There are many reasons why you may start spending more time at home; perhaps you’ve recently become a parent (congratulations!), or you’re in between jobs, or you’ve taken early retirement.
If you’re feeling the effects of no longer being in employment, why not bring work to your home? You don’t need to be a stock market investor or business whiz with a portfolio of Fortune 500 companies under their belt — if you’ve got an idea for a brand, there are some simple steps you can take to bring the idea to life from your own living room.
Start with something you know
To step forward on the right foot, you should pick a business within an area where you feel comfortable. Whether it’s a sector you’ve worked in previously, or whether it’s an area you’re personally engaged with, the more informed you are, the more readily you’ll spot opportunities and be able to engage other investors to drive the business forward.
You may not have had an epiphany moment where a new idea popped into your head, but that doesn’t mean a great thought isn’t brewing away inside your mind. To coax it out, be more mindful in your actions; when you come up against troublesome tasks, ask yourself how it could be made easier, simpler and better.
Once you’ve got your business idea in your head, you should sit down to draw up a business plan. The good news is this plan is best kept simple, so you don’t need to learn lots of business jargon to make it sound impressive. Communicate your mission clearly, and do your maths to see how much money you’d expect it to make in the next three and five years.
The key advice in these early days is to start small. Don’t bite off more than you can chew at first, stay modest with your ambitions and let growth pick up its own momentum.
Find the best partners
Getting support will be crucial as you develop your business. You may need to approach the bank, a think tank, or a private investor, so that’s when your strategic plan will be instrumental. You’ll also need to invest brand design; a crucial element which you should not overlook!
If you’re planning on selling goods from home, you’ll need a fully formed online store. Therefore, it’s vital that you approach an agency with an impressive catalogue of projects, such as Eventige, and work with them to develop an online service that both works efficiently and represents what you’re about as a brand.
In the early days, it’s unlikely you’ll have much of a budget for marketing. Fortunately, you can make great leaps yourself through social media and post SEO content on your website.
Go for it!
If you’ve been toying with the idea of launching a business from home, then you may as well strike while the iron is hot! Prepare yourself for an adventure; for giving over your house to boxes of stock, financial paperwork, and a flip-chart detailing your growth strategy, and the best of luck to you!