There’s never been a better time to start a home business, and with advances
in technology, there’s a whole host of professions and trades that can be
run from home, from chocolate making to fashion design to freelance writing.
You name it, it can be done.
The benefits
By starting your business from home you avoid the added cost of an office at a
time when funds are likely to be most stretched.
Cutting out the commute means the hours you invest in working are more
productive, freeing you to spend more time with friends & family and
doing what you love.
You are in control and have the freedom and flexibility to decide your working
hours and create the perfect environment in which to do it.
The first step
Whether you are starting out full time or holding down a day job and building
a business in your spare time, the first step, is always - coming up with
the big idea! To come up with one, ask yourself these three questions
1. Is there a gap in the market?
If you have looked for something and cannot find it others might be looking
too, so plug that gap with your product/service.
2. Can I utilise my hobby/passion/skill?
Thousands of people turn something they love doing (arts and crafts, pet care,
health & fitness) into a way of making a living.
3. Can I do it better?
If someone has offered you something that you think you could do it better
yourself, give it a go.
When answering these questions, bear in mind that the more niche your idea,
the better. Rather than aiming to sell all kinds of fashion accessories to
all kinds of people, think more about selling a particular kind of accessory
to a particular type of person. The more niche your business, the more you
will understand your customers and this will keep marketing costs low.
All out of ideas?
If you have run through these questions without success, why not buy into
someone else’s. There is a growing number of franchise opportunities on the
market, whatever your interest, be that travel, food or horticulture. With a
franchise, you get all the benefits of being your own boss whilst still
being able to pull on the support of a team. It’s self-employment, with a
twist!
An idea shared
People often ask if they should talk to other people about their idea. The
answer is yes, but with a word of caution. In the beginning, talk to friends
and family and the people you trust. Share your idea with them and ask for
feedback. Would they buy the product or service and how it can be improved?
Once you have developed the idea, discussing it with a broader audience is
less risky. If it’s your idea, no one can take it. Quite simply, they will
not see it through in the same way as you. So, go on, realise that vision.
Emma Jones is the founder of online home business company Enterprise Nation
(www.enterprisenation.com)
and author of Spare Room Start Up – how to start a business from home.
