Things to keep in mind before starting a home business

by Priyanka on 07/12/2017
Toying with your own business ideas but don’t have the bandwidth to set up an elaborate facility? Consider starting a home business. With the internet and e-commerce simplifying the business ecosystem, anyone can become an entrepreneur today. Home-based businesses are gaining momentum in India’s robust start-up ecosystem.

The advantage of starting a home business lies in the fact that you can start off with a relatively smaller investment and skip renting or buying a separate production facility. With the right equipment and resources in place, you can operate out of your own home, and see a healthy return on a modest investment.

So think of business ideas that you’re passionate about, and also what has a market demand. Feel free to consider offbeat ideas such as the production of paper carry bags, knitted rugs or rubber carpets, customisedstationery, or even consumables like baked goods, candy, and more. You can then build your venture around these ideas, as they require relatively less capital expenditure. In this day and age, it’s also advisable to make products that are environmentally-friendly, so why not evaluate stuff that’s lying around the house that you can up-cycle into something of value.

Before you begin though, keep the following factors in mind:

Plan everything in advance: It’s crucial that you plan in advance, analyse each business situation, research, compile market data, get a sense of the prevailing customer sentiment and make conclusions based on the research.

Manage money wisely: Managing your cash flow is the single most important factor in running a home-based business. Plan wisely, spend carefully and don’t bite off more than you can chew.

Focus only on the customer: Put your customer at the core of your business and let your policies, warranties, payment options, operating hours, presentations, advertising, and promotional campaigns be focused only on your customer needs.

Project a positive business image: Rely on your imagination and creativity but pay attention to the smallest details when creating and maintaining a professional image for your home business.

Customer knowledge: Try to know your customers well so that you can provide personalised attention and gain repeat business.

Sign up with Amazon: Once your home business plan is in place and you are all set to roll, you need to focus on the marketing. This is where the Amazon platform can come to your aid. Our customised services are tailor made for an independent, home-based entrepreneurs like you. Our global customer base is also an added advantage. Get a head start by registering as a seller on Amazon and watch your home business grow.

Become an Amazon seller today
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