Running a business from home can be both a blessing and a curse. The key to success can be the effort you put forth at the start. After a while the business can take off, but when you first start things will seem like an uphill battle. As with other businesses, the only way to see results is by working hard.

Expenses such as taking clients out to lunch can be deducted on tax returns. A dinner business meeting is a legitimate cost of doing business. When doing this however, make sure to only do so with business associates or customers, because taking your kids to lunch and claiming a business deduction is not smiled upon by the IRS.

Make sure you understand your production costs on homemade items. You determine mark-up for wholesale by multiplying your cost by two. Standard retail price will be twice the cost of wholesale. Price your items at a rate that works for your customers and yourself.

You need to give yourself breaks while you’re working from home, but be sure that you don’t become too distracted during these breaks. Leave personal phone calls, chores, and errands for when your work day is over. Just clear your mind by taking a walk or exercising for a short period of time. This will make you feel refreshed.

You will succeed if you are motivated to make your home business successful. It may be easier and more cost-effective to build an office at your home and work out of their rather than leasing pricey office space in a commercial lot. This is also an excellent way to maintain appropriate and clear boundaries between work and home.

While having a home business can take a lot of time and effort, you’ll be happy to know that every business starts off this way. If one could become rich overnight, everyone would do it! Working hard to build a strong foundation will assure whatever is built afterward has a good chance of standing, so long as you continue to work hard.

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