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Work at Home: First Step Writing Your Business Plan

Posted By: admin on 0000-00-00 00:00:00
 

hile being persistent doesn’t sound like one of the first steps in planning
your home business, it certainly has its place. You need to learn how to be
persistent and not give up. This will be the most important tool as you begin
to plan your home based business.

You want persistent growth and persistent results, right?

First of all, it helps to start off with some plan for your business. In the next
article, we’re going to be talking about making your professional business
plan, but for now, let’s talk about why this is so important.

A lot of stay-at-home workers believe that their jobs are less important than
the ‘ordinary’ 9 to 5 rush. They feel that they are not legitimate in some
way, or at least not as professional, so they treat themselves like they are
less.

So they skip the most important step: a business plan.

While this sounds like something only for corporations, this is not the case.
You can focus your efforts and your energy by creating a well-thought out
business plan with carefully planned details.

Next, you’ll want to start networking. For those that don’t know, this is a
fancy way of saying that you’re going to have to start talking to people who
are in your field or who can help you with your business venture. These can
be former co-workers or bosses (provided you left on good terms). Friends
and family can also help if they are somehow related to your business
venture.

Talk to people; create a network of resources that you can turn to when you
have questions that need to be answered or problems that you’re having
troubles solving.

All of the great leaders of our time had resources and places to turn, so
should you. And even the smallest ally can help you.

Be persistent when you are trying to get new business. Talk with your
customer; try to relate to them personally. Find out what they want and
need from your business and go above and beyond that need.

If a customer is not happy with your product or service, find a way to fix it
and make them a part of the fixing process. People love to have their
opinions heard, so why not use that to your advantage?

You’ll learn more about your customers as well as build a personal rapport
and trust.

Persistence pays off a hundred times over and help you retain persistent
success.

WRITING A BUSINESS PLAN

Since you’re going to be running a legitimate business, you’re going to need
a plan. And the best way to accomplish this is to do what big and small
corporations have done—write a business plan.

Consider these questions:

• What are you doing for your business and why are you doing it?
• Who is your audience and why will they do business with you?
• How will you find and contact your customers?
• Where will you get the start up funds that you need?

By separating your plan into these sections, you can easily see where you
may need to plan or research more.

The first question relates to your “Statement of Purpose” as some might call
it. If you do not have a clear vision, then how can others understand what
your goals are? This is the most important part of your business plan.

The next question deals with understanding who and if there is a customer
base for your product or service. This is a step that requires research into
your business and an understanding of the need for your service in the
modern market. Of course, if you aren’t quite sure who you are marketing
your product to, it may still work, but knowing your audience is the best way
to go into business with a minimal amount of risk for failure.

You need to know if someone is going to give you money for what you want
to do.

And finding and talking with these customers is vital to maintaining and
growing your business. Are you going to advertise or start up a website?
Are you planning on cold-calling or relying on references? What are you
going to need to do to bring customers to you?

This is an issue of creating visibility and demand. Word of mouth works
great too, but it can be slower coming than these more visible ideas
(especially when used in conjunction with each other).

And you can’t forget about the money. Where are you going to find the
money to buy the equipment or tools that you need to make what you want
to sell? Perhaps you just need more office equipment. You will need to look
into small business loans for larger expenses, thus you will need to detail
how much you need altogether.

A business plan is a written-out clarification of how you want your business
to run. With a little planning, you’ll be able to find any flaws in your thinking
and correct them before launching your home business.

   
     
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