Because of the pandemic, many businesses completely changed their business models. As you’re surely aware and had to contend with yourself, COVID-19 forced such safety measures as working from home. Many companies transitioned from working-in-the-office atmospheres to remote work models. For many entrepreneurs, the at-home business has become a mainstay.
Naturally, there are many advantages to working from home. You no longer have to worry about expensive and long, traffic-filled commutes. You can take breaks as you wish and eat when it’s convenient. But how do you get an at-home business up and running? Let’s take a look at a few important steps to take.
Determine the type of business you wish to run.
While it may seem obvious, the first and most important step to setting up an at-home business is to determine what it is you will offer. Remember that because the business is being run from home, it may be different than a business you may have operated from an office setting. If you’re starting out new, there are some important things to consider. As Nina Godlewski advises on NerdWallet.com, you need to ask yourself some pertinent questions.
What skills or talents do you have? How can these skills or talents translate into a business idea? Can this business idea actually be run from home? “It’s not only important to find an idea that plays to your talents, but also one that can be run from home,” notes Godlewski, “If you’re a skilled cook, you may be able to start a private chef business where your home serves as your office, but you may find it difficult (with laws and regulations) to start a catering business from home.”
Come up with a business plan.
How do you intend on achieving success if you don’t plan for it? You may have a profitable idea. But have you come up with a strategy on how to be profitable? According to Godlewski, writing a business plan is essential to the potential growth and progression of your operations. She recommends that your business plan includes some key components.
They are an overview of your business; a market analysis; a description of your product or service; a marketing and sales plan; and a financial plan and projections.
Set up a home office.
Naturally, you want to set up a location in your home that is conducive to completing productive work days. It’s important to designate a specific space in your home that is dedicated for work. That way, you can minimize distractions and keep focused on your daily business-related tasks. According to Jamie Johnson of the U.S. Chamber of Commerce, the room can either be an empty room in your home or just a designated corner in your bedroom.
“But you want to choose an area that will offer you a certain degree of privacy,” alerts Johnson, “Also, be mindful of the background, especially if you’ll have to conduct client calls regularly.”
Turn your PC into a POS terminal.
While working from home, you can still accept credit card and debit card payments from your customers and clients. It’s as easy as utilizing the Virtual Terminals service from Canadian POS to turn your computer into a payment processing machine. To learn all about it, call us at 1-877-748-2884 or send us a message on our Contact Us page!