{"id":2274,"date":"2020-03-04T11:03:27","date_gmt":"2020-03-04T05:33:27","guid":{"rendered":"https:\/\/razorpay.com\/learn\/?p=2274"},"modified":"2025-05-05T13:24:41","modified_gmt":"2025-05-05T07:54:41","slug":"running-a-home-based-business-scale-up-with-these-3-steps","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/running-a-home-based-business-scale-up-with-these-3-steps\/","title":{"rendered":"Running a Home-based Business? Scale Up with These 3 Steps!"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Running a home-based business in a world where the internet is very affordable and social media is free means fighting competition. Many small-scale businesses leverage this availability of resources and look to tweak things in their favour. Ultimately, like every other business, your home business also needs to scale up. Of course, this is easier said than done.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Scaling up requires some major changes within the setup, and taking the first step is always difficult. If you are selling products on Facebook marketplace, Instagram, or other portals, then you need fundamental overhauls to the extent of making pathbreaking decisions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To begin with, here are the three big leaps you can take to scale the home-based business.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d586fd69bb0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d586fd69bb0\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/learn\/running-a-home-based-business-scale-up-with-these-3-steps\/#1-Get-registered-and-stay-compliant\" >1. Get registered and stay compliant<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/learn\/running-a-home-based-business-scale-up-with-these-3-steps\/#2-Take-it-online\" >2. Take it online<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/learn\/running-a-home-based-business-scale-up-with-these-3-steps\/#3-Determine-profitability\" >3. Determine profitability\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/learn\/running-a-home-based-business-scale-up-with-these-3-steps\/#Bottom-Line\" >Bottom Line<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1-Get-registered-and-stay-compliant\"><\/span><span style=\"font-weight: 400;\">1. Get registered and stay compliant<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Most home-based businesses yearn to be successful but often fail to take the first step properly. The problem with this nature of business is that you often find yourself working in a silo and think your small business will remain so till eternity. But, that\u2019s not the way to grow.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The first step towards growing is by accepting that your business needs a legal identity. No matter how small or big, registering your business entity has legal and mental benefits. You start thinking big the moment you start to bill on behalf of your business.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a lot of options, to begin with:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; If you see\u00a0 true growth potential like running a franchise model, expanding to multiple cities, or even turning your business into a big venture, then go with <\/span><a href=\"https:\/\/razorpay.com\/rize\/company-registration\/private-limited\"><span style=\"font-weight: 400;\">private limited company<\/span><span style=\"font-weight: 400;\"> registration<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; When there are two or more partners as business owners, then you can choose from either <a href=\"https:\/\/razorpay.com\/rize\/company-registration\/partnership-firm\">partnership business registration<\/a> with a deed or <\/span><a href=\"https:\/\/razorpay.com\/learn\/all-you-need-to-know-about-limited-liability-proprietorship\/\"><span style=\"font-weight: 400;\">Limited Liability Partnership<\/span><\/a><span style=\"font-weight: 400;\">. LLP is preferable when the partners want to limit the liability and save themselves from running a personal risk<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; It is important to know the <\/span><a href=\"https:\/\/www.legalwiz.in\/blog\/private-limited-company-or-partnership-firm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">difference between a private limited company and a partnership firm<\/span><\/a><span style=\"font-weight: 400;\"> that goes beyond just the company name<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Solopreneurs can choose from business structures like One Person Company and <\/span><a href=\"https:\/\/razorpay.com\/learn\/what-is-sole-proprietorship-advantage\/\"><span style=\"font-weight: 400;\">Sole Proprietorship<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, your business structure will also push you to act like a business owner. Start managing your business like a brand by staying up-do-date with compliances like paying taxes, filing returns on behalf of your business and creating a reputation in the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can also take a step ahead with <\/span><a href=\"https:\/\/razorpay.com\/learn\/what-is-buyer-persona\/\"><span style=\"font-weight: 400;\">trademark registration<\/span><\/a><span style=\"font-weight: 400;\"> and start using TM mark in front of your business name. Such a symbol by itself denotes your growth-orientation to potential customers who will put their faith in you.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"2-Take-it-online\"><\/span><span style=\"font-weight: 400;\">2. Take it online<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The best way to grow is to reach out to as many people as you can. Some people argue that home-based businesses might not require a website since its target market is limited to a particular city or a town. On the contrary, perhaps for this very reason, your business deserves a website. Creating a website is just not about spreading the reach, it is also about;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Extending yourself to reach customers<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Communicate better with prospective buyers<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Sell and accept money online after <\/span><a href=\"https:\/\/razorpay.com\/learn\/preferred-payment-gateways-around-the-world\/\"><span style=\"font-weight: 400;\">choosing a secured payment gateway<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Leverage low-cost local paid ads on social media to reach the target group<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For the last point mentioned above, you need to create a <\/span><a href=\"https:\/\/razorpay.com\/learn\/what-is-buyer-persona\/\"><span style=\"font-weight: 400;\">buyer persona<\/span><\/a><span style=\"font-weight: 400;\"> and accordingly create the content. Since your competition is relatively low on the web, you have unmatched leverage.\u00a0<\/span><span style=\"font-weight: 400;\">Here\u2019s <a href=\"https:\/\/razorpay.com\/learn\/create-website-free-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">How To Build A Free Website For Your Business.<\/a><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"3-Determine-profitability\"><\/span><span style=\"font-weight: 400;\">3. Determine profitability\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Scaling up a home-based business means evaluating each step before taking it. And one of the most basic steps is to determine the profitability of the business as you venture out on a growth-based journey.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You may have great talent and enough skills to demonstrate it. But what if people are not willing to pay for it? You will have to ask tough questions that help you gauge your way up. Sure, you are looking for growth, but how much progress has your business done since it started? Know if you can maximize the profit with the same or a little less revenue growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For instance, let\u2019s say you make cupcakes for Rs.35 and sell them at Rs.50. And if you are selling 100 such cupcakes on an average every day, it means, you are making Rs.1,500 a day for yourself. Now, making Rs 2,500 a day is something that looks like an achievable goal, but you will have to dwell on the \u201chow\u201d part.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It leaves you with these two crucial questions<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">&#8211; \u201cAre people willing to pay my asking price for the offered product or service?\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">And<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">&#8211; \u201cCan I beef-up my profit by cutting the cost of making strategic changes in the offerings that facilitates business growth?\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Understand that many businesses have a hard time going beyond the breakeven point. And if you have already seen the brighter side, congratulations!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You are on the growth trajectory already and now, the journey gets tougher than before. Because now, you not only have to care for growth but be cautious of not losing momentum (making losses) as well.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Set minimum income requirements and strive for efficiency \u2013 be it marketing, creating the product\/services and CX. Brew ideas that enable growth chances and work on them with perseverance. There isn\u2019t any other modern way yet, unfortunately.<\/span><\/p>\n<p><em><strong>Related Read: <a href=\"https:\/\/razorpay.com\/learn\/side-business-ideas\/\">Profitable Side Business Ideas You Can Start Today<\/a><\/strong><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bottom-Line\"><\/span><span style=\"font-weight: 400;\">Bottom Line<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Taking these three bold steps one after the other will offer the much-needed boost to your business. Make sure you plan each of these leaps diligently so you can achieve your objectives and it does not turn counterproductive. As with life, anything in business that involves a higher amount of risk will reap you great rewards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, keep working on improving yourself and gather experience that helps to make decisions for growth. Being a home-based business owner, staying motivated is also crucial, especially in terms of discipline and consistency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Do you have any home-based business stories to share or queries? Why not share your thoughts in the comments section below?<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many small-scale businesses leverage this availability of resources looking to tweak things in their favour. If you are selling products on Facebook marketplace, Instagram, or other portals, then you need fundamental overhauls to the extent of making pathbreaking decisions.<\/p>\n","protected":false},"author":151156466,"featured_media":2285,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3433],"tags":[2681,2747,3365],"class_list":{"0":"post-2274","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-freelancers-unregistered-businesses","8":"tag-business-strategy","9":"tag-business-tips","10":"tag-freelancer"},"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/2274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156466"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=2274"}],"version-history":[{"count":6,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/2274\/revisions"}],"predecessor-version":[{"id":17243,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/2274\/revisions\/17243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/2285"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=2274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/categories?post=2274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/tags?post=2274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}