The Balance Sheet is a snapshot summary of the assets, liabilities, and equity of your business at a particular point in time. For a startup, this would be on the day the business opens. Note that a new business will have no accounts receivable entries on the balance sheet. Note also that the Balance Sheet is much simpler for unincorporated businesses without employees. Income tax, pensions, medical, etc. are only applicable to incorporated businesses, as are Earnings/Retained Earnings.
If you have worked in a salon before or just know how to cut hair but do not have the capital to open your own business, you could start one from home. All you need to do is make sure you comply with all your state's requirements for opening a salon in your home. That said, once you've got yourself up and running, you could earn anywhere from $22,500 and up. You could also offer other beauty treatments, such as:
There are quite literally hundreds of clever ways to make money online. From taking online surveys, to renting or selling your old clothes, flipping your iPhone to someone in a different country, and even buying low-cost products locally, just to resell them for a higher price on Amazon. There’s truly no shortage of unique ways to make money online.
Have some extra space in your home? Turn that extra bedroom into a “bed and breakfast” room. If you live near any sort of tourist destination, you can try your hand at renting out a room through Airbnb or CouchSurfing.com. You may also find paid hosting opportunities in your community: Sign up to host exchange students, visiting professors to a nearby college, or hospital patients receiving long-term treatment.
Write pitches. If you have located a client for whom you want to write, send pitches, which are topic ideas for articles. Write pitches that not only show your expertise, but also demonstrate your enthusiasm for the topic. First, read the publication to which you are sending pitches to familiarize yourself with what they publish. If applicable, identify a specific section and send our pitch to the appropriate editor. Also, include a brief summary of who you are.
A good offshoot to starting a house cleaning service is home and office organizing. It’s not as competitive and commoditized. A super cheap / beginner home organizer starts at $25/hr, but $35-$50/hr is pretty standard. Even higher if you have a specialty (hoarders, ADD/ADHD, etc), are certified, have YEARS of experience and/or are based in a large metro area. You do not have to be certified, however. Starting as a house cleaner will definitely give you an inroad (as there is more demand in terms of volume and helps with regular cash flow). That’s how I started and eventually phased the cleaning out. Offering pre-paid discounted packages (with a contract) and taking deposits from 1st time clients helps to keep problems away.
If you have a propensity for writing and you can slay with your prose, consider writing an ebook. While the market has certainly become saturated as of late, books that help teach people about a technical topic still sell extremely well. This is a great source of passive income but does require a large amount of effort at the outset before any money is generated.