MAKING YOUR HOME-BASED BUSINESS WORK

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The idea of setting up a small business, to run from home, is growing in attraction – with people wanting more flexibility in life to juggle all their commitments. It can work out well, but for some, it can be a recipe for disaster. So, how do you launch a successful home-based business and make it thrive? Here are some tips on things you can do to put yourself on a firm footing.

 

Is home the right option?

 

Once you’ve come up a with business idea which you think will work, you need to set your thinking on whether it’s viable as a venture to run from your home. For example, do you have enough space in your house or apartment to accommodate you and any equipment that you need? Will you be far enough away from any potential distractions, to ensure that you stay focused on the job at hand? Will you ever have to see clients? Could they come to your home?

 

You also need to think about any licenses or paperwork you might need for running your business from home, apart from the usual tax and governmental requirements. For instance, if you’re going to be preparing food of any sort, you’ll have to get your kitchen and hygiene skills vetted and approved.

 

As an individual, you’ll also want to consider whether working from home is the right thing for you. Have you always been in an environment with lots of other staff up until now? It could come as quite a shock when you find yourself going to work on your own each day.

 

Know what you’re doing

 

It happens often, people setting up their own home-based businesses thinking that they know everything about running a company – when in fact they don’t. They start to realize when they hit problems or struggle to overcome difficulties in areas of the operation – and that can be at a personal and financial cost.

 

You should get yourself a mentor – someone who’s an expert in the field, who can advise you on the running of your venture. They will give you an independent view of what they think is working and what isn’t.

 

You should also be thinking about your own personal level of skills and knowledge. Are you a good all-rounder, or do you struggle when it comes to marketing and accounts? Have a look at training options, including home learning courses.

 

Build your profile

 

Running your business from home means, of course, that you don’t have a shop window to bring in customers. So, you need to concentrate hard on how you are going to reach your potential clients, to sell them your products and services.

Digital marketing is a big part of this. You need to have a great looking website and be active on social media – posting regular content to attract people to your company name. You don’t have to spend loads of cash on this, but it is an important area of the business which could ultimately make the difference between make or break.

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