7 things to consider with your work-from-home business model
Most importantly, if you are starting a new home-based business, make a plan for all the possibilities and contingencies that may arise.
This will help you reach your goal for the future AND it will also help you if you are trying to obtain financing for your home business.
This important information will really define your home business. There are four basic components of each stage of building a business that must be covered.
A great business plan is presented after the components of each stage of the business have been identified.
Infrastructure is a component of a home business. This infrastructure contains the core skills and competencies required to run your company’s business model.
The network of partners would be the commercial alliances that you have that will complement other aspects of the business plan.
You also have to take into account the value setting, which you’ll want to explain in detail. How your business is indeed beneficial to both of you, as well as your customers.
The value proposition for your home business plan will describe the products and services that your business will offer for sale in your marketing efforts.
In other words, the value proposition is what your customer gets what they pay for.
A customer can and will determine the value of a business based on these two general elements, what their customers are buying versus what they are paying.
It is the sales and marketing efforts of the sellers that deliver that value proposition to the customer / buyer.
The next consideration is the customers. It is extremely important that you are clear about who your target customers are. You should be able to describe your client, male or female, income range, age, interests, etc.
If you look at Facebook advertising, they have a lot of information about the ‘audience’, who would be looking for what you have.
Therefore, you must clearly define your target audience, for the products and services that your company provides to your potential audience / customers.
The distribution channel portion of your plan describes how your business will deliver goods and services to your customers.
This distribution channel could be very simple, such as simply delivering your products through the postal service, to a major transportation company that handles your products throughout the country.
Finally, there is your relationship with your customer. How you plan to build that relationship will be a central key in your business plan.
There are other areas to address, of course, but I hope this helps you take control of your business from home.
