How to Start a Home Business

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To start a home business, consider whether you will be able to focus at home, decide whether the appropriate equipment is available, and think about how to promote a home business. Separate your personal life from your business life to start a home business with advice from a marketing and sales management professor in this free video on a home business.

Part of the Video Series: Small Business Tips
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Video Transcript

Hi. My name is Mark and we're going to look at how we can set up a business in the home. There's a number of factors that we have to consider when starting up a business at home. And that is your surroundings. Can you work at home. Can you work or are you going to be tempted just to switch on that television, listen to the music, run around in the garden, either cook a dish. Are you going to be able to focus doing the job that you're setting up to do, number one. Number two, do you have the senses enough at home to upgrade whatever it is you're going to do. You have to think about your communications. Your Internet access, your telephone access, your fax access, all of these communication tools. I think it can be easily, can you easily implement this system at home? And the other questions, are you going to be disturbed just when you need to make that important business call. Maybe you have a baby. I mean are they going to start crying, you have to think about all of these implications when starting up a home business. Of course financially it might make a lot of sense for you to do that. And maybe it's the short term step before you go into your own premises. But, please, consider the impact of starting up a home business. Many temptations, many reasons to stop or to work like a slave while you're a crazy person. You need to a balance between working hard and playing hard. Being able to learn to switch off. And keeping the focus ahead of you of what was required. So you need to contemplate these issues before setting up business at home. But whatever you decide to do I wish you all the best. You need to consider when looking at a home business what type of business you're running. If its a consulting service then fundamentally the telephone, the Internet those are two you require. If you're running, for example, a manual business then you obviously have a vehicle that you need. And obviously you need to know you've got to secure a parking space to have. And obviously somewhere you can store one of the various items that you're going to need. So, for example, if you're a plumber or a window cleaner you might have ladders. you might have buckets and various other tools can you store them somewhere. If you are a distributor, an agent have you got somewhere you can stock, leave your stock safely or securely. Does it need to be insured. You know you need to think about these things. The other issue is in terms of promoting yourself, promoting your business from home, is it a good idea to promote using the home address? Will that put customs off if you live 12 Virginia Avenue, is that going to be more like a home address than a business address. Does it make any difference. Maybe, maybe not. You need to think about this. And also be able to separate your personal life from your work life as well. So you need to consider the implications of giving your personal, your family or your home address as a business address.

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