|
  You can turn any idea
into a profitable, home-based business. Most larger companies have started their
businesses from their living room floors, their basements or their garages. You have the
same ability to create a world-wide market, needing your products.But don't forget the 5 C's to a successful business
Concept, Criticism, Competition, Credibility, Common Interest
Concept
Every business venture starts with an idea.
but, without a good concept - no matter how passionate you are -- odds are your business
will fail.
- Benefit the
Customer:
Your concept should fill a void in the
marketplace, if it doesn’t - find one that does!
- Be Passionate
You should enjoy your concept and be excited
enough to relay your feelings to your market. After all, how can a consumer get hyped
about your product or service if you aren’t?
A business does not run solely on money, it runs on passion. You can survive in business
without a large bank account - but unless your passionate about your business, no amount
of money will make it sell.
- Re-invention
Your concept doesn’t need to be a freshly
thought idea - but could be an improvement to an existing market. There are all kinds of
new businesses that have tried and failed. Perhaps, you could improve something about them
and bring them back into the market as “ a new and improved” product or service?
- Improvement could
be as simple as:
- Better service and quality
- A new method of delivery
- Improved technology, etc.
No
matter how good and exisiting idea
There is always a better way to do it!
Example: The tissue was first offered to the market as the
new “face towel.” Sales lagged for many years, and it wasn’t until it was
reintroduced into the marketplace as a “throw-a-way” handkerchief did it become
successful. Their new slogan, “don’t put a cold in your pocket,” helped an
old idea get new success.
Criticism
Be prepared to
accept all criticism.
It will help you to improve your concept.
- Because you are concerned about running your business on
minimal dollars, the less expensive criticism will come from friends, relatives, and
neighbors. It’s far better to receive FREE criticism - than to pay for marketing
research that puts a dent in your bank account, but doesn’t yield any useful results.
- Be prepared to get LOTS of criticism and to put it to good
use. Perhaps, a survey in your intended market - could provide some valuable information
to be used in making your product better.
- Ask questions like: Is there a need? Would YOU buy it? What
price would you expect to pay for it? Is there a better way to provide it?
- Remembering what we stated above, (there’s always a
better way to provide a concept) - your received criticism should be used to enhance the
product or service before you release it to your market. This step will save you time and
money.
Competition
Check out how
they are providing to their market.
- There’s no doubt in my mind, the expert in the field
gets more business. Create a niche in your market and zero in on an idea that has
potential for growth.
- It’s important to remember - don’t try to be good
at everything - just be good at something! People will remember you for it.
- If you are offering a product which is in competition from
an existing business, be prepared to handle your business so it answers the following
questions:
- What makes my company different from my competition?
- Why would my market be better off doing business with me?
- What can I give to my market to insure a more pleasurable
experience by doing business with me over my competition?
- Does my product or service exceed the expectations of my
market?
- If you can’t answer the above points - and KNOW what
makes your product more unique than the competition, you won’t be able to relay that
to your market.
- Refine your marketing -- define the needs of your market by
listening to the customers and understanding what their needs are. Does your product fill
that need? Is there something more you could do, to make it more attractive to your
market? Is your product a solution to a problem in your market? How will you handle
customer service complaints? What are you guarantees to your customers?
- An Interesting Fact:
Most companies fail to realize, 80% of future company sales will depend on repeat orders
and referrals from satisfied customers. Your satisfied customers are the best and cheapest
source of advertising; bringing additional business through referrals. Exceed your
customers expectations and they’ll be back and will refer you to others. Remember,
those that have been referred to you, have been presold on your products.
Credibility
(Gaining the edge) -
Community involvement.
- People like to buy from friends. The more involved you
become with your community, the more friends you will make.
- I’m not talking about joining the local YMCA just to
make business contacts either. You need to be “sincere” in your approach and
willing to work hard for the community you live in. Hard work and perseverance will
eventually pay off as members of the community will remember you by your deeds and
eventually will refer you to others that need your services.
- If you don’t the available time to offer your
community, there are other ways you could provide them with your services. Such as:
- Local charities need something of value to give out as
gifts. Perhaps, you could provide T-shirts for the winners.
- Provide special discount cards to other businesses in your
communities.
- Talking at a local school or college regarding your
business.
- Sponsor a local event where your community would benefit.
Common Interests
(Networking) - is a
necessity to learn.
By networking with other business owners, you have
everything to gain and nothing to lose. You will learn new ideas to do business and meet
other experienced business owners who can help you exceed in your market.
Some ways to network:
- Local Chamber of Commerce
- Rotary Clubs
- Lions Clubs
- Volunteering Organizations such as: American Cancer Society,
ADL, Unicef, American Red Cross, Turning Point, etc.
- Business Owners on the WWW - form an online discussion group
or chat network where you can share additional information regarding business.
Networking individuals are glad to help those in their
group. It’s better explained as “a small community” made up of business
owners, willing to help one another to gain valuable information to be utilized in their
market.
You can join any association and in return, receive
valuable leads who will tell others about your business. You could create a database of
the business owners you have exchanged business cards with, and call them in the future to
do business or to find additional information regarding a need.
If you can’t find a suitable networking group to help
you - you could start your own Networking Community - made up of the small businesses
located within a 30 mile radius of your own business. [Perhaps, delegating a printed
roster to each business, showing them others in their Networking Community that are
available to receive phone calls from another member.] Or possibly, your networking
community could agree to do business with each other? If there is a printer in the group -
all the rest in that community would utilize the printing services. Is there an accounting
person in your community? Perhaps, this accounting firm would get all the tax business
from the rest of the community members? THINK.... there are plenty of ways you could gain
exposure for your business. Most ideas, are common sense methods where an individual takes
the initiative to get it started! The best part of networking - it’s FREE advertising
for your business and for you.
Summary:
You can turn any idea into a profitable, home-based
business. Most larger companies have started their businesses from their living room
floors, their basements or their garages. You have the same ability to create a world-wide
market, needing your products.
- If you have an Entrepreneurial spirit, you’ll find a
way to offer the public something you feel would benefit them.
- It doesn’t necessarily have to be a “new
invention” or a new idea. You could take something on the market today, and make it
better.
- To be successful, your business should exceed your
customers’ expectations.
- To increase your credibility, you should become more
involved with your community.
- Networking is free - and could provide the most valuable
exposure for you and your company.
HomeBiz
How to
Get Your Husband to Back Your Business
by Liz Folger,
Work-at-Home Mom Expert
  "Please -- Pretty Please!! I really, really want to do
this." From the sounds of things you'd think a parent and a child were in "one
of those" arguments. But it's really a wife trying to persuade her husband to let her
work from home. Getting your husband to back your home business can, at times, be as
hazardous as those black diamond ski slopes.
Faces of Home
Education Profile
The Pattern of Success
Homeschooler sews her
way to a successful business
hosted by Joe Spataro
  Homeschooler
Jennie Chancey was able to take advantage of the flexibility offered by homeschooling to
learn how to sew. She has turned this love into a successful
business called Sense & Sensibility. I had the opportunity to interview
Jennie and ask her a few questions about homeschooling, her vintage dressmaking business
and how she is helping other homeschoolers to share in her love of vintage dressmaking. |
 
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by Brabara Brabec
 
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