Apart from office equipment you need proper involving,
storage facility and software. There are web based software for tracking orders
and outsourcing opportunities.
What
are Your Skills?
In assessing your skill level you could start with your
qualification. If you have a Bsc in accounting you could concentrate on
offering accounting solutions.
A graphic artist could offer logo design, advertisement
or monogram services. Developing the business based on your interest or
educational knowledge would provide an edge over your competitors.
Brainstorm
a Business Idea
The way to brainstorm a business idea is with people of
like interest. The business ideas should reflect your interest and services
needed in your geographical location.
There are lots of business possibilities such as craft
making, bookkeeping, consultancy and secretarial services. More includes web
development, graphic artist, voice over technician or blogging. Once you have
listed the ideas, narrow the field to choose a single niche.
Choose
a Niche
The first thing to do is to choose a niche. The niche
should align with your talent, certificate or interest.
Make sure you are passionate about the business or eager
to learn. Self employment is tough and you need hard work and dedication to succeed.
You also need lots of perseverance, innovation and entrepreneurial skills.
Office
Equipment
General office equipment needed for smooth running
includes a desktop computer and printer. Other equipment’s are fax machine,
scanner, and a landline.
You need stationeries such as pen, writing pads, bond
papers and pencils. You need a modem for internet connectivity, video
conferencing, digital voice mailing and other services.
Build
a Website
Build a website for your business by choosing a good
domain name. Purchase a host plan and design the website. If you have an
ecommerce site add products, description, price and shopping cart.
Make sure the website has an about us page, privacy
policy and contact information. Don’t forget to add a dedicated phone number. You
might need merchant services, drop shipment and other deliver systems.
Printed
Items
Printed items used by businesses include letterhead
papers, invoice, receipts and complementary cards. For advertisement purposes you
need flyers, billboard, signboards and posters.
- letterhead papers
- invoice
- receipts
- complementary cards
- flyers
- billboard
- signboards
- posters
Dedicate
an Office space
It is important dedicating a space in your home for
office work. Furnish the space appropriately with your laptop, printer,
scanner, phone and note pad.
- Laptop
- Printer
- Scanner
- Phone
- Note pad
- Stationery
- Modem
- Land Line
Home
Based Suitability
Not every business is practicable from home. Make sure
the business you choose is practicable from home. Browse online to find a list
of home based businesses based on your talent. Once you locate the business
make sure it has good profit potential.
Business
Planning
Many home based businesses fail in the first year after
implementation. This is because the business owner has not done adequate
research.
Find out if the product could provide sufficient income
and is popular. A good way to remain
solvent is to run a part time business alongside your home business.
Product
Pricing
The product pricing should be competitive and offer good
margin. To succeed the business owner should earn enough to pay utilities, rent
and make profit. Other considerations are internet connectivity fees, hosting
and domain name.
Write
a Business Plan
Once you have all the parameters write a business plan.
The plan should highlight product, pricing, advertisement and wages. The
product could have both online and offline applications. The plan would show
the viability of the business.
Advertisement
Advertisement is very important to the growth of a
business. That’s why huge conglomerates spend millions on advertisement. Use
newspaper advertisement, print and online resources.
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