Home' Trinidad and Tobago Guardian : July 16th 2013 Contents B3
Tuesday, July 16, 2013 www.guardian.co.tt Guardian
1. Do what you enjoy.
What you get out of your busi-
ness in the form of personal sat-
isfaction, financial gain, stability
and enjoyment will be the sum of
what you put into your business.
So if you don t enjoy what you re
doing, in all likelihood it s safe to
assume that will be reflected in
the success of your business---or
subsequent lack of success. In fact,
if you don t enjoy what you re
doing, chances are you won t suc-
2. Take what you do seriously.
You cannot expect to be effective
and successful in business unless
you truly believe in your business
and in the goods and services that
you sell. Far too many entrepre-
neurs fail to take their own busi-
nesses seriously enough, getting
easily sidetracked and not staying
motivated and keeping their noses
to the grindstone.
They also fall prey to naysayers
who don t take them seriously
because they don t work from an
office building, office park, store-
front, or factory. Little do these
skeptics, who rain on the home
business owner s parade, know is
that the number of people working
from home, and making very good
annual incomes, has grown by
leaps and bounds in recent years.
3. Plan everything.
Planning every aspect of your
home business is not only a must,
but also builds habits that every
home business owner should
develop, implement, and maintain.
The act of business planning is so
important because it requires you
to analyse each business situation,
research and compile data, and
make conclusions based mainly
on the facts as revealed through
Business planning also serves a
second function, which is having
your goals and how you will
achieve them, on paper. You can use
the plan that you create both as map
a yardstick to measure the success of
each individual plan or segment within
4. Manage money wisely.
The lifeblood of any business enter-
prise is cash flow. You need it to buy
inventory, pay for services, promote
and market your business, repair and
replace tools and equipment, and pay
yourself so that you can continue to
work. Therefore, all entrepreneurs must
become wise money managers to ensure
that the cash keeps flowing and the
bills get paid. There are two aspects to
wise money management.
The money you receive from clients
in exchange for your goods and services
you provide (income)
The money you spend on inventory,
supplies, wages and other items required
to keep your business operating.
5. Ask for the sale.
A home business entrepreneur must
always remember that marketing,
advertising, or promotional activities
are completely worthless, regardless of
how clever, expensive, or perfectly tar-
geted they are, unless one simple thing
is accomplished--ask for the sale. This
is not to say that being a great sales-
person, advertising copywriting whiz
or a public relations specialist isn t a
tremendous asset to your business.
However, all of these skills will be for
naught if you do not actively ask people
to buy what you are selling.
6. Remember it s all about the cus-
Your home business is not about the
products or services that you sell. Your
home business is not about the prices
that you charge for your goods and
services. Your home business is not
about your competition and how to
Your business is all about your cus-
tomers, or clients, period. After all, your
customers are the people that will ulti-
mately decide if your business goes
boom or bust.
Everything you do in business must
be customer focused, including your
policies, warranties, payment options,
operating hours, presentations, adver-
tising and promotional campaigns and
website. In addition, you must know
who your customers are inside out and
7. Become a shameless self-promoter
(without becoming obnoxious).
One of the greatest myths about per-
sonal or business success is that even-
tually your business, personal abilities,
products or services will get discovered
and be embraced by the masses that
will beat a path to your door to buy
what you are selling. But how can this
happen if no one knows who you are,
what you sell and why they should be
Self-promotion is one of the most
beneficial, yet most underutilised, mar-
keting tools that the majority of entre-
preneurs have at their immediate dis-
8. Project a positive business image.
You have but a passing moment to
make a positive and memorable impres-
sion on people with whom you intend
to do business. entrepreneurs must go
out of their way and make a conscious
effort to always project the most pro-
fessional business image possible.
The majority of entrepreneurs do
not have the advantage of elaborate
offices or elegant storefronts and show-
rooms to wow prospects and impress
customers. Instead, they must rely on
imagination, creativity and attention
to the smallest detail when creating
and maintaining a professional image
for their home business.
9. Get to know your customers.
One of the biggest features and often
the most significant competitive edge
the home based entrepreneur has over
the larger competitors is the he can
offer personalised attention.
Call it high-tech backlash if you will,
but customers are sick and tired of
hearing that their information is some-
where in the computer and must be
retrieved, or told to push a dozen digits
to finally get to the right department
only to end up with voice mail; from
which they never receive a return phone
Continued on Page B4
Project a positive business image
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