You don’t need a 100 page Business plan to start one

One page business Plan modified. (1)

The One-page Business Plan Part B

Today I will be concluding the second part of this post, the one-page business plan, if you did not read the first post, you can get it Here .

I hope you have taken time to implement what you have learned.in the first part of this post, writing this post has also helped me to go back to the drawing board to re-tweak my business plan.The link for the one-page business plan is displayed above.

Now to the business of the day, we will be talking about the remaining 3 parts of this plan.

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Free Ebook: From stay at home mom to mompreneur

The Hustle.

How will customers learn about your business: In this area, we talk about your marketing plan, how do you intend to invite customers to your business? one of the key questions you need to ask yourself is where do my customers congregate? This is the reason you must define your target market before setting out. When you know what your target market is, then you can begin to define where they are likely to congregate, thereby targeting your advertising to such places.

For example, my Niche is stay at home moms who want to launch a business, one of  the likely places I will find such women are baby forums, forums where women discuss money making ventures, I might also target my Facebook ads to women in their childbearing age because I know they will more likely be there. Thanks to Facebook targeted advertising features, you can do a lot to find your customers.

How will you encourage referrals: By giving away free samples and asking people to refer others to your business if they liked your product. You can also conduct contests for price points to encourage people to refer a certain number of people to win the price. Finally, you can give discounts for referrals to your point of sale.

Success

How will you rate the success of your Business: This part deals with figures How will you know that your business is successful? is it by the number of customers you have served or by the annual net income you intend to make. These figures will enable you to plan properly on how you intend to achieve it. It will force you to think of ways of dimensioning your resources to ensure you meet your targeted goals whether in customer numbers or in revenue. This part is where you also itemize your income streams and apportion how much you want to make from each stream. A multiple stream income strategy is always the best.

Challenges/ Obstacles; Finally this is the portion where you will write down obstacles that will mitigate against your business and how you intend to overcome them. Listing out your challenges is not to discourage you but to help you become aware of the risks involved in starting your business, and to show you also have a strategy to reduce those risks. Call it your mini risk analysis and you may not be far from the truth.

Proposed solution to your challenges: Here is where you list the steps you intend to take to mitigate such challenges and if possible eliminate it.

Please share this post with your friends if you really learned a lot from it.

Your comments and suggestions are also welcome.

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One Page Business Plan

The One Page Business Plan.

Today I will be talking about the One page Business Plan, a document that will guide you and serve as your reference point in starting a Home Based Business. Most people will say it doesn’t matter, why write a business plan, after all it’s a small business, a home based one at that here is why it matters

Why you need a Business Plan:

-It helps you concretize your ideas and gives a big picture of where you want to go.

-Assists you to itemize what you need to be doing per time.

-The business plan gives you the opportunity to identify who your customers are and how you intend to reach them hence helping you define your niche.

-It gives you an idea of your market size and how many portions of that market you can get, thereby determining your market size.

– Helps you to determine your startup costs and your breakeven point thereby indicating when you start turning a profit.

-Finally, it helps give you a sense of what you expect your income to be and what to price your products.

Having listed the above reasons, here is description of the one-page business plan and what it contains;

Before I go ahead, a disclosure, I got this template from another Blog the 100startup.com by Chris Guillebeau who is the author of the $100 dollar startup a book that chronicles interviews on people who started a business with 100 dollars or less.

I am acknowledging what the owner did by allowing me to download from his site. I will only modify some aspects of the template and use it. Having said that let’s get to it.

The one-page Business Plan is a simple Template that makes it easy for anyone willing to start up a home business to jump right in and start. If you want the template you will get it right after the post series finishes.

The template requires that you write whatever you need in the business plan in two short sentences, it’s like the elevator pitch of your Home Business. It’s often said that if you can’t summarize your business plan to an investor in the time it takes for you to ride an elevator from one floor to another then you haven’t figured out what you should be doing. In other words, cut the crap out and get to the meat of the Matter.

The one-page business plan is divided into 5 different parts namely: The overview, Ka-ching, hustle, success and obstacles/ challenges. I will start by treating the first 2 in this post, in my next post I will deal with the remaining 3.

Continue reading “One Page Business Plan”

Be your Own Boss, Start a Home Business.

How to start a Home Business
Work at Home Mom

Start A Home Business Today

Are you a mom that seeks to work from home? you agonize over leaving your little ones when going to work, or you wish you could be there for them as you see the years go by and you know they will soon leave home. You want to be there for the things that matter to them, then it’s time to make that decision of starting a Home Business.

At some point or another, you may have considered starting your own home business. Who among us wouldn’t love to be their own boss, set their own hours, and work out of the comfort of their own home? The next question is

How Lucrative is working from Home?

Working from home as a mother can be very lucrative. There are many advantages to starting a home-based business. Maybe you’ve thought of some of them already. You may already realize all the different ways you can experience freedom as a work at home mom (WAHM). Here are reasons why you should take that leap.

Advantages of starting a Home Business.

  • Time Freedom – You make your own hours when you work for yourself. Even if you choose a work at home job you are usually able to set your schedule around your family’s schedule.
  • Place Freedom –You get to work where you want to. Whether it’s in the yard, your home office or at the kitchen table (or your client’s location) you only have to do the work you love.
  • Stress Freedom – You can eliminate a lot of stress when you have more balance in your life. If you choose a work from home business model that works best for your family you won’t be as stressed as when you’re trying to work around other people’s schedules.
  • Money Freedom – When you work for yourself on your own terms you can literally earn unlimited amounts of money. Many work at home moms earn six figures and even more than that. Pick the right path and you can be there too.

Before you decide to set out, here are some points you should put into consideration.

A) Explore the business type that appeals to you: Explore the type of business which would appeal to you most. Assess your goals, interests, and capabilities. The most important aspect is that you must enjoy what you are doing day in and day out. Successful entrepreneurs are the ones who feel passionate about the business they own. An entrepreneur cannot feel passionate and driven to success if they do not enjoy what they do.

B) Have a Marketing Strategy: No matter what type of home business you start, you must have a marketing plan ready to put into action. Almost every business today requires a relationship with the internet, and there are many marketing packages available on the internet as well as through local and national media. A successful business is never without a successful marketing strategy. Here are some tips for marketing your business.

Tips for Marketing your Home Business

  • Have a Website: For any type of business these day’s, a web presence is a must, how else will people know where to get your products easily. It may be a simple blog where you showcase your products and services. You can’t miss it by doing so. If you must have a blog then consider hosting with Jvzoo host, they charge you little for hosting per month and do not require you to pay yearly subscription upfront. Here is there link: Sign up now for hosting!
  • Build an Email List: Write your way to a home-based business. If you enjoy writing and have plenty to say concerning your product consider building an email list where you communicate with your customers daily. As you consistently communicate with them through writing you build loyalty and trust which culminates into a repeated purchase.
  • Your Signature Line: Take advantage of the signature line in your email program and make sure it includes the link to your website. This simple act can generate numerous sales. All email correspondence with customers should include this link so that they can easily find their way back to your website to purchase more product.
  • Friends and Family First: Just starting your home business? make contact with your friends and family to let them know what you are doing. Word of mouth can be very powerful, so simply letting them know of your plans is helpful. Consider offering them a discount on your product to get them motivated to purchase something.
  • Join an online Forum for your Business:  Gather information on running a home business by joining an online forum on the topic. This way, you can connect with other home business owners and converse about your situations. Many people who work from home will have the same issues and problems as you, so you can share solutions.
  • Free Samples: Promote your home business by offering a coupon for a free sample or a discount for your services. People are attracted to free offers, so this is a good way to bring in new customers. People are more willing to try a new business if they do not have to risk their own money to try it.
  • Social Media is a Must: Utilize social networking to the best of your abilities especially for a home based business where you hardly have time to go out and market your products. If you aren’t using social networking within your home business, you are losing out on a great communication method that is used by countless businesses today to gain customers. Social networking improves your communication, visibility, and even your reputation within the target group you have chosen.

With these few tips, you already have the information you need to start that home-based business, so go ahead, Take action.

Thanks.

10 Tips to make your Home business effective

How to be an effective Home business owner
10 tips to be effective in Business

The Effective Home Business.

Home-based businesses can be ideal if they are set up and maintained properly. The following are a set of tips to de-mystify the process of setting up a home business and running it smoothly.

-Scheduling is a Must: Even though you are working at home, it is important that you establish a proper business schedule, by making a proper schedule and sticking to it you are showing others that you are serious about what you are doing. It also shows them that you can be reliable and dependable.

-Set your work time:  Reduce distractions by keeping your office off-limits to your kids. Have set work hours that enable you to run your business and still have time for your family. Older children should understand not to disturb you while you are working. For your business to succeed your family needs to be supportive and respectful of your work schedule.

-Content is king:  People will keep coming to your website repeatedly when you have valuable content that solves their problems, therefore, you cannot afford to have a site that is not valuable. Your content drives traffic to your website which inevitably leads to more sales. If you are not so good at creating content, then you can use this valuable resource in Contentmart to create your content :find people to write content for their websites


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-Index your Website Properly:  Give your website address to as many search engines as possible, even the small, unknown ones. You want to do everything you can to increase the likelihood that a potential client will come across your site. This step does not take long and could have positive results for you in the future. An example of a good plugin that helps you index a new website is Google XML sitemaps, All in one SEO pack and Yoast SEO, they are plugins that help your site become more visible on the net and enables your page to perform better.

Just in case you are using WordPress for your site, here are some exciting plugins you don’t want to miss WordPress estore Plugin, WP Affiliate Program, WP PDF Stamper Plugin.

-Promotion is key: Promote your home business by running a contest on your website. It will attract potential customers to your page and possibly result in new sales. Get the word out about your promotion by advertising on social media sites, contest boards, ezines and search engines. The return you receive, will be well worth the extra effort involved. A word of caution here though, do not make it a habit as you will end up attracting people who are only interested in winning the prices for the contest and not what you have to say.

-The Magic word is Free: Use your website to advertise a free product for visitors. This will increase traffic to your site and give potential customers the ability to sample your product. Although it may cost a little money, in the beginning, you should make up for it in sales from impressed new customers. Freebies are the easiest way to collect people’s email addresses which you can use in selling products to them later or market affiliate products to them.

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Guanabana Handmade from abc Carpet and home

-Affiliates Increase your sales: Join an affiliate program and sell your products through them as well. You can search online to find several that will meet your needs. This allows your home business to exchange affiliate links and reach a broader customer base, leading to increased sales for your product. It is quick and easy to sign up. Some examples of such affiliate companies are Clickbank, Jvzoo, Rakuten Linkshare, Viglink, Izea, to mention but a few.

-Tax Matters: Consult a tax professional who is experienced in dealing with your type and size of business. There are several different tax requirements for different businesses, and there could very well be special statuses and credits given for your type of business. Remember also that you will always need someone to help with your tax filing click here to get an online tax filing service:Start Filing Your Taxes – Here

-Organization is Key: Keep everything as organized as possible to make it easier for you to keep your bills paid on time and your customers happy. Find a place with few distractions that you can dedicate to only your home business supplies. It will make the time that you spend working more efficient.

-Research is Key: There is no such thing as doing too much reading up and researching on how to make a home based business successful. So much needs to be in place and well managed before a home-based business is even a possibility. The rewards will be well worth the extra effort. One of the best advice I can give is to look up the influencers in your business niche and follow them, you can learn quite a lot from their mistakes and also from their success, thereby speeding up your own success.

 

 

Power To Convince your Target market.

 

How to convince skeptics of your business idea
10 ways to convince people about your business idea

Hello, thank you for keeping faith with this blog series: the mompreneur a home business owner with a difference, I do hope that you have been having a great time reading it. If you have missed the series, you can get it here. In the concluding part of this series, we will be talking about Power to convince.

 The first thought that comes to mind when you think about the word convince will be; convince who? There are two key people that require conviction before you can succeed as a mompreneur

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ABC Carpet & Home

 

Yourself: As a stay at home mom who wants to transition to a business person, you will definitely have self-doubts as to whether you can pull it off. The first person that needs to be convinced of your ability is yourself, your self-conviction will power your ability to convince others.

-Your target market: These are people who will buy into whatever idea you decide to build your business around. When you are able to convince these set of people you are well on your way to making sales.

The big question that will come to your mind will be; do I have what it takes to convince my target market? You unequivocally do, because that’s what you do every day at home. For instance you

-Convince your kids that you have their best interests at heart, therefore, you are making the right decision for them.

-Persuade your hubby to buy into an idea you want to execute so that you can all work together as a family.

-Convince your partners in executing a project to trust your ability to deliver when called to.

-If you have worked before, you had to convince your employer that you were the best person for the job.

With all these in place, you have what it takes, now let’s talk about ways to go about it.

10 Practical steps to build Conviction about your business Idea

-Show practical steps on how it works.

-Highlight the problems that your idea will solve

-Start by giving free trials to friends and family and ask them to share with their friends if they like it.

-Be willing to listen to sincere criticisms about it and use their constructive advice to improve on what you already have.

-Build followership based on your personal credibility as a person then begin selling products to your captive market. This is the type of strategy that affiliate marketers use all the time, it’s a proven technique that people will only buy from whom they trust.

Women clothing dress
Women’s flare dress

-Find a competitor product and compare the functionalities, highlighting what value that your idea brings that was not there before.

-Be excited about the prospect of starting a new venture, excitement often stems from passion and gives you the energy to keep going.

-Frame the idea you have from the perspective of the solution seeker.

-When your conviction is in place, it’s easy to sell your ideas, people can smell a phony from afar.

-Be bold enough to start with your closest friends, they will give your sincere advice that will pay off.

Thank you for keeping faith with this post series, I hope you have gotten meaningful ideas on why you qualify to become a mompreneur.

Today is the day for action, so start with taking a step towards realizing your dreams.

 

PS: Watch out for my next post, 10 Tips to make your home business effective, do not miss it.