There are many people who have considered the possibilities that come along with beginning a home based business. The ability to work your own hours and be your own boss is excellent. However, moving from this hope to a functional home business is another story.
If you need to “wine and dine” your clients, make sure that you deduct the cost of these meetings during tax time. These types of meetings you can record as business expenses. Always make sure that you are only writing off meetings that are with actual clients, or individuals that you are hoping will become clients, because other meals and entertainment opportunities are not tax-deductible.
Be prepared to describe your business in a nutshell. You can impress potential clients if you are able to describe your business in a few short sentences. A brief statement of your business function may be the basis of a catchy slogan too.
If your online business is your main source of income, make sure you have some sort of back-up plan in the event that things don’t go as planned. This back-up plan will help in the event that something goes wrong, for example a shipment not arriving on time or your site crashing. You will not get caught short if you are prepared.
Always go out of your way to make your customers happy. Toss a little gift in with their order, or write a personal thank-you note to show your appreciation. People love little gifts that make them feel special. The more appreciated they feel, the more likely they will choose to spend their hard earned money with you.
If you are selling a product that you make, be absolutely sure that you know how much it is costing you to create, because you do not want to be losing money. Two times the cost price is the basic mark-up for wholesale. Standard retail price will be twice the cost of wholesale. Your price-point should work for your customers and you.
Create a schedule for both your personal and professional time and stick to the times. Determine an ending time for each workday. It is important to set aside time for yourself, your family, and your friends.
As you can see, it will require a little bit of work and dedication to make the jump. If you can manage to pull through and stick to the plan, you will be able to accurately represent your dream in the company’s image and create something that is long-lasting and profitable over the years.
