…., moms find their creative niche!

“WHEN Donna Maria Coles Johnson left her job as an attorney at a reputable law firm, it was to start a family, a decision she was convinced that corporate America wouldn’t fully support.

In January 2000 she began the Handmade Beauty Network, which offers a wide range of services, including products liability insurance, logo design and legal options to small businesses. Two years later (and a few months after the birth of her first child), Johnson, who once charged $400 per hour, was operating her business from her home office in suburban Washington, D.C. “I trademarked the term ‘lifestyle CEO’ to describe people who start businesses, not solely for financial gain, but also to enjoy the personal rewards of entrepreneurship, independence, flexibility and fun,” says Johnson, 42. She is married to her high school sweetheart, Darryl, and they have two children, daughter Vanessa, 3, and son Brooks, 18 months.

In 2003, Johnson was named Home-Based Business Advocate of the Year by the Small Business Administration in the Washington, D.C., region. She is just one of a growing number of women who are leaving lucrative careers in order to start home-based businesses. The Center for Women’s Business Research in Washington, D.C., reported that as of 2004 an estimated 414,472 majority-owned, privately held U.S. firms are owned by African-American women, and such companies employ 254,000 people and generate $19.5 billion in sales.”

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Entrepreneur.com

“From guard dogs to Las Vegas-style showgirl costumes, there’s no limit to what people will try to write off at tax time for the sake of their business. But where do you draw the line? Which write-offs you’re trying to write off go too far?

We assembled a team of three leading tax attorneys to get their advice on how far is too far in the land of tax write-offs. Our team of experts include Cliff Ennico, a Connecticut-based business attorney who specializes in advising small businesses and entrepreneurs; Donna LeValley, a tax attorney and contributing editor to the J.K. Lasser annual tax guide; and Alvin S. Brown, a tax attorney who formerly worked with the office of the chief counsel of the IRS for more than 25 years.

Tax Write-Off: Home Office
Home office deductions used to be a big red flag for an audit back in the 1990s. These days, you just need to use the deduction with caution. A basic rule of thumb to follow? “Anything that’s unusual and disproportionate to your level of income is something the IRS will check out,” Alvin Brown says.

So how do you determine your actual home office space? This is the area in your home dedicated solely to the running of your business. Once you figure out the percentage of your home office compared to your overall home, then you can go back to your heating bills, electric bills and all other bills that go to supporting your home, and figure out the amount you can deduct for running your business.”

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“The three greatest essentials to achieve anything worthwhile are first, hard work; second, stick-to-itiveness; third, common sense.” … Thomas Edison

Thomas Edison is a prime example of a man who achieved by following the three greatest essentials of hard work, stick-to-itiveness, and common sense. In thinking about the three essentials to achievement that Thomas Edison mentions, I believe it is much like a three legged stool. You need all three legs of the stool to keep the stool standing.

A question often popping in our minds as we strive to succeed in our home based businesses, is, “why do others succeed and we seem to struggle?” Fortunately, you don’t have to ask that question any more!

You and I were made to achieve. We were born with a natural desire to achieve and succeed. We have the power within us to unleash this desire into a burning desire to achieve and succeed in all that we do. Realize, this power we have internally has not have been given to us to just let the power sit idle. Nor were we given this unique personal power of achievement without also being given the ability and opportunity to realize it.

You must first know your strengths and weaknesses before you can be a real achiever. Take some time to think about your home based business and what you want your business to be. Once your strengths and weaknesses are identified, you can begin working toward your goals and dreams.

Keep a firm understanding of the difference between achievement and success. Yes, there is a difference between achievement and success. Achievement is the knowledge you have studied, applied, and result in moving you forward in all you do. Success is being praised by others.

The key is to aim for achievement and success will follow. Break your plan into small stepping stones of achievement. Seeking steady progress like this will ultimately add up to Long term achievement and ultimately a successful home based business.

10 Steps to Running a Successful Home-Based Business

No one wants their home based business to fail, but that prospect is something that every business owner thinks about. Luckily there are steps you can take to help ensure your success. These steps are easy to follow and will help you along your way to becoming a home-based business success instead of a failure.

1. Plan ahead.

2. Put money aside. Don’t begin your business with delusions of overnight success.

3. Organize your time.

4. Organize your space.

5. Stay focused. Remove as many distractions as you can from your home office and stay focused.

6. Figure out home business tax laws now, before it is too late. Don’t wait to research the tax laws that will impact your new business.

7. Advertise your business. You can’t afford to wait for your customers to come to you — you need to go out and get them.

8. Get the proper equipment.

9. Cover your assets. You cannot afford to lose money when it could be prevented by having proper insurance for your home business.

10. Do not get discouraged. Success does not come overnight. It will require dedication, hard work, and a lot of extra effort to make it a reality.

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“Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing.” - William A. Ward

What this means to me is that home business success does not come easily. It comes through sacrifice. It means giving up present pleasures for future benefits. Every time I do not give time to my business and get lazy I am actually robbing myself of a successful future. It is said that people are motivated by either plain or pleasure. So what motivates you- pain or pleasure? What motivates me is the pain of the likelihood of having a future of financial struggles. I do not want to have those struggles so I am willing to put in the time to create a future of financial security. The problem then becomes developing a sustainable motivation that will drive you towards disciplined action. Andre considers internal motivation to be like a muscle. Are you exercising that muscle every day so that you get into the daily discipline of action? My struggle has not been so much getting into action but more so devoting ample time towards study. The quote above has motivated me to get into my training at a more consistent level…especially the part “study while others are sleeping”.