Starting a work at home business is the same as starting any other business. Good business practices will build customer confidence, truthful advertising improves profits, top quality products at a fair prices improve sales, and networking improves stability. However, there are some important differences, and some substantial benefits, to a work at home business.
LITTLE INVESTMENT
A home based business can easily be started for less than $100 in the first year. However, the amount of time and money invested will be in a direct correlation to the speed that you start earning wealth. Many small businesses that invest $1000 into start up, or invest poorly, take 3 – 5 years to start earning money.
Knowing the right way to run an online business, and avoiding the scams, is the most important ‘secret of success.’ A business with small investment into a web based community, and articles aimed at helping their visitors, and then spends time and money creating a network across the web, will start earning a profit before someone who sets up a static site and ‘waits for something to happen.’
JACK OF ALL TRADES
A work at home business person must be a jack of all trades. They must have multiple skills in different areas. Most of these are easy to learn. It’s not enough to have a good product, or be able to provide a great service at a great price. An internet based business requires the following skills: graphic arts, web technology, basic web programming, marketing, writing, and bookkeeping.
This is not the type of business for someone who is afraid of technology. Make a list of the skills needed. Then check off which ones you can do, and which you need to outsource to others.
ENDLESS MARKETING OPPORTUNITIES
The Internet offers unlimited methods of marketing. It can take years to learn how to use them all effectively. Internet marketing falls into different categories.
Cooperative relationships, enable businesses to share resources, server loads, marketing, and even human resources.
Communities let Internet businesses create a fan base and keep their potential customers hooked. Workshops and education tools let businesses pre-sell customers, and educate people on the products, services, and how to use them properly.
Blogs and newspapers are a source of generating content, and attracting potential buyers.
Content management systems, blogs, and lenses build credibility.
TRACEABLE RESULTS
Unlike a brick-and-mortar businesses, the net has built in tracking tools. It is fairly easy for web based businesses to find out who is visiting, how long they stay, why they visit, and who buys. This lets the business analyse visitor preferences and improve their promotion efforts.
INTERNATIONAL AUDIENCE
All internet businesses are international by default. This is good, and bad for internet businesses. It makes it important to remember that different societies operate in different methods. Working with companies such as Amazon and eBay will make it easier to ship products. The amount of non-English business is increasing dramatically in the past years. Soon, businesses will start needing to hire translators.
PROFESSIONAL BRANDING
Leave a website and the odds of ever finding it again are astronomical. That is why it is important to consider branding. Colors, fonts, text, layout, images will all brand a company. Lenses will also help people ‘find the business’s website again.’ Myspace, squido, bebo, gather, forums and other lenses include a built in tracking, my friends, and book marking tools.
These benefits increase the chances of turning a work at home venture into a viable, successful business.
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