How To Start A Successful Home Based Business

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  • 1. How to Start a Successful Home Based Business
    November 14, 2010

2. What do you want to do?
Identify the PASSION
Do your what you are GOOD at
Business
Hobby
3. How do you Start a Home Based Business?
Set up an office with desk, chair, and file cabinet
Use your cell phone (change messaging)
Create business cards
Network like crazy and pass out the cards
Consider whether you are going to do this
PT, FT, as a hobby
If giving up job, old employer might be a good start
4. Where should You Start Your Business?
Obviously, at home!
Separate room with door is preferable
Set hours, especially if have family
Try to not take calls after hours
Set up PO Box for Privacy
5. When is a good time to Start a Business?
Write a BUSINESS PLAN
Have some monies set aside
Network like crazy
NOW is the perfect time
6. Why Start a New Business?
Freedom
No limit on how much money you make
Choose clients
Set own hours
7. Resources to get you Started
Talk to Friends and Family get their support and input
Go and see SCORE
Register your Business Name with the State
Create a Website
Put together Prospect List
Join Linked In and Start Calling Prospects
8. Set Goals
Have a Yearly Retreat with a Revenue Goal
Set Monthly Goal
Number of Calls
Revenue Objectives
Set Weekly Goals
How many phone calls do you need to make?
How many appointments?
Close Ratio?
9. Biggest Problems with Small Business
Pipeline
Keeping Clients
Too Many Clients
Need to have Subcontractors
Be honest
10. What about Pricing?
Figure out Your Total Costs
Figure out Your Value
Certifications
Education
Knowledge
Dont Settle for Less
Worst Case: Break down current hourly salary and add 33% for benefits
11. What about Pricing?
Figure out Your Total Costs
Figure out Your Value
Certifications
Education
Knowledge
Dont Settle for Less
Worst Case: Break down current hourly salary and add 33% for benefits
12. What about Promotion?
Business Card is Must Have
Dedicated Phone with messaging
PO Box
Website
Email Address that isnt goofy
Use Google Analytics to Measure Goals
Join Professional Associations that make Sense