Launching a business from home may be a quick and easy process, but many challenges lie ahead. As you put your business plan into practice, you will ﬁnd yourself juggling everything from ﬁnances to sales, marketing, customer care and supply chain. You need to keep an eye on your small business cashflow as much as you strive for home business sales.
Running a home business is both exhausting but also liberating. There is a huge volume and variety of jobs to be done. At the same time, working from home means a flexibility that is not possible for those in full-time employment.
This chapter looks at what you need to focus on once your business is up and running: from ﬁnancial planning, to sales and marketing.
Once your business is up and running, the jobs will come flying thick and fast. Here’s what you should be thinking about as you build your business:
"WHAT PROBLEM ARE YOU SOLVING FOR YOUR CUSTOMERS?"
Everyone starts out as their own sales rep, and to get started you need to ﬁnd customers. Start by writing a list of people you know and make contact with all of them personally. Next, identify prospective buyers or customers in your local area. Make sure the customer, not the product, is your starting point when you are selling: What problem are you solving for them? And above all, persist.
Today, it’s easier than ever with digital channels and social media to reach new audiences and increase your customer base.
The key on social media is relevance: where are your customers; what conversations should you be joining; what relevant content can you be sharing?
Online, you need to keep the message simple, visual and clear. And don’t be afraid to ask customers to support and champion your business through their own channels.
Cash is king, but keeping track of it can be harder than it looks. As a new business with no credit history, you need to build up a record of paying bills on time. Don’t let sales and proﬁts distract you from the fundamental need to ensure there is enough money in the bank. And keep a ﬁrm handle on people who owe you money through a good business cashflow analysis.
"KEEPING TRACK OF IT CAN BE HARDER THAN IT LOOKS"