However, it is hard to move forward with confidence and certainty without direction.
This article talks about some intial things to consider before you do spend a cent, we have followed our own advice time and again over the last 30 years in working from home in our own businesses.
We currently own and operate a small commercial cleaning business. Employing between 20 and 30 part-time and casual staff.
What we’ve learned over the years is applicable to anyone wanting to start their own business, regardless of the industry, we hope you benefit from our experience.
Things To Consider.
You’re about to tackle an adventure; your own business. If you already have a clear idea about what sort of business you’d like to set up and run then that’s great. However, it may be worth your while to review things just to make sure you’ve nailed it.
We are about to go into; Research leading to some Decisions and then, and not before those things are done, you’ll be ready to take Action. But just before that take a moment and read through some of a few things we’ve learned from being in business these many years.
There’s a huge difference between starting something, then continuing it, and sustaining it in the long term. Just because something is started it doesn’t mean it will continue to exist. Survive!
Right now you are in the Pre-Start Phase.
Don’t rush it, allow at least a week to 10 days to complete this phase.
There’s always temptation to rush ahead of things but let’s do this in sequence, you’ll thank yourself later if you do.
Some Context And Important Points. Keep These in Mind.
Any business operates within a Category…think about that for a moment…for example we run a cleaning business, generally speaking you could say we are a cleaning business, that seems too obvious to mention, but wait. Cleaning in itself is a huge industry, a multi billion dollar industry in Australia alone, it’s worth $9.0 billion.
[ The Commercial Cleaning Services industry has performed well over the past five years. The industry is projected to generate revenue of $9.0 billion in the current year, up 2.6% for the year.]https://www.ibisworld.com.au
- We, therefore, don’t seek to compete in the large and broad pool of cleaning services. Instead, preferring to select out and service smaller groups within it.
- Find your niche within an industry
- No matter what industry you choose I suggest you apply that as your guiding principle.
- Your business could become quite diverse eventually, but it’s better to focus on a narrower part of the whole; getting very good at that before mixing it up.
- We also work at creating profit centers, each client we service has to be a profit center.
- Each part must return on investment, whether it’s money, time, or energy.
Invest meaning, definition, what is invest: to put money, effort, time, etc. into something to make a profit or get an advantage.
Research Begins. (Niche Research)
It’s too hard to work the big broad area within the cleaning industry or any industry for that matter.
Think about it for a moment; it’s not hard to work out just how big our example industry is, how many things get cleaned in one day. How many sectors of our society require cleaning and cleaning services. It’s almost overwhelming, isn’t it?
So, I urge you to work in narrower fields regardless of the industry. And become very good at that narrow field.
Any industry can be broken down into smaller and smaller parts, you should break things down until they feel right for you. I challenge you to narrow down your chosen field to the point of knowing you could actually create in it.
Use a pen & paper and break any industry down. Here are some ideas to get started on there are much more; just let your imagination run wild, you’ll find them.
Keyword Research Tool (Jaaxy)
Another tool you can use to get ideas from is a Keyword Research Tool. Because I’m doing online marketing too I make use of Keyword Research tools such as Jaaxy to polish my research. Read more about Jaaxy and other tools you could make us of to further your own research here.
You’ll be able to make great use of such tools to find ideas for a business. Here’s a list of possible Categories (not niches) you could dig deeper into with such tools to find ideas for your new business.
- Affiliate Marketing
- Garden Care
- Food Services
- Make-Up Artistry
- Bridal Care
- Delivery Services
- Internet Businesses
- Pet Care
- General Building Care
- Handyman Services
- Home Based Care
- Professional Organising
- Interior Designing
- Inspection Services
- Hair Care
Somewhere in this process, one or more items will jump out at you more than another, if so, there’s a good chance you’ve just found your business idea.
Note: Resist any temptation to rush ahead. You have more research to do.
The following steps don’t need to take a long time, you should have your answers within 7 days, with these things answered you’ll have a higher degree of certainty about your venture. These done well will give you more certainty and confidence, which you’ll need when moving forward.
- Do you have expertise or experience you can call on?
- If not, you will need to consider undertaking some training.
- Will that take time and money?
- Can you earn while you learn?
- Do you need any sort of licensing or insurances etc, to undertake the business?
- What businesses are allowed within your residential area if any?
- Are there zoning requirements?
- For most businesses this won’t be an issue, it’s safer to check beforehand
- Do you need any insurances?
- Public Liability, personal injury anything else?
- Do you need to register you business what tax requirements are there?
- How will you accept payments, cash, cards or bank transfers? These need setting up, not yet, but eventually.
- Do you issue receipts?
- And so on.
- What equipment will you require, and what’s it going to cost you?
- Do you already have equipment at hand, and or can you borrow items if your budget doesn’t permit buying them?
- Do you need transport?
- What other legal requirements must you be aware of? Complete any due diligence.
noun: due diligence
- reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something.
It’s important to your success not to rush through the steps outlined above.
BUT, these will get you underway and to the point of STARTING. Something, which we will go into in our next post, so stay tuned, meanwhile work through the little plan above.
I guarantee if you do these well, you will gain a lot in the way of beneficial insight, you’ll learn much about the idea of being in a home-based business. And a little about yourself as you move forward; if you move forward.
You may decide while doing these relatively few steps, that being in business for yourself was more of a romantic idea instead of something you are dedicated to, and find it’s not for you. That’s a very good thing to discover, and before you lay out some cash.
So if that happens be happy and realise that you worked through a process and found out more than you would have otherwise, and now you can get on with something else. That, I consider, would be a good return on your invested time. Don’t you?
If anything in this post raises concerns or questions do feel free to post a comment below.
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