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April 27, 2020
Guest Post Maria Cannon
Starting a home-based business is a dream for many people who’ve grown tired of chasing the workplace carrot, working hard and futilely hoping that it’ll bring advancement and financial rewards or parents who want to be close to their children during their formative years. Working at home as your own boss can be a liberating experience as long as you’re certain it’s the right move for you, and that you can make a go of it on your own. There are a few factors to consider before committing to a course of action that’ll separate you from a reliable steady source of income as you work to turn an idea into a money-making venture.
Is it for you?
This is a question that covers a lot of territory. For example, you need to be sure that you can work productively in a home environment. Some people need the impetus and accountability of a traditional workplace with supervisors monitoring things and periodically asking for updates on work projects throughout the day. For some, it’s the social aspect of working as part of a team that matters most. Are you able to tune out distractions such as the television, gaming console, or the lure of the golf course? Can you stay on course to meet a deadline even when the weather is beautiful and it looks like everyone’s outside having fun? Are you patient enough to see it through and stick with it until your financial earnings begin to pay off?
It’s important to make sure your finances are in good shape before committing to starting your own business. You’ll need a nest egg to fall back on, or you may need to keep working for a while as your business gets off the ground. In any event, your plan should include a major consideration of the finances that’ll be needed.
What’ll you do?
There are lots of ideas for starting a home-based business these days, especially with the opportunities made possible via the Internet and communications technology. A great many people who decide to go into business for themselves do so to take advantage of a skill set or experience. Remember, there’s nothing at all wrong with doing something you love for a living; it’s what motivates a great many people to give it a try. For others, a past client relationship opens the door for a business venture because it provides an immediate source of income. Or, you could spend some time researching business opportunities that can be launched and operated on the Internet.
Remember that marketing is an important part of starting and operating a business. One of the first things you’ll need is a catchy business name, something that prospective clients will remember and pass on to their friends and that will look good on marketing materials and set you apart from the competition on the Internet. Consider starting a blog that addresses issues and opportunities in your business area, and which you can use to promote your business. Don’t forget social media, an effective and widely used marketing tool. Create an appealing website that spells out what you do and provides pricing information.
A lot of business today is conducted online with people communicating via email, Skype, text or some other means. That doesn’t mean that the days of the physical office space are behind us. Home business owners need a dedicated office space where they work between the hours of 8 and 5, or whatever hours you establish. The equipment you’ll need includes a computer, copy machine, adequate desk space and a place to file physical records. Think of it as a space where you’ll observe strict work discipline, especially when facing deadlines. It should be separated from the television and other distractions. You can easily create a relaxing DIY office space with some green plants, scented candles and flowing water.
If your current residence doesn’t have room for an office or if your current workspace is too close to family distractions, you may want to consider making a move to a home that can accommodate your needs. Of course buying a home isn’t something to take lightly, so when establishing your home-buying budget, make sure to account for the cost of a down payment, your monthly expenses, and local real estate prices.
Starting a new business is your opportunity to start a new life and establish a new identity. Remember that preparation and an honest appraisal of your readiness to launch such a venture are essential to your success. Don’t be afraid to follow your inclination to try something you really love.
Courtesy of Pixabay.com.
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