Archive for December, 2009

Starting a New Business – Tips to Avoid the Feeling of Isolation and Stay Motivated

Wednesday, December 30th, 2009

After working for years in an office with coworkers, it can be very challenging to work from home alone. There’s no one to go to lunch with, bounce ideas off of or vent frustrations.

How does a person working at home avoid feeling isolated and motivated to be as productive as possible?

A new article in the online incorporation knowledge center courtesy of Leah Grant has some great tips on how to cope with the traumatic change of working with others nearby to by yourself at home.

Tips include:

1.    Find an accountability partner
2.    Find or join a Mastermind group
3.    Join offline networking groups
4.    Join your industry’s professional organization
5.    Schedule time every week to reach out to customers and colleagues
6.    Try to work outside your home at least once a week

Working from home doesn’t have to feel like being trapped on a deserted island. Read the article for more detail on how you can ensure success in running a small business from the confines of your home.

Evaluating a Franchise in Three Steps

Friday, December 11th, 2009

Franchises are sometimes a good option for entrepreneurs considering business incorporation online. As we’ve explored before, there are things you need to consider when comparing venturing on your own or incorporating a franchise.

If you’re considering a franchise, there’s much more than just whether it can make you money or not. You have to be sure you enjoy what you’re doing and if you have the skills for that.

Which leads to step #1:

Consultation

First thing you need to do is evaluate all your options – our online incorporation blog post from September advises whether franchising is for you or not depending on your goals. Talk with people in similar industries and others in your community.

Gather as much information as you can!

Next, if you decide on a franchise, read the financial disclosure document (step #2) very carefully, word for word.

There are many things you can learn from the corporation’s FDD – is it financially viable?…what other franchisees are in your state?

Finally, get some professional advice (step #3) from an accountant and/or business attorney. Sit down and develop a business plan and consider the proposition’s profitability. Don’t make any final decisions before talking with the pros.

Read Three Steps to Evaluating a Franchise for more.