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The 4 Struggles of Working from Home - and How to Overcome Them
Home Based Business

The 4 Struggles of Working from Home - and How to Overcome Them

A departure from the daily grind of 9-5 can mean the freedom to choose your own schedule and save...

Me Time - Is it a work at home Mummy Myth?
Home Based Business

Me Time - Is it a work at home Mummy Myth?

This is a question I pondered today as my husband and I sit over our computers, run in and out of...

Work Inside The Box: The Rise Of The Shipping Container Office
Home Based Business

Work Inside The Box: The Rise Of The Shipping Container Office

Other than being a dedicated space for the running of business, an office is important because it...

4 Simple Steps to Grow Your Small  Business
Home Based Business

4 Simple Steps to Grow Your Small Business

Thinking about expanding the potential of your business? Owning a small business can be...

5 Vital Steps on How To Choose What Home-Based Business To Start
Home Based Business

5 Vital Steps on How To Choose What Home-Based Business To Start

The first step to starting your home-based business is knowing what kind of business you can do,...

6 Tips To Stay Focused And Boost Your Daily Productivity
Home Based Business

6 Tips To Stay Focused And Boost Your Daily Productivity

Busy, busy, busy. If there's one thing we can say for certain these days, it's everybody...

What insurance does a home business need?
Home Based Business

What insurance does a home business need?

So you’ve decided to start a business from home, fantastic! You get to work in your dressing...

6 Misconceptions in the Path of Your Home Business
Home Based Business

6 Misconceptions in the Path of Your Home Business

Every home-based business starts with a dream. As an owner, it’s your responsibility to take care...

Work Productivity: Are Your Environments Inspiring Or Expiring You?
Home Based Business

Work Productivity: Are Your Environments Inspiring Or Expiring You?

In last week's blog, I touched on how to continue improving our work productivity by investing into...

Top 5 Copywriting Tips and Hints
Home Based Business

Top 5 Copywriting Tips and Hints

Do you write as part of your job? Do you wish your writing had more influence and resulted in...

Home Based Business

A home based business doesn't require another premises, which allows business owners to cut down their overheads and offer more competitive prices. This can be a fantastic way to get a new business off the ground, as you will be able to beat your competitors on price and gradually raise your rates as your customer base grows. Whether you are buying and selling or offering a freelance service, a home based business can be a fantastic way to supplement your income.

What sort of businesses can be run from home?

If you are considering small business ideas, there's a huge range of services you can offer from home including web design and development, copywriting, content writing and blogging, graphic design, social media, art design, photography, application design and development and many more. You can even start a profitable import and export business from home, though these often grow to require additional space and staff.

Running a business from home is easier now than ever before – you could be making sales with as little as a website, an internet connection and a telephone. If you need a larger office space or access to meeting rooms, there are shared spaces that can provide you with one-off or ongoing access to their facilities at very affordable rates. Some home business owners even choose to route their mail through services like these, in order to secure a more prestigious postal address that conveys trust and credibility.

What should I consider before starting a business from my home?

Before starting a home business, ensure that you are well-versed in every part of your industry. How will you go about customer acquisition? Have you done any market research? What sort of advertising is most appropriate? Home based businesses are often startups, online businesses or small businesses, which begin with only a small amount of capital – therefore, it is vital you stay on top of cash flow management to ensure that your business is healthy and profitable. As an employee, you generally don't have to think too much about superannuation, insurance, taxation or banking, but all of these are important considerations when working for yourself.

Questions to ask yourself before starting a home based business:

  • Am I comfortable with the day-to-day management of a small business?
  • What is my plan for the first 100 days?
  • What is my goal in starting the business?
  • Does my home conform to the OH&S requirements of workspaces?
  • Do I have basic bookkeeping software to keep track of my income and expenses?
  • Do I know how to put together an invoice?
  • How will my customers find me?
  • Do I need a website?
  • Should I consider an eCommerce strategy?
  • Should I be using social media?
  • Starting a business from home offers many advantages, but it's equally important to understand your legal obligations – consider speaking to a business coach or legal professional to ensure you are meeting your reporting responsibilities and taking advantage of any incentive schemes or tax breaks available to you. Most small businesses employ accountants and bookkeepers to ensure that they have dotted their i's and crossed their t's come tax time.