Alain Guillot

Life, Leadership, and Money Matters

Starting Up A Home Based Business

Selling online is becoming easier and easier every single day from a technical point of view, because the infrastructure for dealing with online transactions, such as online shopping cart developers, is quick, easy to use, and inexpensive. It means that starting an at-home ecommerce business is more accessible to the masses than it has ever been, whether you are starting off selling baby clothes, handmade jewelry, or a marijuana venture.

This means that once you have identified the perfect idea, it won’t take you long to set up your own spectacular store. In addition to this, it is not difficult to keep on top of and keep running smoothly and efficiently. There are so many superb online, cloud-based services that integrate with other aspects of the business, and many of the processes, from inventory management and fulfillment, can be largely automated.    

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But if it is all that easy, why is there not a planet full of multi-millionaires walking about? Surely everyone would be setting up their own ecommerce site if it was as straightforward as that?

The reason is that there are a lot of players in the online and domestic business industry. Removing many of the technological obstacles to entry ensures that more people are likely to enter the market. This in essence means that it is far harder to break through the congestion to find faithful, paying customers.

Here are three tips to help you get ahead with your brand new home-based business

Know your market

If you do not know your market and have an understanding of what they want, you will not have a successful business. It really is as simple as that. Spend some time researching your customers and finding out more about them. What makes them tick? What is likely to drive them towards your business over your competitors? What is likely to drive them away? Send out surveys and questionnaires, set up focus groups, and so on. 

Put together a business plan

This is not just a tip, this is essential for any business, whether it is a start-up home-based business or a global corporation: put together a solid, well-thought-out business plan. This lays out your vision and goals for your home-based business and the time scale in which you hope to see success. Without one of these, you are also unlikely to get financial backing or investment to help you to get up and running.

Make sure your home is set up

To run an efficient home-based business, the first thing you need is a computer and reliable internet access. Without these, you have no chance. Ideally, you will also have a quiet space away from the hustle and bustle of family life to go and work in and space to store any stock that you may need to hold. You may also need to check with your landlord or mortgage provider, as well as insurance companies to make sure there are no covenants preventing you from working from your home. You may also want to give your neighbors a heads-up, particularly if customers are going to be coming to your house or you expect lots of deliveries and pickups.