Career” – Pg. 20

L.A. Writer Takes on Tinseltown - Pg. 26

Finding Home-Based Franchise Success - Pg. 35

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SUCCESS STORY

Imagine if you could get paid monthly on these services that people already use!

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Home Business Fall 2017

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GET PAID

BRIDEY BRI RIIDEY EY Y ORTH ORT

JUST LAUNCHED! Earn Commissions on all Credit Card and Debit Card Purchases

When People Pay Their Monthly Bills

Shane Douglas, one of the home-based business industry’s top income earners and trainers is looking to mentor the right motivated individual this year to achieve success with his premier home based business model. Visit www.BTHE1.com

t’s a fact that everyone has utility and monthly bills: Electric, gas, cell phone, TV, Internet, and the list goes on. And no matter how financially

challenged or wealthy someone may be, these essential services are needed and can never be paid off; everyone will have to pay for these services for the rest of their lives out of necessity.

So when a global company is open in 24 countries worldwide and endorsed by one of the wealthiest people in the world, who features this company on his hit primetime reality TV show not once but twice, says you should find out more, would you want to hear more about it?

The way Shane has grown to be one of the top income earners and trainers in this business is by following the system the company offers all of its independent business owners (IBOs). He says that he tells people they can get the same services from the same major service providers, but get paid. Then, according to Shane, all he does is direct them to his online store, which is included in the companies start up business package.

What if this same company said they’d pay you generously for helping others get paid when they pay their monthly essential bills, would you want to know even more? Shane Douglas did, and it’s paid off in an incredible way for him. It’s been 10 years since this Idaho native living in a town of just 1,500 people

“Our system can be 100% automated for you,” he explains. “Simply direct potential customers to your online store that the company provides for you, and they can sign up for any of these services with many of the major companies that are available in their area. When they sign up on your online store, you receive a residual commission every month when they pay their bills. It’s that simple.” The key to his success, he says, is that he doesn’t complicate his business; he just goes out and shares the company’s program and his personal story. ”Before you join some other company that makes pie in the sky promises,

started his home-based business helping people achieve their financial goals and showing them how they too can get paid every time they pay their own

ask yourself one simple question. Would people I know buy this product/ service even if I wasn’t involved with this company and making money? If the

monthly bills. “I was tired of all the promises from other companies that say you can

answer is NO then you should be prepared to be in sales and the team your going to build better be prepared to be sales people. Because no matter how

become wealthy over night only to find out you have to sell and teach others how to sell products that are either overpriced or only appeal to a small percentage of the population,” says Shane.

much money they say you can make it won’t matter if you or your team of business partners can’t sell. This is where we are different, as I said before we only provide essential services that people need, want and can’t be paid off. This is an incredible

“Our company is different: We only offer services that people pay on monthly basis like gas, electricity, TV, internet, cell phones, home security and more. And I don’t sell anything; I just simply show others how to get paid every month for services they were going to use anyway and teach others to do the same.” Shane explains that recent deregulation of Energy providers around the

business model with the right services behind it,” says Shane “It might not be sexy—it’s utilities after all—but it is simple to just share the story. Everyone can relate, because everyone pays these bills, because they have to,” he says. “I’ve been fortunate to have had major success with this company by taking

country has opened up a significant opportunity for more people to choose who they get their service with, people like to know they have a choice, Shane says. This, in turn, creates more opportunity for entrepreneurs to grow their

action and so has my team. We’ve expanded all over the world by sharing this simple concept with others. Shane is looking to mentor the right motivated individual this year to the same level of success that he has accomplished,

business with our company.

would you like it to be you? ■

“In this declining economy, home-based businesses are on the rise. People want to supplement their income and possibly replace their incomes while working from home. So the opportunity to get paid every single month when

To see more information about this company go to www.BThe1.com. Their proven leadership, who started out just like you, are here to

someone turns on their lights, heats their home, uses their cellphone watches

answer your questions and help you get started.

TV, logs onto the Internet or arms their security system is a no-brainer,” he says.

www.homebusinessmag.com

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Fall 2017 | Home Business

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MAKE YOUR LIFE S WORK A â&#x20AC;&#x2122;

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WORKFROMHOME SELLINGCRUISES Take the First Step Today and Reach out to our Business Opportunity Specialist

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Contents

Home-Based Business & Opportunity Magazine

Magazine Fall 2017

BUSINESSES & OPPORTUNITIES

Monetize Online Shopping. Twenty tips on how to make serious money on Amazon.

Small Biz Ad Marketplace.

Classified Ads.

Amazon Riches: Find unique products not being sold on Amazon and be the first to list.

HOME OFFICE

38 Business Funding: What funding options are out there for the home business owner in 2017?

41, 42

FEATURES

20 22

Funding a Business. 6 Ways to Get the Cash You Need. Interview with Jake Gyllenhaal. On What Gives Him Comfort in Life, the Movie Business, and His Netflix Work, Okja. 20+ Home Business Start-Ups. Perfect for the Fall.

Jake Gyllenhaal: “I think there is no better way than here in America to work as hard as we can to express ourselves than now...” – Jake Gyllenhaal

34 36

Ways to Be Tax Savvy. Get ahead of

Why Small Businesses Fail. What your accountant is not telling you and steps to take.

Tax Savvy: Make the moves now to get juicy tax savings.

WORK-FROM-HOME SUCCESS STORIES

Letter from the Publisher.

Inside Look at Tinseltown.

Trading Stocks for Spirits.

Gift Bag and Giving Lounge King.

Online Advertising Tips. 5 marketing hacks

Capitalizing on a Taste for Pizza.

that will grow your business.

A Sustainable Movement.

Sports Supplement Queen.

Letters to the Editor & Notice to Readers.

MARKETING & SALES

Partner Up with Social Media Stars. Make a business known through influencer marketing.

Home Office Efficiency: Design and equip your workspace for success.

the tax season with key strategies to save later.

NEWS AND REVIEWS

10 12

Product Reviews. Hot items for the home office.

MONEY CORNER

Work-at-Home Success. Master these six habits to keep your home office at peak efficiency.

Influencer Marketing: Develop a sophisticated and integrated digital marketing campaign.

Los Angeles Writer: Meagan Sargent is the founder of IdentifyLA.com.

Fall 2017 | Home Business

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Magazine M i Volume 24 Issue 5, Fall 2017 www.homebusinessmag.com

The Home Business Team ®

Publisher Richard Henderson United Marketing & Research Company, Inc. Editor-in-Chief Stacy Ann Henderson Managing Editor Sherilyn Colleen Publicity Editor Shannah Carol Graphic Services Kara Primm, Slice, Inc. Production Manager Jon Crossley, Ultra Graphics Digital Ad Production Angel Macias, Ultra Graphics Art Direction Richard Rabil Advertising advertise@homebusinessmag.com Phone: 800-734-7042 Shayla Christine http://www.homebusinessmag.com/magazine-advertisng http://www.homebusinessmag.com/online-advertising Distribution Manager Richard Trummer, Curtis Specialized Circulation Bob Kennedy, Cavendish Media Circulation Manager Dennis Porti, Curtis Michelle Ingenito, Curtis Subscriptions Publication Fulfillment Services Int. Call 888-881-5861 - M - F 8am-4pm PST. For International, call 714-226-9782. Fax: 714-226-9733 Email: homebusinessmag@pfsmag.com Print Manager Keith Oelke, Quad Graphics Mark Quartaroli, Quad Graphics Reprints Betsy White, The Reprint Outsource, bwhite@reprintoutsource.com Mailing Lists www.homebusinessmag.com (Click on “Mailing Lists” to order) Mailing List Manager Danny Grubert, Danny.Grubert@lakegroupmedia.com List File Manager Travis McMillian, Lee Coats Newton Digital Media Manager Jim Pappadeas, Epsilon Digital Media E-Readers Bob Mehta, Supremus Group Rachel Unclebach, Libre Digital Internet Manager Robert Edwards SEO Janice Johnson, Search Engine Optimization Social Media Shelby Cara At Your Service Portal Lisa Schneegans, Buzz 360 I T/Computer Operations Jim Easton, letmefixyourpc.com Customer Service Email: customerservice@homebusinessmag.com Phone: (800) 734-7042 Fax: 714-388-3883

Editorial Kavita G. Sahai, Russell Smith, Keith Tully, Mark A Gilbert, Kayla Matthews, and others.

Distribution Curtis Circulation Company 730 River Road New Milford, NJ 07646 Tel: (201) 634-7400 Fax: (201) 634-7499

Home Business® Magazine Home Business Magazine (ISSN 1092-4779) is published by United Marketing and Research Company, Inc., 20664 Jutland Place, Lakeville, MN 55044. 6-issue Subscription Rates: Domestic $19. Canadian $39. Foreign $59. For Subscriptions: 714-693-1866, M–F Periodicals Postage Paid at Lakeville, Minnesota, and at additional mailing offices. POSTMASTER: Send address changes to Home Business® Magazine, 20664 Jutland Place, Lakeville, MN 55044.

LETTER FROM PUBLISHER

One of the “Big Two” for Start-Up – Money! Any New Entrepreneur Can Access Business Financing Looking at the fundamentals, biz start-up success comes down to two key factors: demand for product/service, and money for business start-up. Lack of funding is a main reason why too many budding entrepreneurs stay locked in day-job cocoons. But start-up funding does not have to be a barrier. Raising money is important for ALL entrepreneurs, not just starter-uppers. If you have a successful home-based business, expand or diversify it to the next level. This takes money too! In reviewing start-up funding options, I like to start with conventional options. There are bank business loans, SBA loans, and financial service companies. These are usually not the best options for new home business owners. However, if you are in a distinct category, such as a veteran or minority business owner, SBA loans are more feasible (but you’ll lose time with red tape!). For those with positive home values, home equity loans are an excellent conventional option. These are easy to set up, convenient, and have built-in tax advantages.

“ The big negative, and where “guerilla operations” will help you, is with interest expenses. A somewhat conventional option — one highly recommended — is to use financing from the offeror of a business, sometimes called “third-party financing.” Usually an option only from home-based franchises and larger business opportunity offerors, third-party financing should be a “first stop” in start-up funding. It’s highly favorable in that the focus is to get your business up and moving, and not about gouging out interest and fees from you. Let’s move into the fun zone of “guerilla financing.” This is a viable playground for new home-based entrepreneurs, particularly part-time biz operators. Credit cards are their dominant financial tool. Part-time homebased businesses require relatively less start-up funds, with a day job helping to cover expenses. This makes credit cards a great fit. Just about anyone with a reasonable credit score can access a credit card with enough of a balance to launch a typical home business. The big negative, and where “guerilla operations” will help you, is with interest expenses. Credit card negatives have relatively high interest rates and fees. But with savvy operations, you can keep interest charges low. Shop for a card with the longest initial period of low or no interest fees. Use credit cards smartly with purchases. Rather than transferring cash from the credit card into your business bank account and then making purchases, make direct credit card purchases. Most credit cards charge large transfer fees up front and maximum fees on an ongoing basis to withdraw cash from the card. Other guerilla financing options lie in your “warm market” of friends and family. But you should only access them for short-term financing. Make plans for quick payback. If you have large initial purchase orders or contracts, you might be able to work with a smaller bank or finance company to sign these over as collateral for financing. This is sometimes an option for a new consulting company. Finally, look for partners — active or silent — who will fund your business for a percentage of the revenue or profits. New guerilla financing options are through crowdfunding websites. These can be jackpots for the right business at the right time and are generating lots of buzz. But I haven’t seen a lot action here for the smaller home-based start-up.

Printed in the United States

Publisher, Home Business® Magazine 10 Home Business | Fall 2017 ®

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How To Make Money With Non-Lethal Self Defense Products? For 29 years, 1000’s of people have made $5000, $10,000 a month and more by selling the 500+ much in demand, non-lethal, self-defense products provided by Safety Technology. Here are 7 WAYS you can make money with our products.

6. SELL TO BUSINESSES - Sell surveillance cameras to convenience stores; stun batons, Tasers or metal detectors to bars and nightclubs; pepper sprays or personal alarms to hospitals for their nurses, etc. All these things have been successfully done by other Authorized Dealers…plus more!

1. SELLING AT GUN SHOWS - There is no better way to sell anything, then face to face. Selling at gun shows allows you to put your products in front of people who are definitely interested in defending themselves, their families and their home.

7. SELLING ON THE INTERNET WITH YOUR OWN WEBSITE – Without a doubt, selling on the Internet is the best way to reach the largest number of customers. We can even build a money making website for you and teach you how to sell on the Internet.

2. HOME PARTY PLAN SELLING - Yes, just like Pampered Chef or Tupperware! Except you get to keep all the money. You don’t have to accept a paltry commission from the mother company…you are the company. All the profit is yours!

There are many other ways to sell these self-defense and surveillance products. How would you sell them?

3. SELL AT FLEA MARKETS AND SWAP MEETS - Another great way to get the products in front of people. The advantage here is costs less and can do it at the same spot every weekend. Some flea markets even allow you to set up permanent displays. 4. SET UP ROUTE OF GUN STORES, PAWN SHOPS, NAIL SALONS, BEAUTY SALONS - We suggest starting with our pepper spray displays as a way to get your foot in the door. Great way to receive residual income...money on a regular basis because the stores reorder. 5. AUCTION SITES, SUCH AS EBAY AND AMAZON - One way to get your products exposed to a very large number of buyers is to sell on eBay and Amazon. Not only are the auction sites good for selling products, but also lead generation.

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Authorized Dealer at Gun Show

There is no fee to do business with us. Visit our website at www.helpdefendpeople.com to discover how you can help people defend themselves, their loved ones and their homes.

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DEAR HOME BUSINESS

Here are three tips for breaking out of a rut and creating new habits to act more courageously:

225+ D HOME-BASE T-UPS BUSINESS STAR

H H O O M M E E B B U U S SI NI N E ES S S S

GET STARTED

TODAY!

s& Home-Based Businese Opportunity Magazin

Summer 2017

Special Business

Expansion Issue

GROW IT! How to Make Your Home-Based Business Grow! - Pg. 14

1. Name Where You’re Stuck: Ask yourself what patterns have you settled into that may be holding you back? What imaginary barriers have you created for yourself? And what can you do to break through these self-limiting barriers?

-UPS SUMMER START – Pg. 22 reneurs for Millennial Entrep START-UP TIPS ure Start-Up Struct Set Up the Right Reach PLAY OFFENSE: to Grow Your Online SOCIAL EXPLOSION e Paperwork Streamline & Digitiz HOME OFFICE: FINANCIAL HACKS ses That Cut Biz Expen ONLINE AUTHORITY: sed Generate Increanue E-Reve 017

Display Until 10/2/2

HAYEK INTERVIEW: SALMA to Work” “Putting Life’s Wisdom – Pg. 20

Corporate Cubicle to E-Commerce Mogul - Pg. 48

WWW.HOMEBU

From Dorm Room Market - Pg. 25

SINESSMAG.C

15 Email Etiquette Tips for Millennials Millennials are the grand masters of short messaging. They text. They tweet. They rely on emojis to get their points across. And short is good, right? Sure it is, when you’re deciding where to meet up with your best bros. But now, as they enter the work world, millennials may discover that they’re missing an essential business skill — email etiquette. Here are 15 tips on email etiquette: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

Reply in 24 hours or less. Begin with a salutation. Introduce yourself. Show the topic in the subject line. Avoid joking and sarcasm. Make sure grammar, spelling, and everything else is perfect. Don’t use text lingo. Avoid all caps. Be careful what you write. Close with a sign-off. Take 5 to review your message before hitting “send.” Don’t overuse “Reply All.” Keep it short. Don’t send negative messages via email. Keep a thread. Denise Dudley Trainer and business consultant Author of Work It! Get In, Get Noticed, Get Promoted (SkillPath Publications) http://denisemdudley.com

New Habits: Break Out of That Rut Fear and self-limiting beliefs create imaginary boundaries that can keep us from acting in our own best interests. The reason? Our brains are wired to resist change. We don’t get stuck in a rut overnight, but slowly dig the rut every time we think or behave in the same way.

2. Visualize Goals: Most people hold back because they can’t figure out how they are going to accomplish their goals. Thankfully, you don’t have to know how because that’s not the way your brain works. If you have a clear picture of your goal and visualize it, your brain will work backward to find ways to make it happen. 3. Beware The Two Words That Kill Courage: The two words that kill courage are what if? What if I can’t do it? What if I’m not smart enough? What if I don’t have what it takes? What if... Anne Grady Speaker Author of Strong Enough: Choosing Courage, Resilience, and Triumph www.GetStrongEnough.com

Building Your Power Team Building a power team for your business goes way beyond the necessity of hiring. It involves vision and intent to create an internal support structure made up of people who really “get” your company and feel connected to your company in such a way that they are truly taking ownership of their piece as if it is their own business. To accomplish this: ■

Eliminate the disconnect: Empower your team to be aware and involved in understanding what you do on a day-to-day basis for the company. This may also help to reveal some tasks that could be undertaken by other team members from time to time.

■

Keep the team on track: When you notice that someone on the team isn’t producing work at the level you believe they are capable of, it’s good to check in. KPI, or Key Performance Indicators, are a great way to do this.

■

Help the team stay motivated: Giving team members a raise when you can is great, but studies have shown that’s not what truly motivates people. They want to feel like

We appreciate your feedback and work-from-home success stories for review and consideration. Please send both via e-mail to: editor@homebusinessmag.com, or via postal mail to: HOME BUSINESS® Magazine, 20664 Jutland Place, Lakeville, MN 55044. 12

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they’re part of something, like the work they do and the energy they put into the company is making an impact. Having occasional check-ins with each team member is a great way to support them in maintaining this level of connection to their work. Allison Maslan Serial entrepreneur, CEO of Allison Maslan International Author of the video series “The 12 Month Business Blueprint to Multiply your Profits and Simplify your Life” www.AllisonMaslan.com

Notice to Readers HOME BUSINESS® Magazine is sold as information only. The publisher, United Marketing and Research, Inc., considers its sources reliable and verifies as much data as possible, although reporting inaccuracies can occur; consequently, readers using this information do so at their own risk. The publisher has not done a background check on listed companies (which includes advertisers), nor does it know people at all the companies. The publisher cannot assume any responsibility in any manner for the actions of any of the listed companies, and the publisher cannot guarantee the outcome of any correspondence, arrangements, or subsequent transactions the reader may make with any of the listed companies. HOME BUSINESS® Magazine is sold with the understanding that the publisher is not engaged in rendering medical, legal, financial, accounting, tax, or other professional service. If medical, legal, or other expert advice and assistance are required, the services of a competent qualified professional person should be sought. The publisher, United Marketing and Research Company, Inc., assumes no responsibility for any changes of offers, nor for any companies/advertisers that may go out of business. All correspondence regarding questions or problems on a company’s (including advertisers) program, products, or services should be directed to the company, not to the publisher. Advertisers and advertising agencies assume liability for all contents of advertising and for any claims arising therefrom. It is up to the user of this publication to investigate the product or service offered, and to make sure the company is reliable and that the product or service meets the user’s requirements. United Marketing and Research Company, Inc., is not responsible for the delivery of merchandise, starter kits, supplies, or other products and services ordered from advertisers. ©1993-2017. Reg. # 4180563 and 4145799. TRADEMARKS: Home Business, Serial Number 74/713646 and Home Business Magazine, Serial Number 75-086596, issued by the United States Department of Commerce, Assistant Commissioner for Trademarks. Mark Type(s): TRADEMARKS: Conform to the minimum requirements set forth in 37 C.F.R. Sec. 2.76 (e); and formal requirements set forth in 37 C.F.R. Sec. 2.76(b) and (c). All rights reserved. No part of HOME BUSINESS® Magazine may be reproduced, stored in a retrieval system, or transcribed, in any form or by any means, photocopying, electronic, mechanical recording or otherwise, without prior permission in writing of the publisher, United Marketing and Research Company, Inc., Lakeville, MN 55044. Articles appearing in this publication express the opinions, experience, and research of its authors and not necessarily the opinion of HOME BUSINESS® Magazine.

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Home Business Financing in 2017 Launch a Startup Using Innovative Funding Options

F E AT U R E

By a Panel of Home Business Experts

s we enter fall, leaves change color and so do our career options. Many entrepreneurs make the leap to starting a new venture. Attaining capital for a startup must be approached in a tactical and thorough manner to cover legal bases, properly allocate funds, and smartly manage any borrowed money or loans. A panel of experts expand on the following: six ways to source funding; solid alternative funding options; and startup fundraising mistakes to avoid.

6 Ways to Get the Cash You Need By Russell Smith You have to spend money to make money. It might be a tired old cliché, but it is as true now as it ever has been. If you want to get your home business off the ground, you’re going to need money to do it. You may not need a lot — just enough for some hardware and software for your freelance writing business. Or, you might need very large quantities; perhaps you’re starting a boutique eCommerce store and require expensive equipment for production. Whatever your company does, you will need at least some money to start it and grow it. But where is this money going to come from? You may feel your funding options are limited as a home business, as you appear to be less established as companies with office blocks and rosters of employees. Actually, though, you have almost the exact same versatility as they do, if not more so given the fact your overheads are severely reduced. So, what funding options are out there for the home business owner in 2017? 1. Self-Funding Self-funding is a highly desirable method of acquiring cash for your home business, for a number of reasons — the biggest being that people like not having to answer to anyone, meaning they can run their business the way they want to without interference. It is also a much simpler method than some 14

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other options on this list, but of course, there is a downside. Self-funding means impacting your personal wealth with no guarantees you’ll ever get your money back. As with everything, you have to weigh the pros and cons of this particular methFriends and family are angel investors for a business. od of financial procurement. But if you decide to go down the self-funding route, you have a few options available: Savings — It’s obvious, but we have to mention it. If you have money in the bank, using it to start your business can save a lot of headaches when it comes to funding. Friends and Family — Financial input into your business can come from anywhere, even those closest to you. Support from loved ones with enough financial firepower to get your business off the ground is a blessing and a valuable method of funding. This is often known as an angel investment. Credit Cards — You might not have friends with money or savings to start your business, but that doesn’t mean you cannot access cash. Credit cards are an alternative to loans that can offer a simplified solution for smaller financial requirements. Equity Release — Those over the age of 55 who own a home have substantial amounts of money tied up in their property. Releasing home equity can give you the money you require to move your business forward, without introducing the stresses of other types of loans. 2. Crowdfunding Crowdfunding is a new-age technique that has risen to prominence amongst independent artists, creators and business owners in recent years. Done almost exclusively through online platforms, such as Crowdfunder or Kickstarter, the format is open to any home business looking to gain funding. For those unfamiliar, the concept is similar to business investment, in that somebody

means “Self-funding impacting your personal wealth with no guarantees you’ll ever get your money back.

”

else funds your company. However, instead of one person — or a handful of people — giving up money, you instead achieve your goals from reaching out to a large community, gaining small contributions from hundreds, even thousands of people. Crowdfunding is a powerful method of business funding, but it can also be slow and may never pick up the traction you want it to. Be prepared to market your project and put effort into building awareness. Make sure you have something worth crowdfunding and, most importantly, isn’t under major time constraints. 3. Capital Investors When discussing business funding, you cannot forget about investors. While you may consider this type of financial aid to be in the realm of high-tech, fast-moving businesses, any company with a good idea that has room for growth has the potential to attract investors. Continued on page 16

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“ I ‘Retired Early’...

Then Made $27,000 Part-time in a Business of My Own.” “$2 000 P “$27,000 Part-time i iisn’t ’ b bad d ffor a guy who h quit i hi his job. I ‘retired early’ from the insurance and securities business, now I make good money part-time with Pace, and have as much work as I care to handle.”

— A true story by a very happy Pace distributor. I’m still amazed how things have “changed since I became a Pace Distributor! Let me tell you how it all started... When the national “economy wasn’t going

The first year I did 15 roof jobs. Almost too well, I decided to double that the second get out of the business year, and had a huge I was in. I had given backlog. Most of these some thought to were big jobs like the retiring, but was really county home, the too young for that. Chevy-Buick garage, Well, it so happened bank building, city my own commercial hall. Big jobs mean big building had a money! leaky roof. Roofing “The business I used to contractors prices be in had been pretty were literally sky high! good to me, but I had Then I remembered to work both nights an article about Pace and days. With Pace, Products and how business just seems with their exclusive to fall into your lap. Seamless Spray process I don’t really do any you could actually promoting or ‘selling’... bypass high priced most of my sales come contractors. I sent for from referrals, and my their literature, saw phone is ringing all the how easy it was to sell, time. and I wound up doing “What I like to tell the roof myself using people is that Pace Pace products and offers a fine income know how. opportunity. You can “Well, word got around start working as little about how much as two hours a week, money I had saved then go full time when and that opened a your income exceeds whole new world of your regular job. opportunity. Ever since What our successful then I’ve been like a Pace distributor is cat on a hot tin roof? too modest to say is

”

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that he actually did over $100,000 worth of roofing business last year, in spite of living in a depressed farming area! And that’s working less than half of the year, leaving the rest of the time for his family and other interests. What makes Pace such a good business is that it costs a fortune for schools, hospitals, plants and other commercial buildings to have roofing companies repair or re-do their roofs. Pace bypasses the roofer — lets the building owner apply Pace Seamless Spray right over the old roof... and the smallest Seamless Spray order earns you over $2,000 in commissions. Pace ships the Seamless Spray equipment on Free Loan. Your customer pays only for the roofing products. His own men apply it (or if you want to make even more money, you can handle the application too). It’s as simple as that.

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9/1/17 10:05 AM

Home Business Financing in 2017 Continued from page 14

F E AT U R E

Investors may be organisations, firms or just wealthy individuals, often offering funding to a business in return for shares in the company or, at the very least, the promise of a return in their investment. Gaining an investor not only offers the benefit of funding, but also often comes with the bonus of contacts, knowledge and insight, as well as a reputation boost — although some home business owners may be deterred by the idea of having somebody else involved in business operations. Not every investor will want to get involved in the day-to-day runnings of a business, but be aware that you’ll have somebody to answer to if things don’t go well. 4. Business Loans There are definitely some less traditional funding options on this list of options available in 2017, but that doesn’t mean we aren’t going to mention the old favourites. Business loans have been around for centuries, offering home business owners a way of acquiring the capital they need to kick things into gear. You may opt for business loans if you cannot — or do not want to — find an investor and don’t believe the other options on this list are tenable for whatever reason.

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cards are “anCredit alternative to loans that can offer a simpliﬁed solution for smaller ﬁnancial requirements.

”

companies, which also means their regulations aren’t as closely monitored as banks. Be prepared to market your project and put effort into building awareness.

There are more than a few options for business loans, but here are the most common: Micro Loans/Term Loans — Quick and easy to obtain, micro loans and term loans offer home business owners access to small amounts of financial backing, without the need for lengthy applications or strong credit scores. Great if you need money quickly, although repayment rates tend to be high. These types of loans tend to come from third-party

Bank Loans — Bank loans might sound intimidating, but if you are looking for a good chunk of money, they are one of your best bets. The application process can be lengthy and often requires a lot of paperwork, but the end result is usually a reasonably-sized loan with agreeable repayment rates. SBA Loans — These are loans backed by the government-run Small Business Association. They offer long-term solutions with good rates and extra protection, although their application is tougher than your standard bank loan.

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5. Grants and Institutional Financing Perhaps more desirable than even self-funding are grants and financing from institutions and organisations. There is little in the way of downside to this kind of funding for your home business. Unlike a loan, you don’t have to repay the money you are given. Unlike investment opportunities, you don’t answer to anyone. Unlike self-funding, your personal wealth remains intact. But then, getting this sort of funding isn’t easy. You can only get this type of funding from certain organisations. Some state governments offer grants, but it’s largely from charitable organisations, industrial institutions and other big non-profits. The point of such grants is usually to support businesses doing something meaningful, challenging or potentially life-altering. Gaining this kind of funding for your t-shirt design business is going to be nearly impossible unless it’s a business that creates products using ethically sourced, completely recycled materials. 6. Business Competitions Winning a business competition is the

Gaining an investor offers funding and a reputation boost.

ultimate way to gain funding, above self-funding and even grants. The only method of financing you might consider more valuable than this is by gaining a highly influential investor, but such occurrences are very rare. Definitely considered an alternative method, gaining this type of financial stimulus is very different to any other method of funding application on this list. As such it offers very different rewards.

Winning a business competition not only gives you funding free of interest payments or stakeholders; it also provides industry recognition, unparalleled market exposure and the knowledge that others in your sector firmly believe you have a bright future ahead of you. There are plenty of competitions available, from fashion to fintech, meaning every home business out there can find at least a Continued on page 18

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Fall 2017 | Home Business

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Home Business Financing in 2017 Continued from page 17

dozen opportunities to gain funding through competitions.

F E AT U R E

Of course, these are very competitive environments, and in order to win you have to ensure your idea is well established and thorough. However, you have little to lose as well. Entry fees are usually low or non-existent and the only other input you require is time and energy. Perhaps the only downside to this type of funding is the aforementioned time and energy required. It often entails pitches, networking events and conferences, all without the promise of funding at the end of it. Unlike a business loan or line of credit, you also cannot apply and acquire the money you need quickly. Competitions can run for weeks or even months. With over a decade of experience helping businesses achieve their funding goals, Russell Smith, founder of Russell Smith Chartered Accountants, knows all there is to know about gaining financial support in 2017. Visit www.rsaccountancy.co.uk.

5 Solid Alternative Funding and Cash Flow Finance Options for Startups By Keith Tully Even though banks are a little more willing to lend to businesses these days, it’s not always easy to obtain finance as a startup company. So where do you go if the bank refuses your application for borrowing? Here are five alternatives to traditional bank finance that can help your business grow. 1. Invoice Finance Invoice finance includes factoring and invoice discounting, and uses the value of your sales ledger as the basis for funding. They are very similar in nature, but factoring involves the financier also taking control of your credit control procedures. Sales invoices are effectively ‘sold’ to the finance company with a pre-agreed percentage, often between 80% and 90%, being advanced, usually within 24 hours. The remainder becomes available once your customer has paid, minus the financier’s fee. Some startups might prefer their customers to be unaware they’re using invoice finance, in which case discounting would be the better option. Invoice funding helps to maintain positive cash flow as payments are received throughout the month, and the available level 18

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SBA loans offer long-term solutions with good rates and extra protection.

of funding grows with your business. 2. Asset Finance If the company owns one or more ‘hard assets’ such as plant and machinery, or vehicles, their value can be leveraged to introduce cash into the business. Asset finance uses a sale and leaseback arrangement, where leasing the asset back from your financier effectively repays the loan.

“Winning a business

competition is the ultimate way to gain funding, above self-funding and even grants.

”

Repayments are fully tax-deductible, and because the rate of interest is fixed when the loan is agreed, this type of funding can be a cost-effective choice that also helps with budgeting. You retain full usage rights of the asset, and are able to maximise its value before depreciation sets in. 3. Crowdfunding As mentioned earlier in this cover story, crowdfunding can be a fast and flexible way to obtain working capital, and involves a number of individuals investing in your company via an online platform. You set a target amount for funding and provide a detailed document that outlines your practical plans and visions for the future. Your business receives wide exposure to interested individuals both on the crowdfunding platform, which takes a fee for their service, and also on social media. There are two main options for crowdfunding: www.homebusinessmag.com

9/1/17 9:35 AM

Equity crowdfunding Anyone investing in the company does so in return for equity shares, and obtains a return on investment via dividend payments as the business grows and develops. Debt crowdfunding Also known as peer-to-peer lending, debt crowdfunding protects your equity, as investors receive interest on their lending rather than taking shares in the company. Crowdfunding is particularly beneficial for startups due to the broad exposure of their business idea, and the valuable feedback that is received during a campaign. Investors can also provide recommendations and spread the word about your business in their local area. 4. Merchant Cash Advance If you run a retail or service business that makes a large number of credit card sales, such as those in the restaurant industry, you may find that a merchant cash advance offers a good short-term solution to grow your business. Also known as a business cash advance, this type of unsecured funding is based on your average credit card sales over the

Invoice ﬁnance “ includes factoring and invoice discounting, and uses the value of your sales ledger as the basis for funding.

”

previous three to six months, with one of the benefits being that it doesn’t rely on your business or personal credit score. The financier will review the level of credit card sales, take account of your industry to determine their level of risk and offer a percentage of your card sales as an upfront payment. Repayment terms are flexible in terms of amount and length of time, are arranged in advance and taken from your daily credit card receipts. 5. Pension-Led Funding If you have accumulated a pension from any former employments, you may be able

SLUGGISH ECONOMY

Broker Notes from home and Earn Huge Fees!

Continued on page 46

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Fall 2017 | Home Business

9/1/17 11:20 AM

Interview with

Jake Gyllenhaal On What Gives Him Comfort in Life, the Movie Business, and His Netflix Work, Okja

F E AT U R E

By The Interview People Question (Q): Was your character in Okja inspired by a real person? Jake Gyllenhaal (JG): Bong (JongHoo – the director) and I discussed a lot about the insanity of a lot of these people that host these animal shows for children. This is a guy who is at the end of his rope — desperate for attention — just a horrible performer. There were a number of different people that Bong showed me clips of. And then we went off from there. Dr. Johnny is this strange unfortunate bridge between the reality of the movie and the fictional parts. He is just desperate for attention. But I was not modeling him on anyone specifically. The shorts were really chosen, and after that, everything got bigger and

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bigger as the shorts got smaller and smaller. Q: How important is the physical aspect of the performance for you?

“I think there is no better way than here in America to work as

hard as we can to express ourselves than now. The last thing to JG: There is a subdo is to run away.” – Jake Gyllenhaal tlety to what I do that sometimes you don’t may be the subject matter or the choice of the even notice what I am doing. So I was just‚ let’s character. That’s wonderful about Bong. He try something to the opposite. To me, all difwanted to see and do something totally different aspects are important. One of the most ferent and outlandish. And I loved that. I love important aspects to me is risk. A lot of people when someone wants to do that. And with his try to stay within some comfort zone. That’s film, I wanted to have fun. Bong is one of the never something I feel comfortable with. It

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most fun directors I have worked with. The set is wonderful, loving, and fun, and he is so respectful of performers and performing. He loves violence and humor, but at the same time he is so sensitive. He allows for a certain type of risk.

“There are things as you get older that you say, “You got to do it!” – Jake Gyllenhaal

Q: You are playing all these serious parts, but are you a fun person to be with? JG: Yeah, I am fun to hang out with! Moving forward, as you have the opportunity to continue to work as an actor, generally you care a little less about what people think, and you are allowed to present who you love to be. I just finished work on the stage, which is something I love deeply. People seemed surprised

855-609-6660

Q: You are at a strong point in your career; where did you realize, “I want to change everything?” JG: I don’t think there was a moment. I just feel there is a point at which you say to yourself, “Am I going against the grain of who I am or am I moving in the tide I should be moving in?” Bong I have known for a long time. We talked about a number of films. He always wanted me to be in movies, and we have always discussed that. Working with people who want to work with you, who believe in you, is something I only recently discovered. This business is all about chasing a hype. A lot of it is that. You see that often. But what I discovered more, it’s about working with people that believe in you and that you enjoy. And then you can bring out the best in each other. You can service a director’s vision, and it’s fun. It’s not all about being antagonistic. At a certain point, you want to work with people who believe in you. Q: What gives you comfort in life?

“What I discovered more, it’s about working with people that believe in you and that you enjoy. And then you can bring out the best in each other.” – Jake Gyllenhaal

JG: I would say the relatively obvious things. My family does. Comfort in life is a complicated, long answer. My work also gives me comfort in that way when you feel like you are expressing yourself — who you really are — and what you really want to do in your work. It reflects back in your life. My friends. All those things can be comforting. A warm bath? Q: Do you leave your comfort zone in life? Do you challenge yourself? JG: More and more, yes. It’s only been recently in my work that I feel really, really Continued on page 48

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that I knew how to sing, and I have been singing my whole life. There are things as you get older that you say, “You got to do it!”

Fall 2017 | Home Business

8/30/17 7:57 PM

20+ Mobile & Home Business Ideas to Launch This Year 1. App Developer: Remember that highly addictive game on your smartphone called Flappy Bird? The app developer, Dong Nguyen, earned as much as $50,000 a day. If your heart lies closer to technology, it’s best that you target younger people as they are your future customers. It’s time to put your thinking cap on and pursue this idea by learning how to code and develop mobile apps. There are courses available online for both advanced coders and beginners. 2. Car Wash Serviceperson: Not everyone can afford to clean their cars due to a busy schedule. With this in mind, you can offer a car wash service to your friendly neighbors for a fee. Also consider setting up a stand in busy corporate parking lots, after receiving permission from the lot owners. You’ll be earning extra cash while building a good relationship with your neighbors and networking with professionals. 3. Caterer: We love parties and having guests around. But sometimes we decide against the idea of inviting people over because preparing food for 20 people is truly exhausting. You can easily become the solution to this common party dilemma by offering your catering services. This way, hosts can focus on socializing with their guests while you are busy cooking your specialty dish. If you love cooking as much as you love earning money, consider this mobile business idea a piece of cake. 4. Courier: In larger and busier cities, businesses do not always have the luxury to go to the post office and get something delivered, especially if it’s time-sensitive. Get on your bike, start pedaling, and offer your courier services. Many rely on couriers nowadays to get important documents delivered, signed, and returned. Make sure you deliver on time to keep your clients loyal. 5. Dog Walker: Pets, like humans, need a proper diet and exercise to stay fit and healthy. Not all pet owners have the time to take their 22

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dogs for a walk each day, hence the birth of dog walkers. As a dog walker, you’ll pick up dogs — big or small — from their homes and basically just walk around with them throughout the park. If you’re a dog lover, you’ll find this gig super easy because you’re getting paid for something you’d normally do for free. 6. English Tutor: There is a high demand for English tutors today especially from Asian countries like Japan and South Korea where English doesn’t occupy a huge part of their educational curriculum. Sessions are normally done through Skype video calls. Some students have zero knowledge of the language, so in cases like this, you may need a guide or a lesson plan. For some students who are college students or are already working professionals, you can improve their communication skills by having informal conversations with them. 7. Food Truck Owner: Millennials enjoy eating out and taking photos of their food so they can update their Instagram and other social media accounts. They always want to be in. But, they do not always have the money for fancy restaurants. Food trucks are starting to get more popular because they require less capital and investment than a regular restaurant. Your mobile food truck must be designed in a way that grabs the attention of your target customers — the millennials — and your menu should also offer a wide array of selections to cater to everyone’s cravings. 8. Freelance Translator: Are you fluent in other languages such as Spanish, French, or Italian? Have your Nihongo improved greatly from watching too many anime? Then, it’s about time to put your foreign tongue to work by accepting translation requests. There is a high demand for translators in the market today as seen on freelancing sites like Upwork. com and Freelancers.com. You can do this as a side gig if you’re working a 9-to-5 job and accept job requests only during the weekend. 9. Friend-For-Hire: If you don’t mind

hanging out with a total stranger for cash, this one’s perfect for you. Websites like Renta-Friend set you up with someone who could use a friend for occasions like a dinner party, family function, or just a lazy walk in the park. Don’t worry because it’s completely platonic. Plus, hanging out with a “friend” earns you about $10 per hour, which is not bad because hanging out with your real friends will cost you exactly $0. 10. House Sitter: Apparently, it’s a thing now. When people travel, they’d prefer to have a live human being take care and attend to their lovely homes. Imagine having a house to yourself for a week or two. While earning money house sitting, you can also accept online writing jobs that don’t require you to travel or conduct outside research. Talk about making money while making money. 11. Locksmith: Have you ever wondered how a detective could unlock a door with ease using a hair pin? This could be an exaggeration, but there really is an art to it. If you’ve ever locked yourself out of your house, a locksmith is there to the rescue. As a locksmith, you will be helping other people when they are locked out or when they need to install or replace door locks, safes, and windows. 12. Mobile Laundromat Owner: In this type of mobile business idea, the only capital you’ll need is to get a fully automatic washing machine. If you currently own one, then that’s better. Your primary customers are those who are too busy to spend an hour or two at a laundromat to have their clothes washed. You’ll also need a dedicated phone line to accommodate requests. Pick up the clothes, put them in a washer while you read a book, and dry them off and fold. The only thing left to do is to deliver the clothes on time and with a smile on your face. 13. Party Bus Driver: This is literally a mobile business idea. Think Uber. But instead Continued on page 24

www.homebusinessmag.com

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AAJudgment JudgmentRecovery Recovery Business Business isis Hot and andininDemand. Demand.Here’s Here’show how to to start start your your own... own...

ave aveyou youever everwatched watchedJudge JudgeJudy Judy or or any any of of those those mid-afternoon mid-afternoon court courtTV TVshows showswhere wherepeople people sue sue each each other other for for unpaid unpaid rent rent or services? services?InInmany manycases, cases,Judge JudgeJudy Judyslams slamsdown down her her gavel gavel and and barks barks orders ordersatatthe thedefendant defendanttotopay payup, up, but but here's here's aa little little known known fact: fact: the the court courtdoes doesnot notenforce enforcethat thatjudgment. judgment.And And that that goes goes for for non-televised non-televised court courtcases casestoo. too. That's That'sright, right,just justbecause because aa judge judge orders orders someone someone to to pay pay aa debt debt doesn't doesn'tmean meanthat thatperson personisisgoing goingtoto do do it.it. Imagine Imagine ifif someone someone owed owed you youa afew fewthousand thousanddollars dollarsand anddecided decided not not to to pay pay you, you, regardless regardless of what whata acourt courtofoflaw lawordered. ordered.Would Wouldyou youknow knowwhat what to to do? do? Most Most people people don't, don't,sosothey theywait waitininfrustration frustrationfor forthe thedebt debtto tobe bepaid. paid. Christina ChristinaSmiley, Smiley,founder founder ofof Sierra Sierra Judgment Judgment Recovery Recovery and and selfselfproclaimed proclaimedopportunity opportunity junkie, junkie, learned learned how how to to profit profit from from this this little little known knownmarket marketofofunpaid unpaiddebt debtby byhelping helpingjudgment judgment holders holders collect. collect. She She explained explainedthere therewas wasvirtually virtuallyno no one one who who was was providing providing this this service. service. And And that that once once people people had had been been awarded awarded these these judgments... judgments... 80 80 percent percentofofthem themwere werenever neverpaid.” paid.” This Thisdiscovery discoverycouldn’t couldn’thave havecome come atata abetter bettertime; time; Christina Christina and and her her husband husbandTerry Terrywere werepart partowners ownersofofaa carpet carpet store store and and had had amassed amassed aa large largeamount amountofofdebt. debt. They Theyhad hadthree threesmall smallchildren childrenand and thought thoughtthat thatbybyowning owningaastore storethey'd they'd have havemore moremoney moneyand andtime timefor fortheir their family. family.Initially Initiallyit itwas wasan anexciting excitingtime time forfor them, them, but but that that dream dream quickly quickly turned turnedinto intoa anightmare nightmareofofdebt debt and and endless endlesshours hoursatatwork, work,as as Christina Christina remembers, remembers, "We "We accumulated accumulated monstrous monstrousdebt. debt.We Wewere weretruly trulyonly onlyaa few few paychecks paychecks away away from from being being homeless." homeless." And Andthen thenshe shelearned learned about about the the big bigmoney moneyininsmall smallclaims. claims.Christina Christina focused focusedononlearning learninghow how toto recover recover judgments judgmentsfor forpeople. people. She She says, says, "It "It was wastrial trialand anderror errorfor forsix sixmonths monthstotoaa year. year.I buried I buriedmy mynose noseinincivil civilcodes.” codes.” Christina Christinacontacted contacted aa number number ofof small smallbusinesses businessesininher herarea areatotosee seeifif they theycould coulduse useher herservices, services,and andas asitit turned turnedout, out,there therewas wasplenty plentyofofwork work forfor her. her. "These "These people people were were overjoyed overjoyedtotogive giveus usallallofoftheir theircases cases totocollect collectand andwere weremore morethan thanwilling willing toto letlet me me keep keep 50% 50% ofof what what I I collected collectedfor forthem," them,"she shesays. says. InInmost mostcases, cases,they theyhad hadfiled filedaway away their theirjudgments judgmentsaafew fewyears yearsprior priorwith with nonohope hopeofofever evercollecting collectingon on them. them. Christina's Christina's business, business, Sierra Sierra Judgment JudgmentRecovery, Recovery,gets getsthat thatmoney money back. back. These These people people figured figured they'd they'd never neversee seeany anyofofthat thatmoney moneyagain, again, sosothey're they'remore morethan than happy happy toto pay pay Christina's Christina'sfee. fee. Another Anotherattractive attractive aspect aspect ofof this this

service service isis there's there's no no up-front up-front cost to her her customers. customers. Any Any filing filing fees or costs costs incurred incurred by by Christina Christina are reimbursed reimbursed to to her her out out of the judgment judgment once once it's it's collected. collected. The customers customers don't don't have have to pay anything anythingout out of of their their own own pocket. pocket. From From what what she she says, says, this is primarily primarily behind-the-scenes behind-the-scenes work, which which makes makes itit an an entirely entirely nonconfrontational confrontational business. business. She She does everything everything through through the the court court system from from seizing seizing debtor debtor bank bank accounts, accounts, garnishing garnishing wages wages and and other other income, to toplacing placingliens liens on on property. property. One One year year after after starting starting the judgment judgment recovery recovery business, business, Christina Christina and and Terry Terry closed closed the carpet carpet store. store. Finally Finally they they could could work at at home home and and have have money money left over at at the the end end of of the the month. month. They've been been running running Sierra Sierra Judgment Judgment Recovery Recovery for for over over 10 10 years years and are bringing bringing in in aa five-figure five-figure paycheck paycheck each eachmonth. month. And And the the most most important important aspect aspect isis they've they've got got more more time for their their kids. kids. “I“I can can attend attend their their events and and my my husband husband gets gets to to go go on field trips trips now now -- he's he's usually usually the the only dad on onthem.” them.” But But the the story story doesn't doesn't end end there. Christina Christina wants wants to to share share her knowledge knowledge with with others others across across the country country as as aa home-based home-based business opportunity. opportunity. She She has has put put together together aa judgment judgment recovery recoverytraining training course. course. In In addition, students students have have access access to to aa National Network, Network, which which can can be be extremely extremely helpful helpful in in cases cases where where the the debtor has has moved moved out out of of state. state. Christina also alsoincludes includes unlimited unlimited support. support. The The training training course course is is on a home-study home-study basis basis and and itit teaches

Christina Smiley Smiley

contact judgment judgment holders holders how to contact their business, business, the the steps steps to to to get their down aa debtor debtor and andsorting sorting tracking down the paperwork paperwork from from the the through the court. Christina's motivation for Christina's motivation for this business business opportunity opportunity sharing this others isn’t isn’t to to get get money moneyfrom from with others the course course (a (a one-time one-time sales of the of $185.00, $185.00, she she only only flat fee of enough to to cover cover the thecost costof of makes enough producing course course materials): materials): she she producing continue to to develop develop the the wants to continue Network of of judgment judgment National Network specialists. recovery specialists. Anyone interested interested in in aa homehomeAnyone business who who really really likes likesto to based business research could could benefit benefit from from do research training course, course, according according to to this training Christina. "This "This business business isisfilling fillingaa Christina. niche. ItIt provides provides steady, steady, true niche. predictable home-based home-based income income predictable $5,000 -- $8,000 $8,000 per per month month on on of $5,000 There is is no no lack lack of of average. There customers and and no no foreseeable foreseeable customers decrease at at any any time time in in the the decrease says Christina. Christina. future," says you’d like like information information on on If you’d your own own home-based home-based starting your judgment recovery recovery business, business, judgment for their their free free guide guide at at register for www.recoverycourse.com. You You www.recoverycourse.com. also contact Sierra Sierra may also contact Judgment Recovery Recovery directly directly by by Judgment them at at (912) (912) 882-8190 882-8190 calling them email Customer Customer Support Support at at or email Support@recoverycourse.com. Support@recoverycourse.com.

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20+ Mobile & Home Business Ideas to Launch This Year Continued from page 22

of driving a college student to school in a sedan, you’ll be driving a party bus with more than 20 passengers all hyped to get crazy on the dance floor from dusk till dawn. Though it doesn’t always have to be a party, you could also be dropping off guests at a wedding or a birthday reception or kids who will be attending summer camp. Be sure to prepare appropriate music playlists for added customer satisfaction. 14. Personal Shopper: Shopaholics of the world, unite! You can offer your love for hanging out at the mall and your eye for good design to busy professionals by becoming their personal shopper. As a personal shopper, you’re tasked to purchase items on a list (clothes, prescriptions, food, etc.) and deliver them right to their doorstep. 15. Private Investigator: Do you have a curiosity about human behaviors, a knack for researching, and can blend into any environment like a chameleon? Attorneys may hire you to track down important information for a court hearing, or insurance agencies will sign you on to investigate a claim made by a shady individual. As a personal request, family members or couples may hire your services to discover the truth behind troubled relationships. You must be open to working odd hours, whether early in the morning to track a commute, or late at night to see where an individual is sneaking off to. 16. Recruitment Specialist: Remote recruitment specialists, just like any other normal recruiters, should ideally have a background in human resources. If you have this, then you can offer your services to screen, qualify, and interview applicants to see if they’re perfect for the vacant position. Keep in mind that some companies look for specific skills and work attitudes. Be sure to only endorse those who are really fit for the job.

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17. Software Trainer: If you have an indepth knowledge on specialized applications and software like Final Cut Pro, Adobe Premier, QuickBooks, etc., you should consider training professionals and beginners alike for a fee. While manuals and books are easily sold in bookshops, they are often costly and hard to understand. Some people prefer hands-on trainings rather than reading instructions from a manual. You can set up a website and put up a calendar where potential students can book a private session —whether group or individual. 18. Survey Taker: There is no easier way to make money at home than answering online polls and surveys. Depending on the requirements of the firm that provides the survey, you can earn from $1 up to $40 per survey just by answering some questions that are related to your shopping habits or products that you use — nothing invasive or too personal. These surveys are usually used by companies in order to see what customers like and don’t like about their products. You’re usually paid in cash sent through PayPal or via a mailed check, but some companies pay in points which you can use to redeem items or products on their website. 19. T-Shirt Printer: Your witty one-liners and clever punchlines can be a source of a steady income, too! Got something creative or funny to say? Put it on a t-shirt! A t-shirt printing service is a good home business if your place is near a school. You can either accept orders in bulk or create your own designs. Silkscreen them on t-shirts and sell them during a big school event. Putting up a website that lets your customers upload their own designs is also a great idea. 20. Tour Guide: Do you live in a city that’s often visited by tourists all year round? Do you know the twists and turns and the secrets of your city like the back of your hand? Becoming

a tour guide allows you to introduce your city to visitors, highlight its uniqueness and beauty, and give tourists a taste of the local culture. Through the help of websites that organize tours around the world, you can easily sign up and provide a unique travel experience to wanderlusts while still earning money on the side. 21. Virtual Assistant: Many small and medium enterprises around the world employ assistants that work remotely. As a virtual assistant who works from home, you will be helping a company or an individual by providing administrative and clerical support or managing their calendar and setting up appointments. The beauty of being a virtual assistant is you get to earn money without having to leave your house — probably still in your pajamas and no one will be the wiser. 22. Website Tester: Everyone wants to surf the net while still earning money. As a website tester, you will be paid for your opinions about a website’s ease of use, access, and overall user-friendliness. Website-testing companies value what you have to say because they only want to present a high-quality and error-free website to the public. Don’t fret if you’ve never done this before because instructions will be provided to you before the testing begins. Unlike a regular test, you don’t have to worry about getting everything correct since there is no right or wrong answer. This fall, consider starting up one of these mobile gigs or home-based businesses. Take time to develop the necessary skills to enable the success of your dream career. Make sure to choose a business that you will look forward to leaving the comfort of your bed every day. For additional information on starting a home-based business, visit https://homebusinessmag.com/ and http://www.homebusinessexpo.com/. Writer: Kristoffer Canimo, https://kristoffercanimo.com/

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SUCCESS STORIES

Inside Look at Tinseltown Top Los Angeles Lifestyle Writer Bridges the Gap Between Underground & Mainstream By Shannah Carol

he Los Angeles entertainment industry is always buzzing with celebrity soirees and red carpet experiential marketing events. For those interested in what the “high life” is all about, there is one lifestyle writer who is truly giving others an inside look at the scene: Meagan Sargent, Founder & Editor-in-Chief of IdentifyLA.com. A top hub for entertainment, lifestyle, travel, and fashion, IdentifyLA gives all readers something to resonate with and connects what is mainstream yet “intimidating” to underground. According to Sargent, IdentifyLA stemmed from what she thought was missing when she initially came to California from Texas. “I quickly realized that I was genuinely connecting with individuals who had interesting stories.” Sargent says. “It was a seamless fit, so I thought I should create a site that could serve as a hub to give readers an ‘all-access’, up close and personal pass to influencers and celebrities that they may be interested in. My main

readers are women between the ages of 24-35.” To engage with other demographics, Sargent also makes sure to always change content. Promotion, thus far, has been via organic word-of-mouth and connecting with individuals she meets. “Today, we live in such a social media crazed society and for me, it’s very important to gain followers organically,” Sargent says, “It’s a constant reminder that we may just be doing something right.” Sargent also admits that there are some challenges she had to face and overcome with managing IdentifyLA. “Running your own publication allows you to be fully vulnerable and transparent, which was difficult for me,” Sargent says. “However, this feeling has been liberating, because I realized I make my rules, I set my goals, and I create my own path.” In three years, Sargent hopes to grow as a business owner and see IdentifyLA cover more areas that will appeal to more demographics.

Meagan Sargent, Founder & Editor-inChief of IdentifyLA.com

“In the future, I hope to keep being curious and asking questions — I never want to lose that, as it keeps life interesting,” she says. “I feel challenged every day by my readers and I feel as if it is a constant learning experience. In the future, I hope IdentifyLA expands into untouched markets and territories while continuing to serve as a voice for many.” To keep up-to-date on the latest lifestyle and entertainment news, visit www.identifyla.com.

Mailing Lists! Home-Based Business Opportunity Seekers PRIME SOURCE LEADS! From the Publisher of Home Business Magazine® Sent Promptly to You by Labels, Disk or Email For Prices, Information and to Order Online Visit: www.homebusinessmag.com (click “Mailing Lists” link) Fax order: (714) 388-3883 Paypal: publisher@homebusinessmag.com

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Trading Stocks for Spirits Entrepreneur Shakes Up the Beverages Industry with Homemade Cinnamon Vodka By Emma Thezan

ounded in 2016, New York based MerryGo Spirits was created by entrepreneur Marc Goldberg. The company’s first release is HEEET Hot Cinnamon vodka, which is a nuanced and evocative spirit, carefully blended from all-natural ingredients. MerryGo is Goldberg’s first business venture. He had been trading stocks for 18 years when he went into the spirits business. Until then, playing around with food and spirits was a hobby. One day he was in the mood for cinnamon and decided to make a vodka that tasted like Hot Tamales candy. In his own kitchen, he experimented to create a vodka that came out amazing. He did not think it was realistic to turn his invention into a business until his sister informed him he could work with a third party manufacturer. At this point, he knew he could transform his business idea into a reality. Goldberg named his company MerryGo after the sailor Amerigo Vespucci. Amerigo Vespucci was the first person to understand the lands discovered by Christopher Columbus

were not part of Asia. He understood that we had to keep on looking, exploring, and discovering. It’s in that state of mind Goldberg created MerryGo and HEEET. “The company is all about doing things differently, tapping into concepts nobody has thought of,” explains Goldberg. He hopes to bring new categories of spirits to the industry that he finds stagnant. Goldberg identified a need in the spirit industry; one could either choose between a fun “party” yet artificially flavored spirit or choose the more serious businessman/dad spirits only meant to be savored. With HEEET, Goldberg combines the two and creates the possibility to enjoy an entertaining vodka made with premium ingredients. The goal behind HEEET is to show that it is possible to create a high quality yet fun flavored vodka. Creating a business was tough; Goldberg had to identify the knowhow of the industry to build his business and understood he could not do everything on his own. However, the first person he worked with to design his label

Marc Goldberg, Founder of MerryGo Spirits

did not deliver the work Goldberg was expecting. He made the decision to start over with new people. He learned that “things don’t always turn out as you expect them to the first time around, but persistence and hard work drastically increase your chances of success.” Visit https://www.merrygospirits.com/.

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Fall 2017 | Home Business

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BUSINESSES & OPPORTUNITIES

Monetize Online Shopping 20 Tips on How to Make Serious Money on Amazon By Kavita G. Sahai

hat started as an online bookstore has turned into one of the largest companies in the world covering businesses that range from transoceanic shipping to video streaming. It also empowers entrepreneurs to make a great deal of money by providing a powerful online shopping platform. There are many different ways to make money with Amazon. The most popular programs for deriving income through Amazon include selling on Amazon, Fulfillment By Amazon (FBA), the Amazon Associates program and Kindle Direct Publishing.

Selling on Amazon Selling on Amazon is simply that; listing a product for sale on the Amazon website and fulfilling orders that are placed by customers. It costs money to use Amazon to sell your products, but the cost is dependent on how much you sell.

Top Tips for How to Succeed: ■

Target physical products that match your niche and website keywords

■

Link to products within your content such as a landing page or blogs

Target physical products that match your Of course, there are fees when using Fulfillment By Amazon. These can niche and website keywords. include a flat fee for order fulfillment based on the product’s dimension and Associate. Amazon itself provides some simple weight and a storage fee determined by the tools to help you add text and/or image links space and time taken up by the product in the and banner ads to your website. Amazon also fulfillment center warehouse. There are other provides what it calls Native Shopping Ads optional fee-based services provided by Ama- which are stylized in a format similar to Amazon such as the addition of bubble wrap or oth- zon’s own website lending the referral website er packaging materials to the product, product an air of trust and familiarity for frequent Amdisposal or return, labeling services and so on. azon users. At the same time, there are plenty Fulfillment By Amazon can be a good option of free and paid-for proprietary tools available for sellers with large volumes and little storage on the Internet that can make posting referral space or someone who wants to remain rela- links an easier process. tively hands-off when it comes to shipping and handling.

“Amazon Associates is an

Top Tips for How to Succeed: ■

■

Display product images and make them clickable

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Link to Amazon.com multiple times on your website

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Create product bundles to increase profits

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Review products on your website that have historically high conversion rates

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Be the lowest price including shipping for popular products

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Find unique products not being sold on Amazon and be the first to list

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Answer customer emails and communication promptly

Fulfillment By Amazon The lure of the Fulfillment By Amazon program is that Amazon takes care of the shipping and handling. The benefit of this kind of arrangement becomes obvious when a seller has orders that surpass what a single person can process by themselves. Did you sell 10 items? That might not be a problem for a single person to package and ship. But what if you’ve sold 10,000 items? Do you have room to store the inventory? Can you process and ship 10,000 orders in a day? Probably not. This is where Fulfillment By Amazon shows its true value. Joining the program is as easy as creating a Selling On Amazon account and adding the 28

Fulfillment By Amazon function. From that point, you can list the products you want to sell and ship the products directly to an Amazon fulfillment center. From there Amazon will receive the orders, pick, pack and ship them while crediting your account for the sale. As an added bonus, Amazon provides customer support 24 hours a day, 7 days a week.

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Amazon Associates Amazon Associates is an affiliate marketing program where you can make a commission by placing advertisements on websites linking to products that are sold by Amazon. When someone clicks on one of your advertising links, they are transferred to the product listing on the Amazon website. If the product is purchased a referral fee is paid to the person whose ad was clicked on. There is no cost to sign up as an Amazon

afﬁliate marketing program where you can make a commission by placing advertisements on websites linking to products that are sold by Amazon.” As an Amazon Associate, you will have access to daily reports allowing insight into what kind of ads are most effective, what kind of products customers have bought using your links and what types of other products they have bought. Amazon also keeps an ongoing list of its bestsellers, which can influence the type of ad links you should display. Once again, beyond these free tools provided by Amazon, there are plenty of free and paid-for apps available on the Internet that can streamline your report analysis.

Top Tips for How to Succeed ■

Learn basic HTML to be able to insert images and create links on your website Continued on page 30

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BUSINESSES & OPPORTUNITIES

Monetize Online Shopping Continued from page 28 ■

Build links to Amazon that include your affiliate ID

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Promote your site through online communities and business networking sites

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Create blog categories to help users quickly find products they are searching for

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Publishing with Amazon Kindle Direct Publishing Are you a writer, blogger, novelist, or poet? Have you ever dreamt of publishing a book but have never been able to find a publisher willing to take on your work? In the era of Amazon, no longer is it a substantial financial risk to self-publish a book. Amazon makes it easy to publish electronic books and even provides the ability to publish paperback books with their print-on-demand service. Without the costs associated with printing, storing and shipping an entire run of paperbacks, Amazon’s printon-demand service has created a financially risk-free environment for self-publishing physical books. There is no upfront cost to sign up with

Find unique products not being sold on Amazon and be the ﬁrst to list. Kindle Direct Publishing. Simply create an account, upload your book, give it a description, choose which categories it belongs under, pick a price and it can end up in Kindle stores around the world in a couple of days. You continue to own the rights to your book and you’ll receive 70% of the sales. Of course, marketing the book will be up to you, but Amazon allows you to publish your work, experiment with different variations and test the market without

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Top Tips for How to Succeed: ■

Write interesting, captivating book descriptions

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Research top-selling books for new content ideas

■

Generate reviews to build credibility and buyer confidence

■

Post an interesting biography on your author page

■

Have your book cover professionally designed

There’s no doubt that Amazon has created a new retail environment affecting both consumers and retailers worldwide, but it has also created a whole new way of making money for marketers, writers, entrepreneurs and people who can learn how the various Amazon programs work. Whether you pack and ship goods sold on the Amazon site, utilize Amazon’s services to do the packing and shipping for you, provide links and gateways to products already for sale on the Amazon site or publish and market your own creations via Amazon’s self-publishing services, there is serious money to be made by aligning yourself with the Amazon brand. At havebigplans.com we are fortunate to have coaches that specialize in selling on Amazon! Kavita Sahai is the CEO and Founder of Have BIGplans, LLC, which virtually, conveniently and affordably connects entrepreneurs with certified business coaches. As the first-ever text business coaching platform, Have BIGplans has revolutionized the business coaching industry by providing unparalleled dialog between certified business coaches and small business owners in the digital age. Visit https://www.havebigplans.com/.

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How to Start an eCommerce Business Here is a checklist that you should follow if you are in line to become yet another successful ecommerce entrepreneur: Kickstart with a Brand Name Your ecommerce business is going to be your own unique brand. The first thing (after you decide what to sell) is to come up with a brand name. Make it stand out so it quickly ingrains in the memories of your target customers. Check for its availability and if it’s available, register it. Register Your Business There are several options available when it comes to registering your business structure: • LLC •

Corporation

•

Sole proprietorship

•

Partnership

If you do not choose a corporation or a LLC you will automatically be considered as a sole proprietorship, however in this case your personal assets would be at risk. In the event of your company getting sued, the

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court will seize your assets. Both the corporation and LLC separate your business from personal assets and also provide other tax benefits. Apply for a Business License Once you register your business structure you will receive an employee identification number that will help you to open a bank account that will further provide you an employer identification number (EIN). You now need to apply for a business license and permit. Ecommerce businesses, although being online, don’t exclude you from legal formalities. Check with your city, county, and state to see what sorts of sales tax licenses or home business licenses you need, and get those approved before you start operating. Now It’s Time to Find Vendors Until you are your own supplier, your ecommerce business will greatly depend on product suppliers and vendors. Finding the best vendors for your supply will allow you to engage customers in less time and for longer. Good product quality always creates

customer loyalty and makes it easier to upsell products, and gain word-of-mouth publicity. Start Marketing Your first tool of online marketing would be your ecommerce website design. A design that features all your products and is backed by informative content not only ranks higher on search engines but also allows customers to make quick buying decisions. Engage in social media and other paid forms of online advertising such as paid content marketing. Make sure to remain compliant Once your business starts running, things are going to skyrocket. In the hustle don’t forget to file annual reports or renew your permits. Set reminders somewhere that you’ll see multiple times a day. For an expanded overview on ecommerce business legalities, consult a professional law firm in your area. Irfan Ahmed is Brand Strategist & Digital Marketing Expert for UiResponsive (https://uiresponsive.com/)

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SUCCESS STORIES

Gift Bag and Giving Lounge King Ultimate Marketing Specialist Launches Luxury Lifestyle and Special Events Company in Beverly Hills By Emily Scoular

avin Keilly is the CEO and Founder of GBK Productions, a luxury lifestyle gifting and special events company. GBK is dedicated to providing high quality and tailor-made services to its individual clients. They are known for integrating the entertainment, luxury consumer products, and non-profit industries to create unique and memorable high-profile experiences that maximize its clients’ brand-building efforts.

Formed in 2000, GBK consists of five divisions: GBK Celebrity Gifting, GBK Event Production, GBK Weddings, GBK Charitable Consulting and GBK Marketing/Public Relations. Though separate, each entity is interconnected allowing clients/brands a full range of marketing services and benefits. Keilly started the business in his one-bedroom apartment making phone calls on his own. That lasted about three years, before moving into an office space and having the entire 3rd floor of a building for a little over 10 years. Now, Keilly and his team have a beautiful home in Beverly Hills, including a guest house for his staff, with a showroom for products and necessary meetings. The best part about this casual enviornement is that his staff can bring their dogs to work and even have lunch in the sun, hanging in the backyard. With a proven track record for attracting a celebrity clientele such as Viola Davis, Eva Longoria, Jamie Foxx, Helen Mirren, Forrest Whitaker, Leonardo DiCaprio, Fergie, Rihanna and Neal Patrick Harris (just to name a few), GBK created high-profile Lounges prior to the Oscars, Emmys, Golden Globes, backstage

at the BET Awards, CNN Hero Awards, 10th Annual GLAAD Awards, Sundance & Cannes Film Festival and so many more. Known as one of the originators of the gifting concept, Keilly is the ultimate marketing specialist. LA Times referred to him as the “Gift Bag King”. His superlative skills and attention to detail are vital to ensure the success of an event. For the Charity Galas GBK produces, with the added value of savvy vendor negotiating with caterers, sound engineers, venue reps, rental companies and printers, he has created a company that always puts his clients first.

Gavin Keilly with Usher at Sugar Ray Charity Event In the last year alone, Keilly and his team have thrown extravagant gift lounges for all the major award shows, and then some. Each suite is impeccably put together with a wide variety of Brands, ranging from St. Regis Properties, Diamonds, Watches, Burke Williams Spa, Prada Sunglasses, Pilot Pen and so many other fun exciting items. Hollywood’s top celebrities and press all say that GBK is their must stop during Award season and it’s not just because the gifts that can total upwards of $50,000. It’s mostly due to Keilly, his amazing staff, his attention to detail and the fun atmosphere he creates. Utilizing his combined marketing, sales and non-profit experience, Keilly has helped consult many non-profits take their organization to the next level by integrating celebrities and increasing awareness through a wide variety of press outlets. The most was AMFDA, where he worked with them to raise over 15 million two years in a row.

Melissa McCarthy with GBK Gift Bag 32

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Keilly started the company with the idea in mind that he wanted to make a difference

Gavin Keilly and Magic Johnson at Charity Event in the lives of others, which is why there is such a large charity aspect to GBK and their events. Many have referred to GBK as “Giving Back Kindly”. As at every luxury gift lounge, non-profit organizations, at no cost, have the opportunity to be a part of his event to offer celebrities the chance to get involved with that particular organization. They also receive a donation from GBK, and are gifted the overthe-top gifting bags each celebrity receives that they can auction off to raise additional funds. GBK has donated, raised, or gifted over 10 million dollars for 50+ causes since Keilly started the company over 15 years ago. Keilly knew it was necessary to get celebrities involved in the charity events he was producing to get the major donors involved. They are invited to many events, so GBK as a team needed to think outside the box in all aspects of each event, including unique performances and “meet and greets” with celebrities, so the donors look forward to the next event. The charities that are included in the various gift lounges are changed on a rotating basis. Keilly admits that their own non-profit clients are their first consideration at their events. That said, a wide variety of non-clients are featured throughout the year, in the hopes to help them to garner exposure and more funding. Now, GBK is a globally-known brand recognized for the caliber of sponsors and celebrities they have at each gifting suite, and their mission to always give back. Keilly loves watching corporations garner spokespeople through their engagement in GBK’s lounges as well as increasing the amount of press that they receive. He also appreciates helping the various causes raise millions of dollars through their efforts and strategies in creating a magical event. For more information on Gavin Keilly and GBK Productions, visit http://www.gbkproductions.com. www.homebusinessmag.com

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MARKETING & SALES

Online Advertising Tips 5 Marketing Hacks That Will Grow Your Business By Amanda Goldman-Petri

arketing is an area most entrepreneurs put off as much as possible. As I’ve taken on this adventure with my marketing program through Market Like A Nerd, there have been several marketing “hacks” I’ve come across that have proven hugely beneficial.

Tailor the following quintet to your business and watch the benefits expound!

Plug-and-Play Templates Time is money, so use it wisely. A great way to do this is to invest in plug-and-play templates for your basic correspondence. Marketing coaches, like Ryan Diess with Digital Marketer for example, create readymade templates for things such as email auto-responders for all different occasions, your basic upsell sequence, etc. You can purchase these templates, take a couple of minutes to tailor them to your business and you’ve saved yourself the unnecessary time to create what amounts to a standard document.

Swipe Files Do you ever come across a marketing idea and think, “How brilliant! I could do something like that.” When you do, save it. I call this swiping because you’re going to take the idea with you and store it for possible future use. Slightly different from the plug-and-play hack, where you’ve purchased the content and are allowed to keep it exactly as it is, in this instance you’re going to borrow the concept and adapt it to be your own. Remember, while you can expand on an idea, it’s important to remember you can’t copy someone else’s idea. That’s a good way to get sued. But use it as inspiration — the model, the layout, the structure, etc. — and add your own twist. Think of it as marketing Pinterest.

Bargain & Barter There are a multitude of ways to have your product or service seen, but there are also a multitude of things that can get in the way. Let the network work for you. Invest in Facebook boosted posts, Twitter promotions and LinkedIn ads. These cost a bit upfront, but you can catch 34

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the massive waves of traffic the sites receive and send those eyes your way. You can then capitalize on the increased views and offer them a deal that will have them coming back for more on their own — no ads needed! Another way to tap into traffic is endorsements. This is based on the everlasting technique, “I scratch your back, and you scratch mine.” Reach out to entrepreneurs serving in the same market as you. Ask if they’ll promote you to their followers and then in the future you can do the same for them. Sometimes this might require ponying up a fee, but if you have something to offer in return down the line, it will be advantageous to both parties without costing you too much or, hopefully, anything at all. More importantly, this puts your product in front of eyes that you already know are looking for what you’re offering, and it’s coming from someone that audience trusts. To take advantage of this, go to summits and networking events so you can make contact with these types of people.

“ Invest in Facebook boosted posts, Twitter promotions and LinkedIn ads.

”

Tap into trafﬁc through endorsements.

fact of the matter is you can’t build your own until people come your way.

Lengthening Your List There’s a misconception that once you start growing your own audience, or list, that there must be this one master list complete with their names and emails and that’s how you inform everyone of your offers. While this is a tried-and-true technique and shouldn’t be abandoned, remember not to put all of your eggs in one basket. Take those in your Facebook group — that’s a list and one you can easily reach out to via messages and posts. Set up a “Call to Action” button on your website, asking visitors to enroll in push notifications — that’s another list, full of those that want your latest offers.

Let’s combine swiping and bartering for this fourth tip. If you’re having trouble garnering traffic and having trouble garnering contacts to trade endorsements with, try directly buying into an audience.

You can also put pixels on every page of your website. When visitors view the page, the pixel analytics will let you know if they choose not to opt-in to the offer or if it’s their first trip to the page. A Facebook pixel will then allow you to target Facebook ads to those who viewed the page. This is a great way to grow your list from everyone who visits your website without everyone receiving an email.

Reach out to others in your community whose reputation you respect. Tell them about your product, or offer and ask if you can pay to have it included in their next newsletter, email blast or any other marketing tool.

Use one — or all five — of these hacks to take advantage of time, content, traffic, marketing and list building. Each are helpful in their own way and are exciting ways to start growing your business.

This keeps things clean and easy, a one-time transaction that you can come back to if needed without being obliged. This may seem like an unnecessary cost, paying for someone else’s traffic instead of building your own, but the

Amanda Goldman-Petri is the founder of Market Like A Nerd and is an internationally renowned “Work Smarter, Not Harder” Online Marketing Coach for entrepreneurs who want to maximize their profits while minimizing the amount of time and effort they put into their business. http://www.marketlikeanerd.com/

Buy Instead of Barter

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Company Has Been Building a New Mover Marketing Goldmine Since 1972 By Graham Chapman

t was 1972, and Michael Plummer, Sr. was brainstorming ways to increase traffic and customer loyalty for his little pizza shop in Newton, Iowa — 30 miles outside of Des Moines. He hit on the idea which not only kept his pizzas flying out of the oven, but also birthed what would become a multi-million-dollar new mover marketing company — Our Town America. “After struggling for years to generate as much business as he wanted, my father decided to focus solely on welcoming new neighbors to Newton with a personalized, thoughtful offer to try his pizza for free,” says Michael Plummer, Jr., who took over Our Town America in 2009 after his father’s passing. “Little did he know that decades later his creative marketing idea would become a multi-million-dollar company and a high-upside, home-based franchise opportunity.” Michael Plummer, Sr. realized there was

a new batch of movers coming to town each month who needed help adjusting to the community and were actively seeking new go-to businesses for their daily needs, including their new favorite pizza place.

Michael Plummer, Jr., CEO of Our Town America

The company began using a direct mail approach to market directly to movers, delivering gift certificates from local businesses to new movers in a comprehensive welcoming package built to introduce them to the best their new community had to offer — everything from car dealerships, to grocery stores, to hair stylists, dentists, restaurants, and more. Today, 45 years later, under the direction of Michael Plummer, Jr., Our Town America has become the fastest growing, most profitable new mover marketing company in the country. Last year, Our Town America had revenues of more than $9 Million, and the company expects to top that in 2017 by nearly 6%.

“We have transformed the old concept of the coupon, into a sleeker, distinct, colorful and tech-savvy gift certificate that inspires new movers to act,” says Plummer, Jr. “It’s a more personalized and targeted approach. That’s why we’re able to deliver up to 16% response rates for some industries, more than 3 times that of our competitors.”

SUCCESS STORIES

Capitalizing on a Taste for Pizza

Our Town America has been franchising since 2005, has placed 54 franchises in 27 states, and is ranked nationally among the top franchises year after year — a perfect fit for aspiring entrepreneurs seeking a homebased business opportunity. For more information, visit www.ourtownamerica.com and https://www.ourtownamerica.com/franchise-us/.

A Sustainable Movement Mompreneurs Launch Organic Skincare Company to Solve All Types of Skin Problems with Nontoxic Ingredients By Kelly O’Shea

uided by a shared driving passion to make a difference, Melissa Moritz and Carolynn Mowen launched Max & Madeleine, a unique social selling company dedicated to helping customers separate fact from fiction and toxic from safe. At their parties, they gather together as friends to empower through education while experiencing clean, safe products mostly crafted in the USA. They scour farmer’s markets, spend hours researching ingredients, and test recipes in their own kitchens to ensure their products are the best they can offer to customers.

They are inseparable best friends, born just three weeks apart. In addition to sharing toys and giggles, 5-year-old Max and Madeleine share a challenge. Max has chemical and food sensitivities, while Madeleine has the type of sensitive skin that most products just can’t remedy. Moritz (Max’s mom) and Mowen (Madeleine’s mom) did what any mom would do — they scoured the stores for “safe and www.homebusinessmag.com

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healthy” products to help their kids. Confronted with shelf after shelf of confusing product labels, alarming ingredients and dubious claims, the two friends grew frustrated and decided they’d had enough. At Max & Madeleine, Moritz and Mowen truly understand that what people put on their skin is as important as what they put in their bodies. That is why they are on a mission to give their customers products that are pure, non-toxic, and nutrient-rich. They also value transparency as they list all ingredients on their labels. Their products are crafted with organic ingredients when possible and the majority are made right here in the USA. From their Sugar Scrub containing antioxidant-rich sunflower oil to their popular Boo Boo stick using Calendula for repairing, they source the most natural ingredients that will heal and nourish skin safely and effectively. The mompreneurs recognize that a

Melissa Moritz and Carolynn Mowen, Co-Founders of Max & Madeleine

sustainable movement has to be shared with others. They wanted people out there spreading the word on their beneficial skincare products. This is why they created the social-selling business model of carefully selected advisors to sell their products while educating their communities. At Max & Madeleine, they are committed to creating healthy families and ultimately a healthier world. Raising a healthy family is challenging enough. They want to make it simpler and easier for parents to choose healthier products in a world of overwhelming choices and misinformation. Visit https://www.maxandmadeleine.com/. Fall 2017 | Home Business

8/30/17 6:55 PM

MARKETING & SALES

Partner Up with Social Media Stars Make a Business Known Through Influencer Marketing By David Reske

eth loved jewelry, and over several years she gradually turned her passion into a business. She expanded distribution through a loyal network of small jewelry stores who were excited about the fresh designs that followed the latest fashion trends. This strategy worked well, until sales started to slow, and she realized that she finally needed to get serious about digital marketing, where all the growth in her industry was happening. Beth had a website for years, but it didn’t generate revenue because it was just a brochure with a simple catalog that retailers could use to see the latest products. Many home businesses face the same challenges as Beth. It’s often easy to get your first customers through your existing network, but it’s more difficult to grow without advertising and a more sophisticated and integrated digital marketing campaign. With a large budget, you can easily reach your target market through Google Adwords or Social Media advertising through sites like Facebook or LinkedIn, but many home-based businesses can’t afford to fund large ad campaigns. How do you grow your business without breaking the bank? Influencer marketing can be a great way to grow your business in a cost-effective way. Here’s how to get started with your own influencer marketing campaign. 1. Identify the Social Media Influencers The first step in creating an Influencer campaign is to identify the people in authority who can influence your customers. Are they bloggers with a large following? Do they have a podcast or YouTube channel with many viewers? Are they moderators who run large social media groups? Are they authors with a strong speaking schedule? Are they consultants who clients trust to make recommendations? Are they people who sell complementary products and services? It’s important to get very specific about the kinds of people that can make a difference for your business, and think about the best way

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Develop a sophisticated and integrated digital marketing campaign.

they can help you. The best Influencers are often people that can help you repeatedly over time by making an ongoing impact. It’s also helpful if they are in a position to directly recommend your product to their audience in a way that will drive immediate sales. 2. Create the Offer Once you’ve identified the people you want to reach out to, you need to stop thinking about how they can help you, and start thinking about how you can help them. Most Influencers are not altruistic and willing to help you out of the goodness of their heart. Like you, they are businesspeople who are trying to make a living and need to generate income from their audience. With this in mind, think about how you can help them be more successful and create an offer that will help them achieve their goals.

“ You can use money to get the attention of an Inﬂuencer, by paying a commission or an afﬁliate fee if they give you a lead that turns into a sale.

”

An offer could be as simple as a product sample, if you are in the jewelry business like Beth, or it could be a piece of expert content if you are reaching out to a consultant. You can use money to get the attention of an Influencer, by paying a commission or an affiliate fee if they give you a lead that turns into a sale. By creating an offer, you will have thought through exactly why they should talk to you, and how you will be able to help them. 3. Reach Out and Connect After you have a clear understanding of the Influencers in your market and the offer, it’s time to reach out to each one, connect with them and present the offer. You should start by searching the Internet for your Influencers and looking at their profiles online. Social media sites like Facebook and LinkedIn make it

easy to find the people you need to talk to and connect with them. You may want to supplement your personal outreach by spending a few advertising dollars targeted specifically at the Influencers you are trying to reach. When your potential influencers connect with you on social media, it’s a good indication they are interested in working with you. It also means that you’ll be able to influence your potential influencers over time with ongoing content posts and marketing messages on your social media properties. 4. Start the Relationship Once you’ve identified the people that can make a difference, it’s time to reach out, present your offer and start the relationship. This could be as simple as sending free product and hoping they talk about you on their blog, or as complicated as negotiating an affiliate program or commission program for ongoing referrals. It’s important to connect individually to make sure they want to work with you and accept the offer you have. These personal conversations will also make it easier for you to refine the offer based on their feedback. Beth used this influencer strategy to build a strong network of jewelry bloggers who loved to talk about her product. Some bloggers just loved getting the free product and getting personal access to a hot designer who gave them insight into the latest trends so they could build their audience. Others joined her affiliate program and started making money through direct recommendations to Beth’s e-commerce website. As her influencer network grew, the bloggers became more successful and so did Beth. This strategy got her business growing again, and helped her build the venture she’d always wanted. David Reske is a 20-year digital marketing veteran and author of Digital Marketing in the Zone. He founded Onward Tech in 1994 and Nowspeed in 2003, and he has worked with hundreds of B2B and B2C clients in marketing strategy, search marketing (SEO and PPC), social media, email, marketing automation and website design. David is focused on delivering world-class digital marketing services to clients across the US through a team of awesome people at Nowspeed. He is originally from Cleveland, Ohio and is a graduate of Ohio State University. http://nowspeed.com/.

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HOME OFFICE

Work-at-Home Success Master These 6 Habits to Keep Your Home Office Operating at Peak Efficiency By Kayla Matthews

collaboration and project management app that will serve as a common work area for your team.

However, it requires some planning and discipline to make sure you are maximizing the advantages of this option. Here are six essential habits to keep your home office operating at peak efficiency, which will help you perform better at your job.

3. Monitor and Maintain Your Home Office Equipment Like it or not, your home office equipment plays an invaluable part in your success and efficiency. You rely on it to perform your daily functions, and after all, you’ve invested the capital required to procure it.

unning a business or telecommuting from your home office is a great way to reduce costs. It can also boost your productivity and provide you with a better work-life balance.

1. Design and Equip Your Office for Success You’ll be spending many productive hours in your home office, so it’s worth investing the time and money to create a space where you can be comfortable and do your best work. Choose a quality desk and chair set, as well as office décor that suits your personal taste and helps you stay relaxed. Additionally, purchasing or leasing the best computer hardware and software you can reasonably afford — but not more than you need — can save you stress with its reliable performance. While people have different work styles and preferences, the ideal office location should be in a dedicated area of your home, away from any excessive distractions that could reduce productivity. 2. Use Technology to Streamline Administrative Tasks Every job comes with a variety of time-consuming administrative tasks that, while essential, do not contribute much to your overall work performance. With 21st-century technology, it’s easier and more cost-effective than ever to reduce this impact on your daily workload. Consider purchasing a voice-activated assistant such as Amazon’s Alexa or Google Home, which can help with sending emails or texts while you’re getting other work done. These devices can also control the temperature, lighting and music selection in your office. Other important time-saving technology solutions might include communication apps to chat with remote co-workers, or a 38

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Avoid issues by regularly monitoring your home ofﬁce assets.

While unexpected failures and downtime are always a possibility, you should make a proactive effort to avoid these issues by regularly monitoring your home office assets.

“ Consider purchasing a voice-activated assistant such as Amazon’s Alexa or Google Home, which can help with sending emails or texts while you’re getting other work done.

”

To understand how you can protect your equipment and minimize downtime, seek the help of a reputable hardware vendor for assistance. Today, through something called active-active network architecture, businesses can better respond to high demand and reduce downtime. Most vendors today will recommend this option. They can also help you generate and understand audit reports, implement network redundancy and switches and provide a repair and maintenance contract. 4. Keep Your Workspace Free of Clutter Although everyone has their own preferred work environment, it’s difficult for most people to remain focused and calm in a messy, chaotic space. Additionally, a cluttered office can create a negative impression to any visitors — including those with whom you may be trying to build a business relationship. Resist the urge to leave papers, trash and other assorted objects around your desk.

Keep papers organized in folders for ready access, and stash the folders in drawers or file cabinets. Make sure to thoroughly clean your workspace regularly. 5. Be Prepared to Go Mobile You may need to leave your office and work offsite, whether due to scheduled meetings or sudden emergencies. In either event, you should always be prepared to work at a contingency location to minimize loss of valuable work time and business opportunities. Invest in tools that can help you work on the go, such as a laptop or tablet, mobile apps to use on your smartphone or tablet, chargers and accessories like a wireless keyboard and mouse. A remote desktop access application can also help with mobility and team collaboration. 6. Always Back Up Your Work Just as you should always be prepared to leave your office unexpectedly, you should also be prepared for unexpected outages and computer crashes. Use a cloud-based storage service to back up all of your files, in case of a drive failure. You can also access this storage even when you’re away from the office. Google Drive and Dropbox are two of the most popular storage services. Working from home continues to grow in popularity, as more and more business owners are beginning to appreciate the cost-benefits and flexibility it can provide. However, to maximize these benefits and minimize the potential risks, practice these good habits. A bit of extra self-discipline may be required, but it can be well worth the effort when you realize the rewards of working efficiently from your home office. Kayla Matthews writes from her home office every day. Her work has been published on The Week, VICE, The Next Web, Fast Company and Business Insider. To read more posts about productivity by Kayla, check out her blog, Productivity Theory (http://productivitytheory.com/category/work-productivity/).

www.homebusinessmag.com

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9/1/17 10:14 AM

HOME OFFICE

Protect Your Business from Risks 9 Money-Saving Tips for Buying Small Business Insurance By Netquote

tarting a business is one of the biggest decisions you’ll make in your career — and often the most rewarding. But no matter how due diligent you are in the planning stages of your business, you will assume an element of risk as a business owner that is unavoidable. Fortunately, business insurance can help mitigate risk once your business gets off the ground, giving you the peace of mind to focus on what’s important: managing and growing your business. Finding the right business insurance policy can be a highly frustrating experience for most entrepreneurs. That’s why we’ve gathered the best advice from experts in the industry to save you time, money, and let’s face it, some sanity. Here’s a list of 10 tips experts recommend following in your quest for the right policy. 1. Get the Right Amount of Coverage No two businesses are exactly alike, even if they are in the same industry. A pet-care business focusing on dogs will face a different set of risks than a bird business. Experts recommend starting with the basics. General liability insurance covers your business for any third-party damages incurred such as property damage, injuries, or incidents that occur on your premises, legal fees, and reputational damage due to libel, slander, or copyright infringement. But be careful not to waste money insuring your business against a risk you don’t face. For example, if you don’t hire employees, there’s

An independent agent can help you compare rates and coverage. 40

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no reason to pay for employment practices liability coverage.

Insurance can help mitigate risks that threaten your venture.

2. Bundle Your Coverage A more affordable route is to purchase a business owner’s policy (BOP) which combines protection from major property and liability risks into one package. BOPs save small business owners time and energy in trying to figure out exactly what coverage to purchase. Keep in mind that BOPs don’t include everything — such as business interruption or professional liability, to name a few — which is why experts recommend making a list of all areas potentially at risk.

“ BOPs save small business owners time and energy in trying to ﬁgure out exactly what coverage to purchase.

”

3. Take Advantage of Discounts Some insurance carriers will offer discounts or price breaks on add-on policies. For example, if you purchase your commercial auto and workers compensation coverages from the same carrier as your business insurance, you may be eligible for a multiple lines of coverage discount. 4. Seek Out Stability in a Carrier There are over five thousand insurance companies in the United States according to the Insurance Information Institute. Unfortunately, not all of them are solvent. Experts recommend looking at a carrier’s credit worthiness via A.M. Best, Standard & Poor’s, Fitch or Moody’s. Another trick is to review the company’s financial statements. You want to save money but not at the expense of an unpaid claim should you need to file. 5. Work with a Reputable Agent An independent agent can help you compare rates and coverage more efficiently than if you try doing it yourself, freeing up time for

you to focus on business planning. Seasoned agents can draw upon industry experience to identify hidden risks unique to your business that you hadn’t even considered. 6. Understand Ways to Prevent Losses An effective loss prevention program can help you prevent losses and can be a viable way to reduce your overall business insurance cost. Whether you implement a workplace safety program or institute disaster preparations, programs like these can help reduce the risk of a claim or help you choose a different deductible amount. 7. Inquire About Claims-Free Discounts Carriers sometimes offer a claims-fee discount for policyholders who don’t file claims for a specified period of time. Experts recommend presenting a copy of your existing company’s loss experience when obtaining a quote for a new company to see if you qualify. 8. Be Flexible About Your Payment Frequency and Method Many insurance companies offer discounts to customers who pay their annual premiums as a lump sum instead of splitting it up into multiple payments throughout the year. In addition, some carriers will offset installment fees if you pay electronically or consent to automatic payments. 9. Review Your Coverage Annually As your business expands, your insurance needs will most likely change. Adopting a proactive approach can be a lifesaver for your business. Industry experts recommend making it a priority each year to re-assess what you currently have and adjust accordingly. It doesn’t hurt to shop around for new coverage or even a new carrier while you’re at it since the industry changes rapidly. Visit http://www.netquote.com. www.homebusinessmag.com

8/30/17 6:56 PM

By Daniel Brian Cobb Has advertising lost its power? What new influence has taken its place? As previous institutions of influence fall and totally new institutions rise to take their place, we face a crisis of leadership. Take for example the recent presidential election. Daring to answer how Trump won, the research in this book explores how social media created such an unlikely outcome. In this new book, Daniel Brian Cobb, CEO/Chief Strategy Officer, Daniel Brian Advertising, describes how disruptive change has historically created winners and losers for such a time as this. Citing the rise of great brands of the Industrial Age and the

Information Age, the book is a guide to the present time. Cobb identifies our times as the “Participation Age.” Giving readers examples supported by extensive research, the book provides case studies that focus on leaders of the current movement, including Facebook, Starbucks, TOMS Shoes, Uber and Red Bull. These “Black Wave Riders” show the way to take our leadership to the next level. Cobb explores the history of the world’s greatest tsunami as an analogy to this new age in digital leadership. Using this metaphor, Cobb shows how the coming digital age of business will pummel those who are not prepared. Surfing the Black Wave: Brand Leadership in a Digital Age (ISBN-10: 099801060X, ISBN-13: 978-0998010601) is available on Amazon.com.

The Leadership Secrets of Oz

thinking and look for alternative solutions to problems

By BJ Gallagher Who better to unleash the magic in your management style than the Great and Powerful Oz? In her business book, Leadership Secrets of Oz (ISBN: 9781608106844), author and workshop leader BJ Gallagher reveals strategies that span from great and powerful to flying monkeys, all ways to unleash the magic in your management. In The Leadership Secrets of Oz, the Wizard via BJ will teach you how to: ■

Build Brains: Leaders practice divergent

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■

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The unique, easy-to-use tools lay the foundation for great teamwork by inspiring and encouraging both leaders and team members alike. The Leadership Secrets of Oz is available on Amazon.com.

ever-increasing volumes of data into revenue generating actions through three disciplines: decision architecture, data science, and guided analytics.

By Andrew Roman Wells and Kathy Williams Chiang

Wells and Chiang identify that there are large gaps between understanding a business problem, knowing which data is relevant to the problem and how to leverage that data to drive significant financial performance. Using a proven methodology developed in the field through delivering meaningful solutions to Fortune 500 companies, Monetizing Your Data gives you the analytical tools, methods, and techniques to transform data you already have into insights that drive winning decisions. Beginning with an explanation of the analytical cycle, this book guides you through the process of developing value-generating strategies that can translate into big returns. The companion website, www.monetizingyourdata.com, provides templates, checklists, and examples to help you apply the methodology in your environment. Visit www.monetizingyourdata. com and www.aspirent.com, and order a copy at www.amazon.com.

So, the big question is: what should a company actually do with it? Monetizing Your Data: A Guide to Turning Data into Profit-Driving Strategies and Solutions by Andrew Roman Wells (the CEO of Aspirent, a management-consulting firm) and Kathy Williams Chiang (VP, Business Insights, at Wunderman Data Management) provides a framework and path for business managers to convert www.homebusinessmag.com

■

Monetizing Your Data: A Guide to Turning Data into Profit-Driving Strategies and Solutions

Organizations are swamped with data—collected from web traffic, point of sale systems, enterprise resource planning systems and more. Turning that data into action is key as it has a valuable competitive advantage, but only if you understand how to organize it, structure it, and uncover the actionable information hidden within it through decision architecture and guided analytics.

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Fall 2017 | Home Business

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PRODUCT REVIEWS

The Amazing Benefits of The World’s First Sit-Stand-Cycle Desk

here is no way around it: the more you sit, the poorer your physical shape. Unless you have a job that keeps you moving, most of your time you’re likely to spend sitting. That’s why FlexiSpot, which designs ergonomic office and home solutions, created the Deskcise Pro - the first sit-standcycle desk. All-in-one Exercise Workstation There are exercise bikes and there are standing desks. But in a world of multitasking, you don’t have to choose between the two. New Deskcise Pro is the all-in-one exercise workstation that allows you to switch between standing, sitting and pedaling in one minute. And no matter how much you sweat, its sturdy construction will keep you in place. Musculoskeletal Benefits Pedaling and standing are load-bearing activities, which engage muscles and promote bone density. These are helpful for blood circulation as well. Deskcise Pro has eight resistance levels so you can choose between relaxed pedaling and an intense workout.

To the contrary, sitting or standing for long periods of time can cause lower back pain, headaches, muscle strain, and so on. Ergonomic Benefits The adjustable Deskcise Pro is better than a one-size-fits-all model because it can be adjusted for all body types. To ensure that it functions properly for the majority of people while pedaling, sitting, and standing, it can be adjusted for users from 5’1” to 6’2” tall. Mood Benefits A study found that when you are standing instead of sitting while working, you have more energy, focus, and contentment. Researchers also reported participants had reduced fatigue levels. And you won’t disturb anyone around you thanks to the completely silent operation of Deskcise Pro. Creativity Benefits The Journal of Experimental Psychology published research conducted at Stanford University which reported that every participant who was exercising while writing an exam performed better.

Body Weight Benefits Pedaling burns calories. It requires energy and for weight loss, increasing your energy consumption levels will burn more calories. Just remember to start out nice and slow and gradually increase your speed, resistance, and duration. Incorporate pedaling, sitting, and standing into your normal workday while using the Deskcise Pro. Visit https://flexispot.com/all-in-one-desk-bike/.

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9/5/17 2:53 PM

Sports Supplement Queen By Emily Scoular

iz Gaspari, first-generation AfghanAmerican businesswoman, philanthropist, and social activist, is one of the most powerful women in the male-dominated sports nutritional supplement industry. She is the recipient of the Mike O’Hearn/Croton Warrior Award and Most Powerful Woman in Sports Nutrition award from Musclemag magazine, profiled in Men’s Health, Muscular Development, Muscle Fitness, Millennium, and Sports Nutrition Insider, among many other publications.

The entrepreneur has been entrenched in the nutritional supplement industry for over fifteen years and her success has made her into one of the most powerful and influential people in the sports nutrition industry. Gaspari’s portfolio includes taking the Gaspari Nutrition brand from a regional supplier and turning it into a global presence. She is responsible for helping to build Gaspari Nutrition into a monster business that has generated over 100 million dollars a year in sales.

Gaspari has single handedly developed massively successful vendor relationships domestically and abroad. Her strong business experience coupled with her ability to build solid and long-lasting client relationships helped Gaspari break international barriers and placed her product into the good graces of retailers across the globe. When Gaspari started in this industry over 15 years ago, she didn’t know how her story was going to end, but she knew she was in charge of her own destiny, and therefore, it was going to end big. “I’ve now got the greatest business team behind me and I am, once again, ready to make sports supplement history,” says Gaspari. After taking Gaspari Nutrition to extreme heights, she quickly became known as the “Sports Supplement Queen.” She sold the company, and went on to join forces with multi-Grammy winner and star of VH1’s Love and Hip Hop, Stevie J. The two launched Athletic Elite 10 and DangerZone Hardcore Series,

Liz Gaspari, Owner of Athletic Elite 10 and DangerZone Hardcore Series

and just recently, they signed a 3-year exclusivity deal for both brands in Chile with Juan Garcia, owner of Sport Kote Spa for a six figure per year deal.

SUCCESS STORIES

Afghan-American Businesswoman and Social Activist Becomes a Mogul in Male-Dominated Industry

Because Gaspari is her own boss, she’s able to work from home quite a bit. She finds that being able to run her businesses at home while also spending quality time with her two children has been beneficial to the success of her businesses. With many achievements, Liz Gaspari stays true to herself, down-toearth and helps friends with endeavors. Visit http://www.lizgaspari.com/.

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We are not alone. There’s a wonderful world around us. Full of fascinating places. Interesting people. Amazing cultures. Important challenges. But sadly, our kids are not getting the chance to learn about their world. When surveys show that half of America’s youth cannot locate India or Iraq on a map, then we have to wonder what they do know about their world. That’s why we created MyWonderfulWorld.org. It’s part of a free National Geographic-led campaign to give your kids the power of global knowledge. Go there today and help them succeed tomorrow. Start with our free parent and teacher action kits. And let your kids begin the adventure of a lifetime. It’s a wonderful world. Explore!

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A National Geographic-led campaign

Fall 2017 | Home Business

9/5/17 2:35 PM

MONEY CORNER

Ways to Be Tax Savvy Get Ahead of the Tax Season with Key Strategies to Save Later By Tom Taulli

ow may seem kind of too soon to think about taxes, right? Aren’t there more important things to do — such as get customers? I can certainly understand this. But hey, taxes often take a big chunk of your revenues. And if you make mistakes, the IRS can make the situation even worse. So what to do? Well, the good news is that there are quite a few moves you can make to get juicy tax savings. Let’s take a look: 1. Recordkeeping This is absolutely critical. One of the biggest problems for home-based business owners is proving a deduction to the IRS. If you do not have a receipt or bank statement, then you will likely get dinged with having to pay back taxes, interest and penalties. Oh, and when the IRS clues into this, the agency likes to dig even further! When it comes to recordkeeping, there are a few factors to keep in mind. First of all, when in doubt, you should keep any document regarding your business. It’s fine to use triedand-true file folders (but make sure you keep these in the same place). But of course, there are many useful cloud apps that are affordable. Some are even free. Ideally, though, it is recommended to have some type of accounting system. With such an app, you will be able to easily track your revenues and expenses, which will make it much easier to put together your tax return. You will also get a better understanding of your business. Now it’s true that an accounting system may seem kind of overwhelming. But keep in mind that there are apps focused on solopreneurs. An app that is worth considering is QuickBooks Self-Employed, which is connected to your bank account. The software will also automatically fill out your tax forms, such as the Schedule SE, Schedule C and your estimated tax payments. By the way, you can also deduct the full value of any app that helps you with your business.

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2. Meals & Entertainment Wining and dining a potential client is a time-honored activity. Yet the tax rules can get a bit tricky. The reason is that the IRS is generally skeptical that there is a true business activity. Let’s face it, might the meal or event be really just personal?

Make the moves now to save later on taxes.

This is why you need to be diligent with providing backup for your deductions. This includes the following: ■

Indicate the business purpose of the meeting. You can do this on your calendar or the receipt. But note: To get a deduction, you do not have to get a tangible business benefit from the meeting. You can have a discussion about business plans and ideas.

■

Record who was at the meeting.

■

If there is entertainment, such as a golf outing, a trip to the theater or sporting event, then there must be enough time for discussing business matters. This might require a meeting before or after the event. The exception is a conference, which is assumed to be about business. Yet make sure you keep track of the program materials.

You can deduct only 50% of the value of the meal or event (you can include tips, taxes, cover charges and parking expenses). Something else to keep in mind: If you are on an overnight trip, then you can deduct your meals and entertainment even if you do not meet with anyone. But the 50% deduction limit still applies. 3. Mileage This deduction can really add up — potentially giving you thousands in tax savings. Although, this is why the IRS generally scrutinizes this deduction. Actually, there are two approaches to deducting mileage. One is the standard mileage rate, which involves multiplying the number of miles by the IRS rate (this is currently 53.5 cents).

Next, there is a much more complicated approach — called the actual car expense method. This means you will add up the business portion of expenses for gasoline, registration, insurance, repairs, parking fees, tolls and so on. OK then, which one is better? For the most part, it is tough to gauge. This is why you might want to compare both approaches and see which one provides the biggest tax break. But regardless of all this, you still need to be good with documenting your expenses and the miles. And yes, there are plenty of apps that use GPS to track your mileage. They include MileIQ, TripLog and even QuickBooks Self-Employed.

“An app that is worth considering is QuickBooks Self-Employed, which is connected to your bank account.” Finally, as should be no surprise, the IRS has some knotty requirements on what miles count. For example, you cannot deduct the miles from your home to the location of where you will have a business meeting. The IRS thinks this is commuting. However, if you have a home office, then you will be able to get the deduction! Yet if you have a top app, then it should help navigate the IRS requirements. Tom Taulli, who operates PathwayTax.com, is licensed by the IRS to represent taxpayers across all 50 states.

www.homebusinessmag.com

8/30/17 6:57 PM

Why Small Businesses Fail What Your Accountant Is Not Telling You and Steps to Take By Fred Parrish

ince more than two-thirds of entrepreneurs start their businesses from home, it’s reasonable to assume for every home startup that is successful there are several that don’t make it. Not getting enough sales leads, lack of marketing, not enough support and fear — particularly fear of selling — have all been cited as reasons home businesses fail. Since home businesses can encompass everything from work-at-home sales jobs to tech startups, they also face a challenge that stymies growing businesses of all kinds: cash flow. If you don’t manage your resources, you will outstrip your cash faster than you can earn it and put yourself out of business. Even companies that are doing really well can get themselves into trouble and never know it until it’s too late. The most dangerous time in a company’s life cycle is not when revenue is stagnated, flattened out, or has started to decline. It’s when revenue starts to ramp up dramatically — often when the business owner has failed to plan for sustainable cash flow.

“The most dangerous time in a company’s life cycle is not when revenue is stagnated, ﬂattened out, or has started to decline.” Are you scratching your head wondering, “Wait a minute — how is too much business a bad thing?” Growing businesses are most likely to fail when they: ■

can’t scale fast enough

■

invest too much in scaling due to improper forecasting

A cash flow crunch is among the top existential threats growing businesses face. Here are six warning signs your company may be headed for trouble, along with information on particular dangers, and some steps you can take to avert them: www.homebusinessmag.com

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1. Cash discounts are being missed. Cash Missing cash discounts is a danger sign. discounts are incentives offered to buyers to this situation. Some steps you can take include encourage early payment that reduce the amount owed to the seller by either increasing scrutiny of operating expenses and a fixed amount or a percentage of the total liquidating underperforming assets or outdatbill. Missing cash discounts is a danger sign ed inventory. because returns on cash discounts far exceed 6. Deposits of payroll or other taxes most returns on any other use of cash. are being delayed beyond filing dead2. Vendors are being stretched beyond normal payment terms. If this situation is allowed to persist for too long it will irreparably damage these relationships and could impede the business from acquiring what it needs to operate. 3. Late fees are being incurred on lease payments or trade accounts. As with missing cash discounts, the effect of these penalties can far exceed the normal costs of traditional financing arrangements. 4. The age of accounts receivables is increasing and/or it is getting more difficult to collect accounts. If this one applies to your home business, you must uncover any issues that impair your ability to collect all amounts billed, and develop a plan to work through each issue. Your plan should include:

lines. You should exhaust all other options before pursuing this course. Once you start down this path it is a dangerous slippery slope, as penalties can be severe. Most of these warning signs are symptoms and not causes of cash flow problems (No. 4 is the exception) and most are the result of improperly managed operational problems. Here are some proactive steps you can take to better manage cash flow: Cash Flow Management Steps 1. Develop an understanding about when revenues can be collected and create a forecast of the future cash stream (preferably weekly). 2. Determine the timing of all operational cash disbursements.

■

Bill promptly and as often as possible.

■

Collect all payments when due.

■

Eliminate all barriers to payment.

3. Identify any other disbursements such as owner distributions, principal payments on debt and capital expenditures (equipment, etc.).

■

Provide all documentation necessary to facilitate payment at the beginning of the process.

4. Subtract the disbursements from the receipts to determine cash balances for each future period.

■

Aggressively follow up on overdue invoices.

■

DO NOT work only the old accounts. Focus on current ones as well.

5. Update the information as conditions change in the business or the market that will influence the outcomes to maintain a realistic view of the future.

■

Stay on top of the situation and pay vendors in a timely manner.

5. Your debt is increasing without a corresponding increase in collectable revenue. There are times when business owners will take on debt in the hope that it will buy enough time to repair a damaged business or to prop up an inability to gain revenue traction in a particular market. It’s essential you avoid

Start with the information you have and refine the process over time. By taking these steps you can avoid at least one of the major reasons that small businesses fail. Fred Parrish is Founder and Chief Executive Officer of The Profit Experts™, an affordable CFO service that helps small business owners improve their profitability and cash flow. He is also creator of The Profit Beacon™, a new app that provides predictive analytics to help businesses make smart and timely decisions, and author of “The Profit Mentality.” Visit: https://theprofitbeacon.com.

Fall 2017 | Home Business

8/30/17 6:57 PM

Home Business Financing in 2017 Continued from page 19

intense as these investors become more sophisticated. The deeper due diligence process leading up to investment is making it harder to survive as a startup; Bloomberg’s weekly fundraising gauge reports that startup fundraising dollars are down 20% from last year.

to use it to fund your startup business. Typically, the pension scheme will either require security in the form of a business asset to at least the value of the loan, or will use a purchase and lease-back scheme. The value of your intellectual property, including patents, trademarks and web domain names can be used to provide an injection of working capital. Interest payments on the loan are paid back into the pension scheme, bolstering your funds for retirement. Pension-led funding offers a range of benefits for business owners with sufficient pension monies to allocate to their startup. The initial process in establishing its suitability is rigorous, due to the potential risk of losing a proportion of your retirement funds should the business fail. Written by Keith Tully; Partner at Real Business Rescue. Keith has 25 years’ experience advising company directors and stakeholders on matters such as corporate insolvency, finance and restructuring. Visit http://www.realbusinessrescue.co.uk/.

Startup Mistakes with Fundraising By Mark A Gilbert It’s common for startups to assume their unique ideas will cancel out disorderly

Invest in a professional accounting interface system to manage ﬁnances.

business practices and land them investors. I’ve seen this assumption from startup founders — whether made subconsciously or actively — regularly in my 20 years at MBSATA, advising startups on how to get their books in order for raising capital.

Startups cannot attribute this drop in fundraising to the economy; the reason is simply because they are missing the business fundamentals required to pass the intensifying due diligence process. Here are the top four fundamental mistakes startups make that can — and likely will — scare away investors. Fundamental Red Flags 1. When Financials Are Reported Manually on Excel Aside from the unprofessional look of manual reporting, using Excel is not a sensible system to use for your finances. It is pretty much guaranteed that you will make an error manually inputting data and formulas.

When they reach fundraising woes, these The guaranteed problems with manual reentrepreneurs always place the blame on the porting only intensify as a startup looks to economy; my vantage point has allowed me to scale. Even further, investors know that your see otherwise. startup or home business will be inefficient in I also work as an advisor to the investor scaling if you use manual reporting; no new boards that scrutinize each startup’s financials. finance employees you hire will understand Each year, I’ve seen this scrutiny become more how your hundreds of Excel spreadsheets fit

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www.homebusinessmag.com

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together to create a coherent record of your finances. This is why you need to invest in a professional accounting interface system if you want anyone to invest in you. 2. When Founders Don’t Realize the Effect of High Salary Lines Any entrepreneur knows that investors want to see a home business with a bootstrapped mentality, but many entrepreneurs seem to forget how fundamentally bad it looks to have high chief officer salary lines. A lot of entrepreneurs are excited about their great idea and end up spending more money on their own salaries than on marketing and developing their products. Investors want to see the opposite — modest or nonexistent salary lines and higher marketing expenses to show that all mental and fiscal effort is going towards making your product a success. 3. When There Are No Reports to Demonstrate Due Diligence Investors want to see if you have a real understanding of your cash flow, revenue and variable expense projections. Investors want a bottom-up financial forecast and a detailed

cash flow analysis to back up projections. Specific reports are needed to demonstrate such due diligence. Reports like, departmentalized sales reports, enhanced expense reports and salary reports. Many startups do not have an organized financial model, let alone the financial data to demonstrate due diligence. There’s an easy fix. Startups can use accounting software programs like Sage and Xero to create financial statements, and run the due diligence reports that investors want to see. An operating expense plan based on actual numbers detailed in such reports is not only more concrete but also more realistic, two traits investors are looking for. 4. When There Is No Competitive Research Many home businesses are inward focused. They lack competitive research. Investors want to see an industry comparison. They will analyze all the competing firms on similar revenue lines and will benchmark your projections and cash flows against theirs before investing any capital in your home business. Incomplete

competitive

research

and

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If you have “ accumulated a pension from any former employments, you may be able to use it to fund your startup business.

”

disorderly books will ruin your chances with investors not just because you will look unprofessional. It’s because finance is entwined with every part of a business. All startups can avoid these mistakes by instituting professional accounting and competitive research. Mark A Gilbert is the Founder and CEO of MBS Accounting Technology & Advisory, which provides Bookkeeping, Accounting Technology Integration, and C-Level Financial Management Solutions to SMBs and Not-For-Profits. The firm hosted its Annual Accounting Event, CalcuTech, in September. Visit https://mbsata.com/.

Funding options for home-based business owners are plentiful in this technologically progressed time. Finance your business in 2017 with these experts’ informative insights. For additional information on starting and financing a home-based business, visit https://homebusinessmag.com/ and http://www.homebusinessexpo.com/.

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Interview with Jake Gyllenhaal Continued from page 21

“My work also gives

Courte Cou rte t syy off Reu R ter ers/T s/Th The he Int I erv erview iew PPeeopl op e. e

fulfilled in a particular way. Do I now turn directions in my life? There are things I wanted to accomplish — artistic goals that I feel like I have. Maybe in a few years you can ask me that question again, and I will have some better answers. Q: Is there a lesson that can be learned from Okja? JG: As much as it is a movie about a child and a creature, in a lot of ways, it is a story that we know about where you lose something you love and you are going to find it, but the ending of that film, where he shows us the brutality of what the world does, and showing it to a child, makes it so powerful. So often movies nowadays, particularly a family film, will shy away from concepts that are as dark as this. It is really important for the world, and that’s why Netflix is a wonderful home for this movie — to get this message out wherever it can, in whatever form, to whoever wants to watch it. The message is it’s a brutal world and a wonderful one as well. That’s what makes Bong such an incredible filmmaker, because he has 48

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“Moving forward, as you have the opportunity to continue to work as an actor, generally you care a little less about what people think.” – Jake Gyllenhaal

the courage to do that. That’s why you always want to work with Bong and why you love him so much as a filmmaker. So many other filmmakers would have left that last scene out.

me comfort in that way when you feel like you are expressing yourself — who you really are — and what you really want to do in your work.” – Jake Gyllenhaal

Q: Have current events made you more politicized? JG: Yeah. Bong jokes about people wanting to move to Canada. I think there is no better way than here in America to work as hard as we can to express ourselves than now. The last thing to do is to run away. You can see that in the States, particularly now. It is a galvanizing time. A time when I have been more involved in what is happening in my country and more so in my community, my specific city, and my district than ever before. You’ll see that all over America. I am inspired more so than ever.

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