Home Business, What's So Great About It?

Home Business allows you more time to do what you want.

Home Business gives you more freedom i.e. no more 9-5 job.

Because a Home Business is well... at Home, you don't have to travel far to get there.

Just come down stairs in your pajamas and get to work right there and then. It's so convenient.

What is this article about?

Basically this is about starting a Home Business, what's involved, what options there are, how much it can cost etc.

I have already described the advantages of having a Home Based Business, so now we will discuss what is involved in starting one up.

When you start working for yourself there are several things you must take into consideration.

How much can I afford to spend on advertising, materials and other costs, can I afford to lose the money I am going to put into this business, where will I get finance from? And a million other things.

So I will break this down into many small chunks which will make it much easier to digest.

How much money will I need to start this up?

That is entirely dependant upon you and your goals. You should only invest as much money as you can afford to lose, this way, if everything goes wrong you can still live without too much interference.

That aside you must think how much you are going to spend on advertising. To work this out, you should take all of your costs and assign them a percentage of your finance which you will put into them. For example, if you had $10,000 to start your Business, you could assign 10% to advertising depending on how much everything else costs.

In my opinion you should work out your initial costs first, like rent and materials for example.
Then you can take what's left over and assign it to whatever else you want to spend the money on afterwards.

How can I tell if I can afford to lose the money I invest in my Business?

Very simply estimate the most that the business will cost you and assume that it wont make any money at all for a month, obviously this will be a big loss, but it will give you an idea of what COULD happen if your very unlucky.

If it looks like way more than you can afford to lose, then don't do it until you are more prepared. But please remember that in business, there is no reward without risk. So if you don't risk your money, then you wont be rewarded.

Do I need finance? And Where can I get it from?

Do you have enough personal savings to start the business you want to? If you don't then you will need external financing.

The place where most people will get there initial financing is the bank. But there are other places and people as well.

Bank
Mortgage for premises
Loan
Venture capitalists
Grants

And many more, but the above are the main ones.

I'm sure you know what mortgages and loans are, but chances are, you don't know what a venture capitalist is.

A venture capitalist is someone who contributes financing to a business in exchange for part ownership of the firm. This is ideal if you are starting an expensive business which you might not be able to afford, but expect high profits from.

But be careful, when you give up part ownership you give up some profits.

How to Start and Suceed with a Home Business

No matter who you are, remember everyone starts from ground zero as far as experience is concerned. Building a home business is no different. One will have to lay the foundation first of all which will consist of choosing a product or service, that requires knowledge of what you are trying to sell. You can't help your customer very well if you are unable to fully answer their questions. Do your research so that you may present yourself in a professional manner. This will compliment you in the future.
Learn how to promote your business. The big companies learned this long ago or they would have never become big. If you don't believe me look at the flyers in your mailbox or just open the paper. Advertising is the key to letting the world know that you have something that they need or want. You can not drive down the street with out seeing signs, posters, billboards, or a store window that says 30% off. Remember advertising is your voice, without advertising no one will know you exist. The louder your voice the more that will hear. Isn't that what you want, for them to come to see what you have? Don't whisper, scream to the world!

Now that you have brought the customers into your store whether it be a physical store or an internet site, be excited about your products or service. People love to be around exciting people. It creates an atmosphere in which sales are much easier to make. Let them know that you believe in what you are doing, in other words don't be a fake, customers can sense this and are turned off by it. If there is a warrantee or guarantee let them know this, it will help to make the sale. Always let the customer know that you are going to be there to assist them if any problems arise.

Now you need to establish a customer database, keep in touch with your clients on a regular basis. This is important! Send them advertise-ments, inform them of new products or services that you have added to your business. These steps will help you create confidence with your clients. It is also important to ask them for their feedback and suggestions that might prove to be beneficial to your business. Remember the customer is looking from another vantage point and may be more helpful than you might imagine.

Finally, don't be afraid of change or updating your business when needed. Times and trends change rapidly these days. Technology demands changes and requirements continually. Most of the time it is to our advantage to change with it so that we can meet the needs of an ever changing world and customer demands.

Just as computers and software demands are changing, so are the needs of your clients. The world is always moving and so must you to keep your business healthy and prosperous. By following these basic rules and using good old common sense you can and will have an enjoyable and rewarding business future. You make your own future...so make it bright!

How To Get Customers To Respond To Your Adverts!

Have you ever wondered why it is after reading some adverts that you feel that you MUST respond to them immediately?

Today I will let you into the secret of how you can get your customers and potential customers to respond to your adverts.

It’s called a “call for action”. Let me explain. Every day we are exposed to different forms of advertising: whether it’s on the radio, TV, newspaper, magazine, the Internet, an email, the list goes on and on.

Whatever the medium the same technique “call for action” is used. For example;

Advert 1 Denim jean sale, everything must go. Sale now on!
Advert 2 Denim jean summer sale, now on! Everything will go. Hurry as Sale ends June 30th !
Advert 2 is more compelling as it gives the customer a sense of urgency. If they don't get to the store before the sale end date then they won't be able to benefit from the sale items. This strategy is particularly useful when you have slow sales periods or want to generate more sales.
Other examples include; limited stock availability, only 100 left, bring this voucher before.., offer ends, subject to availability, etc.

This has been working for years and years and still works today.