Starting A Home-Based Business Is Easy. It's Growing It That's Hard!

Friday, June 30, 2017


The great thing about the modern world is that almost anyone can start a business from the comforts of their own home, a legitimate business too. What’s more, the benefits of going down this route are almost second to none, especially when it comes to keeping costs down. But while launching a business from home is a great option to enjoy, there is one challenge that major homepreneurs don’t consider and that is growing their business. Oh yes, taking your business to the next level when you operate out of your spare bedroom can be quite the challenge. That is why we have come up with some helpful advice so that you can successfully grow your operations when the time comes to do so:

Forever Be Focused
One of the things most entrepreneurs want to do is spin all the plates they can at once, which can be a lot of plates because most entrepreneurs hold a lot of ideas. This isn’t going to be great when it comes to growing your business, though. What you should try and get into the habit of doing instead is using what you already have and focusing on those things you are already great at. If you can focus the majority of your energy on one or two things then you are going to stand a far better chance of growing your business than if you divide your focus into a large amount of smaller chunks. The reason this works is you’ll have a better chance of breaking into a niche part of the market, from where you can grow more easily. 

Expand Your Focus
Once you have gained yourself a little experience with the first step and began to get a little more grip on a specific niche, it is time to start focusing on how you can expand your offering a little bit more. The best way to do this is to look at which of your products have been selling the best and then bringing in products that are similar and products that relate. The reason this works is that you will be adding onto a formula that has already proven itself to work. Not only that but your existing customers will also appreciate having more products to choose from. The important thing to always remember is your customer service, though. By expanding your offering it can be far too easy to lower your standards in other areas, which will only affect your reputation negatively. So always make sure you are offering a high standard. 

Hire Some Help
Growing a business can be extremely tiring and extremely hard work and, sometimes, not possible to do alone. However, hiring people to help you when you work out of the spare bedroom can seem unfeasible. The good news is, it isn’t. Hiring help has become so much easier in recent years thanks to the connected world created by advancements in tech and the importance of outsourcing to startup businesses, which you can read all about here. It could be that you need to hire a virtual assistant to read and reply to your emails. It could be that you need a copywriter to help with your newsletters and email marketing campaigns. Maybe you want to hire a graphic designer to create an epic logo, or an infographic to go onto your blog. It could even be a part-time accountant to ensure your books are in order. Whatever it is you need, there is a world of freelancers that you can outsource certain tasks to on a task-by-task basis. Not only does this make it less risky financially, but it also allows you to build up a network of skilled people that can help grow your business; people you will be able to trust over time; people that can help you make better business decisions. 

Use Your Existing Customers
Your easiest and more effective way of growing your business’ revenue is to harness the spending power and loyalty of your existing customers. It is as simple as that. There are a few reasons for this, but the most important factors are the fact they have already bought from you and the fact your marketing costs won’t be anywhere as near as high. When it comes to successfully increasing your sales to existing customers, you should explore offers and promotions that could entice them. It could be a loyalty scheme that is offered strictly to existing customers, or a voucher in return for recommending someone, or a volume purchase discount or even a two-for-one offer. There are plenty of ways you can entice them back to your store and get them to spend more money, it is just a matter of trialing different strategies and seeing what connects most for you. 

Partner Up 
There are plenty of ways in which you can partner up with other businesses that operate in your sector, it just depends on what business you are in. For example, let;s say you have created a home-based business that makes delicious cakes and other baked goods. If that is the case then you should start approaching local coffee shops and restaurants whether they will stock them. If you’re not a bakery business then don’t worry because that doesn’t mean you can’t partner up in the same way. Let’s say you are a copywriter, what you should start doing is start offering your services at a reduced rate in exchange for them referring your services to their clients. Basically, what we are trying to say is that there is always a way you can partner up with another business, it is just a matter of finding the angle to do so. The best way to know which businesses to approach is to start by defining your target market and your target audience and then looking for businesses that serve these group. Just make sure they aren’t competitors. The other thing you should try and do is target businesses that are bigger than your own, those that are more established and those with a big clientele of their own. This will help you grow your own operation.

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