Running a business from home can help you manage your professional life on your own terms. But breaking free from a traditional job can take some time – and you might not know how to start the process. Thankfully, tools from brands like Imagine Performance can simplify your strategy for supervising remote teams! In addition, these tips outline the most important steps you need to take in order for your home-based business to succeed.
Create a Plan
Maybe you’ve been dreaming about running your own business for a while now. But you won’t be able to turn this dream into concrete reality without a detailed business plan. Ownr recommends starting with an executive summary and then writing up sections covering your business structure, products, services, marketing strategy, and more. You will also need to outline your estimated expense budget. LivePlan suggests including figures for payroll, marketing, insurance, and interest payments on loans.
Set Up Your Home Office
Setting up your home office can be fun! Block off a weekend to transform a designated space in your home into a functional workplace. Naturally, you’ll need a desk with a spacious surface, an ergonomic chair that can support you through long work days, and the necessary technology to run your business, like a computer monitor, printer, and WiFi router. Of course, you can also incorporate your own decor!
Establish a Payroll System
You might be eager to hire your very first employee – but first, you’ll need to implement your payroll system. With so many options for payroll software, you might be wondering how to choose the right program for your company. Ideally, your software will offer functions like automatic payroll scheduling and same-day direct deposit so that you don’t need to distribute payments manually. Plus, software that includes automatic calculating and tax filing will be especially helpful during tax season! Finally, you’ll want to look for a program that comes with iOS and Android mobile apps so you won’t have any obstacles processing payroll while in the field or on the go.
Hire Your Remote Team
While some entrepreneurs fly solo throughout the first few months of running their business, you may want to hire team members early on. Hiring a couple of employees and contractors before you’re overwhelmed with work is always a smart idea! By following this strategy, you’ll be able to make your hiring choices carefully, rather than scrambling to find the right people. Be ready to conduct interviews over video chat or over the phone, and ask about candidates’ qualifications and skills that make them the right fit for the role. Don’t forget to invest in software that will allow you to effectively manage your remote team.
Marketing and Networking
How can you engage in marketing if you don’t have a physical storefront or you’re running your business entirely online? Leverage the power of digital marketing! Your digital marketing strategy could include social media advertising, email marketing, or blogging and content marketing. Think about where your target audience is and ensure that your efforts will reach them. You should also take the time to network with other business owners in your sector. You can do this through social media or by attending industry events to make personal connections.
Today, you don’t need to be in a physical office in order to achieve your professional goals. By running a home-based business, you can pursue your career passions without sacrificing your autonomy. With these tips, you’ll be prepared to craft your business plan, find your team, and promote your business!
Do you need software to track your remote workers while running a home-based business? You can turn to Imagine Performance! Reach out through the contact form on our website with your questions.
Cheryl Conklin is a freelance writer and tutor by trade and a blogger, adventurer, traveler, and creator of Wellness Central in her free time.