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Home based business plan


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Home based business plan

  1. 1. ==== ====For step by step instructions on making money from home ====Every home based business needs a plan to be successful. It isnt enough to have a great ideafor a home based business and just hang out your shingle. Which is a something that many homebased business owners learn too late. So even if you arent going to be borrowing money for yourstart up home based business, you still want to take some time to create a thoughtful, realisticbusiness plan.The first step in creating a home based business plan is to clearly define your goals. It isnt just amatter of saying you want to make a certain amount of money in, say, five years or to leave yourcompetition in the dust. These are certainly lofty goals, but they are vague. You want to definewhat your home based business really is at the beginning and where you want it to be. Its a goodto break this into segments. Where do you want your home based business to be in six months?A year? Eighteen months? Two years? A home based business plan that outlines yourobjectives this way gives you a road map to refer to and will ensure youre on the right track andthat you stay there.Second, you have to know the market potential for your home based business. After all, there hasto be a demand for the product and/or service you are offering or you have no business. If yourhome based business is going to provide business cleaning services, for example, youll want tobe sure that there are companies and offices in your immediate area that need your service. Youwill also want to look at surrounding areas for opportunities to grow your home based business inthe future. The amount and type of competition for your service needs to be taken intoconsideration too. If your area is already saturated with business cleaning services, you may needto consider a different service altogether. Without some planning and research, however, youwont know this in advance, and your home based business wont be as likely to succeed as itcould be.Next, you want to consider all the costs your home based business will incur. A lot of times whenpeople work at home at their own home business, they fail to consider the small expenses. Printerink, paper, postage, long distance phone calls and cell phone bills are easily missed whenconsidering the cost of operating a home based business. And these seemingly small amountsadd up in a short amount of time for most business owners. So realistically look at all the costsinvolved with owning and operating your home business. This way youll know how much youhave to bring in to meet expenses and hopefully, to make a profit.Now you want to think about how you will market your home based business. Again, you canhave the best product and/or service going, but it wont do you any good if you dont market it.You need a marketing strategy for your home based business, and you need to plan for the costsinvolved in making it a reality. You may only be thinking about flyers, circulars and posters tobegin with, but they do cost money to produce. And you need to think about other ways as well.
  2. 2. Radio, billboards, direct mail, email, Web advertising are all great ways to promote and marketyour product and/or service. Its wise to do some research into what type of marketing tools workbest for your type of home based business and use a combination of offline and online advertising.You may want to start with more inexpensive marketing methods and work up as you go. To dothis, youll need to, yes, plan for that. Plan for how much you can spend at the beginning and howmuch you want to add to your home based business marketing as it grows--which, with the properplanning, it will certainly do.Charles Fuchs[]I grant permission to publish this article, electronically or in print, as long as the bylines areincluded, with a live link, and the article is not changed in any way.Copyright © 2006, Charles Fuchs, President of Vision Management Enterprise Inc., is anestablished online marketer who specializes in helping people start their very own Work at HomeBased Business.Article Source: ====For step by step instructions on making money from home ====