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Career, Job, Employment Information10 Money-Saving Tips for House Businesses
by:
Lesley Spencer
by Lesley Spencer, MSc; Founder & President HBWM.com Inc.
One of the most common obstacles many a home-based working moms face is trying to start or run a new business on a limited budget. The 1st few years
of a business are commonly the hardest financially. Several moms leave full-time
careers and substantial salaries to start a new business. Others start a
home business as stay-at-home moms wanting additional financial gain
to support
their family as well as a professional outlet to balance their diaper-changing days.
In either case, starting and running a home-based business takes money. How more money, will depend part
on you and the type of business you choose to run.
Below are our top 10 tips to save you and your house business money:
1. Do your own market research by talking to potential clients or
customers. Many a new house business owners skip this step only to come
back to it later (or will they had). Those who start businesses without doing
any type of research risk the possibility that their target market doesn't need or want their particular product or service. The competition may be too fierce. There may not be enough potential customers to keep the
business. Or the product isn't priced correctly. It is simply as important not to cost your product too low as it is not to cost it too high. Talk to others
in similar businesses as yours to see how more they charge and what they offer for that price.
2. Team up with different non-competitive businesses that target the
same market to do several co-marketing. For example, desktop publishers and
print shops can do a direct mail campaign together advertising several of their services or buy an ad in a local publication and split the costs. Neither is in competition with the other. They as well can hand out business cards or flyers for one another as well as give word-of-mouth referrals. It's a
great way to double one's marketing efforts patch cacophonic any advertising
costs.
3. Once
you have a satisfied customer, don't be afraid to ask for referrals. Folk like to help others especially new businesses trying to succeed. Show pride in your activity and folk are sure to notice. And once
they do, ask if they cognize any others you can send a book or sample to. Another great way to encourage referrals is to offer a discount or special offer for any customers who are referred to you.
4. Barter or trade your services for different products or services
you need. Associations and organizations are not only great places to network; they are as well great for finding businesses that offer services and products you need. Look for businesses you could help with your product or service and offer to barter or trade for theirs. (Be sure to check with your tax professional for tax issues involving bartering and trading.). Diana Ennen of Virtual Word Publishing(http://www.virtualwordpublishing.com) has found bartering her virtual assisting employment has allowed her to get web design activity done, PR activity out, proofing of assignments and more more. It's a win/win for all.
5. Find another home-based working mom to swap aid with. All home-based working moms need several dedicated time to activity on their business tasks. By swapping with another mom, several can activity on their businesses without adding to their service
costs.
6. Once
purchase
new office equipment, go to a place that offers a low-price guarantee. You can save time and money by purchasing
at places that will refund any difference in cost if you find the product cheaper elsewhere.
7. If you are looking for computer equipment, consider purchase
used
equipment. Look in the classifieds and talk to others that may cognize being looking to upgrade. Ask for assurance information and do sure the machine is in nice working condition. As well take a look at the computer companies offering refurbished machines. Several are priced consequently
and commonly move with several type of warranty.
8. Send postcards for direct mail solicitation. They are cheaper to print and less costly to mail. Another advantage is that they are more likely to be see since they take no effort to open.
9. If you hire sales help, pay by commission only so you only spend money if you do money. A employee
can increase your sales without adding any up-front fees or salaries.
10. Use pre-printed design papers for letterhead, brochures and business
cards if you only need a small amount. The papers can be found at most large office supply stores, and they are great for new businesses trying to get started on a small budget.
These money-saving ideas should help with your budget but new business
owners as well need plenty of driving and determination to succeed. It takes
time to develop and grow a business so be patient and give it all you've got!
Just about the Author
Lesley Philosopher is founder and president of the HBWM.com Network
which includes: HBMW, http://www.WorkAtHomeKit.com, http://www.edirectoryofhomebasedcareers.com,
http://www.momsworkathomesite.com, http://www.HBWMconferences.com,
http://www.HBWMcanada.com and http://www.HireMyMom.com (coming soon!).
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