If you are interested in escaping the rat race and taking full control of your career, you might be interested in setting up your own business. You can do this from home, and there are a few choices to consider here. But, you do need to be smart. You need to understand what each business entails, what you’ll have to take on and what your responsibilities will be. There are quite a few of them, and if you don’t know the steps and actions you must take, you will find yourself quickly out of your depth and in a fair amount of trouble. Today, we’re going to look at three different businesses you can set up from home, the cost, the concerns, and the benefits.
Log A Blog
The first option is blogging. There are many different types of blogging including video blogging. But typically, you will start with articles built into a blogging platform like WordPress.
The first question you should be asking is the easiest one to answer. Can you set up a blogging business for free? Yes, you can, but should you? That’s a completely separate question and one that you do need to think about carefully.
The problem with blogging as a business model is that it only works if you can find an audience. To find an audience, you need to make sure that you are getting their interest and they do notice your blog. In other words, you need to expand your reach online. Starting off, you can probably live off your social followers on profiles like Twitter and Facebook. But eventually, you’ll need to look at expanding to a larger community of readers.
There are a couple of choices to consider here. You might want to think about adding some tags to your posts. This is a great way to get some attention, but typically only from other bloggers. Not a bad way to build links but you also want the online users who aren’t members of your blog community. For that you need SEO, and this does cost money. Expect to pay a couple hundred in SEO to get your blog the attention it deserves.
Can you build up a blog purely by using great content? Yes, you can, but it does depend on how long you’re willing to wait. If you are happy with your blog taking months to become monetized, writing quality content is a great way to do it. Otherwise, expect a bill for SEO and you should probably think about paying a couple hundred each month once you do start earning.
This isn’t the only bill either. The blog needs to be fast which means hosting is necessary, and it needs to look unique. So, you should consider investing in a great design service. Once you have done this, you will be on the right track to make a lot of money from your blog.
Ecommerce
What is ecommerce? E-Commerce is the sale of any service or product. For now, though, let’s talk about selling actual products. Selling services becomes a lot more complicated because then you need to think about hiring a team of staff. You probably don’t want to make your model complicated with payrolls and such. Believe it or not, when you run an ecommerce company, you can do it without a team. Instead, you can run it as a solopreneur which is very useful. But, there are still bills and services that you need.
For instance, you need to handle the logistics side of your company. Now, you can do this through an outsourcing service like Fulfilltopia which will also allow you to keep the costs low and make management a lot easier. But, you will probably be looking at spending at least a few thousand to get this business venture up and running. Don’t forget, this isn’t like a blog. Here, you will have customers, and that means you need to think about purchasing security software as well as everything that comes with a blog. So, basically, it’s like taking on an entire full business as an individual. That’s a lot of work. But, it might just be worth it. Running an ecommerce is a little different from a blog because it allows you to take on the full aspect of your business.
Of course, the issue with building an ecommerce site is that you do need to worry about customer perception. If the perception from customers is negative, then it will obliterate your chances of making profits or remaining profitable at all.
The bottom line is that the ecommerce business model is about budgeting. It’s about making sure that you can fit everything that you need into your spending does not end up in with your company in the red.
You also need to decide what to sell. There are a few possibilities to check out. For instance, you can think about choosing to sell clothing. If you’re into fashion, this could be a great choice. By selling clothes, you don’t need to worry about the products degrading, and they are super easy to store as well. You can also invest in wholesale clothing. With wholesale clothing, it’s possible to invest in cheap clothing and sell it on for more to make a profit.
Freelancing
Freelancing is literally where you are the business. You are the product that is being sold. It’s all about making sure that you find the service that you can offer that people will want to buy. This could be anything from IT support to baking.
Once you have found the service that you want to offer, you can then sell them online. It’s just about making sure that you build up your representation the right way. Do focus on social media but you may also want to consider building up your blog. Building up your blog is a great way to increase your number of followers and gain support from customers too.
We hope you use this advice and start building up your own business from home.
