Some Tips for Launching a Successful Home-Based Business

There are two common misconceptions about home-based businesses: it is uncommon, and it is not a “real” business. Numbers say otherwise, though.  

 

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In the U.S. alone, there are nearly 40 million home-based entrepreneurs who either work from home or sell online.  And surveys show that these businesses generate big bucks and have long-term potential – the sector has a total annual revenue of $427 billion and 70 percent of them are successful within three years of establishment.

Those who plan on starting a home-based business should follow these tips to increase the likelihood of achieving success:

· Be organized. Running an own business without a supervisor can sometimes result in a lack of planning or procrastination – especially with many hindrances or distractions at home. Creating a long- and short-term plan (and following it) and structuring daily tasks are necessary to keep the business running smoothly.

· Look for free or low-cost services. Use services that are not financially crippling to reduce expenses. For example, there are accounting and productivity apps that can be downloaded for free.

· Prioritize marketing. While cost-cutting is essential in home-based businesses, an area that should be allotted with significant resources is marketing. A quality marketing campaign can result to a wider customer base and increased revenues.

 

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Brian Dougherty and his wife, Jenny, find joy in helping other people attain success. Through their company, Dougherty Marketing, they train their clients to develop and grow the successful business they wish to have, including more than 6,000 people who have started their home-based business. Learn more about the couple and their firm here.