5 Questions to answer before starting a work from home business

For many people a work from home business will be perfect. You are your own boss, you do not need to commute to work everyday, you decide on your working hours, and you can plan your day the way you want.

If you are thinking about starting a work from home business you need to start with a plan. Here are a couple if questions to get you going with your planning.

  1. Will I keep my current job? If you have a job, will it be possible to keep it (and the income) while starting my home based business? Can I start my business as a side hustle, and when it makes it enough money then only leave my job.
  2. Is there space? Just because you are working from home does not mean you can work anywhere. You need work space. This is a business and you need to have a place to work. It will be your work space.
  3. Are you ready for this? How much work are you willing to put in? A lot of it will be new. You might be scared. There will be failures. Are you ready to commit and make it happen? Ready to put in the time and work needed to be a success?
  4. Do I know how to market my home based business? Business means something must be sold. Someone must buy from you. Do you know how you will market your business? Will it be online? Offline? Both? Do you have a marketing budget? It is extremely important to have a plan and know how you will get customers. Also take into account the time it will take to make your first sale. Most people think this will just happen. It takes time and effort; and most times longer than expected. Plan for this.
  5. Budget, cash flow and money? How are you planning to finance your work from home business? What equipment or tools do you need? How much will it cost to setup and run on a monthly basis? What are your monthly expense? What is your profit margins? What sales will be needed? What is your budget?

I know these are not the easiest of questions to answer. Thinking about it and getting answers to these questions will help you a lot with your work from home business.

If you fail to plan, you plan to fail. Do some planning. Get answers to these questions. Develop your skills. It is a learning curve for every person going into business. Have the right skills helps a lot. In the world today digital skills are extremely important. We offer courses on:

Have a look at our online courses. We offer a range of course to help develop your digital skills.

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