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Friday, December 20, 2019

4 Steps To Running Your Own Home Business

With so many of us choosing to walk away from the nine to five and start our own business, it is no surprise that this is something that you are probably considering. It offers you more flexibility, it offers job satisfaction and you can ditch those exhausting commutes. The problem that you might be facing is how to actually make the transition, which is why today we are sharing 4 steps to running your own home business.

The big idea
The first thing that you need to do is decide on the business that you want to run from home. There are endless possibilities here, so start by keeping an open mind and grabbing a pad and a pen.

Write down the first ideas that pop into your head, write down where your skills and experience currently lie, write down any jobs that you have always dreamed of having and then write down any businesses that you have spotted that really inspire you. Look back over your notes as somewhere within these scribblings is your big idea.

Once you've settled on what you would love to do, think through the practicalities. Does it fulfil your needs? Does it allow you to work the hours that you want to and from your home? If so, tick that box and move on to developing your idea.

Develop your business plan
Now that you know what you want to do, you need to start developing your business plan.

You need to come up with a name for your business, along with giving some thought to your business values and branding.

Work out the funding, equipment and products that you will need and balance that with your business projections to ensure that it is a viable option for you.

Once you have a working plan in place, talk it over with friends whose judgement you trust to get their feedback. You can then use that to further shape your plans before then seeking advice from a business advisor.

Arrange the practicalities
With your business forming in your mind, you can now form it in reality by arranging the practicalities.

You might need to arrange financing initially, and then you need to buy in any stock that you will need or any equipment that is essential for you to get started.

Register your business so that you are listed for tax purposes and get yourself a website set up before anyone else grabs your business’ domain name. Make sure you check for business names that are available for both websites and social media accounts too.

You should then ensure that you have the mechanics in place for people to work with you, so perhaps you need to look for the cheapest way to send money overseas or you need to set up some invoice templates.

Launch your business
This is the exciting part! Your business is now ready to launch so it is a chance to iron out any initial teething problems and then tell the world about what it is that you can do.

Set yourself up with a home office or work area and look for ways to make your home business look more professional. This will help you to feel like you are in business, along with creating the right impression for prospective clients.

Start marketing yourself using your website, social media and by getting out there and networking.
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