Thanks to incredible advancements in smart technology, the dream of being able to launch, start and run a business effectively from a remote location is no longer just a dream: it has become a reality. Running a business from home has become a way of life for millions of business owners across the globe, and the fact that is even an option is incredible.

Ten years ago, remote-based businesses were just starting to launch and those that had launched, were few and far between. The concept that in 2020 millions of businesses would be running from homes across the globe was unthinkable, and yet today, it’s an exceedingly popular choice for many entrepreneurial newbies, as well as seasoned business owners.

While working remotely from home is becoming increasingly popular each year, that doesn’t mean that every new startup knows how to work in this manner effectively. It’s admittedly a great way to reduce the cost of startup overheads and monthly running costs, but that doesn’t mean it’s a manner of working that suits everyone.

The fact is that working remotely is a method of working that takes time to adjust to, and requires you to actively understand the factors that your business needs to ensure are in place, to give you the best chance of success. The question is, of course, what does it take to successfully run a startup from home in 2020?

 

Understand that high-powered internet is vital to your success

When running any business, one of the most crucial factors is your ability to communicate. Running a business remotely means that you need to be able to communicate easily with everyone, from your suppliers and any freelancers you work with to your clients and other business prospects. The easiest way to communicate is, of course, through the internet, which is why it is essential that you have access to high speed internet.

 

If your home office isn’t able to access high-quality internet, you will struggle to build a successful business. The internet is crucial for success, not only as it allows you to communicate more easily via video conferencing calls and instant messaging, but also because it’s a key tool for digital marketing, which every business should be taking advantage of. If you are going to give your remote-based business the best chance of success, you need to make high speed internet a priority.

 

Invest in the right equipment

When it comes to your startup business costs, one place that you should not try and cut corners is on your equipment. As a remote-based business, you need to ensure that you have access to everything that you could possibly need to work effectively from home. It pays to make a list of all of the office essentials that you will need to run your business on a day-to-day basis – if you’re unsure of what you may need, take the time to do some research. A great tip is to contact business owners who work remotely and ask them for their advice of must-have office essentials. You never know, you may end up being surprised by some of the items that they find most useful.

Think about what each day will consist of; will you need to hold regular conference calls, for instance? Because, if this is the case, then you will need high-quality video conferencing equipment, including a microphone and a camera that can be used to video call clients, investors or anyone else that you will need to talk to. A word to the wise, run some checks before your first scheduled conference call. Take the time to test your microphone and camera, to ensure that each is working seamlessly. Plan a practice call with a friend or team member to check that everything is working as it should.

Invest in ‘team’ software

If you plan on building a team to help run your business – or if you have already set up a team – it is worthwhile thinking about investing in some specialist ‘team’ communication software. This is software that allows the entire team to log in to one application and within that application, you can instant message each other, schedule video calls, have video calls, plan out tasks, assign work, and track people’s workloads, among a range of other uses.

There are various applications that you can choose from, each offering a variety of unique features. If you’re thinking about investing in some of this software – and you really should if you have a team to communicate with and work alongside – then it’s worthwhile taking the time to decide which ‘team’ communication software is the best option for you, your business, and your team. Some popular options include Monday, Slack, Asana, and Trello, all of which come with free and paid plans, making them suitable for every budget.

 

Document everything

Just because you aren’t working in a traditional office, that doesn’t mean that the same business rules don’t apply to you. You need to ensure that you are keeping track of every aspect of your business, from how much you are spending on office supplies to how much time is being spent on each area of the business.

It’s vital that you document everything, and do so in a way that it is easy to monitor and manage. Remember, you may need to access your records at some point – particularly your financial records – so it’s vital that you take documenting the daily running of your business seriously, from the get-go.

There you have it, an in-depth guide to making it easier for you to achieve success from your remote-based business in 2020.