Want to start a business from home? No problem! After all, there exists a broad array of digital tools and resources to help get you going. What’s more, you have plenty of company on the remote-work front.
Here’s what you need to know about starting and scaling a business at home.
Scores of would-be entrepreneurs are giving it a go from the comfort of their homes. But some of them worry that scaling their business to success will require a ton of pricey strategies and elaborate maneuvers. Not true. Scaling a business, by the way, basically means getting it ready for unimpeded growth. But pulling it off requires planning, some funding, and the proper systems, team, processes and technology. The following are some tips:
Eschew Product for Service
You want to hit seven figures with your new at-home business? Begin with a service instead of a product. With products, you’ll have to shell out more upfront for overhead. Why? Production, distribution and shipping don’t pay for themselves.
With a service, on the other hand, you do need people. However, most of your work can be accomplished online from … wherever! If you don’t know what service you want to provide, do your homework. Find out which services are pretty much always in demand and may prospectively yield better long-term profits and return on investment.
Scale Outbound Marketing
The next step in starting a business from home is automating your outbound customer engagements and marketing. We’re talking emails, cold calls and paid advertisements and the like. But remember, no matter what you opt to automate it must be scalable.
To link building services like these with possible customers, start by scaling your Insta, LinkedIn and email marketing. After that, forward all messages you get from the automated outbound stretch into a dedicated email inbox that permits you to answer the messages. It won’t be long before you see lots of new messages daily concerning your service.
Know Your Service Inside and Out
No matter how great a person can sing, if they don’t feel or believe what they’re singing, they can’t really “sell” it. So, to be able to sell your service, you need to understand it through and through. You need to know how every aspect of your service works. Once you do, you’ll also know how to competitively price – and scale — what you’re offering.
Gather Your Contractors
Now you must begin the hunt for contractors to handle the hands-on part of your business. Once you’ve become proficient in that yourself – it won’t take long – you should be able to train someone else to take over. Once you’ve put that in place, you should have gained a good grasp on your sales process.
As your business begins growing, you’ll need to gradually add more contractors. You may need someone to deal with your cold email outreach, and ultimately someone to handle your whole sales process.
Create a Sustainable Infrastructure
Now you must develop a structural foundation for your team members to follow. You can start by creating documentation, training courses and modules your team members can turn to. You can, for example, begin using certain kinds of software to facilitate client interaction to help you scale your business.
After that, you’ll begin hiring full-time employees to help you reach at least seven figures in yearly income. Your contractors can ultimately help with training.
Starting and scaling a business at home is more than doable. But you need a plan and a bit of help. Begin pulling it all together today.