U is for Unique

Try to make your product or service unique so that you stand out in the mind of a customer.  If your product and service is similar to other businesses in the area, then try to make your advertising unique.

To be noticed or remember (in good ways) will set you apart from the rest eventually making you more money for a successful business.

T is for TIME

TIME: do take some for you to recharge BUT dont take a lot all the time.

S is for SUCCESS

 Success for your business can be done.  Stick to your business plan, schedules and don't spend all your profit on vacations and such at least not for the first two years.....you must put back in to the business in the beginning in order for it to grow and sustain itself.

R is for REST

 You must take a day off once a week.  You will burn out, cause family resentment and your business turns into a "job".  Take my word.....I give you and you need to give yourself permission to take a day off to rest. I believe it is important to your customers to take the same day every week so they don't have to guess when you are open.  This also makes it easy to mKe appointments for yourself or family since you will always know which day you are closed.  This doesn't mean that you can't change the day if you need to.....just make to give your customers a heads up in plenty of time.

Q is for Quit

No I don't mean your business (unless it is creating money or family issues) but QUIT over working. Set those business hours and days then stick to them.

P is for Prioritize

Make a 3 lists (One for Family, one for Self and one for Business). Then number items in order of importance for each list.  Rearrange when things are completed and add new items (re numbering if necessary).

O is for Organization

In order for your business to be successful and run smoothly, you must be ORGANIZED:
Keep records, receipts and invoices
Use a calendar for meetings, deliveries, due dates and
Supplies should be organized so there is no duplication or  running out of inventory
Organization will save you time and money.

N is for Necessary

Only purchase NECESSARY items for your business in the beginning.  Sometimes people spend too much getting all the whistles and bells then can't make enough to pay it all off so they go under.  It is difficult when first starting up to not want to get everything.  Trust me, if you don't have tons of "playing" money start out simple.  Save money and once you are operating and able to pay for everything then purchase some more bells and whistles.

M is for Money

It is important that you have a separate checking/savings account and if possible, credit card.  This makes it much easier during tax time.  Don't buy personal stuff on your business account.  If you have to use personal account for a business purchase make a note in that register, keep the receipt with a note on it (paid for from personal account)and try not to do this often.  Business is Business and Personal is Personal when it comes to MONEY!!!!

L stands for Laughter

Laughter helps the insanity!  Once I was working on a project while in the carpool lane to pick up my 5 year old.  When it came my turn to go, I was going to lay down the project I was working but I had stitched the project around my steering wheel.   You have to just laugh.....   I had to cut the project off my steering wheel, pick up my daughter and go home to start the project over.  LOL

K stands for KISS

Keep It Simple Stupid but I change stupid to Specific.  I have to be specific with my pricing.  I deal with quilting and embroidery.   Meander on a quilt has several meanings: small, medium, and large.  Depending on the size of meander the cost of thread and time changes.  So Keep It Simple but Specific.

L is for Love what you do

When you love doing something then you have fun and ultimately produce an excellent quality product.  Once it becomes a chore and you hate what you are doing then it's a JOB.

K is Know your customers and market

When I moved from Maryland to Kentucky, I had to change my market.  I did research on pricing in my area.  I knew that I could not charge the same prices because my customers changed as did the monetary market.   Did I have to change my pricing? If I wanted to keep my home-based business ~ yes.  This area of the country could not manage the Maryland pricing.  Don't get me wrong, I didn't have to change my pricing considerably but some.  In a home based business, you will find that you have to make decisions and perhaps even concessions in order to create and maintain a successful customer base.

J is for Juggle

Oops....definitely "dropped the ball" on this juggle.  When running a home-based business, sometimes you will have to juggle schedules so that you can make family, personal, and business life work.  Don't make it crazy or you'll drop the too often.  My thing -- Family first -- so I juggle around that and make everything else fit where it can.

I is for IRS

Business taxes-- ugh!-- I do and recommend the following to you:  save all your receipts that deal with your business, always opt to pay the sales tax on supplies, keep a notebook to document all your mileage, be diligent with record keeping, and finally, if you have a question concerning taxes find someone to ask or pay someone to do them

H is for "How much to charge?"

Deciding how much to charge for items that you make can be daunting.  If your home business has your selling premodern items then this is not for you.  There are many factors that go into pricing.

Here is a pricing formula (I found this on Pinterest) that you came use to help you:
Time + materials = cost
Cost x 2 = wholesale cost
Wholesale x 2 = retail price

I do think that you have to look at the area you live and others in that area as to what they price since that will have a factor on pricing.   Sometimes people are not willing to pay the price of your time even if you handcraft is exquisite.  On the other hand don't sell your work short.

Definitely a fine line!

G is for Go Ahead

That's right --"Go Ahead" and give yourself permission to.......take chances, make mistakes, learn from those mistakes and finally--- follow your dream!

F is for Find Time For You

Remember why you started a home-based business:  money, flexibility, time for family, etc.  Don't forget you.  You set up business hours -  STICK TO THEM!!!!  Don't tell yourself....just this once....because it will become a habit.  Its okay to every once in a while change your business hours to accommodate a family vacation, concert, etc. just don't make it a habit.  On the flipside....don't be so hard and strict with your business that you miss those same things.  It is hard to find a balance but not impossible.

E is for EIN

EIN:  Employer Identification Number   File for one at www.irs.gov   You must have one of these in order to get a sales tax certificate from your state and a business license if your state, county or city requires one.  Every state is different so you will need to check.  This number is used when applying to most businesses that sell wholesale. 

D is for Diligence

Diligence in your business is a necessity.  You have to make sure that you have supplies, product, time, and finances available at all times.  As a home-based business, it is easy to get slack with your inventory, product or to lose track of time (even waste time).  Any one or combination of these can be harmful to your business.  Set up a system to help you keep track...

C is for Customers

C is for customers which is the most valuable component of any business.  You have to decide if your business is going to have FaceTime with customers or its all online.  If you aren't a "people" person, then you may need to make sure that your business is one that can be conducted online with little or no interaction.  The word of mouth or "print" can create, make or break a business.   Customers are very powerful!

B is for Business

If you start a home-based business -- you must treat it as a business!  Remember if you had an outside job, you would have specific days and hours.   Do the same with your busines on order to keep it on track.  However, your business does give some flexibility with your time -- occasionally.

A is for Area

AREA -  That's right!  As a home-based business, you need to define an area that is just used for your business.  Why, you might ask...  The most important one is for tax purposes.  The next reason is for sanity.  If you are going to have a home business, you must treat it as a business in that area and not a part of your home.  By doing this, you will save any time, money and relationships because 1) you won't be taking over the house,  2) all your supplies will be in one place (saving money, time, etc) and last it will set boundaries for you and your business.