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How to Become a Home-Based Healthcare Consultant

How to Become a Home-Based Healthcare ConsultantConsultancy is one of the most adequate lines of business if you want to work independently from home. You need little equipment, your main assets being your skills and experience in your niche. Today we will show you how to start a home-based healthcare consultancy business.

What Does a Healthcare Consultant Do?
Healthcare consultants are hired by hospital and other healthcare companies to analyze and improve their operations and the way they run their business. The ultimate goal in a healthcare consultant’s job is to advise healthcare providers in a way which enables them to provide better services to patients and improve their bottom line.

This used to be a full-time position in the organizational scheme of most healthcare providers. However, the economic crisis and the need to cut back operational costs has determined most hospitals and other healthcare organizations to replace employees with freelance consultants. For you, as a potential home-based business healthcare consultant, this means that there is a thriving market where you can find customers and that it is not a short-term bubble, but it has the potential to provide you with a sufficient income for your family for years to come.

So, what does it take to become a home-based healthcare consultant?

Education and Skills Required for Healthcare Consultants
The minimum educational level required is a Bachelor’s degree, although many healthcare providers require a Master’s degree in one of these specializations:
⦁ Business Administration
⦁ Healthcare Administration
⦁ Human Resources

Management experience in the healthcare field is a plus, but not always required, especially if you offer your services to smaller clinics and other organizations. As for the core skills you must have strong communication and analytical skills, be good with math and be savvy in coming up with effective solutions. You must also be a good decision maker, with a high level of accountability for the outcomes of your proposed solutions.

If you recognize yourself in this description, you could be a successful healthcare consultant. If you want to work as an independent consultant, these are a few tips to set up your home-based business:

1. Obtain All Necessary Certifications
Each state has different certification requirements for home-based businesses when they are connected to the healthcare field. Even though your activities are not connected to providing actual medical services to customers, you will have access to various sensitive data. Thus, apart for the usual licenses for running a home-based business, you also need to hold specific data processing certifications.

2. Secure Your IT Equipment and Filing System
Apart from the legal certifications above, potential customers will also require you to sign non-disclosure agreements. They will also want you to offer proofs that you can keep their confidential data secure. Thus, you need to invest in effective antivirus solutions for your computer and all data storage devices.

While it is always recommended to have a separate computer for your home-based business and not allow your family to work on it, if you want to open a healthcare consultancy business it is mandatory. You will potentially receive financial and patient records from your customers and other confidential materials. No one but you must have access to them, not even read them.

3. Capitalize on Your Professional Background and Reputation
As we have stated above, being a home-based healthcare consultant is not a line a business you can take up overnight, but after years of experience in the field with a proven track record. This means that you must definitely have great networking skills and persuade your business acquaintances and, where possible, former employers to provide you with credentials and testimonials.

This is a line of business where reputation is everything, so take care to keep yours spotless. Be ethical and fair in dealing with all your customers and maintain good relationships with former co-workers or clients. A positive endorsement from any of them is the best marketing strategy for attracting new clients for your home-based business

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5 Lucrative Home-Based Business Ideas You Can Start in 2017

5 Lucrative Home-Based Business Ideas You Can Start in 2017The world of business is forever changing. Products and services in demand today may become obsolete tomorrow. At the same time, new and in-demand products and services appear, in line with people’s changing needs and interests. Knowing what is lucrative and in-demand ahead of time helps entrepreneurs adapt their business models and keep their companies relevant over time.

For home-based business owners, 2017 is a year in which both craft businesses and professional services are in great demand. There are no surprising changes from last year (so you can breathe out in relief) but there are some shifts in popularity among various niches.

This article is also aimed at potential entrepreneurs who are not sure if their skills and experience are a good fit for starting a home-based business. Without further delay, these are the most in-demand and lucrative home-based business ideas for 2017:

1. Affiliate Marketing

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2. Crowdfunding Consulting
Crowdfunding websites such as Indiegogo, GoFundMe and Kickstarter feature hundreds of thousands of projects. Some of them succeed, but many fail. And, among the successful ones, some crowdfunding projects fall apart in a very public and unpleasant manner, with negative legal consequences.

To avoid this, many people hire a crowdfunding consultant to advise them on the best way to formulate their project and ensure transparency and a fair treatment of all contributors. At the same time, potential entrepreneurs want to make their project stand out, be visible and have an adequate promotion on the social media and other channels to attract more contributors. All these fall among the scope of work of a home-based crowdfunding consultant.

3. Woodworking
From abstract services, we move now to a craft home-based business, more specifically to woodworking. There is an increasing demand for unique, handmade furniture, toys and decorations made of wood. People want to add a personal note to their homes and are willing to pay more for a crafted item than for mass-produced items. If you love carving wood and are good at it, this is the moment to open a home-based business and start making money from your hobby.

4. Social Media Consulting
The social media has long exceeded the status of an online forum for people to meet, share photos, and build conversations. It is a thriving world where businesses find potential customers, build relationships with them and advertise their products and services.

There are many unwritten dos and don’ts in social media engagement, and small businesses need advice or even a manager for their social media pages. As a social media consultant or manager, you can build a thriving customer base and establish your authority as an expert. In time, you can expand your business to publishing eBooks and hosting webinars.

5. Candle Making
Candles have appeared over 2,000 years ago and it seems that they are here to stay. No longer used as a lighting source, candles (especially scented ones) are now popular in spas, for creating a romantic atmosphere and for scent therapy.

Handmade beeswax candles are very popular, especially if you craft them in creative shapes and colors, adequate for various celebrations (Valentine’s Day, Easter, Christmas, etc.).

If you didn’t find your skill or hobby in this list, do not despair: you still stand a great chance to open a successful home-based business.

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Top Tax Deductions You Can Claim as a Home-Based Business Owner

top-tax-deductions-you-can-claim-as-a-home-based-business-ownerOne of the top characteristics of a successful entrepreneur is knowing how to make smart financial decisions. What is the right moment to increase equity? How much of the profit should be reinvested in the business? And how many deductions can be included in the tax return?

This last aspect is very important for any home-based business owner, especially during the first few years after you have opened your business. Most certainly, you will not obtain a lot of profit just after you set up your business, and then you are hit with a tax return amount which could put your finances out of balance. This large tax amount, to be paid in the first one to two years after you started running your business, is usually due to the fact that you did not include all the deductions you are entitled to.

The taxation law is complex, with slight variations from state to state, but there is an underlying rule in favor of all entrepreneurs: the money you spend on your business, for various aspects pertaining to it, can be deducted from the business taxes you have to pay. Today we will make a list of the most important tax deductions you should not overlook when preparing the tax return for your home-based business:

1. Initial Setting-Up Costs
When you open any kind of business, even a sole proprietorship, you have to register with the IRS for tax purposes and with your state authorities, depending on the local regulations. All these registrations and document submissions are accompanied by fees and charges you have to pay. These are deductible amounts on your first tax returns and you should include all of them.

2. Utility Bills
In the case of utility bills you have to be careful to include only the part of your home utilities which are used exclusively in running your business. It is advisable to conclude separate subscription agreements with internet and telephony providers in the name of your business. In this way, you will include the adequate amounts in your tax returns and you avoid inquiries by the IRS.

3. Insurance
All businesses must hold an insurance policy for general liability. If you operate a home-based business in which customers come to your house for meetings or to pick up their orders, you need to conclude a third party liability insurance policy as well. Besides these business-related insurances, as a home-based business owner you can also deduct a part of your home insurance, health and life insurance.

4. Equipment and Inventories
Every asset which you purchase to use in the course of your business is tax deductible. Such assets include furniture (if you have to buy certain items to furnish your home office), computer, printer, etc. Also, you can deduct the expense with various inventories and materials which you purchase to use in making your products or supplying your services.

5. Car Expenses
If you use your personal vehicle to travel for business, you are entitled to deduct a part of your costs with gas and parking fees. In order to avoid any kind of problems with the IRS, keep track of your business-related travels in writing, all the receipts proving the expenses and a written memorandum explaining why that trip was necessary for your business. It may seem a hassle, but when the tax inspectors start asking questions, you should have all your answers in good order.

As you can see, there are so many things you can legally deduct on your tax return and, if you use them correctly, the final amount to pay will not be as high as you fear. Whenever you are in doubt about the eligibility of any expense to be included in your deductions, hire a tax consultant to help you out.

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