Another recession may be approaching, and people all over are feeling the heat. Jobs can be tough to find and companies are folding in every state. The economy is not at its strongest, but this does not mean your business will fail. This article will help you when dealing with these rough economic times.
You need to have a personal phone line and a business phone line which are separate. Your business will need a professional recorded message for off-hours as well as a company greeting when you are there to answer. Also, you don’t want to run the risk of other family members picking up the phone when customers call.
Try to go out of your way to make your customers happy and satisfied with your products and services. Think about adding a little extra to their order, or slip a thank you note into the package. When you show someone that you are grateful for their business, they will come back for more. Clients love receiving free merchandise, and feeling appreciated by businesses they have relationships with. Show them that you’ll go above and beyond to keep them happy.
Make sure you let people know if you are out of a certain product. Customers are certain to be upset with you if the products they ordered will take weeks to arrive to them. Let your customers know that a product is back-ordered, and provide alternative choices to your customer as well.
Business Transactions
Make sure you have a separate business account so there are records of business transactions. All your business transactions and expenses should be made through your business account. It is the best way to record the money going in and out of the business. Also, you should only use a credit card that is designated for the business to order supplies or conduct other business transactions.
Offer your different customers special incentives for taking the time to refer friends to your services. The best advertising is of course word of mouth, as everyone values a friend’s recommendation more than marketing materials. And when you reward your customers, you are helping to make them more loyal as well.
Business Card
You should get business cards. You can find business card offers online for free or very cheap. On the business card, have your name, phone number and the business’s name. Don’t forget to include your email and website addresses. Your customers will have an easier time contacting you if you give them multiple channels of communication.
All the expenditures of your business should be accounted for. Include everything that you spend on your business, transportation and ISP service are common examples. When you’re a business owner, you can use many of your business-related expenses as tax deductions. Any little thing related to your business can be considered an expense, and they do add up quickly. Keep tabs on these expenses, so you can deduct them from your taxes, as you don’t gain anything by giving your hard earned money to the government, if you don’t have to.
If you have artistic talent, you can start a business providing graphics design services to local businesses. A variety of nearby companies would rather use a local designer to allow for great service and flexibility. This gives you a leg up on the bigger companies.
Affiliates can be used to help you to market what you’re selling. Connect with other owners of home businesses to trade affiliate links. Join affiliate programs, and choose products that complement what you’re already selling. You can boost your revenues without the need to increase your inventory.
Based Business
Before you start your home based business, calculate the start-up costs. It is important to note that although minimal, business costs are a part of starting a home based business. If you have accurate projections of how much things will cost over the long run, you can price your products in such a way that you don’t lose money.
Ensure your online business won’t interfere with your family’s routine. It may be necessary to adjust your plans if you discover that your intended business is disruptive to your mode of living.
Always deposit as soon as you get the money. Rather than depositing only weekly or monthly, you should aim to deposit on a daily basis or at least once every two days. You are less likely to lose a check if you get it deposited quickly. Don’t rely on ATM machines for your deposits. Putting your money directly into the hands of a teller will ensure that there are less chances for errors.
If your home based business is a daycare, then you may need to hire some help to keep the kids in line. Without sufficient staff, you will have difficulty caring for the children properly and providing for their basic needs, such as making sure they eat, take a nap, behave appropriately and other basic tasks.
Keep in mind that your vacations aren’t tax deductible under your online business but that your business trips are. You can save up to 50% on your meals and other travel expenses if you can document that the trip was for business purposes.
Ask others for advice on how to improve your home business. Everyone has opinions, and some share them very generously. This is a fact of life, so learn to accept them gracefully. You don’t have to agree, though! Allow others to have their opinions, and you have yours. Use both negative and positive feedback to develop your business.
Ensure that the visitors to your site understand how to purchase your products. Announce the stores or websites that carry your products. Giving your website visitors the information they need gives them a good impression of your company and earns their trust.
Do not let these troubled economic times hold you back from following your dreams. An unflappable, can-do spirit is the American way. You might be concerned that your family will not survive. Hopefully this article has given you some helpful tips to help you survive this “Second Great Depression.”
