Starting a Home-Based Service Business

Heed These 5 Important Tips
So you’ve been thinking of starting a business from home. You’ve got some skills, don’t have a lot of space for inventory, so you figure it might be a good idea to start a service business. In fact, it’s a GREAT idea – you just have to be prepared to get your business off the ground and balance all the work/life responsibilities that are on your plate.
This article is going to provide you with easy-to-follow tips to do just that, but first, if you still don’t know what type of service business to start, here are a few popular suggestions:

Ghostwriting: Write articles, reports and other information for online business owners.
Transcription: Business: Create written records of audio recordings, meetings and more.
Virtual Assistant: Business: Provide administrative support, secretarial services and more for other companies.

It doesn’t matter what type of service business you start, there will be some challenges along the way. Here are some tips help you as you go along:
1. First and foremost, set your working hours and ensure everyone in your household is aware of them and respects them. If you happen to be a mother or have other interruptions during the day, there’s nothing wrong with setting aside smaller chunks of time where you’ll be working. This isn’t the “real world” work setting anymore – it’s better. You work at home and you can decide when you work.
2. As a service business, you have two very important roles. One of those roles is to provide service for your clients. The other is to FIND those clients and the time involved in this is something many service-providers don’t take into account. Ensure you have enough time for providing services and the marketing tasks for your business – or hire some help to make the most efficient use of your time.
3. Charge a fair and rewarding rate. Even if you charge your clients for each hour you work for them, there are many tasks (administrative, marketing, etc.) that you don’t get paid for. To set a rate that is worthwhile to you, you need to decide what type of overall income you desire and figure out how many hours total (all business activities) you want to be working. If you find you can’t charge a rate that is worthwhile, consider another business idea or target a specific type clientele that is willing to pay the rates you charge.
4. Be choosy about your clients. It can be tempting to simply take on any clients because you may need the cash. Unfortunately, bad clients can drain your time, suck up your energy and end up being more work than they’re worth. Resist the temptation to just take any clients because your business will be more fruitful in the long run if you work with easy-to-manage, low-maintenance clients.
5. Don’t bite off more than you can chew. If you find yourself taking on more clients than you can handle to earn more money, revisit tip #3 above. You may be concerned about giving your clients a good deal, but they actually suffer when you can’t provide the quality service they deserve. Instead aim for fewer clients, charge more and give them stellar service.
If you keep these things in mind, your transition to a work-at-home service provider will go much more smoothly. It’s not always easy and when you’re first starting out, it can be tough to find that balance and a schedule that you can work with. But stick with it and keep refining your process and you’ll find yourself owning a very rewarding business that you absolutely love.
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