According to the Center on Budget and Policy Priorities, the COVID-19 pandemic has had a dramatic effect on employees as well as the economy in general. During the past two years of the pandemic, millions of people have struggled to keep their in-person jobs, feed their families, and pay their rent on time. The solution for many individuals is to start a new business to support themselves and their families – and many of those people are working from home.
If that sounds appealing, Work From Home Jobs offers the following tips for people who wish to become home-based entrepreneurs as the world moves forward after the most difficult years of the pandemic draw to a close.
1. Start With a Good Foundation
The launch of any new business is the result of much planning, budgeting, and organizing. If you don't have previous business experience, you can learn a lot from choosing the right online degree or certificate program — or even online business tutorials — to brush up on important skills.
Moving forward, you'll need to acquire funding, create a website and social media accounts for your business, and hire professionals such as web designers and financial advisors to assist you in your mission. Preparation at this point will minimize issues after you launch.
2. Complete the Necessary Paperwork
It's not enough to name your business and set up your online (or brick-and-mortar) store. Don't forget to register your business with your state before you launch. Choosing to register as a limited liability company will allow you to legally separate your business from your personal life, cut down on paperwork, and take advantage of specific tax breaks for small businesses.
Before you start filling out forms, ensure that your new limited liability company is compatible with state rules and regulations as all states have different laws surrounding the registration of LLCs. You may wish to use an online formation service to avoid lawyer fees.
3. Use Networking to Your Advantage
Old-fashioned, in-person networking certainly has its perks when it comes to securing investors and contacts for your new business — but how do you accomplish this when you’re working from home during a pandemic? Consider using internet databases and other tools to search out friends and school acquaintances who may be able to help your business succeed even if you haven't seen them since high school or college. Use social networking as well as video call software to meet virtually with your contacts if you are unable to socialize in person.
Additionally, any entrepreneur who works even partly online absolutely must invest in IT security to shield their business – and their customers – against a cyberattack. These days, hackers often specifically go after smaller businesses which they suspect will have more lax security than larger corporations, so here’s your opportunity to prove them wrong.
4. Develop a Marketing Plan
Effective marketing plans for new businesses should focus on building your brand as well as identifying your target audience. Use social media to your advantage as you interact with potential clients and customers and use fun, colorful graphics to illustrate your products or services. If you're working with a graphic designer, consider using a JPG-to-PDF converter over compressing the JPGs as this compression can interfere with image quality. Try putting several JPG files into the same PDF to avoid sending dozens of emails to your designer at a time.
Starting a new, home-based business at the end of a pandemic may seem like a risk, but all entrepreneurs have to face their fair share of risk-taking during their careers. Remember to plan ahead by filling out the necessary forms and creating a marketing plan well ahead of your launch — and don't be afraid to reach out to contacts around the globe for assistance!
Work From Home Jobs is your best resource for tips on trading stocks and working from home. If you have any questions or you’d like to collaborate, let us know!
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