Starting a Home-Based Business

The trick to any successful business – home-based or otherwise – is to identify your meaning beyond just making money. Why does this work matter: to your customers? to you? Knowing the true purpose of your home-based business is the key to long-term success. But there are other steps to take before you’re ready to start your home-based business.

Take the first step.

Step One: Know Your Options Before you can start a home-based business, you have to know what home-based businesses are out there - because there are a lot, each with their unique pros and cons. Start by figuring out if you want to work for yourself, for someone else, or with someone else. Use our checklist to work through your strengths and interests and create a list of possibilities.

Is a home-based business a match for you? Do you have characteristics and the personality for working from home? Self-motivated, needing little oversight to meet your goals

People-oriented, enjoying working with and building teams

Organized and somewhat detail-oriented

Problem-solver who perseveres through challenges

Willing to try new things and learn from experience

An effective communicator

Tip: Both introverts and extroverts can flourish with in-home jobs. But extroverts will fare better in self-employment and introverts will excel in working from home for someone else.

Skills & Interests There are also home employment opportunities for people who are willing to pick up or brush off some new skills. Ask yourself if you have any interest in... Languages

Massage

Data entry

Medical transcription

Tech support

Teaching

Other

Tip: Be sure to pick something you’re genuinely interested in. Studies show that unhappiness in your job has a bigger effect on the productivity of employees who work from home than it does on office workers. Choose wisely!

Hobbies & Passions

What are you passionate about? What do you search online for and read about in your “spare” time? Jot those things down in the left-hand column of the table below.

Now, wouldn’t it be great if you could turn that into an income? Let’s find out if your interests could be money-makers. Brainstorm ways you can make money with your hobby or interest. Can you make things to sell? Can you teach it? Note any matches in the middle column.

And don’t forget, there are direct selling opportunities for just about any product or interest. Spend some time searching online. Type in “direct sales” and your hobby or passion into the search bar. Or start here for a decent starter list. Note any matches in the right-hand column. (Disclaimer: Traveling Vineyard does not vouch for any companies you find. Check out their credentials with the Direct Selling Association).

Hobby or passion

Business ideas

wine

direct selling, wine education

Have questions or want to learn more about work from home opportunities? Continue your research here.

Direct sales company matches

Step Two: Find What’s Best For You Now that you’ve got a list of options, it’s time to hone in on the best choice. Take a long, honest look at your strengths, your aspirations, and your limitations. Then do your research. Organize your results in the spreadsheet on the next page. Though we’ve taken the liberty of getting you started, feel free to fill in your own unique criteria.

Opportunities

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Step Three: Finalize the Details Now that you’ve made a decision, all that’s left is to sort through the paperwork. Your legal, financial, physical, and digital set-up doesn’t have to be hard. Cover all your bases with the handy-dandy checklist on the next page.

A checklist for how to set up your home-based business. Don’t let the paperwork scare you away from pursuing your dream job. Use this checklist to organize all the things you need to get done.

Step 1: Be a Legal Eagle Tip: If you’re doing direct sales or working for a company, you probably don’t need to consult a lawyer. But it never hurts to double-check if you’re unsure.

Ask yourself (or your lawyer), am I ... a limited liability company or partnership operating under a DBA (doing-business-as trade name)

Do you need a lawyer? Yes

No

a sole proprietorship an independent contractor (most direct selling or marketing jobs)

Lawyer’s name:

Step 2: Money Matters Do I need ...

Ask your accountant about ...

an accountant?

income tax: annual payments vs. quarterly withdrawals

a business account?

business expense deductions

a corporate credit card? Excel or an accounting software? Accountant’s name:

Step 3: Home Sweet Office Customize your home-based business shopping list: dedicated space

cellphone

desk and chair

internet

filing cabinet

computer/tablet

landline

stationery

binders

Step 4: This Modern Age Do I need ...

a website?

an online marketplace (like Etsy)?

social media?

How will I connect with the right people? FACEBOOK: Just about everyone who has the internet. And their mothers. INSTAGRAM: Most popular with the younger crowd. Photo-oriented – be sure your products are photogenic. LINKEDIN: Professional network of older, career-minded people. Impress them with your smarts and sophistication. GOOGLE+: Heavily populated with middle-aged men. But there sure are a lot of them.

PINTEREST: Mostly women, from 18-64. Also visually-oriented, so take the time to pin quality photos or graphics from reliable sources or make your own. TWITTER: Also predominantly for the younger crowd. Limited to 140 characters at a time, so be quippy and memorable. YOUTUBE: Huge with the 18-34 crowd from every walk of life. This can be more time-intensive, but fun if you love making videos.

Step 5: Offline Where can I meet people offline? craft fairs conferences trade shows Got it all in order? Then take a deep breath. You're ready to launch!