It has been observed that people who want to start a home based business would indifferently discuss it with friends or relatives, but they never get much further than that. So they end up dismissing the whole idea as not being possible when in reality they are just afraid; and one of the primary reasons of their fear in starting any venture is the lack of knowledge.As a rule of thumb, a thorough analysis is required at each and every level of a business start up especially if we talk about online business. Preliminary, you should examine your own skills whether or not you are filling the requirements of that job. After a self – analysis, you should be able to have a short term and long term strategic plan. It’s the backbone of every business plan that you should first define the vision, the objectives and the action plan consisting of steps to achieve short term goals and ultimately long term goals.Whether you are starting a new business or setting up an online company, these steps are essential. Having said that, the biggest step of starting a home based online business is the vision and the willingness to achieve it.Most of the time when people think about a home based business; they gather the requirement and talk to their friends and relatives. With the passage of time, the passion for business fades out. Unfortunately, they don’t pursue it further because of a potential risk involved in the process but they should understand the basic rule, the bigger the risk the bigger the reward. At the same time, setting up an online business entails a very small risk. They don’t just have the confidence in moving forward because they don’t know what steps they need to take.We are in the era of the latest technologies. All you need is a computer and a phone and you can start an online business from home or from anywhere in the world you could be. But to make a successful home based business is another thing. Currently, job hunters are anticipating a huge demand of skilled workers in online business but it is always important to DO YOUR HOMEWORK and partner with the best people in the industry. This is the reason why creating a plan to start a home based business or any business is a very crucial process.Creating a plan to get started is very important in order for you to have a successful home based business. So take the first step or you will be like the others that just talked about having their own home based business but never did. You have to simply take action and start doing something that will move you in the right direction.

One of the keys to succeeding in information product creation is to break the process up into discrete steps. This frequently isn’t an instinctive reaction for the typical information marketer. Especially on the internet where small sized learning products are the norm.

However, it is extremely important to your ultimate success. In fact, I would go so far as to say that if you don’t do this you probably won’t succeed… even when you are starting out let alone as you move forward.

Your product creation system should do this for you if only to help you to understand the overall task.

But why?

In this article, I’m going to ignore chunking and focus on the practical aspects. That’s not to say that chunking isn’t important. It is. It’s important to understanding and to learning the process. But while you can use the same chunks as you move forward, long term your focus needs to be on the operation of the system not the understanding of it. Unless of course you are constantly training new people!

So why is chunking important to long term use of the product creation process? (Yes, I know systems design uses a different term for this process but I’m not teaching you systems design. So I’m going to use the word learning content designers use.)

The first reason that having individual discrete tasks is important is one of schedule estimation. Frequently it is very difficult to estimate how long the total task of creating a product will take. After all, the size and type of the products matters as does the number of products in your product funnel. And those are just the most obvious elements. However, estimating a discrete task is often much easier. The total can then be estimated as the total of the discrete tasks.

Secondly, scheduling a large task can be problematic. However, by segmenting the task into a number of discrete tasks, you gain a much greater flexibility in scheduling. Not only that but as your business begins to add people you are able to schedule multiple people to the product creation.

Finally, segmenting a large task into smaller discrete tasks allows you to have much better control over the product creation. This affects two different areas — status and quality.

By segmenting your process into discrete tasks you are able to schedule and record the progress at much more detailed level. As a result you are more in control of the status of the product creation. You know what everyone is doing. When they should complete it. And how much it should cost. You also know exactly what has been done.

You also improve your overall quality. Instead of waiting until everything is done you can check quality as you go. This allows you to immediate react to low quality products without absorbing their costs. This means that you have less rework and your rework costs less. And if the product is not going to meet its quality requirement you will know about it in time to stop the development, change the requirement or fix the product.

In commercial real estate today, the property management process is quite complex. The larger the property and the tenancy mix, the greater the number of issues that need to be reviewed and controlled. This then says that you need excellent systems and qualified people to provide specialized property management services.

There are significant differences between managing Office Property, Retail Property, and Industrial Property. They all have factors of special consideration when it comes to property occupancy, operations and function. Yes, they all have tenants and those tenants need to be managed, and the function of the property is different.

Here are some tips to help you manage those investments today.

The property manager should be comfortable with property type. There is no point in putting a manager on to a property if they really do not understand the way in which it works and the complexity of the property performance. Choose the manager with care and precision. Monitor their skills and services provided to the landlord. Know that the manager is servicing the tenants comprehensively to remove any threats of income or tenancy disruption.

The income for the property is of primary concern. The income needs to be protected and that will generally be through enforcing established lease documentation. Those leases need to be understood and correctly policed. The critical dates from each lease should be merged into a diary alert system. Pay particular attention to rent reviews, options, lease renewals, lease expiries, and renovation requirements. The obligations of the tenant to the landlord need to be applied.

The income for a property will be a number of things. In basic terms it will be the rental, but there will be other things to look at including the recovery of outgoings costs from the tenants. Understand how the outgoings recovery provisions apply when it comes to each lease and tenant occupancy. Enforce the recovery requirements when it comes to all outgoings. Over the years I have seen many property managers make mistakes when it comes to outgoings recovery, and that will in turn impact the cash flow for the landlord.

The expenditure for the property should be managed to a budget. Throughout the financial year, there will be costs to the property; some are controlled and others are uncontrolled. The budget needs to remove the uncertainty from what could otherwise be a volatile cash flow. The property manager should be looking forward in cash flow capability to produce a budget that removes uncertainty for the landlord.

The maintenance of the property will be ongoing and driven from property usage and occupancy. The older the property, the more challenging and expensive the maintenance programs can be. The maintenance program will feed into the property budget from an expenditure perspective. Talk to the contractor’s in the property today to identify factors of maintenance and break down that can be predictable. There will also be capital expenditure items that will need to be identified and handled separately from a taxation perspective.

On a final note, care should be taken to preserve the relationships with existing tenants within the property. This will allow you to establish a tenant retention plan, and stabilize the income stream. Split your tenants into groups of desirable and undesirable occupants. Over time you can replace the weaker tenants with better quality tenants. That is why you have a tenant retention plan.
So these are some of the main strategies to managing commercial and retail property today. You can add to this list based on your location and property type. You will find that it is very helpful to have a checklist when it comes to property handover, and property management systems.