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Here’s How To Run A Business From Home

Here’s How To Run A Business From Home

Having a home-based business is a growing trend, but keeping it organized may be difficult for some. Each simple tip included in this blog post explores new and unique solutions to help business owners improve their business. The tips below will help you create a firm foundation for your business, while giving you proven information to help you plan and grow.

Being a business owner from home might not be easy, but it can be a very successful form of entrepreneurship. According to the Census Bureau, more than half of businesses in the United States are home-based. Some of the most recognized brands like Apple, Ford Motor Company, and Mary Kay Cosmetics all started as home-based businesses. Here are five tips that will help you develop, grow, maintain your business from home:

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1. Keep Work-Life Balanced with a Dynamic Working Environment

Creating the right working environment will be pivotal to your success as home-based entrepreneur. First, you should find a place that is quiet and separate from the living areas of your home, so that you aren’t distracted when working. Once you’ve found the perfect spot, turn it into your office. Make sure it is equipped with all of the tools, technology, and resources you will need to keep your business organized and efficient. Try to keep your work area as a place for work-related activities only.

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  • Plan time away from home. If you are an author, you might try spending time at a Starbuck or some place similar writing where you can sit comfortably. I like to schedule my time on Sunday afternoons and write for 3-6 hours.
  • Balance out your life by doing something that’s opposite of what you do in your business. If you are analytical in your business (i.e., programming, accounting), then do something creative in your downtime. For instance, I’m a web developer and in my downtime, I like to write paranormal romance novels.

2. Build a Stronger Business with a Virtual Assistant

Understanding that you can’t do everything on your own is one the most important lessons entrepreneurs must learn. Hiring a virtual assistant to help with tasks that need to be completed for your business can be very beneficial. VAs can be found using services like UpWork.com, which connects businesses with independent contractors. Delegate small to moderate tasks to your VA, so that you can focus your energy on accomplishing major objectives for your business.

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  • Create a list of team members that you will need to keep your business strong and that you are open to outsourcing some of your tasks to.
  • Use services like Freelancer.com or Upwork.com to find virtual team members. You can post jobs that would help your business grow. When you choose specific tasks that you want to outsource, you can assign them to your virtual team members.
  • If you choose to use Google Apps, set up generic email address such as [email protected] so that you can reuse the email addresses in case you have a team member who needs to be replaced. Then you can just change the password for the new team member to use.

3. Stick to a schedule

Plan a work schedule that you can stick to. Try to start and end your day at the same time so that you can become accustomed to focusing strictly on getting work done for your business during those hours. Online tools like Google Calendar, Asana.com, and Teamwork.com can help you set deadlines for task and plan your work days. There are only so many hours in a day, so time management is a vital skill to grasp.

  • Set business hours that work well with you keeping a work-life balance. When you have set hours, you, your team, and your clients will understand when you are available for business.
  • Keep your team members abreast of any changes in your schedule. Especially if you have a personal assistant, you can share your calendar with them. By keeping them in the loop about your changes, it will help them manage your calendar better.

4. Use tools that can help your grow your home-based business

There are many tools available to home-based business owners that can help your business run smoothly. One resource is The Small Business Administration (SBA), which offers business owners tools to help get businesses off the ground, including developing a business plan. Google is another resource that offers assistance to business owners. Below are a couple of the resources that can help you research your industry, and even connect with others via startup communities.

  • Check out the business plan building tool that the SBA offers to help you Build Your Business Plan. The SBA Business Plan Builder will help you map out your business step-by-step. In fact, the SBA will also teach you how to manage and grow your home-based business.
  • Use Think With Google (TWG) to do deep research for your specific industry. You will find that they can provide data research, trends analysis, forward-looking perspectives and behind-the-scenes looks at digital campaigns — across industries, platforms and audiences.
  • Checkout the startup communities provided by Google For Entrepreneurs website. Their focus is to create startup communities for entrepreneurs where they can learn and work.

5. Operate your business as a legal entity

According to the SBA, registering your business name is a key step to legally operating your business, and will allow you to receive certain aid from the government. Once you’ve established your business as a legal entity, you should be able to access any federal and state licenses and permits you will need to run your business. To learn about the law and regulations that may pertain to your business, visit the SBA’s website at sba.gov. These five tips will help you grow your business and keep you from being overwhelmed by your home-based business.

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CEO/Business Visibility Strategist

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Last Updated on May 15, 2019

10 Most Successful Entrepreneurs and What We Can Learn from Them

10 Most Successful Entrepreneurs and What We Can Learn from Them

Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

1. Melanie Perkins: Know Your Worth and Keep Trying

    Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

    She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

    Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

    2. Bill Gates: Keep Learning and Exploring

      If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

      Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

      He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

      “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

      Gates’ success is built on self-improvement and the seeds of an idea.

      3. Elon Musk: Never Stop Innovating

        Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

        Elon Musk, however, breaks that rule.

        Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

        When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

        Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

        4. Richard Branson: Develop People First

          British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

          The billionaire is strongly particular about working with a team that shares his core values and aspirations.

          Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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          A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

          Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

          5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

            Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

            For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

            While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

            While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

            6. Mark Zuckerberg: Start Small, Think Big

              Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

              “The biggest risk is not taking any risk.”

              He’s always daring to explore with a fearless mindset.

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              The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

              However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

              7. Steve Jobs: Live Your Own Dreams

                Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                8. Warren Buffett: Balance is Essential to Success

                  Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                  After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                  With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                  9. Jack Ma: Never Give up

                    On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                    Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                    His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                    Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                    10. Tan Min Liang: Passion Can Pay Off

                      Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                      Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                      The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                      So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                      Final Thoughts

                      In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                      Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                      Featured photo credit: Patrick Tomasso via unsplash.com

                      Reference

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