No, no, not trying to scare you away, but knowing where others have made
mistakes will help you to avoid them.
But let’s remind ourselves of why we want to start our own home business—
because we’re tired of making money for someone other than our self.
With that thought in mind, onto the things that you want to consider.
Many home based businesses fail because the person did not have the
experience to maintain sales and profit. This doesn’t mean that you need to
be an expert right from the start, but you do need to adequately research the
business that you are getting into and see what you need to know.
It may be a question of learning about how your product is made from start
to finish. Maybe you just need to get into a customer’s shoes to see the
business from their point of view. Do everything that you can to be the best
at your chosen field.
A lot of home businesses fail because they don’t have enough money to
begin with. And while the saying goes that you don’t have to spend money
to make money, you do need to spend money to have the right equipment
and look professional in your field. This means quality office supplies and
computer software to the right equipment to manufacture the product or
provide the service.
You need to plan out everything that you think you might need as well as
plan for anything that may go wrong when you’re first setting up your small
Along this same line, many home businesses fail because they blur the lines
between personal and professional. You’re not supposed to use the loan for
personal items or bills, but some business owners have. Not only does this
create a strange dichotomy of business and home, but it also makes you feel
like you’re being profitable when you’re really using borrowed money.
You borrow money for a reason—use it only for that reason.
And funny though this sounds, many home businesses fail because they don’t
expect to grow. However, if they’d read some of the earlier articles, they
would have planned to be successful. You have to have in your head the
maximum amount of business that you can expect in the beginning, and then
make sure to factor in growth.
If you’re selling an item on the Internet, you’ll need to have the power to
have a lot of people on your site. If your site crashes, you not only lose
business, but you’ll lose potential customers as well.
PERSISTENCE, PART TWO
Back to creating persistent growth, we’re continuing on with building a
genuine interest in the product or service that you are selling.
This is absolutely crucial for growing your home business. You’ll have to
figure out what sets your product or service about those that are like it. Why
would someone want to buy this product? Ideally, you want the product to
sell itself because it’s so well-adapted to a target audience.
You want your target consumer to think that they couldn’t live without your
business and that there’s not thought needed as to why they want to
purchase the product.
And other way to be persistent in your business is to make sure that anyone
that could or should want to know about your business can. This means that
you want to explore various types of advertising as well as information
distribution. Gone are the days when everyone watches television and will
see a commercial; most people are getting their information by Internet.
Perhaps you can investigate building a website that details your business and
what it has to offer. Create a catchy website name as well as find other
similar websites that can have links for their customers to find your site.
Work out some sort of deal when a referred customer goes to one or the
other site. You’ll end up benefiting each other.
You can try advertising in sections of the local newspaper. If you’re gearing
your product or service to men, then (as stereotypical as it may sound) put
the ad in with the sports. Any business related ventures will do well when
advertised in the business or finance section. Find related sections to find a
more selective audience.
Trade magazine are another great place to advertise as well as flyers and
brochures in targeted locations. Calling is more difficult with caller ID these
days, but it never hurts to try that route either.
Persistence means delivering what you say that you will deliver. If you
promise high quality, then deliver it. If you say that a product or service will
do something, make sure that it does.
And for a final say in persistence, you want to make sure that what your
customer wants and needs from your company matches up with what your
goals intend. When everyone is in agreement, you’ll be looking at a