Basic Guide to Set up a Home Based Business in Hong Kong
25 January, 2019
Do you want to turn your passion or talent into a second career? Have you decided that you do not want to work for someone else anymore? Regardless of the reason, launching a business where you can work from the comfort of your home is a goal of many. As exciting as the prospect is, you would have to start the business just like any other out there.
In short, just like every other business activity that you might work on, you would have to prepare a plan and prepare yourself to work towards the success of the idea. Each step will be important towards your goal of working in your home based business.
Here are the main steps that would help you start your home based business:
Step 1: Find Your Space
The very first thing that you need to ensure is that you have a perfect place to work from at home. Even though you can work perfectly by sitting on the couch or on your bed, it is always better to have an official place in your home where you can work. It can be any place in your home, from a spare bedroom or even a den. You should keep a desk on the side that would help you give the motivation and office feel which you would use for working.
Regardless of the space you choose, ensure that it is someplace that is compatible with your work and inspires you every time you are there. It is vital that everyone who visits you or lives with you should treat this place as a sacred area for your work. As a matter of fact, you too should treat this workplace as a sacred one.
Additionally, it is crucial to set up a place for your work as it would help you develop a routine. This would help you train your mind and body to link the workplace with you being highly productive for your business. Without a workplace in your home, you may fall back onto bad habits, and lose the efficiency and work you put into your business.
Step 2: Set Up Your Space
As soon as you have decided about the workplace you are using for your home based business, you need to decide about the things that you need around you in that space that would help you be highly productive. Other than the basic things like the pens, stapler, and paper clips, here are some of the things that you can keep:
A Comfortable Desk and Chair
Do not underestimate the importance of the desk and a perfectly comfortable chair in the workplace. That is why you see many offices ensure that the cabins have the best possible and most comfortable desk and chair sets for the workers. Working at home would need one for you as well in your space.
Make sure you pick up the best one as you would be spending most of your time here. And if it is not comfortable, you would be focusing a lot on pain and it would waste your time.
Filing or Shelving Cabinets
How much paperwork do you think your business would have? Even though you may be lucky enough to keep everything digital, you would still find yourself surrounded with paper, and would need to find a place to keep it in. With the help of filers or shelving cabinets, it would be easier to store all the papers without much trouble.
By keeping your space uncluttered, you would be able to concentrate more on your work. In short, it would lead to more productivity. Hence, ensure that you have a place to keep the papers, even if it is in the drawers of your office desk.
While it is the nature of some to create their best ideas and plans with a pen and paper, others would prefer markers and a whiteboard. What's your best way for brainstorming? It is better to invest in the equipment to help spark your creativity, instead of starting off without it. You might lose the best ideas or end up wasting some precious time later on. Whatever the thing may be, get it to begin your home-based business with a spark and a boom.
NOTE: It is not necessary that you need a place to write, some might find playing a game or others inspiring. Every person has their own way of creating the spark in their mind to get creative ideas. Think about the one that helps you the most.
Step 3: Get Connected
Every business needs a communication portal. Without communication, a company would not be able to get customers, make sales or take the help of outside contractors to get tasks done. There are a lot of reasons as to why a company needs a great communication portal. So, the next thing you need to focus on is - what kind of communication services and equipment you need.
Here are some ideas that can help you decide what you might need for offering your services and communicating smoothly:
Laptop or Desktop PC: Based on the kind of business that you have, you might have to upgrade your system or purchase a new one. In case your business uses a lot of videos and graphics, it is better to spend money on the system that has a much better RAM, a higher processing speed, and bigger graphics. Normally, you can look for an i5 INTEL processor at a minimum, an 8GB RAM (memory), and a 4GB graphics card.
Phone: Even though you already have a cell phone, a cell phone isn't the best telecommunication device for business. The right equipment is a landline, which can be used dedicatedly for business use only. Some companies who also offer landline services tend to provide broadband services as well. This means that you can have two services in one.
Plus, you can keep your cell phone for personal use or urgent business matters. While it is understandable that itâ€™s important for people to be able to reach you easily, itâ€™s also important that businesses have their boundaries, and you should consider having a healthy work-life balance.
Internet Speed: As mentioned above, you might already have an internet connection for recreational use. But now that you have a company, you cannot rely on such an internet service. In short, you need to have a proper internet speed to have all the work done smoothly. You cannot have an internet connection that would go out in between or have a limited amount of data.
For this, comes in the broadband service. Many companies offer broadband services, somethings offering both landline and broadband services together. You can make of use of such deals and have a business landline number set up along with the unlimited broadband services in your office space. Another company that offers ultrafast broadband connections at 100Mbps is HKBN(Hong Kong Broadband Network). It is the fastest service in Hong Kong and would be of great help to you.
Multifunction Printer: With all the advancement in technology, many printers come fitted with faxing, scanning and copying functionalities. So, you would not have to purchase many different types of equipment for these tasks and get the one printer that can take care of everything.
When you go out to purchase the printer, you need to keep in mind that the printer ink would also be a part of the monthly business expenses. Based on your company, you might not need a full-colored printer and can work with black and white. In such a case, get the printer that you need instead of the one that would both cost more and has higher maintenance.
Step 4: Get the Software Needed
In case you have not yet bought Microsoft Office software, then you need to put money into this. It is the most common software that is used in schools and businesses alike. With this, you would be able to create documents, spreadsheets, presentations and even check your email. This would also allow you to easily read documents that your customers, consultants or employees send to you.
Some other notable useful software for your home based business are:
Adobe CS6 Design: If you are a person who needs to add graphics or images in your work, then this application would be a handy one for you. It includes the functions of InDesign, Illustrator, and Photoshop. In short, it is a premier design software suite. And if you are looking for cloud solutions, then Adobe offers creative cloud solutions, where you would pay a monthly membership service, and have access to all the Adobe software.
Adobe Acrobat Professional: This is another software that would allow you to edit PDF files. It is incredibly useful for businesses, allowing you to build and edit PDF files for your work.
Step 5: Develop a Business Plan
Even though this step is last, it would be one of first things you do before looking to work from your home. And the best way of getting all the thoughts in place and follow your idea properly is by first creating a formal business plan. This business plan would be like a blueprint of what you need to do and how you need to do it. Hence, it is important to create one and lay out all your business ideas on paper. And If you do not know how to start with a business plan, you can check for free sample templates online. They would help you on how to start with it.
Step 6: Get Ready to Conduct Business
As soon as you have your business plan ready, you can meet with investors to raise capital for your company. Once you get the amount to run your business, you can immediately focus on the things mentioned for your home-based business. One more thing; do not forget to get the respective permits and licences that you might need for legally running the business.
Start to set up your home-based business and begin to earn money by following these simple steps. Do not forget to register your business, incorporate it and even register any trademarks you would be using for your services. Startupr can help you in the process for registration and incorporation of your company in Hong Kong. Find out more about the services that Startupr offers and contact us to have your company set up in no time!
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