Are you ready to own and operate a business?
By Kathleen Gage
How often has someone thought of starting a business
based solely on the fact they think it will be easier than working
for someone else. Fact is, owning and operating a business can be
one of the most grueling experiences you will have. Granted, there
are many advantages, but unless someone has actually run a business
there is much to consider before you make that decision.
The following information will help you operate a
business more professionally. With today's technology there is no
reason you cannot have the look of a large company even if you are
working off your kitchen table. If you have a home based business it
is suggested you have a room dedicated to your business. This helps
you to stay focused and there are some major tax benefits in doing
this.
PROFESSIONALISM
-Choose voicemail rather than an answering machine. There is a
major difference in the perception to the caller.
-Toll free number. Check with your local telephone company to find
out if this is available to you if you will have a lot of
clients/customers from outside your calling area.
-Have a separate business phone line. You do not appear very
professional if your children answer the phone.
-Email. Avoid using free services due to limitations and
perceptions. -Dedicated fax line. A small business will appear as
such if the fax number and phone number are the same.
RUNNING AN OFFICE
-Stay organized. The more you can keep yourself organized the
easier it will be to respond to customer's requests in a timely
fashion.
-Color file folders. A great way to organize your file system. Each
color indicates a category.
-Dedicated file cabinets. Separate personal papers from business.
-Form letters. Don't reinvent the wheel with every letter you write.
Keep form letters on a disc or your hard drive.
FINANCIAL END of running the business. There
will be many costs to running a business. The following are some of
the investments you will need to consider.
-Medical insurance
-Separate phone lines
-Taxes
-Marketing material
-Office supplies
-Products
-Service fees
-Accountant
-Financial Planner
-Bookkeeper
-Keep excellent records
-Keep all receipts
-Advertising
THINGS YOU WILL NEED IF YOU WANT TO STAY
COMPETITIVE
-Business license
-Incorporate
-Bookkeeper
-Financial planner
-Marketing material
-Business cards
-Letterhead
-Envelopes
-Folders
-Letters of referral
-Bio sheet
-Product or service sheet
-Web site
PROFESSIONAL ORGANIZATIONS
-Which ones are most beneficial for you to join? To get the
biggest benefit from any organizations you need to get involved. Use
the monthly meetings to network.
-Dues and fees. How much are the annual dues and cost for monthly
meetings?. Figure that in your budget.
-Conventions. Are there any conventions you need to go to? What is
the time and cost investment? Talk to others who have gone to find
out if it will be worth the investment.
-Network. Most of your business will come from referrals.
QUALIFYING THE BUYER
-Who is my customer?
-Do they have a budget for my product or service their budget?
-Do I want to work with them?
PAPERWORK
-Invoices
-Contracts
-Service agreements
-Letters
MANAGE PROFESSIONAL IMAGE
-Responding to requests by providing what the customer needs. If
you are not the person for the job, who can you refer (that's why
networking is so important)
-Follow-up. Do your follow-up in a timely fashion
-Develop a good relationship with the client
-Return calls as soon as possible
-Send information in a timely fashion
-Priority mail is often less expensive than first class. And it can
be more impressive to your client.
-Keep in touch after the fact. A mistake a lot of people make in
doing business is they do a job for a client and then seem to forget
the client. It is easier to get repeat business than it is to find
new business, and yet, so often business owners and salespeople
(which is what you are if you own a business) will look for the new
customer and forget about their existing clientele
Kathleen Gage is a keynote speaker,
author and business advisor specializing in marketing and
promotions. Access Gage's's FREE eBook, Street Smarts Marketing On
the Internet at http://www.streetsmartsmarketing.com/free-ebook.htm.
* * *
Ms. Gage's article was reprinted with permission. It
is here for information purposes only. If you have question about
the article, contact Kathleen Gage at http://www.streetsmarktsmarketing.com.
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