You could start a home business with no cash at all. If you’ve got a computer, and a comfortable seat, you can start to make money from home. You could sell things that you already produce or your skills online. You could start a blog, making money from affiliate income. You could even start an offline business like dog walking or cleaning.
But, like most things, your home business could use some investment. Eventually, you might find that to continue to grow or even to stay afloat. You need to spend money to make money. Here’s a look at some of the investments to consider making in your home business in 2020.
Whether your business is primarily on or offline, you’ve probably got a website (if not, start thinking about it now). But many small business sites aren’t very good. They stick to current web design trends, they neglect SEO, they don’t take the time to research their audience, and they look much the same as millions of other websites out there. Some are difficult to read, don’t work on mobile screens, or take a very long time to load. They often face lengthy spells of downtime and other technical issues that make them completely inaccessible.
Investing in WordPress web design can be a massive help. A web designer can ensure your site works well and is fast and responsive. They can help you to create a website that matches your business needs but also appeals to your audience. Investing in web design will also mean that your site is unique, instead of using the same theme as many other businesses with just a few small, often insignificant customisations.
Accounting doesn’t have to be complicated. If you’ve got a system, you keep on top of admin, you file invoices and receipts, and you know what you are doing, you might find managing your accounts easy.
But, not everyone does. If you receive payments from many different sources, earn money in a variety of ways, employ staff, and have a lot of expenses, accounting can become tricky. Then, there’s registering your company, filing tax returns, and getting everything right. If you make mistakes, you risk costly fines, and if you fail to record income and expenses correctly, you could end up paying far more tax than you need to. Hiring an accountant can mean that you don’t ever make mistakes and get fined, you save money on your tax bill, you save time on admin and accounting, and your stress levels are vastly reduced.
Marketing can be another worthwhile expense for your small business. Many home businesses find that even though they commit time and effort to create the perfect products and invest a lot of money into their business, the customers just don’t come.
This is often because of a lack of marketing. Even the best business won’t make any money if no one knows about it.
You might think that you can run your own marketing, now that social media and other forms of digital marketing are so popular, and this is true. But, it’s often more laborious and more time consuming than we expect. Hiring someone to help with marketing, or even a VA to manage your social media accounts can be a big help, saving you time and increasing your earning potential.
A More Productive Office Setup
Many of us are guilty of working on the sofa in front of the TV. It’s comfortable and surely one of the best things about working from home? But is it productive? Do you work well? Is your work high-quality? Do you get it all done on time?
Spending some time investing in a home office space, even if it’s just a desk in another corner of your home, can increase productivity, improve your mental health and help you to get more done, boosting your business.
Gadgets to Save You Time
Gadgets and tools can also save you time and help you to make more money. You might want to subscribe to productivity apps and scheduling tools. Investing in a faster computer, better camera, and other technology could improve your business.
Help with your business isn’t the only way to get more done, improve the quality of your work, and reduce your stress levels. Getting help with other household tasks can also be a great boost. Hire a cleaner, and childcare if you need it to free up your time for other things. This will help you to work without distraction.