15 tips for entrepreneurs building a business from home

To start a business these days, you don’t always have to rent an office space and hire a whole team. As remote business opportunities continue to expand, more and more people are launching their startups from home.

While this option is often more affordable and convenient to begin with, it’s important for entrepreneurs to plan ahead for continued growth. To assist with this task, 15 members of businesskinda.com Business Council offered their top tips for people looking to build (and grow) a business from home.

1. Connect with your target market

As part of developing a business plan, identify the target market for your product or service early and begin networking early and often with decision-makers within that target market. That way, you can understand their pain points and argue why they need you. You can also start drafting clients for when you are ready to launch. This will help with early cash flow. – Scott Green, The G2 Advisory Group

2. Rent for Fit

More than ever, entrepreneurs can build a business from home. Either way, it’s essential to hire someone who’s a good fit, if you already need employees. For entrepreneurs just starting out, you can outsource sales, marketing, development and other functions to help you get to market quickly without lengthy overhead. With the right expectations, clear communication and defined roles and responsibilities, you can go a long way. – Tommy Linstroth, Green Tie

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3. Take advantage of your free time

With so many companies offering work from home and flexible schedules, now is the perfect time to start a business. This is exactly what gave me the time and space to start Outfield in my spare time. I could freely come up with ideas about different business models, test them through customer development activities and finally start working as a startup. – Austin Rolling, outfield

4. Identify key roles and functions

Starting a business requires planning. Consider what functions need to be filled and what options are available. Many roles can be outsourced to another company or an independent contractor offering fractional services. Once you’ve identified each position that needs to be addressed, you’ll need to do a cost analysis to determine if it’s cheaper to hire, outsource, or combine with another position or role to get started. – Robert Depalo, National Financial Network

5. Take advantage of free tools

Building a business from home is now as easy as having an idea, building a social media presence and creating a product that helps solve a problem in an area where you excel. For under $100 you can create a product, build a website, start an email list – you can do pretty much anything. Social media is the best place to start because it’s completely free; slowly start to expand from there. – Michael Leonard, The market atmosphere

6. Focus on positive cash flow

Focus on positive cash flow from the start. Your business cannot grow without profit. Stay focused on the things you outline to kickstart your business and think strategically. Don’t hire a large team, as a small team will adapt faster. Recruit people who share your passion and ideas. Learn to lead and inspire from a distance. Don’t control the team; let them catch and carry the ball. – Michael Podolsky, PissedConsumer.com

7. Believe in your idea

Have an idea, believe in it and don’t let anyone stop you. Our thoughts create our results. Becoming a consultant and setting up a business means taking risks. The clients I advise who make this leap all have one skill in common: resilience. They make an offer for their company and believe it when all the doubters have an opinion. When working with a client during a growth transition, I recommend going in. – Beth Jannery, Titan

8. Delegate to external professionals

If you’re thinking about becoming an entrepreneur, you’re not going to do all the tasks, are you? So delegate and hire qualified home workers who can assist you even if you are both miles away. This is a test of trust, honesty and patience. And once you’ve built a good working relationship, these elements can help grow your business. – Lane Kawaoka, SimplePassiveCashflow.com

9. Make a strategic plan

Planning is the foundation of building a business, even if it is from home. That’s why it’s important to create a strategic plan first when you start building your business. This gives you a clear direction of where the company is going and your vision for the future. The next step is to conduct a market research and then decide on a viable revenue model for your business. – Pavel Stepanov, Virtudesk

10. Get to grips with digital products

Streamlined supply chains have used technology to improve distribution points and hubs. With a focus on digitizing businesses, creating an offering that enables digital products is helpful in gaining traction. By moving to remote teams with access to distribution hubs to reduce shipping costs and speed up shipments for hard items, limited resources are strategically aligned with inbound digital revenue. – Paul L. Gunn, KUOG Corporation

11. Pursue talent no matter the location

Location doesn’t matter. The beauty of our hyper-connected world is that you can start a business from your home and work with people who live on the other side of the earth. This opens up a universe of possibilities when thinking about what talent to bring on board. First, understand who are the key players you should hire first to build momentum. Then contact us and share your vision! – Karim Zuhric, Cascade strategy

12. Free up the physical and mental space

Create a special space for your craft – somewhere without distractions and interruptions (with good feng shui and natural light). Shower, change before you open your laptop and start your working day; this will help you mentally. Make a daily to-do list, then set a schedule and try to stick to it. If someone is better at a task than you are, don’t be afraid to delegate! – Yasmin Walter, KMD books

13. Work on short-term goals for long-term success

I grew my business from a home office to a national presence in just three years. Dress as if you are entering an office. Start each day by listing what you need to accomplish. End each day by reviewing your achievements and failures. Recognize what you did well and what could be done better. Focus every day on achievements that meet your short-term goals, leading to long-term success. – Matthew Claassen, Medigap Seminars LLC

14. Make the most of the internet

In the digital age, entrepreneurs and innovators have the incredible ability to create businesses and organizations completely remotely. With endless resources at your fingertips, the Internet acts as an open playing field to learn, create and perform. By making the most of the vast knowledge hub that the internet provides, entrepreneurship can flourish by starting and building a single website. – Christian Brown, Glewee

15. Focus on business, not location

First, change your mindset, because you are not building a business from home. The brand that will be the projection of your value proposition, capabilities and services has nothing to do with location. The customer experience you create and consistently deliver has nothing to do with location. The infrastructure that supports you and your customer interactions is paramount. Go change the world now! – Gregory Roll, Touchpoint employees