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HOW TO START A HOME-BASED ONLINE BUSINESS: 11 BUSINESS START-UP GUIDELINES

HOW TO START A HOME-BASED ONLINE BUSINESS: 11 BUSINESS START-UP GUIDELINES


 The development of technology and the eternal quarantine restrictions are pushing people to look for new sources of income on the Internet. The World Wide Web can be an excellent tool not only for finding an employer, but also for creating your own business., especially since today you can even open an account without getting up from the couch (spoiler: the fastest and easiest option is at the Razvitie-Stolitsa bank , but more on that below). 

The 21st century is a unique time when scientific progress is changing the previously habitual way of life, allowing people of all social strata and all ages to create all sorts of online business options. The pandemic with its quarantines has further strengthened the integration of the World Wide Web into our lives, making the Internet an integral part of everyday life. Given these challenging times, it's time to think about how working online can improve our well-being. But before jumping into the pool headlong, it is important to explore all the pitfalls, weighing the pros and cons of the idea of ​​​​creating your own online business.


1. Learn the virtues of an online business

They say that every business starts with an idea. And below we will discuss ideas for starting a business from home using the Internet as a tool for promoting and selling goods and services. However, first you need to understand whether the game is worth the candle. 

Pros of online business


Let's start with the positive features of such an idea. What is good about online business and why does it attract so many?

1) Low cost. 

The cost of paying for the Internet is much lower than the cost of renting office space, retail outlets, etc. In addition, you do not need to pay for electricity, buy work computers for employees, buy furniture for the office, and so on. You do not even have to spend resources on creating your site, since you can use social networks or Youtube as a platform.

2) Wide customer coverage.

Suppose you decide to work as a tutor while in a tiny town. By working one-on-one, you will not be able to secure a wide stream of students. At the same time, the Internet gives the opportunity to earn money remotely by conducting lessons, for example, through video calls in Skype or other messengers.


3) Ease in finding employees.

The situation is comparable to finding clients. You can hire a person who will work from another city or even from another country. You can also conduct interviews and resolve work issues online. You can also transfer wages online. And the number of those wishing to work remotely is growing rapidly. Who wants to go to the office every day?

4) Low advertising costs.

The bigger your goals, the more advertising costs for a physical business. Online advertising is just as important and necessary, but more often it is much cheaper than renting a billboard or ordering an attention-grabbing sign. At the initial stage, you can completely reduce advertising costs to zero by negotiating with popular bloggers and groups in social networks about mutual advertising of each other for free. There is the concept of "word of mouth"   - marketing by word of mouth. The bottom line is that people learn about something not through the usual advertising, but from other people, often from acquaintances. It is noteworthy that such marketing is more credible than the most beautiful advertising on TV and the brightest billboard. And the effect of "word of mouth" on the Internet proved to be the best way.

5) No restrictions associated with offline business.

Oh, this is a huge list. You don’t have to spend two hours a day (and this is the minimum) on the road to and from the office, and you don’t have to spend finances on gasoline and transport, you don’t need to buy suits to look presentable at a face-to-face meeting with clients. Do you have small children who have no one to leave with? And there will be no problems, because. you can do things while looking after the child. Online business is one of the most popular sources of income for young mothers. What is your option? Then study the article on working on maternity leave .

6. There is no need to constantly communicate with people face to face.

Business is always a hassle. And the less we have to stand next to another person (who can turn out to be quite nervous), the easier it is to conduct business.

2. Learn the disadvantages of an online business

Online business has its drawbacks, which are just as important to consider. At the same time, factors that many consider the advantage of networking from home can become a disadvantage overnight.

Cons of online business

1. Abundance of competitors. The nineties and two thousandths have sunk into oblivion, when there were not so many sites on a specific topic, and some niches were completely empty. Today, there are no unoccupied niches in the Internet business. And although even a young startup has every chance to make a name for itself, it is not so easy to break through the thickness of already promoted companies on the move. Undoubtedly, there are more chances than offline business, but you still have to sweat.

2. Time for promotion.Let's say you decide to open a small pet store near your house. Everyone who walks down the street can see him. But on the web it's different. Until you make your way to the first pages of search results, even your neighbor who lives in the same stairwell will not know about your online pet store. Be prepared for the fact that you will either need to hire an SEO optimizer, or study the field of website promotion on your own and do everything on your own.

3. Urgent need for Internet access.We started our business, promoted the site - everything is fine, and then an unforeseen thunderstorm de-energizes half of the city, depriving you of access to the network. Meanwhile, customers are waiting for you to send them your product or conduct a seminar they have planned and already paid for. And how to be? Alas, relying on one provider is not worth it. We will have to think ahead of time about options in case of an emergency, providing ourselves with spare equipment and a springboard for working outside the home with Internet access.

4. Inflexible schedule. Many are eager to start their own business, firmly believing in stories that a free schedule gives their business. No matter how. You can choose to work “for your uncle” and you will go home exactly after 6 pm without any extracurriculars. And in my business there are no concepts "I'm tired, I generally have a day off, vacation, temperature."

Do you want high income? Then be prepared for the fact that customers will need a product or service five minutes before midnight on New Year's Day. None of us is able to be online 24/7, and therefore it is worth finding a partner or employee in advance to whom you can delegate part of the responsibilities.

5. Viruses and hackers.When opening a physical enterprise, you must secure your resources: install a fire system, install an alarm and / or hire security. But the Internet also has its own threats: malicious viruses and no less malicious hackers. Fortunately, not all online businesses are afraid of this attack. For example, a Skype-based online tutor can sleep peacefully at night, unlike the owner of an online store, whose site any smart teenager can ruin just for fun. Be vigilant, protect your personal data.

Conclusion: you will meet all these shortcomings or their variations in any offline business. Therefore, we can safely assure that the advantages of working online still outweigh its disadvantages.

3. Explore online business ideas

So, we have explored the pitfalls. Suppose you have clearly decided that you want to start your own business online, earning from home. But what exactly is the job to do? Of course, it is best to choose the area in which you are already proficient. However, you can turn your attention to something else. Here are some examples of especially popular and well-established online business ideas:

  • online stores;
  •  online cinemas;
  •  tutoring; 
  • product reviews;
  •  training workshops (cooking, makeup, do-it-yourself repair, and so on);
  •  information and entertainment platforms (magazines, news channels, etc.).
Different niches give different income, but they also require different costs. For example, an online store still requires expenses for warehouses (the goods must be stored somewhere). Product reviews can make a good profit on monetization, but you will have to buy what you intend to review. Online cinemas can be covered with a copper basin if you shamelessly use pirated content, ignoring the rights of the copyright holder. Repair lessons will also cost a pretty penny, unless you already do repairs on a regular basis.

Perhaps the lowest cost option is tutoring, because in this case you only need a computer, a headset and the Internet. But if you don’t know how to train people and don’t have charisma, then you won’t get far in this business either. Low-budget tutorials do well, like videos that teach the viewer how to cook or how to style their hair. But even here you need to buy at least a good camera and take care of high-quality lighting. In general, there is simply no single universal (ideal, not expensive and most profitable) option for everyone. Study your specific case and look for the option that is right for you. Still no ideas? Then take a look at our article on earnings in quarantine .

4. Connect with seasoned people

To quote one of my favorite cartoon characters: “I said that everything is cool, but everything is not as cool as I said it was cool” (c) Stan Smith. In our imagination, the idea may look very cool, we can passionately describe all its advantages, but without knowing the specifics of this or that area, we will simply plunge into a turbulent river unprepared. Having caught fire with the idea, talk to people who managed to realize it. They have already filled their bumps, and therefore their opinion is worth a lot: ask them about their mistakes, get advice. It will not be superfluous to read business books from successful entrepreneurs .

5. Plan smart


Enjoying a surge of joyful hormones from the bright prospects of working for ourselves, we ignore the bitter truth of life: not all plans will come true, expenses will be higher, and incomes may be lower. Take off your rose-colored glasses, business is no place for wild optimism. In this case, a sober head of a strategist is needed, ready for unforeseen aspects.

6. Protect your rear

Oh, how many times have I heard these sad stories: a man got tired of being an office plankton, read an inspiring article by a wealthy blogger, got excited about the idea of ​​​​creating his own business, proudly shouted “I won’t work for my uncle anymore”, quit .. Confident in quick success, got bail debts property in order to open a promising business and ... And suddenly it turned out that debts are growing faster than income and it’s still more than one year before the full payback of the business, but you want to eat right now. Such stories often end in divorce, loss of apartments, depression. No matter how cool the idea may be, do not rush to give up your current source of income. Especially if you are responsible for the well-being of your family.

7. Create a work area

Business from home does not mean at all that you can, in principle, not create an analogue of the office. You need a room, or at least a corner for business, where no one will pull you, where important documents will be under lock and key, reliably protected from the playful hands of children or the fangs and claws of your favorite pets.

8. Get your business in shape

So, you thought it all through, finally decided that you want to do business online from home, found an idea, made a business plan. How to run your online business? What to do next?

1) Register as an individual entrepreneur or LLC. First of all, you need to understand and accept the fact that working quietly without paying taxes is a dangerous undertaking. It is best to issue an IP - so you will sleep peacefully, without fear of the tax authorities, and the pension experience will drip. You have to think about old age from a young age. The abbreviation " IP" stands for "individual entrepreneur". An individual (or private) entrepreneur has the right to start his own business and run his own business. The nuances of opening an IP should be clarified, depending on where you live. If you have Napoleonic plans, things are already gaining momentum, then instead of an individual entrepreneur, you can register an LLC - a limited liability company .

2) Open an account for an individual entrepreneur or LLC. Business on the Internet requires a bank account - without this business, it simply will not work. Weigh all the nuances by studying the specifics of accounts for individual entrepreneurs and LLCs. For example, Razvitie-Stolitsa Bank , which specializes in settlement and cash services for businesses and lending secured by real estate, offers customers several options for opening an account for individual entrepreneurs and LLCs (take a look at this section). Of course, it is difficult to predict your cash flow ahead of time, it is better to consult with specialists in advance by choosing one or another account option.

9. Learn the specifics of SEO

Do not be too lazy to get acquainted with at least the basics of   search engine optimization  (search engine optimization). Even if you yourself do not plan to promote your services, goods or content, but want to delegate this task to a hired specialist or business partner. Keep your finger on the pulse. You will give your resources and time to this cause, you must understand how effectively your business is moving to the masses.

10. Take care of advertising

Whether it's billboards, peer-to-peer link exchanges, or word of mouth through friends, you need to make your potential customers aware of your existence. Do not wait for the weather by the sea, do not think that someone will find you. Advertise your business.

11. Save money

Keep bookkeeping, because money loves an account. There are many handy programs that help keep track of every penny of income and expenses and simplify our planning. When you start to receive income (especially after an acute lack of money), there is a burning desire to lower it right away, deservedly pleasing yourself for your hard work. It's just that you absolutely can't do that.

a) Allocate resources for depreciation. Do not think that the laptop you bought will work forever, that the provider will always provide Internet access regularly, that the camera or headphones will not fail. Pawn a certain amount of money to purchase everything you need to work in case of force majeure.

b) Create a "financial cushion".Business is always unpredictable. Today things can go from bad to worse, tomorrow you will find yourself in a trend. Or vice versa. Don't take things lightly. Keep yourself out of trouble by saving money for your life. Many people live one day and few people think about "financial pillows" , but it is they who help us protect ourselves from stress and difficulties in life .

c) Put money into circulation.Is there money for depreciation, have you created a “financial pillow”? Excellent! Now you can not only treat yourself to pleasant trinkets for your work or start saving up for large purchases, but also think about expanding your business. Part of the funds can be spent on optimizing the current enterprise or creating a new business. As the financiers say, eggs should be stored in different baskets. In other words: money should be invested in different assets.

We hope that our article helped you make important decisions. And if you have already created an online business, share your wise advice with us, dear readers. We are interested in learning about your unique experience.  




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