Books to get you home in time for business

So you’ve decided to start a home-based business? If you’re thinking

about setting up shop in your spare room, you’re not alone.

According to the Small Business Administration, 53% of small

businesses are home-based and account for roughly 10% of total

business receipts, or about $314 billion each year.

Average receipts for individual home-based businesses were around

$40,000 annually, based on the data collected by the U.S. Census

Bureau from the last decade. The most attractive aspect of home-based

entrepreneurship is cheap overhead and start-up costs: 40% to 44% of

all home-based businesses required less than $5,000 to start. By

contrast, a quarter of non-home-based businesses needed more than

$25,000 to start.

In addition, only about 9% of home-based businesses have

employees. As a result of these factors, interest in starting

home-based businesses is extremely high.

The Newport Beach Public Libraries provides an extensive

collection of resources essential in planning your own home-based

business.

Start with a directory called the “National Trade and Professional

Associations of the United States” -- business owners in almost any

industry in the U.S. can find assistance, resources, networking

opportunities, training and publications from the professional

organizations established to serve their industry.

Paul and Sarah Edwards’ “The Best Home Businesses for the 21st

Century: The Inside Information You Need to Know to Select a

Home-Based Business That’s Right for You” is a useful guide to

home-based business opportunities. An introduction explains the

requirements for operating a variety of different businesses from

home. The book details the advantages and disadvantages of particular

types of businesses, outlines steps to get started and discusses

strategies to identify and attract customers. A handy section lists

trade associations, professional organizations, books and websites

for each type of business. Also included are specific estimates for

start-up costs and suggestions on how to price services and products.

“The Complete Small-Business Source Book: Information, Services,

and Experts Every Small and Home-Based Business Needs” by Carl

Hausman and Wilbur Cross is a useful compendium of information by the

same folks who brought you “The New York Public Library Desk

Reference.” This book is a cornucopia of useful information that will

help you successfully develop your business. The book lists

addresses, phone numbers and practical tips. In addition, it provides

information on obtaining financing, raising capital, bookkeeping,

managing employees, selling, advertising, marketing, importing,

exporting and exploiting the Internet.

Barbara Brabec’s “Homemade Money: Bringing in the Bucks! A

Business Management and Marketing Bible for Home-Business Owners,

Self-Employed Individuals and Web Entrepreneurs Working from Home

Base” is another excellent resource. In this comprehensively revised

and expanded edition, Brabec provides advice on lowering overhead

costs, managing time and stress, diversification, hiring employees

and handling growth. She also provides detailed marketing advice and

demonstrates how to look for new business opportunities both

traditionally and on the Internet, as well as how to get the most out

of a limited ad budget. Pricing, publicity and selling on the

Internet are also discussed, in addition to more basic matters like

zoning, permits and legal forms.

“It’s a Jungle Out There and a Zoo in Here: Run Your Home Business

without Letting It Overrun You” by Cheryl Demas takes a humorous look

at balancing a home-based business with a family. Demas discusses

planning a business based on personal circumstances; avoiding

fraudulent schemes; setting up a home office; and, of course,

juggling children and work demands.

So if you’re thinking of a home-based enterprise, start with a

trip to the Library and learn the basics for turning your business

into a bonanza.

* CHECK IT OUT is written by the staff of the Newport Beach Public

Library. This week’s column is by Tim Hetherton. All titles may be

reserved from home or office computers by accessing the catalog at

https://www.newportbeach

library.org. For more information on the Central Library or any of

the branch locations, please contact the Newport Beach Public Library

at (949) 717-3800, option 2.