There are 30,748,033 small businesses in the United States. Almost 48 percent of the country’s entire workforce comes from them.
The appeal to start running a business from home has also grown, meaning those numbers are only going to become larger.
If you’re curious about running a business or want to see if you have what it takes, read on for these five key tips.
- Create a Plan
Before you do anything, you should create a plan.
What is your business going to be based upon? Do you have a target audience? Have you thought about building a brand, or what marketing you may need?
Do you need a bookkeeper? Are you going to hire employees? What about taxes and permits?
It can seem overwhelming but answering these questions right off the bat makes things easier for you in the long run.
- Have Your Permits in Order
Depending on the state you live in, and what your business is, you’ll need to have permits to operate. You’ll also have to keep them up-to-date depending on how often they need to be renewed.
If something changes, further changes may even need to be made.
Make sure you take notes of everything you read so you can access it later. Simply bookmark the pages or create a separate document so all your links are in one place.
- Pay Attention to Taxes
You’re in charge of your taxes now, and different states have different laws. Knowing the rules for where you live is essential if you don’t want a call from the IRS or any other government agency.
If you have employees, you may ask yourself, “What is the best pay stub and W2 maker?”
You may also realize you need to keep track of their taxes on top of your own. There are labor laws and so many other things you need to plan for before hiring an employee.
- Create a Brand
This is the fun part. Picking colors, font types, products, and marketing allows you to get creative.
Create a brand that you can market on social media and other places. Make yourself stand out from the crowd and give people a reason to choose your business over all the others.
- Carve Out a Separate Work Space
Working from your bed might sound nice, but carving out an area to act as your office makes working more clear cut.
If you have a spare room, this is ideal. If you don’t, even dedicating a small corner of your apartment to your desk and computer works. Just do not — I repeat do not work from your bed.
Running a Business From Your Home Is Very Possible
It sounds intimidating, but running a business from your home can feel liberating if you do it correctly. It’s about planning and then executing that plan, no matter how much it feels like you’re veering off the rails.
Whether you’ve already begun or are just testing the waters, know that you have exactly what it takes to run a successful business. If you didn’t, you wouldn’t have started one.
To find out more about owning a small business, or to read up on the latest in tech, lifestyle, and entertainment, check out the rest of our blog.