According to the Small Business Administration (SBA), more than half of all small businesses are home based. Home-based companies offer low overhead, friendly tax incentives, and the chance to work from home, among many other advantages. But some business owners may not feel comfortable starting a home based business because of the advice given. There’s much advice available, but not everything is successful. It’s important to be realistic about what can happen and what’s possible.
“There aren’t enough people spending time online.” This statement is frequently heard from those unfamiliar with online business strategies. This is usually followed by suggestions such as signing up for social networking platforms like Facebook or MySpace. While it’s possible to use Facebook Live for small businesses, it’s not recommended. The key reason is that users on these platforms have tens of thousands of friends, so advertising to them won’t yield many results. Similarly, MySpace isn’t a good choice if you want to advertise through email, since this service is primarily used by friends and acquaintances.
Another common advice is to join or create a blog and use it as a platform for online business. Blogs are useful tools for getting information out, but they’re not particularly optimized for search engines and display advertising. For example, a blog might rank higher if it were listed in Google, but this could require link building, which could take time and money. If you are working on improving your online reputation, blogging can help you do that, but there are other, more effective ways of building traffic to your online business website.
Programs for home business are another popular piece of advice. There are programs to track expenses, programs to keep track of bookkeeping, programs to submit your tax returns, programs to advertise your products and services. These programs may make managing your small business easier, but they’ll probably not generate the number of visitors that programs that generate traffic would. They’re also usually expensive, so if you’re just starting out, you might not want to spend money on these programs.
One of the most commonly given pieces of advice is that entrepreneurs should avoid being tied to their jobs. This advice is well received by professionals such as accountants and attorneys who perform primarily administrative work-from-home jobs. But most small businesses, home-based or otherwise, are usually conducted by entrepreneurs who bring in a substantial income, so they cannot afford to be undependable workers.
Another common piece of advice is to build a local business model. The assumption is that a work-from-home entrepreneur will opt for a work-from-home business model if they don’t have a solid, local presence. But this assumption is flawed. If you don’t have a strong presence in your local market, it doesn’t matter whether you operate an online business or an offline business, because you won’t be able to get customers. A strong presence in your local market will make your business more attractive to customers and increase the odds that customers will visit your website.
Finally, online businesses that don’t have store fronts should be treated like all other businesses. Treat them like small businesses. Investigate their cost of operation, their sales revenue potential, their customer service reviews and so forth. Don’t allow an online shopify template to control your business. Shopify offers Shopify developers and designers very affordable and competitive rates so you can start designing and operating your online store with only small fees.
These are just a few suggestions. There are many more valuable things to consider and learn about when planning your online business. If you’ve decided to start an online business, it’s better to learn from others’ mistakes and make your own mistakes from the beginning. There is much to learn and it is easy to make a costly mistake if you are not careful. That’s why online digital courses are a great investment if you want to make your online store a success.