start work at home business

How do you start work at home business?

In simple terms all that is needed is some space and time, but it can be a little more complex than that once you have proceeded past the testing stage.

Testing stage?  What is that you ask.

With a slow considered start, you can test your idea.  An online business is especially suitable as it truly only needs time, some space for a computer or laptop and your enthusiasm.  Even better if you have a passion for your idea for a home business.

consider a slow Thoughtful pace

Before you head full on to start a work-at-home business, consider undertaking part-time if this is possible.  As a part-time venture it could be called a hobby, and much of what follows may not apply.  This means you can organize the elements needed over time compared to spending a lot of time getting the administration together.  This means you can work ON your business other than IN your business.

Some of what follows below is helpful when you are working part=time on your work at home business, and is very useful if you are setting yourself up for business.

To start a business at home consider ....

My lifestyle

Family and friends are important.  Consider how your work at home business will fit into the space you will use.  Will you have the necessary privacy to start your work at home business?

Attitude

In the early days you may be working alone.  Are you self-directed and independent?

Do you enjoy the social side of work?  Do you like to talk at the water-cooler? enjoy the company of colleagues?  Work at Home can be quiet and isolating.  Having said that you can organise to meet up with other work from home business people.

Consider how you may need to meet up with others.

Time and Family needs

How much time to dedicate per week?

The obvious question is the amount of time you have considering all that you want to do right now with family, recreation, friends etc.  Will your venture be part-time or more full-time?  Perhaps there are time constraints from family commitments.

If you ca, part-time can be an excellent way to test your idea for an at-home business.

Look at all these as you consider what you will do and how you will go about this.

Due diligence and testing your idea

If you need to commit money to start your work at home business, then time spent in due diligence to research the risks involved.

  • Research
  • Ask questions
  • Think three times before signing anything
  • Check out scams at SCAMWatch, Australian Competition and Consumer Commission (ACCC) and MoneySmart.
  • Remember there are no Get Rich Schemes - be wary of having to pay money to make money or that promise high returns.  Having said that, sometimes a tiny investment is wise to test an idea so you can better understand say your potential market.
  • Test your idea - I test all my ideas before I start and have found an inexpensive way to do it.

What do i need to start?

. A computer with basic Office type programs
. An Internet connection
. An eMail account

Once up and operating consider these also:

. Scanner facilities
. A mobile phone - a smartphone can provide remote Internet access as well.
. A suitable finance program for accountancy. Be advised by your accountant so you can obtain what is compatible.

space

Will you need a large space or a small space.  Is there adequate space in the house, under the stairs, in that spare room or will I need the garage or some other storage area.  Will I have lots of product needing storage?  Will I need a place to meet or to train?

Could I start in the local library?

In the beginning, to keep costs low, consider using an existing space in some manner.  Sometimes all that is needed is a corner for a table.

skills audit

What skills do I have that I bring to this venture?

There are Soft Skills and Hard Skills.

Soft skills are your people skills and are very important since you will be interacting and  liaising with your clients and customers.  Some examples include your interpersonal skills, your ability to read social cues, communication skills, and other qualities that assist you to interact with people.  Soft skills are very important today and will set you apart from everyone else.

Hard skills are the qualifications required to do the job. For example, computer skills, administrative skills, writing, or customer service skills.

Here are thirteen of the skills and values that I prize in business owners.  How many can you tick?  Think carefully, I am sure there are many.

1.  Professionalism.

2.  Honesty and Integrity.

3.  Adaptability.

4.  Problem-solving.

5.  Dependability/Reliability/Responsibility - able to reliably support your customers.

6.  Positive Attitude/Motivation/Energy/Passion.

7.  Self-Confidence.

8.  Self-Motivated/Ability to Work Independently.

9.  Willingness to Learn.

10. Leadership/Management Skills.

11. Multicultural Sensitivity/Awareness as your customer could be from any background.

12. Planning and Organization.

13. Teamwork - as you will eventually have a professional team that includes your accountant, maybe a legal representative, maybe a banker, and possibly in the future employees.

analysis

Undertake a SWOT analysis of your business idea.

A SWOT analysis enables you to consider the present Strengths and Weaknesses of the idea, and the future Opportunities and Treats.

Do you have a plan?

Map out how you will undertake your business.

Sketch out the big picture, and then what needs to be undertaken this month, in three months time, in six months time.

For an online business, this will be all you need in your first plan.

For a business needing funds and a bank loan, you will need a business plan.

Identify your GOALS and OBJECTIVES.

Map out your MARKET.  Who are your customers?  What problems do they have that you can solve through your business?

training and mentors

What training can you attend to give you he best skills and knowledge?

Who can assist you, or mentor you?  Is there a another new business just starting nearby?  Can you meet the owner over a coffee to talk shop?

Is there an established well run business nearby?  Do you know the owner?  Can you discuss business over a coffee?

Finance

If you have tested your idea and it is feasible, first try and operate it as a hobby.  During this time you can seek financial advice on moving it to a business.  Discuss your ideas with your accountant, and get advice about what accounting software you will need to work with your accountant.  Using their recommended software streamlines your communications and reduces costs.

Other topics for conversation will be:

. Loans
. Insurance

Also what legal aspects will require a legal specialist.

experts

You will eventually need a team on your side.  An accountant and possibly your legal expert or solicitor.


Now start work at home business

Do not procastinate.  At least TEST your idea, and don't let it just fall to one side in this busy world.  I have had good ideas in the past and got busy and never progressed them.  I regret this lost opportunity.

Test your idea!

Best wishes for your home business.

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