Creating a business can be an exciting undertaking, even more so if it’s something you can manage from the comfort of your home. But as any entrepreneur will tell you, establishing an online business from home is anything but long lunches and sleep-ins. The key to success with your online business is to give yourself the right tools to maintain and grow your business sustainably. Let’s walk through the best ways to support your home-based business online.
No one wants to be on the wrong side of the ATO. No one. Which is why you should lead with a compliance first approach to all of your accounting and reporting matters. This also extends to your employees, with Single Touch Payroll in Australia now a legal requirement, and one that has significantly streamlined the reporting process for both employee and employer. You will also want to ensure that you have registered for GST, registered your business name, and are operating compliantly. If you are unsure what else you need to register or report, have a chat with mature business owners or give the ATO a call.
Find the right solution, not a popular solution
At various points in time, we are influenced by trends that are making the rounds in our circles. While some turn out to be the right fit, most will not be the exact solution you and your business need for success. When it comes to website hosting, e-commerce, sales platforms and even your content – make sure that you proceed with something that will best represent your brand. Some brands will be prolific posters to Instagram and Facebook, whereas others shine best on webinars or through email marketing. You don’t have to be everything to everyone, you only need to excel at the solution that will best garner engagement and conversions.
Workflow enhances productivity
The concept of workflow and how it impacts our business is an issue that has taken the limelight in recent years. For many of us, a workflow is simply squeezing as much work into the day as we can and hoping that nothing is left out. Although it doesn’t have to be this chaotic. The rise of workflow platforms and apps have made managing deadlines and projects a lot easier, and sometimes it’s even fun. These workflow apps can be as simple or comprehensive as you need them to be, designed for one person or a much larger headcount. Most of these platforms are free but take the time to trial a couple before you commit yourself and your employees onto one that isn’t quite right for your business operations.
You are no doubt an expert at what you do if you have been able to build an online business, but that’s not to say that you should cap your education here. Pursuing further education and exposing yourself to learning opportunities will be one of the greatest gifts you can bestow your business, so set about designing what courses and capabilities you will undertake next. We all learn in different ways, and for some that will be a classroom setting and for others it’s only a webcam and a laptop is all they need. Make your way through some free training courses, and then you can better understand the format you like and hone in on some specialised training and courses in that set-up.
Supporting your home business online is a consideration we tend to rush through, believing that the production element needs more attention. The fact is, failure to set up your business right will always lag current and future processes to a point where you can no longer do it all. Take the time to audit and enhance your home business online, and start thriving at a new level.