It has been reported that approximately 70% of new UK businesses start from home. Whether you want to make your own products or sell your services, starting a business from the comfort of your home could be the best way to get your idea up and running, as it will offer minimal overheads.
If you are an aspiring entrepreneur, ensure you read the following five tactics for running a successful home-based business in the UK.
As your home will serve more than one purpose, you must aim to create an efficient, functional space to ensure your new company’s growth. Organisation can ultimately improve internal productivity and efficiency, as it will ensure every product or document has a space within the home.
For example, if you are developing your own craft beer, liquor or another homemade item, you would be smart to invest in sturdy shelving units, which can store your business tools, products, or paperwork. Find the best options for your business at G-rack.co.uk, so that you can have regulation workbenches and heavy-duty shelving to help your business endeavours.
Focus Inexpensive Marketing Tactics
It is likely you will not have a significant amount of cash in the bank when running a home business. To lower your expenditure, you should focus on inexpensive ways to promote your brand, products and services.
For example, you could:
- Cross promote products with complementary businesses
- Feature promotional offers inside invoices
- Advertise your business using a vehicle wrap
- Cold-calling or emailing potential clients/customers
- Post flyers or brochures across your town/city
- Host free workshops related to your goods and services
- Develop a newsworthy business angle to generate free press attention
- Run social media campaigns
Maintain Professionalism by Outsourcing Areas of Your Business
Running a home-based business doesn’t mean you need to compromise on professionalism. While it is important to keep your overheads as low as possible to increase your profit margin, your branding, customer service or product quality must not suffer, as a result.
With many affordable, professional freelancers available, there is no excuse for a low-quality logo, poor bookkeeping or an inferior website. If you do not have the time or skillset to execute a project, outsource a task to a professional who can, or you could potentially damage your brand’s reputation.
Be Persistent and Patient
A home business will not enjoy success overnight. It can take time to build a presence in the search engines, boost your brand awareness and acquire new customers. However, through hard work, patience, and persistence, you will soon enjoy great success – even if it feels like a million miles away.
Stick to Business Hours
It can be tempting to work seven days a week, 18 hours a day, when running a home-based business. However, this can considerably damage your mental health and relationships. To avoid burning out or destroying your family/social life, you must attempt to stick to business hours. This means avoiding answering calls or responding to emails once you have punched out of your home office or garage workshop for the day.