5 Steps to Starting a Home-Based Business (guest blog)by Julia Mitchell
If you’ve ever envisioned yourself running your own business, it might finally be time to turn your dreams into reality. Being your own boss is a lot of work, but it also allows you to live life on your own terms and fulfill your professional goals. Nowadays, you can easily start a home-based business and stay connected with your team and your clients through the internet. If you’ve been brainstorming great business ideas, and you’re ready to move forward, here’s how to start running your business out of your home.
Set Up Your Home Office
Want to stay productive while building your home-based business? Start by setting up a home office space! You’ll want to purchase a few storage tools to help keep your home office organized, like a filing cabinet, floating shelves, and even small bins where you can keep random knickknacks.
Outline Your Budget
Before you dive into working on your new business idea, you’ll have to sit down and outline your business budget. Include everything that you’ll need to spend money on, from a domain name for your business website to potential salaries for future employees or contractors. You’ll also want to estimate your gross and net profit projections. Remember, you’re not likely to see significant profits right away, so keep this in mind while you plan your budget.
Market Your Services
Now, it’s time to start networking, marketing your services, and connecting with your very first clients and customers. Begin by creating a website for your business that explains which services and products you offer. You’ll also want to add a contact page so that people can easily get in touch with you.
Furthermore, you’ll need to set up business accounts on different social media platforms. When you engage in social media marketing for your business, you’ll be able to advertise to a larger customer base, which will help spread the word about your business and bring in bigger profits!
Hire Your Team
You may be able to handle the workload for your first couple of clients on your own, but eventually, you’ll want to build a qualified support team for your startup. As you get your business off the ground, you should consider working with freelancers. Many freelancers have extensive experience working directly with entrepreneurs and small business owners, and they’re used to accommodating flexible requests. You can find a freelancer to take on almost any business-related task, and if you’re looking for an office or administrative assistant with Google Suite Administrator experience, check out online job platforms to connect with qualified candidates.
Establish Communication Channels
When you hire remote workers, you’ll need to emphasize the importance of frequent communication. As you interview candidates, make sure to discuss which methods your team will use to keep in touch. Courageous Workplaces recommends looking for applicants who indicate that they will be proactive, reliable, and confident communicators.
As the manager of a remote team, you’ll be responsible for setting up your business’s communication platforms. Unitonomy suggests using an application like Slack to organize different conversations. With Slack, you can set up channels for the entire team or specific projects. You can also create a newsfeed to display important information that every team member should be aware of.
When you’re running a home-based business, you’ll be able to exert a higher level of control over your professional and personal life. With that level of control comes more responsibility, but if you’ve come up with a business idea that you’re truly passionate about, you’ll find that your work becomes more fulfilling. Putting in long hours feels much more satisfying when you’re bringing your entrepreneurial vision to life!