So, you’ve had enough of working that 9 to 5 job Monday through Friday and are thinking about taking what you know and your skills off on your own to start a home business. Before you give up the 9 to 5 you will need to take a lot into consideration such as your marketing plan, how you are going to fund this and how you are going to advertise.
Be concerned about your future. Not many of us leave home without having some sort of plan in place and it should be no different when you are deciding to leave your job behind and go out on your own. Make sure you know where you are going. You will need to figure out what exactly your business is going to be, decide what market area needs your business the most, who is going to buy your service or product and why you think it’s needed.
Get to know the target market you are considering. Make sure you do adequate research on those people that you are going to want to serve or sell your products to. Make sure that you have what they really are looking for.
Check out the competition and see what they are doing and how well their businesses are doing. Check in your phone book go online and find businesses that do what you want to do or at least similar to what you do. Call and ask them how they did this year with their business and then ask yourself what it is you can do better to make your service more needed than theirs. Figure out how you can outdo your competitors.
Reach out to others and let them know you are going into business on your own. Make sure to create your marketing plan so it includes how you plan on advertising. You will need to advertise in all manners you can think of. You should place ads in newspapers, put fliers up around town, place ads on the Internet by going to sites that allow you to post your ads, make a website to advertise your business and always, use word of mouth, this still works even in this day and age of technology.
Make sure that you know all of the rules that you must follow to keep your business legal by making sure you know all of the regulations there might be set down by both your state and federal government.
You will need to make a plan that will include details on all of your daily operations. You will need to figure out how your product or service is going to be delivered or manufactured and if you are selling products how are they going to be delivered to your customers. You need to know this before you open shop the first day.
Are you going to be able to fund all of the costs to start up, be realistic. If you truly can’t dish out all of the money are you going to be willing to get a hold of your local banks or other lenders and see if you can get at least some of it by getting a small business loan. You don’t want to start up a business and not have enough capitol to get through the first 6 months of the year.
Make sure you plan well ahead of time. Save up enough money that will cover all of your own monthly bills for at least six months after you start your business. So, this means don’t quite that 9 to 5 job until you do have that much money saved up.