Thursday, April 5, 2007

Developing your plan of attack.

You've decided to start a home based business -
What do you do next?

Like any business you need to create a business plan.

The plan should detail the following questions:

  • What is your budget?
  • What is your goal?
  • What is your timeline?
  • What is your target audience?
  • What is your market strategy?

The biggest question that will impact on your decision plans is your budget.
Be honest with yourself. What can you afford? What are your expectations?

Some work from home opportunities take a month or two to build revenue.
Some take even longer if your commissions are small and your advertising is limited.

Your budget should include:

  • Initial Investment
  • Resources (Products/Back Office/Etc.)
  • Advertising

Your goals should include both short-term and long-term.

Your timeline should include:

  • Hours per week to dedicate.
  • Set date for short-term goal.
  • Set dates to implement advertising methods.
  • Set date to evaluate ROI.
  • Set date for long-term goal.

Your target audience needs to be determined in order to implement your market strategy.

Your market strategy is the final but second most important question to answer.
This strategy will determine the success of your at home business.

There are many methods to use in a market strategy.
Use several and BE CREATIVE!

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