Chamber of Commerce
Home Based Business
(901) 504-0692
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National

National Membership Campaign

About Us

The Home-based Business Chamber was established in September 2008, although the official anniversary is November. 

The mission of the Home-Based Business Chamber of Commerce is to advance and promote the growth and economic environment for home-based businesses through services, education, development and networking opportunities.

The Home-based Business Chamber of Commerce seeks out those businesses who are typically overlooked by potential customers, vendors, and partners because of their lack of visibility.
 

Start a Chapter

The Home-based Business Chamber is looking for exciting enterpreneurs interested in developing a local chapter in your city or town. Become a part of this growing national organization.

Contact us for more information or click here to download the guidelines or submit an Application of Interest.

Member Spotlight

Business Affiliates

​MENTOR VS. ENTREPRENEUR COACH

What is the difference between a mentor and entrepreneur coach? Startups ask us to clarify this question all the time, so this is our attempt to outline the differences as we see it at ConVerge.

An entrepreneurial coach helps oversee all aspects of your business. Analogous to a medical internist, a coach is knowledgeable about the interdisciplinary activities needed to run a business or startup successfully. A coach helps entrepreneurs understand right/left brain activities by the entrepreneur. They assist in creating a strategy, diagnose problems and know where to find resources that are necessary to build a sustainable business.

An entrepreneurial coach ushers you forward towards the right resources with timing that is important in their role. They help orchestrate training and conduct start-up activities in the right order so that you do not waste time or money. Use of a coach can help mitigate risk factors or even failure that is often typical when starting a business from scratch.

A good coach may have resources to help benchmark your business operations against other similar firms in the same industry. They often become more deeply engaged in your business activities and become part of the team which can include payment for their services.

Conversely, a mentor is more industry specific. Coaches typically bring product or service expertise to an entrepreneur that they cannot achieve alone. A good entrepreneur mentor has started or implemented something new or has implemented change. They can often help address specific barriers, identify a market segment or establish a new sales channel.

A mentor is invaluable to the startup process, and many mentors volunteer their services often for free, but not always. At ConVerge we are fortunate to have several volunteer mentors who enjoy giving back, especially when it means helping entrepreneurs and students create a means for self-employment.

Working on a startup is both exciting and a bit scary. Some days can feel lonely and others exciting and to be shared, especially when you find your first customer!
If you are looking for assistance with your startup, we hope you will conclude that at ConVerge. Good coaches and mentors have walked in your shoes and can play a significant role in your business.

Is the Idea Worth Pursuing?

That is the inquiry we get most often at ConVerge. It is even harder when the question is raised a year or two after the founder incurred substantial time and debt, only to realize they started a business of despair.

There are low-cost preparations as part of your homework that you might consider mitigating the risk of a startup to determine if your idea or business venture is worth pursuing. Start by having a  deep understanding of your customer needs with lots of listening (and less talking) before jumping into the deep end of the entrepreneurial pool.

Visions for solutions to a problem are high and might make you feel good. However, launching a business without fully understanding customer needs first can be detrimental to your success.

This concept is best illustrated in Diana Kander’s publication All in Startup: Launching a New Idea http://www.dianakander.com/. She represents this message through the journey of an enthusiastic entrepreneur selling refurbished, high-quality bikes at discounted prices.

Here are four considerations she recommends we entrepreneurs understand because they are essential and a somewhat opposite approach to innovation:
Entrepreneurs do not fail because they could not build the product. They fail because no one wants to buy their product or service.People do not buy goods or services; they buy solutions to their problems. Entrepreneurs are detectives, not fortune tellers.Successful entrepreneurs are luck makers, not risk takers. 

Real entrepreneurs mitigate risk by going to market with facts, not feelings or emotions. The proof-of-concept is invaluable to determine whether your guesses are right or wrong. Test them in the real world. Ask customers questions about whether they want it, what they will pay for it, how it will benefit them and would they recommend it.

Whether a start-up or a corporate entrepreneur, resources at ConVerge can help to develop a Proof–of-concept process and give you the answers you need to feel confident. Validate before moving forward in the business or new product idea. We can assist in your investigation stage so that you find the right customers (or tell you there are no customers), satisfy their needs and more confidently understand if a venture or new product idea is worth pursuing.

Contributed by Martha Carney, Executive Director of the Chicago area North Central College, Converge Center for Entrepreneurship and Innovation.

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Home-based Biz Tip

TAXPAYER BILL OF RIGHTS

​The IRS has adopted a Taxpayer Bill of Rights as proposed by National Taxpayer Advocate Nina Olson. It applies to all taxpayers in their dealings with the IRS. The Taxpayer Bill of Rights groups the existing rights in the tax code into ten fundamental rights, and makes them clear, understandable, and accessible.

Copy link for the Taxpayer Bill of Rights: https://www.irs.gov/pub/irs-pdf/p5170.pdf​

Copy link for the Latino Taxpayer Bill of 
https://www.irs.gov/pub/irs-pdf/p5170.pdf#page=2​
 
PREPARING FOR TAX TIME
Often times home-based business owners and self-employed entrepreneurs miss several critical tax issues. There are many legal deductions available such as health insurance payments, home office deductions, charitable contributions, and more.

Common tax forms used by home-based business owners are Sch C Profit or Loss From Business, Form 8829 Expenses for Business Use of the Home, Sch SE Self-Employment Tax.

Visit the IRS website or browse their extensive video library.
 

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