There are many things to take into consideration when it comes to growing your home business. As you may remember from your first lesson if you make and follow a sound plan, you can be the owner of a successful and profitable business.
The first tip I have to share with you is to have a good plan. It’s important to have a clearly laid out business plan. As we touched on in your first lesson without a business plan and goals to achieve, then chances are you’ll never get anywhere. A business plan, even if it’s just written down on a slip of paper will help you map out what you need to succeed and how you’ll achieve your goals.
Whatever your business will need, you’ll need to be well informed about it. So you’ll need to do me research so that you become an expert on the niche, product or service. Knowledge about the business is an important home business resource, so you must do the necessary research to be well informed about the industry or product/service.
– Office space
As we discussed in your last issue you will need to set up a dedicated base for your home office. Your office is a very important because it helps separate file from business which increases productivity. In your office, generally you’ll need a computer, printer, internet access, fax, telephone, business cards and a conducive work environment.
Keep in mind that sometimes you’ll be working long hours, especially in the beginning, so your work space needs to be comfortable. A suitable desk, comfortable chair and appropriate lighting are very important and often taken for granted. Allocate some money towards setting up a working environment conducive to productivity and you’ll enjoy your time in the office much more!
Money to cover capital outlay and running costs is an important even if you’re starting out on a shoestring budget it would require some form of investment, and you’ll need to know how much you have, and how much investments and ongoing marketing your business will need to stay afloat until it begins to generate a solid income.
Business leads and clients are a crucial home business resource. Making and creating contacts and networking is very important, because no customers equals no income. You need to start building your potential client base before you launch your business. Start marketing your business by giving away some products and services. By creating a relationship with your potential customers, you build trust with them, and when you launch your business, it will be easy for them to buy from you.
– Be professional
The way you run your business and relate to your customers is very important. Be prepared to ‘go the extra mile’ with your customers. Care about your customers, and provide all the information they may need.
– Get help
Hire any professional help you may need. Treat your business professionally, and if you need the services of a lawyer or accountant, hire one. It’s more productive and effective to hire skilled professionals to do what you don’t have the time or skills to do it yourself. If you want your business to be successful, it’s important not to overload yourself with time consuming tasks or projects that can be easily outsourced. It’s also more cost effective in the end, because it leaves you free to focus on growing your business.