SO-HO start up – HOW TO

We all contemplated at least once in our lives to have our own successful business. How nice would it be to be your own boss and make as much money as you like, take vacation time off, spend time with family and make a decent living -follow the American dream, instead of running the 9-5 Rat race.

With the affordable avenue of the internet, phone, electronic equipment and some knowledge and expertise of a topic, starting a SO-HO business is attainable.

However, your desire to do so, your dedication towards achieving your goals and your determination (your 3 D’s) of starting, running and creating your own success are something only you can achieve.

My approach will walk you through on how to start up, what to consider and before you go ahead and start spending your hard earned money or savings on packages that promise an overnight fast success, consider these points:

1) Determine your skills and strengths

Take a hard look at what background, hobbies or what is that you do well and enjoy doing. What skills or trade you own, what benefit can you offer to your customers.

2) Check assets

What tools you need to run your business. What do you have, what you can get, what you will need and how much will cost to set up your fully functional SO-HO.

3) Check demand/ competition

Do research and see if your services or products are in demand. How much can you charge for these, how many people are interested, what is the market that you can open your service or product. What would be the life span of these.

4) Budget

How long can you last before you make enough income to cover your expenses? Do you offer a service that does not require inventory or up front money? a product? how much inventory you can have before you need to re order, what is your cost/ overhead.   

5) Liabilities that come with your SO-HO

Licenses, permits, insurance, liability insurance, legal protection, facilities, customer service and support. These all have to be taken in consideration and have to be planned before you start supplying.

6) Marketing
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Do you have a marketing tool. Will you advertise locally, direct mailers, on the web, magazines, newspaper. Will you outsource your marketing campaign, or will you be doing your own marketing/ advertisement.

7) Set up the office

Do not spend a lot of money on your office equipment or furniture, but do buy the best ergonomically fit chair. Make sure your computer/ laptop has all the necessary programs you need to run your business and are up to date with newest version.

8 ) Set up your vendors

Make sure you have vendors aligned for the supplies, products and services you will use to incorporate with your SO-HO. This way, once you start getting customer, you will have all setup and ready to place orders or ask for services that you will transfer to your clients.

9) Forms

Have all legal forms that will be used for your business, procedures, schedules ready to use and set up your office to automate tasks so you can free up time concentrating on your customers.

10) Communicating with your customers

Do you have a service plan, a customer support procedure, ways of communicating with your customers.

By creating a daily routine, schedule your time, organize your tasks and perfecting your skills, services and products. You will find that running a business is a way of living and brings satisfaction when is set up from the start.

It is best to start your SO-HO while you still have a steady income. This way you can concentrate on your business and plenty of time to make sure all is set up, instead of concentrating on making income and struggle with the unknowns.

Best of luck and wish you success with your new venture!



Copyright ©2011 Ramona Szilagyi, places4us.com. Article material is copyright. Reproduction in whole or in part without advance written permission is prohibited.