What is The Real Cost of Launching a Home Business 55

What is The Real Cost of Launching a Home Business? - letsreachsuccess.com

The following article is a guest post.

If you are thinking about starting a home based business, knowing how much you need to invest to get it going should be high on your priority list.

There is advice out there that says you can launch a business for $100.  But is that really realistic?   We wanted to find out once and for all what the average work at home mum spends.

Why is it so important?

The small business association reports that 50% of businesses will fail in their first year.  This statistic really gets my back up.  I want us to do a better job, to empower more women to step out as business owners and succeed.

There are several reasons a young business might fail but one of the primary reasons is Cash Flow. Yes, I know for many of us the numbers are the boring and confusing part but they are the life-blood of your business, you gotta get friendly with your numbers right from the start.

We are all living in a really exciting period of time.  It has never been easier to get the financial freedom you crave for yourself and your family.  And I want that for you.  

But if you don’t have a clear picture of your costs then you are going to find it difficult to manage your business to success.

So today I can at least clear some of the mystery away for you and reveal how much the average work at home mum spends launching their business.

Recently Business Jump we did an in depth survey with 11 Work From Home mums to find out more about their business.  One of the questions which was asked was how much does it cost to launch an online business, here are the results.


Average Cost To Launch A Home Based Business

We can reveal that 80% of those we surveyed said they spent between 0-$10,000 to launch their business.

And the average work at home mum spent $5,000 launching their business.

Average Cost by Business Type

But what about the types of business.  Do the figures vary depending on if you are launching a product or a service based business?

The short answer is yes.

Launching a product based business does require more financial investment.  

Those who selected they spent $5000-$10,000 were all product based or retail businesses.

Most Costly Expense

So what was the primary expense that these businesses owners invested in?

We found that in most cases it was the website that business owners spent the most on.

One survey respondent answered:

“For me, website and it continues to be. My blog was set up with a provider who owned the CMS (Central Management System) and any customizations or changes were very costly.The best decision I made was to move my blog to WordPress so I had more control over the everyday changes I needed to make.” Sara Keli from Kid Magazine says of her website.”

So there you have it.  An estimate based on real mums with real businesses.  If budget is a block for you and you feel you don’t have the money to spend we recommend finding ways you bring down the cost of your website.    As this last survey respondent teaches us, it’s important that you are able to manage the changes to your website yourself.

Without control your costs will very quickly add up.  Even minor image or text changes can add up to a costly monthly fee.

If you want to save even more money then there are tons of courses out there which can help you to design your own basic website. Our wordpress based e-course for example will take you through a step by step process of getting your website url and launching your whole website.  We designed this course to save you thousands at the start up stage.

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Data Is Important to Your Business’s Operations: Keep It as Safe as It Is Accessible 4

The Secret to Designing Perfect Landing Pages

Computers have been able to move files between one another since the technology’s very early days. The first File Transfer Protocol (FTP) technology emerged in 1971. Back then, network administrators only needed to move data from one place to the next; security was not an issue. Furthermore, since the computers were probably in the same room, the data did not have very far to go.

Today, there are many ways to move data efficiently and safely over long distances. MOVEit by ipswitch is a good example. It’s very robust yet also very easy to use. It also has a number of audit trail and compliance features that really make it a useful program.

How do you know for sure whether Moveit or some other program is the right one for your business?

What is Secure File Transfer?

FTP still works very well when there is absolutely no need for security, but these instances are few and far between. Some of today’s most popular file transfer options are:

  • Secure File Transfer Protocol: As the name implies, SFTP is FTP plus encryption. The combination is very fast and prevents network eavesdropping. SCP (Secure Copy) is a closely related protocol.
  • Managed File Transfer: MFT is a much more complex option. In addition to file security, it adds a variety of audit, management, reliability, and other features.
  • Email Encryption: Instead of transferring the file as an attachment, a secure email sends a link. Then, the recipient can download the document from a secure site. Moreover, email encryption enables users to send very large files with little drama.
  • Hosting: Originally, file hosting services supported document collaboration and nothing else. Lately, security features have emerged as well, making network hosting a viable secure file transfer option.

All these methods rely on access control. Typically, that involves a username and password. Depending on the organization’s needs, the access control can be much tighter. Usually, this process involves an Identity and Access Management (IAM) system.

Some File Transfer Features

In its most basic form, secure file transfer relies on command line interfaces. This system is automated and not designed for user interface, so there are very few additional features. On the other hand, command line interfaces are very low-cost and allow organizations to maintain control over file security even if they use cloud providers.

SFTP is still the best option for most businesses, but SFTP by itself often falls short. Consider adding additional features like:

  • Auditing: Sometimes, auditing functions are available as an add-on. But organizations that also have compliance issues in this area, such as those that handle Personal Identifying Information (PII), may be better off with MFT.
  • Scheduling: This need is not as common but it’s still out there. Sometimes, users need to send documents at certain times of the day, usually to avoid bandwidth conflicts. Customers with scheduling needs almost always need MFT, because its systems are very robust.
  • Indirect Transfer: Only MFT allows users to send documents to an intermediary server when then forwards them to the recipients. The user and recipient are isolated from each other, and such transfers are easier to track.

Consider the options carefully before making a decision. Then, go with an established provider who stands by its products.