A one-person home-based business is one of the most difficult start-up experiences entrepreneurs can think of when talking about ventures. Aside from those who have their significant others with children, the single solopreneurs have it bad.
Nobody is there to help them unless they hire people or invite a friend for assistance. Sometimes a lot of customers take advantage by asking for discounts just because it’s a startup. This makes the growth of business even harder.
You’re just in the right place if you face the same situation. These tips will be of great help!
1. Do everything you can to earn profits
Sell products on your front lawn, the flea market, or your day job if it’s possible. Actually, make it possible. If there’s anyone interested in buying your items, sell it to them.
2. Save as much money as you can
Every profit earned must be kept. Don’t use it for your personal use. Save it for operation expansion or growing your inventory.
3. Avoid making excuses and make time instead
Don’t be like other would-be entrepreneurs who say that they can’t run a business because they don’t have time. If you have the weekends free then use those days. Put your phone down or turn off Netflix on TV and work on your business.
4. Expand your product line
Once that you have a lot of sales of a single product, introduce another product. Grow your business’ reputation. Don’t let your small company be known for one item alone.
5. Outsource or delegate work to your family
If you don’t have enough time to take care of other business-related tasks, hire someone to do them for you. Or you can let your partner and kids work with you if they’re old enough.
6. Learn how to market online
Use Facebook, Twitter, or Instagram to advertise your store. Create a website if you have to for a full online shop experience. Have that website be advertised by other sites.
7. Don’t sell yourself short
Know how much your products and services are worth. Don’t allow customers to make outrageous demands such as huge discounts. It might be tempting to give in as a reputation builder, but, remember #1.
8. Get organized
Make every second of your day and every day of your week useful. Make it your goal to finish a solopreneurial task or more daily. Like using gadgets to remind you of schedules, appointments, deadlines, and keeping information.
9. Boost efficiency and productivity
Don’t allow yourself to get easily tired, stressed, or sick. Have self-love by paying attention to your wellbeing and eating healthy meals. Take vitamins and supplements.
10. Hire the right team
When outsourcing your tasks, pick the crew that believes in your brand identity. The right team will go the extra mile to grow a business that shares the same personal values.
11. Negotiate over everything
When getting precursor materials for your products, don’t hesitate to ask for discounts. Even when hiring workers, don’t overcompensate their salary and ask for an affordable yet fair price.
12. Join with other businesses in promoting products
Another way to grow your home-based business is to partner up with other small businesses. Advertise their goods with yours and they’ll do the same for you. If you have friends in the big league, ask them to promote your start-up as well.
13. Expand to another location
Once everyone in your neighborhood or town knows and buys your goods, go on to the next town or city. You can also expand your area of operation by setting up a shop and moving from your home.
14. Target other markets
So for example, when the target market for your exfoliant cream is for teenage females in your neighborhood and all of them buy your product, sell your cream to mothers and other working-class women in the area.
At first, growing a home-based business is hard if you try to do all the tasks yourself. If you know how to share work with your partner and children, it becomes a little easier. Stick to your appointment schedules as they help a lot in keeping your day smoothly running. And always remember, you are the one who asks for discounts, not the customers. Earn every penny you can.
