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Archive for the ‘Tips For Making Money Online’ Category

Is a Data Entry Job, Working From Home Right For You?

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While working at a Data Entry Job sounds like the perfect job, working from home isn’t for everyone. Having said that, it could be just the thing for many people, you just have to assess if you are ready and committed to take on a data entry job and make it a success. The attraction is that it is an amazing alternative to the daily chore of going out to work for someone else.

What is important is that you take a long hard look at your circumstances, your lifestyle, your commitment and your ability to motivate yourself. Don’t just go out and resign your job before you have even tried starting a data entry job. Take a while to ask yourself some basic questions:-

– What are my strengths?
– What are my weaknesses?
– Do I enjoy flexibility?
– Can I plan the family activities so they do not interfere?
– Will my family support my new career?
– Do I have self-discipline?

Decide what your strengths are. There is not one type of person that is just right for this type of work. Everyone has strengths and you need to decide if yours are the ones you need for this kind of work. Some strengths that might help in this kind of work could be:-

– You like attention to detail
– You enjoy working on the computer
– You like to work on different projects
– You are dependable

These are just a few to give you an idea. There are so many things that you could consider a strength that would benefit you working from home.

Now take a serious look at your weaknesses. Decide if they will cause a problem or if you can work around them. For instance, you might say that your weakness is that you can’t get up in the mornings. This could be a problem if you schedule your only work time at 8 a.m. but if you schedule your work for the afternoon or the evening then this would not be a problem. This is part of the benefit of working from home – you can decide for yourself how and when you want to work.

How flexible are you? If you are a person that thrives on flexibility then you will especially enjoy taking on different data entry jobs and allowing yourself to work at various times and for varying lengths of time. If you are not a very flexible person (be honest!) then you can still make a great job of this by being more diligent about scheduling your time and also by planning your jobs ahead.

If you are planning to work at a data entry job from home you will have to consider your family. While it is important to set aside time without interruption, it is not realistic to think that the family will never interrupt. There will always be times when you will have to change your priorities. A good discussion with your family outlining what everyone’s expectations are would be a great idea.

Some people just know that they have great self-discipline while others are not sure. If you think you do then you won’t have any problems. If you are not sure, don’t despair. It is amazing where self-discipline comes from when you are interested in what you are doing. Many people find that the mere fact that they are working for themselves is a huge motivating factor. It is a very different feeling from grinding out the work for some one else. You may not have a boss breathing down your neck, but many people are surprised to discover that they will push themselves harder than any boss would have.

It is definitely a good idea to learn about how to prioritize and organize your work. As with any job or home business, there will be jobs that you will really enjoy and jobs that you will want to put off. Take some time to learn some simple routines for organizing such as making lists of things to do that day. Your lists could be split up into priority A and B so that you keep on track each day and stick to the most important tasks.

Organization is important, especially when you work at home. Make sure you have an area where you can sit at your computer and carry out the data entry jobs with everything you need close by. Try to separate your business things from your personal things.

In conclusion I would say that most people could be suited to working from home at data entry jobs if they just take the time to think things through and prepare themselves mentally and physically. The benefits of this kind of work are worth the effort it could take to adapt to this way of life.

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Involving your Kids with your Home Business

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Working from home while caring for toddlers can be an extreme challenge. Trying to find the time to work on your business, without depriving your toddler of the love and attention they need can be hectic. Often times, work at home moms find that either their toddler is spending too much time in front of the TV or that the business is neglected. So, how do you get your business thriving while still being a good mom?

I can tell you from first-hand experience that maintaining a deep level of concentration on work in a home business for long periods of time is next to impossible. Nap time does offer some reprieve, but any break from the kids is usually short lived.

Even with older children, summertime introduces new challenges with kids running in and out of the house all throughout the day.

Set business ground rules and share them with your kids.

Your kids need to be aware that you operate a home-based business and know how to act accordingly. Set out basic rules that will allow you to operate your home-based business as professionally as possible, such as how to answer the telephone, how to answer the door, and how to act when clients are around. Include rules that will help make the time you spend working on your home-based business more productive, such as not touching Mommy’s desk or not interrupting Mommy while she’s in her office.

However, from both a business viewpoint and from the human relations viewpoint, it’s best to have a clear understanding with each of them as to what kind of things they will and should do (answer the phone, open mail, pack and ship merchandise, etc.) and what they definitely are not to do (make payments to people without your authorization, make agreements, deals or contracts without asking you). Such advance agreements can avoid a lot of aggravation and make everything go much more smoothly.

Include your kids in your home-based business.

No matter what kind of home-based business you run, there’s something your kids can do, and making your kids a part of your home-based business can be a great opportunity for you to spend more time with them and teach them things such as handling money.

For instance, one home-based business owner I know takes her age 7 and 9-year-old kids with her when she goes around replacing the products in dispensing machines, and has them count and organize change.

If your kids are working in your home-based business, I believe you should pay them. This is not only a great way to teach your kids the value of labor, but can be a business tax deduction for you as well.

Find creative ways to combine your home-based business and your kids.

If the client is agreeable, for example, you could hold a business meeting at MacDonald’s, for instance, or some other restaurant that has a play area for kids. If a client is coming to meet with you in your home, perhaps she could bring her children so your kids could play together while you meet. Take your kids with you when you go to buy more office supplies or run other business-related errands.

Give your toddler his own office.

Most moms find that their toddlers want to be like mom as much as possible. So, set your toddler up with a table and chair next to yours. Make sure you have good office supplies for them. A coloring book, a few sheets of paper, crayons and a pencil are basic essentials. If possible, an imitation computer and play phone would be ideal office equipment. Then sit at your desk and work beside your child. Remember that a toddler requires a lot of praise, so be sure to look over at your child’s work and compliment it from time to time. Also keep their attention span in mind. Keep your child’s office time limited to a half-hour and only do this once a day. It keeps your child from getting bored with the “game”. Be sure to reward your child for working and allowing you to work with some quality time afterwards.

If you have two or three kids with age range of 3 to 5, you will definitely be up to your neck. While often restless and cannot stay put for a minute, it does not mean that toddlers cannot be trained to cooperate with you while you are working. I know of a friend who was able to manage these ‘coyotes’ perfectly during their supposed ‘office hours’.

My friend installed three tiny office desks beside her own office desk. These tiny offices were complete with a toy telephone, bunches of coloring books, Nursery Rhymes, Bible Stories, Children’s Picture Books, a generous stack of ‘writing paper’. Their snacks and beverages are prepared and kept in the refrigerator for them to go and pick it up whenever they are hungry. When mom is sitting at her desk working, the kids are instructed to work silently at his or her own desk. Everyone must show the ‘assignments’ to mom during breaks. Breaks are timed every hour, to allow the children time to play with each other and with Mom. After two weeks of firm implementation, the children automatically reported to their own little office space after breakfast and everyone silently did their own share of what mom has assigned them to do.

I would like to share with you some of the tips I have discovered to help manage your home office with children in your midst. Since children of different ages pose different challenges, I will present my tips in terms of age groups.

OLDER CHILDREN AND TEENS

We will look at older children first since they pose the least challenge to our work productivity.

Children, who are old enough to understand the idea of schedules and chores, are old enough to understand the needs of your home business. Explain to your children that you do your work at home so that you can be near them when they need you. But also be sure they understand that you must do your work so that you will have the money necessary to keep your house, feed the family and to provide them with money for entertainment.

Once your children understand the necessity of your work, then outline a work schedule and explain it to them. Do make sure they understand that emergencies are definitely an acceptable reason to interrupt your work. Then make sure they understand that between hours x and y, you will be doing work — and then hold them to respecting your schedule.

INFANTS

Infants will never understand your needs for work. But fortunately, babies do well under a schedule or routine. Instead of expecting your child to work around your schedule, schedule your work around the needs of your baby.

It is simple. Babies eat, sleep and poop. Sometimes they play. Fortunately, babies sleep more than they do anything else.

Nap time offers the best advantage for getting your work done. Get your baby into a routine of eat, sleep and play, and you will experience unexpected levels of productivity.

TODDLERS

Develop a routine with your children for meal times, nap times, and play times. Work these times into your work schedule and adhere to them. If you fail to keep appointments with your children, your children will have less respect for your work and do more to prevent you from the completion of your work.

Don’t be afraid to let your children sit in your lap while you are working. It helps them to feel wanted and it helps them to be a part of your daily life. There are times when it is okay for them to be sitting in your lap while you work, and at other times you need them out of your lap. Don’t be afraid to tell them to get down and go play or read a book so that you can resume your work.

Permit your children to have their toys in your office. Often they will sit contently and play while you work. Just knowing you are near is enough to keep them happy.

Be prepared to take an hourly break to deal with your toddler. Try to do potty breaks at your hourly break and to do drink refills. This can help your child grow into a routine that will work well with your home business. At each break, spend a few minutes with your child giving hugs and kisses and talking with your child about what he or she wants to talk about.

Toddlers don’t always do well with the routine, so be prepared to take a few minutes when needed to give the attention that your child so desperately needs in the moment.

IN CONCLUSION

I hope these tips serve to help you in the challenge of operating a successful home business.

My home business permits me to fulfill my financial obligations *AND* see my children grow up. I would never contemplate trading my home business for another kind of business. Even with the added challenges of dealing with toddlers in my home office, the upsides far outweigh the downsides.

Growing my own home business with children around has definitely given me a new respect for all people who successfully run a home business with kids in the work environment. I tip my hat to you… You deserve it!

Scheduling daily time with the kids will help you remember that your kids are just as important as your home-based business activities.

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Investing the Profits from Your Home Based Business

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Having made the bold and glorious decision to sack the boss and go it alone you are one of the few who have what it takes to succeed. You have an entrepreneurial spirit and a strong will and these are rare and valuable attributes that will guide you throughout your professional and personal life.

Now that your business is up and running and you’re profiting from your efforts, it’s time to turn your attentions to investing the profits from your home based business wisely and for maximum gain.

One of the most consistently returning asset classes over the long term and the one that the majority of us can profit from is real estate.

Understanding market cycles

Now, you’re most likely aware that property markets are cyclical ? this is because there is a direct correlation between the underlying price of real estate in relation to individual buying power. Simply explained: when property prices rise above what first time buyers can afford to pay the market slows down, stagnates and sometimes readjusts ? but as soon as purchasing power increases again, either with a drop in interest rates or an increase in GDP, so property prices begin rising again.

And there are even ways to make money from real estate during a market downturn!

Investing in real estate for income

Depending on the nature of your home based business your monthly income may be slightly erratic ? some months being better than others! If you invest in property assets in a buy-to-let or even jet-to-let capacity you can secure yourself a consistent monthly income which may afford you an added degree of financial security.

Buy-to-let is when you purchase property for rental purposes ? this make be an apartment you corporate let, it could be a house you student let or even a family home you rent out long term.

Jet-to-let is similar but it involves purchasing overseas property for short term weekly or fortnightly rental to tourists. This type of letting is usually very lucrative indeed during peak holiday periods but may mean you have a property that is empty for a few months out of season.

Both types of property investment return you a regular income and at the same time the physical real estate asset will grow in value over the long term and if ever you wish to release the profits from your investment you can sell on the property and take the gains you have accrued.

Investing in real estate for profit

The alternative to building up a property portfolio for income generation purposes is purchasing property and selling it on relatively quickly to realize the gains the asset has accrued.

You can do this in a number of ways…firstly you can purchase run down property in need of renovation, tidy up the property and turn it into a home before selling it on at a higher price and reaping the profits gained.

Alternatively you could seek to beat the curve by buying into up and coming areas, waiting for prices to boom and then selling on for profit. This is quite a risky strategy for a first time investor as timing the market is hard!

An alternative to this is looking overseas for the latest emerging property markets worldwide and buying properties to renovate or properties off plan and then flipping them on for maximum gains in the short term.

Financing your investment

As a self-employed individual it can be tricky to get a mortgage unless you have audited accounts, bank references etc., etc. If you don’t have all of these requisite documents there are other options available to you.

The main options are re-mortgaging your primary residence and releasing the equity that you have accrued already for reinvestment in another property project or taking out a self-certification mortgage where you make a large down payment and basically tell the lender how much you can afford to borrow!

A winning attitude

You’ve already proved you have what it takes to succeed against the odds by establishing a profitable home based business, now apply the same steely determination to your real estate investments and you will succeed in making the maximum gains. Start small, begin gently, test the market and your understanding of it and slowly build up a profitable real estate portfolio from the profits of your home based business for maximum financial gain.

Good luck in achieving your goals.

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Internet scams are everywhere now but real money making opportunities are rare like adsenselover

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Anyone who’s ever been online should, by now, be aware of the hundreds of “work from home” internet based companies that are consistently advertised in various websites. One of the more popular is “doing surveys for cash.”

There are literally hundreds of online survey companies. Most of them are not legitimate ways to make money, although a few of them can earn you a few bucks. These companies target stay at home moms who want to make a few extra dollars while taking care of the kids, the unemployed who want to make a few extra dollars while watching dozens of daytime court TV programs, the elderly who are not afraid to use the computer and teenagers who think they know everything, but aren’t yet wise to the ways of the world. And let’s not forget the very greedy people of low intelligence who think they can get rich by answering a few simple questions to which a five year old can respond.

These people are prey to unscrupulous methods used by some online survey companies. These scams include the following:

1. The fee for joining. There are some sites out there who charge a “fee” to join. They promise you an opportunity to earn up to $100,000 a year, sitting home at your computer taking surveys. The fee is usually less than $50. These sites are always a scam. If it was possible to earn $100,000 a year doing surveys online, the roads would be empty because no one would be going to work. Everyone would be home, in front of their computers, earning easy money. These sites prey on the greedy and/or lazy people of little intelligence. By the time they figure out that their “get rich quick” scheme isn’t working, they’re out $50. It’s not a crime to be greedy, lazy or stupid. And, unfortunately, it isn’t a crime to prey upon them in many cases. These sites are careful to add “disclaimers” stating that not everyone will earn this amount of money. They promise nothing, but include testimonials on their site from people with no last names who claim to be living the high life from the comfort of their homes. They usually have photos of flashy cars and huge houses on their websites. People need to stay away from these sites like they would avoid the bubonic plague. Unfortunately, PT Barnum was right when he said that there was a sucker born every minute. Which is why these sites continue to exist.

2. The cell phone scam. In this popular scam, you’ll be asked for your cell phone number to “confirm” your membership. Seconds later, you will receive a call on your cell phone. The call will end up costing you anywhere from $1.95 to $4.95; depending on the company. These companies don’t usually end up charging you too much because they figure you’ll never miss a couple of bucks. But it adds up for them and that’s how they make their money. They will then periodically send you text messages telling you you’ve won a prize and to claim it, you simply need to reply to the text. This will end up costing you more money. Do not give out your cell phone number to any website.

3. The Switcheroo. In this scam, you will be participating in a survey and then be directed to another website. They will ask you to show an “interest” in obtaining more information from one of their marketing partners. You will continue to answer “no” and keep getting more offers; the survey will never end until you answer “yes.” Now this scam might not cost you any money, but it will cost you time. Because when you say that you are interested in learning more about health insurance, expect to receive an average of 10 calls a week from telemarketers trying to sell you health insurance. And the insurance they are trying to sell you is a lot more than you can expect to pay than if you contact an insurance agent in your area. I know this for a fact as I’ve actually done price researching. And the telemarketing company will ask you for both your social security number as well as your bank information (so they can send in a deposit with your application). It’s dangerous to give out such information to anyone over the phone; legitimate companies will send you any information you require by mail.

4. The phone bill scam. You’ll sign up for a survey company and provide your telephone number. Then you’ll proceed in completing a survey and receive an offer for a free issue for a magazine. You’ll think to yourself – what’s the harm? You’ll give your name and address for the magazine and hardly notice when a fee for a year’s subscription shows up on your telephone bill,. If you read the fine print, however, you will see that when you provided the company with your name and address to receive your “free” magazine, you authorized them to bill you via your telephone bill. They figure that you won’t even notice the extra $12.95 attached to your phone bill. And many people don’t.

These are just four of the scams that I’ve actually encountered during my foray into the world of online survey participation. I consider myself a half-way intelligent person, but I got caught for $1.95 for the cell phone scam and $12.95 for the magazine subscription. I’ve also been called about 20 times so far by different “health insurance” company representatives who requested my social security number and bank information over the telephone. These companies have yet to send me anything by mail. Luckily, I know better than to give such information over the telephone.

Online survey taking can be fun, but be careful. Do not give out your cell phone number under any circumstances. Do not give out your social security number or bank information. Do not ever express any interest in receiving information from health insurance providers. And avoid the “online education” inquiries as well. Do some research prior to joining any company, do not pay a fee, and beware of anyone or any website that promises to make you rich.

If you need to start real home based internet business to build your work at home online money making business to earn some extra cash through google adsense program with ready made top paying adsense websites and templates or just want to make online money at home with data entry jobs to become rich in your spare time just visit picmoney and adsenselover they are the real money making opportunity behind every successful millionaire on internet, they are tested by me also and by other successful entrepreneur, so just make a search in “picmoney” and “adsenselover” in search engine.

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Internet Marketing is Not As Simple As They Want Us to Think

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How long does it take for us to realize that most of what is on line is lies trying to fool people into releasing their purse strings? How hard is it for the regular person to find a legitimate business that is not out to scam them? Human nature wants to believe but when it says no work at all, you better see a red flag. They are going to tell you what you want to hear and head in the other direction with your money and have a vacation of a lifetime.

Work at home is just what it states you do the work, without the work involved you will not advance. Thinking that it will come to you is liking to thinking there really is a pot at the end of the rainbow full of gold. We are in the big leagues although we don’t realize we are not in the competition because we have not figured out what the gurus know. They will tell you bits and pieces but they are not telling you the whole marketing scheme when they can make money selling us marketing tools a piece at a time. You are much better off taking the time to find the systems that will have all the marketing tools to help you and save you time and money.

We can spend loads of money on marketing tools that will not produce any results, listen to your buddies online they will tell you what has worked for them. We know the big bucks are in advertising, if that is your specialty you will not have a hard time making money. Get your name out there, so people know you are ready to help them. The rest of us have to find legitimate companies to buy advertising from for our work at home opportunities. What kind of paid advertising is out there? Google paid advertising, you will find banner shows, ppc (paid per click), ppv (paid per view), ezine ads, paid solo ads(and you are looking for solo ads to contact addresses, ad sense, just to name a few.

I even found a co-op with a banner rotator that will sell you views of your rotator. Advertising is very diverse on line, classifieds are a little giant when producing results. If you have your own safe list you will be able to send your own opportunities to your membership. There is free forum boards, ad boards get some of your friends to start posting and when it gets on its feet you can sell advertising because they know its a real deal.

Just because you are on the internet does not stop you from starting your own business. Do You have a specialty baking or planning menus for others, maybe a green thumb. It is easier to follow your heart with something that really means something to you for a business plan. Others have done it and you can do whatever you put your mind to. Starting out with a blog might show you the outlet you are good with or comfortable telling others about then move on to getting your business started. Remember our dreams fulfilled makes us a happier person.

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Internet home business opportunity

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So you want to start a home Internet business and have your idea and web design accomplished. Now you need to add the content that will get people coming to visit your site. The best way to fill your site and make it appealing is simplicity. You don’t need to have tons of graphics and bright colors plastered all over. The clean simple design is the best and attracts the most people. Too many things going on through out a site can be overwhelming to the viewer and drive them away, not get them to stay and come back. Stay away from playing annoying music of any kind on your site. This a sure fire way to drive away business. You also want to stay away from things that require time to load. This slows down the viewer’s access to immediate information. Just because you can put it on a site does not mean you have to or should. You want to have value to your site.

What works is good content. This will make the viewer linger and become more interested in what you have. There are tons of ways to accomplish this and you will to use and decide what works for you. Pick a few tools of the trade use them and apply them to your site and monitor the response and traffic. If you notice that some are not producing remove them and try something else. You will have to be diligent but remember that simple is better. You don’t want to implement every tool at once it can make your viewers feel uncomfortable so use a few and ditch the rest. Here are just a few possibilities.

1. E-mail lists are great to allow customers to talk about your products and services. Yahoo groups offer this service free. Members can post comments and questions to you or each other and an e-mail is generated to all users. The group can be private, subject to approval, or public. You will want to see daily traffic and post frequently in the beginning to get things going. Eventually your customers will start talking to each other. These lists are a great tool and keep people active and coming back.
2. Polls for viewers to vote on a specific issue related to the site’s content. You want to keep people interactive so they don’t bored. Writing a poll from scratch can be tricky but they make great templates today that can be of great help. You would fill in the blanks and then copy and paste the code to your site.
3. Weblogs or blogs are like an online journal that is frequently updated. You will add some good links into it help up your business of course. It is also a form of communication that allows people to stay updated on what is going on with your business and what they can expect in the future. Today blogs have taken on a life of their own and are sweeping through cyber land.
*****

About the Author:
—————————————————————–
To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.Dream-FromHome.com
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Internet Home Base Business Review

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About a year ago I lost my job due to circumstances beyond my control. It was a big ugly corporate story that I won’t bother to get into right now. Let’s say that it was probably the best thing to happen to me. I was tired, and mentally burnt to a crisp. If you saw ‘Office Space’, you know where I’m coming from. I was in an unrewarding job, and just a slave to ‘The Man’. When the office was closed I was afraid of the future. How would I find a job? Will I lose my car? Wait a tic…why should I rely on someone else to support me? I need to take care of myself.

When I lost my job I began to notice all of the ‘make money on the internet’ ebooks for sale. Maybe they were beginning to boom, or maybe I just had more time to notice. I’m a very skeptical person. I would look at many of the different programs out there, but I would never buy one. I always felt like someone was out to separate me from my money. After a few weeks my bank account was getting thinner, and I had to do something. I purchased one program, and it helped….well for awhile. I read the book a few times before putting it to use. I really saw the value of the program when I went to put it in use. Many of the websites that were mentioned in the book were no longer in use, and the systems that were mentioned were just out of date. Yeah, I got burned. I was frustrated, and put the whole internet home business on the back burner. I always felt there was a way to make it work, but didn’t quite know how.

Fast forward a few months, and I was talking to a friend about my internet based misfortunes. He laughed because he was trying the same thing, but didn’t want anyone to know about it. He felt like a fool for trying, but if it worked out he would be financially set. I asked him what he was using. He mentioned the Rich Jerk program. Great, a pompous guy telling me how much more money he has than me. Just what I need. He told me that things were working out for him. He wasn’t making a killing…yet, but his income was growing each month. Ok, so I’d give it one more crack. Misery love company, right? A long story short….I’m not miserable. The Rich Jerk program really gave me some useful information that I could use right away. They even built a website for me…FOR FREE! Yup, I didn’t even have to mess around with any HTML code. I just told them what I wanted and I was off to making some cash. The last time that I checked they brought back the free website offer, but it’s for a limited time. This is the real deal.

After some time I began to talk to more people about different internet home businesses. I’ve heard the horror and the success stories. I did notice a trend to the stories. The same three sites were mentioned, so I began to check them out a bit more. They are all very good, but certain types of people tend to excel with the different programs. It’s just a matter of finding the one that is right for you. I’ve broken down the three best work from home bussiness on my website to make your searching easier. Take a look around and decide for yourself. I doubt you will find a better listing with out all of the marketing filler.

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Insurance Matters To A Home Office

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The home office is fairly commonplace these days as more people choose to work from home, either telecommuting or starting their own businesses.

Several things need to be considered when setting up a home office, not the least being how to insure it. If you are working at home under a telecommuting arrangement with your employer, the risk will be borne either wholly or partially by them. You will need to clarify exactly who is responsible for what before entering into the arrangement.

If starting a business from home, you are responsible for ensuring that the insurance coverage is adequate. Some different types of insurance for the home-based business operator to consider are:

? Office equipment

? Inventory (if stock kept on the premises):

? Public Liability

? Professional Indemnity

? Workers’ Compensation

? Personal Accident/Income Protection

Many small or “micro” business operators may feel they need little, if any, additional insurance. Picture this…

Your home is struck by lightning during a major storm and all of your electrical equipment is “fried”. Your Home Contents Policy will cover replacement of household electrical appliances destroyed as a result of the lightning strike but does not cover equipment used in the operation of a business. Some companies do offer limited cover for home office equipment…yours doesn’t.

Do you ever consult with clients at your home office? If a client trips on one of your children’s toys and is injured, don’t expect to be indemnified by the public liability section of your household policy. Any liability arising out of your business activities will be borne by you.

Think about this for a minute. Medical expenses, loss of income due to incapacity, not to mention legal expenses if the matter goes to court plus any judgement that may be awarded. Without Public Liability insurance for your business, one claim is all it would take to ruin you financially.

If you keep inventory on the premises, remember that it is not covered under your household policy. A separate policy to insure your stock will be required.

Perhaps you don’t handle stock. Your product may be your expertise and talent such as a business consultant or financial advisor. What if your advice is proven to be wrong? A financial advisor whose clients lose a lot of money because of his advice may well sue him for that loss. Without Professional Indemnity insurance, another small business folds.

Another question to ask yourself is this: What effect would losing my home-based business income have on my current lifestyle? If the answer is anywhere from “hardly any” to “catastrophic”, some form of Income Protection or Personal Accident insurance is recommended.

Then there’s Workers’ Compensation. “Workers’ Compensation?” I hear you incredulously ask. “But I don’t employ anyone!”

Consider this …

You’re a graphic designer and very, very busy. Demand for your services has grown so much that you occasionally subcontract out some of the work.

On one particular occasion, you contact another designer with whom you’ve worked before. He meets you at your favourite coffee “haunt” and you go over the job specifications with him. The meeting ends well and you look forward to receiving his part of the project in due time. He can’t wait to get started (or to receive your cheque).

On the way home from his meeting with you, the other designer is involved in a car accident and seriously injured. He will be unable to work for at least eight weeks and has no Personal Accident insurance.

His was the only vehicle involved so there’s no recourse there either. His only alternative to keep life in some kind of order is to claim Workers’ Compensation…from you. Since the accident occurred on his way home from his meeting with you ? someone who has offered payment for a service provided ? it would be difficult to successfully dispute his claim.

Regardless of what type of business is being operated from your home, it is imperative that the correct insurance type and level of cover is obtained. As is illustrated by the examples given, it only takes one incident, giving rise to one claim that can ruin, not only a business, but also lives.

And it is not just the business operators who suffer. The injured parties who are themselves unable to earn a living, through no fault of their own, also suffer – as do their families. Even if a judgement is awarded in favour of an injured party, the now bankrupt home-based business operator involved would have no means by which to pay it.

Bottom line? Talk to an insurance broker today!

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