To many people the whole idea of having a website is using the internet to make money from home. Aware that I said that this site was not to be just about financial wealth, however I do feel that some mention should be made of the opportunities which exist for you to increase your personal wealth, or money in the bank.
This article is about highlighting those such opportunities, as this can get quite complex, and I feel that it should be explained in a fair amount of detail, the article which follows this, will highlight the kind of business that you can run from home, also the opportunities which are available. The final two articles in this series of twelve will follow in a similar vein, each helping to improve the opportunities which exist for having a successful online business.
However, we must not lose sight of the fact that some use a website to make people more aware of themselves, such as politicians, film stars, sports personalities, the list can go on.
So you have decided that you would like some extra cash, earned preferably from the comfort of your own home, using the internet. The first thing to consider is where this new venture is to be run from. Just imagine your face and thoughts at this comment, why the computer you reply. My answer is really, does anyone else use it at the moment, if so you will have to consider them.
Would it be better to buy a laptop, even a second hand one so that you alone have access, after all if the business is a success, the last thing you want is to go to your desktop and find the eldest daughter or son chatting on face book. If you need another machine do not forget that you will need to be able to connect it to the existing printer and the internet. I do not have any interference with my computer, as my wife does not like them, even so I also have a laptop and a notebook so that I can work when I am not in the office, such as on the train or even when watching the cricket, or on the odd occasion when sat in the Summer House, or even in a chair outside it.
What space do you have available, just the desk for the computer is not enough, even though you will do most of the work on it, depending on your chosen business, I still need space for reference books, files where I have copied downloads to study quietly, away from the office, like in my favourite chair.
Do not forget that eventually you will have all the official documents to file that still come through the post. It is a fact that I am lucky, there is just the two of us at home now, so I have the third bedroom, which is quite large, for an office, which of course creates an ideal environment for me to run the business from.
Product, Digital or Physical
This may cause a raised furrowing of the eyebrows, as it is a serious question, you can operate purely online, or with physical products, it depends on what you want to do with your business. Personally I go for digital products every time, there is no physical storage to consider, packing of items, postage or delivery. As I do not have reams of space for this article I will always be dealing with digital products on this website, unless I mention otherwise. If in any doubt about the benefits of digital over physical, no matter what the size of your product in addition to storage, you need space to pack them, unless you are going to hand deliver them around the world, it will mean trips possibly several times a day to the local Post Office.
Getting the Basics in Place
When you decide to run your own business from home there are a number of factors which you have to consider, however whilst I accept that some of these cannot be finalized until you decide on your market, thought that it was better to keep all these in one place.
- Are you going to be a Sole Trader, a Limited Company or just doing it for the fun of it and running the accounts out of your own bank account? This does need serious consideration, for many reasons, such as TAX, VAT and……
- Your business address, if you work from home and use your home address as the business one, the local Council might just take an interest, I pay to have a registered address, or post box if you like, this is the official address of the business and all my mail is delivered there, then sent to me at home.
- How will your accounts be done? At home by you or will you do them online, or by an accountant.
- Suggest that you open a Business Account at the Bank to keep things in one place, some Banks offer a free service to new businesses for the first few months.
- When you start to take payments how will you do it, most firms and people these days prefer PayPal or similar, have you got an account, if not get one once you decide your market. After all you cannot trade in cash over the internet!
- Business Name, however you trade you will need one.
- Business cards, will you need them, there are some excellent firms on line, they will even add a logo if you do not have one.
- A logo is a good idea as it will become your brand as you become established, again many ideas to choose from to enable you to design your own, you can do a lot worse than look at Canva.com or Logo.Joy.com as they are free, unless you choose to pay. I designed my logo on Canva.
Developing the Concept
When you are at this stage in your initial preparations, you are nearly but not quite ready for the next article, deciding which market to enter.
Having made some initial decisions, have you thought what your area of trading will be, this is not the market, but possibly the niche that you have on your website. This may need a word of explanation here, the marketing ideas in the next article will detail how to progress your business to make money, as an example you might decide to write and sell books, or videos which you have made.
The area of trading as I call it will be the overall niche that you have chosen to discuss on the website, be it health products, but possibly specializing in diets or exercise, or finance and the stock market, this is where you will be concentrating your efforts when you decide where to market them.
Another thought is that you might decide to concentrate on say “Dieting for the New Mum” you may then need to carry out a fair amount of research on that subject so that you are then ready to decide how to market the concept.
As always I do so hope that you have enjoyed this article, please leave any comments in the box below, as we do value and appreciate them.
The next article will be “Which Marketing ideas to choose”
Stay happy, healthy and wealthy.