By Emma Jones
There's never been a better time to start a home business. This applies whether you're starting out full time or holding down a day job and building a business at nights and weekends. Here's advice on the first step you'll need to take - coming up with the big idea!
The benefits
First off, let's take a look at the benefits of becoming your own boss from home:
1. Save money. Why take on the cost of an extra office when the spare room/attic/garden shed will do just as well?
2. Save time. Cut out the commute and earn yourself up to a whole extra day each week. Extra time that can be spent with friends and family and doing what you love.
3. You're in control. Enjoy the freedom and flexibility that comes with deciding your own working hours and creating the perfect work environment.
With advances in technology, there's a whole host of professions and trades that can be run from home, from chocolate making to fashion design and freelance writing. You name it, it can be done. Let's move on to look at the first step that will get you there.
The first step
To start a business from home, you'll need an idea. To come up with one, ask yourself these three questions.
1. Is there a gap in the market? Have you looked for something that you just can't find? If so, others might be looking too. Plug that gap with your product/service.
2. What is my hobby/passion/skill? We are seeing thousands of people turn something they love to do (arts and crafts, pet care, walking) into a way of making a living. The beauty of this is that being paid for doing something you love never really feels like work!
3. Can I do it better? Have you seen someone offer something and think you can do it better yourself? In which case, give it a go!
When answering these questions, bear in mind that the more ‘niche' your idea, the better. For example, rather than aiming to ‘sell all kinds of fashion accessories to all kinds of people' think more about an idea that is selling a particular kind of accessory to a particular type of person. The more niche your business, the more you will understand your customers and this will keep marketing costs low.
All out of ideas?
If you've run through these questions but the idea just hasn't come, why not buy into someone else's? There's a growing number of great franchise opportunities on the market, whatever your interest.
If you like travel, check out Travel Counsellors. If you're a foodie, how about My Secret Kitchen and for those who prefer the great outdoors, Girlie Gardening is an option. With a franchise, you get all the benefits of being your own boss while still being able to pull on the support of a team. It's self employment, with a twist!
An idea shared
People often ask me if they should tell other people about their idea. I say ‘yes' but with a word of caution. At the beginning, talk to friends and family, ie, people you trust - share the idea with them and ask for feedback. Would they buy this product or service? Have they got any suggestions on how it could be improved? Once the idea is more developed, you're in a stronger position to speak to people outside your closest and inner circle.
I always believe that if it's your idea, no one can take it. Quite simply, they won't see it through in the same way as you.
You are the visionary who came up with the idea. Now it's time to realise that vision with a helping hand from the people you trust!
Emma Jones is Founder of Enterprise Nation and author of Spare Room Start Up - How To Start A Business From Home.
