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How to Market a Home-Based Business

How to Market a Home-Based Business


How to Market a Home-Based Business. Market your home based business as if you
were a Fortune 500 enterprise. Learn to cover all the bases and focus your
efforts to gain the greatest return. You will need Product or service Research
Analysis Network Business cards (optional) Brochures (optional) and letterhead (optional). Step 1. Define the market for the product or service
of your home-based business. Research and experiment to determine your
customer base and appeal and adjust your approach accordingly. Step 2. Analyze the competition to better promote
what you have. Successful entrepreneurs always find a niche
— a part of the market that no one else serves as well as they do. Step 3. Start casual conversations and network wherever
you go to make people aware. You never know when a business contact or
opportunity will present itself. Step 4. Build your network through chamber of commerce
and PTA meetings, civic associations, trade shows, professional conferences, and online
social network sites. Design attractive and professional business
cards, brochures, and letterhead to distinguish your business as you promote it. Step 5. Ask for business with cold calls or by offering
bargain rates. Don’t let pride get in the way — if you don’t
speak up for yourself, no one else will. Step 6. Establish a fair price for your product or
service to make a profit and remain competitive. If you undervalue your product or service
you could lose customers, and raising the price later will be near impossible. Step 7. Read publications and learn from people in
the field to expand your knowledge and get ideas. Attend meetings and conferences to stay abreast
of challenges and to get your business name out there. Step 8. Follow up with potential customers. This is about developing long-term relationships
and a foundation of trust so that your name and company reputation are circulated favorably. Did you know As of 2010, small businesses
employed about half of the private sector work force in the United States.

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