Doing research
Market research is one of the most valuable things you can do for your business. Find out if there's actually a market for your product or service, how much you can expect to sell, who your competitors are, who your customers will be and your unique selling points (USPs) - and how they could reach your business. Talk to everyone you can, read relevant books, look online and explore your market.
1. Market research is invaluable for your business
2. Establish your market and competitors, your customers and your USPs
3. Talk to as many people as possible

Starting to make calls
Start making contact with businesses you plan to use as suppliers, manufacturers, and retailers - everyone you need to make your business work. Ask for quotes, negotiate and meet with different people to identify which companies will suit you and your business best. Establish how your pricing structure will work, your revenue forecasts and your profit margins. Make sure you know the specifics.
*Start building contacts
*Figure out the financial details
*Make sure you know the specifics

Mapping it out
Once you've started your research, start planning the specifics: how your business will work and what it will require. This will mean drawing up a budget, a detailed business plan and revenue forecasts, thinking about where your business will start, what its routes to market will be and who will help. Aim to map out the next twelve months, month by month. If you're applying for bank finance, you need all this documentation in place for a chance of getting it.
*Map out the specifics
*Draw up your business planning documents for the next twelve months, month by month

Telling people
New entrepreneurs tend to take one of two routes when they have a new business idea - tell everyone or tell no one. We advise telling everyone - you'll be surprised how many people you know who can help in some way, whether with money, advice, support, creative input, or contacts.
*Tell everyone you know - they're all potential business contacts

Setting up a website
Setting up a website is the easiest way to get your business off the ground. It helps you explore your market and demand for your product before investing huge amounts money and time. It can also be a good PR tool when you're telling people about your business - even just a couple of pages can provide the kind of details you may not have time to explain when you meet someone in person. A website is also allows you to work on it only and whenever you have free time - unlike other forms of new businesses.

*Helps you explore your market before investing
*Good PR tool
*Allows flexible working hours

VIDEO RESOURCES
Working from home is very often the best place you can start a business. Home businesses mean you don't have to splash out on or commit to expensive property leases before you've tried your start-up and business model out. Plus, you get to enjoy the comfort of your own home while you work!

The Smarta Network [www.smart.com] interviewed some of the UK's top entrepreneurs to find out about their experiences of working from home, and to get their home business advice.

Hear from Doug Richard of Dragons' Den and School For Startups, Karen Hanton of Toptable, Kiss FM and Winkball founder Gordon Mac, Pure Package founder Jenny Irvine, Magic Whiteboard's Neil and Laura Westwood, Bradley McCloughlin of Trading4U, Alexandra Finlay of Fin's, SuperJam founder Fraser Doherty and Daisychain Baby's Lindsay Drabwell.

Watch their Business Advice Video resources by following this link;
http://www.smarta.com/advice/premises/working-from-home/10-entrepreneurs-give-advice-on-how-to-start-a-home-business.

Courtesy of Smarta.com(c) 2010