Make Working from Home Great in 2008
Happy 2008, everyone! As we start a new year, let’s be thankful for all the opportunities that lie ahead for all of us. Telecommuting or home-based businesses, heralded as the “new work freedom” will continue to spread its wings throughout the nation. Is it your year to start a home-based business? Whether you dream of or have already started your home-based business, there are many tips pertinent to your success:
1.) Market research is important. A lot of businesses fail due to the fact that there is not an adequate market for the product or services they are trying to sell. Therefore, performing a comprehensive analysis of the business is a must for home businesses.
2.) Independence and self-reliance is crucial. In order to work for yourself, you must be self-disciplined and have a “go get ‘em” kind of attitude. If you are truly a passive type, it may be best to work for someone else outside of the home. Most home-based businesses start out as a one-man or woman operation. In this case, expect to do everything - from writing your business plan, manufacturing your product, marketing, and selling - before you can afford to hire an employee. Remember, no customers means no business!
3.) Manage your time well. A sure advantage of working at home is indeed that you get to manage your own time/schedule. Sounds great, right? It is, but make sure that you know how to effectively do it. There is no one at your home to supervise you or help your organize and prioritize. In addition, working from home puts you in a situation where you are EASILY prone to distraction. The kids, the dog, the house phone, you catch my drift.
4.) Maintain your existing base of clients. It can cost twice as much for you to get new customers than to simply maintain your existing base. To do this, you must keep customers happy. Repeat sales from these customers mean lower per-unit marketing costs AND higher profits. Always a good thing, right?
5.) Can’t say this enough - promote, promote, promote! Your business is ONLY as good as the size of the market that you are able to reach. Be aggressive, and get the WORD OUT about your product or service. Promoting your business is truly an essential investment for ALL businesses - small and home-based, or large and global.
6.) Watch your money carefully. While investing in a solid marketing plan is always good for businesses, spending your hard-earned money on frivolous items (did you REALLY need that $300 paper shredder or deluxe massage leather office chair?) is never a good idea. Poor financial planning, mismanagement of funds or inadequate budgeting of expenditures are common causes of business failures.
7.). Get help when you need it. Read business publications, attend networking social events, join your local Chamber of Commerce, and visit DailyTelecommuter.com often - these are all resources that will assist you in becoming the best you can be in the work from home business industry.
It’s a new year, and as always, I am welcoming your feedback, suggestions, and questions on what will help you make the most of 2008! On Friday, tune in for some useful tips on perfecting your resume and cover letter!
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