Business Mantra News
As per people belief, starting an online business is a difficult task and that too from sitting at home is not their cup of tea. But doing online business is not as difficult as people think, it is quite an easy task. You need to be cleared with your objectives that what kind of product you want to sell or what kind of service you want to provide. At first, you are required to make an online website for your business and you can do it yourself or you can hire someone for the same. This website shall include the list of the products or services you want to offer and the website name should be related to your business.
After forming website, you should be aware with the necessary guidelines that are needed to be followed for running an online business from home. Different countries have different provisions for example, some countries require registration of an online business and give a business license. So you need to fulfill all the conditions for starting an online business. In India, you have to register with VAT & Service tax authorities or other registrations as required by law but not because you are doing online business.
You need to know about your tax situations that would be affected by running an online business. Even if you are sitting at home, you still need to disclose your income from online business as business income.
After completing your paper work, a home office should be set up so that a separate premise is there for conducting your online business. There should be a communication method like telephone lines so that customers can contact you for their query or orders, etc. a proper communication system should be there for satisfying customers’ needs and there should be a proper feedback channel.
Apart from telephone line, its good to have a separate hardware and software for your home office in which you will save lots of money in having your own scanner, printer and fax machine. Furthermore, software should be of latest additions for accounting, word processing, etc. That latest software addition will help you in keeping a track of all your expenses and revenues of your online business in a better way.
After having stability in your business, for further progress you can start outsourcing. Outsourcing will help you in reducing your work burden i.e. you can hire someone to do little jobs like creating market brochures, emails, etc. so that your ultimate focus shall be on your business goal and which will lead to success.