If you plan to or already operate a business from home, consider these factors to successfully develop your company.
Enjoy what you do
For a project to be successful, it is important that you like it, believe in it, and enjoy it. When a person performs a job that excites them and makes every effort to get it right, the customer perceives this clearly. This, over time, becomes steady cash flow.
Look like a pro
If you are a selling beauty products, look flawless daily. If you market or represent a health food company, it is best to have a good figure and let people see you eat your products. This earns the trust of your prospects and will keep captive to those who already bought your products. No matter what you do, you should always have a good appearance. That makes the difference between a professional and someone who is just trying their luck, especially when you run your own business.
Prepare to be the best
If you work independently, subscribe to specialised publications and newsletters. Investigate how to develop your own strategy of sales, administration, marketing, and advertising. Analyse your competition.
Design and build your space
If you live in an apartment, for example, you do not have to invest huge amounts of money. Choose a separate space to have as your own, be it an office or warehouse.
If you market your clothes or have a cosmetics case, it is best to keep that clean and tidy so that your customers feel they are dealing with a professional space. Do not forget to ask your family to respect your work area.
Take your office wherever you want
Virtual offices Services are a growing trend. Renting a smart phone with unlimited Internet will range from £30 to £80. This depends on the company that you contract with. Mini-computers or notebooks market for £500+ and are equipped with basic tools such as word processing, spreadsheets, and wireless Internet.
Customise your offer
One of the advantages of having a home business is that you have the ability to provide a service tailored to each person. Since you are delivering orders under the specified conditions, send emails announcing packages designed exclusively for each of your customers. Anything goes.
Add value to your offer
We are in an era where people value their time—a car wash in 15 minutes, 30 minutes or the pizza is free, and so on. Therefore, it is important that your current and potential customers see your products or services as the way to solve a problem and make life easier.
Sell only benefits
When you talk about your product or service, always begin with the testimony of your current customers. Market flyers, websites, blogs, newsletters, and social networking profiles to include feedback from your satisfied buyers.
Create personal ties
Make your customer feel that your concentration, effort, and creativity are on the project for which you were hired, just so you stop being a supplier to become an expert advisor.
Organise your time
One of the recurring problems of entrepreneurs operating from home is lacking a working method. Results: work late, delayed deliveries, holiday and time off at midnight. Hence the need to set working hours, as if they work for a company. You also have to design efficient processes to eliminate unnecessary steps in your daily operations.
Put a price on your work
If your product sells or lends items to catalogue services, calculate how much you invest to produce or generate your offer, then check the prices of your competitors and you’ll have an idea of the correct rate. Even if you work on your own, remember: you’re a professional, and your work has added value. When setting the price, you should consider your studies; you’ve invested in your preparation and accumulated experience to become the best.
Learn to collect
It seems obvious advice, but in practice not all know it. For starters, sell your products or offer your services among your acquaintances, friends, and family. Design collection strategies according to each profile. Set deadlines for receivables; they must be 15 to 30 days maximum. Remember that as you find new consumers, this work will be easier.
Make a self-sufficient business
A big mistake is to finance projects of your customers with your own resources. It is best to ask for a deposit—usually 50 percent of the total—and the rest in cash once the contract concludes or the goods are delivered. On the other hand, to make an inventory, the bank applies for a microcredit. Even one of your suppliers should always have enough units to meet the demand of your customers. Rule of thumb: one thing is the business money, another your money and another destined to your home.
Design multiple forms of payment
You will not have to go to the office or home to charge your customers. One option is to open a bank account intended only for revenue of your business. Your customers can deposit or make a transfer via electronic banking. Another way to ensure steady cash flow in your business is to design different payment schemes, for example, weekly, biweekly, or monthly payments. It is better to not give extensions, but this is just the exception, not the rule.
Pay your taxes
Receipts of fees can work for large companies. Just do not forget to pay your taxes on time and at the end of the fiscal year, you can even get a refund for what you are due. To streamline this task, hire the services of an accountant to help you keep your accounts in order.