Rating:

This book seems to work best if you already have an idea for your business. Granted , they do throw out a few ideas for things like medical billing and place an emphasis on what could be described as services geared towards either elderly folks, or dual income families who are too busy to deal with traditional family type things. If you already kind of know what you think you want to try, this book will primarily help you fine tune your thoughts, and bring them to reality.

The section on Managing Money is probably one of the best things anyone can read. Obviously, if you’re in business, the goal is to make money. By understanding the basic accounting principles presented in Part II of the book, you’ll be well on your way to managing your business money wisely.

For general knowledge, my favorite part of the book was Part V. Here you will find Top 10 lists that describe common myths and pitfalls, and even success producing ideas to help you on your journey as a home based business owner. If you have a family, you’ll want to take note on the section about what I would call, “The good way to set up your office.” Which means, keeping distractions from the spouse and kids to a minimum while you are working at home.

There is a section on marketing, but in lieu of just that section alone, I would definitely recommend “Guerilla Marketing” by Jay Conrad Levinson. It’s a very dry read, but there are a lot of interesting and unique ideas for getting word out about your business with out spending much (if any) money. And when you’re in business for yourself, the more advertising you can get for free, the better!

I really like the way the authors describe how to get in to the home based business. Meaning, the idea of working at your full-time job (which you may or may not like) while you test the waters with your own venture on the side. That’s excellent advice because if your business idea doesn’t take off, you’re not stuck without any income. Plus you can stay under your current employer’s medical plan (A HUGE money saver!)

Overall there is so much information in here, it will be hard to take it in all at once. Likewise, as I stated earlier, the most important thing to remember is make sure and check with a professional accountant and lawyer in your area before/as you get started so they can help walk you through the particulars in your area. Every city and state is different in terms of setting up a business when it comes to taxes and getting your license.

Bottom line is, if you are semi-seriously considering starting a home based business, do yourself a favor and pick up this book and read it through. You’ll get some good advice and knowledge on what it takes to be your own boss. Of course the other thing you can do is, talk to other small business owners in your area. Take them to lunch and learn as much as you can from those who are successful small business owners.