The Home Business Model MRR Ebook

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Chapter 8: Taking Your Home Business to Higher Levels

Summary

How do you improve upon the home business you have established and take it to greater glories? Here are some ways.

Taking Your Home Business to Higher Levels

If your home business shows some signs of settling down, what do you do next? You have probably grown with the idea that you can make as much or as little of your home business as you want to. If you see that things are beginning to pay off to some extent, you might want to pull the stops. But, what you must realize is that you can take your home biz to much higher levels if you wanted to.

You will need to consider a few things.

Outsourcing

We have spoken about this before. If you haven't used it yet, you must know that you cannot avoid it when you are trying for expansion. You can give out some part of your work so that you can manage more clients, more work and hence more money. Try finding people over the Internet who can give you work through online means. If you are into something like network marketing, try building newer streams to improve your home business.

Automation

There is a lot that you can automate. You might not know about it at the start, or you may not have the funds to do that, but as your business grows, you will certainly be able to do so. For example, you could automate your emails by using an autoresponder system. You could automate your website testing by using split testing software.

These are just examples. There is automation possible almost everywhere. You have to find out about it and use it.

Diversification

While one arm of your business is doing well, it is time to think about another branch. You will have to nurture it just as you did the earlier one, but with one branch established, you have time to do this. You could select a related domain to reduce your work because then you can use most of your material from your initial venture into this. Diversification can multiply your income in direct proportion, but not the investment, because several things will be used in common with your previous ventures.

Chapter 9: Guiding People Along - Building a Workforce

Summary

People are the biggest resource you would need when you are running a home business. But getting people in a home business is different from getting them for a usual corporation.

Guiding People Along - Building a Workforce

One of the main ingredients for a successful home business is a dedicated taskforce. When you are working from the comforts of your home, jabbering away on your computer, little do people know that you are actually working with an array of people in different parts of the world.

These people could be your clients from whom you take work, they could be your customers to whom you sell things, they could be providers whom you outsource work to, they could be people within your business network, etc. But without these people, your business is more sunk than a shipwreck.

But, there are some things that you must remember. There is a big difference in managing people online and managing them in the real world. When you are working with them online, you aren't actually seeing them. In most cases, there will not be any contracts either. So, how do you keep them working with you?
Giving Incentives

You will have to consistently keep giving your providers good incentives that can keep them working in good spirits for you. These incentives will mostly be monetary, but they could also be something like a good rating or a recommendation for more work. Sometimes, even a word of praise can keep them working well for you.

Giveaways

This is for the people who are already your customers or who are likely to become one. Giveaways are meaningful gifts that could help people know what your products are like. They might get a favorable impression from what you give them and really buy your other products. You have to ensure these gifts are good quality, though. The best things for you to give away are eBooks and newsletter subscriptions. These are informational items and don't cost you much.

Motivating People

More important than what you give them is how you can motivate them to remain a part of your workforce. You could give them tips on working more efficiently and on other practical things such as how to get transactions done, how to research, etc. These things reinforce your image in their mind and because they have learnt things from you, they will stay faithful to you. This becomes the greatest motivation for them to stay in your team and collectively sally forth.

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