You’ve sharpened all your pencils – now what?

Now that you have organized, furnished and registered your new home-based enterprise, it’s time to start thinking about how you’re going to get business. Hopefully you did a business plan and part of it addressed the marketing of your new business.

But have you considered the many marketing strategies and challenges facing small business, and more specifically your home-based business, in today’s market?

Let’s take a closer look.

How are your potential clients, your market, going to know you exist, let alone know that you’re open for business?

First on the list is what your business is going to look like - the face of your business. Your business identity creates an impression. It’s an extension of your personality. Dynamic, easy- going, successful, creative, expensive, international, conservative - all can be accomplished with design and consideration of shape, typestyle and colour.

The logo, the business card, the look and feel of your business is the management of impressions. How your business appears to your potential clients and even your competition is very important.

You want to attract new business and be a serious player, competitive, appropriate and above all professional. The pride you have in your new business will show. Make every impression a good one.

Selling the products and services of a business you are proud of is always easier and ultimately more effective.

A graphic designer can help you to create your new business identity. Find out if the designer has done this type of work for others and look at samples. Get a quote. Check out The Society of Graphic Designers of Canada.

Once this critical phase of the creation of your new business is complete, it’s time to start thinking about how and where to apply the images. The designer will layout your stationery (business cards, letterhead and envelopes).

Next to consider, is a brochure outlining the features and benefits of doing business with you and your company. (A marketing person will be helpful here).

Ok, now you can meet people, hand out business cards; follow up with letters and brochures. What else is there? Lots. Since you’re running your business from home, exterior signage may be a problem. In most cases signage isn’t allowed in residential areas. An alternative is to apply your new business identity clearly and tastefully to your vehicle.

A sign shop can provide the necessary service. Most of the sign shops use vinyl lettering, which can be easily removed when you change vehicles. On the vehicle, place the new logo, specialties and telephone number. Just a word of caution though – better be a courteous driver!

Another way of attracting attention and creating interest in your business is with a press release. Writers/business communicators are very helpful with this and when you get to know one, they can help with the newsletter you may want to create later on, to help you stay in touch with your clients.

Advertising is expensive! We all know it is don’t we?

If it is so expensive, why do so many businesses spend so much of their marketing dollars on it? It’s only expensive if it doesn’t work. Target your advertising specifically to your market and monitor its effectiveness frequently.

When you run ads for your business, look at the competition. If they are consistently running ads, it is probably an effective way to generate new business. Also be patient. It takes time to build credibility, a track record and familiarity within your market.

The Yellow Pages is another way of marketing your business. Again, check out the competition. The number of players and the size of their ads will provide some indication of effectiveness. For some businesses the Yellow Pages is a must, and for others it’s a matter of evaluation.

So, what else can you do to get your business name and identity out there?

There are hundreds of options. It is a matter of budget, return on investment and appropriateness. You might consider sponsoring a ball team, rowing team or other community event if it seems right and appears to add credibility to your business.

Flyers and coupons can be excellent for developing new business. Make sure you can measure the results.

Consider joining business organizations such as the Chamber of Commerce, the Better Business Bureau, a home-based business-networking club, leads clubs (these clubs meet regularly to exchange useful business leads).

Professional memberships in specific associations can be very helpful in adding credibility, as well as providing an excellent opportunity to get to know people doing similar things (often they are your competition – you need to know them). Develop some strategic alliances (people you can call upon to help when you need it). Develop a referral network.

Now, the part I like. Brainstorming. (Focus - creative ideas to help market your business). Do it often. Use your friends and relatives for this activity. Sit around a table with a bowl in the middle and lots of small pieces of paper. Provide a set of objectives or challenges, and then let it go!

Set a time and target of number of ideas to keep the momentum up. Do not be critical of any ideas, no matter how silly or inappropriate they may seem. Stealing ideas and adding to them is OK. Get as many ideas into the bowl as possible. Evaluate and categorize the ideas later. You will be surprised at the results and possibilities.

I have touched on some of the many opportunities available to market your new home-based business. In future articles I will discuss the subject in more detail.

What can you do with your business that no one else is doing? What markets are your competitors overlooking? Brainstorming! Be imaginative, innovative and above all be passionate about what you do with your business - it will make a good business great!