The Business of Being in Business for Yourself
by Gloria Whitehorn
Along with the freedom of being your own boss' comes great responsibility. If you're a good decision maker, organizer, can work independably, have a good supply of common sense, are knowledgeable about your product or service, can stay motivated, have lots of energy, are resilient and imaginative and no stranger to discipline; then, you may be qualified for the task.
It takes more than a desire to work at home. The home business industry is booming, but not everyone will be victorious. Don't let anyone tell you otherwise. It can be brutal.
And it can be one of the most rewarding things you will ever do for yourself. Just think of it. You decide when and where you work. You can give yourself a raise anytime you want.
Set your sites high, but be realistic. It may take some time to earn what you're worth. In other words...keep your eyes on the prize, but don't quit your day job just yet.
For the first six months to a year put all of your profit back into your business. Later you will be able to give yourself a small allowance.
The first thing you'll need to do is decide what area of business you want to go into. Let's say you've chosen sales. Sales is one of the most lucrative careers there is. You literally have limitless earning possibilities.
You'll need to find a product, or service that is in great demand. Choose a product you can be passionate about. If you're not passionate about your product your potential customer will see right through it.
Now that you've found your product it's time to put together a solid business plan. Plan your business; then work the plan.
Who comprises your market? What are your long term and short-term goals? How will you measure the success of your business? What licenses will you need if any? Will you need a sales and use tax number? What equipment will you need? Is there a place where you can conduct business undistrubed? What about financing? What marketing strategies will you use?
No matter what type of enterprise you go into, some aspect of it will require the art of promotion. It just goes along with the territory. There is no getting away from it.
Okay let's say you have your business thought out and written down and you have a product you're very enthusiastic about. Now you have to learn as much about your product as possible, so you can present, or demonstrate it to your potential prospects in an informative, intelligent, efficient manor. You must become the expert.
You will also benefit from learning how your customers have made use of the goods, or service purchased from you. Different customers may have different uses for the same item. It could be something you never thought of. To do this you could ask for testimonials, or run polls to find out what your customers really think. Take that knowledge and weave it into your marketing strategy because now you know exactly what your customers want and you should do everything in your power to give them what they want.
Let's say you're the wholesaler of a high demand product and you make an appointment to meet with the manager, or owner of a large retail store. Your goal should be to show the merchant the uses his, or her customers will make of the goods, or service. For some pointers on presenting your product to your market read my article Getting People to Buy Without Selling. (You will find it under Business/ Sales-Training.)
Stress customer benefits. Convince the merchant your product will meet a need of the buying public and that need, or want is worth far more than the price the retail store pays for the item.
Since their customers have this great need and desire for the product they will come back and purchase the same item from that retail outlet again and again giving the merchant a huge profit margin.
Show the customer how they benefit and you'll soon have a booming enterprise. Then you can increase your allowance and quit your day job.
About the Author:
Gloria is an article writer, business owner, author of two books, salesperson and seasoned mail order pro. Visit her site for information on a great part-time, full-time-anytime business. She knows what she's talking about.
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