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Every home based business needs a plan to be successful. It isn't enough to have a great idea
for a home based business and just hang out your shingle. Which is a something that many home
based business owners learn too late. So even if you aren't going to be borrowing money for your
start up home based business, you still want to take some time to create a thoughtful, realistic
business plan.
The first step in creating a home based business plan is to clearly define your goals. It isn't just a
matter of saying you want to make a certain amount of money in, say, five years or to leave your
competition in the dust. These are certainly lofty goals, but they are vague. You want to define
what your home based business really is at the beginning and where you want it to be. It's a good
to break this into segments. Where do you want your home based business to be in six months?
A year? Eighteen months? Two years? A home based business plan that outlines your
objectives this way gives you a road map to refer to and will ensure you're on the right track and
that you stay there.
Second, you have to know the market potential for your home based business. After all, there has
to be a demand for the product and/or service you are offering or you have no business. If your
home based business is going to provide business cleaning services, for example, you'll want to
be sure that there are companies and offices in your immediate area that need your service. You
will also want to look at surrounding areas for opportunities to grow your home based business in
the future. The amount and type of competition for your service needs to be taken into
consideration too. If your area is already saturated with business cleaning services, you may need
to consider a different service altogether. Without some planning and research, however, you
won't know this in advance, and your home based business won't be as likely to succeed as it
could be.
Next, you want to consider all the costs your home based business will incur. A lot of times when
people work at home at their own home business, they fail to consider the small expenses. Printer
ink, paper, postage, long distance phone calls and cell phone bills are easily missed when
considering the cost of operating a home based business. And these seemingly small amounts
add up in a short amount of time for most business owners. So realistically look at all the costs
involved with owning and operating your home business. This way you'll know how much you
have to bring in to meet expenses and hopefully, to make a profit.
Now you want to think about how you will market your home based business. Again, you can
have the best product and/or service going, but it won't do you any good if you don't market it.
You need a marketing strategy for your home based business, and you need to plan for the costs
involved in making it a reality. You may only be thinking about flyers, circulars and posters to
begin with, but they do cost money to produce. And you need to think about other ways as well.

2. Radio, billboards, direct mail, email, Web advertising are all great ways to promote and market
your product and/or service. It's wise to do some research into what type of marketing tools work
best for your type of home based business and use a combination of offline and online advertising.
You may want to start with more inexpensive marketing methods and work up as you go. To do
this, you'll need to, yes, plan for that. Plan for how much you can spend at the beginning and how
much you want to add to your home based business marketing as it grows--which, with the proper
planning, it will certainly do.
Charles Fuchs
http://www.charlesfuchs.com
[http://www.workathomesociety.com]
I grant permission to publish this article, electronically or in print, as long as the bylines are
included, with a live link, and the article is not changed in any way.
Copyright © 2006, Charles Fuchs, President of Vision Management Enterprise Inc., is an
established online marketer who specializes in helping people start their very own Work at Home
Based Business.
Article Source:
http://EzineArticles.com/?expert=Charles_Fuchs
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For step by step instructions on making money from home
http://tinyurl.com/makemormoney
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