This video discusses the advantages of having a remote business and how adapting to this new reality can give founders more control over their future. Remote work is presented as a modern approach to business, contrasting with traditional physical spaces.
What this video covers
Here’s the thing. Now is the time – it’s the time in history when more than ever, you need to take control over your future, over your destiny, and that’s why having a physical space perhaps is more the old school, is more the traditional way, it’s more of a luxury maybe, but things have changed quite a bit, and now it’s all about adjusting to the new reality. And the new reality is about being able to work from absolutely anywhere. In today’s video, we’re going to be breaking it down for you and giving you enough insights to understand how to go about it. So with that being said, let’s get into it.
Why start a remote business? Ultimately, there are many, many different reasons, but you’ve seen some of those benefits. Some of the brick and mortar business actually went remote. Since 2004, they’ve been super successful at it, and nowadays, especially with the pandemic that COVID created, in other areas that are triggering this and accelerating, being able to work from your own home is becoming a necessity.
Then, you want to incorporate and set up your business. You want to understand if you want to incorporate as a Limited Liability Company, if it’s maybe like a C Corp., if it’s an LLC, Limited Liability Company, maybe it’s because it’s going to be more of a lifestyle, more of a small operation, perhaps you’re not going to have to go out and raise money – if it’s a C Corp, essentially it’s what most hypergrowth companies startups choose to go with because essentially, they’re going to need to raise money from outside investors.
Also, you’re going to want your tax ID. Those are all going to be things in which you want to have a corporate lawyer that walks you through it so that you have the right type of package, the right type of structure, and the things are ultimately organized.
The business idea. When it comes to the idea itself, develop a business plan. Do some research. Try to understand how big the market is. Is the market big enough to really justify all the sweat and the tears that you’re going to be putting into this? Always, it’s better to have an average team executing in a super big market than, let’s say, an amazing team in a small market because that is going to really limit your growth. It’s going to also limit the returns of those investors that are going to be investing in you.
Communication. When you’re doing remote work, it is critical that you have the communication super, super, nailed down to a T. What this means is you need to have the proper set of tools to do the communication on video, for example, or calls. Maybe you’re using Zoom; you’re using Google Hangouts; you’re using Skype. Whatever you guys or gals prefer, but essentially, it’s something that creates that efficiency and where you’re able to streamline the communication.
Maybe you’re using tools like Slack, Trello, Asana, or Monday to understand where things are and keep that flow of communication going with whatever projects and initiatives that you’re dealing with. Then, also, perhaps for the storage, you’re going to need to have somewhere in the cloud all the information that the employees can access. That could be Google Drive that you share with the team, or Dropbox, whatever it is, but you need to have a place where people can go and retrieve whatever piece of information that they need in order to be effective.
Hiring. Here, the world is your oyster at the end of the day. Now, it’s not like you’re narrowing it to a specific location. It’s just a certain amount of people that can be part of this. Now, you can hire from anywhere in the world because you’re creating a remote business. Again, you’re going to be going for skillsets, for people that maybe align with your vision, with your mission, with what you’re trying to accomplish.
Again, when you’re making phone calls to people that have worked in the past with that individual, it’s going to be very hard for them to lie to you, and this is going to be a very good opportunity to have two, three, or four calls, or whatever that is.
Then, the other thing that you can do is use tools like Upwork.
