If you’re thinking of starting a home business, or you already have one and want to ensure that you’re heading in the right direction, the following 5 pointers can help you.
1. Figure Out Your Plan For Social Media
You probably know just how important social media is for businesses these days. Your social media presence is crucial if you’re going to market and grow your home startup. However, juggling all of the big networks is a full-time job by itself, which is why social media managers and teams now reside in many companies.
If you waste too much of your own time on social media, you’re not going to see results because you’ll be neglecting your business. It’s as simple as that. Try putting a solid plan in place before getting started on social media so you don’t get sidetracked.
Some people don’t even think that social media will help their business. It can depend on the business of course, but if this is the case for you, skip it for now. Just know that if your business suits social media, you’re missing out if you’re not on there.
Managing all of your accounts at once with a social media management tool is a good idea. Decide whether you want to sign up to a monthly or yearly package and figure out what your budget is.
Choosing a single channel, in the beginning, could be a better idea if you’re short on time and want to make sure you keep your focus. You don’t want numerous social media channels to end up killing your business focus.
2. Work With Influencers
On the subject of social media: influencers. Working with people like YouTubers, bloggers, and Instagram celebrities can help you to spread the message of your brand far and wide. However, there are some pointers to be aware of before you go reaching out to influencers:
- Most influencers won’t write about you or advertise your product for free. You may need to offer them compensation, especially if they have a large following and are well established.
- They must disclose that it is an ad.
- They might not like your product, in which case they do not have to write about it, or can write about it but will be honest with their readership.
- Choosing influencers that suit your brand image is imperative.
If you happen to come across somebody who may suit your startup, add them to a list. You can then set aside a small amount of time each week to reach out to them and see if they would be up for collaborating with you in some way.
Just remember, they probably get many suggestions like this, so don’t ask for something for nothing. They are doing you a favor, not the other way around!
3. Never Stop Learning
As the owner of your home startup, you must vow to never stop learning. If you want your business to grow, then you have to grow, too. Seek out stories from people who have done what you’re trying to do. See if anybody in the industry is willing to give you some advice.
Look at articles and books, but remember that they can only tell you so much about starting a business, and you’ll do well to focus on having your own experiences. You could even choose to better yourself by looking into the Aston University MBA program.
There are so many ways you can work on yourself and become a better business owner, so make sure you vow to do this consistently. Some of the most successful business owners in the world spend around 5 hours a week working on themselves.
4. Get Creative With Pricing
You’re going to need to be creative and competitive with your pricing. If you’re a new business owner who is still trying to establish themselves in the industry, offering performance or quality based pricing can give clients a bigger incentive to buy.
If you’re willing to be innovative with your pricing model and structure it should be based on performance, people will be more likely to sign up with you in the beginning. People won’t have anything to lose if you don’t get them the results promised.
5. Measure And Track Your Results Accurately
If you can’t measure your results, then you’re not going to be able to manage them. Examining the right metrics helps you to ensure you’re going in the right direction. Look at ways to improve your results and you stay accountable for the results that you’re getting.
You must ensure that you define your growth metrics and measure them constantly. Customer acquisition without a clear set of objectives is just a random activity. Remember that! Know what your KPI’s will be from the beginning – your Key Performance Indicators.
A minimal set of KPI’s is something you’ll track and report every day. You should keep a note of everything, but only focus on what’s truly important. Make sure you focus only on what has a direct impact on your company performance and choose the one thing you want to focus on over all else. This will help you to keep your focus, as we discussed earlier on.
There you have it: the top 5 ways to grow your home startup.
By using these ideas, you’ll be able to;
- Create a strong online presence
- Market your business effectively
- Improve yourself in both professional and personal circumstances
- Set the best pricing structure
- Measure your results