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Title: Home Based Business Plan Guide
Author: Charles Fuchs
Article:
Every home based business needs a plan to be successful. It
isn't enough to have a great idea for a home based business and
just hang out your shingle. Which is a something that many home
based business owners learn too late. So even if you aren't
going to be borrowing money for your start up home based
business, you still want to take some time to create a
thoughtful, realistic business plan.
The first step in creating a home based business plan is to
clearly define your goals. It isn't just a matter of saying you
want to make a certain amount of money in, say, five years or to
leave your competition in the dust. These are certainly lofty
goals, but they are vague. You want to define what your home
based business really is at the beginning and where you want it
to be. It's a good to 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 your objectives this way gives you a road map to refer
to and will ensure you're on the right track and that you stay
there.
Second, you have to know the market potential for your home
based business. After all, there has to be a demand for the
product and/or service you are offering or you have no business.
If your home based business is going to provide business
cleaning services, for example, you'll want to be sure that
there are companies and offices in your immediate area that need
your service. You will also want to look at surrounding areas
for opportunities to grow your home based business in the
future. The amount and type of competition for your service
needs to be taken into consideration too. If your area is
already saturated with business cleaning services, you may need
to consider a different service altogether. Without some
planning and research, however, you won't know this in advance,
and your home based business won't be as likely to succeed as it
could be.
Next, you want to consider all the costs your home based
business will incur. A lot of times when people work at home at
their own home business, they fail to consider the small
expenses. Printer ink, paper, postage, long distance phone calls
and cell phone bills are easily missed when considering the cost
of operating a home based business. And these seemingly small
amounts add up in a short amount of time for most business
owners. So realistically look at all the costs involved with
owning and operating your home business. This way you'll know
how much you have 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 can have the best product and/or service
going, but it won't do you any good if you don't market it. You
need a marketing strategy for your home based business, and you
need to plan for the costs involved in making it a reality. You
may only be thinking about flyers, circulars and posters to
begin with, but they do cost money to produce. And you need to
think about other ways as well. Radio, billboards, direct mail,
email, Web advertising are all great ways to promote and market
your product and/or service. It's wise to do some research into
what type of marketing tools work best 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 do this, you'll need
to, yes, plan for that. Plan for how much you can spend at the
beginning and how much you want to add to your home based
business marketing as it grows—which, with the proper planning,
it will certainly do.
Charles Fuchs <a
href="http://www.charlesfuchs.com">http://www.charlesfuchs.com</a
> <a
href="http://charlesfuchs.blogspot.com">http://charlesfuchs.blogs
pot.com</a>
I grant permission to publish this article, electronically or in
print, as long as the bylines are included, with a live link,
and the article is not changed in any way.
About the author:
Copyright © 2006, Charles Fuchs, President of Vision Management
Enterprise Inc., is an established online marketer who
specializes in helping people start their very own <a
href="http://www.charlesfuchs.com">Work at Home Based
Business.</a></p>
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