scaling a home-based business
TRANSCRIPT
There are all sorts of homepreneurs. You have homepreneurs that are just making a secondary income to help
support the family.
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You have the dabblers or the hobbyists (mainly working for
shopping money), then you have the people who are designing a full scale
and profitable business.
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I’ve built a full scale home-based business completely by design and I
have absolutely zero intentions of taking this business outside my
home.
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I love the commute of exactly 18 steps to my office. I also love the
fact that I can wear whatever I want!
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One of the largest obstacles for any homepreneur is time.
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When homepreneurs enroll in my coaching program this is one of the first things we talk about. Time can
make or break you.
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First we decide how much money they want to make in their business. So for
example if you want to make $100K per year that means you want to make
$8333.33 per month, $2083.33 per week and $52.08 per hour.
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How many clients or customers does $8333.33 per month
represent? How much time will it take to get them?
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The idea is to decide exactly how much money you want to make in
your business then design a plan that makes that come to fruition.
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If you design a solid plan that’s goal oriented getting clients is actually the easy part. Where things get hard is when it comes down to scaling a
business.
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I’ve seen people experience a small amount of success and suddenly
they go out and rent a loft office, hire a few employees and get the fancy
car they’ve always wanted.
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Guess what? They come upon hard times and then they’re maxing out
their credit cards just to pay the rent. If you only knew the horror I’ve
witnessed first hand!
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One thing I love about being the experience I’ve gained as a
homepreneur is I’ve learned to scale and grow a business by design.
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I determine exactly how much my business grows and within what time
frame I want it to happen in.
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Then I design a system to fit the growth. You won’t catch me running around like a crazy person and all
stressed out in my business!
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So when it comes to scaling my home-based business:
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- I decided how many clients I wanted based on how much
money I wanted to make.
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- I designed a plan to attain those clients.
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- I designed a system that managed them well and
streamlined the workflow.
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I didn’t attempt growth until the process that I designed to handle my
clients started feeling like it was flexible enough to include more
workflow.
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When I decided it was time to let a few more clients into my
practice:
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- I decided how many clients based on how much of a revenue
increase I wanted.
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- I carefully cherry-picked the potential clients I wanted to reach
out to.
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When I attained the additional clients I wanted, I then re-
adjusted my system to streamline workflow.
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I didn’t bring in new clients to fit the old system. I designed a new
system to accommodate more clients.
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This is where many people screw up! They get too many clients and their
system doesn’t fit anymore then they struggle and their quality of work
goes down.
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Guess what? Yes, they end up losing those clients.
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How much money do you want to make in your home-based business?
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How many clients/customers does that represent?
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What will your system be to manage those clients well so that you do a
great job in servicing them?
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If you’re ready to grow how will you scale your system to manage the
new clients that you bring in?
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If you need some help picking a niche market I just launched a new
training product that will tell you how to make that choice step-by-step. It’s
absolutely FREE. Click here to check it out.
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Visit my website for more entrepreneur training courses.
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If you’re bootstrapping a business and need a roadmap look up my
book, Yanking Bootstraps, on
Amazon! It’s a short but powerful read that will give you strategies
to use right away in your business.
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Connect with me!Twitter -@thawkbridgesFacebook - www.facebook.com/TammyHawkBridges
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I hope you found this slideshow helpful in your business please visit me at perfectmarketingequation.com for marketing training and educational information for entrepreneurs.
Tammy Hawk-Bridges is an author, entrepreneur mentor and marketing strategist. She provides education and marketing training for entrepreneurs. Connect with her on Twitter @thawkbridges.