Reasons Your At-Home Business is Failing (and How to Fix It)
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When you start an at-home business, you think you will instantly be in profits – after all, you don’t have overhead costs like average businesses, so how could you fail? Unfortunately, home businesses fail more than other businesses. It isn’t because of the costs – it is the mentality. When you have a home business, you do not look for ways to improve, you get stuck in “home” mode rather than work mode, and often don’t work toward expanding your business.
If you have an at-home business, we have a few reasons you might be feeling like a failure – or perhaps just not growing as you should.
You Don’t Have a Business Card
Just because you work from home doesn’t mean you don’t need a business card. These can be attached to things like invoices, estimates or given out to random people as a way to advertise. Take some time and invest in a high-quality business card while you are at it.
You Don’t Monitor Trends
Too many small businesses ignore trends. We are talking about the weekly, monthly and even quarterly numbers that tell you just how well your business is doing. Do you know the profits you earned last quarter? Last month? If not, you don’t even know where to improve – and you definitely won’t see trouble coming your way. If you don’t have the time, use an accounting software program to track your income and losses and then use reports to monitor your profit and loss.
You Don’t Research Marketing Trends or Use Social Media
You have an at-home business and while you may get your start by word of mouth, you eventually need to bring in clients from afar. That means dabbling in marketing, promoting your business on social media, etc. If you have yet to start marketing, now is the time – at least start by creating a Facebook profile for your business.
You Don’t Have a Website
This goes hand-in-hand with marketing. You can’t advertise your business if you aren’t online. People simply won’t find you – and no matter how great your business idea is, you need a website to prove its greatness to the world. It doesn’t cost much to start a website these days – in fact, you could get one up and running for less than $10 per month. It’s a tax deductible expense and boosts your business – so why wouldn’t you?
Just be cautious about which web host you use for your business. While there are some relatively affordable ones out there, often you sacrifice reliability and uptime to save just a few bucks. Read our reviews of web hosts first before you commit to one.