So, to start a successful home-based business, what resources and steps do you need to take?
- A good plan
This is a step most network marketers miss – have a clearly laid out business plan. Without a business plan and goals to achieve, then you can not 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.
- Research
Whatever your home-based business will need, you’ll need to be well informed about it. So you’ll need to do some research so that you become an expert on the niche, product or service. Knowledge about the business is an important resource for home-based business owners, so you must do the necessary research to be well-informed about the industry or product/service.
- Office space
As we discussed in the previous post you will need to set up a dedicated base for your home office. Your office is a very important because it helps separate life 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 that will promote productivity and you’ll enjoy your time in the office much more!
- Capital
Money to cover capital outlay and running costs is 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.
- Support system
Your support system can be a coach, mentor, someone with a similar business, or simply your family and friends. You need to have people close to you who will encourage you and give you any support you need. You can also join your local Chamber of Commerce, online communities and forums of people in the same industry as your own. A good support network is a very important home-based business resource.
- Customers
Business leads and clients are a crucial home-based 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.
What's Your Home-Based Business Plan?
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