Starting a business from home is an astonishingly rewarding as it includes many benefits like saving on office rent, flexibility, increased productivity and lesser complex model. In fact, statistics have revealed that the chances of home-based businesses succeeding are 30% higher than other small start-ups. Hence home business seems to be an attractive business option.
If you are considering starting a business from home, we have provided below an ultimate checklist;
Before Starting the Business- Checklist:
You just cannot wake up one day and decide to start a business. there are several pre-requisite things which you need to do before venturing into a home business;
- Evaluate if you are really ready and committed to start a home business.
- Talk to an expert to set all the right expectations.
- Sign up for a business course that will help you specialize in this field.
- Research the market and decide the business which you wish to set foot it.
Legal & Financial Needs Checklist:
Every business has certain legal and financial needs hence below is a checklist of the same;
- Hire a lawyer to register your business and take care of all legalities.
- Reach out to a bank to open a business bank account and also get a business credit card.
- Workout a business budget based on the money you will need to spend on advertising, supplies and hiring interns.
- If you are not self-funding the company, work out from where you will arrange for the funds. Are you planning to apply for a loan or look into an investor? Or are you planning to earn the capital by engaging in profitable investment options? According to de.thebitcoinscode.com, many individuals nowadays are harnessing the benefits of earning quick profits by trading Bitcoin due to the volatile nature of the market which provides high return rates, despite them not being a pro by using accurate trading software.
- Initially, an excel sheet would be enough to keep a track of your finances but as your business grows, you need to start using a finance software.
- Look into the various options of small business insurance.
- Hire a CA to do your taxes for you.
Grow Your Web Presence-Checklist:
Websites are not just for large companies nowadays. Even if you are working from your home, creating your website to build your web presence is important. Do the following;
- Register your Domain Name.
- Purchase web hosting.
- Build a website using WordPress or Weebly.
- Take the help of web developers to create a professional site.
- Create your business email account.
- If your business requires e-commerce, set up an online shopping and payment options on the website.
Home Office Checklist:
- You need to list your business address, but you may not want to make your house address public hence instead you can use a PO Box number.
- Reserve an office space in your house and design the workspace as per your requirements such as a desk, a comfortable chair, laptop, printer, proper lighting, and enough electrical points.
- Use a different phone line for your business landline number as you do not want your home phone line to be engaged.
- Your laptop should be only used for work and not as a family computer.
- Get all the necessary software on your laptop along with Office 365 and antivirus software.
- Get an all-in-one printer that can print, scan, fax and copy, this will save your time and money.
Starting a home-based business was a big deal earlier but in today’s world when entrepreneurship is on the rise, if you do not wish to invest in an office space, alternatively starting a business from your home is a great start.