If you’re fed of doing the 9-to-5 and seeing other people benefit from your efforts, or don’t think the idea of working for someone else appeals for you, there’s good news. More people than ever are starting their own business. U.S. statistics show 69% of entrepreneurs start their own company from home, with around half making it to their fourth year, and many owners cashing out and moving on, becoming serial entrepreneurs.
The fastest growing types of business include offering business services to other companies (11%), going into the food business, from making cakes at home to running mobile pizza/hog roast businesses to opening a restaurant (11%) to offering health and fitness or beauty services (10%). Whatever your aim in business life, there is plenty of competition, but also plenty of customers out there.
Your home business can be your sole focus, or you start running one alongside your day job, jumping on the so-called gig-economy bandwagon. There are plenty of ideas about starting a business or working from home, if you’re not sure what route to take. And the gig comes with many benefits.
Strike That Work/Life Balance
Many people start working from home for a better work/life balance, being more on hand for the family. Others find it a way to get out more (photographers, drone video artists, canvassers and so on). The ideal home working job can help fill in spare hours, give people a renewed sense of focus or simple help fulfill a burning ambition to be your own boss. Many find it a soul-saving way to avoid the stress of a current job or career.
A new business can use your existing skills, or help you develop new ones. Even traditional sounding businesses like a cleaner, hairdresser, interior designer or plumber are all in demand and with a college or practical course, can open up new avenues for anyone looking for a change.
Growing numbers of customers are used to people coming to them, or going to a house to take advantage of a service, and the growing trend toward local or artisan services is a boom whether you see clients physically or sell online to customers all around the world. The advantage of an online business is you can be represented or making sales 24 hours a day, using apps or existing selling services to compete on a global market.
Maintain A Sharp Focus
While some think that working from home is all about strolling around in your pyjamas and watching daytime TV, to make it a success, you will need to keep your eye on the ball. This includes setting targets and establishing ways to meet them, managing money, both incomings and outgoings, and looking for better deals from suppliers if that’s a part of your business.
You will need to win clients and keep them happy, perhaps find partners to work with, establish pitches and go to trade shows or events where you can spread awareness of you and your service.
Even if you’re not immediately wanting to start a home business, you can certainly start the planning now, looking at what competition there is in your potential markets, establishing the costs and saving towards funding or looking at what options there are to win some early investment.
To be clear, starting your own business and working from home can replace the stress of office life with a whole new set. But carefully managed and planned, your home business idea, from the smallest the grandest plan, can change your life and make it far better.