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You might have reached a stage in your professional life where you want to set up a fully remote business. In a fully remote business, employees work from their homes, coworking spaces, coffee shops, or from anywhere in the world. In this working environment, in-person meetings are replaced with video calls while cubicles are replaced with home offices.
If it weren’t for the COVID-19 outbreak, many business owners probably wouldn’t have considered starting remote operations. At first glance, it might seem as though fully remote businesses miss out on after-work socialization and team-building opportunities. But by simply learning what it takes to host a virtual happy hour, for instance, businesses can boost morale, bring people together, and make sure every employee feels involved.
Starting a fully remote business has proven to be an excellent way to take control of your work life and income. But before taking the plunge there are many things you need to consider. To help you along the way, in the article below we share a comprehensive guide on how to launch, grow and manage your fully remote business.
Setting up your remote business
If your business isn’t already established, there are certain things you’ll want to take care of to get it up and running:
Write a business plan
Aspiring entrepreneurs who develop business plans are more likely to build a successful business than those who don’t care to plan. A business plan outlines your business goals and how you plan on achieving them. It also gives potential investors the first impression of your company. When writing your remote business plan, make sure to include a business overview, a unique selling proposition, your vision and mission, internal structure, and financial projections.
Register your remote business
Before you register your remote business, you must first register a business address, as well as pick a name and structure. Once you decide on a name, choose a business structure to suit your needs, whether it is a sole proprietorship, partnership, limited liability company (LLC), or corporation. Talk to an attorney or accountant to see how the business structure will impact your taxes, personal liability, and funding options.
Growing your fully remote business
Once you set up your remote business, it’s time to hire your first employees since they will be the key to growing the business.
Identify roles
Before you post your first job opening, think about the roles you need to fill and choose your candidates based on your business needs and budget. You should think about the skills and qualities that you want your ideal remote candidates to have. Some of the most important qualities for remote employees may include the ability to work independently, knowing how to communicate proactively, and being a tech-savvy, reliable, organized, and self-motivated individual.
Adapt your hiring process for virtual interviews
Once you review all the applicant resumes and make the top choices for your most promising candidates, you should adapt your hiring process for video interviewing. Ask your candidates how they communicate, deal with deadlines and distractions, and stay motivated while working remotely.
Remember that even if a particular candidate doesn’t have remote work experience, they might still have transferable skills that will make them a great remote employee. Throughout your virtual interviews, take note of how efficiently and quickly candidates respond to emails and how well they communicate.
Managing your fully remote business
Remote team management comes with its own set of unique challenges. To get the best performance out of your remote employees, and boost productivity and engagement, you should think of the following tips:
Adopt remote work tools
One of the most important ways to manage your remote business is to adopt remote work tools such as video conferencing software, team communication tools, and workflow management solutions. They will keep your remote employees organized, secure and productive while working from home.
Avoid micromanaging
The freedom and independence that come along with working remotely are two of the main reasons why employees find it appealing. For this reason, focus on outcomes rather than hours worked and micromanaging.
Give and ask for feedback
Giving and asking for constructive feedback can help you manage your business better and keep employees on track. Asking them how you can support them better from a distance will help you identify any blind spots in your management style.
Final words
The process of starting, growing, and managing a fully remote business isn’t an easy feat but it doesn’t have to be complicated. Take one step at a time, and soon enough you’ll get your business off the ground and build a successful remote team to help you reach your goals.
