8 Easy Steps To Start a Business at Home

Do you have a passion or skill others might pay for? That could be the beginning of a successful small business. 

1. Come Up With a Business Idea

2. Decide What Product or Service To Offer

Will you offer physical products, a service, or a mix of both?  Once you understand your offerings, begin understanding your target customer.  

3. Postpone Branding

Branding only works when it mirrors the company's actions and ideas. As you get your company off the ground, your brand will emerge. 

4. Get Your Employer Identification Number

Even if you expect to be a one-person show, getting an EIN is good for business and security reasons.  

5. Register Your Trade Name

If you don't want to use your personal name for your home business, you might need to register a trade name. Check state laws on the requirements in your specific location since regulations can vary from state to state.  

6. Get Your Business License

Your city or county will require you to purchase a license to start a small business at home. 

7. Prepare a Business Plan

Think of your business plan as a roadmap that outlines the necessary steps to achieve your goals and help you stay on track.

8. Decide on a Business Model When starting a new business, jumping right in without thinking about the legal structure can be tempting.  The way you set up your business can have consequences in the future. A sole proprietorship may be chosen for ease and simplicity.