Why Most Home Businesses Never Work

Why Most Home Businesses Never Work

Why Most Home Businesses Never Work

Real Estate, Network Marketing, MLM, Affiliate, Direct Sales

Why do most home bases businesses never work? After all, millions of people, all over the world, have joined an opportunity or started a business of working from home. Some of the biggest names include Carlton Sheets, Dean Graziosi, Amway, Quixtar, Herbalife, Pampered Chef, Avon, Tastefully Simple. Is it the business plan that fails? Are they just scams? Are you a failure?

In reality, the companies listed above have produced dozens of success stories. They have good business plans and definitely are not scams. Chances are that you are not a failure.

So then, what is the problem?

My name is Cyle Greenwell. As a successful home based entrepreneur, real estate investor and internet marketer, I have worked with countless home based business owners who are failing. I have identified three major reasons why.

1. The “Business” Never Becomes A Real Business
2. Most People Still Haven’t Mastered the Art of Online Marketing
3. The Lack of Community, Support and Discipline

Here is further explanation of each of the three reasons and how to fix them.

The “Business” Never Becomes a Real Business

Most home based business owners call themselves just that, “Business Owners.” Maybe it’s “entrepreneur” that you call yourself. Either way, it implies something. You have a BUSINESS! The IRS has specific criteria for determining whether your activities are considered a “hobby” or a legitimate “business.” If you are currently taking tax deductions for business expenses, I recommend that you visit www.irs.gov to determine if the deductions are legitimate.

If you truly are running a business, you should choose a name for it and incorporate or file for an LLC in your state and with the federal government. This is scary for a lot of people because they think it’s too difficult and opens them up to IRS audits. This is not accurate! There are thousands of small businesses in your area, and millions of small business around the world. It’s not that big of a deal! You should do it, too.
H
aving a real business will:
• Allow you to take more tax deductions
• Protect your personal assets from litigation
• Make you look more credible
• Allow you to open credit accounts in the business name
• Make you more dedicated to your own success

I’m not a tax attorney or an accountant, so I am not going to tell you which entity you should choose (LLC, S-Corp, C-Corp), but many home business owners start with an LLC. I do recommend having it professionally filed; which will run you between $100 & $200.

The actual state filing fee varies by state. Go to Google, Yahoo, Bing, or your search engine of choice, and type in “Secretary of State (name of the state you live in.)” Here is where you will find the cost to file.

Here is a short list of LLC filing fees:
• California = $115
• Florida = $125
• Georgia = $100
• Minnesota = $135
• Texas = $300

Remember, to have a professional do this for you (recommended), add about $100 to the state filing fee.

Stay tuned for further details……..

__________________

Cyle Greenwell, President
Max Enterprises, Inc

612-437-7960
maxenterprisesinc@****


Thanks`

Thanks for the good info I'm always up for new knowledge,i'm taking my first steps as a bird dog since it will be a good way for me to start but my question is when would i need a LLC thanks again on your info much respect.


Why Most Home Businesses Never Work

Cyle,

Well put! Looking forward to Chapter 2. Also, as an FYI, Dean's website chops-off the portion of an EM_address "after" the "@" symbol (so you won't be SPAMed to death). If you want it to show up so people can read it you must type it out like: cylegreen@yahoo dot com. Looking forward to Networking with you, so please be sure to keep in touch.

__________________

Attract Private Investors to fund your deals so you can do more deals while using Other People's Money (OPM). For more info go to:
http://www.mcssl.com/app/aftrack.asp?afid=1029023

Regards,
John <>< Future DG & DL REI Billionaire
ASPEN PROPERTIES "I BUY (ALL CA$H), HOLD, LEASE & SELL Commercial and Residential Properties" ANY LOCATION, ANY CONDITION, ANY PRICE
http://ctaffordablehomesforall.usapropertywholesale.com/


Yes

Thanks to Dean's Success Academy, I was introduced to the notion of starting a corporation back in 2008. Good thing, too! I have been deducting all my business expenses since then. I've spent thousands of dollars in advertising, travel, office supplies, and so on and so forth in the past couple of years. Sure, you can deduct some expenses as a Sole Proprietor, but not as many. Plus, as a Sole Proprietor, you have little personal asset protection and you cannot open business accounts that are separate from your personal credit.

All the above ideas are great, but as a new entrepreneur, you need a corporation or LLC because it will give you the feeling of ownership. Trust me, you will be less inclined to quit! You are now the CEO, President, and Vice-President of YOU,Inc. If you were leading Best Buy or Wal-Mart, would you just quit when things started going bad? Of course not! The same holds true for your own business.

The short answer is "YES." You need a corporation or LLC NOW!

__________________

Cyle Greenwell, President
Max Enterprises, Inc

612-437-7960
maxenterprisesinc@****


Syndicate content