Start a Home Business

Edited by Maria Sharon Ubando, JMA, Lynn, Graeme and 2 others

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You don't have to be in a nice and expensive brick and mortar establishment just to be in business. In fact, you can get started right at your home with little to no capital at all. With the right strategy, tools and marketing, you can be a business owner and be your own boss.

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Always bear in mind that venturing into a business, whether big or small, is a risk. All businesses go through a stage where you almost can't see where your profit goes, but then again, that's a part of having a business. It is very important then that you understand the flow of business so you know the adjustments that you need to make.

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Ready to have a business of your own? Here are some tips on how you can get started from home.

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Steps in Getting Started With a Business From Home

  1. 1
    What do you want to offer
    ?
    Eng
    Decide what service or goods you want to sell. When you decide on which you would like to market, it should also be your expertise. Being an expert or pro in the business you would like to engage in is best. Also, check whether the services or products you will be marketing can be offered all year round or just seasonally. Of course goods or services that are needed by consumers the whole year make a better option.
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  2. 2
    Know who your market is
    .
    Eng
    You should know who your prospective consumers are. Understanding the market will help you design your products and services according to your prospects' needs. Age, gender, lifestyle, and occupation are just few of the aspects you need to look onto.
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  3. 3
    Know your competitors
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    Eng
    It pays to know who your competitors are. This way, you know where to improve and what you can add to your business. Knowing your enemy will help you get fully geared for the battle.
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  4. 4
    The Name Counts
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    Eng
    Your business name can make a very big difference. You might have heard of businesses with unusual names, and they stick in people's minds. The more unique the name is, the longer they stick. Make it catchy and you'll draw more attention.
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  5. 5
    Prepare Your Business Place
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    Eng
    Make sure that your home is ready to be your business center. If you plan to start a homemade cookie business, be sure that it is clean, well ventilated and of course safe. Allot a place for business and a space for the family. Preparing for the business permit goes with the business place preparation. Be sure that everything has been ironed out before you officially start with the business.
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  6. 6
    Determine Your Capital
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    Eng
    Do you have enough capital for the business you are planning? Even if you have to start a business from home, you still need to get equipped for a more efficient operation. Again, business is a risk and you can't invest all that you have. Set aside an amount which you can use for the business, making sure that you still have some extra cash left on the side.
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Don't get overly anxious about starting your business. Take time to understand the business flow and concept. Learn the market and when you think you really are ready, then that is the time for you to hang out your "Open for Business" sign.

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Things That Bosses Should Avoid Doing

Ultimately, being a boss is a huge responsibility. Nobody claims that taking responsibility over an entire team, department or company is a privilege. Yes, there are privileges that a boss gets to enjoy, but the burden on your shoulders can also be overwhelming. You should always bear in mind that the survival or existence of the company is in your hands. Therefore, there's just too much at stake if you fail. Your failure could jeopardize your investment and the work of your employees.

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However, not all bosses turn out to be good leaders. Most bosses are highly regarded because they know the right things to do, but not all bosses are good at empowering people. Nevertheless, a boss could be remarkable on one of two different sides of the spectrum. A boss can be remarkable because his employees love him, or he can be memorable because his subordinates hate him. If you want to achieve the latter, you could never go wrong by embodying these attributes. In contrast, if you want to make your mark as a leader who brings out the best in his or her subordinates, make sure you wash off these traits even in their earliest signs.

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  1. 1
    Being a micro-manager
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    Most bosses who are guilty of micromanaging would even deny that they practice this habit. If you want a sure-fire way of demoralizing your employees, micro-managing would be your best bet. If you feel a compulsion to dip your fingers into everything your employees do and decide on, then you are 100 percent guilty of this habit. This habit is counter-productive for both parties. It makes employees feel that their boss does not trust them. They then may end up getting discouraged from taking their own initiative and will just do whatever they are told to do. This reluctance to take initiative will translate to mediocre quality of work. Consequently, the boss will just get angry and annoyed. This will start a counter-productive and mutually damaging work cycle.
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  2. 2
    Focusing on minor details rather than on overall performance
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    This habit is usually practised during performance evaluation sessions. Some managers tend to focus on minor, but negative actions and behaviours of the employees, such as being 10 minutes late, or not being able to report for work during a holiday. Because of these minor blunders, some managers may disregard the overall outstanding performance of the involved employee. You should be realistic and humane enough to acknowledge that you do not have perfect employees and you are not a perfect boss either.
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Referencing this Article

If you need to reference this article in your work, you can copy-paste the following depending on your required format:

APA (American Psychological Association)
Start a Home Business. (2015). In VisiHow. Retrieved May 25, 2017, from http://visihow.com/Start_a_Home_Business

MLA (Modern Language Association) "Start a Home Business." VisiHow, visihow.com/Start_a_Home_Business Accessed 25 May 2017.

Chicago / Turabian VisiHow.com. "Start a Home Business." Accessed May 25, 2017. http://visihow.com/Start_a_Home_Business.

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Categories : Noindexed pages | Business & Management

Recent edits by: estrella sacragon, Graeme, Lynn

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