Since launching two six figure home businesses in the space of three years, a lot of people have asked me about my most successful growth strategies. Here are my top four tips to help any grow any home business opportunity from scratch:
1. Word of mouth. When setting up my first business, the public relations consultancy, Bliss Communications, I relied heavily on the good name I’d earned in the media and public relations industries while working for others. Once I alerted a few key associates of my decision to work for myself, the work began to roll in. As I provided an effective and quality results-driven service, word got out and clients would call asking for me to do the same for them.
Eventually, I was able to pick and choosing what I wanted to work on rather than saying yes to everything. Having the mindset that this would always be the case, and that as one project finished, another would begin, also helped.
Word of mouth can be a massive promotional tool for home business, so be sure to ask for endorsements, recommendations and testimonials from happy clients.
2. Networking for joint venture partners. Before launching Home Biz Chicks I had virtually no home business based network. I researched my target market within Australia and then set about developing relationships with key people who were already successful. I flew interstate a handful of times in order to further develop business relationships and create meaningful partnerships. I wasn’t fearful of investing money for this purpose, and I wasn’t fearful of asking more successful people to be a part of what I was creating.
I’ve continued to use joint ventures to grow my business. It’s not difficult to do – the aim is to share databases with someone else who targets the same market as you but is not your direct competitor.
3. Using free publicity. I used my past experience in public relations to generate some great media coverage for Home Biz Chicks including being featured on A Current Affair. Each time I’m featured in the media, I see a corresponding growth in my list of customers and subscribers. I continue to write regular media releases on a range of topics, which relate to whatever is in the news right now.
You can also do this by surveying your audience and creating your own news topics that relate to your target audience. Once you start to be seen as an expert in your field, the media will start calling you for comment rather than you chasing them.
4. Having a business coach. When I first began I needed some clarity, direction and ideas from someone with an objective point of view. Just a single session with my coach set me on a new path and spurred about three months worth of work in terms of product creation and refining my offerings. I would highly recommend finding yourself some kind of mentor who can steer you in the right direction – and not necessarily someone who’s in the same industry as you. You need someone you will take direction from. It shouldn’t someone who’s a shoulder to cry on or a friendly ear, but someone you will keep you accountable and moving in the right direction.
© 2010 Home Biz Chicks
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