It isn’t just possible to start a thriving business in 2021, but you can do it from home. There are so many great business ideas that you can handle from the comfort of your office or even your bedroom. From selling physical or digital assets to taking your expertise freelance, there are many ways that you can get your own company up and running with minimal upstart capitaL.
Yes, not every business idea can be done at home, but if you can, there is no better place to get started. By starting your business from home, you can avoid much of the burden of cost, allowing you to start your business with minimal savings and, in most cases, keep working your day job until your idea takes off.
All you need are a few essentials to get started:
Create a Great Business
Though you likely already have a great business idea, it doesn’t hurt to really work through it and hammer out the details.
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Business Idea
Start with your business idea. Write it down, talk about it, and workshop it. While you are doing the rest of the suggestions in this list, it never hurts to explore and develop the idea further. A friend might give you a breakthrough, or a mentor might help temper your idea into a realistic, workable start. You can always build up to your dream, but it might not be feasible to start with absolutely everything. By getting to the core of what you want to do, you have a good starting point.
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Competitor Research
Always investigate your competitors. This isn’t because you are directly competing against them (don’t think of it as them vs. you) but instead use them as teaching tools. If you can, even see if you can learn about failed competitors who have gone out of business, so you can work out what was done to succeed and what you can do to avoid failure.
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Business Plan
A business plan in and of itself is just a page, maybe two pages long. The research that goes into it, however, is immense. You need to know your business idea, model, and how you plan to grow. With a great business plan, however, you can start with a focus that is essential to thrive and grow.
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Know the Legalities
Selling a few pieces of art doesn’t require you to start a business right away, but you will eventually need to start one. Know the legalities, and what you need before you start, so you always operate within the law.
Your Digital Presence
Now that you have the concept of your business fleshed out, you will need to start building your digital presence. Try to learn the basics of web design and marketing (there are many free tutorials and courses online) so that you create:
- A business email
- A website
- Social media
- Marketplace or other accounts
Improving Your Product
While building these, you will, of course, want to improve your product and your branding. Try to clean up physical products and to design custom packaging solutions. This is where really a bit of upstart cash can come in handy. There are many on-demand printers and distribution companies out there that can help you set up a great, professional-looking business through smart packaging solutions.
Invest in These Logistical Solutions
It isn’t just customer-facing solutions that you need. You need a product management system. This applies both if you are shipping out physical products and if you are selling digital products.
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Storage
You need two kinds of storage; one is digital storage, which is easy with a cloud account, as you can grow and expand the amount of space you have on your cloud account as you go. Do this at the start, and you won’t need to worry about losing your data in the future or having to port it all when you run out of space.
The second type of storage is, of course, physical storage. As a minimum, you are going to want a folio system to keep important bills and other information (that you should print out for your records).
If you are dealing with physical products, then you need to really invest. The more storage you start out with, the better. A wall of shelves and labels is a good way to get cracking with your business.
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Data Management System
Another solution you need, regardless of your business type, is a data management system. These sorts of systems keep track of absolutely everything you need and are essential to run your business as it gets bigger and keep track of things like costs, expenses, and revenue, so you can properly do your taxes.
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Parcel Reception
You want your parcels and mail to get to you, so if you don’t have a mail box already, it is time to invest in a iLoveParcels smart parcel box. These come in various sizes, allowing you to easily accept packages from small to large, depending on what you usually get. You never have to worry about a porch thief, or about the weather, ever again. They are weatherproof, strong, and look great when attached to your house.
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Mail
You don’t just need to worry about receiving packages; you also need to improve how you send them out. Investing in custom packaging for your products is a great way to improve your brand perception and loyalty, especially as you can design packages that work to keep your products safe and secure. Don’t forget labels and other essential products. By having a proper system for when you ship products out, you can continue to grow your business.
Building as You Go
You will find that as you grow and continue, your business solutions will come to you. That’s why you should never try to be too perfect when setting up your business. Your company will have individual problems and requirements, and only when you see them first-hand will you be able to properly create a solution that suits your company best.
