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How Home Entrepreneurs Are Taking The Market From The Hands Of Big Business

by / 0 Comments / 10/11/2016

If you want to look for revolution in the business world, then all you need to do is look in the homes of a huge number of new business owners. There, you’ll find the entrepreneurs building today’s businesses. What seemed like a preposterous idea to many has become widespread, accepted and profitable. Here’s how this unlikely situation has started to occur more and more often.

 

Not using their money

Funding for a business has always been something of a hard thing to acquire. With the much-reduced costs involved in a home business, however, it’s a lot easier. Given how wary banks are of lending after the recession and now with Brexit looming, the answer is to look elsewhere. There are loan companies that specifically offer loans to businesses for one. Then for certain ideas, you might even find they’re strong enough to get sponsored by a wave of crowdfunding. The best tactic is to pick and mix. Diversify, getting smaller amounts from more investors. That way, you lose less stake in your business to an individual.

Connecting with like-minded individuals

The many outweigh the few if they put their minds to it. For home business owners, that means connecting with other small businesses. They can be hard to spot in your vicinity, so use sites like LinkedIn, as vonage.co.uk suggests. There are forums for entrepreneurs of all kinds and all industries. Find those in the same boat as you. Share resources, share marketing and share advice with one another. With a bit of support, it’s a lot easier to market and provide better service.

Matching them punch for punch

Okay, so home entrepreneurs definitely don’t have the budget to meet some of the marketing highs that big businesses will meet. The correct tactic isn’t to out-punch them, but to match them where you can. For instance, using press releases for your business news and announcements can put you right there on the front page of a news site or blog with them. Home businesses also need to look the part. If they’re using a home address as the public business address, it will bring some stigma. Instead, use things like mail forwarding – yourvirtualofficelondon.co.uk.

Crowdsource your hype

One way you can match and even beat corporate marketing is by embracing those who support you. Build a buzz. Instead of relying solely on your own marketing material, get people talking about their experiences with your business. Follow-up on purchases and find out if people are happy with their product. If they are, get them to leave a review. You can even ask for testimonials to put on your site. There are a lot of people who won’t reply or decline, but being heard is just as important to many others.

The power of the internet, marketing techniques and new ways to support business has made it easier than ever to run a successful home business. If you have the idea and the guts to put it out there, there’s little to stop you from succeeding.

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