How To Start A Small Business At Home

How To Start A Small Business At Home

Amazon

There are a lot of things that you can do if you want to start a successful small business from home and here are some main key points you need to keep in mind:

1. Establish your product or service.
2. Have your own separate work space.
3. Set up a merchant account or a PayPal account.

Watch and Enjoy!
Marianne DeNovellis

Find out more here: http://6figuremastermind.com

========================
Video by Nate Woodbury
BeTheHeroStudios.com
http://YouTube.com/NateWoodburyHero

#SixFigureMastermind
So you want to work from home and you
want to be successful at it, how do we
start a small business from home? That’s
what we’re here to discuss today right
here on the Six Figure Mastermind. Stay
tuned.
So maybe you’re like me and you’ve been
staying at home and you’re looking for a
way to add value to your personal
economy. You want to just start a
business from home. There’s a lot of
different things you can do. In fact, one
of my other videos is going to go
through several ideas for you but before
you consider any of them, there are some
key points that you need to know. First
and foremost, when you’re thinking of
starting a business from home, establish
your product or your service. You need to
create a product line or a service line.
Whether it’s coaching as a service or
maybe e-commerce as a product. You’re
going to need it first of all decide
what you want to do. Product based is
really great because once the customer
gets their product your transactions
pretty much over and done. They’re happy,
you’re happy, they have their product. You
have your income, you’re done. A service
base is a little bit different. They’re
going to buy a package or a program from
you and that’s a service that you
continually need to fulfill on. Maybe
it’s a long term fulfillment like a
coaching program where your once a week
for three months or maybe it’s a service
like you’re doing hair and your spend a
couple hours together cutting and
coloring and washing, okay? Products and
service have different benefits. Either
way you go. But just pick what you want
to do and I highly recommend especially
if you’re going to be working from home,
pick something that you already like
doing. The second thing you need to
consider is that when you’re working
from home you need your own separate
workspace. And I don’t care if your kids
are at home or if they’re at school or
wherever they are, your separate
workspace needs to be just that separate
place for you to work where everyone in
the house knows that when you’re in your
work zone, that you are in your work zone.
You know you need to make sure that they
know how to get a hold of you. Especially
if you’re a single mom like me. Guys get
this. I’m a single mom. I work from home
and I’ve got five kids the youngest, just
got out of diapers, okay? So they require
some attention all day long. But they
also know that my office, that’s the
quiet zone. They also know that if
they’re going to play, they need to either
play quietly in my office or they need
to play you know crazy downstairs. That’s
where all the noise level happens is
downstairs okay? And I work from home in
a way that sometimes requires me to be
on the phone. So my kids know when I’m on
the phone that it’s quiet time.
And when I show them that I’m on the
phone and I do this – they usually go – oh
okay. I totally understand. Alright, set
up those expectations right out the gate
when you’re working from home. I have my
workspace, I have my work zone and this
is where it all happens. If you are
creating a product based business from
home, you need to consider where your
product is going to be stored and you
also need to consider what’s called in
the industry the min/max. Which means
minimum inventory count and maximum
inventory count. That minimum number and
that maximum number are going to be
established based on the number of sales
that you do and the inventory needs to
be able to be stored in your home. Which
means if you have inventory that’s any
bigger than the loaf of bread, you may
want to consider just drop shipping that
directly from the producer of your item.
Especially if it’s an item that’s less
than 50 or $100. My rules for selling
products out of my house are that it has
to be small, it has to be light and I
have to be able to store a lot of it
sight unseen because the last thing any
of us want is an overload of product,
spilling off the shelves and dumped all
over the floor before it can be moved
out of the house. So consider that when
you’re getting into product based
business working from home. Also when
you’re working from home you need to
have what’s called in the industry a POS.
Now don’t go crazy on me, that’s not what
it means. It’s called a point-of-sale.
It’s just abbreviated to POS. And a
point-of-sale can either be a
Squarespace ,it can either be a Stripe,
PayPal, Venmo.
Whatever program you’re going to use to
accept payments electronically because
guys you just got to face it, people pay
electronically now more than ever. So you
have to have a system that’s going to
receive those. Which brings me to my next
point.
You need a merchant account or a PayPal
account. Now ,if you’re just getting
started and you’re doing business from
home, PayPal is going to be fine for you
for the most part. When you get into
merchant accounts, you’re going to be
doing that because either you’re an MLM
and you need your own private merchant
account because PayPal doesn’t like MLM’s
or maybe your product costs more than
$1,000. That’s when PayPal starts to be
like okay I see that you’re processing a
lot of transactions. We may want to get
you your own merchant account for this.
But as long as your items and your
products or your services are less than
$1,000 and you’re not you know doing an
MLM through PayPal, you’re definitely
okay using that right out the gate. Now,
if your business
grows and you start processing volume in
huge transactions, definitely look into
getting a merchant account. A merchant
account is like kind of a separate bank
account that the bank is going to
process. The merchant account owner will
interview you based on your product
volume and your product type to see
which a merchant account it’s going to
be best for you. So just a heads up. It’s
okay to start out with PayPal or Venmo
or Stripe or whatever it is but you may
find yourself leveling up to a full
blown merchant count if your business does
well which we hope it does. The last
thing you need to consider when you’re
running a business from your home is
your advertising. What do you have to
spend on a marketing budget and what are
you prepared to do in order to market
your product? Does your product need
featured videos? Does your product just
need great photography? Does your product
need testimonials? You need to factor all
of that in when it comes to getting your
product or service in front of your
market. So consider using social media,
consider AdWords, consider where you want
and how much you want to spend on
marketing, okay? But you definitely need
to get your product out there and when
you’re just starting fresh and brand new
from home you’re not going to go out and
buy a billboard. You’re not going to go out
and you know print a million business
cards and hand them out to everybody .You
need to just get your product into
people’s hands first and foremost. Which
means, part of your marketing investment
will just come from a loss on the
product for the people that first
receive it in order to get those
testimonials back to you.
So consider you know taking a little bit
of a cut just to get your product out
the door. You need your beta testers, you
need testimonials, you need word-of-mouth.
So consider spending a little bit of
your marketing right off the gate on
gathering those things. Hey did you enjoy
today’s video? Leave me a comment, let me
know what you liked in the comments
below. Hit the subscribe button and
before you leave, if you want to know
what it looks like to work directly with
me and building your six-figure business,
hit the link in the description and
let’s chat.

Leave a Reply

Your email address will not be published. Required fields are marked *