So, you work all day, but have this burning desire for financial freedom. Well, the sad truth is you won’t get there working for someone else, even if you win the lottery. And the sadder truth is, chances are you will be back to where you are financially, or even worse, within three years. You’ll have better chances by starting a home business in the UK.
If you have that commitment to start a home business in the UK on your own, then you should cover the running costs yourself and grow it organically. According to many experts, over 90 percent of successful modern-day businesses start this way.
With the many free tools we have today (and a dose of sweat), you can create a website for next to nothing. That should jumpstart your home business in the UK such as e-commerce, perhaps a new invention, or specialised personal services. It’s also easier than ever to go online and register your company and intellectual property, as well as to start advertising through social media and search engines.
There’s no secret to the do-it-yourself approach. Just defer payment, maybe in the form of commissions. Or, you could choose to barter services. At this point, you’re still starting off, so take a cautious approach to anything requiring a cash outlay.
Here’s some key suggestions I recommend:
Begin your new business from your home
Since the birth of the web, your office’s location is irrelevant. In fact, you may not even need an office. Many companies and individuals now work remotely. Even in established global corporations with huge offices, many of their teams are spread all over the world. Location has become only secondary to delivery and quality. So when starting out, avoid paying rent for an office! Eventually, you may also realise that you don’t need an office at all.
Exchange services and skills with other people
Use your network and the internet to skill-swap. Here’s how it works:
1. Find something that you need.
2. Find a skill you are good at.
3. Find someone who needs that skill. That person should also have the skill that you need. For example, you’re good in writing copy but lousy in web design. Here, you simply need to swap your skills with a web designer who needs a good copywriter.
Think outside the box, think like an entrepreneur, and leverage your time and skills with others. Collaboration is the way to go!
Do It Yourself
When you start your home business in the UK, wherever possible, do all the tasks yourself. As you go along, document everything that you do, step by step. As your business grows, you will soon need to hire people or outsource freelancers. By that time, you will already have a process guide in handy to train your new team. Because you prepared well, you’ll have more time to develop your business further.
Spread The Word
You can find many successful entrepreneurs – making millions of pounds a year – who don’t need a large building and an army of staff just to be visible worldwide. Using multiple social media channels, a blog, email, and voicemail allows you to have that same image and level of customer support. Keep your costs down, but keep your company’s visibility and presence up.
Reinvest Your Income
To be a successful entrepreneur, taking only a very minimum salary during the first few years is key. Make sure you reinvest most of the profits back into the business to help with organic growth. Doing so can further shorten the growth period of your home business in the UK to months rather than years!
So then, better be prepared to put off that new car or holiday out of the country until later. A good way to help with this is to have a “Vision Board” above your workstation. This board shows those things you expect to do one day. Take photos from magazines, brochures, or the web and pin them to your board, so you can see them every day. You’ll be surprised at how much this will help focus your mind on building your home business in the UK.
So build your new home based business on a shoestring, start small, and grow organically as you sales increase. Keep your eyes on the prize, and stay focussed and committed! Soon enough, you’ll be living your dream of financial freedom!
To learn more from an expert about starting a home business in the UK, check out www.icopyit.co.uk. You’ll also find a proven home business idea from there!
And oh, don’t forget to apply for our small business tips newsletter and begin to learn more about how to make money online. Leave your details on this site and I’ll send you my free report; ‘Online Business Ideas’.
Every success to you,