Family and friends aren't the only distractions from

Family and friends aren't the only distractions from home office productivity-often you will find yourself generating your own set of temptations. Because you are both employee and boss, it is your responsibility to ensure you keep your office distraction-free. This means when you mark your territory, be sure to include only those things that relate to business. Keeping your PlayStation 2 in your office is extraordinarily counterproductive, and your virtual corporation will suffer for it.

Cyber Space: Home Office Computer Considerations

It's a given: if you're running a virtual corporation, you need a computer. Practically your entire business will be contained on this one essential piece of equipment. What are some of the things you should consider when choosing a computer for your home office?
* Specs-Speed, Storage and RAM: Depending on the needs of your business, you will have different requirements for your computer. Modern computers often have more storage space than you will ever need. For most online businesses, 40 gigs of hard disk space is more than sufficient (and 80 gigs is pure madness). Your processor speed should be the fastest you can afford-the faster your computer works, the more efficient you will be in getting things done. Look for a processor that is at least 1.2 gigs. Regarding RAM, which governs the number of applications you can have running before your computer starts to slow down, 256K is a common and acceptable. If you can get it, you should consider a system with 512K of RAM, which will allow you to run more simultaneous applications (Internet Explorer, a word processing program and a spreadsheet program) without sacrificing speed.
* Hardware and Peripherals: Most virtual corporations need at least a printer and a fax machine. A scanner is also useful for a variety of tasks, including converting paper files to electronic ones. You may also need a good audio system for your computer with external speakers.
* Software: A good home office will have the necessary software to tackle any task. Bundled office software such as Microsoft Word is essential: you will need a word processing program, a spreadsheet program, and a database program. Slideshow presentation software such as PowerPoint is optional, but helpful. Also, since so many online companies use PDF (portable document file) format for business material, product delivery, theft protection and more, you should consider investing in the full version of Adobe Acrobat, which allows you to convert any file to PDF format. Other software programs you may find useful: web design software (FrontPage, Dreamweaver), accounting software (QuickBooks, NetSuite), image manipulation software (Adobe Photoshop, ImageMagic), and desktop publishing software (PageMaker, Quark Xpress).
* Connectivity and Security: You will need a reliable connection to the internet, as well as a powerful antivirus program to shield your computer from all those nasty little bugs crawling the internet (except spiders...spiders are good!). If it is available in your area, you should have a cable modem or DSL connection; if not, you may want to consider a satellite connection. Dial-up service is slow and often unreliable, and it also renders your phone line unavailable. If you must use dial-up, download an internet answering machine such as CallWave that will take messages and alert you if someone tries to call while you're online, giving you the option to disconnect and take the call. Also, because your entire business hinges on your internet activity, don't skimp on antivirus protection. Norton and McAfee are the two most popular antivirus software programs, and they are relatively inexpensive-especially when compared with the cost of replacing your hard drive after a virus destroys it.
* Portability: Do you anticipate being on the go, or traveling frequently for business? Laptop and notebook computers are far more affordable than they used to be, so if you need portability for your home office, a laptop may solve your problems. Additionally, a laptop allows you to change your work location if you need a break from the same old surroundings.
* Backup: Always back up your files. Save what you're working on every thirty to sixty minutes. Many programs have an auto-save feature you can set to automatically save your open projects on specific time intervals. Because the majority of your virtual corporation is on you computer, and computers are machines with the potential to throw a few screws now and again, you must take steps to ensure you retain as much of your files as possible in the event of malfunction. You should also back up your entire hard drive and keep the discs in a separate location outside your office.

No computers, no business - get the best

No computers, no business - get the best you can afford

Home Office Feng Shui: A Crash Course in Arrangement

Feng shui (pronounced fung shway) has recently gained popularity in the United States. It is the ancient art of arrangement and color usage that is presumed to promote balance and the flow of energy in a given space. Even if you don't believe in the philosophy of feng shui, applying some of the basic principles of this practice to your home office can help you operate your virtual corporation more efficiently-and may make it a pleasant place to spend the better part of your day.

Following are some quick feng shui tips tailored to the home office space, but you can apply these techniques to any office.
* Location: Situate your home office as close to the front door of your house as possible. If you can avoid it, do not locate your office in the basement-the first floor or higher is preferable, because energy flows upward. Basement offices can be painted white, with bright lighting and a fan installed to promote energy flow (or just to make you feel happier).
* Desk placement: Position your desk so that you are facing the entrance to the room, with your back toward the wall or a corner. Even outside of feng shui considerations, sitting with your back to the door is disruptive because you won't know who is coming in to the room. If there are windows in your office room, try to place your desk so the window is to your left if you're right-handed, and to your right if you're left-handed. Never position your desk in the center of the room.
* Color scheme: Feng shui recommendations for color in the home office vary according to your company's goals. If your business relies on selling or making deals, the aggressive red is a good choice. Yellow promotes discipline and stimulates mental activity and clarity of thought-a solid color scheme for any home office. Warm colors such as orange and tan represent collaboration and cooperation. This is an excellent option for offices with more than one team member. For writing and other creative business endeavors, consider blue-green, which is soothing and promotes creativity.

Keep your office a comfortable and positive environment!

Marking Your Territory

One of the most difficult aspects of working from home are the inevitable interruptions. Well-meaning friends and family members often have difficulty understanding that even though you're home, you're working; and particularly in the beginning you are likely to receive a steady stream of requests, demands and invitations that you cannot fulfill.

It is important to discuss your plans with everyone in your household, including frequent visitors. Show them your office or the space you intend for it, and explain to them (gently) that when you are there, they should consider you "at work" and only accessible in emergency situations. If your office is in a separate room, be sure you have a door. Post your work schedule on the door so that everyone knows when you will be available for non-work related matters.

Essential Equipment for the Home OfficeMany components of

Essential Equipment for the Home Office

Many components of the home office are a matter of personal taste. However, there are some things every office needs in order to function. Shop carefully for your home office equipment-if space is limited, you can find space-saving versions of just about any piece on the list.
* Computer: You can't run a virtual office without a virtual facilitator, otherwise known as your computer. Your computer should be reliable and fast, with sufficient storage and RAM to run your business easily. You probably don't need the "best computer money can buy." However, you should make sure you have at least 20 gigs of storage space (especially if you work with graphics, PDFs or other large documents); external storage drives (CD drives with burners work great!); at least 256 megs of RAM (Random Access Memory); and a 1+ gig processor (the processor is what allows your computer to load images, find files, open windows and generally run fast). Also, ensure that you have the peripheral devices necessary to your business: scanner, printer, fax modem (or a scanner/printer/fax combination, which saves you money and space), and plenty of USB ports to plug everything in.
* Desk: Somewhere out there is the perfect desk for you. You can find a computer desk to fit just about any space, whether you have a corner office or an entire finished basement. Your desk should be functional, sturdy and convenient, with plenty of storage space so you don't need a lot of auxiliary storage. Be sure the desk is a good height for you, unless you plan to get an adjustable chair.
* Chair: Your butt will be spending a lot of time planted in your chair, so make sure you pick one that is comfortable. Wheeled chairs are nice for moving around your office, but if you don't have carpeting you may want to avoid wheels. If possible, get a chair with adjustable height so you can avoid straining your arms as your typing, or match stationary chairs to your desk before you buy one.
* Paper storage system: Though you will probably be storing most of your files on your hard drive, there are some things you should keep physical files of, such as your tax returns and equipment warranties. You can get a good two- or three-drawer file cabinet for under $50 from an office supply store or major department store. If your business deals with sensitive client information, consider purchasing a locking file cabinet. Make sure you have plenty of folders: buy in bulk to save money. You'll also likely need a bookshelf for reference materials, and again, you can get a good set of shelves for under $50.
* Telephone system: You need a good, clear line of communication, so be sure whatever phone you use doesn't crackle or cut out. If you use a cell phone, go with a reliable service carrier-you don't want to lose your signal in the middle of an important business call. For landline phones, you might consider a satellite phone. They are more expensive than other types, but have both wired and cordless receivers and transmit signals clearly from room to room. At the very least, invest in a good cordless phone in case you have to suddenly duck into another room in the middle of a call. When you choose your telephone service carrier, opt for one that allows unlimited local and long distance calling, call waiting, three-way calling, and voicemail. If you have both call waiting and voicemail, you will never miss a call-even if you're on the other line and can't answer the incoming call, the voicemail system will pick it up. You also might want to consider a hands-free headset if you will be spending a lot of time on the phone.
* Organizational/calendar system: Organization is important for your home office. You should have a large, write-on calendar hanging on the wall so you can see your month at a glance, as well as a portable organizer that you keep with you at all times. A portable organizer can double as storage for business cards, so you're ready to take on a new customer or client any time. Tuck a few business cards into your organizer so you're always ready to pitch your business to a potential customer-you never know when you'll run across one!
* Shipping supplies: Keep your home office stocked with stamps, envelopes, paper, printer ink, paperclips or a stapler, and any other correspondence supplies you might need to avoid running to the post office. Also, consider investing in a postage meter-sending company mail out with printed postage rather than stamps helps to enforce your big-business image.
* Special considerations: Make sure your home office has everything you need to keep your business running smoothly...and you interested in running it. If you can't concentrate without background noise, get a small fan or white noise machine. If music helps you work, invest in a good stereo system with a remote control (so you don't have to keep getting up to adjust it)-or start collecting mp3 files to play right from your computer. Make your home office a pleasant place to be, and you will be much happier spending time in it, and therefore more productive.

Consider what aspects of your service-driven company best

Consider what aspects of your service-driven company best lend themselves to a hands-off approach. Perhaps a telephone consultation would provide a method to deliver a portion of your services to clients. If you think outside the box, you will be able to discover additional ways to provide your services and expand your business possibilities.

Referral/recruitment companies: This type of company is sometimes referred to as multi-level marketing, or MLM. Despite its unsavory reputation, the MLM industry does offer some viable opportunities for those who research companies carefully and plan accordingly. Many MLM programs are indeed scams, but some are legitimate business ventures.

Passion is the most important aspect of a successful MLM business. If you don't love the product, you will not be able to convince others to invest in it. Fortunately, there is a range of MLM products to suit every taste; so if you're interested in multi-level marketing you will have no problem finding one you're passionate about.

Of course, MLM companies are especially suited to a virtual corporation. Many of the legitimate programs revolve around e-books and e-courses, which are the core components of web commerce. In many aspects, MLM businesses are the ultimate product-driven company models optimized for the internet.

Specialty/niche companies: If you have worked in a particular industry for a long time, or have extensive knowledge in a particular area, your company may involve dealing in specific products or services that would only be of interest to others in the same industry. For example, if you are involved in the restaurant industry and create or design tabletop displays for food service establishments, only restaurants would be interested in your offerings.

The good news for specialty and niche companies is that a virtual corporation allows you to expand your boundaries and reach potential clients all over the world. Because you can target your marketing and make your web site available to anyone with internet access, the web is the perfect home for specialty businesses. Work at making your virtual corporation look big online, and you will find yourself a prospering global company!

The virtual potential of your business is ultimately up to you. Going online with your company and building a professional presence is an inexpensive and effective way to expand your business.

Home Office 101: How to set up your base of operations

Your home office is the focal point of your virtual corporation. There are many important considerations in setting up an effective home office. Of course, there is also a list of benefits a mile long to working out of the home: no traffic or commuting time, little to no overhead expenses, the freedom of flexible hours, money saved on wardrobe and meals, and so much more.

Your home office can be a technology paradise - or a comfy chair and tea.

You don't need to own a house in order to have a home office. Whether you live in a studio apartment, a trailer, a townhouse, or a sprawling country estate, the beauty of working from home is the flexibility. With planning, you can construct a home office anywhere.

Yes, You Can: Why No Goal is Too

Yes, You Can: Why No Goal is Too Lofty

Though it may seem contrite and clich d, setting low expectations for your business can help to guarantee you meet them. It is okay, and in fact preferable, to start out slow and take small steps, but in planning your goals for your virtual corporation you should aim as high as you want to go. Whatever your dream is for your career, whether you just want to work for yourself and earn a comfortable living or buy a mansion on an ocean shore, make that dream your ultimate goal and work toward it. No goal is too big-or too small.

Your business, your way: determining your virtual potential

Just about any type of business can form a virtual corporation. Some types are easier than others to run in a virtual setting, but with planning and creativity, any business can be implemented online. In order to determine your virtual potential, you should examine several aspects of your company and figure out the best way to present your business online.

Product-driven companies: Companies that offer physical products are the easiest to translate to a virtual format-unless, of course, you're selling cars or elephants; both of which present shipping difficulties. In setting up a virtual product-based corporation, your main considerations will be how to reach customers interested in your product and how to deliver orders.

One important, often overlooked aspect of product-driven online companies is price setting. Be sure to factor in the cost of shipping when determining how much you will charge for your products. Online consumers are used to paying extra for shipping, but if your delivery cost exceeds the cost of the product it may be difficult to generate sales. In the United States, the USPS (United States Postal Service) generally offers the lowest price for individual shipments, while FedEx and UPS offer discounts for multiple packages and frequent customers. You should determine the shipping method that best accompanies the product you offer and plan accordingly.

Selling information is both a product and a service - plan accordingly!

Service-driven companies: Depending on the type of service your company will offer, running a service-based virtual corporation can be simpler (and less expensive regarding overhead costs) than product sales; or it can be difficult and may require a bit of creative planning. For example, there are thousands of companies that provide web design and hosting services-obviously quite conducive to a virtual environment. On the other hand, if you are a personal image consultant, working face-to-face with clients is an essential aspect of your business.

However, even personal image consultants can benefit from the flexibility of a virtual corporation. Constructing a dynamic web site is a vital step for any company and will help you reach prospective clients in your area that otherwise would not come into contact with you through conventional advertising. If your company is well known in cyberspace, your web site will enable those visiting your area to find you and bring in more business. Additionally, you can offer less extensive versions of your services tailored to internet-friendly delivery. In the example of the personal image consultant, you might offer to review digital photographs and provide a custom analysis of recommended wardrobe, hairstyle and makeup suggestions. These mini-services can also provide an incentive for local clients to enroll for the full version.

Signed, sealed and delivered: why you should create

Signed, sealed and delivered: why you should create a contract or proposal for yourself

Just as you would never enter into a professional agreement with someone without a contract, this holds true in dealing with yourself and your personal goals. Take the time to determine your goals for the next five years and get them down on paper. Having an official document that states your intentions for your business is a powerful motivator, and can also serve as a road map when you get to an "all right, now what?" juncture in your company's development. Two good formats for your agreement with yourself are contracts and proposals.

Contract: A simple contract stating your goals, intentions and plans for your business can be sufficient to start you out. Your contract can be one page or several pages long, depending on what you choose to promise yourself in regards to your business. Be sure to include the time commitment you plan to invest (part time, full time, part time that develops to full time); what you ultimately envision your company to be (your "dream job"); and the steps you will take to get there. You can even include your intentions to give yourself a break once in a while and the motivating factors behind your startup venture. Make sure to sign and date the contract. If you have supportive friends or family members, ask one to sign as a witness-and maybe even help you stick to your goals along the way.

Proposal: Though a proposal is a more complicated document than a contract, taking the time to write a great business proposal is worth it for the detailed plan of action you end up with. Most business proposals are exhaustive resources. They are several dozen pages long and list just about every bit of information pertinent to your business you should keep in mind. The components of a standard business proposal are as follows:
* Statement of Purpose: This is your reason for writing the business proposal in regards to your company. Most business proposals are written with the intention of explaining why the business will work to a bank or group of investors, in order to obtain funding. For goal-setting purposes, your statement of purpose should be a brief summary of your business goals to serve as a framework for the rest of the document.
* Description of Business: In this section you describe the industry you're working in and what function your company performs in that business: usually sales, service, information or product provider.
* Location: Take a page or two and describe where your business is located (home office or outside location). List the benefits and drawbacks of operating your business from your chosen location.
* Management: This segment could also be titled "All About Me." The management section details the experience, knowledge and resources you will bring to the company. If you are running your virtual corporation in conjunction with a partner or key employee, their contributions should also be listed here.
* Market: What segments of the consumer population will be interested in your product or service? Identifying your market early on will give you an enormous edge and help you target your marketing efforts to your best advantage.
* Competition: Researching what other companies in your industry are doing can help you plan your own strategy for success. In this section, try to describe both the strengths and weaknesses of your competitors so you can avoid making the same mistakes.
* Personnel: Do you already have a business with a few employees? Do you plan to hire anyone in the next five years? In this section you will write about your future staff: how many people you will hire, whether they'll work part-time or full-time, what their duties will be, and where your labor pool will be (local or telecommuters).
* Business goals: Here's where you take those points you mention in the Statement of Purpose and expand on them. This is the fun part to write. Capture everything you want to accomplish with your virtual corporation so you can look back on your plans and say "I've done it!"
* Summary: The summary of a business proposal restates the introduction and ties everything together. It is an affirmation of your intentions. After you get through everything that comes before it, you'll probably know more about your business goals than when you started out, and your summary can reflect that new knowledge.
* Financial data: Unless you're an accountant, you probably won't enjoy this part-but if you can make financial plans for your business, you'll be in much better shape down the road. If nothing else, calculating your income projection for the next few years will help you determine the best areas to concentrate the funds you allocate for business purposes. In the resource section at the back of this book, you'll find some references to materials that will help you create income projections and balance sheets for your virtual corporation.

Thought for today: Fighting for ... ?

A man will fight harder for his interests than for his rights.

Napoleon Bonaparte

If you don't have a dedicated room, there

If you don't have a dedicated room, there are things you can do to minimize the noise level in a place where other activities are likely to occur. Try to choose a location away from wherever the most household traffic occurs. If possible, put up folding screens or hang curtains from the ceiling to delineate work space from home space. And if background noise is completely unavoidable unless you're prepared for a call, set up a professional voicemail service or answering machine and stress on your greeting that calls will be returned promptly. That way, you can check messages frequently and arrange for a distraction-free return call.

A cell phone can end up as your business' lifeline

The Importance of Being Earnest-Er, Organized

Because you are entirely responsible for your business, it's up to you to keep track of things. That means organization is essential. There is nothing worse than completing a big project, then walking away from your workspace and returning to discover you have no idea what you just did with it-and the client expects it in an hour. Additionally, keeping your work area clean and coordinated saves you a huge amount of time in the long run you'd otherwise spend hunting down misplaced files or phone numbers scribbled on Post-Its.

Like other integral virtual corporation skills, organization is a process that improves with practice. If you make it a habit to keep things straightened up and stored where you can find them, it soon becomes second nature. It's a good practice to keep personal items and paperwork out of your business area (but no one would begrudge you an executive desk toy or two!). This also helps to enforce the separation of work and leisure you need to maintain.

A great rule to follow for honing your organizational skills is the One-Time Rule. This means whenever you pick up a piece of paper, whether it's a bill, an invoice, a sales letter or something you meant to add to your permanent file system, determine what should be done with it and do it right then. Never pick something up more than once. The more often you put aside things and tell yourself you'll get to them later, the bigger your "to-do" piles will become. You can also apply this rule to your e-mail. Every time you open an e-mail, decide what action needs to be taken with it: reply, delete, or keep for reference. Then do it! This technique will help you avoid ending up with 1,347 messages in your inbox with no idea what you should do with 1,329 of them.

Don't let the infinite file nightmare consume your office

You'll find more information on specific organizational tools in the upcoming section Home Office 101.

Goal setting: where will you be in five years?

What do you want to accomplish with your virtual corporation? Do you just want to earn a comfortable living without working for someone else, or do you intend to be fabulously wealthy? Do you want to carve out a niche for yourself in the herbal soap market, or do you want to be the number one global provider of herbal soaps ever to exist? Whatever your goals are for your company, constructing a concrete plan to reach them is a tremendous step in steering your business down the path of success.

SELF-DISCIPLINE* When you're in the middle of working

SELF-DISCIPLINE
* When you're in the middle of working on something, are you able to resist playing computer solitaire or checking your e-mail every few minutes?
* Do you usually concentrate on the task at hand until it's finished?
* Are there a lot of things in your life, such as exercising regularly or quitting smoking, that you've accomplished by making a plan and following through?
* Can you pass up fun invitations from friends and family when you have unfinished business to attend to and have to get it done?

PERSONAL RESPONSIBILITY
* If you hit an empty car in a parking lot, would you try to find the owner and tell them what happened?
* Do you own up to your mistakes (or at least most of them)?
* When you take on a project or task, do you consider it "yours"-even if it doesn't work out the way you intended it to?
* Are you a firm believer in the value of insurance, whether it's a policy from an insurance company to protect your ass(ets) or a written contract for an agreement between two parties (even friends and family)?
Your results: Look at your ratio of yes to no answers in each section. If you have more "yes" and "maybe" than "no" in a section, consider this area one of your strengths. If your "no" entries are the majority, these are the characteristics you should concentrate on developing. Remember, practice makes perfect!

Now that you're passionate, motivated, determined, self-disciplined, and personally responsible, let's review what characteristics your home office needs in the recipe for virtual success.

You're ready for business-is your business ready for you?

Your home office must be as open and conducive to running a virtual corporation as you are. Having a dedicated space for business is imperative, whether it's an entire room or just the corner of your living room. If you work outside the home and rent or lease space for your office, you should still apply the following tips for creating a professional atmosphere in your work area.

Your home office can be professional and comfortable!

Noise Pollution: Eliminating the Background Buzz

How fast would you hang up the phone if you called a dentist or a plumber and heard video games and barking dogs in the background? What your clients hear when they call your business plays a large part in their evaluation of your company. You don't need to invest in on-hold music to create a professional impression, but you do need to ensure life doesn't interrupt your business calls.

The best way to do this, of course, is to have a separate room dedicated to office space. Also, make sure your family and any friends that are likely to drop by unannounced know that when you're in the office, you are working and should not be disturbed. Talk with them ahead of time to avoid hurt feelings, and let them know the times you will be available for things not related to work.

HELPFUL HINT #2: If you're able, have two

HELPFUL HINT #2: If you're able, have two separate computers: one for work, and one for leisure. One of the most difficult challenges in running a virtual corporation is setting boundaries between work and personal time; more often than not, beginners blend everything together and end up feeling like every waking moment is spent working. Having separate computers helps you distinguish work from leisure in your mind, and allows you to maintain your professional side while still finding time to unwind. Do not install instant messenger programs, chat room applets or computer games on your workstation computer; save those for private time.

Personal responsibility: For everything that goes right-or wrong-in your virtual corporation, you will be the one solely responsible for it. Those who work from home must keep in mind that when problems come up, they are responsible for solving them in the most professional manner possible. On the flip side, however, you get to take every scrap of credit for jobs well done. The pride and satisfaction you can take in running a virtual corporation is unmatched.

QUIZ: Are You VC Material?

Take this self-test to help you determine where your strengths lie, and which areas you need to work on in preparing yourself to run a virtual corporation. Remember to be honest with your answers! Once you find out what you need to work on, you can take steps to instill the work habits you need to succeed in the virtual world.

Answer each question with Yes, No, or Maybe. Skip any questions that do not apply to you and your situation.

PASSION
* Do you love your current job? And if so, do you plan to start your virtual corporation in the same area you currently work in?
* If you could only work in one industry for the rest of your life, would you choose the one you're planning to start your corporation in?
* Are you able to talk fluently about what you do (or are planning to do) for hours on end? Can you do it without boring the person you're talking to?
* Can you picture yourself enjoying your job while you run your virtual corporation-maybe even for the first time in your life?

MOTIVATION
* Do you generally follow through on your ideas for hobbies or projects you'd like to accomplish?
* Are you usually able to finish things like housework, tasks at the office and school projects with your children, even when you don't feel like doing them?
* Is the reason you want to run a virtual corporation important to you? How about to your family?
* Do you want what you hope to gain by working for yourself enough to stick with it through days you end up working twelve or fourteen hours straight?

DETERMINATION
* Are you able to reply with a guilt-free "no" when asked to perform a favor or task you know you won't be able to get to in a reasonable amount of time?
* Do people generally consider you stubborn? Do you refuse to let go of the idea of having something you want (within reason) until you get it?
* Are you likely to (or have you ever) haggle with a seller at a flea market or garage sale on the price of an item you want if you consider it unreasonably high?
* Remember the old Klondike Bar commercials, where ordinary people were asked to do crazy things in exchange for a chocolate-covered ice cream bar? Imagine the prize is your successful corporation. What would you do for your Klondike Bar-is it more than what you'd do to get anything else?

Determination & Self Discipline

Determination:
If you're the type of person who gives up easily, running a virtual corporation will be challenging at best. The good news is, determination is something you can develop.

You may find that otherwise well-meaning friends and family members have difficulty understanding that even though you're home, you're working; and no, you can't run to the grocery store or dog-sit for them, nor can you enjoy a leisurely chat over coffee in the middle of the afternoon. Determination to make your virtual corporation successful will help you learn to say "no" to requests that would seem reasonable, if only you weren't working. Start out by informing everyone you know (especially those who are potential interruptions) that you are starting a business from home, and briefly explain what your job will entail.


Self-discipline:
As someone who will report only to yourself, you must keep in mind that the work will not get done unless you do it. You'll also have to deal with the temptation of distraction, especially in a virtual setting where the internet provides all kinds of lovely sidetracks that are just a click away. Most people don't naturally possess the amount of self-discipline necessary to run a virtual home-based business-but this skill is also something that can be developed. It's a case of practice makes perfect: the more often you remind yourself that you're sitting in front of the computer to work, the more natural the process will become.

HELPFUL HINT #1: Set a schedule for yourself and stick to it.
Because you are working for yourself, you have the ability to create a flexible schedule that fits around the rest of your life. Perhaps you are able to devote the hours of 9 to 5 for work. Or, if you're following the virtual model in order to spend time with your family, you may choose to work while the kids are at school, and then put in a few more hours at the end of the day, after they've gone to bed. You can give yourself weekends off, or schedule additional hours on the weekends in order to have more free time during the week.

Whatever schedule you set for yourself, the only important thing is to make sure you follow it as strictly as possible so you're not scrambling to get things done.

Thought for today: Catching lions

"No lions are ever caught in mousetraps.

To catch lions you must think in terms of lions, not in terms of mice.

Your mind is always creating traps of one kind or another, and what you catch depends on the thinking you do. It is your thinking that attracts to you what you receive."

- Gil Bailie

Are you VC-compatible? - Passion & Motivation

Let's explore the characteristics you should possess and develop in order to prosper in cyberspace.

Do you have what it takes to create a virtual corporation?

Running a virtual corporation takes an entirely different skill set and frame of mind than working at a physical location. The popular conception of people who work from home, or telecommute, is a rather skewed one: when you think of working from home, you're likely picturing a leisurely individual clad in pajamas and bunny slippers, lounging poolside with a laptop and a cool drink. This erroneous image of a glamorous freedom from responsibility, all while earning more money than you could possibly spend, has become the impetus for many disgruntled office employees and homemakers to fuel the growth of work-at-home scams.

It's not all cold drinks, pool boys and relaxation!

The reality of operating a virtual corporation is much less dazzling. Ask anyone who runs a business from home, and they'll paint a more accurate picture of long hours, endless responsibilities, and struggles with clients that would never occur in the regular business world. The VC business model is not the easiest form to tackle.

However, make no mistake: it is the most rewarding, and eventually, the most fun. And it does get easier. By arming yourself with the facts about running a virtual corporation before you begin one, you can turn a potential disaster into the best and most satisfying career you will ever have-and someday you will find yourself in the lounge chair by the pool, with a laptop and a cool drink, while everyone is asking you how you did it.

We'll start by discussing the aforementioned character traits you need to be a successful virtual corporation.

Passion:
Does this one come as a surprise? Passion may not seem like a difficult trait to come by, but it's one of the most important for anyone working from home. You are going to be spending a lot of time thinking about your business, developing your business, working on your business, and convincing potential customers to give you business. That makes your passion for what you're doing an essential element of your skill set for two important reasons. One is that you will live and breathe your product or service. The other is that when you believe in what you're doing (or selling), that passion will shine through in your work, and your customers will feel confident in dealing with you.

Motivation:
Are you driven to work for yourself? The reasons behind the decision to work from home in a virtual setting are as varied as the people who do it. For many, it is the freedom of creativity and the challenge of making all the decisions themselves that drives them away from an office setting. Some are simply tired of lining other people's pockets with the fruits of their labor. Thousands of parents make the move to virtual corporations in order to spend more time with their families. Still another great reason to work from home is the expense you will save on gas, travel time, professional attire, and takeout lunches.

Whatever your reasons for choosing to start or transition to a virtual corporation, make sure the motivation behind them is powerful enough to keep you working when the going gets tough.

Determine your motivations for running a virtual corporation right from the start:

• "I want to be here for my family," or
  
• "I'm sick of dazzling clients left and right just to make my boss look good," or
  
• "If gas prices rise one more time, I'll have to start riding a bike to work."
  

Then commemorate those motivations in physical form: make a poster, use the marquee setting on your computer's screensaver, or write it with a marker on a coffee mug. Keep your driving force on display at your home office desk and glance at it every once in a while-like after you've just argued with a client over why he should pay the invoice you sent him thirty days ago, or while you're up at two in the morning trying to put the finishing touches on a proposal. It will remind you why you're doing this, and what your rewards are.

GETTING STARTED

Like any business, a virtual corporation requires planning and preparation to be successful. At this point you may be tempted to throw up a web site and jump right in with both feet. Before you do, you should be aware that as much as 95 percent of startup businesses fail within three years, including virtual corporations-and the most common cause of failure is lack of planning.

The information in this section will help you avoid the ill-prepared trap many businesses succumb to, and get your virtual corporation off to a great start. Be sure you don't skip over any of the steps-because even though your virtual corporation can be successful on a tight budget, cutting corners can bring the whole structure tumbling down. Fortunately, planning and dedication takes the place of cash investments when building a virtual corporation.

Frequently Asked Questions

Isn't it dishonest to make my company look bigger than it is?

Not at all. Your business web site will be a reflection of your company, and as long as you plan to operate professionally (as all good businesses should), conveying that message is not only a great idea, it's a necessity.

How will creating a virtual corporation help my business?

It is difficult and expensive to build and maintain a large physical corporation. For most people, it is impossible without extensive financial backing. By creating a virtual corporation, you are maintaining a professional image that states your ability to operate just as effectively (and profitably) as those fortunate few who have the capital to invest in a business.

Giving yourself a virtual makeover allows you to grow as big as you can, or want to, without the need for a big building or an office in Corporate Park. More and more often, major companies' home bases are moving from big city concentrations and out to rural and remote areas. You don't have to live in New York or Los Angeles to run a big business any more!

I'm planning to start a business. Should I go virtual from the beginning?

Absolutely. Even if you plan to have a physical office for your business, it is difficult to succeed today without a web presence. And if you can run things without setting up a storefront, you will save yourself time and money while taking advantage of the latest cutting-edge methods big corporations use to reap profits and outdo the competition.

Don't I have to know a lot about computers to start a virtual corporation?

It helps to have some knowledge of computers, or at least possess basic internet use skills. Fortunately, however, you don't have to learn HTML programming or how to install a new hard drive before you can begin your virtual corporation. If you're new to the virtual world, the resource section at the back of this book contains listings of several books and free classes you can take to develop the necessary computer skills in no time.

NOTE: Though this book focuses on building a virtual corporation in a home office setting, the techniques and strategies outlined are also applicable to small businesses run outside the home. Any company will benefit from the information presented here as an inexpensive, easy-to-implement solution for transforming your business to a dynamic entity in the online world.

So, are you ready to start building your virtual corporation?

The sky is the limit!