Is Creating a Home-Based Business for you?
It has never been easier to start creating a home-based business than now!
The advances in technology, especially the development of the internet over the last two decades have opened up a raft of business opportunities for people wishing to make a living by being their own boss. It is impossible these days to surf the internet and not see someone offering a product or service from the comfort of their own home.
The fact is there are millions of people out there making money and achieving success. So why couldn’t you do the same and, if you think about it, knowing this fact is so empowering, and so inspirational too. There is probably no good reason why you can’t do the same thing and carve out your own small enterprise.
It is pretty much a fact that if you wish to be successful in your life, then working for someone other than yourself is not the ideal way to achieve this. Others will make a lot of money off the back of your grunt and grind. You will take home your severely limited paycheck and strive to live within the bounds of that minimal reward.
You’ll live within your means if you can, but it’s not really all that inspiring is it? You won’t achieve the sense of fulfillment and excitement or indeed enjoy the potentially limitless spoils of running your own home-business. Yes, of course, you will have to graft, work smart and be a creative but the rewards will be all yours.
So, do you fancy quitting the Rat Race?
Well, there are one or two things you should consider before you plunge in and quit your job at the bank, or the mall, or wherever…
Have a Plan
Consider what it is that you are good at. There is no point in aspiring to set up as a plumber if you’ve never unblocked a sink or mended a leaky tap! Take stock of all your skills and think about how they would fit with specific home-based business models.
Perhaps you are good at writing or photography or know a lot about social media. If this is the case, then opportunities abound, and your potential customer base is enormous. You could set up a blog or a consulting agency based in your own bedroom.
That is only one example, but it pays to spend a little time and put some thought into this stage.
Think also about what you enjoy doing; it is pointless to commit to an enterprise which involves work that you absolutely hate!
Over time, we will be covering lots of business ideas and opportunities in our “Prosper” section so “watch this space,” as they say. Some of these businesses will be based on tried and tested principles, but others will be new, unique and creatively quirky like Bake a Dog a Bone for example.
Once you’ve decided upon the nature of your new venture, you will need to outline a more formal business plan. This will mainly be the foundation of your business and a blueprint for how to structure, maintain and grow it.
Useful Resources to help with Creating a Home-Based Business
Here are just a few websites which could help you with planning and getting your venture off the ground:
- The U.S.A. The U.S. Small Business Administration has lots of advice including start-up costs, funding programs, marketing, accounting, and local assistance.
- The United Kingdom. You can find lots of information relevant to starting and operating a Home Based Business in the UK at https://www.gov.uk/run-business-from-home.
- Canada. If you happen to live in “The Great White North,” a wealth of useful content relating to this subject is available at the Canada Business website.
- Australia. The Australian Department of Industry, Innovation, and Science have a vast repository of info at their site. Just click on the link in the usual fashion.
- New Zealand: If you happen to be a resident of the Land of the Long White Cloud then visit https://www.business.govt.nz/ for more advice on Creating a Home-Based Business there.
These are all useful starting points. I would suggest you take some time consulting the sites relating to the country that you will be operating from.
So, You’ve Done all the Due Diligence, What Next?
You have completed all your research, worked out the start-up and ongoing costs involved and outlined a stellar business plan. What should you do now?
Well, you have a decision to make.
You need to decide whether you have the discipline and “stick-to-it-iveness” to go for it! The endeavor will require hard graft, determination, mental toughness and a degree of risk taking.
The rewards, however, are many and potentially huge!
Ultimately, only you will be able to make this decision though.