Work From Home Business
One Tiny Biz helps wannabe small business owners work from home. Creators, freelancers, Etsy store owners… this site is for you. It’s for anyone brave enough to take the leap and leave the 9-5 behind. I will try and make you comfy on your sofa. There’s advice to get you through the difficult, often overwhelming, start up phase and on the right track to making your first business profits.
How To Start A Work From Home Business
The minute you decide to start a small business and work from home, everyone’s got an opinion. Brace yourself! Whether you want it or not, advice will be flying at you from all directions.
You can sound out you idea with your 80 year old gran, your best friend or the guy who came round to paint your bathroom. Or you can find out a bit more from someone who’s been there and done it.
I’m not very good at blowing my own trumpet but I’ve been making money online for 15+ years and grew one startup to a 7 figure business. (You can read all about me here).
It’s a lot harder than it looks and following my advice is no guarantee against failure. One thing I’ve learnt over the years is there are never any fail proof plans when it comes to small businesses.
Large businesses basically buy their way out of trouble. They can survive for years on excruciating debt levels. Your tiny business can’t.
Funding Your Work From Home Business
The idea of your work from home business is to make money. Yet so many wannabe small business owners start taking out loans and drawing up spending plans.
😔 Your business plan may be golden. It may be the best money making plan on the planet but let’s just face a few facts. 20% of all small businesses fail in their first year and a whopping 50% by their fifth year. This is in the US, in the UK it’s even worse with 60% closing in just 3 years.
Approach the banks for a small business loan and all they really want to know is “How much spare equity have you got in your house”… and can they get their hands on it. Banks will milk you with high interest rates and hang you out to dry if it all goes wrong. Avoid like the plague.
✅ If you haven’t got any money – start a business that doesn’t need any. Come up with the lowest cost version of your business idea. Better still start a side hustle.
It could be time to move back in with your parents and start living off beans – anything to keep your living costs down. It’s a lot easy to turn a profit if you’re not paying yourself a fat salary.
Your tiny work from home business needs space to thrive and grow. Bootstrap your way to success and you’ll thank me in the long run.
Finding Your Home Business Idea
Wait around for your great idea to hit you out of the blue and you’ll probably never start a work from home business. Unique ideas are rare and the reality is most successful home businesses are based on a variation of a tried and tested model.
There’s nothing wrong with that. You have more chance of getting a small slice of the pie from a popular idea than finding a market for something totally new.
It’s still possible to stand out.
✅ Differentiate yourself by appealing to a specific customer base. It could be winter coats for poodles or online fitness classes for men over fifty who want big muscles.
Niche down until it hurts.
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