Want to run a business from home? Why wouldn’t you when there are so many benefits? It’s convenient, flexible and can be a lot of fun, and more and more people each year are taking the plunge and setting up their own venture. Have you thought about doing the same? Here’s how to go about it.
Decide on your business idea
First things first, you need to decide what it is that your company will be doing. There are lots of ways you can earn money from home, that are legitimate and earn well and can be a lot of fun too. Think of the existing skills you have, if you’ve worked as a designer, a writer or on a computer in any way throughout your career there would be a good place to start. You could set up a tutoring business where clients come to your home or you do your sessions via video chat. You could start something like a home based bakery or catering business. Consider your skills and experience, and go on a course or undertake some education if you need to before setting up.
Register your company
Once you’ve decided on what you’re doing and have thought up your businesses name, the next step is to register it so it’s all above board. You’ll usually need to set up as either a sole trader, partnership or limited company depending on what you’re doing. This also tells the tax office of your company’s existence so you can register to pay the right taxes.
Find a space to work from
Just because you work from home doesn’t mean you should do all of your work sitting on the sofa or from your bed. Not only is it bad for your back but it’s also bad for productivity. Have an area of your home that’s just for work, ideally a spare bedroom turned into an office but at the very least, a desk in the corner of an existing room. Once you sit there you know it’s time for work and can get yourself into the right head space.
Outsource some help
Finally, even if you’re a sole trader and running your business by yourself- it doesn’t mean you’re on your own. There’s plenty of help out there, and outsourcing certain jobs and departments means you can focus your time on the things you’re good at and enjoy. If you don’t know much about marketing for example, hire a professional marketing agency to deal with this side of things for you. With computing and IT, companies like https://www.realitsolutions.com/ can ensure everything is up and running the way that it should. When it comes to your tax and accounts, a company that specializes in this will be able tackle things far better than you will. You’re never going to be able do everything, so decide what your role will be and hire others to do the rest.
What kind of business would you run from home?