For most new entrepreneurs, especially when they’ve decided to hold a one-person business from home, the first step is to have a business idea they believe in. Does it feel like you’ve got everything you need to succeed once you’ve found THE idea? However, before you launch yourself in the creation of your business, you need to make sure that the idea is viable. If you need to gather funds to start your company, you will be able to find an answer rapidly. The reactions of potential investors, or even your banking institution, is a helpful guide. If people don’t believe in your business, it’s often a sign you need to do research and adjust your strategy before you can start. But if you intend to start on a small budget in the comfort of your own home, you will need to review your chances alone. How do you know if your business is viable from a market’s, technology’s and customer’s perspective?
What does your market research reveal?
Can you safely enter the market?
The first thing you need to ask yourself is, naturally, whether the market is ready for your business idea. It’s an answer you’ll find through the conduct of your own market research. Indeed, the market research will help you to identify and understand your target audience, and define ways of supporting business growth and sales. The demographics of potential customers and their intentions, problems, and needs are essential information to drive the most relevant offering and communication. But it’s also a way of finding out more about your competitors. Without knowing who you are up against, you can’t maintain a viable presence on the market. Ultimately, for a lot of new businesses, the main reason for failure is lack of market research. In short, however dull it might seem, you need to roll up your sleeves and analyse your market.
Is your home office tech reliable?
When you work from home, you need to surround yourself with tech equipment you can rely on. From your phone to your laptop, everything has to be performing. You also have a responsibility to protect your business data and equipment. That’s why you need to know how to backup Mac to an external hard drive on a regular basis. Indeed, this will keep your data safe. Additionally, keeping strong passwords for third-party in-browser tools and avoiding suspicious links will also help in maintaining the safety of your business data and equipment.
How safe is your website?
Finally, to the big worry: How safe is your website? You need to provide your visitors with the highest possible level of security. Indeed, when over a quarter of people are actively limiting their activity to sites that they consider safe, an unsecured website means more than a potential risk for customer data. It’s also closely linked to a loss in customership. Consequently, strong passwords for web admins and updated software are a must. Additionally, keeping an HTTPS connection can make it more difficult for hackers to get through to your data.
Finally, it’s now up to you to answer one simple question: Is your business safe enough?
