There’s no question about the many benefits of writing a book and becoming a published author. Writing a book gives you instant credibility with clients and prospects, solidifies your expert status and builds your personal or corporate brand. In fact, studies indicate that, while more than 80% of the population wants to write a book, only tiny 2% will ever actually do it! Why? Most aspiring writers cite lack of time, lack of focus or lack of knowing how to physically undertake such an ambitious project.

Enter ghostwriters. No longer those shadowy figures lurking behind the scenes, ghostwriters today are experienced professionals who help aspiring authors write the book of their dreams. These writers and journalists work with their “authors” for months at a time to make sure their book gets written right. Most executives call upon ghostwriters to write for them simply because they don’t have the time or resources to do it on their own.

The price and quality of ghostwriters span a wide range. Like anything else in life, you usually get what you pay for. You can take your chances and try to find a low-priced freelance writer on Elance.com, but you’re far better off trusting your project to a pro who comes recommended from a trusted source or referral. That said, you can expect to pay a good ghostwriter upwards of $50,000 for a full-length, non-fiction business book.

The writing process can take 4 – 6 months to complete your manuscript, but good ghostwriters also serve as an advisor during the process, making sure that you’re project stays on track and is ultimately marketable. However, most ghostwriters rarely get involved in the actual publishing process.

Ultimately, your book is only going to be as good as the material and creativity you provide to your ghostwriter. You’ve got to stay engaged in the process and provide ongoing feedback in order to end up with the book that you envision. Still, with weekly meetings and timely feedback, the process can go smoothly and quickly.

Remember, not all writers are created equal. Look for a ghostwriter who is professional, dependable, collaborative, discreet, easy to work with and not afraid to tell it like it is. Find the right fit and you’re on your way to becoming one of those elite 2% who actually write their book!

Lou Bortone is an award-winning writer and video producer with over 20 years experience in marketing, branding and promotion. As an online video expert, Lou helps entrepreneurs create video for the web at www.TheOnlineVideoGuy.com. In addition, Lou works as a freelance writer and professional ghostwriter, with a ghostwriting site at www.GhostwriteForYou.com and a blog at www.GhostwriteGuru.com.

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OnStartups: Chances are, if you're reading this article, you are either involved in a startup already, or looking to be involved in one.

This article is for the folks in the latter category, the "wannabepreneurs". The ones that have always wanted to be entrepreneurs, but haven't quite gotten around to it. The folks still slogging it away in BigCo land waiting for the "right" entrepreneurial opportunity to come along.

Here's my advice: Stop Waiting!

If you've got a passion for startups, you need to be in a startup. Either run with the best idea you have and start your own thing (even if the idea sort of sucks), or join the best people you know that are already doing something. Just get out of the daily slog that is most big businesses. Scratch that itch.

Be an entrepreneur, not a wannabepreneur.

Here are a few quick points to help convince you:

1. You're probably overestimating the risk of leaving that BigCo job. Chances are, that sort of job (or something awfully similar) will be there a year from now if things go miserably.

2. Though nothing compares to doing your own thing, joining a startup team is not bad either. It's a great way to dip your toes in the water. Often, half the battle is just getting out of your comfort zone and being around startup people.

3. Regardless of what your risk tolerance is, you can likely still find opportunities that are more entrepreneurial than what you're doing now. There are startups with really high risk, with nothing but a dream and a developer (or two) all the way to startups that have raised several rounds of funding and are on the IPO path. You should be able to find a startup that meets your risk profile.

4. Unless you have some compelling evidence that things are going to get easier later to do something more entrepreneurial, chances are, they're not (going to get easier). So, if the question is when, not if, then ask yourself "why not sooner, rather than later?"

5. For those that are thinking: "Yeah, this is all easy for you to say, you're not walking in my shoes", I say this: You're right. If you truly don't have the situation or circumstances to take the leap, that's ok. I just implore you to at least think about it and decide for yourself whether your obstacles are real or perceived.

I'll close with a quote that's been on my list of favorites for a while:

"Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable." -Sydney Harris

Taking The Leap: Don't Just Be A Wannabepreneur [OnStartups]

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There are only so many hours in a day and working on your own as a solopreneur means that if you want to really grow your business you either have to find a way of going without sleep, or expand your team!

Personally, I prefer the latter! And this is what I’ve been doing recently too. My web host takes care of anything technical for me related to my website, and over the summer I partnered with a bookkeeper so that she could take over this area of my business for me! It’s made such a difference being able to hand over a large area of my workload to someone else.

So how can you ensure that your new-found team all work together and provide the best possible support for you and your business? Here are my top three tips:

1. Create a Team Directory. List your virtual team members with their name, role, email, telephone number, website, and job description and circulate it amongst everyone on your team. That way everyone will know who is doing what and can go directly to the appropriate team member with questions rather than have to go through you.

2. Schedule in a Weekly Call. This would be the equivalent of an office staff meeting, but you can do this virtually using a teleconference service. There are many services available and a lot of them are free, you just pay for the call at your end. This is a great way to stay in touch with your team.

3. Encourage communication between team members outside of the weekly call. Set everyone up on a Yahoo group or instant messaging service so that they can communicate with one another and get your projects done.

With my clients as well as having a weekly call we utilize a wonderful virtual office service that lets us upload and share documents, centralize our contacts, allocate tasks, and maintain our calendars. Members of our ‘team’ can also communicate with one another via a forum, and we can also hold team votes!

So if you’re finding that you’ve reached a plateau in your business, and you enjoy getting your nightly sleep! follow my advice above and expand your team.

Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

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Younggogetter: This post written by Ryan, an entrepreneur, who, writes about relationship marketing, eCommerce, and other elements of business as it relates to Generation Y, on his blog, Ryan Stephens Marketing, outlines 3 reasons why you should skip obtaining your MBA.

Reason #1: It’s about PEOPLE — not rules, theorems, and formulas.

Being a great business person, or a great marketer is about connecting with people; it’s about building and solidifying relationships, and it is about making your brand a Lovemark. Managerial Cost Accounting doesn’t help you do that. I do not want to spend my life tucked away in a cubicle (or an office), but out on the streets interacting with and learning from consumers. What do they really want? How can I facilitate our relationship by providing them with the solution they are looking for?

What theorem teaches me how to do that? When you start seeing your business as a business of margins you are in danger of becoming a commodity. You can learn all the strategies in the world to get attention for your business, but what do you do when you get it? Is it sustainable? Learning about the people, your consumers and what they want enables you to thrive and consistently answer these questions. A piece of paper that dictates how well you ran regressions does not.

Reason #2: I’d rather build my network via Happy Hour and other events.

One of the reasons people decide to get an MBA is because it is a great opportunity to meet other ambitious people, and when one of them gets wealthy, they might hire you one day. But seriously, most good programs ensure that you get to hear some great speakers, work in groups with some talented peers, etc. and this is a valuable experience.

All I am saying is that I would rather do it at happy hour. Chances are you are working with some brilliant people right now. Maybe they fill stifled by their career, maybe underneath their rule-following, drone-like performances in the office they have brilliant business ideas that just need a little social lubricant to come to the forefront. I have had some great conversations with some really intelligent people at Happy Hour. I suspect it is because we do not feel confined by the rules of corporate America, but free to dream big, and showcase our passion for unique business approaches.

Aside from all of that, there are a lot of great people who will communicate with you if you make the effort. Is the CEO of Proctor and Gamble going to have lunch with you? No, the odds are not likely. However, if you contact someone in a company and tell them you respect the work they do (provided you have done your research and know what that is), and would like their advice concerning that particular field, job, etc. you would be surprised how many people would accommodate you.

Most people are nice people. Most people like helping other people. Build your network from the ground up. Just because a CEO comes and talks to your class does not mean he’s going to answer your email that you sent the next day. Take networking into your own hands.

Reason #3: I’m in too much of a hurry to waste time getting an MBA, when I could read some great books in one summer and get a very similar education.

For most MBA programs you need a few years work experience so by the time you work, then come back, then get the MBA, that’s approximately 5 years you could have been in the workforce, unleashing your ideas on the world (or at least trying to). And that’s my vantage point. I like to think of myself as an entrepreneur anxious to get out into the real world and to start making things happen.

Give me Keith Ferrazzi’s Never Eat Alone and I’ll learn about relationship marketing. Give me Kevin Roberts’ Lovemarks and I’ll learn about the future of branding. The point is a couple of good professors, business people, or bloggers could provide me with a list of great books I need to read. I could read one every other day or so and get a lot of the same education I would get in an MBA program.

Perhaps I do not get the actual experiences in terms of practicing presentations, but what better way to practice than to be giving presentations for my own company or whomever I am working with. Grades honestly do not matter that much to me anymore (I know, I know – you freak out if you don’t maintain that 4.0) but aside from obtaining higher education or that first job, when do they really matter ever again?

My aim is not to discredit or to diminish the idea of an MBA degree. I will freely admit that they can potentially accelerate your career path and provide you with a great opportunity to meet some phenomenal people and obtain some phenomenal opportunities in the process. All I am saying is that they are not the necessity that so many people believe them to be.

You can save all the money and invest your time emotionally connecting with people. You can build great relationships and hash out lucrative business ideas over a drink (or other social event), and you can obtain a solid education by reading best-selling business books by brilliant authors that probably know a lot more about that particular subject than your professor. I would say that is three pretty good reasons to skip getting your MBA.

3 Reasons To Skip Getting Your MBA [Younggogetter]

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Business Know How, by Stacey Mayo: Here are 10 of 26 proven strategies gleaned from interviews with highly successful people who have overcome obstacles to accomplish such feats at climbing Mt. Everest, winning a Grammy, becoming a multi-millionaire, becoming an established author and humorist, a professional pitcher in the Major Leagues, an internet entrepreneur who earns millions and more. Regardless of your career or industry, when applied, these success principles can shorten your learning curve and be a catalyst for your success.

1) Create Wealth in Alignment With Your Passions

It is important to focus on what you are passionate about first and then find a way to make money at it. Get in touch with your heart first, otherwise, the left side of your brain will rule out perfectly good ideas without having explored them.

2) Honor Numero Uno: Design Your Life Around Your Priorities

Many people try to fit their dreams into their life and complain there are not enough hours in the day to make it happen. If you want your dream to become a reality, make it a priority. Otherwise, it will never be more than a pipedream.

3) Visualize Every Step of Your Dream and Watch the Magic Unfold

The muscle movement that helps us physically take action in our lives begins in the mind. That is why all great golfers, tennis players, basketball players, etc. visualize themselves making a shot beforehand. An experiment conducted by Alan Richardson, an Australian psychologist, found 23% performance improvement among subjects who visualized every day for 20 days. In his paper published in Research Quarterly, Richardson wrote that the most effective visualization occurs when the visualizer feels and sees what he is doing.

4) Easy Does It: Inspired Action Always Trumps Forced Action

Inspired action is joyful action that is in alignment with your dream. It is action you want to take and the idea of it brings a smile to your face. When you take inspired action, you are aligned with what you are doing and things flow naturally.

5) Laser in On One Idea, Business or Income Stream at a Time

One of the mistakes people make is diversifying too quickly. This is true whether you are trying to build multiple streams of income or are just working on several different ideas at one time. The key is getting the first stream or idea up and running, producing good revenue, and having systems in place so it will keep running without you before going on to the next unrelated stream.

6) Strengthen Your Relationships: Your Financial Independence is Dependent on Your Connections With Others

Many people think of the day when they will be financially independent as “freedom day.” And, while financial independence is a worthwhile goal, it does not mean that you are free of your dependence on other people. As a matter of fact, in order to create financial independence, you just might need a lot more people in your life than you have right now.

7) Develop Your Resilience Muscle: Bounce Back From Setbacks

The truth is that you will have setbacks along the way. This is just inevitable. The sooner you accept that, the better. Many of these setbacks will take the form of circumstances that come up and block your way. If you look closely, you may find these setbacks are directly correlated with your innermost thoughts, fears, and limiting beliefs. This is because we create what we focus on including those things we don’t want.

8) Streamline Your Efforts; Align Your Natural Talents With Your Goal

Success comes easier and more quickly when you enhance your strengths and delegate in areas where you are weak. Your natural talents are those things you do so easily and naturally that you think they are no big deal. Many of my clients were overlooking their natural talents when they first came to me. They thought if it is this easy for them, it must be this easy for everyone. This is rarely the case.

9) Disarm That Sneaky Inner Saboteur

Even when we know what we need to do, we often don’t do it out of fear of experiencing the emotions and other things that may come up as a result. Fear of failure and fear of success are the two biggest internal fears that people often face. Most other fears such as fear of rejection fall underneath one of these major categories.

10) Shorten Your Learning Curve by Learning From The Best

You can learn from the people who are barely getting by, from those who are doing fairly well or from those at the top of the heap. Talk to people who are already successful and find out how they did it. That’s what the book, “I Can’t Believe I Get Paid To Do This!” is about. Its purpose is to provide success principles and philosophies from those who have excelled. They’ve already been down the road and you can learn from their experience. Why reinvent the wheel when someone else already did a great job of creating it?

Top Ten Strategies For Becoming Uncommonly Successful [Business Know How]

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You'll pay too much in taxes if you don't understand that cash in minus cash out does not equal profit.

This is the most important thing you need to know before you start keeping records for your business...cash in minus cash out does not equal profit. It simply equals cash left over. Or, in many cases, it's a negative number, so it equals cash you owe somebody.

What this means is that you'll need to understand the IRS rules and keep your records according to those rules so you report your profit correctly and take (and be able to prove) all the deductions you're allowed to take. Because you want to pay the least amount of tax possible, right?

The way you'll need to keep your books will be different depending on whether your business is a sole proprietorship, a partnership or a corporation. The rules for calculating income and deductions (and therefore profit) and the forms used for reporting to the IRS are different for the different business types.

What counts as income? Most or all of the money you take into your business will count as income. This includes fees for services and/or product sales.

But not all the cash that comes into your business counts as income.

If you get a rebate for a purchase you made at your local office supply store, that's cash in, but it's not income. It's a reduction in your supplies expense.

If you get a refund of part of your insurance premium at the end of the year, that's cash in, but it's not income. It's a reduction in insurance expense.

If you borrow money (and it doesn't matter if it's from your brother or the bank), that's cash in, but it doesn't count as income.

What counts as expenses? Most of the money you spend for your business will probably count as expenses. This includes advertising, postage, office supplies, and similar items.

But not all the cash that goes out of your business counts as expenses.

When you buy business property like cars, computers, and furniture that will last longer than a year, you're not allowed to deduct their entire cost as an expense in the year of purchase (except in special circumstances).

These items are called capital assets. Sometimes they're referred to as fixed assets.

You have to depreciate them over several years. Basically, depreciation is a process of spreading the cost of an item over its useful life.

You might have cash of several hundred or thousands of dollars go out the door when you purchase fixed assets, but you can't deduct the entire amount of the purchase price as an expense when you buy them.

Some things that your business pays for might only count as partial expenses. An example of that is business meals and entertainment where you can only deduct half of the cost.

That doesn't mean that your business can't pay for 100 % of the cost, but only that you're limited in the amount of the tax deduction you can take. This is another example of cash out that doesn't translate directly to expenses.

Some things your business pays for might not be tax deductible at all.

An example of this would be a contribution to a Political Action Committee. That doesn't mean that the business can't pay for it, just that it's not a deductible expense on your tax return.

Some more examples of cash that goes out the door that doesn't count as expenses are: draws for sole proprietors and distributions for partners or S corporation shareholders.

There's also one type of expense that can be more than the amount of cash that the business actually spends. It's the home office deduction that some sole proprietors can take.

So you see why it's so important to understand that cash in minus cash out does not equal profit.

Unfortunately, the IRS rules and regulations don't always make logical sense; they might seem complicated and unfair. One thing is certain. They are the way they are, so we have to deal with them. Learn what you can. And get help when you need it.

Sheryl Schuff, CPA, is a Certified Public Accountant, author, and consultant who teaches entrepreneurs how to get their businesses organized, keep good accounting records, and maximize their business tax deductions. She is President of Schuff & Associates, PC and has been in private practice for over 30 years. She recently started an information products company www.TaxesForSmallBusiness.com to provide individual training materials for small business owners.

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Young Entrepreneur: After polling our Young Entrepreneur readers, here is our list of the top 20 mistakes that startups make when creating a new business. I’ve also included a few of the comments that were left for some of the top points.

#1: Not Having a Clear Plan or Vision

“The biggest mistake people make is not looking far enough ahead in your market. So many businesses are losing ground to new technologies as example, so think ahead on how to better utilize these new technologies. With the current recession, how many planned for it? Every business will go through cycles of growth and market demize, just as we are all now seeing, so again, think ahead, have vision beyond today is one of the keys to success.”

#2: Surrounding Yourself With People Who Don’t Believe In Your Idea

“Another mistake would be surrounding yourselves with people (whether by accident or because they’re family, etc) who don’t believe in your idea. You need to be around positive feedback all the time.”

#3: Not Having Enough Money

“I think this is big for those businesses that have the incentive to only reap the benefits and not focus on the longevity of your venture. Taking out $10k now may prevent making $100k in a few months. Mindsets should not be “Yeah I own a buiness I make this much” but rather “Yeah I own a business, we invested in XYZ and were able to afford this new service/expand here/etc” Also, too many people plan on the basic expenses of starting up, and don’t think about the increased expense that come with a more successful, growing, developing business.”

#4: Doing It All Alone

“Lots of CEO personalities think they have to be the answer to all problems, and this is not the case. Their pride and mindset of “I must live up to this role” is skewed and they may fail to tap the most important and valuable resources that surround them in their management team and affiliates.”

#5: Not Seeking Mentors

“I think having a mentor - a much more experienced entrepreneur that can give you some valuable advice is so IMPORTANT…especially when you are a young and overly ambitious… and with so many challenges to meet on the way to success.”

#6: Losing Momentum

“Being satisfied and content with functioning can lead to “big headedness” and false hope that it will always be this way. You need to constantly improve your product/service, research your around-the-clock changing market and competition, and promote innovation and forward progress amongst your management and team.”

#7: Not Marketing Your Business / Expecting People To Come To You

“A few mistakes that I personally made was the lack of focus on a targeted marketing plan, and the miscalculation on future expected growth.”

#8: Not Looking At Your Competition

“I think it is a big mistake to start a business without really understand the market.”

#9: Being Overly Enthusiastic and Not Having Realistic Goals

“A few mistakes that I personally made was the lack of focus on a targeted marketing plan, and the miscalculation on future expected growth.”

#10: Not Thinking Survival

“Too many people think that so long as everything is done “textbook” and they have the proper set up, and plans down on paper, that they will succeed. Also, many people have the idea that it is easy to keep it up after they get an initial consumer base. Not true. small businesses are small fish in a big pond, constantly competing against emerging and growing bigger competitors that have the backing, both monetarily and resourcefully, to push them out of the picture.”

The remaining 10 common startup mistakes are:

* Doing It Just For The Money
* Not hiring right away
* Getting to year 1, past year 2
* Not getting involved in the community
* Working in your business instead of on it
* Going wide instead of deep into a niche
* Not using email marketing
* Having a lack of ambition
* Failing to network with others
* Growing too quickly

The Top 20 Startup Mistakes - Entrepreneur Poll Results [Young Entrepreneur]

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When most small business owners think about taxes, they think about Federal income taxes. But there are other taxes that I want to let you know about, so you’re not surprised if you have to pay them.

The first is self-employment tax. If you’ve ever worked for someone else, you know that social security and Medicare taxes get deducted from your paycheck. When you’re self-employed, you don’t actually get a paycheck.

Here’s what happens if you’re a sole proprietor. Following the IRS rules and regulations for calculating income and expense, you report your results for the year on your personal 1040 by filling out Schedule C.

Then you take the net profit and put it on Schedule SE for self-employment tax. After a small deduction, you calculate 15.3 % as your self-employment tax. This is double the rate of 7.65 % that’s deducted from employee paychecks because as a sole proprietor you’re both the employer and the employee so you have to pay both parts.

You get to take half of the amount of self employment tax as a deduction from your income on the front of your 1040. This has the effect of reducing your taxable income.

The self employment tax itself goes on the back of the 1040 in the section called Other Taxes on the line that says self employment tax. For the 2006 filing year that was line 58. This tax gets added to your Federal income tax and any other taxes you owe and is paid when you file your 1040.

If you (and/or your spouse on a joint return) have had Federal income tax withheld during the year that adds up to more than your total taxes for the year (which includes self employment tax), you’ll still qualify for a refund.

If your business is operated as a corporation AND you’re active in your business, you should receive W-2 wages and you won’t be subject to self employment tax on your earnings. Distributions from S corporations are generally not subject to self employment taxes.

If your business is operated as a partnership, you might have some items of income that are subject to self employment tax and some that are not. These items will be reported to you on a schedule K-1 that is part of the business tax return.

Sales tax

Many States have sales taxes. If you sell products to customers, you’ll have to charge them sales tax and pay it to the State. In some cases, digital downloads are considered products as far as the sales tax rules are concerned and certain services might also subject to sales tax. In Indiana, where I live, the rules are put out by the Indiana Department of Revenue. There will be a similar agency in your state who you can contact to find out the rules.

Local Taxes

Some cities and school districts have local taxes that you might have to pay. Some of these depend on your type of business. There might be additional sales taxes, property taxes, innkeeper’s taxes, or food and beverage taxes. Check with the authorities in your area for details.

And then there’s the often dreaded Estimated Taxes

This is a subject that confuses many people.

First, let’s try to understand the reason that the estimated payment system exists. Our system of Federal taxes is a “pay as you go” system. When you think about it, that makes sense. The government needs money all year long to pay for various things.

When you work for someone else, taxes are withheld from your paycheck each pay period, so the government gets its money over the course of the year. If you’re a sole proprietor, this doesn’t happen, so you’re expected to make estimated payments.

As with many IRS rules, there are some exceptions, and some penalties if you don’t pay enough or pay on time. There are some cases where you might not be required to make estimated payments (and you won’t have a penalty if you don’t), but it would still make sense to make them anyway, to avoid having to pay a large amount on April 15th.

If you have another job in addition to your self-employment, you can increase your Federal withholding on that job to cover the amount of the estimated taxes that you would otherwise have to pay. And if you’re married and file a joint return and your spouse has wages from another job, he/she can have additional Federal withholding taken out to cover the estimated payments.

Or, you can make quarterly payments using Form 1040-ES. You can also sign up to make the payments on-line. You might also need to make estimated payments towards your State taxes.

Payroll

If you have employees, you’ll need to pay various Federal, State, and local payroll taxes. But we’ll have to save that conversation for another time.

The most important thing you need to understand is that it’s your responsibility to find out what taxes your business has to pay. And that the laws vary from place to place and by type of business.

A good source of information is an accountant who specializes in consulting with small businesses.

Sheryl Schuff, CPA, is a Certified Public Accountant, author, and consultant who teaches entrepreneurs how to get their businesses organized, keep good accounting records, and maximize their business tax deductions. She is President of Schuff & Associates, PC and has been in private practice for over 30 years. She recently started an information products company www.TaxesForSmallBusiness.com to provide individual training materials for small business owners.

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Dorm Room Biz: Money. It’s what every college student wants and what every college student lacks. You can save up all summer and it is sure to be gone by Thanksgiving. Or, more likely, Columbus Day weekend. There are tons of ways students can earn money online and keep up with the trust fund kids. Here a few:

1. Teach the computer illiterate. Do you know your way around a computer better than you do your school’s library? Branch out your services to those who think a click of the mouse means their vermin troubles are gone.

2. Help others set up their computers. Many people have computers but often incorrectly install their new machines or aren’t aware of the upgrades their systems offer. It can also be as easy as making sure they’ve got everything plugged into the right outlets.

3. Join the blogosphere. Does everyone tell you have great ideas? Or maybe just you think you have great ideas. Either way start your own blog and if you’ve got something to say that people want to hear then the advertisers will be eager to be seen on your site.

4. Create and update webpage designs. Every company now wants to and needs to be on the web hocking its wares. If you’ve got experience creating webpages then your services will be in high demand.

5. Join an online auction. eBay is the place on the web to sell anything from your prized possessions if you’re really in a bind or maybe old baseball cards for some extra cash.

6. Help others join the digital music age. The old record collection doesn’t have to lie in dusty heap anymore and, if you have the little equipment needed, you can help transfer these old classics to a digital library.

7. Clean up computer messes. Computers are constantly being ground to screeching halts by viruses and spyware these days. Computer users are eager for help cleaning up their systems.

8. Scour the internet for lost records. Scan the internet for background checks for employers or track down old classmates for clients.

9. Sell the next hot .com name. Selling domain names may sound passé as it seems all the good ones are taken, but with new .tv or .info domains emerging the possibilities are endless.

10. Be a photographer. With digital photos taking the place of the old family scrapbook, computer savvy individuals are in high demand to help computer illiterates in this new direction.

10 Best Ways for College Students to Make Money Online [Dorm Room Biz]

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The US Tax Code can be pretty rough on the self employed. It often seems to be written to favor big corporations over small and solo businesses. The rules are often complex and confusing for the average self employed individual to grasp, even with the help of an accountant. And that first paycheck can be a shock when you realize how much of it is eaten up by self employment taxes!

Even when tax breaks are available, figuring out if you qualify and then having all the right paperwork in place may make those deductions seem like they aren't worth the hassle! For instance, if you have a home business, i.e. you work out of your house, you may be able to deduct for a " home office" -- but the requirements are strict, and can be a trigger for an unwelcome audit. Mileage reimbursement is a little more straightforward, until you realize you have to write down every trip, its' length, who you met with and what you talked about! And not many new business owners even remember to keep track of startup expenses, much less understand how depreciation works, without the help of a good accountant.

There is one tax provision, however, that is clearly worth the trouble: a Section 105 Medical Reimbursement Plan. This can save you, quite literally, thousands of dollars a year. You must be married and able to legitimately employ your spouse at least part-time in your business in order to qualify. If you are and you can, read on -- your heartburn over outrageous health insurance premiums and skyrocketing medical expenses may be about to go away!

Here's the bottom line: with the requirements met and the proper paperwork in place, you can:

• Deduct 100% of your family health insurance premiums
• Deduct 100% uninsured family medical and dental expenses
  
• Save a huge chunk in federal, state, and self employment taxes!
  

How do you qualify? You must have a properly documented employment agreement with your spouse, and the work performed and salary must be reasonable. Complete records of the premiums and expenses and their reimbursement are required. Ugh, more paperwork...but help is on the way!

I've been very impressed with the BizPlan/AgriPlan Section 105 Medical Reimbursement Plan, offered by TASC (Total Administrative Services Corporation). Recommended by a colleague (who saves several thousand dollars every year with this plan), I've found TASC to be a very professional company that takes its obligations to its self employed customers very seriously, including offering a tax audit guarantee. And the annual cost is very reasonable, starting at under $200.

Don't wait -- you can only deduct expenses that occur in or after the month you apply for the plan. Consult your accountant, and check out BizPlan today, for maximum tax savings this year!

Terri Zwierzynski is a self-employed business strategist and marketing consultant to solo entrepreneurs, and a grassroots promoter of the solo entrepreneur lifestyle. She runs Solo-E.com, the resource website for the self-employed which attracts thousands of solo home business owners monthly from over 100 countries on six continents (and was recently named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.

Find more articles about Email Marketing at Solo-E.com, plus get a copy of our new ebook, "25 Surefire Ways to Capture More Clients, Get More Done in Less Time, and Make More Money -- in 90 Days or Less."

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When you have systems in place your mind is also clear because you’re not feeling overwhelmed; instead you feel organized and calm, knowing that everything is taken care of and the systems are running smoothly. This allows you to focus on your clients and your other income generating activities. Your creative juices flow and you can begin developing additional streams of income.

Therefore running an efficient and streamlined business is all about continuously improving and 'tweaking' your office management systems so that they grow with your business and not hinder your business.

But why do you need efficient office systems in place? Here are some answers!

# To quickly and easily find important contact information.

# To be able to respond to client's requests straightaway.

# So that you can immediately submit a proposal. To keep track of your business.

# To be able to follow-up with clients and contacts.

# So that you can stay on track with your projects.

# To monitor your latest marketing campaign.

Sometimes though problems don't become apparent with your office management systems until you actually start using them -- and then you may find out that they're not working in the way that you'd hoped.

So what can you do about it?

Step #1 Look at where the problems are.
Are you constantly searching around looking for an email address? Or cannot tell at a glance if your project is on track? Or you don't know your cashflow situation?

Make a list of where you feel the problems are, and then follow step two - you may be surprised at what you discover!

Step #2 Analyse what percentage of your time is being spent on administrative tasks.
Keep a diary for a week of how you are spending your time. At the end of the week look it over and see what percentage of your time is being spent on these jobs. Could this time be better spent on income-generating activities? Or market research?

Step #3 Compile a list of all non-income generating tasks that you currently do.

Could some of these be delegated? Would it help if you took on an assistant? Perhaps now is the time that you should start to think about partnering with a Virtual Assistant so that you can grow your business, and this list will help you determine where you need the support.

Once you have followed these 3 steps you should have a good idea of where your time is being spent, what your biggest time drains are, and where you can make improvements. You will be well on your way to deciding if you need to partner with a Virtual Assistant and will be able to see exactly where you need the support.

Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

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Not long ago I took a trip to Tuscany and spent a week in a cooking class. Before the trip I spent time researching my options. I wanted to know who would be teaching the class, what courses and dishes would be covered, how hand-on the class was, if wine-pairings with the dishes would be addressed and if the class included trips to the local farmer’s markets to select fresh produce. Finding just the right cooking school was important to me because I would be spending a significant amount of money traveling to Italy and I wanted my experience to be well worth my time and effort.

For a woman interested in buying a franchise, evaluating the training a franchise business offers should involve even greater research – after all, this is about your future – not a vacation.

As part of your due diligence when researching a franchise opportunity, find out everything about the training a franchise system provides. A good training program should cover not only the product or service but also setting up the business, marketing, employee management, business procedures, reporting, etc.

The best way to find out about the scope of the training program is to ask existing franchisees. Find out what stood out about the training they received and what they feel could have been covered more completely. Ask them how prepared they felt when they opened their business and what ongoing training they have been provided.

Keep in mind that the franchisees you talk with may have been through various versions of the training program. Problems that existed at one time may have been fixed. Or, you may find that a training program that was fine in a company’s early days is now out-of-date. Be sure to include in your research franchisees who have had the same training you will receive to get an accurate assessment of its value.

Ask current franchisee if they received a training manual and if the information is updated periodically. Also ask if the franchisor offers other training resources such as conference calls, webinars or intranet sites. Ongoing training is important for many companies who adjust their business with changes in the marketplace. If this applies to the business you are reviewing, find out what they do to keep each franchisee up to speed.

An addition source of training may come from periodic conferences held by the franchisor. Besides providing additional education about the product or service, conferences offer franchisees an excellent opportunity to connect and network with other franchisees in the system. A network of peers is one of franchising’s invaluable resources so be sure to ask if this is an opportunity the franchisor provides.

Although this is less of a problem today than in the past, some industries may have an “old boy’s club” mentality among franchisees. You will be able to tell by reading the UFOC if there are other woman franchisees. Include some women in your due diligence calls so you can get an idea of the business culture and the prevailing attitude towards woman franchisees.

Many franchisors will have field support personnel who are available to be at your site during your grand opening and at periodic intervals during your first year in business or longer. Having someone right there to answer your questions may help calm your first-day jitters so find out if this a serviced provided by the franchisor.

If, after your franchise investigation process is completed, you don’t feel the offered training will adequately prepare you to run your new business, it’s time to step back and look at other opportunities. As reported in the August 2006 Franchising World magazine, a recent study by FRANdata found nearly 2500 franchise concepts in 18 different industries and almost 900 of these concepts were started over the past three years. You don’t have to compromise – if one company does not have the training you are looking for, there are sure to be many other companies who can meet your needs.

I’m happy to report that the cooking school in Tuscany exceeded my expectations and I left there able to prepare a number of authentic and delicious Italian dishes. Had I not researched the available schools so thoroughly, I might have been very disappointed with my choice.

To get full value for your investment in a franchise business, the training should answer all your questions and set you up as a confident and successful owner.

Franchisee training should include:

• Everything you need to know about the product or service
• Everything about using/protecting the brand
• How to find your business location
• How to negotiate a lease
• How you complete the permits and buildout
• How to find, hire and manage employees
• How to market your product or service
• How to keep books and records for the business
• The reporting requirements and processes
• Where to get the equipment needed for the business
• How or where to buy supplies and inventory
• How to get help when you have a problem

Kimberley Ellis is the President of Bison.com, a leading online resource for franchise and business opportunities. She has been quoted as an industry expert in USA Today, Wall Street Journal and a variety of local and regional publications regarding trends in business and franchising. Kim combines her entrepreneurial spirit with a diverse background in marketing and operation to help others succeed in franchising.

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Passive Revenue. The words jumped off the website page and hit me like a thunderbolt! I thought I even heard angels singing. It was the golden idol; the Holy Grail. My heart skipped a beat and went ka-ching!

As a freshly-minted solo entrepreneur, I had never heard two sweeter words. Passive Revenue. Just seeing that glorious expression instantly conjured up images of dollars magically dropping down out of the sky. Like some kind of gift from the Internet gods. Imagine, making money while you sleep! Why didn’t I think of this sooner? It all sounded too good to be true.

So, being a hard-nosed, cynical New Englander with a solid, Protestant Work Ethic, I felt compelled to do the due diligence. I took e-courses, attended teleseminars and read “Multiple Streams of Coaching Income.” I spent thousands (yes, 5 figures!) on coaching, classes, marketing materials and websites. I started building an opt-in list, began a blog, created information products, sent out ezines, wrote articles, and launched joint ventures. I listened to and learned from the finest online marketing gurus. Soon I became an Internet junkie, totally addicted to the concept of passive revenue, and its seductive cousin, multiple streams of income. I was hooked, and there was no turning back.

After a year of education, edification and execution, I felt I had most – if not all – of the puzzle pieces in place: Online shopping cart: Check. Autoresponders: Check. PayPal set up: Check. Squeeze Page: Check. Free offer: Check. Then, I finally went to bed one night thinking, “Well, I’m going to sleep now. Time to make some money!”

So this is the part of the story when I’m supposed to wake up to an in-box full of orders, right? Well, not quite. Sure, there were a few orders, but I was a long way from crashing any servers. While all the pieces may have been in place, this life-long career marketer had forgotten one key ingredient: Marketing. Duh! You would think a former television network marketing and promotion exec would remember that, passive or not, you gotta sell it, baby!

Where’s my passive revenue? What? You mean I need to market these products? I have to promote? I’ve got to make offers, and send out e-mail blasts, and work my list? I gave them a freebie, so why aren’t they pouring into my funnel? Huh? You want me to do teleseminars now? Speaking gigs? Radio interviews? What’s passive about that? That’s not passive. That’s downright…active! What happened to “if you build it, they will come?” Is this “Field of Dreams” or Field of Schemes?

As a newbie entrepreneur, I guess I didn’t know the secret handshake. But I get it now. You didn’t really mean passive revenue, right? Let’s face it. There’s nothing passive about it. Maybe we should call it Work Your Ass Off and Market Relentlessly Income.

I think I understand the concept now. If you want to make money on the Internet, you need to be active. Better yet, make that proactive. If you want those elusive multiple streams of revenue, you’re gonna have to hustle. Every day, in dozens of ways. Be smart. Get creative. Market like you mean it. Don’t “work” your list, build connections. Develop relationships. Sweeten your offers. Give more value. But, above all, get to work! Call it passive revenue if you want. It still sounds pretty cool. But we know what it really takes!

Lou Bortone is an award-winning writer and video producer with over 20 years experience in marketing, branding and promotion. As an online video expert, Lou helps entrepreneurs create video for the web at www.TheOnlineVideoGuy.com. In addition, Lou works as a freelance writer and professional ghostwriter, with a ghostwriting site at www.GhostwriteForYou.com and a blog at www.GhostwriteGuru.com.

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If you are considering a franchise as your next career move, you probably already understand a number of the benefits to being a part of a franchise system. However, as each franchisor will offer different levels of assistance, it can be confusing to someone trying to evaluate a potential franchise purchase.

Since the value of a franchise is that the system has been developed to have replicable results, you will want any system you evaluate to score high in those areas that are important to the success of your unit.

Location – Location – Location
If your franchise is going to be site-dependent, the franchisor should, at a minimum, provide guidelines for selection of a site and the general terms of a lease agreement applicable to this type of location. Some franchisors will provide company personnel who will help you search for and select a site while some even work with national real estate brokers to find the best properties. If your franchisor provides help in site selection and lease negotiation, you are working with a good company.

Build-out Assistance
A typical franchise will provide each franchisee with instructions for the design and lay-out of the store along with details of where to purchase the components. As group buying power an important benefit of being part of a franchise company, you should expect to pay less for these components as a franchisee than if you purchased them as a sole proprietor.

At the high end of franchisor build-out assistance are those companies with design groups who help the franchise design the store, sometimes with such high-tech devices as CAD (computer-aided design) systems. Also, some franchisors will even hire a construction team to do the build-out and then deliver the components right to the new business.

Initial Training
The majority of franchised businesses do not require a new franchisee to have previous industry experience, primarily because they believe they can train a person with good business acuity to run the business successfully. A good training program is therefore essential. Most franchise companies will bring the franchisee to corporate headquarters for classroom training and some will allow time for hands-on training at a nearby franchise unit or corporate store.

This initial training should cover all aspects of the operations of the business, including book-keeping, record-keeping, operations, recruiting and retaining employees, and finding customers. The franchisee should receive an operations manual and get answers to any remaining questions she may have so that she feels confident she will be able to get her business up and running.

Some franchisors will provide corporate or field personnel to work side-by-side with the franchisee during grand opening and during the first week of operations, ensuring the franchisee has mastered the training and achieves a comfort level with the business. Franchisors that are willing to train a franchisee’s manager along with a franchisee are providing a value-added service.

On-going Training and Assistance
A good franchise business will continue to improve and evolve with time and the addition of new units and on-going training is often a necessity. Similarly, a good franchisor will offer continuing educational opportunities to franchisees as well as providing on-going assistance as needed. Many franchisors provide a help-line for issues that come up in the field and some will make regular visits to the franchisee’s location. A company that provides conferences or other opportunities for a franchisee to connect with fellow owners has the best interests of their franchisees in mind as these opportunities allow for creative problem-solving, the sharing of best practices and can reenergize the business focus.

Marketing Expertise
Your franchisor should provide you with a complete marketing plan for your new business that covers grand opening through at least the first 3-6 months. Since the franchisor has every reason to want you to succeed, a savvy franchisor will do much more. Many will provide you with the actual marketing materials, professionally produced. These may include pieces such as posters, banners, direct mail postcards, newspaper ads, and maybe TV and radio spots, all of which can be customized for your location.

Permits, Compliances and Other Legal Issues
Depending on the type of business, you may also need assistance in dealing with local governmental agencies for various permits. If your franchise involves food or beverage, there are numerous health-code compliance issues you will need to handle. Your franchisor should provide help in these areas so that your opening is not held up waiting for permits to come through.

There are several ways to find out how the franchisor handles these support items. The first, of course, is that you will want to ask questions about each as part of your investigation into the business. The second step is to talk to existing franchisees about the support they received and how well prepared they were to open and run the business.

Be sure to ask these franchisees if they felt there was anything missing from the training and support they received and if there is anything they wish had been more complete or done differently. If the company you are investigating scores well with these franchisees, you can be confident you will be happy with the support they will provide to you.

Kimberley Ellis is the President of Bison.com, a leading online resource for franchise and business opportunities. She has been quoted as an industry expert in USA Today, Wall Street Journal and a variety of local and regional publications regarding trends in business and franchising. Kim combines her entrepreneurial spirit with a diverse background in marketing and operation to help others succeed in franchising.

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As i type this entry at 12:03am EST, i am again reminded what I love about owning a business. Its the freedom of knowing that if i want to do work in my home office at midnight and try to change my life and that of my family and employees, no one can stop me! And when i get on a thought trail in the middle of the night, I am hard to stop.

I have decided to sell businesses, buy businesses, fire people, hire people, change people's reality for both the better and worse, all the while never once worrying about overtime, lack of access to my computer, cleaning crews or login procedures, you see, I own the joint! And it feels good.

For anyone considering starting a business, i will caution or encourage you that if you really have the stomach for it or a passion for an idea, you will be shot by an arrow that Cupid would wake up in sweats with fear of! I promise you that!

As a business owner, I never shut it down. I went on vacation at the end of year at a swank resort in Florida, have a $1000 a night suite for my wife and kids, a spa to die for, 2 pools, beautiful beaches, warm weather, sun and fun at my finger tips, miles of beach and the flattest ground known to man to run and the entire time i am thinking about my newest start up idea.

What will I call it? How will i fund it? Will I have partners? What URL should I secure? Which of my 6 development firms will i hire to build the site and do the optimization? Do i outsource it to my developers in India who are cheaper but challenged with their desire to be so literal? Do i write the content for the site or have someone else do it? What are my corporate objectives? And the parade of thoughts go one for 5 days and 4 nights!

And can i tell you, it was the best vacation i had in years. You see, a business owner is so adept at mental multi-tasking that i can play with my kids at the beach, have cocktails, talk to my wife, answer e mails, think about dinner reservations, plan the route of my morning run and which spa treatment by whom and never miss even the slightest detail! And they call me crazy! HAHA! I laugh at those bogged down with minute details! I am a big thinker. Big ideas. Big dreams! Always have been. Always will be.

The Blackberry is just a mechanical version of my brain. Calls, e mails, texts, schedules, documents, thoughts, web access. I look at my Blackberry as a mirror image. So you see, i live off of less than 5 hours of sleep a day. Any more and i am lethargic and grumpy because i might miss an opportunity to fine tune my global strategy or my opinion of a new hire or a suit i want to buy or a flight i need to take or a contact i need to cultivate... And the song goes on in my head all day and all night.

Pleasant dreams!!!! Enjoy them for both of us, because i am far too involved at this moment to sleep. I will have plenty of time to relax when i am gone!

Evan Morgenstein: Entrepreneur, Consultant, Sports Agent, Motivational Speaker. Morgenstein started in the tech industry after graduating in 1987 from Syracuse University. Working for several partially owned IBM partnerships, Morgenstein learned from some of the best. He has parlayed that into a dominant company Premier Management Group in the celebrity talent and sports marketing industry.

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The kids are headed back to school and it feels like you should have a lot of extra time on your hands. Why aren’t you able to accomplish all that needs to be done? Time management is a big struggle no matter what stage of life you’re in. As work at home moms, it is even more important that we manage our time wisely. Below are five tips on how you can accomplish more during the time the kids are in school.

1. Set your priorities

It’s important to map out not only what needs to be accomplished during the time that you have allotted each day, but also what things are most important. Make a list of the tasks that need to be accomplished and then rank them according to deadline, desire to complete, etc. Keep in mind that the more you can do while the kids are in school, the more time you’ll have with them the rest of the day. If at all possible, make time with you spouse and children the center of your day and try to work around it.

2. Schedule your time

Now that you know what order your list needs to be accomplished in, take the time to write out a schedule of how and when you will complete each item. This will give you a tangible way to see your progress each day. Your schedule doesn’t need to be set in stone - it needs to be somewhat flexible so that it doesn’t become burdensome. Having a plan of action will help you avoid distractions and accomplish more during the time you have available.

3. Delegate

Whenever possible, delegate tasks that can be accomplished by others. Have your kids stuff envelopes, have hubby print out business cards for you, and if you have a virtual assistant (VA), allow them to do some of the online work or phone calls for you. The best thing I’ve done for my business this last year is to hire a virtual assistant. She is fast, efficient and saves me a lot of time. I can be working with clients and making sales while she handles my article distribution and other tasks. The time saved is well worth the money spent.

4. Let the phone ring

Customer service is one of the most important parts of running a home-based business. Being available for your customers and being willing to answer questions is what will set you apart from the many other businesses out there. However, if you are working to accomplish a task that is important to your business it may be necessary to allow the phone to ring and the answering machine to handle some calls. I’m not suggesting that you ignore your customers, but that you use your answering machine for what it is – a message service. By knowing who has called and what they need, you can call your customers back when you have time to work with them without feeling rushed. Also, by knowing what your customers need before your speak with them you can make preparations ahead of time, thus spending less time on the phone and saving both yourself and customer time.

5. Take a Break

One of the biggest mistakes of work-at-home moms is to work too much. Because we are building our own businesses we feel that we will not succeed unless we’re working – or at least thinking about work twenty-four hours a day, seven days a week. This simply isn’t true. Taking care of yourself is one of the best things that you can do for your business. Focusing on something other than your business can give you clarity and help you avoid burn-out.

Running a home-based business while your children are in school is possible, but it does take efficiency and organization. It’s very important that you set your priorities and your schedule your time in a way that is flexible and that allows you to get the most accomplished in the time that you have available. Don’t get discouraged if it seems like you’re not accomplishing much some days. Rest, go easy on yourself and do your best.

Jill Hart is the founder of Christian Work at Home Moms, CWAHM.com. She graduated from Grace University with a Bachelor's Degree in Human Development and Family Studies/Bible. Jill has worked from since 2000 and started her own home-based business to assist other Christians who desire to work from home while maintaining a godly life.

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Don't let these stop you from having a business plan for success!

A recent study of 29,000 business startups noted that 26,000 of them failed. Of those failures, 67% had no written business plan. Think that's a coincidence?

Here's the top 10 myths Solo Entrepreneurs often have about business plans. Usually, the reasons why they don't have one. De-bunk the myths, and see how having a business plan for your solo business, can actually be easy and fun--and can jumpstart your success!

1. Myth: I don't need a business plan--it's just me!

Starting a business without a plan is like taking a trip in a foreign country without a map. You might have a lot of fun along the way, and meet a lot of friends, but you are likely to end up at a very different place than you originally set out for�and you might have to phone home for funds for your return ticket.

Solo Entrepreneur Reality: Successful Solo Entrepreneurs know that the exercise of creating a business plan, really helps them think through all the critical aspects of running a business, make better business decisions, and get to profitability sooner.

2. Myth: I have to buy business plan software before I can start.

Business plan software comes in many shapes and sizes, and prices. Many are more geared at small and growing businesses with employees.

Solo Entrepreneur Reality: Business plan software can be helpful but it's not required. Software is more likely to help if you have a more traditional type business, like a restaurant or a typical consulting business.

3. Myth: I need to hire a consultant to write my business plan.

Consultants are an expensive way to have your business plan written.

Solo Entrepreneur Reality: Your business IS you - and you need to be intimately involved with the creation of your business plan. A better strategy, if you think you need professional help, is to hire a coach or mentor - someone who can guide you in what you need to do, not do it for you.

4. Myth: The business plan templates I've seen have all these complex-sounding sections to them. I guess I need all those?

The only time you need to follow a specific outline is if you are looking for funding.

Solo Entrepreneur Reality: Your business plan needs to answer ten basic questions - that's it! Don't make things more complicated than necessary.

5. Myth: My business plan needs to be perfect before I can start my business.

If you wait for everything to be perfectly detailed, you may never start.

Solo Entrepreneur Reality: If you have at least a first draft that answers those ten basic questions, you are ready to launch your business! Make your business plan a living, evolving document. In the startup stages, review and update your plan every 2-3 months. As you grow and stabilize, you can slow down the review cycle to every 6-12 months. All business plans should be reviewed and updated at least once a year.

6. Myth: I have to do everything I say I'm going to do in my business plan, or I'm a failure.

Many Solo Entrepreneurs never start because of this myth which leaves them feeling that the success of their future business suddenly rides on each stroke of the pen or click of the keyboard!

Solo Entrepreneur Reality: Think of your business plan as a roadmap for a trip. Expect to take some detours for road construction. Be flexible enough to take some exciting, unplanned side trips. And don't be surprised if instead of visiting Mount Rushmore, you decide to go to Yellowstone, if that turns out to meet your vacation goals better!

7. Myth: A good business plan has a nice cover, is at least 40 pages long, must be typed and double-spaced�

Business plans intended for investors, such as a bank or venture capitalist, must meet certain requirements that such investors expect.

Solo Entrepreneur Reality: As a Solo Entrepreneur, your business plan need only satisfy YOU. It might be scribbled on a napkin, on stickie notes on your wall, or consist of a collage of pictures and captions. It might be all in one document or scattered among several mediums. As long as you know it in your head and heart without having to look at it, and and it is easily accessible to you when you have doubts, that's all that is necessary.

8. Myth: I don�t need a loan - so I don't need a business plan.

YOU are the investor in your business - and would you invest in the stock of some company without seeing a prospectus?

Solo Entrepreneur Reality: Seeing your plan in black and white (or color, if you prefer!), can give a whole new view on the financial viability of your business. If 'doing the numbers' seems overwhelming, remember you don't need fancy spreadsheets. Just lay out a budget that shows where all the money is coming from (and going), and have an accountant review it for additional perspective.

9. Myth: My business plan is in my head - that's good enough.

I don�t know about you, but I sometimes can't remember what I planned yesterday to do tomorrow, if I don't write it down!

Solo Entrepreneur Reality: There is a real power in writing down your plans. Some schools of thought advocate that the act of writing a plan down triggers our subconscious to start working on how to manifest that plan. And, of course, it's a lot easier to remember when you have it in front of you. And a lot easier to share and get feedback from your non-mind reading supporters.

10. Myth: Friends and family are the best sources of feedback and advice on my business plan.

If your brother is an accountant and your best friend is a market research expert, then this might be true.

Solo Entrepreneur Reality: As well meaning as our friends and family can often be, they just aren't the best way to get honest, objective guidance. Instead, seek out folks that have specific knowledge that will help you, are willing to be candid with you, and that have a genuine interest in helping you succeed. A business coach is one resource to consider!

Terri Zwierzynski is a self-employed business strategist and marketing consultant to solo entrepreneurs, and a grassroots promoter of the solo entrepreneur lifestyle. She runs Solo-E.com, the resource website for the self-employed which attracts thousands of solo home business owners monthly from over 100 countries on six continents (and was recently named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.

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&nbs