Home-based work has been gaining popularity at an incredible pace in the last decade.

Whether you’re an employee or self-employed, working from home is becoming more common each year. Many people value the option to work at the comfort of their home more than pay raises, retirement plans, and office conveniences. The latest statistics show that offering more flexibility to employees benefits the companies as well. 

  • Companies that hire remote workers have a 25% lower turnover than those who don’t.
  •  Over 70% of employees are more willing to remain at their job if they could work from home.
  • The number of home-based workers has increased by over 130% in the last 15 years.
  • Over 8 million Americans work from home occasionally.

Data Source

These are the statistics, but you’re probably wondering if working at home is indeed worth it, and more importantly, is it the right option for you. Let’s look into it.

 

Benefits of working from home

No distractions

If you’re not a fan of office dramas and dealing with coworkers at 9 AM, working remotely may be the right option for you. You’ll avoid the not-so-necessary meetings and group projects that every corporation seems to love so much.

 

Less stress

Home is an environment where people feel safe and comfortable. Office, on the contrary, usually makes us nervous and exhausted. 

 

No commuting

A typical working day in the office takes 8 hours out of your day, but add commuting to the equation, and it’s probably closer to 10 hours total. By staying at home, you’ll save time and gasoline.

 

Healthier lifestyle

Operating from home will give you more time to eat better, take breaks to exercise, and reset.   If you find it hard to stay fit, working from home may be for you.

 

Increased productivity

The majority of remote workers claimed they get much more done at home than at their office. Be it the effect of minimizing distractions, a pleasant environment, or working alone – the fact is that it just works.

 

Businesses you can start at home

If you’re thinking about ditching 9-5 and becoming the captain of your ship, at your own home there’s a lot of options for you to choose from:

 

Offering Services Online

If you have any desirable skill, you can offer your work online. 

When you don’t have any potential clients, take advantage of sites such as upwork.com. You’ll quickly find business owners that will hire you as a freelancer. Once you establish a client base and become more confident in your remote working abilities, you can leave these sites and create your own brand.

 

Affiliate Marketing

If you want a straightforward way to bring money to your account, consider becoming an affiliate marketer. You won’t need to develop a product, supply chain, or delivery service.   You’ll focus solely on marketing other people’s products and getting paid for doing it well.

 

E-commerce Business

You’ll need some experience with developing and marketing products to do this one effectively. If you do, it can be a great business, especially when it comes to scaling. Keep in mind that the key to doing e-commerce profitably is creating a brand and connecting with your audience. Without a reliable brand, you’d have to compete by offering lower prices, and that’s a hard nut to crack.

 

Copywriting

If you’re a talented writer and marketer, consider becoming a copywriter for online businesses. Good copywriting can turn an unprofitable business into a money printer, so there’s always a massive demand for it.

 

Virtual Assistant

It doesn’t take a lot to become one, and they’re always needed nowadays. You won’t make huge money by being someone’s assistant, but it’s a good start and an excellent opportunity to learn.

 

How to Start a Home-Based Business Effectively

Working on your own sounds great, but beware to not lose yourself in all this freedom. There are a lot of things that can go south if you don’t know what you’re doing. Here’s a list of some dos and don’ts for home-based workers:

Start small

All people want to reach their goals as quickly as possible, but be reasonable. It’s easy to spend money online in hopes of finding some shortcuts. People spend thousands on the best hosting, website design, copywriting, etc. because they submerge themselves in the “studying” phase. They like to think that the perfect preparation is crucial and necessary before anything else. Most of the time, they end up achieving nothing, but losing money.

What you should focus on at the beginning is making just enough money to cover your living expenses. You don’t need top-tier tools to do that. You only need to take action and start doing things that make you money.

You’ll improve the graphics on your website throughout the way, don’t you worry about that. Minimize the costs and distractions for now. 

 

Focus on getting skills, not money

As a beginner, it would only be wise to put the money dreams on pause and focus on becoming an expert at whatever it is that you’re doing. Way too many people chase profits when they don’t even have two and two put together. 

Concentrate your efforts into finding opportunities that will improve your skillset, even if they won’t make you a dime. These can involve offering loads of discounts to get more clients or choosing more demanding jobs over the well-known gigs, that you’re already comfortable doing.

 

Interact with people in your industry

Other people’s input is invaluable when you’re starting, especially if they’re more advanced than you. 

If you’re wondering how to find valuable professionals in your niche, consider becoming an active member on forums dedicated to your industry and follow other people’s blogs. If you’re running a business account on social media, the comment section isn’t off the table for you. Even if they’re your competition, pat them on their back for doing a good job. Most people starve appreciation (even if they’re well known) and will most likely reciprocate the sympathy in the future.

 

Reinvest your earnings back into the business

How do you put yourself ahead of other online entrepreneurs? Only by not spending your profits on improving your lifestyle, but your business. 90% of people as soon as they start making good money go on a shopping spree. You’re sure to outplay them if you live like a monk for a few years and expand your operations.

 

Commit and stick with it

Online businesses are not that different than traditional ones. To build anything substantial on the web, you need to be consistent and show up every day, which can be challenging even if you’re working from home. Ask yourself why you are doing this, and have other explanations than just money. Focus on the longterm – if you plan for years ahead instead of trying the “get rich quick” tactics, you’ll save yourself from a lot of disappointments. 

 

The future of working from home

The popularity of home-based work shows no signs of slowing down. With the constant increase in population across major cities, everyday commuting will only get worse. Working from home will likely become a new standard, but for now, it’s still just an option. Running a home-based business can save you tons of money and potentially provide a higher income than an office job, that’s why it would be a good idea to at least consider jumping on this bandwagon before others.

I hope this article helped you get your head around home-based online business. If you enjoyed reading this, make sure to follow my website for more insights – I’m publishing new pieces every week.

Stay frosty! 

Lucas

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