Archive for March, 2005

Help for the Home Based Business

Tuesday, March 22nd, 2005

Wouldn’t it be great to get some good, affordable, reliable help, even though you work out of your home? But finding workers and figuring out where to meet or when to bring them into your home office can pose some difficult juggling, personal and security issues.

A popular solution is outsourcing. When you outsource, you can hire experienced people and let them use their creative talents while you focus on other tasks. Another benefit is that the workers you hire may be more up to date on the latest information and technology in their specific fields and can be assets to your clients, as well, offering improved quality service.

OUTSOURCE

Here are the basics to outsourcing:

Focus:

Focus on outsourcing some of the major tasks of your workload. First, sit down for a breather and look around your ‘To Do’ lists and office area. What CAN you outsource? Which work seems to pile up the most?

For example, maybe you can’t seem to find time to update your website each month. Maybe your newsletter is STILL not getting out regularly. Or perhaps your direct mail campaign is not quite as direct as it should be; i.e. it is sitting directly in the same pile it was three months ago.

Then write out one-page project description for these major tasks. Focus on WHAT exactly you’d want done, WHEN and HOW the end product should turned in to you.

Take Action:

Then look for service providers. For example, with the sample tasks above, find people who can help with Internet websites, newsletter creation and sending out direct mail campaigns. Call round and surf the Internet and ask other home based business operators which companies they recommend. Check forum posts; inquire for advice and suggestions. Shop around for comparisons.

Then set up trial periods and test a couple. Remember, no one is perfect. See who you can communicate with pretty easily and who’s flexible to work as a team player. Check out the quality (and quantity) of their work. Then choose a candidate. Remember, this decision is not carved in stone. And you can always hire the other person as a back up or second helper down the road. So be kind to all who test, make decisions and keep your business moving forward.

ROI:

Make the most out of your investment and get a great return by investing in your time wisely, too. Outsourcing will hopefully free up more time for you to focus on the work you like and allow more time for marketing and advertising, to increase sales and projects. Don’t forget to brush up on your skills and keep up with the industry now, too. Read the latest ezines in your field and take a brush up course or workshop to improve your skills.

Network and seek out joint venture opportunities.

Outsourcing is a great way to help small businesses grow larger while still remaining at home. So reach out and give it a try!

Product Development for Home Based Businesses

Tuesday, March 22nd, 2005

Developing products can be a challenge in the home based business environment. Where do you go for a laboratory to create and test new product lines? Where do you turn for new packaging and marketing? Where do you turn for help?

You’re there. YOU are the crack team, as Donald Trump says. So forget about looking around. You’re it. Here’s what to do for your own product development.

First find a need. You want sales, so find something people want. How? Communication is the key. Ask your friends, your contacts, your business associates, your clients. See what they could use to make their lives easier. Poll them, survey them, email them, call them. Post questions on forums and chat rooms. Be like television’s Lieutenant Colombo (or the original Pink Panther) and enjoy the search, but don’t give up until you get your answers.

Second, get organized NOW, if you aren’t already. Take good notes as you go along. Keep organized, well-labeled computer and print folders and files in handy places. Use an organizer with a calendar if you need to. Third, create a product based around the need you discovered above. No need to be Einstein or invent the wheel. Search and find others in the industry to help and see how others did their product creation before you. Then copy their methods –not ‘exactly’, but rather ‘similarly follow in their footsteps.’ I.E. read trade journals, search the Internet, review archived magazine articles, ask your local librarian to help you – and research “how to” get your idea off the ground based upon how others have done it in the past. Then team up, share ideas, share resources, share marketing funds and share revenue, etc. with those experienced. Reach out and don’t be afraid to find help and share. No need to go it alone or be greedy.

Third, along the way, get legal or other authoritative help as needed. Start with the Small Business Administration and find out if you need special permits, licensing, fees, contracts, legal structure, etc. Comparison shop, if possible, and get set up properly.

Fourth, there are plenty of ideas to go around. After one success, you can move on and duplicate it again and again. Do it. And give back to the community. Help others get their businesses established and growing.

In summary, product creation can be challenging. But the results can be so rewarding. So take the plunge and forge ahead!

Sales Tips for the Home Based Business

Tuesday, March 22nd, 2005

Working out of the home often means juggling multiple tasks and wearing many hats. But look out. When there is so much to do that there is little time left over for sales and marketing activity, sales can dry up and often do. Here are some ways to avoid that.

1. Monthly Focus – Each month, grab your calendar and see which holidays are coming up. Then focus some type of activity around them. At least minimally, setup a direct mail campaign through the U.S. Post Office site (usps.com) in these quick steps:

Choose one of their postcards.

With their online tools, edit the back with a quick note, sale of some type & referral request.

Load an Excel document of addresses, pay and send.

2. Ad Campaign - Plan ahead with advertising representatives by gathering their media kits and asking about special deals or rates they may have for you. Then follow up and plan a 12- to 16-month campaign, even if it’s just a small classified that runs regularly. That way you’ll always be covered whether you’re too busy to care or not. You can always supplement with cross-promotional pieces. But at least, set up a foundation to get you through the year.

For inexpensive ads to run throughout the year, check out neighborhood newspapers and free or cheap magazines and papers that are placed inside public libraries, large grocery stores and country-type restaurants. PennySavers and Thrifty Ads are other sources.

3. Regular Income Stream - Don’t just have all large projects. Set up a few (or several, depending upon your budget needs) smaller, regular income-producing projects to generate weekly / monthly income. And maintain a steady flow as much as possible. In other words, if five regular, smaller jobs pay the day-to-day bills, once one of them quits or runs out of work for you, replace it as soon as possible so that you maintain your steady ‘five’ as much as possible.

Some people setup affiliate programs in this manner; selling something for someone else and earning a percentage or profit for selling. They target so much income from one source of revenue stream to cover a certain portion of expenses. And if this runs out of steam, they beef up promotions or switch to another affiliate program. Learn more about affiliate options from a place like Commission Junction (cj.com). Or in your favorite search engine, type in ‘affiliate programs’ and see which ones are popular.

So when you juggle, remember to mix in SOME type of regular sales and income generating opportunities. You don’t drop the ball!