You have done it. You have negotiated and found a way to work from home and get paid for it, just like 50% of the workforces in the United States of America today. Are you interested in joining the 10% of Americans who have taken their online jobs to the next level and started their own businesses? Just like them, you can turn your work from home job into a business that you own.
5 Steps to Turn Your Home Job into Your Own Business
Step 1: Test Your Idea
Before you begin, you will need to test your idea, the work, service, or product that you intend to provide, in the real world. In this first phase, you want to get someone to take you up on your offer. It doesn’t matter so much how much they pay for it in this early stage, but you must test the waters to see if anyone will pay you for what you are offering.
And when they do take advantage of your offer, ask them for a positive written referral or testimonial. This is proof that someone paid you, and you delivered whatever it is that you are offering, and someone was satisfied for what they received.
Step 2: Offer
In the second phase of testing, you create offers for your product or service and place small, inexpensive ads for your product to see what happens. Be sure not to overspend. The idea here is to gain some idea about how much you might have to spend on advertising to get a stranger to take advantage of your offer.
There are a great many skills that are necessary to build and run a business, many that you will not have or are not interested in doing yourself, even if you have the necessary skills. Not to worry, outsource them to someone else who can perform that function for you.
If you need help creating an ad, get someone to help you get what you need done for five dollars in fiverr.com
Step 3: Return on Investment
You are looking to track how much you spend on advertising and where the advertising is placed. The goal is to get a return on your investment (ROI). Let’s say you spent $50 on advertising on Facebook. How much revenue did you produce from placing that ad? Do the same with all of your advertising, such as newspaper, radio advertising, whatever, being sure to track everything separately. The difference between what you pay and what you receive is your ROI.
Once you have numbers and results to track, you can scale up your ad budget. As you raise what you spend in advertising, your income generated should come up as well.
Step 4: Test, Track, and Tweak
Practice the three Tees, testing, tracking, and tweaking by spending time to change your ads and offers and track their progress as well. Some offers will far outproduce others. Find out what works best for you.
You might enjoy the process of tweaking your offers, I know I do. If you can enjoy this part of the process, changing graphics, layouts, changing offers, words, visual display, colors, bold text, etcetera, you may find a degree of excitement in this part of the process, though many do not. If it is not for you, outsource it. But monitor it closely.
Step 5: Diversify
In times of the year where your potential clients are less responsive to your advertising, it might be better to take time off and understand that your business has a cyclical lifestyle. If that proves to be the case, relax your business efforts during these times and think about diversifying.
Look for another business that is cyclical, but up when your business is turning down. This is the perfect synergistic relationship between two businesses, that will keep your efforts rock-solid throughout the year.