Home businesses are very good ways of achieving financial freedom. Many have tried the trade but only a handful have succeeded. This is basically due to the killer ideas that many have in their mind relating to the business. To some, these ideas are for the betterment of the business but this is not the case. Most of them lead to the downfall of the company right at the start.
One of the most common ideas that kill home business is that cheaper prices will help your business attract customers and enter the market. When looking for customers, 0one looks for the kind of client he or she wants. If the price sensitive type are the ones you look for, then you will have to work with them for the rest of the business. As you know, this is not healthy for your business since once you hike the prices, you will be left with no clients at all. Therefore, do not sympathies with your clients at first. Set your prices within the normal range if you expect to maximize this opportunity.
Another very common hazardous idea is that marketing is not necessary. Many lie to themselves that their products or services will sell themselves. According, such an idea is for the lazy individuals trying to avoid the hassle and bustle related to marketing. Truth be told, no matter how good your services are, marketing is quite necessary. How do you expect people you know of it without marketing? This is like planning to drive a car without and engine! Bottom line is that; services or products can never sell themselves.
Others go to an extent of thinking that their businesses are businesses are too small to have a plan. To me, this is quite absurd taking into consideration that even a team participating in a 90 minutes football match requires a plan. Yes, a home business is small but no, it does require a plan. It will soon grow into a massive company, how will you run it when it reaches that stage if you ca not run it as a ‘small business’? A plan is necessary. Finally, some think that their close relatives or friends will help them build the business for free. The best example in this case is designing the website. 90% of such agreements never work since there is no seriousness in them. Look for a professional to do it for you; do not rely on any member of your social group.