If you haven’t, many people are.
In fact, 69% of entrepreneurs start their businesses at home, and a portion of those go on to create thriving businesses that positively effect our economy.
Unfortunately, there’s alot of noise that dilutes the true opportunity to start a home business: scams, multi-level marketing, work-from-home jobs, and downright false information.
If you’re interested in how to start a home business, chances are, you’ve looked over numerous articles, videos, and had many advisors before arriving here. With all the information out there, you can be very confused.
In this article, I want to break thru the noise by sharing my personal story of how I’ve earned a full-time income from home, the stories of others, and give you a step-by-step guide for how to start a business from home.
Let’s get started…
Following Golden Opportunities
There are times in history where something new hits the market and enables a “golden opportunity”. Some examples are:
When the printing press was invented
The invention of the airplane and quicker worldwide travel
or, the invention of the car
The inception of the internet falls into the category as a “golden opportunity”. Since it’s invention in the 1960s, and it’s commercialization in the 1990’s, there has been EXPLOSIVE growth of the internet, and it’s far from complete.
Prior to the internet, home business owners were farmers, seamstresses, and others who had to do marketing while it was much more cost and time intensive. Marketing would require printed marketing materials, live networking, physical samples to be given out, physical prototypes, and in many instances, inventory was required too. Even as a home business owner, startup costs were higher than what’s possible today because the internet has afforded us the golden opportunity to leverage the power of digital marketing.
My husband and I started our first home business in 2013. It was a General Contracting company. As a result of starting the general contracting company, I chose to separate from the military after 9 years of service.
Then, in 2017, I started KOHA Digital Media Company to empower others to achieve their maximum potential. How To Entrepreneur is one of the brands that I’ve created to help others learn entrepreneurship because I believe entrepreneurship is a huge way to challenge yourself to achieve peak potential, and it’s also a very exciting way to design your life.
Starting home businesses has enabled me to stay home with my two children and spend some unforgettable times with them. I believe others may enjoy many things about home businesses, which is why I’m writing to explain how you can start one.
Prior to actually starting the work of the business, you want to organize the legalities. You’ll need to decide:
To incorporate or register a DBA
Where to open a business bank account
How you want to set up payment accounts
and, get the necessary home office supplies you’ll need to conduct business
After the preliminaries are out of the way, there are 5 simple steps for how to start s home business.
5 Steps for How To Start a Home Business
Starting a home business is a simple process, there are 5 general steps you should take. They are:
1. Set Aside Your Startup Investment
Every business will require require resources: time, connections, skills, training, and money. When you’re in the startup phase, you’ll need to sort your resources. Even if you feel that you have limited resources, it’s still important to be clear about what they are, so you can create a strategy for using them the most effectively.
You may be starting your business while having a full-time job or you could be a stay home parent. There are many things that could be fighting for your time. It’s important to prioritize your business by carving out time to work on it daily. While it may be a challenge to imagine how you can invest time in the business, you should use scheduling ideas that others use successfully to balance their businesses and life. HERE ARE A FEW OPTIONS.
Similar to how you’ll need to set aside time for your business, you’ll also need to set aside money for your business. There are systems that have to be put in place in a business, and entrepreneurs typically underestimate customer acquisition costs. You’ll want to be clear with your personal finances, so you can decide what money you’ll be able to use to push your business forward.
Connections should NEVER be underestimated. When you listen to many success stories, the person may not have had much money or time, but because of their connections, they were able to experience exponential growth in their businesses.
Connections can add onto the resources your business has. They can give ideas, feedback, money, or even invest time helping to build your business.
2. Choose Your Interest
According to Wealthy Affiliate, my #1 recommendation for learning Internet Marketing, they say the path to success online has four steps. You can see them outlined here…
(Image Source: Wealthy Affiliate)
You may be interested in:
- Graphic design
- Creative Art
- Real Estate
- or, even starting a Medical Practice
As a home business owner, the ability to leverage the internet can be like a super power. You can reach a huge marketplace from the comfort of your home, and it all begins with first “choosing an interest” or an area of expertise and building around that.
There are so many potential interests, and each has different monetization potential. You want to choose an area that will leverage your skills and talents, and an area that can captivate your interest for awhile. If you choose an interest for other reasons (like solely for money), then it’s harder to stay motivated to work on the business.
3. Set up A Website
After you’ve chosen an interest that leverages your skills, talents, and experience, then you want to set up your piece of digital real estate. Your website is like your storefront. It’s where your customers can come to learn about your business or get information about your area of expertise.
There are several ways to set up a website,however, I recommend using the Wealthy Affiliate Siterubix platform because it’s simple, very little downtime, lots of training and support, and you can try it for free! Within 30 seconds, you can have your digital real estate built and begin adding content onto the website.
Here’s a video to show you how a website can be set up in 30 seconds…
Now, it’s your turn…You can set up your free Siterubix website here, and transfer it to a paid domain when you’re ready!
4. Drive Traffic
According to internet marketing professionals across the world, the digital marketing trifecta is a stable way to drive tons of traffic to your website. You’re probably asking, “What’s the digital marketing trifecta?”.
It’s a combination of earned media, owned media, and paid media that looks like this…
(Image Source: Titan Growth)
At Wealthy Affiliate, you’re taught from the ground up how to build the digital marketing trifecta to drive traffic to your site, and based on the success stories there, it works. People from all backgrounds, truck drivers to high school drop outs all say they were able to make a successful home business by following the internet marketing training at Wealthy Affiliate.
You can take your medical practice or woodworking business, and learn how to effectively reach your target audience with it leveraging the power of internet marketing.
5. Earn Revenue
After the website is set up and the traffic is coming to it, then you’re ripe for the REVENUE! The sky is the limit with what you can earn online because the interests are so broad.
The woodworking business owner who finds an audience online who loves his work will be able to earn a very lucrative income because in contrast to the local woodworker, he has access to 4 billion internet users! Similarly, the home based hair salon who learns to use internet marketing could find it much easier to stay booked. Staying booked equals REVENUE!
Some Things to Avoid Worrying About in the Startup Phase
When starting a home business, many entrepreneurs get stuck worrying about what they’ll do when they get the traffic and they overdo planning the client fulfillment system. In the startup phase, your focus should be on learning the market and finding a problem you can solve there. Then, you want to follow the steps just as their outlined above, and build your 7 business systems as your building your traffic. Avoid:
- Taking critique too hard
- Being too tactical and not taking time to be strategic
- Obsessing over home office supplies
- or, Making decisions based on optimism rather than on facts
Final Word on How To Start a Home Business
The goal of this article was to show you simple steps to start a home business. Modern technology has made starting a home business fairly simple, but it can be overwhelming in the beginning. If you have questions about any of this, leave them below and I’d be happy to help you out!
If you liked what you saw here and you’d like to start or scale a business online CLICK HERE AND CREATE YOUR FREE ACCOUNT! Join me at Wealthy Affiliate and get two free websites, ten free training lessons, and access to a community of 1 million+ entrepreneurs (many who are making major things happen online!). CREATE YOUR FREE ACCOUNT NOW!
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Now, it’s Your Turn…
Have you started a home business? What advice would you give someone wondering how to start a home business? Leave your comments, questions, and feedback below.