With technology advancements and a lot more opportunities for pay per month subscription services there are more opportunities for people to start businesses without spending a lot of money upfront.
You can either decide to be self-employed sole trader or you can set up the business as a limited company. To set this up as a limited company you can do this really for less than hundred pounds and there’s plenty of online advice on how to set up a small business.
Given the current economic situation with the Covid19 pandemic some people may not want to quit their job to start a business and they may want to try and run a business on the side to see if it’s viable – this will also potentially provide them with an extra level of income.
Keep in mind that you have to keep records of your outgoings and incomings for the business as this is a requirement to run a business. There are software options available to make this easier for you. I would really recommend using Google and doing internet research to find out what is available online and how you can sell your products online. There are accountancy softwares you can use like QuickBooks. I have QuickBooks myself is quite easy-to-use and it makes things easier when you need to submit your accounts which is HMRC if you’re in the UK.
In terms of dedicating time, it’s important to ensure your self-care and well-being is priority, however even if you just spend 30 minutes a day in the evening on a part-time business this can help you to gain extra income and to test if the business is viable.
People can use social media as well to freely promote their business services and their products. They can also use social media to test their business and to see if there is demand and to see what their potential customers may want. There are many people using Instagram, Pinterest, and Facebook to promote their products. Snapchat is also becoming quite popular now to promote your products and services. If you’re new to social media marketing you can either get support from someone else that can help you or you can do some online free courses in digital marketing which are very useful. There are lots of online free courses you can do to help you with your business. There are lots of courses online that are offered for free and some of these are accredited and you can get qualifications from doing them but overall with the knowledge you gain doing them that will help you to grow your business.
There are websites that you can go to get access to freelancers globally from as little as five dollars an hour or five dollars per project. You can get access to website developers, app developers, graphic designers and other experts that you may need such as a logo creator that can help you to create your logo for example. You can also find specific experts in the industry you’re keen on opening a business in. If you are an expert in your field you can also use these websites to sell your own services and make money via these freelance platforms.
If you need videos created by your business, you can easily get this done now online via freelance websites or you can use software that helps you to make videos very easily with already made video templates that you can simply edit. Videos of good to use for marketing your products or services online.
You don’t need to employ people at the early stages you can do this yourself with the help of virtual support from people all around the world by using these on demand freelance websites which gives you additional resource as and when you need it.
If you need a website and hosting and email address you could use something like Godaddy and they also have a phone number for support so you can ask any questions and they can help you. Pay monthly for website hosting and a professional business email address. You can set up websites now very cheaply using pay per month options if needed. However, not everyone uses a website to sell their items, some business start off just by using their social media channels. You can also accept money online for your products using PayPal.
I’ve seen many people setting up online businesses selling products that they are making such as candles, soaps and bespoke Christmas presents – anything to make extra money this year, and they are using Facebook to sell the products. There are social media graphic design softwares that you can use, some of these are free and it enables you to create good social media visuals which will help you to get your business recognised online. In this pandemic I’ve seen people offering animal care solutions where people are offering to look after their animals such as the dogs, cats, hamsters. They are promoting this business via their social media channels and that’s how they are getting new customers.
Think as well about how you plan to communicate with your customers, do you want to speak to them on the phone or will everything be digital? Will customers be able to contact you via Facebook messenger via WhatsApp for just by email? This is definitely something you need to think about as customer service is really important when you’re starting a new business. If your customers are happy they are more likely to mention you to other people that they know and you’ll get referrals and more sales.
In terms of to-do lists and organising your time, you can use your Outlook calendar or your iPhone calendar for this. Set yourself achievable task lists and achievable goals whether each day each week or each month to help you with your part-time business.
Wising you great success in your new business.
About the Author:Faye Eldridge is the founder and director of The Fyami Marketing group limited, a curious growth hacking agency in London, that offers demand generation, lead management, content writing, email marketing and social media marketing services. She has a Master’s degree and is currently partaking in doctorate business research relating to the CMO and CTO collaboration.
