Everything You Need to Know About Starting a Home-Based Business

by Sep 23, 2020General Information

Whether you’d like to enjoy a greater degree of freedom than your full-time job offers, or you’re simply tired of commuting, the idea of starting a home-based business might be very appealing. If you have dreams of entrepreneurship, you may already be thinking about your next steps, from creating a long-term business plan to developing an eye-catching company website with the Austin web design agency QUIK Websites + Hosting. Before you dive right into the process, here are a few essential tips for building your home-based business from the ground up.

Becoming a Consultant

Many entrepreneurs who start home-based businesses engage in consulting services in some capacity. Even if consulting isn’t your primary offering, there’s a high chance that you will work with your clients as a consultant at different points. As you think about your ideal clients, consider how you could use your consulting skills to assist them. Ask yourself what problems your future clients will be trying to solve and how you could work with them to find the solutions. This exercise can serve as a basic, early business plan.

Forming an LLC

It’s important to think about officially forming an LLC early on if you’re launching a new business. With this business structure, you’ll enjoy limited liability, certain tax advantages, and flexibility. You’ll also have less paperwork to go through! To move forward with this process, you’ll need to file the Certificate of Formation. You can avoid substantial lawyer fees by filing this document yourself or utilizing a formation service. Just be aware that regulations for forming an LLC vary in different states, so make sure to research your local laws before getting started.

Must-Have Tools

You might be eager to start marketing yourself to potential clients already, but first, you’ll need to invest in furniture for your home office and a few helpful tools for your business! For instance, you should make sure that you have a comfortable office chair and a desk with plenty of storage space. You’ll need to check the strength of your Internet connection and upgrade if necessary. A strong Internet connection is crucial for video conferencing with clients!

Finally, consider investing in dual monitors for your workspace – according to eGuard Technology Services, using dual monitors can enhance your ability to multitask, allowing you to get more done during the workday.

Finding Your First Clients

It’s finally time to secure your very first clients! If you’re running a home-based business, there are plenty of ways to network without leaving your house. Set up your website with a portfolio of your work and a contact form before starting the process.

You begin by simply cold-pitching individuals or companies that you’re interested in working with. Due recommends explaining who you are, what services you offer, and why you want to work with this particular client. Do a bit of background research on the client first so that they can see you’re genuinely interested in helping them! You can also sign up for virtual networking events to connect with other people in your industry – you never know who might refer you to a future client!

Staying Productive

As you get used to working from home and running your own business, you may find it difficult to stay productive. It can be tough when no one is imposing a schedule on you! Do your best to stick to regular working hours, keep your workspace clean, and eliminate background noise so that you can stay focused.

Starting a home-based business can be a challenging process, but it can also be immensely rewarding. If you’ve been waiting for the perfect opportunity to leave your office job and begin running a business out of your own home, the day might be just around the corner. And best of all, becoming your own boss could be the key to achieving your biggest professional goals.

Guest post from Amy Collette at Bizwell
Photo via Unsplash

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