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Get Help Navigating Government Programs for Small Business

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One of the issues that many small businesses have is that they don’t know how to tap the resources available to them. This is because there are so many programs, that it can be time consuming to wade through them all. And, unlike big companies, small business and home business owners can’t afford the consultants that could help them navigate government programs.

To that end, the Department of Commerce plans to provide free consultants to small business owners. The Street reports on this development:

U.S. Department of Commerce Secretary Gary Locke says the agency plans to create “one-stop shop” business advocacy centers across the nation to help small firms get the best government help that they can. The centers will operate as central contact points for every Commerce program available to business owners.

This could be extremely helpful to home business and small business owners who want a little more access to programs. And it can even help them figure out what is actually available so that they can better take advantage of it.

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Do You Pay Estimated Taxes?

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September 15th is looming on the horizon. For most people, that date is relatively meaningless. For those of us who work from home with a home business, or who have some sort of side business, though, September 15th marks the paying of quarterly taxes.

When you work from home, chances are that you have to pay estimated taxes. Cash Money Life offers a very succinct look at who should be paying estimated taxes:

You must pay estimated tax if both of the following apply:

  1. You expect to owe at least $1,000 in taxes after subtracting your withholding and credits.
  2. You expect your withholding and credits to be less than the smaller of;
    • 90% of your current year tax liability, or
    • 100% of the tax shown on your previous year’s tax return.

In other words, the amount of estimated taxes you need to pay to avoid penalties is the smaller of 90% of what you will owe this year, or at least 100% of what you owed last year (110% for high income earners).

I have to admit that I don’t mind paying estimated taxes. It breaks things down so that I’m not faced with a massive tax bill at once. To further ease the situation, I actually figure out how much I pay each month. Then I put that money aside until it’s time to make my quarterly estimated tax payment.

You can figure your own estimated taxes, easily, by taking last year’s obligation and dividing it be four. Then you send in your payment with IRS Form 1040-ES. If you have an accountant or some other professional prepare your taxes, it’s even easier, since they can do the math stuff and issue you four pre-filled-out payment tickets to send in with your tax payment.

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Some of the Grim Realities of Working from Home

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Telecommuting has given many employees a new l...
Image via Wikipedia

For the most part, working from home is a dream come true. There are a number of perks that come with having a home business. However, it is important to realize that there are also downsides to those perks. If you think that working from home is going to be a dream all the time, you need a little dose of reality. Here are some of the grim realities of working from home:

Sometimes, you aren’t your own boss

It’s nice to have a home business and say that you’re your own boss. But sometimes you’re not. Sometimes your client or customer is your boss. As a freelance writer, I work on deadlines. And sometimes I do work to certain specifications. And occasionally (but not very often!) I have to redo some of it. There are times that I feel like I have 10 bosses instead of just me being my own boss.

Your hours might be at someone else’s mercy

While you can set most of your own hours, sometimes you don’t get to. Sometimes, I have to wake up at 3 a.m. to interview someone in China. Believe me, if that someone was available at some other time, I wouldn’t be attempting coherence at that hour. And, of course, there are times when you have to work longer than you thought to wrap something up on time. When you work from home, there’s no leaving it at the office to finish tomorrow. This happens a lot when distractions at home keep me from finishing in a timely manner.

Sick days and vacations aren’t always sick days and vacations

When you’re working from home, you can’t just call in sick. If you have something that has to be done, you still have to do it. Sometimes, I spend an hour or two while “on vacation” doing a little bit of work. When you’re your own boss, running a home business, you have to be open when others expect you to be.

Even so, I wouldn’t trade working at home for anything. For the most part, I have a great deal of flexibility and enjoy what I do. But I have to admit that it isn’t always chocolate and roses.

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FacesForce: Put a Face on Your Home Business

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One of the more interesting Web sites that has been brought to my attention lately is FacesForce. This Web site offers an interesting look at “enhanced visual communication.” You can easily set up a multimedia presentation using FacesForce that is embeddable and easily shared. This means you can share your home business products and services quickly and easily with potential clients and partners alike.

I like the idea of creating a single canvas and being able to change it to reflect your thoughts. It also looks like a great presentation tool. The site itself looks to be in its initial stages, and there are some typos, but if you look beyond that, it really can help you create professional looking multimedia messages. Currently, FacesForce is free. The folks behind it hope to create an upgraded version that includes different pricing options.

Like MyCubi, this appears to be one of the low-cost products and services that can help you put a face on your home business and reach out to others.

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Motivating Yourself When Working From Home

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Slaving from Home
Image by Tim Patterson via Flickr

Sometimes, one of the hardest things to do when working from home is to stay motivated. There are days that I just don’t want to do anything. And when you are your own boss, it can be easy to take a “day off.” (Of course, that can often come back to bite you later when you have to catch up on everything you have procrastinated with.)

The good news is that there are some things you can do to keep yourself somewhat motivated when working from home. Here are some suggestions from WAHM.com to keep yourself going:

* Make a list: Being able to check things off will provide you with a sense of accomplishment.

* Break it down: Large projects should be broken down into parts and milestones.

* Set workable deadlines: Try to avoid unrealistic expectations for your deadlines.

* Take frequent breaks: Taking regular breaks to refresh yourself can help. I like to take these after I have accomplished two or three things on my list.

* Reward yourself: Sometimes you need to give yourself a pat on the back — especially if you’ve managed to be productive.

Do you have tricks that you use when trying to stay motivated while working from home?

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Friday Fun Video: Here’s A Home Business Idea…The Bar

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It’s everyone’s dream. A way to make tons of money without doing hardly anything. And, it’s even better if you can get some people under you who can make money for you as well. That way each level below helps support you and build your earnings.

Wait a minute…

Anyway, while this might be serious and legitimate, I have my doubts. But I thought the video was worth watching anyway. Amusing in a sad sort of way.

Happy Friday!

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Building Your Home Business Online Presence

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Social Networking Icons added to my business w...
Image by adria.richards via Flickr

By now, you probably know that you need an online presence for your home business. This is important because it always you to expand your reach, and invites potential customers to come and see what you are all about. Indeed, the Internet is becoming so popular now that many people look online to find products and services. If they can’t find you, they’ll go somewhere else.

Left the Box has a great guide on building an online presence for different types of businesses. It is possible to apply these to your home business Web site as well. You build on basic offerings, such as office location and contact information and move up to what you offer and even add on a social media presence and a company blog.

The bigger your online presence, the better you are likely to do. But it is important to realize that building a credible online presence requires that you put in some time and effort.

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Should You Step Away from That Home Business Client

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HDR Vampire
Image by bryancrump via Flickr

Every now and again, you end up with a client that just doesn’t seem to be working out. This client is sucking a great deal of your time, without providing fair compensation. In these cases, you might feel that asking for a raise is a good idea. But what if that’s a no-go?

The Freelance Folder refers to such clients as “vampire clients“. They expect a great deal from you, and because they have been around for a long time, they might be getting a lower rate than you charge now. At some point, it becomes necessary to cut them loose. But, before you do, the Freelance Folder suggests you ask yourselves these four questions:

1. Is this client taking a disproportionate amount of my time?

2. Have I done everything that I can possibly do?

3. Have I exhausted all reasonable resources that I could turn to make this project better?

4. Has the scope of this project changed significantly since it began without any changes to compensation or allotted time?

You may be in trouble if most of your answers are yes. In this case, it may be time to go your separate ways. However, you should do your best to end the relationship positively. In my case, it usually means providing two weeks notice and finishing out the month. I usually just say that I have other opportunities. If you can recommend someone, that’s even better. But be careful! You don’t want to pass a vampire client on to one of your friends…

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