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July 28, 2020
5 resources to help you start a business from home

You won't believe how easy it is to start a business from home.

Working from home is starting to feel a little… stagnant. Wake up, sit down at the table, work, close your laptop at 5:00 pm, eat, sleep, repeat. Could there be anything more interesting to spice up your work-from-home situation for the long-term?

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The resurgence of COVID-19 has taught the world that remote work is not only possible but brings with it a whole new realm of flexibility and opportunities. For many, it has birthed a new way of thinking about and approaching this idea of work. For some, it has created a hunger to explore the realm of entrepreneurship and being their own boss. What about you?

Turn your hobby into a side-hustle. Take your career and decide that you can do it better by working for yourself (because we know you can). We know this can feel overwhelming, but with these five tips to help you start a business from home, you’ll find it easier than you think…and your comfy pants can continue to be your work pants!

1. Validate your idea with a business canvas

Are you finding that you have an idea and a business plan in your head, but need help to map it out in a way that is organized and makes sense? OR are you wondering if there’s something important that you’re missing to help convey your business idea? Using a canvas tool can help you with that — it will walk you through the necessary components of your business and challenge you to hone in on key aspects to bring your idea to life. It takes the weight of researching, looking for the right questions to ask and more off your shoulders by asking you the questions to formulate your canvas and arranging your answers in a professional and clear way.

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2. Write a professional business plan

Now, this is the part that can scare some people away! Thankfully, business plan tools can simplify your main ideas, expand on intricate details, and formulate your master plan to launch your business. They will help give you direction, make difficult decisions, and convince investors of your startup’s potential. With tools like those provided at Cuttles, it will even offer you a fill-in template with all the right subheadings and tips you need to create a powerful, customizable business plan.

3. Stay on top of your finances with a budget tool

How do you plan on convincing investors that your business is worth investing in if you don’t know what your short and long term financial goals are? It can be a scary thought, but by building a sustainable budget as well as tracking your expenses, revenue and capital, you can stay on top of your short term and long term financial goals. With a digital budget tool, you simply add your numbers and let the software create beautiful graphs that let you see how you’re really doing with your finances.

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4. Set business goals and track them with a milestone tracker

If you’ve read this far, you might be thinking about really putting pen to paper and launching this business idea. You also may have thought about the potential bumps, highs and lows along the way and, we won’t lie, it can be pretty challenging at times. That’s why we suggest project management tools that track your short term and long term goals, set priorities, and visualize your workflow. You won’t have to worry about missing an email, task, or deadline again!

5. Showcase your team and keep track of equity

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As your team grows and you start handing over equity to other founders, employees or investors, things can get messy if you’re not keeping track of it. Having a team tracker tool not only helps you manage your assets and who owns what, but it also helps showcase your founders, employers, advisors, investors and anyone who has anything to do with your company. It shows who they are, their roles, and why they’re perfect to take your startup to the next level.

In light of the changing nature of work and business, we hope you rethink what it means to be an entrepreneur and realize that, YES, you can do it from home! NOW is the time to bring that idea to life and turn your hobby into a reality. Check out our virtual memberships where we offer over $10,000 dollars in savings for programs and software to help you out like Cuttles, which provides all five of the tools in this blog. Want to speak to one of our experts-in-residence yourself to learn more and see if your idea could really become a business? Connect with us, we’d love to chat.

Frequently asked questions
What does my membership get me?

Our memberships are all-inclusive pricing which means W.I.F.I, Utilities, Janitorial service, coffee and many other amenities are included. They start at 3 months! Memberships also offer business services including business coaching, perks and discounts, access to Spark’s Member Portal, events and workshops, and much more!

How long can I have a membership for?

Unlike many other incubators, Spark is here for you in the long run. You're welcome to participate in our entrepreneurial community as long as you'd like.

How is Spark connected to Ryerson University?

We work with Ryerson University and the City of Niagara Falls on the Niagara Falls Ryerson Innovation Hub. This initiative is for tech-based startups in or looking to move to Niagara Falls, Canada to grow and scale their business.

Will Spark invest in my company?

We are happy to help provide guidance on the necessary steps towards receiving external investments. That being said, we will not invest in your business nor are we affiliated as partners in your business.

I am a part of another incubator, can I still join Spark?

Spark stands by the mission of building our future with collective impact. We accept entrepreneurs whether they are affiliated with another incubator or not. We aspire to bring together the best talent in Niagara regardless of background.

Do you have a free trial?

We offer a free 7 day trial for serious applicants only.

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