Make MONEY - Work from HOME
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Working from Home

man on pc and phone working from home

There are different types of people who decide to work from home : employees who are able to work from home for an employer, homeworkers who are self-employed and those who decide to run their own business from home.

To work from home for yourself needs planning and information; there is no employer to take responsibility - your work is controlled by you.

The first step to working from home is to ask yourself - are you the right personality to be self-employed?

We are not all destined to be bosses, some people are more happier doing a job and leaving any worries behind them when they go home. Instead of starting your own business you may just need to find the right job.

Being self-employed successfully is not always the right path to take if you are merely unhappy with your work. To run a profitable business you need to really believe in what you are doing, and your ability to make a success of it.

Working from home - starting your own business

Check out the following list and be honest with yourself - do you tick the boxes necessary to be your own boss?
  • Are you able to work under your own initiative, without somebody telling you what to do?
  • Does your business idea motivate you to put in the hours?
  • How do you feel about personally taking responsibility for decisions?
  • Are you prepared to sometimes take risks?
  • Do you perform well under pressure, or do you get stressed easily?
  • Are you a positive personality, or do you see the negative side to things more often?
  • Could you dust yourself off and bounce back from any setbacks?
  • Would you be happy to learn new skills?
  • Are you confident meeting new people and 'networking' to get your business noticed?
  • Can you avoid getting distracted in your home, and taking too many breaks?
  • Do you have support from your family and friends?
  • If you are planning on working from home, do you have a place where you will be able to work undisturbed?

    happy woman with work at home filesRunning your own business can be full of rewards but you need plenty of confidence, an ability to deal with pressure and stress, and self-reliance. There are times you will need to be resilient - when things go wrong, or you fail to achieve what you wanted. But we all learn from our mistakes, and you'll be ready for such a situation next time.

    “The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty.”

    Winston Churchill

    You need to see every glass as half full not half empty, an optimist has far more chance of achieving success in running their own business, than somebody who looks at situations pessimistically. Motivation is vital, even purely to get you out of bed every morning! You have to be organised and focused - such as with what you need to achieve daily, and also to cope with all the paperwork being self-employed brings with it.

Reasons to work from home

  • No more commuting to and from work - you can save time and money.

  • There are tax benefits from working from home - you may be able to claim part of the costs of the rental, or mortgage fee, and other expenses such as heating, lighting and telephone.

  • Flexibility of working hours can be particularly helpful to parents of young children. You may find you can spend more quality time with them when you can rearrange your work hours to suit.

  • Nobody telling you what to do - all your effort will be making you the profit, not somebody else. This is a great incentive to work hard!

Once you have analysed your reasons for working from home and decided whether you are a suitable personality 'to go for it on your own', then you are ready for what can be a satisfying and exciting move to working from home.

So, you've decided that becoming your own boss is for you - congratulations! This can be a life changing moment, but it is only the beginning. You need to prepare carefully when you have decided to work from home. Once you have chosen your line of work, then you will need to do market research to identify your market and assess the customer you are aiming at. This will be useful for the next all important step of sorting out your finances.

Writing a business plan is useful preparation for yourself, and also necessary if you are going to apply for financial assistance, such as a business loan or grant.

Woman opening business outside bar

Women in Business

Taking that first step to becoming your own boss requires courage and confidence in your own abilities, and for women it can be even more daunting as the business world is still dominated by men. Recent figures reveal that men start up 150,000 more businesses a year than women.

However, the tide is turning as according to a recent employment poll one in every hundred women workers plans to start up their own business in the next three years. The world of employment is changing and women are now achieving a successful breakthrough into the business world.

Business start up

Starting a business in the UK is now much easier than it used to be. There are many resources that offer valuable advice about starting and running a business. This extensive support network includes: governmental, educational, professional and voluntary companies. Even in the current difficult financial climate many women find that starting a business can be a much more viable and flexible alternative to a 'normal' job working for someone else.

The government has backed an incentive specifically to encourage women to start their own business, including the very successful National Women's Enterprise Day.

Some local authorities now offer business grants aimed at helping women to start a business. Finding the right finance to start a business used to be much more more difficult

Find the best loan to suit your business plan from a lender who specializes in UK business loans. The right finance will enable you whether you are starting up a new business or planning on expanding your existing business, and need investment to realise your entrepreneur dreams.

Find a small business loan with our business loan calculator


Business Plan

The first step to starting your own business is to get it down in black and white in the form of a business plan. This will really help you recognise what your targets are and how you hope to achieve them, including the all important funding requirements. Having a business plan in place right from the start is important for future investors and will highlight your forward planning and decisive management skills.

What do you need to be a successful female entrepreneur?

  • An idea for a business - can you do something better, faster or cheaper than everyone else or can you exploit a niche in the market? Check out our great ideas for starting a business.
  • Confidence - you need to believe in your product or service and your own ability to be a success. That means not being afraid to take risks or make
    difficult decisions.
  • Enthusiasm and self-motivation - most successful entrepreneurs recognise that when starting a business it is always best to choose something you are avidly interested in - a hobby, interest or specialist knowledge that you have. Also if you have had working experience in your field of business it will be easier. The top advantage when starting a business though is having enthusiasm for your subject/product/service. This will give you the edge over your competitors, as it is always obvious to the customer.
  • Financial advice - this is vital when setting up initially, and later to grow your business and continue to manage your finances effectively. Don't stay in a rut,
    or accept the ordinary when the time is right expand your business to your potential.
  • Flexibility - you need to adapt to your business and initially you will need to put in often long hours. The advantage of being your own boss though means you can adapt your working hours to meet your needs and lifestyle - using early mornings or evenings to catch up if necessary. If you work from home then balancing family commitments can be easier.
  • Networking - to be successful you need contacts and not just via email, often meeting others face-to-face can be more effective and result in new ideas and
    support. Women generally have an advantage with communication skills, and excel with top customer service skills.
  • Training - learning new skills and improving your own and your staff's strengths and talents will keep you current and on the road to success.

Fulfil your dream and make starting your own business a reality this year

Woman EntrepreneurWomen are making a real mark on the business world and are growing and developing their own businesses and themselves.

With plenty of self-confidence, determination and a strong belief in their ability women can be highly successful entrepreneurs.

There are far more millionaires these days and most of them are self-made and own their own business - you don't generally get rich working for somebody else!

Then there is the satisfaction that comes from having had that initial idea and taking it forward to become a successful business - priceless!

Finance for small business


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