How To Start A Home Business For Founders And Entrepreneurs

•   If our goal is to generate passive income it is ideal to start a Home business

•   It is best to start in a small setup and keep our expenses very low.

•   The logic should be reasonable efforts and multifold benefits.

•   A lean organization structure of very very minimal man force and with minimum infrastructure is ideal.

•   This kind of small setup requires only a limited amount of supervision and regulation of efforts.

•   Let us analyze the basic factors to start a Home business and how the land for sale business can be considered as the best option for a Home business.

BE SMART IN IDENTIFYING THE BEST HOME BUSINESS

•   There are plenty of opportunities for home business. Some of them are listed below

1.   Catering to a limited number of selective people
2.   Catering to many without a particular list of people.
3.   Stock exchange consultant to selective people
4.   Stock exchange consultant for whoever approaches.
5.   Tailoring ( stitching ) on an order basis.
6.   A small setup of GYM with a limited number of  modern GYM equipment
7.   Beauty parlor for men/women
8.   Conducting coaching classes for meditation, cookery, etc
9.   Manufacturing house cleaning solutions, soaps, candles, etc in small volumes.
10. Taking Tuition classes for students. 

•   By listing in this way, we can find many more opportunities in plots in Guduvanchery

•   The choice will depend on our taste and our skill.

•   But we must not only give importance to our taste and our skill. Above all, we have to consider the fact that maximum benefits for smart work.

•   Be clear about how to channelize our efforts in a proper way to do lucrative business. 

•   For this, we have to analyze in the following way

 Untapped potential

 Market demand

 Space requirement

 Manpower requirement

 Infrastructure requirement

•   The analysis of untapped potential and market demand will help us to determine what type of business to be started and how much we are going to get benefitted.

•   The analysis on space requirement, manpower requirement, and infrastructure requirement will help us to determine how much capital is to be invested initially and to be spent month-wise to run the business smoothly without interruption.

       UNTAPPED POTENTIAL

•   The most important thing for any successful business is identifying the untapped potential areas with a limited number of players.

•   This is mainly to get regular business shares without fail on a regular basis in land for sale.

•   At the same time, we must be very particular about the competitors and be sure that a limited number of people are in our field.

•   Otherwise, the chances of losing business will be higher.

        MARKET DEMAND

•   Matching the demand plays an important role in successful growth in a business.

•   For this purpose do a proper SWOT Analysis

1. Strength – Nature of Business and its growth
2. Weakness – Possibility of unexpected changes In rules, laws, and regulations.
3. Opportunities – Constant demand and possibility of future growth
4. Threats –  Presence of unethical business doing people and their competition

•   Select a strong business with consistency and growth opportunities with a limited number of threats.

       THE INVESTMENT IN SPACE, MANPOWER, AND INFRASTRUCTURE

•   Try to limit the space requirement as much as possible.

•   By limiting our space requirement, we can avoid a reasonable amount of money to get blocked in space investment.
•   We can use the saved amount for other business developmental activities.

•   When we concentrate on Manpower, there is no need to concentrate on highly qualified people with high skills.

•   The highly qualified and highly skilled people will demand a high package for their service.

•   It is better to select people with reasonable knowledge, qualification, and skill.

•   Then we can provide a short duration of training for them to get well equipped with our job skills.

•   Here also, we can save money to some extent and utilize that amount for the welfare of the manpower and also for their emergency needs.

•   The quality of infrastructure is very important for best results and growth.

•   We should not compromise or reduce the money to be spent on tables, chairs, computers, laptops, and all other business-related infrastructures.

•   Ergonomically designed chairs of good brand and quality should be used to enhance stress and strain-free quality working hours of the manpower.

•   Electronic gadgets like computers, laptops, etc should be of the latest versions from standard branded companies.

•   The quality of electronic gadgets should enhance the trouble-free operation and also the manpower can be relieved from fatigue.

•   This will help the manpower to give their best

•   No compromise on the money to be spent on infrastructure. It is always an investment for the best results.

            HOW CAN WE CONSIDER REAL ESTATE BUSINESS AS THE BEST     OPTION

•   The strength of the business is its growing nature. The Chennai city expands beyond its city limits and the nearby suburb areas are seeing development in the real estate business.

•   The growth opportunities are tremendous due to the constant increase in the demand for land for sale in Chennai from all the categories of people.

•   Also, the growth in the migrant population from other parts of Tamilnadu and other cities increases the day-by-day demand in this land for sale business.

•   The weakness and threats can be converted to positive things by doing a quality service and developing the confidence of buyers in our reliability, integrity, and trustworthiness.

•   The investment amount on space can be reduced by converting one of our 100 – 150 sq. feet rooms of our house into a working place.

•   We can select 2 people for telecalling and one for a market visit and put our quality service.

•   We can select the people on the basis of the capacity of understanding skill and responding to the queries skill in a good manner.

•   Not much qualification is required and only training of one week will make the manpower to excel in real estate transactions.

•   So the amount to be spent on the manpower salary can be saved to some extent.

•   A limited number of quality branded electronic gadgets must be purchased to get and establish our name in the business.

        CONCLUSION

•   Even though we plan for a Home Business, we have to see the potential and demand by doing a SWOT analysis.

•   Always adopt a smart way of doing Home business

•   Familiarise and update ourselves with all the latest developments of our Home business.