Here is how to work from home without investment?
Did I say “work from home without investment?” Yes I did. But without enough capital, this is going to be tough. Yet it is possible. How?
You can start working from your home without investment if you have the right expertise and know-how!
But how will it let me start my home business without investment?
Not exactly without investment; but with minimum possible investment!
This is because of your expertise in your business you can take up many roles yourself. You can be the business director, accountant, customer service and even delivery boy. And by not hiring outside help you will save considerably.
So the key to start a business without investment or with less investment is to select a business line where you have good expertise.
As your business grow you will need more people. But before you employ a staff, check if a virtual assistant can do these jobs. You can easily give many jobs to a virtual assistant. Some of these jobs are your email management, appointments, follow ups with clients, basic reporting, phone answering services etc.
All of these jobs can be handled by a Virtual Assistant at a very reasonable cost.
How to save on creating your website?
You will definitely need a business website. Try if you can do it with free services like Wix or Weebly. But I personally recommend you to do a WordPress website; preferably yourself. It will not be that difficult. You can do it for almost free. You only pay your web hosting and domain name charges. Together that will be around around roughly $87.00 for a year. But In the long run this will definitely turn out to be a good decision.
Check the links below for a video training on creating your WordPress.
I have also included a link to take your web hosting and domain registration.
You will also need software to manage your business communications and finances. Most peoples immediate response is to go for MS Office and Quckbooks. No doubt, these are excellent applications. But it will cost you some serious cash. If you want to save here, you can check Open Office instead of MS Office and either gNU Cash or Turbo Cash in place of Quickbooks. Check these link
For your email, I strongly suggest you stick with Gmail rather than Outlook or another desktop email software. The advantages are many. You don’t need to spend time on backing up the data. You can also access your mails from anywhere.
Even if you have your company email account created with your domain name, use Gmail as an email client. You can easily configure Gmail to send and receive your mails as if they are going from your registered company name. Check this video below to setup your emails through Gmail
Digital Storage for your data backup
For your digital data storage, I recommend you to take a free Dropbox account. It allows you around 2GB space free of cost. This is more than sufficient to save your data back up. Make it a practice that every day you do a back up of your files and store it in Dropbox. Preferably do this just before you switch of your computer for the day.
You can find many automation software to do this. But I strongly suggest that you manually do the backup job yourself.
As your business grows, you can think of taking a paid Dropbox account which offers much more than just storage area. Click here to take a Dropbox free account
How to save on office furniture and stationery?
It is important that you must have a well furnished office with all the office supplies. The best way to do this and control the cost is to make a list with two options; a “Must Have” list and a “Nice to Have” list
As the name says this list must have everything that you will need for your business. Your office table, chairs, Internet connection, your PC or Laptop, printer, scanner and photo copier etc. You can now buy printer with fax, scanner and photocopier at very reasonable price from Amazon. This will let you save money. This will also let you save space in your office.
Your office stationery, business cards marketing materials, flyers or catalogues all of this will come under “Must Have”. Is there anything else that you need to for your business? Add it to this list.
“Nice to Have”
Here you can list anything that will make your office more comfortable. But these are not necessarily something that you need immediately to start your business. A coffee maker or Espresso machine can fall into the this list. Same way, anything else you can think of that will help you make more comfortable in your office, add into this list.
For your office furniture, check if you already have furniture at home that you seldom use. If not try the used furniture. Make it a practice that whenever possible borrow rather than buy and buy used rather than purchase new.
For your logo and office stationery, you can get it designed by a graphic designer at Fiverr. This is only if you are not a designer yourself.
For printing your business cards and office stationery there are many online services available. You usually get very good rates from online services. You can get all your stationeries printed online at a fraction of the cost offered by a local printing press.
As you can see from this article, if you have the expertise and know-how, you can cut the starting cost. You can even save cost on running your business.
The key here is your expertise in your line of business.
I hope I have shown you areas where you can really cut the cost. But Keep in mind that your primary aim must be to generate a profit from your business; not just cutting your cost. Put your energy towards that goal.
One word of advice.
Don’t try to save on your business card and office stationeries that you send out to your customers.
Why is this?
When you send invoices, estimates or business letters to your customers, these will eventually land on a decision maker’s table. The quality of these documents will definitely have an impact on your customer’s mind. Try using recycled papers. It will emphasise the fact that you are attempting to be environment friendly. This can gain the favour of most customers.
Any additional cost you incur using expensive stationeries, you can think of as your indirect advertising cost.
As you have noticed in this article, there are many ways to start your home business with minimum cost. And when you look deep into this, this is all made possible because of the Internet.
As the Internet has opened up opportunities for us to run our own business from home, it has also opened opportunities for scammers to generate income in an entirely different way.
Don’t fall for offers from these scammers. At the same time, always keep an eye for common sense tips and tactics that you can use in order to grow your business. This is really an important factor. Because Internet and business possibilities are rapidly changing. The key is to keep an eye on the new development around us.
But how will you identify a scammer?
When I was coming through my online business development stages I made a strict policy. Never accept any offers from anyone where I have to make an upfront fees. Unless of course they are reputed companies like Amazon, eBay, Alibaba etc
What do you think? Share your story in the comments.