7 Low Cost Ways to Increase Your Home Business Profits
By E.J. Tonkin
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New entrepreneurs often struggle with the task of promoting their businesses and attracting paying customers. Here are 7 low cost ways to increase your home business profits.
Business Cards: You've heard it before but it's important to mention it again. There are many home business owners that don't utilize the power of a simple business card. Some people believe that if you don't own a business card that you are not truly in business. A business card acts as a mini salesperson that goes to work as soon as you put it into the hands of someone. They don't have to be fancy or expensive. As a matter of fact, you can get yourself some free business cards at http://www.vistaprint.com . If you haven't already done so, take the time to get some business cards printed and watch your business grow.
- Your Attitude: This tip will not cost you much in the form of dollars but is equally important in getting your business to grow. Just because you operate a business from home doesn't mean you should treat it differently than a storefront or any other traditional business. In other words, you need to have a serious attitude about your business and run it like a real business. That starts with you and your attitude. There are very successful entrepreneurs that work from home and they run multi-million dollar companies. What kind of attitude do you think they have towards their business? Understand this simple principle and it will take you a long way in building a profitable home business.
- Street Signs: We are not talking about the paper signs that you see plastered all over local telephone poles. We are talking about small 2 feet by 2 feet signs that are stuck into the ground at intersections and other locations. There are many types of businesses that use these signs to pull new customers and so can you. We know of one home business owner that would only deploy her signs on the weekend and she would routinely get 14-15 phone calls about her service. That is not a bad response for 20 minutes of work. By the way, she would only place about 4 signs and they were all placed at the same intersection.
- Window Banners: These are one of our top recommendations because they work. You can go to any local printer or visit Web Decals.com to learn more about ordering window banners. Think about the number of drivers that pass your car each week and it makes this method of marketing well worth the money. The great thing is it doesn't matter of your vehicle is moving or stationary because the banner is still working. We suggest that you keep it simple with a website url and maybe a contact phone number. If it works for you, ask family members or friends if they would be willing to place a banner on their cars for you. If possible, offer them some kind of incentive to help you out.
- Referrals: Very few marketing techniques are more powerful than obtaining referrals but few business owners take advantage of this strategy. If you are in business, you should have some way of asking your customers for referrals. It can be done in person, via the phone, or maybe through some kind of mailing. Regardless of how you go about it, seeking referrals is a smart thing to do.
Small Classified Ads: Most of us have seen the many commercials about people making money from home using small classified ads. There are no less than two dozen gurus proclaiming that they can teach us the keys to success with this technique. First of all, classified ads do work but they are not magic. There are some simple guidelines that you need to follow in order to find the most success.
* Make sure to test your headlines and your ad copy
* Expand your ad runs only after you have tested them properly
* Choose newspapers and other publications that have good readership
* If you don't know much about writing ads, simple visit your local library
* Finally, be consistent with your ads and run them multiple times to see results
For more information on running small classified ads, check out [http://www.nationwideclassifieds.com] .
- Networking: If you are a shy person, this method will not appeal to you. However, it is suggested that you find a way to get beyond that because networking is one of the top methods used to increase profits. Some of the ways that you can network are through churches, chambers of commerce, community groups, sports teams, schools, garage sales, local events, and other similar activities. The goal in networking is to get the word out about your product or service. If people don't know what you do, you certainly can't expect them to spend any money with you. So, get out there and network with others and don't forget your business cards.
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Article Submitted On: November 02, 2004