By Diana Paton
This month The Dural and Round Corner Chamber of Commerce held its first focus group meeting to better understand this growing segment in the market.
Home based businesses offer flexibility, convenience or a great opportunity to start a new career, however like any business you need to be able to answer some questions to see whether you are ready. For example:
• Have you researched to see if your product/service is needed?
• What is my unique selling point, why am I different to others?
• How much are people willing to pay for my product or service?
• How will I market my product/service?
• Have I educated myself on how to run a business?
• Can I make a sufficient income?
If you can answer yes to those questions then making a home based business successful comes down to you and your understanding of the things you are really good at and applying them and what things you need help with from others.
One of the key issues in a home based business is being really good at time management. Every business has some type of process and administration tasks and sometimes they might not be the best use of your time.
Some of these tasks might be undertaken by the use of technology or they could be done by a “virtual assistant” for minimal cost. These are well worth exploring.
Another key issue is power of networking with other home based businesses. It’s always good to learn from the mistakes of others. Joining local community groups and business chambers can lead to new business opportunities, they are great places to learn, they keep you relevant and up to date with new business trends.