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Last Updated on: September 20, 2021 by Joseph Muriithi
Is it your dream to work on your own terms and create a life of financial freedom? If so, then you’ve likely considered becoming an entrepreneur. You may already be thinking about factors like commuting to an office or renting a commercial space for your business idea, or probably starting a profitable online business at home. But we’ll stop you right there.
Building a business doesn’t have to be that complicated, especially if you’re just starting out. You can forget the commute and renting expensive commercial space altogether if you want to simplify things. Many of the best ideas require nothing more than a basic home office. This article, presented by Idea to Plan, will cover how you can build a profitable online business from the comfort of your own home.
How to Get Started with Your Online Business
A profitable online business at home is one of the easiest companies you can start. Quite often they have fewer startup costs than a traditional brick-and-mortar business. If you have a client-based business, you can speak to them from the comfort of your home using platforms like Skype and Zoom, for example.
Do you feel like you lack the business skills to start a business? There are plenty of e-learning platforms like MasterClass that offer a huge variety of affordable business courses and certifications from reputable schools, so do your research and start brushing up on your business know-how.
As a business owner, you must have a platform for prospective customers to find your product or service. This is why building a website is so important in this day and age. Plus, as you consistently create content, you’ll start to gain organic web traffic. If you’re on a budget, you may want to take advantage of a free website builder like WordPress.com, although hosting plans are quite affordable these days.
Having a proper social media strategy is vital in addition to your business website. Start by gaining an understanding of your target market and then building your audience on social media where those potential customers hang out. Be sure to reach out to any new followers you gain to start building rapport.
Last but not least, surround yourself with the tools necessary to get the job done. Consider investing in a business laptop, a reliable internet connection, office supplies (pens, paper, etc)., a charging pad for your devices, and anything else that can help you stay on top of your business.
Expand Your Business by Hiring Employees
When you first start, you’ll likely be working alone until you build a reputation for yourself within your target market. Once you start getting busy with your clients, you can begin to hire employees to work for you to help manage day-to-day tasks.
You may wish to hire a virtual assistant to help with administrative work or a social media manager to run your social accounts. That way you can focus on what you do best while outsourcing other time-consuming tasks.
Once you get to the point of hiring other employees, you’ll need to make sure you set up payroll. Small biz tools like software apps take the work out of paying your employees. Their automated payroll service takes care of the following:
- Automatic payroll scheduling
- Automatic calculating and filing of taxes
- Same-day direct deposit
Final Tips on Starting Your Online Business
Now that you know all of the essential steps to start your profitable online business at home, be sure you pick a niche that you know a lot about. Like any field, if you pick something you’re passionate about and stick with it, success will surely follow.
Need a Business Plan Written for Your Start-up or Business Idea?
Idea to Plan can help you create a business plan that will meet all your Business, Bank or Investor requirements. Contact us today by booking a free consultation below.