Thanks for reading our guide. Before you go, here’s a handy summary of ten things to remember when starting and running your home business:
Be honest with yourself about what you’re good at, and what you may need help on. If there’s something you’re not comfortable with, consider a freelancer or contractor who may be able to support you.
The success of your business at all stages will depend on whether you can keep on top of cashflow. Make sure that you are recording all income and outgoings, and also that you keep a regular eye on your balance sheet, the best chance of anticipating problems before they happen.
Who do you know, even indirectly, who might be a customer, an advocate or a contractor for your business? Relatives, friends of friends, you might be surprised at who can help you and how. Make sure you maximise the full potential of your network.
Social media is a great, low-cost way of getting your name out there. And it’s easy to get the hang of. Do your research and work out where your audience spends its time and which platform will be of the greatest benefit.
Wherever you are, there will be local business groups and networking events, often for free. The more people you can meet and tell about your business, the more new opportunities will emerge.
There are more services than ever now available to help people running businesses from home. Check out online networks like Enterprise Nation, Smarta and organisations such as the Federation of Small Businesses.
Starting and building a business is a tough but rewarding path. It will often be difficult and demanding. But every successful business has a story of how it once struggled and made it through. Don’t give up!
Whatever your business may be, it’s going to be a crowded market. Put yourself in the customer’s shoes and think what can you offer them that others don’t. What one thing will set you apart from the rest?
Running a business on your own, or with a small staff, means you have to cover a lot of bases, often at the same time. Plan your time carefully and make sure you aren’t letting important jobs like cashflow be forgotten in the rush for sales.
When you’re running a business from your kitchen or bedroom, it’s all too tempting to let the business take over your home life. Define and keep to clear boundaries to ensure that you can get away from the business when you need to.