According to Forbes, more than 52% of small businesses are being run from home and the numbers are rapidly rising. Why? Because there are a lot of benefits when it comes to running a business from home.
You get to save money on office space, traveling costs are reduced, bills and maintenance is not a problem anymore, employees can be hired and provided work hour flexibility or you can start a business all alone too. You won’t have to buy any equipment but just need a laptop, internet connection and a phone on your desk.
The most important thing that you will need to start an online business from home is an SEO friendly website, domain, and hosting, and lots of dedication and hard work.
A lot of people who start an online business also fail because of choosing a business category they can’t work well with or try to run a business side by side with a day job. The fact is running a business from home sure is easy but only if you are completely dedicated towards it and have your full concentration on it.
If you are still confused whether you should start an online business or not then here are some amazing reasons to why you should start it:
1. There’s Minimal Risk Involved
The first and major benefit of starting a business from home is that you won’t have to dig up your savings and rent a place out to start your business. Thousands of dollars are spared since you don’t need a brick and mortar place to begin with. You can start it in your bedroom or your garage just like Jeff Bezos, the founder of Amazon did in 1994.
There’s a lot of risks involved when you set out to choose a workplace for a business such as the neighborhood might be corrupted and violent, there might be lack of resources, the environment might be poor and not to forget repair and maintenance costs that greet you from time to time. When starting a business online, you won’t have to deal with these risks.
2. Easy to Start
Firstly, starting a home-based job isn’t much difficult because the investment is quite low. However, if you do require some money then bank loans can help you. You can get a business loan for up to $50,000 and pay it back in easy installments.
However, business loans are recommended only if you think your business will play big and will spread out rapidly, growing into a large business.
The advent of technology is next in line to make it extremely easier for people to start a business from home. Today, we have a plethora of automation software that can handle a lot of work for you on daily basis.
Lastly, communication is made quite vast and easy too. We can opt for video conference calls to get in touch with vendors,solve customer queries, talk to employees etc.
3. Income Potential
The income potential is much more when you start a business from home than work for a company or run your own from a physical place. There are no overhead costs involved that consume a large part of your profit such as utility bills, buying office equipment, paying for office rent, buying vehicles for deliveries etc. These costs are eliminated when you operate your business from home and get the most part of your profit after deducting a few factors such as shipping charges, marketing, employee salary(if hired) etc.
4. Work Hour Flexibility
If we compare a business that is run from an office and a business that’s run from home, which one wins when it comes to providing work hour flexibility? Business from home does. You can’t take breaks, give time to your family and do home chores while you’re at the office. However, when you work from home, you can take frequent breaks, give time to your family and distribute work hours as per your daily routine.
You can also work overtime or Sundays to enhance profits without worrying about extra costs that are associated with office running a business such as bills, traveling etc.
Now that you know why one should start an online business from home, here are a few tips on how to do it:
Tips to Start an Online Business
The success of an online business depends on a few factors such as the website made, products or service chosen for the business and the quality of service provided. If you want your online business to be a success then here are a few tips to know:
Choose A Business Category:
Another important aspect of an online business is to choose a category wisely. This requires to pick products that are in demand. To know what’s on high demand these days, visit forums and business pages to know what are customers buying in abundance these days and start with that category. It may be a clothing line, appliances, decor products etc.
Pick a Name and Get Registered:
Choose a name that speaks for your business and see if a domain is available in that name. You can buy the domain name and hosting from Godaddy or Bluehost easily after checking the availability of the name.
Next step involves getting your business registered. This is done online. You can fill out an application and submit it with registration fee ($25 – $50) to get it registered with your government.
Make a Top Notch Website:
As per WSI experts, customers prefer to buy from websites rather than from Facebook pages. Therefore, your first priority should be to build a website that’s user-friendly, SEO optimized and attractive.
- Pick A Relevant Theme: A website plays a vital role in making your business a brand. Therefore, your website needs to be relevant. If you wish to sell name necklaces online, you will need an ecommerce site. Whereas, if you wish to provide consultancy, you can have a simple professional site.
- User Experience: See that that website has a call to action button, search bar, menu bars, animation elements. These add up to the user experience and attract customers.
It’s important that you start with a plan and take your home business very seriously. You can also hire employees once the business begins to grow so that you can make more sales and earn more profit.
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