online marketplace versus ecommerce store

Want to know the best option for your new ecommerce business, read this
Online marketplace versus Ecommerce store

Today I will be taking my time to look at the benefits and non-benefits as it pertains to stand alone online shops versus online marketplaces in the ecommerce business. I have a special fixation for ecommerce because the internet has made it easy for you to start one within an hour if you so choose to.

Selling stuff is as old as man itself, for as long as humans exist, there will always be commerce. Commerce is as old as when man started exchanging money for goods. The difference with the age we live in is the form and shape it has taken. This means that you do not have to own a brick and mortar store and stock up inventory for you to sell. You can now use the drop shipping model to sell.

When you decide to sell goods online, the next dilemma may be what vehicle do you want to use to make this possible. Apart from sourcing for your goods through online platforms like Salehoo, Aliexpress and co, choosing the right platform will be the next most important decision that you will make in starting your ecommerce business.

There are various ways you can sell on the internet, if ecommerce is your thing, you can sell via Facebook or perhaps via your Instagram account or even through your Pinterest account. But the more professional way of selling can be divided into two major types.

Types of ecommerce Platforms

Online Marketplace: This involves selling in places like Amazon, Etsy, Bonanza, storenvy,eBay etc. To learn more about online marketplaces read my post on 10 online marketplaces where you can sell (with high traffic)

Standalone online shop: This involves setting up your own online store using e-shop providers like Shopify, Bigcommerce or having your own website where you sell your goods.

While you can be successful selling on either of these options, the main issue that is the bone of contention is what I like to highlight which is control over your own business.

Many people have always prevaricated on choosing what platform to use in pursuing their dream of owning an online store because they are not sure of what the advantages are of using either of these options.

While some people have tried to hedge the risks for both by owning on both platforms. The issue is that if you are just starting out, it may be too much of a work for you to start your ecommerce business on both platforms because then you may be spreading yourself too thin to give each platform the attention required to make it a success. In the next few points, I am going to be looking at the pro’s and con’s of the online marketplaces versus the standalone online shop in ecommerce business.

Online Marketplace

Pros

Guaranteed traffic: its called a marketplace because they already have a name that attracts buyers to their platform.

Think of your huge brick and mortar bazaars where people open shops or shopping malls where different kinds of people open shops on a rented floor space. The online marketplace is just like that, they provide you with the platform to sell your goods, you pay rent to own it either before you start or as you make sales. Traffic to your shop guarantees that you will make sales which means your business will start yielding fruits faster.

Wider reach: Online marketplaces often have wider reach because they already have built a name and brand which they are often investing to make it better because that’s where they make their money from. You have access to all sorts of customers as long as you play by the rules. Having a wider reach is a subset of having traffic since you only attract people that you can reach.

Advertising: some online marketplaces provide you with free advertising or they may charge you a commission o advertise your products. Often their best bet is investing more money in their platform to ensure that people want to shop with them.

Low cost: Most marketplaces usually have a free version of their offering which you can use to starts as an online shop owner without paying anything. For example, in Amazon you are offered individual seller option where you pay nothing to list your products and sell, the only snag is that you have a limit to the number of products you can sell per month.

With Bonanza marketplace, you don’t have to pay anything to set up shop, you only pay commissions after you have made a sale. Etsy collects a very small listing fee of 2 cents, This makes sit easy for anyone wishing to start selling on their platforms to easily start with little investment.

Another reason its low cost is you don’t need to pay for a special domain name or maintain a website just to do your business, your only stress is to list your products and sell since all that has been taken care of by the marketplace provider.

 

Cons of Online marketplace

No control over your business: Most online marketplaces have rules which guide them which you must abide by, you do not have control over those rules. If they suddenly change their algorithm you will have no say on how it affects you. For instance, you may be making a huge sale on a platform, and there comes a rule that says your products can’t be accommodated on that platform anymore. You will have no option than to leave that platform.

Sometimes a change in their algorithm may also bury your own products and make it difficult for searchers to find your products. This may mean a huge drop in your sales.  Some online marketplaces may ask you to pay for exclusive display of your products on the front line if you want more customers. That’s the case of Bonanza platform, while you may not be paying anything to register on the platform, there are prices for different categories of services that they offer you. Organic driven traffic may be low if you do not have money to pay for such services.

Fierce loyalty to their Buyers: Most online marketplaces have a fierce loyalty to their buyers, that’s why they offer buyer protection. While this is a good thing because people have to trust that they will not be scammed if they are using your platform for purchase, it can also be exploited to the detriment of the sellers who are small business people trying to make a living.

Some buyers exploit that loyalty and cheat the sellers by making spurious claims that may be false hence causing the seller to either be penalized or shut down, sometimes even without a fair hearing from the concerned party.

 

Competition may be stiff: Another notable con of online marketplace is that competition for sales can be stiff, this is because the consumer has a wide variety of options to choose from when they want to make a purchase. While that may be good for the consumer, it will work against you as a first-time seller.

This is because people are more willing to buy from experienced sellers than from a first-time seller. It’s like a catch 22, you need people to buy from you so that you can have more experience or reviews the currency of experience in such places, people won’t buy from you because you don’t have many reviews.

No Brand loyalty: When you are in the marketplace, there are thousands of other sellers too, so its difficult to build a brand. People don’t search for shops, they are searching for products. Only some online marketplace offers a buyer opportunity to save a shop so as to be able to come back and purchase more form the shop if they so wish.  Even though people may like your goods they cannot be particularly loyal to your brand which is what breeds repeat sales.

Same look and feel:  You cannot customize the look or feel, of your store because it’s a one size fits all. This means you really cannot bring out your personality on such platforms, hence the reason it’s never about you hahaha. The online marketplace has no place for personalization, although some may offer you some aspect of personalization like your header board or logo or picture, at best, that’s all it can do. You will have at look to a stand-alone online shop to find those.

 

Standalone Online Shop:

This is popularly known as an ecommerce store or online shop as you may deem fit. This resembles your normal brick and mortar store where you build your own shop to your taste and design.

Pros of a standalone online shop:

Customization: Like I mentioned above with your own online shop, you get to do as you choose, depending on what platform you chose to use, like in Shopify, you can choose what themes you like, upload your own logo, input your own brand colors and generally put your own feel on the store.

Control: You have control over your own inventory, what you sell and how you sell, you don’t  have to compete with other stores over your type of products. You also have control over what your brand represents and what you want to be known for.

 

Brand loyalty and repeat sales: Because you are able to customize your shop to your taste, you are able to send a message about what your brand represents, people who like your products become your loyal customers. They do not have to check other competing products in the same view when they are shopping. You also able to convert them to repeat customers by offering sign up to your newsletter what you cannot do with online marketplaces.

Better Margins: If you are able to get people to come to your shop via an advertising platform like Facebook or Instagram, chances are that the buyer already knows the price of your goods and is willing to purchase from you, hence saving you from sometimes cut-throat competition that comes from operating in online marketplaces.

In the online marketplace, the same product is shown to the consumer at different prices, and the consumer will always go for the lowest price. For stand-alone web stores such choices are not available hence you make better margins and avoid loss of customers.

 

Cons of Using Standalone Ecommerce stores

Like everything in life there will always be disadvantages to it, here are some disadvantages of using stand-alone shops

Cost: While most online marketplaces often allow you to start with a free registration and perhaps only makes money when you make a sale, for stand-alone stores, you always have to pay a monthly subscription cost in other to keep it running.

This means that even before you have made a dime, you are spending, now if you have limited funds for your startup shop you may find it difficult to maintain it. You also have to buy your own domain name and hosting which you will keep renewing per year, these are additional costs to you.

Traffic: For stand-alone ecommerce store you have to drive your own traffic to your store which costs money and time, you are also responsible for the optimization of your store so as to come up in searches.

This means that if you don’t understand basic SEO principles, it may be a long time before anyone visits your store and the fewer visitors you have the less likely you are to make sales. Kind of worrisome since you have a recurring monthly bill to pay.

Maintenance: You are responsible for maintaining your store, meaning that the site has to be run by you, this may not always be the case if you are using service providers like Shopify or Big Commerce. But all in all, this requires a lot of time and effort.

In conclusion, when starting out as a new business person, if you have limited funds, it’s always better to start with the free platform like online marketplaces so as to navigate the learning curve without running out of funds. As you get better and you are able to make more money you can begin to think of moving to a paid option.

Think of your online marketplace like the mass-produced stuff that you use when you are starting out in life, as you earn more and you have better income, you now develop a taste for the finer things in life and hence you want your own customized stuff.

Everything in life takes time, so be willing to start from where you are, the most important thing is that you are taking action.

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Do you have more contributions to make to my post?, drop a comment below.

 

 

 

 

10 Trending Home Business Ideas in 2018

Discover top 10 Trending Home business ideas in 2018
Trending Home Business Ideas in 2018

It’s a brand Newyear, and the Newyear resolutions are flying up and down, a lot of people have made decisions on how they intend to live their life this New year.

For some people, they are looking for Trending home business ideas in 2018 to tap into, while some already have their own business idea and are thinking about how to start it, for some it may be a change of job or even starting a new job

I am sure you have also made yours, perhaps you are a stay at home mom who has been longing to start a home business but has not found the guts to start one. This may be the year for you or maybe you are a new mom who is on maternity leave and you are beginning to think about how hard it will be to leave your baby and return to your workplace.

You may even be someone who is tired of the daily grind of the job that you are doing, you are in a dead end Job, you get up, work and pay the bills and the cycle continues, you have no joy in what you are doing. The prospects of you moving up is not on the horizon, and you feel stuck.

If any of this scenario applies to you, this year is another year to make a decision that will change the course of your life. The decision you need to make is to start a home business that works best with your lifestyle.

If you are working full-time somewhere else, then start a side hustle that you can build a business with. Whichever situation you are in, don’t make the mistake of ending this year the way last year ended, liberate yourself and use this post to start your life all over again.

Join my email list and get weekly posts that will encourage your journey and give you the needed boost and fresh ideas to explore.

To help your journey, today I will be talking about the 10 Trending Home business Ideas in 2018.

1 Online Restaurant

The first on my list of Trending Home business ideas in  2018 is the Online restaurant business. It is a type of Home business where you get to partner with local restaurants that you love and who provide good food.

You curate such restaurants and you partner with them by marketing their food to your audience, once you make a sale they will be responsible for the delivery of the food to the consumer, kind of like restaurant food drop shipping business.

This is a good business you can do from the comfort of your home, once you are able to develop the partnerships you can then go ahead to market to your audience.

You can make money by taking a percentage of the sales of each meal sold or by marking up the product. Any way you look at it, you can run a good side business with this idea.

All you need to do is to be sure of your delivery times and time to process it. This will work perfectly for you if you are a foodie and you already have an audience around you that share the same likes. A quality camera will be of use as you take pictures of what you hope to sell.

Statistics posits that there is also a high demand for the on- go meals,  especially for busy professionals who value good and healthy food. They are also willing to pay extra for the convenience of having such meals delivered to them.

Take a look at the trend below where 55% of people surveyed looked to ordering online takeout restaurant meals as their way of eating.

Online Restaurant Trending Home business Idea in 2018
Culled from Luxresearch

Be sure to know the rules guiding the business before you get into it.

2 Professional Organizing/Decluttering:

With many people wanting to go minimalist in their ways of living, being a professional organizer can be a lucrative business.  According to Abc News, lots of Americans are choosing the minimalist living and also making it a movement.

You can offer professional organizing as a consulting service where you take a look at the entire home and you design a decluttering plan for your clients to help them move into minimalism.It will surprise you how many people do not know how to declutter their lives, they also do not have an idea where to begin their minimalistic journey.

Sitting down and consulting with such people can make a huge difference as they work towards getting rid of the clutter that their homes have become.

The Newyear is often the time when people make such decisions so now is when you can get your clients signed up. You can structure your services to be a one time service or an ongoing service where they get to pay a subscription to get your professional advice or in-house consultation.

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3Virtual Recruiter ( A Trending home business in 2018)

The American economy is on the rise, this creates availability of new jobs especially as the Tax cuts occasioned by this administration will be encouraging a lot of startups and new businesses and also onshoring of funds. This article posits that the only thing that will slow this growth down is the paucity of people to man the jobs that are being created.

This creates a huge opportunity for anyone who has some level of experience in  Human Resource or Recruitment. You can start a Virtual recruiting service that provides talents for new businesses. If all you have is just your skills and no money to own start a company of your own, you can sign up with a company like Relode, that is offering a hefty commission for helping them to recruit medical professionals from your network.

There also a lot of recruitment agencies who are looking for Virtual recruiters who will deliver the needed professional talents for their business to outsource to their businesses. Therefore you have no excuse not to use this as a side hustle if you work full time now and are looking to make more money in this new year.

4 Social Media consulting:

We can’t talk about the world we live In right now without talking about social media, it has become the melting pot that connects a lot of buyers and consumers to the sellers. The only issue is that companies and businesses are often struggling to learn the best strategy to reach their own consumers if you have skills in social media marketing, this is an opportunity to start a consulting business form the comfort of your home.

You can offer your services to companies who will pay you a handsome amount for your service. If you are business minded, you can develop strategies for them that will enable them to win in the marketplace. I believe that this is one business that you can start with and work towards not just running it a home business but a full-fledged consulting firm as time goes on.

5 Resourcing  Talents for Homecare needs for the Elderly:

As the American population ages, more and more services are required to keep the elderly comfortable as they live longer and longer. This has thrown open new business opportunities as the companies who run the facilities for elderly care are in constant need of skilled talents who will provide the services they require.

If you have any skills or training that has to do with caregiving, you can start a resourcing company that provides talents for the elderly care industry. This is a huge market that needs lots of eye for details. The need can be for those who provide in-home care or for those who provide care for the elderly care in their facilities. Whichever one it is, you can earn a living just by resourcing fresh talents to this industry.


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6 Freelance Writing:

Do you have a skill for writing good pieces that people love to read? then the freelance writing world may be your recourse to starting a business this year. I listed this option as part of the trending Home Business in 2018 because I see a huge demand for content as more and more businesses start a blog for their business.

Many people make a living writing for other people without necessarily having a blog of their own, In fact, in the blogging world, freelance writing is considered an income stream. So if you are seeking a home business that you can start, becoming a freelance writer is a sure way of starting your dream home business.

This is because there are lots of companies out there who require a writer that will consistently write for their blogs. They perhaps do not want to hire a full-fledged writer, of course, so using freelance services means that they can fulfill that need without adding to their payroll.

Some freelance writing gigs pay up to 500 dollars a post depending on how good you are. Here the more popular places you can get a freelance writing gig Elance, Upwork, ProBlogger, freelancing.

 

7 Online Box Subscription services:

Box subscription business is currently on the rise as many people are buying into the idea of getting boxes of products or services that are curated just for them. The first thing you have to do here is to discover which niche you want to play in if you want to know how to discover your niche, get my free ebook

The reason I wrote online subscription box is that I am actually looking at curating materials which are not necessarily physical but which are digital that can be delivered once the person pays. It could be digital materials designed to train someone in a specific area of their need or it could even a potpourri of courses carefully selected to help someone out of a specific issue. Subscription boxes are the rave now and so you will find a huge market for it amongst bloggers and online business people.

Breville Milk Cafe, Milk Frother
Breville Milk Cafe, Milk Frother

8 Dog walking services

This is a home business idea that is evergreen because for so long as humans are here, the pets will be here too. If you have a love for dogs, you can start a dog walking service in your area to help you make an income from home.

If you have special knowledge which you can deliver to your customers to better take care of their animals then you are well on your way to having a Dog walking service that has a consultation as part of its service portfolio.

 

9 Virtual Assistance :

Due to the boom in online businesses and home-based businesses, many home business owners now require the help of virtual assistants in the day to day running of their home businesses. I picked this option as a trending home business in 2018 because I am a blogger and I know many bloggers who have become successful because they outsourced some part of their blogging requirements to virtual assistants.

This has made it possible to scale their businesses as they became much more focused on the part of their business that they were exceptionally good at.

Starting a Home business that is into virtual assistance can be a way of making that income that eventually replaces your fulltime work income and hence enables you to get the life you want.

If you want to learn how to become a virtual assistant, then get this Bundle compiled and written by Sarah of sarahtitus.com You will find that She is a champion when it comes to becoming an excellent virtual assistant. She will teach you via her materials and blog also all you need to do to be able to start up and run.

Binders and Planners by Sarah titus
Binders and Planners By Sarah Titus

 

10 Data mining and Analysis:

With the boom in online business and digital marketing, corporations and businesses are consistently collecting data and churning out data that they don’t know how to use to make their business grow.

Becoming an online data analyst can be a good home business to do in 2018. It made my list for the trending home business in 2018 because Big data is the in thing right now, companies want to make sense of their analytics in other to predict consumers needs and demands in the future, I also know that data analysis is important not only to big businesses but to small businesses as well. Even people who start a blog have to keep track of their data if they want to make meaningful decisions that will grow their blog.

 

Now you have read all through my trending Home business ideas in 2018, over to you, do you want to start a business?  sign up for my email list to get fresh ideas weekly.

The next thing will be to Join a group of like-minded individuals in a Facebook community where we encourage each other.

If you also have other ideas that I have missed, drop your comment below.

 

4 strategies to Jumpstart your Newyear as a Home Business owner.

 

4 strategies to Jumpstart your Newyear as a Home Business Owner
4 Things you Must Do to Jump start your Newyear as a Home business owner

It’s the last of day of the year 2017, today is probably a day of reflection for many people. It’s a time to recheck the different areas of your life to see how you ran throughout this year.

Those different areas could be your home, marriage, finances, relationships, business or career depending on which divide you fall into. You may be wondering how to Jumpstart your Newyear in the area of your business so as to ensure that you have an early start for the first quarter of the year.

Today will be that day you will be wondering how you have fared throughout the year if you had plans for the year you may want to pull out your plans and compare notes to see what you achieved.

While for some, this is an exercise that will bring exciting news as they see that they have achieved all that they have set out to achieve.  For some, it may be sad because they could not achieve all they set their mind to, whichever divide you fall into, thank God that you are alive to make new plans and dream again.

Today you can take a look at those areas and begin to work and strategize to see how to take a different approach to achieve success where you failed before. In doing this I would like to share with you

4 strategies to be mindful of as you Jumpstart the New year as a Home business owner.

1 Planning ,Strategy & execution:

You may have started the outgoing year without planning or strategy talk more about execution. If this was how you ran the outgoing year, then do not repeat this same thing in the incoming year, even if you are afraid of planning, its time to whip out a Planner and begin to plan for the next year. You have to set down a laid down path to your success for the coming year if you want to Jumpstart your new year on a good note. To learn more about how to plan your week please read my post on how to kick chaos and plan your week as home business owner.

It’s a wise saying that he who fails to plan, plans to fail, Its time therefore for you to do some research on what strategies you will employ to ensure that your plan is executed. A big plan and strategy on paper without execution is useless.

A blogging binder that features
Honest Bloggers Binder by Sarah Titus

For you to execute all that you have written down, here is what you need to do

– Write down what goal you need to achieve per quarter

-Break it down into targets for the week

-Break down your targets into daily to-do lists and mark it as done once you have achieved it

– Measure and Test:  You have to measure your success and see if your strategy is working. For instance, if your quarterly goal is to reach a pageview of say 3000 per month, then you have to write down your initial pageview before you begin your strategy.

You can then track your progress by writing down your weekly stats to see if you are making progress or not. This will help you to change strategy should what you not be seeing any results.

– Finally, if you have got the hang of it, rinse and repeat if it’s working for you.

 

2 Your Product.

Your product or service is what you are offering to the consumer in exchange for their resources, that’s how you make money.  For you to jumpstart your Newyear you have to take a good look at your product line and outline what income streams you expect to produce your income this year. In doing this, here are some pertinent questions you need to answer

-Does your product meet the consumer desires? is there a demand for your product?

-Do you think your product makes an impact on the consumer’s mind? if it does not, then its time to either repackage it to make it more attractive or throw it out completely and find something else that is of value to your consumer.

-If you are a blogger, its time you did your audience analysis, what are the characteristics of the audience you desire? and are you attracting same? if you are not, what do you need to do to attract your desired audience?

Everyone will be willing to pay good money for what they consider valuable to them, so in checking the characteristics of your product, here are key points  you should consider


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– Is it valuable- Does your target market consider your products valuable enough to pay your money for it.

-Is there a demand for your product-

-Does is it solve a particular problem for the consumers

– Is it Unique, perhaps not in content but in approach to the consumer’s needs

-Does it have a mass appeal at least to your target market

-Is it simple to use, that is you can easily explain how it works without any issues

If your product or service answers all of this questions then you are good to go. If it does not, then you have to go back to  the drawing board to either craft out a new product or re-design what you already have to answer the following questions

3 Your Finances

In this Newyear, as a business owner, you will have to take a good look at your finances both in the business and home.Perhaps its time you set goals for the amount of money you want to make per month. Do you know that setting goals often forces your subconscious mind to begin to think of ways of meeting it?

If you set a specific financial goal for your business, then you will force yourself to do everything possible to meet your goals because you know that in meeting it, you will attain a level of success that will give you the kick you need to go higher.

If it is your personal goals that you need to deal with, then go ahead and set them but remember that there has to be a pipeline that feeds it. For example, if your personal goal is to be able to save a certain amount by the end of the quarter, then you have to look for what will feed in that pipelines in other to meet that goal. It may be through budgeting, cost cutting or increasing your ability to earn more.

Your ability to successfully set a financial goal for your home business will give you a boost that will enable you to feel better as you go on to meet your life’s needs. If you are able to meet most of your financial needs as they arise, you often feel successful because that’s what it is. Your business or career is that pipeline that enables you to achieve the life goals you have set for yourself by giving you the needed finances to meet it.

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4 Your Marketing

In the online business world, especially if you are a home business owner you can’t do without marketing, in fact, marketing is the lifeblood of any business. So for your business, you must have a marketing plan in place. You have to be deliberate in following through with your plans if you want to see tangible results and jumpstart your Newyear.

In your planning stage, you have already itemized what worked and what didn’t work for you this year in your business, so the next stage is to take what worked and plan how to make it work the more this year in other to yield better results. You can also put new marketing plans in place in other to see if this will make your business better.

If you have no idea how to prepare your marketing plan then its time you did a little bit of research, search for marketing plans that have to do with your niche.  For example, If you want to start a blog or perhaps you are already blogging but you are not seeing results, its time to check out what your competitor who is doing better is doing so you can know what to adapt and tweak to fit your own audience.

To wrap this up, I do want you to know that running a home business is no mean feat but you have to be willing to put all you have into it to make it a success, as I champion you on via my blog.

Thank you for reading my blog all through this year, I wish you a very successful Business year ahead. God bless you and see you next year.

Do you want to get more of this type of articles, sign up for our Newsletter here.

Drop a comment below if you have other strategies I have not thought of below.

4 strategies to Jumpstart your newyear as a smallbusiness owner

5 tips on how to kick chaos and organize your week as a home business owner

learn 5 important tips that will help you organize your week as a Home business owner.a
How to Kick Out Chaos and organize your week as a Home business owner

So you started that Home business and now what? all hell is about to break loose, how are you supposed to take care of your kids, do your family duties, be nice and look good for your hubby while still running a home business or perhaps working from home.

You probably lack organization skills and you have never thought about how to organize your week talk more of having to organize your home office to fit into your daily home activities.

You are beginning to think you just got into deep water without knowing how you got there, the baby is crying and hanging onto you for dear life, he wants to breastfeed, Moooom I am hungry, or  I want to fix my broken toy and  then the proverbial we have to do my homework ( I am actually thinking no child loves to say that, but  some do, my son likes his homework time even though I suspect its because he gets to correct my pronunciation or tell me why the workbook is wrong lol)

Whichever condition your life is in right now, there is a way out.Don’t lose it just yet or give up and go back to your before business life, there is what to do and I will show you what to do, the how and what to use. Follow me, I will start by laying out a month’s plan which you can then break down into weeks then into days.

To organize your week as a home business owner, here is what you have to do.

1 Define your priorities

In one new month, there is only so much that you can achieve, especially if you just started a new home business and you are trying hard to build it. Running all over the place and splitting hairs everywhere will not move you forward, you have to decide what is your priority for that month as a business and then face it, tackle it and get it done. For you to do this, you will need to focus on knowing what you need for now.

Since you work at home, you may know have noticed that you are consistently moving from your work to your home activities so you can’t just prioritize your business activities without including your home activities it will not work.

To start off, you will need to answer an important question yourself, and that is what is the one thing that you want to achieve this month as a family and as a business?

Write it down on a Post-it note and stick it on your table in front of you and your planning has just begun. You can name it your Big hairy audacious goal (BHAG) like Jim Collins in the book  Built to last

2 Set your Goals

I already mentioned setting up your goals in the above tip, that is your overarching goals for the month, I don’t want to even use the word year here because it may send some people running for cover, so lets stick to planning for one month and then  one week and perhaps you can replicate it each week and then a month and finally make up your year.

I know this looks like its in the reverse order, but I am writing from the perspective of one who may not be a planning addict but realizes that you need it now that you have a business. One day or one week at a time helps, that way you ease in nice and good without feeling overwhelmed.

Now set your business goal for the month and also your family goal for the month.For example:

-Family Goal

– I will study a chapter of the Bible with my family and ensure we internalize the teachings by writing out what we learned and what needs to be implemented.

Business Goal

– Focus on growing my Instagram following this month.

Whatever you need to do, you just write it down and then you move on to the next stage.

 

3 Break down your Goals into Tasks that need to be accomplished

At this stage you are feeding the pipeline of achieving a more organized family and business, so you get to break down your goals into tasks that are doable within the time slots you will apportion to them.For example

Family Goal Task

-Read verse 1- 3 on Monday

-Read verse 4-5 on Tuesday etc

-You now choose the time slot in which you will start and complete the Bible study for that week.

-Business Goal Tasks

-Research Instagram hashtags to use

-Create content for your Instagram followers

-Search for competitors or collaborators that you will follow

-Join Instagram pods to help improve engagement and following.

Each task must be completed within the time slots assigned, of course, you have to make room for interruptions or disruptions that may make it difficult for you to finish your tasks.

Amongst the tasks you will list are those that will be recurring every week, for example, your kid’s swimming lessons will hold every Tuesday.

For example, my first son takes swimming lessons every Tuesday so I make sure that his swimming gear is in a place where I can easily pick it up and bag it on our way out in the morning.

If you are a mom whose kids are not of school age yet, you can outline activities that you will get them to do at specific times and thus create a routine.

Tips for planning to organize your week

To help you get started here are examples of the list of activities you are likely to plan for in your family.

List of your Family activity

-Childcare

-Meal planning & Prepping

-Cleaning

-School work

-Family time

-Hubby time

-Personal time

-Healthcare for family

-Home maintenance

List of weekly activities for my business:

This is what my list looks like, you can write yours down depending on what you do as a business from home.

-Content planning & creation

-Social Media promotion, marketing, and engagement

-New opportunities research/ product development

-Client meetings/ email response

-Business side overview

After you have done all this, move on to the next step

 

4 Assign activities to time slots for each day and schedule 

Now that you have listed all your activities, you will now have to separate your activities into recurring activities and non-recurring ones

Recurring activities are the ones you do daily, while none recurring activities may be done once a month. For example, house maintenance may be done once a month, or for your business, you may choose to plan all your content ideas for a month so that you can use the weeks for research and creation.

Another non-recurring business activity may be to use a scheduling app like Tailwind to schedule all your posts for pinning to your Pinterest board for the month, that way you cut down your social media marketing time by half and then focus more of your energy on content creation.

If you have not heard of Tailwind before it’s a scheduling tool that helps you automatically schedule your Pins to your chosen Pinterest boards at times that you choose.

Its a very useful tool that has helped me tremendously to cut down time used in pinning to boards manually, whats more it also has a feature called tribes where you can add your content to increase the exposure of your Pins. I have a tribe on tailwind so if you had like to join my tribe, click here

If you want to sign up for a trial of Tailwind, click here, its free for your first 100 pins during your trial period. If you eventually sign up, your first month is free of charge.

Depending on what kind of business that you are running from home, your schedules may differ but what matters is that you are planning your way to be more effective and productive in your business hence you are able to succeed.

Using our initial example, the recurring activity for both family and business can be

-Read verse 1-3 etc every day from 5pm-6pm

-Share content on my Instagram account and engage with my followers from 12 noon- 12.30pm.

Nonrecurring activities example could be

-Write down what was learned at the end of the chapter reading and what we will practice as a family going forward based on what we learned.- Friday

-Schedule all the Content I will use this month on Sunday

The next step will be

-Put the nonrecurring activities first on your calendar, before you enter your recurring activities. This is because your non-recurring activities may often take chunks of time so you want to get that off your table first before you add the recurring activities which you can maneuver around should you lack for time.

-You can use some scheduling tools that I will later mention in this post to help you create your to-do lists for the day, that way you wake up knowing what you intend to achieve for the day.

-Color code your different activities, for example, you can use different colors to indicate which one is a home activity and which one is a business activity this helps you to avoid mix-ups. For example, All home activities are in green, while business activities are yellow.

5 Assign Time Blocks for Activities

The next thing to do is to assign time blocks for your activities, for example, you can assign time blocks that are for when you get to spend time with your kids or time blocks that are for writing or product development.

This time blocks are then broken down into different time slots for different activities. Using our initial example.

-Time for bible study – 5pm – 6 pm

-Preparation and setting- 10 mins

-Word reading – 10 mins

-Discussion -20 mins

-Questions and Answers- 10 mins

-Wrap up- 10 mins

Tools you may need to organize your week as a Home business owner.

Planners and Binders :

This may include Blogging binders, Home cleaning binder, Medical binders and Blog planners.

One of the best materials I have seen when it comes to planning for your blog is the  Honest Bloggers Binder Bundle by Sarah Titus, it is made up of one Blogging binder 4 hot selling ebooks on vital questions a Blogger may want to know, she also has a variety of other vital planners that will help you organize your week more effectively.

A blogging binder that features
Honest Blogging Binder by Sarah Titus

 

The good thing about getting these binders now is that you get a free Christmas binder for if you sign up to her mailing list and while there you also get 60% off the Honest Blogger Binder. I am not sure how long this will last but you will be getting a good deal if you snag it now.

Binders and Planners by Sarah titus
Binders and Planners By Sarah Titus

You can get them here

Other tools which are digital in nature are

Cozi.com

Color note notepad

Evernote

24me

Any.do

Calendar 5

Google calendar

Finally ensure that you involve your family in planning out your monthly activities to avoid constant disruptions, one of the apps above, Cozi Family organizer to be specific has the ability to collaborate with family members in such a way that is so useful.

For instance, if you are going for grocery shopping and your Hubby will like you to get something that’s not in the list, he can add it to your schedule for that day and you are notified of this new addition.

There are many ways you can stay organized to ensure that you achieve your dreams as home business owner.

If you are not used to planning and organizing, you will find this piece a bit overwhelming, the most important thing is to start off and stick to your routine, don’t forget to be flexible as nothing is rigid, sometimes you may have to move things around to see what works.

A word for anyone that has a baby that is still young in age perhaps some few months, know that his or her nap time is the best time you have to do uninterrupted work.

Starting the sleep training of your baby on time may be the key that unlocks your productivity.

One of the best times I get to work uninterrupted is at night, because all my kids are in bed by then, I can then do my writing because I love to concentrate while writing, I hate interruptions as it often disrupts my flow.

For you It may be early mornings, whatever time it is, ensure its something you are comfortable with, there will be no need setting up schedules that you keep missing and ends up increasing your stress levels.

Now over to you, what ways can you organize your week as a home business owner? Drop your comments below

 

 

 

 

 

Pro’s and Con’s of Choosing a Home Business versus a Work from Home Job

Pro's and Con's of a home business versus a work from home job
Home Business versus work from home Job?

When you make up your mind that you want to work from home, the first question that will usually pop into your mind is how do I go about this?, should I start looking for work from home job? or should I start a home business?.

The jury is still out there as to what is the best route to take, for some people it is a difficult decision to make especially if you are coming from a place where you were working outside your home and had a stable income which you brought into your home. What this means is that you already have a lifestyle which you have set up your home and of course choosing to work from home means that you are putting that lifestyle into a jeopardy because you will move from a place of stable income to unstable income or perhaps just one income from your hubby.

In today’s post, I will be comparing the Home business and the work from home Job, the Pro’s and Con’s perhaps this may help some of you who may be ambulating on what route to take.

First of all, before you decide to make the decision of working from home, you must make some certain preparations, I do know some people tend to jump in with both feet to either swim or sink. Sometimes it works and sometimes it doesn’t this is because needs are different and makeups are different.

There will be those who will take the option of choosing to work from home without taking time to plan things out perhaps because they fear that If they take the time to plan things out, they may procrastinate and never make that decision.

While some like to plan their approach, they save up some money to cushion the times they will be taking to build their business from home before resigning from their jobs.
I will prefer that you plan your route before ever you make that decision to quit your job and start working from home, this may mean cutting down on some niceties in other  to save up your money to help cushion your family needs while you build your business or find work from home jobs that will replace your initial income.

This planning ahead of time will help you stay true to what you are working on and prevent you from running into financial stress which may force you to return to your former job.
It is also much easier to run your business or work from home when you don’t have to worry about finances at least for the beginning stage until things kick off.
If you are already a stay at home mom, it makes your decision easier because you may not need to do extra planning since you are already used to living on one income anyway. You may have to perhaps save up some income or initial capital outlay that you will need to start your business though.

Having highlighted the thoughts above here are the pros and cons of starting a Home Business versus a Work from home Job in other to earn your income from home.

Pro’s of a work at Home Job
-You can apply the skills you already have on a job that is immediately available and begin to earn almost immediately once you are able to secure a job. ( often times to shorten this time lapse of looking for a  work from home job, its best to start looking and secure one before you resign your day job)

-You do not have to have an initial cash outlay hence you can start on virtually zero cash except for perhaps money spent on registering on Job sites that specialize in hiring for remote positions.

-You do not need to draw up a business plan or a strategic marketing plan for your work at  home job since you will be trading your skills for money.

-Other people set your targets and there are specific tasks which you are set to deliver and your work is finished for the day. Your work is not continuous till when you are tired as in a Home business

-You get some benefits such as Health insurance if it applies to your job.

-You can choose to take a  holiday if your work is a freelance job meaning you choose when you work and when you don’t.

-Your remuneration is fixed and you know exactly how much you will earn at the end of the month.

Con’s of Work from home jobs
-There are a lot of scam work at home Job sites out there, therefore it takes a lot of time to sift out the genuine ones, this often takes time. To learn about the genuine ones read my post on 10 best sites for work from home jobs.

-There is a limit to how much you can earn per month since you trade time for money, you will have to work for a certain amount of hours before you can earn your desired amount.

-Your income is entirely dependent on the company you work for, meaning that should there be a shift in purpose and you don’t fit in you will lose your job and income.

-Because it takes time to find what works in the work at home job market, you may find your self-waiting for a while without any income at all. What this means is that you situational change is out of your control.

-For the same skills which you may have been paid more when you had to clock into the office, you may be paid less and if you are in a dire position you may find that you are working more for less pay.

Pros of starting a  Home Based Business
-You are your own boss so you can control how much you earn from your business, hence there is no limit to how much you can earn.

-You do not have to clock in with any supervisor so you can set your own time and work at your own pace

-There is no cap on how much you can earn since you can scale your business as it grows and expands.

-You can apply the skills you already have to your new business especially if your home business ties into what was your career before you quit your job to work from home, hence shorten your learning curve in running your business. Time to profit will also be shortened.

-There is freedom of doing whatsoever helps your business to excel without having to check in with a company to see if it fits into their organizational goals.

-You don’t have to look for a job or depend on someone hiring you for you to create your own income, you already have a job so you get on with it.

-You are in control of your own destiny.

Cons of  Starting a Home-based business
-You may need some initial capital to start your business, and because business takes time to grow, it may mean that you will run for a time without any income coming in at all.

-You may not begin to earn immediately you begin to work unlike the work at home job option that you get paid once you start working.

-There is no fixed task that says your job has ended for the day you may find that you are continuously working until you get tired. You are sort of the business and the business is you, this means that you have to be super self-motivated to keep at it until it begins to yield a return.

-If your business should fail, you may have to return to a day job because you will probably need money to foot your bills.

-A home business takes a lot of planning and a strategic input coupled with a lot of marketing before it can take off and sometimes this may take longer than you expected.

-Sometimes you will have to invest resources, money, time and energy to learn how to run your business properly in other for you to see a difference and begin to make a profit.

Advantages and disadvantages of choosing a work from home job versus a starting a Home Business
Pro’s and Con’s of home business versus work from home Job

Having laid out the pros and cons associated with choosing either route when deciding to work from home, I have to say that the good thing about these options is that they can be combined, there is no hard and fast rule that says you must stick to one.

Some people in other to meet up with their financial needs may choose to take a part-time work from home jobs while they slowly build their business to replace their former income.
For some, especially if you are a stay at home mom, you may choose to build your home business slowly while still maintaining the lifestyle you had before until you begin to see profit in your business
For whatever route you choose to take or the combination thereof, what matters is doing what makes it easy to pursue and attain your dreams of being a stay at home mom who is doing what she loves and at the same time taking care of your loved ones.

Do you have any other Pros and cons of starting a Home Based Business versus a work from home Job? drop your comment below