Clever Marketing and Operational Strategies

Ideally, the space you select for your office will match your personal work style and budget, qualify you for tax benefits to which you're entitled, and fit in with your household environment. To work effectively at home, most people need these basic work areas:

* Space for a desk and chair, where you can work with a computer, phone and other frequently-used equipment.

* Conversation space with chairs or a couch where you can collect your thoughts or hold meetings.

* Storage space for filing cabinets, books and reference materials

* Shelf space for supplies and infrequently-used equipment.

* Large work space for activities such as assembling materials and doing mailings or shipping.

If you don't have a separate room that can be designated for your office, choose a location where you will be disturbed the least. For example, partition off a section of your living, family or dining room. Alternatively, convert or remodel a space such as your garage, attic, basement or porch.

Organize Your Work Space for Success
Keep those things you most frequently use near your desk, based on this simple formula. On a scale of one to seven, rate the item you're storing or filing in terms of how frequently you use it. Give items you use every day a one; those you use once a year, a seven. Place items in the following locations according to how you rate them:

* 1: Place all these items within arm's reach of your desk area.

* 2-3: Keep these items within your immediate range in files or cabinets, on countertops or on shelves.

* 4-5: Store these items in nearby cabinets or closets, or on shelves outside your office space.

* 6-7: Store these items in remote locations such as the attic, basement or garage.

Make Your Business Official and Visible
Many home-based businesses fall by the wayside because they do not make their operations official and visible. Consider the following actions to avoid that pitfall:

* Clarify any zoning restrictions on your running a business from home. Make sure you can operate a business from your residence and, if there are problems in doing so, get a separate mailing address or apply for a use permit or variance to your zoning laws.

* Open a business bank account. Keep your personal and business affairs distinct from one another.

* Get a separate phone line installed in your home for business calls. A separate line helps you manage your personal and business lives more easily, and gives you a more professional image.

* Maintain regular business hours. Nothing annoys customers more than not knowing when and if you are open for business.

* Select a memorable name that fits your business image. A dull, confusing or inappropriate name for your business can result in clients overlooking you or not specifically understanding and appreciating what you have to offer them.

Create a Thoroughly Professional Image
A marginal business image leaves the impression that your home-based venture is not a truly professional one. So in setting up your enterprise, pay attention to key image components other than your business name that do not necessitate a big budget, but rather attention to detail. Here are some suggestions:

* Communicate quality with a custom-designed logo; avoid choosing one from a standard catalog.

* Apply this logo in a consistent way to give your company a professional and identifiable image on business cards, stationery, invoices, faxes and any other visual communications elements.

* Choose paper that looks and feels top quality for letterhead and business cards.

* Select professional locations for meetings with clients. If clients come to your home, avoid having them walk through personal or family areas, or schedule meetings at outside sites such as restaurants or hotel lobbies.

Utilize Word-of-Mouth Marketing
Word-of-mouth marketing refers to two highly effective practices: networking and referrals.

Networking, the most popular way to start and build a home-based business, refers to using face-to-face contact to establish relationships that can generate leads. It's based on talking with people about what you do and listening carefully to find out how you might serve them. Consider joining a networking organization, often called a "leads club," which is set up specifically to generate business leads for members.

Once a business is established, word-of-mouth marketing means getting referrals from satisfied customers. Let your customers know you genuinely appreciate their referrals; by so doing, you multiply the number of mouths talking positively about what you have done or provided.

Make Sure People Can Reach You
Research shows that people working from home spend more time talking on the telephone than on any other single activity. As a result, you need to be sure clients can always reach you so as not to jeopardize any business opportunities. Fortunately, a variety of sophisticated telephone equipment and services is available to ensure ongoing communication, as the following useful options demonstrate:

* Use voice mail to take messages when you're out of the office or unable to answer the telephone. Voice mail can be obtained from your phone company and other providers, or you can purchase an answering machine or add a voice mail system to your computer. Professional answering services and forwarding calls to the home of someone you hire are more expensive solutions.

* Use call forwarding to receive calls when you're out of the office. Other alternatives include purchasing a cellular phone, a 700 number or a pager.

* To handle incoming calls while you're on the telephone, get call waiting or voice mail that picks them up so people never get a busy signal.

* To prevent unnecessary interruptions, subscribe to your local phone company's VIP alert so only desired calls come through during the time periods you designate.

* if you are running short of phone lines, get distinctive ringing that gives you two phone numbers on one line, or double up on one line by purchasing a combination fax/phone/answering machine that automatically recognizes when a fax is coming through.

If you manage a factory, wholesale outlet, retail store, Service store, or are a contractor, you'll need to sell. No matter how
good your product is, regardless of what customers think of it, you must sell to endure.

Direct selling methods are through private sales efforts, Advertising and, for most businesses, exhibit - including the packaging
and styling of the item - in windows, in the institution, or even both. Establishing a good reputation with the general public
through courtesy and distinctive services is an indirect method of selling. While the latter shouldn't be neglected, this brief
discussion will be restricted to direct selling methods.

To establish your business on a firm footing requires a Whole Lot Of aggressive personal selling. You might have established
competition to conquer. Or, if your idea is new with little if any competition, you have the extra problem of convincing people of
the value of this new thought. Personal selling work is almost always necessary to achieve this. If you aren't a fantastic
salesperson, seek an employee or asociate who's.

A second way to build sales is by advertising. This may be achieved Through papers, shopping papers, the yellow pages section of
the phone directory, along with other published periodicals; radio and television; handbills, and direct email. The media you
choose, in addition to the message and kind of presentation, will depend upon the specific customers you would like to reach. Plan
and prepare advertisements carefully, or it will be unsuccessful. Most media are going to be able to describe the features of
their viewers (readers, listeners, etc.). Ever since your initial planning described the qualities of your potential customers,
you need to match these characteristics with the media crowd. If you're selling expensive jewelry, then do not market in high
school papers. If you fix bicycles, you likely should.

Advertising can be quite costly. It Is a Good Idea to put a limitation upon An amount to invest, then stay within that limitation.
To assist you in deciding how much to invest, study the operating ratios of similar companies. Media advertising salespeople can
help you plan and even prepare ads for you. Make sure you tell them your budget limits.

A third method of stimulating sales is effective displays both in Your place of business and outside it. If you've had no previous
experience in screen function, you will want to study the subject or turn the job over to someone else. Watch displays of other
companies and read books, trade publications, as well as the literature supplied by equipment manufacturers. It may be wise to
hire a screen expert on your opening screen and unique events, or you may get the services of one on a part-time foundation. Much
is dependent upon your type of business and what it requires.

The appropriate amount and types of marketing campaign to utilize change from business to business and from owner to owner. Some
businesses prosper with low-key sales attempts. Others, like the used-car lots, thrive on competitive, hoop-la promotions. In any
case, the importance of effective selling cannot be over-emphasized.

On the other hand, do not lose sight of your major goal - to Make a profit. Everyone can produce a large sales volume selling
dollar bills for ninety bucks. But that will not last long. Keep control of your costs, and cost your product carefully.

Record Keeping. One essential element of company management is the keeping of adequate records. Study after study indicates that
many manager failures could be attributed to inadequate records or the proprietor's failure to make use of what information was
available to him. Without records, the businessperson cannot see in advance which way the business is going. Up-to-date records
may predict impending tragedy, forewarning you to take steps to avoid it. While additional work must keep a decent set of
documents, you'll be more than repaid for the effort and cost.

If You Aren't prepared to maintain adequate records - or have someone Keep them - you shouldn't try to run a small business. At a
minimum, records are Required to substantiate:

1. Your yields under taxation legislation, including income tax and social Safety laws;

2. Your request for credit from equipment makers or a loan From a lender;

3. Your claims about the company, in case you would like to market it.

However, most important, you want them to run your business successfully And to increase your profits. With a decent. Yet simple,
accounting system you may answer these queries as:

How much company I doing? What are my costs? Which appear to be too large? What's my gross Profit margin? My net gain? How much am
I piling in my charge business? What's the state of my operating capital? How much money do I have on hand? How much in the bank?
Just how much do I owe my Providers? What is my net worth? That is, What's the worth of my ownership of The business? What are the
trends in my Receipts, expenses, gains, and net value? Is my financial position improving Or growing worse? How do my resources
compare with what I owe? What is the Percentage of return on my investment? How many cents from each dollar of Sales are net gain?
Answer these and other questions by preparing and studying balance sheets and profit-and-loss statements. To do this, it is
Important to record information regarding transactions as they happen. Maintain This data in a comprehensive and orderly manner
and you will be able to answer the above questions. You will also have the answers to such other vital questions About your
company as: What services or products do my clients like best? Next best? Not at all? Do I carry the product most frequently
asked? Am I Qualified to render the services that they need most? How a Lot of my charge Customers are slow payers? Shall I switch
to cash only, or use a charge card Bill plan?

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