Even in this difficult economy, a full or part-time home-based business can still bring home the bacon. Here are a few reasons why:
It’s the Economy, Stupid
No, I’m not trying to insult you here. Fact is, these trying economic times have often opened doors of opportunity. People are paying attention – and taking action. The stats are impressive. 52% of the roughly 29 million U.S small businesses out there are home-based enterprises, according to the U.S. Small Business Administration Office of Advocacy.
Nationwide, the spotlight is on small business. Federal, state, and local leadership want and need entrepreneurs to succeed. In Los Angeles, City Hall has a newly established Office of Small Business Services. Corporate partner programs like Microsoft’s bizspark.com contribute to small business growth. Thankfully, doing business is getting cheaper too. Firms like Vistaprint, Constant Contact, and Aweber offer affordable marketing solutions.
Success on a Silver Platter
You’ve gotta love the Internet and technology. They work like a hand and glove to nurture your business. SCORE, the non-profit organization dedicated to mentoring small business owners, is still a valuable resource for me. Long before I established my company, I soaked up SCORE.org’s online wisdom. Sites like StickK.com, Meetup.com, MyOwnBusiness.org, and the newly updated Business.gov website can help you stay laser-focused and in the know. Tech savvy companies like LA-based Spot Runner keep your marketing options streamlined and affordable. What a relief.
The Beauty of “Small”
As a small business owner, you’re in a unique position to carve out a niche market. You can happily fuel a passion that makes you want to do back flips and kiss your dog, every day. It’s an edge that puts you heads above your large business competitors. Also, unlike a large corporation, you can be nimble and quick. If a particular strategy isn’t working or you discover your target market is evolving – you’ve got the built-in flexibility to cut costs and change things up overnight. Sure, you’ll need smarts and plenty of tenacity to succeed. But you’ll also add proud notches to your business belt and achieve personal satisfaction for pursuing your dreams.
As Always, Be Strategic
Ready to take the plunge? First, carefully establish the viability of your business. Clearly define how marketable and sellable your product or service is in today’s market. Then, prepare yourself. Enroll in classes to bone up on your skills. Take out a loan and repay it pronto to establish your credit worthiness. Get necessary business licenses and registrations.
Next on the agenda? Write that business plan, even if it’s only a few pages long. SCORE’s Chris Stone noted that your business plan helps you ‘to prove to others” that you are a professional. A business website is another must. Yahoo, weebly, yola, wix, and wordpress all offer free, easy to navigate sites.
You will work hard, no doubt about it. A home-based business based on customer needs, one that directly enhances a firm’s bottom-line, is a business that can grow in any economy. That business might as well be your own. Now is the perfect time.