7 Things to Keep In Mind With Your Work From Home Business Model
It is most important that if you’re starting a new, home-based business that you form a plan for all possibilities and contingencies that may come up.
This will help you reach your goal for the future, AND will also help if you’re trying to get financing for your home-based business.
This important information will actually define you home business. There are four basic components of each stage of building a business that needs to be covered.
A great business plan is laid out after you have identified the components of each stage of the business.
The infrastructure is a component of a home business. This infrastructure contains the central abilities and competencies necessary to execute your company’s business model.
The partner network, would be the business alliances you have which will complement other aspects of the business plan.
Also to consider is the value configuration, which you will want to spell out in detail. How your business is in fact mutually beneficial for your business as well as for your customers.
The value proposition for your home business plan will be describing the products and services that your business will offering for sale in your marketing efforts.
Put otherwise, value proposition it is what your customer is getting for what your customer is paying.
A customer can and will determine the value of a company based on these two broad elements, what your customers are buying vs what they are paying.
It is the sellers marketing and sales efforts which offer that value proposition to the customer/buyer.
Next consideration are the customers. It is extremely important that you are clear about who your target customers are. You should be able to describe your customer, male or female, income range, age, interests, etc.
If you look into Facebook advertising they have extensive information on ‘audience’, who would be looking for what you have.
So you need to clearly define your target audience, for the products and services your business is providing to your audience/prospects.
The distribution channel part of your plan describes how the your company will deliver goods and services to your customers.
This distribution channel could be very simple such as simply delivering your products via the postal service, all the way up to a major transport company driving your products across the country.
Finally, there is your relationship with your customer. How how you intend to build that relationship will be a central key in your business plan.
There are other area’s to address of course but I hope this helps you in taking control of your home based business.