by Dr.Kevin Nunley
http://www.DrNunley.comThis is a great time to start your own business, even if you have
never thought of yourself as an entrepreneur.
The economy is
getting tighter, may companies are laying people off, and a
paycheck doesn't go as far as it used to.
Meanwhile,
Internet sales and mail order are booming. We're also
seeing record numbers of new home-based businesses starting and
succeeding.
Getting in on this trend now could be the smartest
thing you do in the year ahead.
Here are some common sense tips
to help you pick the right
business, get off on a good foot, and succeed over the long haul.
Choosing Your Business
One
of the reasons a great many businesses fail is the owner
jumped off into a field they didn't know much about. Your best
bet
is to choose a business you have worked in as an employee.
Otherwise, plan to spend time researching the topic in libraries
and
in conversations with people who are already in your chosen
industry.
Keep expenses down to a bare minimum in the
beginning. More than
a few new start-ups blow their cash on a big office, fine
furnishings, and new computers. I started
my business years ago
from a spare bedroom. A writer friend realized her apartment was
too small to house her business
and rented an unused room in a
nearby office.
Plan on running your business part-time for the first year while
you
keep a regular job. This may seem like the slow way to get
your project going, but a regular paycheck will ensure you have
plenty
of time to give your business its best shot at succeeding.
Nothing torpedoes a new business like expecting it to profit
huge
amounts of cash within the first six months.
The easiest and cheapest business to start is a service you can
provide
to other businesses. You may need little more than an
email address and a telephone number to get the ball rolling.
If
you worked in accounts receivable for several years, help
businesses outsource their bookkeeping chores. A woman in my
town
turned her 20 years of office experience into a thriving home-
based business by offering to help small businesses
straighten
out their books. She placed ads in the neighborhood newspaper and
arranged to be interviewed for an article.
Internet
referral programs and mail order are two industries that
are booming, easy to get into, and, while they may not make you
rich,
are a good way to get started in your own business. Many
networking and reseller firms have changed their strategy from
"bug
your friends" to "network on the Net." These can be great
ways to get experience selling established products in an
organization
set up to encourage home-based business. Look for an
opportunity that has been in business for at least three years.
Market
in Many Ways
The key to your business success will likely be your ability to
market your products and services.
Without marketing, nothing
sells. It helps if you set up your business from the beginning
with marketing in mind.
Your
business should give you the opportunity to promote in
several ways:
1) Use a web component. The Internet lets you
reach thousands of
targeted prospects at the cheapest price in advertising history.
Put up your own web site. Fill it
with good information, answers
to the kinds of questions your customers and prospects ask. Build
your own opt-in email
list to stay in touch with customers.
Nothing works as well or as cheaply to build your reputation.
Work to get
your site listed on the major search engines. The top
2% of businesses on search engines account for about 90% of the
Net's
money-making sites. Advertise your business in ezines that
reach your best prospects. Some newsletters let you reach tends
of
thousands of potential customers for $30 to $40.
2) Your business should also take advantage of face-to-face
marketing.
When you talk to people in person, it is harder for
them to walk away without buying. One man, an excellent sales
person
who closes more than 90% of all sales, simply strikes up a
conversation with people. Near the end of the conversation he
will
mention his offer. People almost always buy.
3) For all that has been said about the Internet, the good old
telephone
is still the center of our business world. When you
spend time talking with someone on the phone, you build a
personal
bond with them that often leads to a sale.
Before you get on the phone with a prospect or customer, quickly
jot
down what you hope to accomplish with the call. Don't let
more than two or three minutes of conversation go by without
making
an effort to achieve your goal. This organized approach
will help you stay away from long days on the phone without much
to
show for it.
Be Determined
It doesn't matter what business you are in, there will be days
when you feel like
you are spinning your wheels. Realize that for
every up trend there will eventually be a down trend. When sales
are
slow or customers are difficult, remind yourself that a
turnaround for the best is always just beyond the bend.
Much
of business success has to do with simply showing up for
work every day. When people see you or hear about you month after
month,
then year after year, your consistent presence builds
customer confidence. Confidence turns into loyalty. Repeat
customers
and good word of mouth will insure you get repeat sales
for as long as you own your business.
Kevin Nunley provides
marketing advice and copy writing for
businesses and organizations. Read all his money-saving marketing
tips at
http://DrNunley.com/. Reach him at
kevin@drnunley.com or
603-249-9519.
