Tips and Tricks for Starting a Home-Based Business
If you want to create something unique, be your own boss, and make your schedule, owning a business might be right for you! That being said, starting a business from scratch can be a complex and frustrating journey. Where do you even start? If you want to get your business off the ground while minimizing stress, keep reading.
It’s no secret that starting a new business is highly time-consuming. In order to make the most out of your time, it is important to set yourself up for maximum productivity. Creating a home office space is one of the most high-impact steps you can take to maximize productivity. A dedicated workspace ensures all your work materials stay organized and accessible. While you might be hesitant to invest in expensive supplies, doing so can keep you and your business on track. A comfortable chair, large desk, and high-quality computer will make you want to get to work — and stay at work. Your at-home office should be a sanctuary devoid of loud noise, clutter, and chaos. If possible, try to choose a space that receives adequate natural lighting. Natural light is key to staying alert and productive.
If you are in the early stages of creating your business, it’s important to understand your options. If you want to sell products, will you do it in person, online, or a combination? If you are starting a freelance proprietorship or consulting company, how will you get your work noticed? Next, you will need to identify market demand, determine your competitors (if any), and calculate your financial costs.
In order to keep track of your findings, consider creating a formal business plan. While creating a business plan from scratch can seem overwhelming, there are numerous online templates to help guide you. Keeping all strategic information in one place can ensure you (and possibly your team) are reaching business goals. If you want to take your business plan to the next level, consider adding a section to help guide client acquisition.
Acquiring Your First Customers/Clients
Obtaining a list of potential customers/clients can seem somewhat elusive, especially if you are starting a business outside your regular industry. Start by developing a list of potential clients/customers based on your social and professional network. Reach out to these individuals and organizations with a clear, concise summary of what you can do for them. If your network is not directly tied to your industry, consider asking friends/family to refer you to anyone who might be interested in your product/service. Lastly, look for opportunities in your area to connect with potential leads. Are there any applicable networking events? Can you showcase a product at a tradeshow? Is there anyone you can cold call for a pitch? Remember, generating customer/client leads starts by building relationships.
When it comes to converting a lead to a customer/client, make sure you have a spectacular online presence. For individuals entering the freelance or consulting industry, you’ll need a top-notch online portfolio to showcase your work. If you are selling physical products, a great ecommerce website can be invaluable. You might also want to promote a free trial, service, or product for first-time customers. Once the person is hooked, it’s time to start charging. If you are not particularly well-versed in creating an online presence, consider reaching out to a freelancer or consultant for guidance.
Starting a home-based business doesn’t have to be stressful. By taking the time to plan your business, acquire customers/clients, and create a workspace, you will be well on your way to success. Best of luck on your journey toward professional independence!
Guest Blog by : Lucy Reed