Home is the new office, and the new office is at home. Over the last couple of weeks, more than half of the world population have been on lockdown stranded home. Working from home will become the new norm? People are getting used to working from home and balance between their families, kids schooling video calls, emails, reporting, and the whole lot. Confinement is bringing back the forgotten hobbies and talents in people. For others, they are learning some new skills or perfecting some. Whatever is your case or situation, there is no argument that you can run a business from home.
Today, we will share with you some ideas to guide you on how to run a business from home and give you some home-based business projects that are easily implemented.
Checklist to Start Your Business from Home
Here is a simple checklist that you can use to find out if you are ready to start your business from home and get additional income. When answering the below list, be true to yourself and write it down to help you later to choose the perfect activity.
- What are you passionate about?
- What’s your talent?
- Do you consider yourself creative?
- How much spare time are you willing to invest in your idea?
- Are you persistent?
- Are you organized?
- Are you detail-oriented?
- Are you a risk-taker?
- Are you self-motivated?
- Are you self-reliant?
After you do this assessment, if you are comfortable with your results, you should explore the idea of home business start-up in more detail.
A Home-Grown Business Could Take Various Forms:
- You are selling your expertise in a particular area (writer, chef, advisor, tutor, etc.)
- Social media with an audience follower that transforms into monetary gains. (photographer, personal trainer, pet fan and others)
- You can buy an existing e-commerce business as per your interest.
Once you decide on which business idea you are venturing with, you need to start preparing your cost, your profit, the price per service or product, and your sales plan.
And, once that finalized and your business idea is profitable and viable, you can project your sales plan daily, weekly, monthly, and yearly depending on the product that you are offering.
You need to consider that new businesses need time to start generating profit, so keep a buffer of 3-6 months of cash flow.
Business Plan:
Every business needs a business plan to keep you on track with your goals and targets. A business plan would consist of the following main segments:
- Your business idea executive summary.
- Your Target group and consumer profile
- Competition insights.
- Marketing strategy
- Sales projection
- Financial projection
Top 17 Business Ideas You Can Start from Home Today:
For those who are still not sure where to start, we have combined the top 17 Business ideas that you can start from home today.
- Copywriting and editorial services: You have the talent in writing skills; this is a high activity that you can start from the comfort of your home.
- Consulting services: here, you can use your previous experience in a specific field to help businesses grow.
- Project management consultant: Do you have the knowledge to oversee and lead in executing projects from planning to completion? Then this is your activity to start from home.
- Business plan services: Using your experience in a specialized field, you can create business plans to support start-ups create their business plans.
- Event planner: If you have the expertise of Children Party planner: A straight forward activity to help busy parents to create memorable moments for their kid’s parties. It requires creativity and organization.
- Financial planner/advisor: with a finance business background, you can guide individuals to plan better for their future.
- Logistic consultant: Are you a customer service, warehousing, and supply chain expert? The best time to support companies with their growing logistic operation demand. From food deliveries, households and others.
- Interior decorator/designer: You can impress your social circle with your talents and help people to decorate their homes. A lot of makeover ideas are generated during the lockdown.
- Life Coach: Are you a people’s person, and you have the talent to counsel? Then getting into the life coaching profession is your area.
- Music tutor: Are you a musician, but you are not using your ability? It’s time to start tutoring, either online or in person.
- Website developer: With confinement, all the population has turned to the web to cover their needs from shopping, news, entertainment, study, training, and others.
- Personal chef or cooking consultancy: Are you a chef? Do you have a secret recipe? Are you specialized in certain foods? Are you a foodie cook? All food interest can be covered under this license activity.
- Social media specialist: Are you a social media expert?
- Sports Coaching and training: To all personal trainers and coaches, this is the best time to create your footprint in the sports and training industry. While people are at home, you can train customers via zoom or other video apps, and you can create training exercises via your website and expand your customer base.
- Virtual assistant: A VA helps provide small businesses with administrative and technical assistance from home. A lot of companies will be looking at cost optimization during this period.
- E-learning: With the current schooling from home reality, tutoring online will be the new trend. Teachers and students can benefit from this new technology. A teacher can create his class tutoring for several students, lead discussions, guide, and enable students through their tasks and exam preparations.
- Online-store: For all traders and savvy business entrepreneurs, this is a great opportunity today to get your online store from specialized stores men clothing, sports gear, paramedical equipment, or a generalist like Amazon with hundreds of thousands of SKUs.
Setting Up Your Own Company
All these activities and home businesses are covered under the UAE’s vibrant and friendly segment of business set up from free zones to mainland licenses. Our experienced team can guide you through setting up your company, from securing your preferred company’s name to finding the best jurisdiction for your business.
Having your own business today in UAE is much easier and more affordable than before. Based in the UAE is the best hub in the region ranking 11th globally (out of 190 countries) in the ease of doing business and number 1 in the Middle East and the Arab world.
In summary, a home-based business will give you flexibility with your time and money. However, the process needs commitment and the right planning to achieve the success and desired results. Don’t be intimidated in starting a business from home, the top leading companies today like Amazon, Microsoft, and Apple started from home and from a garage to be more specific. When someone’s passion, perseverance, self-discipline, and hard work combined, it’s a formula for success.
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