How to Make $500 a Week Typing at Home ---------------------------------------------------------- H.B.CO.A.
How to Make $500 a Week Typing at Home ---------------------------------------------------------- Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- HOW TO MAKE $500 A WEEK TYPING AT HOME Legal Disclaimer: While all attempts have been made to verify information provided in this publication, neither the Author nor the Publisher assumes any responsibility for errors, omissions, or contrary interpretation of the subject matter herein. This publication is not intended for use as a source of legal or accounting advice. The Publisher and Author wants to stress that the information contained herein may be subject to varying state and/or local laws or regulations. All users are advised to determine what state and/or local laws or regulations may apply to the user's particular business. The Purchaser or Reader of this publication assumes all responsibility for the use of these materials and information. The Author and Publisher assume no responsibility or liability whatsoever on the behalf of any Purchaser or Reader of these materials. Results are not typical. Your results may vary. The Author and Publisher make no claims about obtaining any results whatsoever. Where specific figures are quoted from individuals there is no guarantee you will have similar results. This publication is full of useful information which has the potential to greatly enhance your personal situation as it has others worldwide. We encourage you to get started reading today. Copyright © Home Business Center of America. All Rights Reserved Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- TABLE OF CONTENTS INTRODUCTION HOW TO START YOUR OWN MONEY-MAKING TYPING SERVICE CHOOSING A TYPEWRITER THE NEED FOR A COPIER: WHEN TO RENT AND WHEN TO BUY STAYING ORGANIZED CASH FLOW SELECTING A NAME REGISTERING YOUR BUSINESS NAME YOUR BUSINESS TELEPHONE HOW TO SAVE MONEY ON YOUR PRINTING HOW TO BECOME A LETTER WRITER PRICING YOUR SERVICE ADVERTISING YOUR SERVICES HOW TO GET MONEY TO START YOUR BUSINESS FEDERAL MONEY STATE MONEY Copyright © H.B.CO.A. 1 2 4 6 8 11 12 14 15 16 18 20 21 23 23 28 How to Make $500 a Week Typing at Home ---------------------------------------------------------- INTRODUCTION Frequently, companies are finding that it is more cost-effective to use Dictaphones, to be transcribed later, or write rough drafts of letters, reports, newsletters, mailing lists, and hundreds of other varieties of paperwork, and give them to an individual with his/her own typing service, than to hire secretaries (employees). In the past, it was almost assumed that a business could not operate without an "in-house" secretary. Not so anymore! In fact, many businesses have found that they can operate more efficiently by reducing, or completely eliminating, secretaries. Studies have shown that secretaries, in many cases, can directly or indirectly create internal staff/management problems by taking, or being given, an authoritative position that separates the two. When that happens, a positive interoffice communications flow can be disrupted, resulting in a negative effect on productivity, and resentment. On the other hand, too many staff/management personnel dependent on too few secretaries also can create the same problems. In any event, when a company is offering services that require frequent contact, with a personal touch, handling their own telephone calls, or drafting their own reports, etc., is a normal function of the job. As for typing, that work can be sent out or delivered with great efficiency. But, typing for companies is only the "tip of the iceberg" for anyone who would like to set up a typing business. You can get typing jobs from law offices, hospitals, college students, and authors. There are cover letters, grant applications, announcements, programs, flyers, mailing lists, manuscripts, reports, newsletters, ads, sales letters, and even (in the case of one typist who received a request from a person with illegible handwriting) love letters! And, that is not all! If it can be written, it can be typed. What is particularly exciting, and rewarding, about this business, is that you not only will be your own boss within the privacy of your home, but you also will be able to make all the money you want! This book was written to show you how to start your own business, on a shoe string! It has been designed to offer you a step-by-step way to stay home, take control, and make as much money as you want, part- or fulltime. Just imagine no more freeway traffic, bus rides, or quick lunches to contend with. "It is all in your hands," and you can start now! -1Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- HOW TO START YOUR OWN MONEY-MAKING TYPING SERVICE There are literally tons of typed materials processed daily across America. The need for clean and professionally-typed letters, newsletters, manuscripts, reports, and an array of other forms is endless. Communication and the delivery of information is what "drives the wheel" in our modern world economy. Without them, there would be little economical or social progress. Whether you are an experienced typist or not, as long as you have the desire and ability to learn, all the work you would ever want should be available to you. Even a "two-finger typist" can make money. Have you ever noticed reporters, novelists, or others in the movies, or in the back room shots of TV news reports? Did that "tap tap" sound, sound familiar? Many of those movies scenes accurately described people who became highly successful and won world acclaim as authors, playwrights, or corporate executives, to name a few. Who would have believed they were "two-finger typists"!? Obviously, a person can turn out more work by knowing standard typing methods, but almost anyone who can read English and follow a typewriter instruction booklet, also can start a typing service, professional typist or not! Typing Requirements You may not be able to type 60 words a minute at the start, but that is not important. What is important, and a requirement on any job, is that you are accurate and dependable. Accuracy means that you use the standard formats for a typing job, follow special instructions, and are completely dependable. It will not pay, or generally be acceptable, to make up your own format as you go. You must follow proven formats for r‚sum‚s, sales letters, etc., or other instructions given to you by your client. You can try various formats, of course, that are acceptable in the business world, but by-and-large, you should use the norm. And, above all, proofread everything you do. Spelling errors are the epitome of sloppy work, and sloppy work can mean the end of a customer. Never set a typing job deadline that you cannot keep. In other words, do not commit to a customer unless you are absolutely certain you can deliver. Not meeting a customer's deadline not only may be costly to his/her deadline, but it almost certainly will eliminate any repeat business for you. Try to create a little flexibility not only in your business, but also in the customer's. If a customer needs a job by Friday, ask him/her to have it to you on Monday. Flexibility will allow you time to organize, and organization can mean more profits for you. Business integrity and credibility will depend on your ability to pace yourself accordingly, and to provide first-class, dependable service. -2Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Brush Up on Your Typing Before you take a job, make certain that you have some basic knowledge of a typewriter, and the ability to do the job in a professional manner. To begin with, and depending on your abilities, you can decide what jobs to take. If you feel comfortable with r‚sum‚s, do only r‚sum‚s until you are ready for sales letters, and so on. If you are a beginner typist, you may want to go slow at first, and build at your own pace. Typing errors may be more prominent with speed typing, but even two-finger typists make mistakes. Always proofread every job, no matter how large or small. Proofreading includes checking not only for spelling errors, but also grammar and punctuation errors. Visiting your local library will give you a wealth of information for the skills you will need. Working "on the job" will, of course, give you the experience to improve as you go. However, it would be wise to set a certain amount of time aside each day or evening to practice improving your speed and accuracy. "Practice makes perfect," but practicing on an actual job can cost you valuable time and money. Every business should have a good dictionary and thesaurus. A customer may ask you to edit his/her work, and this may include not only correcting spelling, but also inserting a more appropriate word. A thesaurus will show you alternative words, meanings, and phrases, as well as correct spellings. A good dictionary and thesaurus can be purchased for under $10, with over 300,000 words, definitions, synonyms, and antonyms. Temporary Secretarial Services One way to gain secretarial typing experience is to work part-time for a secretarial service, while you are building your own business. There are many agencies located throughout the country, and a part-time job could be all you need to become familiar with the marketplace and the formats used. It also could help you with your typing and writing skills, and serve as on-the-job training. You might even be able to get referrals for your own business. To contact an agency near you, refer to your telephone directory Yellow Pages under Secretarial. -3Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- CHOOSING A TYPEWRITER Generally, it would be a good idea to purchase a new electric typewriter. A manual will serve the purpose, of course, but electric typewriters require a fingertip touch, offer a wide range of accessories, and are usually less fatiguing. The main reasons for a new electric as opposed to used or manual are: (1) New typewriters will have a warranty or guarantee against defects (2) There is a definite advantage to buying from a dealer who has an established reputation for properly servicing his/her machines. (3) The expense can be used as a business tax deduction. In our modern age, excellent typewriters can be purchased at relatively inexpensive prices. Even those typewriters in the $150 range now have: • • • • • • • • Automatic underlining and centering Automatic return and paragraph indentation Pica (10 pitch) and Elite (12 pitch) type Drop-in daisywheel cassettes with optional varied printwheel typestyles Decimal tabulation with express backspacing and up/down indexing Word spell dictionaries that alert you to a spelling mistake Correction/repeat memory And more If you decide to purchase a typewriter in a lower price range, it probably is not necessary to buy a service contract from the manufacturer or distributor. Calling a service technician, if one is required, is often more economical, provided the typewriter is properly maintained in your home. However, if you decide to invest in an expensive typewriter, and expect a large volume of work extended over a long period, it would be better to have a service contract with the manufacturer. Theoretically, all modern typewriters should be able to handle all the work you have. Realistically speaking, any machine pushed beyond its limits will not last forever. The business rule of thumb is that a machine generally should be replaced if your yearly maintenance costs exceed 5 percent of the original purchase cost. Modifications are considered cost-effective if maintenance costs run 3 to 4 percent, but with new typewriters you should not have to worry about maintenance costs for at least five years, or more. -4Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Also, 5 percent of a $150 typewriter is hardly a reason to trade-off, and the rule really applies to higherpriced models that have continuing breakdowns. Whenever possible, you should try out typewriters. They are not necessarily all the same, and one keyboard may feel better than another. Most office-supply businesses and department stores have displays that will allow you to experiment. Read and research each typewriter that interests you. Refer to individual instruction manuals to determine if one machine has more features for the same money. Remember, the more you can get for your money, the better. Also, compare manufacturer's warranty offers. It also might be wise to compare typewriter ribbon, correction tapes, and daisywheel replacement costs. Explore any area that will make your job more comfortable, your business cost-effective, and your finished product look more professional. -5Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- THE NEED FOR A COPIER: WHEN TO RENT AND WHEN TO BUY In most cases, having a copy of a typed document is a good idea. Having copies of a completed job is not only good reference material, whose format can be used on another job at a later date, but in the event that a job is lost in the mail, your customer will be extremely please to learn that you have, in effect, "saved the day." If your copies are going to be primarily used for your in-house records only, and the appearance does not matter, then simply use carbon paper. You should only have to use more expensive photocopies if the material is to be sent out. Many businesses learn the hard way, and purchase or rent a slow-volume copy machine to reduce costs, even thought their daily volume of copies is high. A copier that produces one copy ever 30 to 60 seconds can cost you money. Although a machine can theoretically handle it, you may end up standing at the machine for countless hours, and a machine pushed beyond its limits will not last, and neither will your business if half your time is spent making copies. Still, if you decide that this type of copier will meet your volume needs, buy one from a dealer with an established business, and who will service the machine. If you purchase a medium-volume copier, it usually will last from three to five years. It may be more costeffective to rent if your usage is medium to high. Even the most durable copiers will wear out High-volume copiers are more expensive, from $5,000 and up, and not a very practical purchase unless your usage exceeds 25,000 copies per month. Anything less than that would not justify purchasing a quality, highperformance machine. If you do not have a daily or high-volume use, for a copier, you always can have copies made for as low as three cents each at most office-supply stores if you operate the copier yourself. If you decide to rent or buy, look for a copier that meets your needs. Make certain that you are not receiving somebody else's problems in the form of poor copies, or machines that are so complicated that you have to call a service representative every time there is a paper jam. Needless to say, you copies should be crisp and clear if you are mailing them out. Machine speed also is important if your business is going to be cost-effective, once you have a high enough daily copy volume. According to recent studies, the following guidelines will assist you in determining what machine speed you should be looking at, according to your monthly volume. -6Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Volume of Copies Per Month, Machine Speed Copies Per Minute Under 5,000, 10 5,000-10,000, 15 10,000-20,000, 20 20,000-30,000, 30 30,000-50,000, 45 Over 50,000, 60 On many leased machines you can find agreements that state, "The more copies you make, the less expensive it is to operate." Many rental businesses operate on a sliding-fee basis. As the number of copies increases, your cost per copy decreases. Remember, however, if you require special features, such as two-side coping, color, reduction, collating, etc., make certain that you have the volume of work to justify the overall costs, before you lease. On the higher-volume, multi-purpose copiers, you may be asked to sign a one year, or more, lease. If you do not have the proper volume for the proper machine, it could eat up the profits. The rule here, as in purchasing or leasing any office machine, is "If you don't need it don't get it!" -7Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- STAYING ORGANIZED Keeping your records organized, and maintaining a filing system, will make your business operate more efficiently, and with a minimum of errors. Through various advertising techniques (discussed later), you should begin to receive orders for your services. When you start receiving your mail or telephone calls for typing jobs, you should have a series of "key codes" assigned to each source that you advertised in. A key code is a number, letter, or combination that is used in an ad to identify where a response originated. The code usually appears in an ad after your address or P.O. Box number. An ad key code number should correspond with the name of the publication in which you have placed an ad, the month of publication, and the type of readers that receive it. This reference material will tell you what publications are getting orders, and, over time, if certain months throughout the year produce better response than others. This information should be recorded on a 3x5 index file card for each separate publication in which you advertise. Note that the publication's name and key are listed at the upper-left corner of the 3x5 index card. This location will allow you to file your keys alphabetically. Using a recipe-type file box as a holder/organizer will work well. Never discard an index card if you stop running a particular ad. It is not at all unusual to receive an order many months, or even years, after an ad first appears. I know of one company that still receives orders at an address it moved from three years ago. People tend to save information, and when the time is right, they will place an order for your services. On the backside of your index card, write information regarding the size, cost, and circulation of the ad. You also can list the number of responses you received daily or weekly. It is best to do your entries right after you open your mail. Staple two index cards together if you run out of room. Customer Files You should have a separate set of index cards for customer orders with a name, address, and telephone listed in the upper-left corner. An individual's last name would be entered first, and filed alphabetically using the last name. Company names remain "as is." Other information on customer cards would include date received, description of work to be completed, date promised, and date delivered. Because your actual customer jobs will probably involve typewritten sheets of paper, copies, receipts, correspondence, etc., you will need 9x12 manila file folders. On the folder's extended tab, write an individual's last name first, or a company's name as is, and file alphabetically. -8Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- A metal file box, or plain cardboard file box may be all you need at the beginning. As your business grows, you may want to purchase a metal two- to four-drawer filing system. Good organization will allow your business to operate smoothly and efficiently. Business Records Mismanagement of business accounts for an extremely high failure rate. Sloppy records or no records at all, are the most prominent form of mismanagement. Generally, a business will not survive if thorough and accurate records are not maintained. Good business records are your best insurance against failure. A business needs records for the same reason that a traveler needs a map. Records tell you where your business has been, where it is now, and where it is going. Without records, you can become lost in a maze of paper shuffling, and not know if you are making or losing money. It does not matter if your business is large or small, records are essential. Without records, you could not maintain an accurate inventory control, file for tax advantages, or even balance a checkbook. Every phase of your business should be controlled with some form of record. When you first start your business, you should have records of your initial investment, including all equipment purchased or leased. You also should record the terms by which the capital outlay was obtained, along with interest rates, and the method of repayment. Bookkeeping is not exactly anyone's favorite subject. It can be the most tedious and unexciting part of a business, but without it you cannot operate efficiently. From the beginning, you should record transactions daily. A journal may serve your needs. Every dollar paid out, and every dollar received, should be entered into your journal daily. These daily entries are then transferred to your bookkeeping ledgers. The "double-system" ledger entry is the most preferable because errors are more apparent and easier to find. With this system, each item is entered twice, once as a credit and once as a debit. Your ledger debit/credit entries should be checked on a quarterly basis to make certain that they do balance. It is easy to correct an error every three months, as opposed to waiting six or 12. A "cash-basis" bookkeeping system is used when neither income nor expenses are recorded until the actual transaction occurs. When the bill is paid, or income received, it is then recorded. Until this happens, a file is kept on bills, receipts, etc. for future entries. The accrual method, on the other hand, allows you to record every transaction as it occurs. When a job occurs it is entered as income, even though payment has not been received. Also, when a purchase is made, it is entered even if you have not paid for it yet. Depending on the size of your operation, books and office equipment may vary from business to business. You may choose to operate your business alone, or you may hire assistants. -9Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- You probably would not need a cash register, unless you expand your typing service to include an officesupply retail outlet, but you may want an adding machine, or electronic calculator, with printout capabilities for your records. If you do hire other typists on a part- or full-time basis, you may need employee time records. Depending on the size of your operation, you also may require a petty cash system, pay slips, statement of accounts, and other special records. With the exception of petty cash, every disbursement should be made by check. This will allow you to keep an accurate record, and provide you with a receipt of transactions when your canceled checks are returned. When writing a check, make certain that a statement, bill, or invoice exists to justify the expenditure. You may pay an employee by cash or check. If you pay cash, you should have the employee sign a receipt for your records of the amount received. If you pay by check, the canceled check will serve as your receipt. If you require large amounts of office supplies, you should keep a running inventory. You can do this weekly or monthly depending on the volume of materials used. - 10 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- CASH FLOW Today, almost all business are run on some form of credit. A supplier may extend credit to you, and you in turn extend credit to your clients. Our economy depends on credit, but there are negatives in this system. Sometimes, accounts are not paid on time, or not at all. Any slow or bad accounts must be followed up, and you should maintain a record of all accounts receivable. Quick and timely pursuit of outstanding accounts will hold any losses to a minimum. Making profits is what your business is all about, and a cash flow is vital to the success of your business. When a job is completed, and you do not have an extended credit policy, have your bill ready when the job is picked up or delivered. Hand the bill to the customer in such a manner that you convey a "payment due now" message. You should, of course, discuss your payment policy, and make arrangements prior to accepting any work at all. If you do intend to offer a 15- to 30-day extended credit service, then you must have records to indicate who owes what! To begin with, 3x5 index cards may be a sufficient system. As your business volume begins to grow, it may be best to consult with your accountant to determine what type of system will best meet your business needs. - 11 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- SELECTING A NAME Now that your office plans have been made, you should decide on a business name. Do not be in a hurry when you make a choice. You should choose a name that is easy to remember, and identifies your service. A good name will promote your business for you. More often than not, tagging your business name with "Enterprises" or "Associates" is a mistake. Using your name, "Betty J. & Associates" will mean nothing to a businessperson reading an ad, or your return address on promotional mailings. What a reader looks for is, "What do you do?" and "What can you do for me?" Be as factual as possible in your business name. Do not call yourself a "Typing College" if you do not teach, or a corporation is you are not incorporated. There may be legal implications if you do. Give your name some imagination! Letter names, like A & B Sales, M.O. Enterprises, etc., will not attract any attention as to what it is that you do, or what you offer. On the other hand, Professional Typing Services of America, in part, does. Russ von Hoelscher, a world-class copy-writer and consultant, and highly regarded as an expert on advertising, mail order, small business, and motivation, is the author of over three dozen books, including the international best seller How to Achieve Total Success. In an interview, Russ was asked what methods he used to discover great names and titles. Here is the method that works for Russ von Hoelscher, and I believe it can work for you: "There is no secret formula, just some time, mental effort, and a big yellow tablet. To obtain the "perfect" name/ title for anything, I just write, write, and write. I write down every possible name/title that comes to mind after considering what the service, book, gadget, etc., has to offer the end user. I do not try to be objective, or clever, or judgmental. I simply keep writing every conceivable name or title that comes into my mind. Then I forget about it. I work or play at something else. The following day, I repeat the process, more writing, followed by other non-related activities. About three days of this is all I need (you may need more or less time). Next, I review everything I have written and begin a process of elimination crossing out names/titles that do not "grab me." Before long, I'm down to just 2 or 3 names/titles. From this esteemed group, I pick my winner. Sometimes the survivor stands on its own, sometimes it's a combination taken from the remaining two or three "best" names/titles." - 12 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Your company name, the names you give your products, services, books, etc., are very important. First impressions make them great and favorable! An impression that helps tell and sell! Russ writes and publishes the "information-rich" newsletter for mail-order/direct-response marketers, The Russ von Hoelscher Direct Response Profit Reader. You can obtain a sample copy of his unique newsletter for only $2.00 from Publishers Media, Dept. PR, P.O. Box 546 El Cajon, CA 92022 Or telephone him at (619) 282-5822. - 13 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- REGISTERING YOUR BUSINESS NAME After you have selected a business name, you may be required to register it with your local county clerk if it is different than your own legal name. This is referred to as "DBA" or "Doing Business as." Registering your business name involves the completion of a simple form, and a small filing fee (usually $10). Generally, your filing will be recognized for ten years (check with your county clerk for details). Some areas may require that a notice be posted in your local newspaper indicating that you are "doing business as." This notice will serve as an introduction, and advertisement, of your new business. The advantages of registering your business name may include: • • • • Serving as an initial ad and obtaining you customers Helping potential customers locate you Reserving your business name Preventing unethical businesses from operating "scams," and then disappearing without a trace - 14 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- YOUR BUSINESS TELEPHONE A telephone answering machine is a wise investment, especially if you do not want to lose a customer by not being in when he/she calls. A simple, but professional, voice recording will allow you to return all messages that are left on your answering machine. Another important feature of answering machines is that you can actually screen your calls as they come in and decide in an instant if it is a business call that demands your immediate attention, or a social call that can be returned when you have some leisure time. If you are operating a business from your home, your first telephone priority must be business. Always remember, customers expect service for their money, and you should handle each business call quickly and efficiently. Polite, yet direct conversations, is the best way to use time. It also will give you a professional "Let's get the job done" image. Chatting about yourself, or talking about the weather along with other small talk, will not help your business or workload deadlines. If the customers initiate the conversation, by all means, do not cut them off. A little personal touch is a good for business, but do not waste their time and money, or yours, with prolonged conversations. Telephone Guidelines to Follow (1) When you answer the telephone, do not identify yourself as "Mr. Bernstrom," or "Ms. Stewart." Many callers consider this form of identification unacceptable and feel humiliated. Also, researchers in the field report that people who answer a telephone, using their first names only, receive more abuse from the callers. By using first and last names to identify yourself, you will project both dignity and professionalism. (2) Never say "that's not my job" or "I don't know" in response to a question from a customer or potential customer. Always say, "that's a specialized question, I'll find the answer and call you back." Do not "pass the buck" by asking a customer to find his/her own answer in an area that you are supposed to be an expert in. And, never ask a customer "to call you back," unless you do not want his/her business! Always volunteer to call a customer back, and let him/her know exactly when that will be. Never say, "As soon as possible, in a bit, or in a day or so." Remember, professionalism and service to the customer is the key to your success. - 15 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- HOW TO SAVE MONEY ON YOUR PRINTING "Money saved is money earned" is a wise old saying that applies to getting your printing needs at a reasonable price. Anyone in business soon discovers that he/she needs much printed matter to conduct his/her business. Whether a part, or all, of your typing business is made by mail, your printing needs could be a major part of your operating expenses. Saving money on printing can help any businessperson add profits to the all important bottom line. Here are 11 ways to cut your printing costs: (1) Know your printer's capabilities. Today most printers specialize. Some are short run, others long run. One will handle one- or two-color jobs, another will offer four-color work, and still another will be best suited for newsprint, etc. Knowing what a printer's strengths and weaknesses are can save you time and money when placing your order. (2) Get competitive quotes. I am often amazed at how prices for the same job vary greatly. Get at least three bids on all your needs, until you find the right printer for similar work. Even then, it is smart to get a few bids periodically to make certain the printer is treating you fairly. (3) Combine similar jobs for one press run. A "gang run" of several of your forms, envelopes, letterheads, etc., small or large, could save you plenty. (4) Give complete instructions. Leave nothing to "guess work." Clearly state exactly what you want done, and put it in writing. (5) Get a firm quote before work begins. Know in advance what your exact cost will be, including any extras, such as stapling, folding, etc. Some printers offer very attractive prices on the main print job, but then hit you with higher prices on additional services. (6) Avoid special sizes and colors. If you want to watch your printing costs skyrocket, start requesting unusual sizes and colors. Standard paper sizes and inks always will save you money. (7) Weight increases cost. Heavier paper always means heavier costs. Some pieces may need heavy paper stock, but most do not. Also, heavy paper could increase your postage costs. (8) Bleeds can be expensive. Many printers require margins (gripper space) on all sides of a printed piece. If you tell them you want the ink to "bleed" off the page, you can expect to pay much more for it. - 16 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- (9) Know what quality you will receive. Advise your printer of the type of quality you need (show samples if possible). Also, request that he/she show you samples of his/her work. If his/her printing does not meet an agreed-on quality standard, have him/her reprint the job at his/her cost. (10) Do not expect miracles. Unless you really need a rush job, do not ask for it. If you must have it "yesterday," be prepared to pay extra. If you submit less than excellent camera-ready artwork, do not expect a super job. Today, most printers print photo-offset. It is impossible for the result to be better than the original copy you submit. (11) Obtain separate quotes for camera-ready composition. When you need artwork, photographs, typesetting, etc., to get your job ready for press, obtain separate quotes from graphic artists, photographers, and/or typesetters. Most print shops do not have all of these services in-house. When they agree to handle everything for you, they often bring in the professionals to do the work. Your bill then includes the individual special services, plus a nice commission for the printer. Shop around and get your own quotes. This way you will only pay for the services rendered. All printers are not equal, and prices charged for similar work can be very reasonable, or outrageously high. Do some homework and obtain several quotes before you place your order. Do not forget to check out several mail-order printers. Their rates are often the lowest. - 17 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- HOW TO BECOME A LETTER WRITER In the course of operating your typing service, you may be asked to write original material for your customers. Even if you have never given this any consideration, or feel qualified, you should be able to learn, and to profit from it. Letter writing would include newsletters, cover letters, sales letters, collection letters, and a wide variety of other letters that may appear routine, but do require organization, and an effective writing ability. Writing letters for profit could be the fun part of your business, not to mention the big profit rewards. All you really need is determination, good reference material, a dictionary, thesaurus, and a typewriter. The best way to learn how to write forms and letters is to refer to others, right from your customers files, or "How To" books that you can get at your local library. Once you learn the basics, you can improvise and improve any letter or form, if required. Once you have written a letter, any kind, set it aside while you start on the next project, then go back to look the letter over. You will be amazed at how quickly any errors, or wording that can be improved, will appear when you read it over a second time. Even the professionals use this method, and you will be able to quickly polish your letter or form to perfection. Changes are the beginning of being able to develop a sense between good and excellent, while using your own proven ideas and writing techniques. As you are learning from reference materials, decide what type of letter or form you would like to begin with. If you decide on cover letters, specialize in that area until you feel comfortable enough to advance to include other types in your services. When writing a letter of any kind, you always should remember that a letter is an important substitute for face-to-face personal contact. The object of anyone's letter is to sell. Mail-order companies use their sales letters, brochures, etc., to sell their product or service. A letter of friendship or love is written to sell, or project, the writer's character, personality, honesty, integrity, love, etc. Every letter has an ultimate goal. Whether to sell, inform, correct, or remind, it must coney its message clearly and convincingly to be effective. As a letter writer, you must convey the intended message in the best possible manner. A personal letter may be meant for one person, or all members of a family. A business letter may go to hundreds or thousands of people. You can convey your customer's message to each person individually, as if you were there speaking to each one. That is the magic in the powerful medium of letter writing. Every business needs a good letter writer to be successful. - 18 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- To understand what is important to other people in the form of letter content, just examine what is important to you. That self-examination is your beginning of knowing what to write. Put yourself in the reader's place, and then write the kind of letters you would like to receive. What captures your attention? What makes you want to read more? A good letter writer who can STOP the reader, get his/her ATTENTION, make him/her interested and EXCITED, is worth a high price. A good letter writer can make or break a company all because of words! The secret to writing a good letter is in the mix and match of words and meanings that you want to convey. A good writer needs hundreds of powerful, desirable, motivating, and commanding words that get attention and action. This is where a good dictionary and thesaurus are essential. There are four vital parts of a well-written letter: (1) Attention: You must use a word or words that get immediate attention from the reader. (2) Interest: From the beginning, you must keep the reader's interest. (3) Desire: You must create a desire within the reader to have what you are offering. (4) Action: You must tell the reader exactly what to do to satisfy his/her desire, and have him/her act immediately! Remember, the purpose of a letter is to communicate. Make the letter concise and rewarding. Successful letters always are straightforward, no nonsense, believable, "talking" letters. If they are successful, it is because they are believable! - 19 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- PRICING YOUR SERVICE The low overhead of your home business will allow you to set prices for your typing and/or writing service at less money than if you were located in an office on Main Street. Still, there is no need to drastically under price your services. If the quality is there, the price should be near by. You may discover that customers may even try to negotiate a lower price, knowing that your operating costs are lower. If this happens, simply tell them that your prices have already allowed for that and you are passing those savings on to your customers. To know what you should charge, check with your competition. Secretarial agencies in, or near, a mid-size metro area will give you the information you need. Simply give them a call, and ask! Remember, you want to know what the agency charges, not what one of the agency's secretaries earns. You should discover that the national average for typing services ranges from $12 to $14 per hour. Those amounts may vary, and typists on the East coast may earn up to $20 an hour. Determine what "your" area market will support, and set your prices to be competitive. - 20 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- ADVERTISING YOUR SERVICES An important key to your business success is a winning ad. In it, you must convince a potential customer that he/she needs your service over all others Here are a few suggestions in developing winning ads that will get you business. Words that Work Words allow the reader to visualize the benefits of your information. You literally want the reader not only to see the advantages of doing business with you, but also to get excited enough to head for the telephone or directly to your place of business. Look at ads in any newspaper or magazine, and locate those that appear to be running consistently, week after week, month after month. These are generally the ads that are showing results. You will see key words like: Words that create a sense of urgency, and that make the reader want to have it "NOW!” are the keys to making your offer irresistible. You must convince the reader that he/she needs your service. "Look at this incredible offer," has more effect than “Look at this offer." A good ad will make the reader want your service. Ad Headlines Whether it is a classified ad, or a display ad, the key to stopping a "page flipper" in his/her tracks is your headline. The headline of your ad may be more important that the body copy. If you cannot get a reader's attention, the rest of the ad does not matter. A weak headline can doom an ad's contents to failure. The headline must first appeal to the reader's thoughts and feelings. These, together with special interests, influence a final decision to act! Intellectual considerations in an ad just will not do it! This is why an appeal to a person's emotions and desires almost always outperforms straight factual headlines. Save the facts about your services for later in the ad. First, get the reader's attention. Successful advertising is achieved by briefly capturing the reader's mind, and then leading him/her to the desired action to wanting your services. The ultimate goal of an ad is to draw attention to the headline, then to the opening paragraph, and finally to all of its contents. If you use the key action words that push the buttons of basic needs (success, greed, love, pleasure, survival, etc.), you will achieve the necessary response. - 21 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- The positive approach works best. Appealing to the reader's self-interest almost always works best in headlines. Make your headlines shout out to the reader "Here is a big benefit for you!" If you have real news to tell, get the news into the headline, along with the benefit. Also, keep your headline positive. Telling them how they will prosper, works better than telling them how to prevent losses. Any negative appeal concerning possible loss by not responding to your service can be mentioned elsewhere in the body of your ad. Capture attention with headlines that catch interest, and give the reader good news in the form of a big benefit. Although I’m not trying to sell you anything, I highly recommend you look into purchasing “Words That Sell” by Richard Bayan and “Phrases That Sell” by Edward Werz and Sally Germain. These two books have proven to be an invaluable tool for people who do a lot of creative writing. - 22 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- HOW TO GET MONEY TO START YOUR BUSINESS Do not be fooled by false claims. It always takes some money to get started in a business of your own. Some business ventures do require very little start-up money; others need a big investment to get them going. Almost every business opportunity, new product, or service requires some capital, large or small. Whether you need only $1,000 or less to get started, or $100,000 or more, it is a problem if you do not have the money. Depending on how much "seed money" you require to get your new business off the ground, here are some of the ways to raise the necessary capital. Personal Loans Often the best, fastest, and easiest method to obtain money for a business venture is to borrow from relatives or friends. If your Uncle Harry is loaded with dough and he likes you, and respects your judgment, he is a likely candidate. Chances are you not only can get the cash, but also on very favorable repayment terms. This can be great, and thousands of businesses get started each year as budding entrepreneurs turn to friends and relatives for financial help. The only real negative here, if you have a friend or relative who is willing to lend you start-up money, is that you may find a wonderful friendship or relationship is in jeopardy if your business venture fails, and a debt goes unpaid. Partnerships If you have a sound business plan, and the knowledge to operate the new business, you have every right to seek capitalization from one or more investors by offering to share future profits with them. Such partners can either be silent or active in the daily operations of the new business. Some partners get involved in a new venture only because they put up all or some of the capital needed. Others get involved by investing their money and talent. CAUTION: Do not give away the farm without a second thought. Do not offer a bigger percentage (a partner can hold from a small interest, half interest, or a majority interest in the new business) than necessary. The deal you strike, and the percentage of the business you offer, is likely to be the one you will have to live with as long as the business exists. Partnerships can originate from friends and relatives, associates, or those you meet through a third party, such as a network group in your area. - 23 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Partnerships have been given a bad rap in many business circles because a large percentage of them do fall apart and end in failure. Still, many successful businesses are operated as partnerships. Venture Capital In every area of the county, especially in mid- to large-size cities, there are individuals, and groups of individuals, known as venture capitalists. These people are genuinely interested in investing money in either established businesses looking to expand, or exciting new business opportunities. Venture capitalists tend to be very shrewd. Money-making ideas may interest them, but they also demand substance. Before they will put their money on the table, they will want to know about your background, expertise, and how realistic your profit projections are. You will be expected to submit a detailed business plan that spells out precisely how you expect your business to be able to reach short- and long-range goals, over several years. Venture money providers also expect a big slice of the potential profits. They often demand over half the business in return for the capital invested. They are often ready and able to put hundreds of thousands of dollars into a venture that will make them profits. If you are working on creating a statewide business, or have dreams of going nationwide with your services, and it truly offers great money-making potential, this could be the only way to raise a substantial sum to get things moving. Even if you had to surrender 60 percent or more "ownership" (and always remember percentages are always negotiable), it could still be a very lucrative deal for you. A smaller chunk of a big deal is always better than a big chunk of no deal at all. Venture capitalists are often found in business groups and organizations (as an entrepreneur, you should join and become active in such a group or groups), through referrals from professionals (lawyers, accountants, business associates, etc.), or by finding ads in major daily newspapers and financial journals. You also can advertise your desire to obtain capital in such publications. Raising Money for Yourself If you are determined to maintain full ownership of your new business, it is up to you to generate the capital to launch it. I have already mentioned how friends or relatives can be helpful. However, what if you do not have a rich uncle, and your best friend is unemployed, or you are cash poor? If only a few hundred, or even a few thousand, dollars is required to get started, you may be able to quickly sell some personal items to get the necessary cash. Take a thorough inventory of every item you own, from an unneeded vehicle to those old golf clubs you seldom use. It is amazing how many articles the average person owns. Obviously, used items must be sold at a discount. Nevertheless, often substantial cash can be quickly raised from such sales. Make a list! If a larger amount of money, several thousands of dollars, will be required for your venture, harder decisions must be made. Do you believe in yourself and this business opportunity strongly enough to go into debt? Can you raise money from your credit cards? Is a financial institution likely to consider loaning you money? Is a second or third mortgage on your home a possibility worth considering? - 24 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- A good credit rating is an extremely valuable asset to anyone going into business. If yours is not in good shape (and millions of people do suffer under the yoke of a tainted credit history), get busy restoring your credit rating. It is easy to get your credit rating messed up; but it also is easier than ever before, thanks to new and fair credit laws, to clean up past mistakes. If you believe in yourself, and your business plan, do not give up. Money is available. It will take some effort, real determination, and a comprehensive plan to get your money, but you can do it! - 25 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- FEDERAL MONEY If you are serious about starting your own business, or if you want to expand your existing business, the world's largest source of business help is the Federal government. Each year the government gives to new and existing businesses close to $40 billion in free money and loans, over $600 billion in procurement contracts, and over $30 billion in free research and consulting. The following are government programs that offer low-interest loans or free grants for new and existing businesses. Business Loans to Low-Income Entrepreneurs: Office of Business Loans, Small Business Administration 1441 L St, NW, Washington, D.C. 20416, (202) 653-6470. Loans to Small Businesses that cannot get Financing Elsewhere; Office of Business Loans, Attn: Director, Small Business Administration, 1441 L St, NW, Washington, D.C. 20416, (202) 653-6470. Loans to Small Business through Local Governments: Office of Economic Development, Small Business Administration 1441 L St, NW, Washington, D.C. 20416, (202) 653-6416. Loans for the Handicapped to Start a Business: Director, Office of Business Loans, Small Business Administration 1441 L St, NW, Washington, D.C. 20416, (202) 653-6470. Loans to a Small Business for Equipment: Office of Economic Development, Small Business Administration, Room 720, 1441 L St, NW, Washington, D.C. 20416, (202) 653-6416. Loans to Vietnam-Era Veterans to Start a Business: Director, Office of Business Loans, Small Business Administration, 1441 L St, NW, Washington, D.C. 20416, (202) 653-6470. Loans to Businesses in Towns with Less than 50,000 People: Administrator, Farmers Home Administration, U.S. Dept of Agriculture, Washington, D.C 20250, (202) 447-7967. Loans to Businesses to Create Jobs: Deputy Assistant Secretary for Loan Programs, Finance Directorate, Economic Development Administration, Herbert Hoover Bldg, Rm H7844, Washington, D.C. 20230. - 26 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Free Money and Loans for Businesses in Economically Declining Areas: Director, Economic Adjustment Division, Economic Development Administration, Herbert Hoover Bldg, Rm H7217, Washington, D.C. 20230, (202) 377-2659. Loans for Indians and Native Alaskans to Start a Business: Director, Office of Indian Services, Bureau of Indian Affairs, 18th & C Streets, NW, Rm 4600, Washington, D.C. 20245, (202) 343-3657. Free Training to Help Small Business Owners Operate: Associate Administrator for Business Development, Small Business Administration, 1441 L St, NW, Washington, D.C. 20416, (202) 653-6407. Free Money for Economically or Disadvantaged Business: Associate Administrator for Minority Small Businesses, 1441 L St, NW, Rm 602, Washington, D.C. 20416, (202) 653-6475. - 27 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- STATE MONEY To determine how you can get a state government office to help you with free business start-up programs, contact one of the Small Business Development Center (SBDC) offices nearest you. If any office does not have what you are looking for, ask them to refer you to an office that may help. Alabama: Small Business Development Center, Alabama State University, 915 South Jackson St, Montgomery, AL 36195, (205) 269-1102. Alaska: Small Business Development Center 430 7th St, Anchorage, AK 99501, (907) 274-7232. Arizona: Arizona Enterprise Development Corporation, Development Finance Program, Arizona Department of Commerce, 1700 W. Washington, Fifth Flr, Phoenix, AZ 85007, (602) 255-5705. Arkansas: Small Business Development Center, University of Arkansas at Little Rock, 100 S. Main St, Suite 401, Little Rock, AR 72201, (501) 371-5381. California: Small Business Development Center, 1121 L St, Suite 600, California Dept of Commerce, Sacramento, CA 95814, (916) 322-5060. Colorado: Small Business Assistance Center, Colorado Division of Commerce & Development, Dept of Local Affairs, 1313 Sherman St, Rm 523, Denver, CO 80203, (303) 866-2205. Connecticut: Connecticut Small Business Development Center, 1800 Assylm Avenue, 4th Flr, West Hartford, CT 06117, (203) 241-4983. Delaware: Small Business Development Center, Bureau of Economics & Business Research, 005 Purnell Hall, Newark, DE 19711, (302) 451-2747. District of Columbia: Howard University Small Business Development Center, School of Business & Public Administration, Georgia Avenue & Fairmont St, NW, Howard University, Washington, D.C. 20059, (202) 636-5150. Florida: Small Business Development Center, Tallahassee Small Business Regional Center, 1605 E. Plaza Dr, Suite 1, Tallahassee, FL 32308, (904) 644-6524. - 28 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Georgia: Small Business Development Center, Georgia State University, University Plaza, Atlanta, GA 30303, (404) 658-3550. Hawaii: Small Business Development Center, The Hawaii Chamber of Commerce, 735 Bishop St, Honolulu, HI 96813, (808) 531-4111. Idaho: Boise State University, Idaho Business Development Center, 1910 University Drive, Boise, ID 83725, (208) 385-1640. Illinois: Statewide Program Administrator, Business Assistance Office, 260 E. Adams, Springfield, IL 62701, (217) 785-6174. Indiana: Indiana Institute for New Business Ventures, Inc., One North Capitol, Suite 420, Indianapolis, IN 46204, (317) 634-8418. Iowa: Small Business Division, Iowa Development Commission, 200 East Grand, Des Moines, IA 50309, (515) 281-8310. Kansas: Small Business Development Center, College of Business Administration, Wichita State University, Clinton Hall, Box 88, Wichita, KS 67208, (316) 689-3367. Kentucky: Business Information Clearinghouse, Kentucky Dept of Economic Development, Commerce Cabinet, 22nd Flr, Capital Plaza Tower, Frankfort, KY 40601, (502) 564-4252. Louisiana: NLU Small Business Development Center, College of Business Administration, Northeast Louisiana University, Monroe, LA 71209, (318) 342-2129. Maine: New Enterprise Institute, Center for Research & Advanced Study, University of Southern Maine, 246 Deering Avenue, Portland, ME 04102, (207) 780-4187. Maryland: Small Business Development Center, College of Business and Management, University of Maryland, College Park, MD 20742, (301) 454-5072. Massachusetts: Massachusetts Office of Business Development, 100 Cambridge St, Boston, MA 02202, (617) 727-4005. Michigan: Michigan Dept of Commerce, Local Development Services Bureau, PO Box 30225, Lansing, MI 48909, (517) 373-8430. Minnesota: University of Minnesota, Agricultural Extension Service, Small Business Development Center, Department of Agriculture and Applied Economics, 248 Classroom Office Bldg, St. Paul, MN 55108, (612) 625-4760. Mississippi: Mississippi Research and Development Center, 3825 Ridgewood Road, Jackson, MS 39211, (601) 982-6684. - 29 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Missouri: Missouri Department of Economic Development, PO Box 118, Jefferson City, MO 65102, (314) 751-4982. Montana: Business Assistance Division, Montana Dept of Commerce, 1424 Ninth Avenue, Helena, MT 59620, (406) 444-3923. Nebraska: Nebraska Business Development Center, College of Business Administration, University of Nebraska at Omaha, Omaha, NE 68182, (402) 554-2521. Nevada: Nevada Commission on Economic Development, Capitol Complex, Carson City, NY 89710, (702) 885-4325. New Hampshire: Small Business Development Center, 110 McConnell Hall, Durham, NH 03824, (603) 862-3750. New Jersey: New Jersey Economic Development Authority, Capital Place One, CN 990, Trenton, NJ 08625, (609) 292-1800. New Mexico: New Mexico Economic Development & Tourism Dept, Joseph Montoya Bldg, 100 Saint Francis Dr, Santa Fe, NM 87503, (505) 827-0300. New York: New York Department of Commerce, Division for Small Business, 230 Park Avenue, New York, NY 10169, (212) 309-0400. North Carolina: Business Assistance Division, North Carolina Dept of Commerce, 430 N. Salisbury St, Rm 2019, Raleigh, NC 27611, (919) 733-7980. Ohio: Small Business Enterprise Center Office, Ohio Dept of Development, 30 E. Broad St, Columbus, OH 43266-0101, (614) 466-5700. Oklahoma: Small Business Development Center, East Central University, 1036 E. 10th St, Ada, OK 74820, (405) 436-3190. Oregon: OSBDCN State Offices, Lane Community College 1059 Willamette St, Eugene, OR 97401, (503) 726-2250. Pennsylvania: Small Business Development Center, 3200 Steinberg-Dietrich Hall, Philadelphia, PA 19104, (215) 898-1219. Rhode Island: Rhode Island Small Business Development Center, Bryant College, 450 Douglas Pike, Smithfield, RI 02917, (401) 232-6111. South Carolina: Small Business Development Center, College of Business Administration, University of South Carolina, Columbia, SC 29208, (803) 777-5118. South Dakota: Small Business Development Center, South Dakota Chamber of Commerce, 2100 S. 7th St, Rapid City, SD 57701, (605) 394-5725. - 30 Copyright © H.B.CO.A. How to Make $500 a Week Typing at Home ---------------------------------------------------------- Tennessee: The Fogelman College of Business & Economics, Memphis State University, Memphis, TN 38152, (901) 454-2500. Texas: Texas Department of Commerce, First City Center Building, 816 Congress Avenue, Austin, TX 78701, (512) 472-5059. Utah: Small Business Development Center, 660 South-200 East, Rm 418 Salt Lake City, UT 84111, (801) 581-7905. Vermont: Small Business Development Center, University of Vermont Extension Service, Morrill Hall, Burlington, VT 05405, (802) 656-4479. Virginia: Small Business Development Center, School of Business Administration, George Mason University, 4400 University Drive, Fairfax, VA 22030, (703) 323-2568. Washington: Small Business Development Center, College of Business & Economics, Washington State University, Pullman, WA 99164, (509) 335-1576. West Virginia: Small Business Division, 1115 Virginia Street East, Charleston, WV 25301, (304) 348-2960. Wisconsin: Small Business Development Center, 602 State St, Madison, WI 53703-1099, (608) 263-7766. Wyoming: Wyoming Small Business Development Center, 130 N. Ash, Suite A, Casper, WY 82601, (307) 235-4825. - 31 Copyright © H.B.CO.A. OTHER PRODUCTS WE OFFER: To purchase additional eBooks, contact your eBook Distributor or the Home Business Center of America. We wish you the best of luck in all your endeavors. Copyright © H.B.CO.A.
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