Did you know that in 2013 about 69% of all US businesses were starting at home? This number has gone down a bit in the following years. However, with the current situation in the US, an at-home startup might be the best choice for aspiring entrepreneurs.
Why Do Home-Based Small Businesses Rule in 2018?
No matter how many factors affect the development of a business, everything always boils down to money. And that’s why starting your business from home, and perhaps leaving it stationed there, is the best choice today.
It’s no secret to anyone that ‘stable’ isn’t the word to describe the US economy of today. Political tension, devastating natural disasters, multiple social issues, like the latest school shootings, all contribute to the complicated economic situation in the country.
This instability means that starting a business of your own is even more risky as it is by default. Therefore, any smart entrepreneur should strive to limit those risks as much as possible. Not renting an office space is one of the major contributors to that.
Considering this, cutting down your overall costs will be the essential part in determining the success of a small business today. Luckily, the technology of 2018 gives you many opportunities for that.
How Does One Start a Small Business Cheaply in 2018?
First and foremost, you need to go digital. It doesn’t matter what kind of product or service you are selling, you need to do this online if you want to have any chance of getting noticed. When cutting down the costs is your major issue, you’ll need to consider automation solutions. They make running your website and business easier and you get to save money because the software will take over the work you’ll otherwise need employees for. cPanel solutions are one of the most popular automation options for small businesses. However, when using this or any other software you need to take your website hosting into consideration. You’ll need to make sure that the provider that will have their servers optimized for these solutions. You can check this by looking up specialized lists like the best cPanel hosting. Or you can contact the provider directly and find out if your chosen software will run smoothly on their platform.
Of course, to choose the best website hosting you’ll need to know what software you will use. This brings us to the most important thing that will help you to start a small business cheaply, which is planning. You need to not only have a vague business plan outlining your main idea. Today you need to have all your future business, website, software, and services you’ll use planned out in the smallest detail. So, instead of a business plan one needs to create a ‘life-sized business model’.
This, in turn, means spending hours upon hours researching all the solutions that help making small businesses cost-efficient. Focusing your research on software will be most beneficial as today there are apps for literally anything. You can get solutions that will help you build a website, set up bookkeeping and payment service, build an eCommerce store, and all that with no mandatory prior knowledge of the topics.
All of this boils down to small businesses of today being 100% digital. And this makes having real physical offices an almost obsolete practice. In fact, today you can rent out a ‘virtual office’ while working from home. This tech ultimately allows you to get an official address of the company being headquartered in some business center, like Silicon Valley, without actually paying a fortune in rent. You get all the perks of actually having an office there, including the use of conference rooms and the like for special meetings.
The point is that at-home businesses are again going strong and as the tech opportunities grow, the need for brick-and-mortar offices goes down. If this trend continues, the office buildings of ten years from now can change drastically.