starting your business from home successfully

To me, one of the strongest word in English language is this four words. “Be your own boss” nothing give more meaning and freedom to your life than it. Especially when you are running the venture from home.

But many aspiring entrepreneurs are met with a rude awakening upon launching their endeavors. Not only are they their own boss, but also their own human resources, talent acquisition, marketing, public relations, facilities, and events. The price to pay for unlimited freedom is a substantial amount of responsibility

You’ll increase your chances for success (and your enjoyment level) if you make your entrepreneurial efforts realistic and scalable. You don’t need to start small, but you definitely need to start smart. In the early stages, efficiency is the name of the game.

Our latest: Side hustle for doctors? Why they need one?

Perhaps you want to be a freelancer or consultant, or you could have your eyes set on other goals. Whatever you decide, seriously consider working from your home. In sports, they talk about home field and home court advantage, and that’s exactly what you can give your business when you base your operations out of a place that is stable and familiar.

Start with a homegrown plan

When starting your business from home, your plan will have a decidedly homegrown feel to it. For example, in the executive summary you can state some of the distinct benefits you’ll enjoy from working out of your home as opposed to an external location that would only complicate matters and add costs.

After you’ve written the executive summary, which serves as your elevator pitch, you can pick and choose from additional business plan section options such as:

The product or service you offer
Your financial projections
Your market analysis
Description of your management
Your marketing and sales

Running a home-based business will be a relevant factor in the creation of all these sections. And if you’re seeking financing, your ability to turn the location of your business into an advantage will attract the attention of prospective lenders and investors.

our latest:business basics all freelancers need to master

You’lll need a online home

A common mistake for entrepreneurs is to promptly purchase their domain, then forget to renew it when the time comes. You can prevent this by setting up autopay. If that isn’t possible, at least add a reminder to your calendar so you’ll always know when the renewal date is approaching.

To promote your business and protect your brand, you’ll also need to create accounts on Twitter, Instagram, Facebook, LinkedIn, and YouTube. You might not have plans to use these platforms right away, but it’s advisable to have the accounts in your control so that nobody else can create accounts to pose as your business.

get your home in order

As a home-based entrepreneur, you’ll need to enlist the help of as many digital tools as possible. Why? Because when you are burdened down by wearing too many hats, the likely results are a headache and the inability to turn your head from side to side. It’s a miserable way to live.

Modern technology has plenty of pleasant surprises that can automate tasks and simplify things for small business owners. The timesaving capabilities are huge, but you also shouldn’t underestimate the cost savings and reduction of human error.

Popular digital tools for home-based business include:

RescueTime (time management)
Mailchimp (email planning and management)
Hootsuite (social media posting and scheduling)
Deluxe (payroll management)
Marketo (sales and marketing)
QuickBooks (financial management)
Slack (communication and collaboration)
TripIt (travel management)
Quip (sales optimization)
17hats (project management)
Talk to other entrepreneurs to find out which apps and software solutions have worked best for them. If you can automate just 5-7 tasks a day, you’ll be amazed by how much it changes both your business performance and your outlook on life.

Successfully Managing Your Home Office
While working from home offers a fleet of benefits, it also brings its share of challenges. There are unique temptations when it comes to working from home, and without a clear line of demarcation between your private and personal lives, it’s easy for things to get blurred together.