If you’ve been dreaming of running your own business like many others, you’ll need some helpful knowledge to be as successful as possible. Perhaps you know what type of business or what industry you want to be in, but you are unsure where to start. The information discussed in this article will be useful to making your business efficient and profitable.
A Step-by-Step Guide to Starting a Home-Based Business
Get a second number
Add an additional phone line or get a separate cell phone that is used specifically for your business. Doing this eliminates the possibility that a family member or someone other than you will answer business calls. Although your family members mean well, client phone calls should always be answered with professionalism.
Reliable internet service
Having a reliable internet service provider will be detrimental to the success of your home-based business, especially now. Because you’ll be operating from home, it is likely that you will have much interaction with customers and clients via email. Without a dependable internet source, you could really harm your business. Make sure to research various internet service providers before just settling on one though.
Be choosy
Promote products or services that you truly believe in. Develop relationships and find manufacturers who share the same values and work ethic that you do. You’ll put a lot of time, energy, money and effort into your business; thus, your belief in the products you plan to promote or sell will show in everything you do.
Network, network, network
To build your business and ensure its success, connect with other local or home businesses. Additionally, if you plan to run your business mostly online sign up for an affiliate program. This not only directs people to your site but promotes your product as well. Likewise, have links to other home-based businesses with whom you are networking. They’ll appreciate the returned support.
Hire a tax professional
Consult with a tax professional who has experience dealing with your business type and size. Because taxes can be so specific to different industries, including tax breaks and credits, it’s worth speaking with a knowledgeable professional in the field on this one. Skip the Google search on your own and receive a consultation instead.
Have a niche
Ideally, your home business should have a niche. This makes it easier (and better) for you to really grow an audience and advertise your company. With a little more of a focus, you’ll be able to reach out to individuals you think will be directly interested. You might be surprised at how well received your outreach will be, especially if you offer a free sample.
Get a domain name
Purchase and set up a website and use the domain name for all email correspondence. This will drive your site name into customers’ minds, making it more memorable. Along with enhancing your brand and legitimacy, it is a simple and subtle way to advertise your home business.
Have a dedicated workspace
You’ll need to have a dedicated workspace to keep distractions at bay. A home office will maintain focus, keep you organized and on track.
Many small businesses fail within the first year. While you need to be dedicated and passionate about your business, you’ll also need the right information. Without it, you may not succeed.
Looking for more on starting a business? Check out these other great articles
Here Are 5 Ways to Get Funding For Your Startup Business
Starting A New Business Requires Serious Efforts
Top Eight Mistakes You Might Make While Starting an Online Business
Are you planning on starting your own business this year? Share your thoughts and comments below!
Jenn Clark is a writer, PR specialist, entrepreneur, blogger and coffee enthusiast. A lover of laughter, traveling and cheese, she’s written about her life experiences here at suburbanfinance while at the same time growing other young professionals. You can find more of her work at Jennblogs.co.
Though it may not be this year, having a home-based business is my goal as it is more convenient later on than a typical 9 to 5 job and the income is much more. And, these tips are important especially on dedication and plan to make it work.
Every situation is different, but hard work and dedication are key! It sounds like you have the right mindset, and I have no doubts that you will absolutely make it happen for yourself. Good luck!
Nice blog, It’s well written. Thank you!
Thank you so much! Glad you enjoy. 🙂
Not so easy! You have to strict with yourself! Everything on schedule, no so much flexibility. If you think about it, it just an illusion of freedom with more money.
Thanks for your input! You definitely have a point, but I believe it primarily depends on the situation and the person. You do need to be organized, committed and hard working in order to make your own business work. There will be days where you will work 14-16 hours but then, after a while, you’ll be able to sneak in more of those four-hour work days we keep hearing about. 😉 Again, I think it mostly depends on the business structure, industry, and also the person. Thanks for commenting!