How to Expand Your Business Outside of the Home
Tue, 07/01/2014 - 12:22pm | by jennaleesmith1
Launching a home-based business can be a thrilling experience that unlocks limitless potential to choose your destiny; you become the boss, you’re in control of your income, and you’re the one putting everything on the line.
The entrepreneurial spark grows wildly in those that chase their passions. Choosing to start a business from home creates a perfect environment to give it your all. You will see success if you push hard enough, in due time.
However, there will be a point, with success, when the confines of your home can no longer house your business – in fact, it starts to get in the way. Limiting yourself to operating out of the home will set a glass ceiling on your activities, so it’s vital that you begin researching the strategies to allow your business to grow, organically.
The following are three different methods to grow your home-based business and allow it to reach the next level of success.
1. Explore External Distribution
The sale of physical products can come to a stand-still if you’re limited by the amount of space to stock shelves and process orders. There is always an option to begin renting an office to work from but adding this huge cost might be out of the budget.
Instead, you should consider warehousing and distribution services that allow you to expand without the heavy costs associated with maintaining your own stock. Services provided by companies in the warehousing and distribution industry give you the opportunity to stock their shelves with your products.
With these services come three great benefits:
· You aren’t overloading your home with products
· You can use their tools to track inventory
· They can help ship the products
Essentially, you can take your products and expand beyond the local circuit. You can leverage these business services to go national (or even global). Local distribution may provide a healthy profit, but imagine what’s possible once you bring your business to that next level of distribution!
2. Get Online
A website becomes a global portal to share your products, ideas, and opinions. There is no better way to expand your business than getting online because it’s inexpensive and effective.
The cost for starting a website comes at a very attractive budget:
· Domain name (about $10 a year)
· Website hosting (about $15 a month)
· Website theme (about $30 - $50)
The rest is how much time you’re willing to devote to the site.
Time will be your greatest asset because you can keep the development in-house instead of paying freelancers or other developers.
The items you’d need to handle include:
· Writing website content
· Being active on social media
· Advertising and other marketing methods
· Sales and customer support
There is one element you would most likely want to hand over to a developer, and that’s setting up the shopping cart. The cost for this will be relative to your budget but you can find developers scattered all over the world for your needs.
Once everything is online (and tested) you can begin processing orders through your website – from there it’s a matter of online growth.
3. Hire Local Affiliates
Working from the local level can be immensely rewarding:
· You get to know people within your community
· You can attend local events to promote your product
· You can hold meet ups and workshops for your business
· You can re-invest in other businesses in your area to improve the job market
One particular rewarding action comes through the hiring of local affiliates.
These individuals are sales representatives; they’re the ones that are out there on the streets sharing you product and helping you grow sales. You can begin finding these individuals from your circle of friends and family – from there, it’s handing over the right tools and resources to others within this extended circle.
Offer the locals some form of incentive for referring your business, such as a coupon or a portion of the sale, and you will see your growth spread like wildfire (especially if you have a great product) through word-of-mouth. Your circle of connections will become your sales force, which helps you save on high-cost advertising and marketing fees; instead, the money goes to the passionate community members so it’s a win/win scenario for everyone involved!
Your business is your golden ticket to financial freedom. There is a lot on the line but it’s oh so worth it if it’s something you enjoy. These were three strategies for helping you expand from the confines of the home – now take action and get to that next level!