Home Business Ideas for Mums

With childcare costs as high as they are working in the home is an appealing option for many mums. Unfortunately there are a lot of unscrupulous people promising unrealistically high earnings for home working jobs. To help you find an opportunity that really can earn you money from home we’ve put together 5 home business ideas for mums. These aren’t get rich quick ideas and all will take time to establish but, with hard work, can create an income.

E-commerce

If there’s a product you’re passionate about then selling online could be for you. If you’re fairly good with a computer then there are plenty of packages that will help you to build an e-commerce site. You couldn’t also consider selling through another platform. eBay is a popular choice as is Amazon. If you’re selling something you’ve created yourself then Etsy can work well. Just bear in mind that all of these sites will charge you a fee for using them, usually a percentage of sales. If you plan to hold stock you’ll need some storage space, either at home or through a company. Alternatively you could look at drop shipping, where you take the orders and pass them on to another company to ship. Read about Mums who run e-commerce businesses.

Selling Private Label Products

Private label products allow you to buy a product and then add your own branding before selling it on at a profit. It can work well if you want to do something like start skincare business or a clothing business. Private label products can also be digital products like printables which eliminates the need to store stock.

Bespoke items

Bespoke items are one of the few things that small businesses can often do better than large ones. There are hundreds of items that can be personalised for buyers for example clothing, food items, gifts, stationery or furniture. Just be prepared to spend as much time Marketing the business as you do on the creative process. Check out our stories from mums who’s create bespoke items.

Blogging

Of all our home business ideas for mums this one will probably take the longest to build in to a profitable business. However if you enjoy writing it may be one of the most fulfilling. Bloggers make there money from advertising on their blogs. In some cases they will be given a product as payment for reviewing it, in others they will be paid either to write a post about something or to publish a post written by someone else. They also sometimes sell display advertising on the blog and run affiliate programs like Google Adsense. Read blogger KatyKicker’s story for inspiration or check out this fab course on how to get started as a blogger.

Information products

Information products describes a range of products, usually online, that provide the purchaser with information they need. The products might be ebooks, courses or access to a library of resources via a subscription payment. The hard work is in creating the products, once that’s done, the focus is on marketing them. This way you can continue to make money from them long after the initial hard work is finished.  Have a look at our information product stories to find out more.

Virtual assistant

If you have excellent admin skills then you could put them to use to creat an income. Many small business owners prefer to focus on the core elements of their business and outsource the admin to someone else. This creates opportunities for people whose forte is admin. You’ll need a decent laptop and good broadband speed to make it work. Networking skills to help you find your clients. To the stories from Mums who have become VAs have a look at our business to business stories.

Other home business ideas for mums

We’re tried to stick here to home business ideas for mums that are fairly accessible to everyone but if you have a particular skill set you may well be able to make use of it at home. You may be knowledgable about something that you could teach. You could either do it by inviting clients to your home or via the internet. If you’re a coach or counsellor you could offer your services via Skype. Perhaps you could do something you’ve done before but on a freelance basis. Whatever home business idea you choose to go for, make sure that you meet the legal requirements by getting insured and informing the council, landlord or mortgage company if necessary.

Want to start a business but not sure which one is right for you? Check out this review of “How to Become a Work From Home Mum” a book with over 50 work from home mum ideas.

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Home business ideas for mums

Make Space in Your Home for Your Business

Starting a business at home can help you to save money and makes it easier to get up and running. You can launch your business without having to find a dedicated space and you often only need a desk and a computer to do everything. However, you also need to find some space in your home that you can use, whether it’s somewhere to set up your desk or a space you can use to manage products that you want to sell. Finding or making the perfect space may require a little thought but there are a few options for you to consider.

 

Clear Your Spare Room

If you’re lucky enough to have a spare room, it can be the perfect space for your business. You can keep everything tidied away in one place and easily separate your business from your home life. But you first need to make sure your spare room is suitable as your business space. Start by clearing it out so that the space is available to use. Use a self storage unit to store any extra stuff that is preventing you from setting up your office or other business space. Clear out anything that you don’t currently need and create your workspace instead.

 

Claim a Space in Another Room

Not everyone has a spare room. If you don’t have a whole room that you can use, you can find a space in another room. There might be a corner in your living room, space at the dining room table, or even somewhere to work in the kitchen or the garage. You don’t necessarily need much space, depending on what business you’re conducting. If you can’t spare much space, consider setting up something that you can easily pack away at the end of each day.

 

Add a New Space to Your Home

When you can’t find a good space to use in your home, you might need to consider adding somewhere. This could be a number of things, including a garden office or perhaps a converted garage, basement, or attic. Of course, this sort of thing is an investment and it might not be something that you want to spend money on. Before you decide to set up a new space, whether it’s for an office, a studio, or a workshop, get some quotes and work out a budget to see how much it will cost.

 

Ensure You Have Essential Amenities

Once you have chosen a space for your business, make sure you have the essentials to get your work done. If it’s just a home office, that will probably mean a desk and chair, as well as any office equipment you might need. But if you’re setting up a different type of space, you might need to consider other things. Maybe you need tools for making your products or you’ll even have clients coming to your home who need equipment, such as fitness equipment.

If you want to make space in your home for your business, consider your options to determine the best place to set up.

Moving Your Home Business? Here’s What You’ll Need to Do

Starting a business at home is a fantastic way to bring in your own money in your own way, and without needing to spend a lot. You can quickly and easily get a business started from home because you don’t need a lot of capital to start doing whatever it is you want to do. However, as your business grows, you might consider whether it’s a good idea to move it out of your home. Perhaps it’s become too big to be operated from home and you’re considering moving into an office, looking for a workshop, renting a storage space, or even moving into a brick-and-mortar shop. If you’re thinking about this, there are some things you should do.

 

Set a Budget

A space for your business outside of your home is going to cost money, and for that, you need to have a budget. There are various expenses that you’ll need to take into account, starting with the rent that you need to pay for the space that you choose. You might also need to pay separately for utilities and other bills. You can have expenses related to setting up your new space too, from moving costs to furniture and decorating.

 

Define Your Needs

If you want to move your business into a new space, you have to know your requirements. What does the space need if it’s going to provide for your business and help you to grow? Creating a list of requirements will help you to start looking for the right place and make it easier to rule out anywhere that’s not suitable. Every business will have different requirements depending on what sort of premises you’re looking for, how many people will be working there, and what requirements you have relating to equipment or supplies that you might need to use.

Get the Legal Stuff Sorted

Being on top of any legal issues relating to moving to a new space is important. You might need some legal help with the lease or purchase if you’re intending to buy someone. Hiring solicitors who have experience in commercial law, including commercial property, will help you to get it all sorted out properly. You can get advice before you do anything to ensure you get it all right and you don’t miss any major legal issues. You might also need to consider taking out insurance to cover your new premises and any customers or visitors you might get.

 

Organise the Move

After you’ve found the perfect place to go, you need to make sure you’re organised for the big move. This might include a number of things, from packing up anything that you need to move to setting a moving-in date. Because you’re moving from your home to more official premises, there might be equipment or furniture that you need to buy to fill your new space. If you’re working with other people, talk to them about what they will need.

When it’s time to move your home business to bigger premises, take your time looking for somewhere that will allow you to grow.

5 Easy Ways To Market Your Business

It does not matter what sort of business you run today, one thing that you need to do is market it effectively. After all, competition is fiercer than it ever has been because the barriers to opening a company have been reduced. Because of this, it is important to make sure you do everything you can to stand out and to ensure that customers pick you over the competition. 

  • List on a business listing website – The first suggestion that we have for you is to sign up for a business listing site. There are a lot of listing websites but you need to choose with care. After all, you need to make sure that the site you choose is reputable and relevant to your target audience as well. However, the great thing about business listing sites is that people who use them are actively searching for a company just like yours, which is why they are perfect for marketing. 
  • Connect with people on social media – Social media is free to use, and it provides you with a great way of connecting with customers. It enables people to get closer to your brand than ever before, and this is something you can use to your advantage. However, it is important to remember that social media should not be used to simply post an endless string of promotional messages. It is all about engaging. 
  • Create a stylish website – Of course, one thing that all businesses need to have today is a stylish and professional website. Your website needs to be optimised, easy to use, and quick to load as well. The good news is that it does not have to cost a lot to create a professional website today, as there are a lot of excellent website builders out there for those who do not want to pay for a web design and development agency. 
  • Run a competition – Another way to market your business effectively is to run a competition on social media. People love getting things for free, so you can be sure that they will be interested in entering your competition. This is a good way of essentially getting people to market your business for you, as they will share your competition post with others.
  • Write guest blog posts – Finally, writing guest blog posts to place on other websites and blogs is another way to tap into an engaged and readymade audience. You simply need to make sure that you team up with relevant businesses that have a good domain rating. If you post content on websites that are completely irrelevant to your own, you can end up hurting your visibility, not benefitting it. 

 

As you can see, there are a number of different ways that you can get the word out about your business. We hope that this has helped you to get some fresh ideas on some of the less time-consuming and difficult ways to go about marketing and reach new people. 

3 Benefits Of Working From Home All Mums Will Appreciate

Sometimes, you can get frustrated when working from home. It’s far from perfect, and it can be a bit challenging when you have toddlers or young children in the house with you. Some days, you long for a productive office environment that helps you work more efficiently. 

Nevertheless, you should definitely start appreciating things a lot more. While it has its downsides, working from home will present so many benefits that all mums will enjoy. Want to know what they are? Keep on reading below…

 

More time with your kids

As much as they can frustrate you and make work a challenge, you have to appreciate all the extra time you get with your kids. When they grow up and spend less time in the home, you will wish you could wind back the clock to now. Yes, they can be a handful, but you should look at the positives; you get to strengthen your bond with them, have more time to create memories, and keep them close to you throughout the day. 

 

Save a lot of money

Arguably the best thing about working from home is that you will save a fortune. If you’re a business owner, the money you save from not renting an office can be huge! Not only that, but you can save money on other common daily expenses – such as your car. By not needing to commute to work, you save money on fuel every single day. You also keep your car in the best condition possible, meaning there’s less chance of expensive repairs being needed. If you drive every day, you’re going to wear things down – like the gasket material in your engine, your brake pads, tyres – the list goes on.  

Additionally, you can save money on things like food and clothes as you don’t need to buy them for work. You can wear the same outfits every day at home, and you can buy food for much cheaper when you’re not out in the office. Overall, the savings can be pretty substantial!

 

Make the most out of your day

We spoke about commuting above, and it plays such a crucial role in your day. Most people can spend hours every day commuting to and from work, leaving you with very little time to do anything else. When working from home, you can make the most of your day by having more time on your hands. It leaves you with more free time in the evenings to relax and let your hair down. For a lot of people, this can leave you with a better work-life balance as you’re not rushing around or feeling super stressed. 

 

When you look at it like this, working from home has some pretty powerful benefits that can improve your life. The saving money point is particularly impressive; this can put you and your family in a more commanding financial position, with less to worry about. So, the next time you get worked up about working from home, remember these three benefits!

 

Taking Your Amazing Ideas to the Next Level

The world is full of people coming up with unique ideas every day, and we see them all the time: virtual reality, cloud services, and smartphones. But most ideas stay just that. Most don’t get off the ground. Sometimes it’s due to motivation, but an idea fails to launch most of the time because someone doesn’t understand what it takes to develop an idea into something tangible.

The process isn’t easy. If it were, everyone would do it, right? Even the most talented business people and innovators such as Steve Jobs, Jeff Bezos and Sir Richard Branson employ an army of people who help them develop their ideas into shippable products. 

And here is a quick overview of how they do it.

Concept and Actualisation

A concept is generally thought of as an idea. But it is more than that. When it comes to a product or service, your concept defines your initial idea. For example, you may come up with an idea for a temperature-controlled baby bottle. That’s a great idea. But it doesn’t explain anything. 

Therefore, you develop the concept:

  • Calculate costs
  • List and contact potential investors
  • Appeal to key demographics (new parents)
  • Research IP, copyright and patents
  • Highlight key features

These are all critical criteria that you must thoughtfully manage during the concept phase of your product development. Yet, you then need to develop your concept into a prototype. And the first step to that is to design.

As highlighted in your concept, key features need to be addressed. A reputable product design company is highly beneficial for releasing a great idea and notion into fruition. Working directly with you, specialist teams can design, prototype and manufacture your product to your specifications.

Marketing Strategies

The best innovative product in the world is useless if nobody knows it exists. This is where marketing comes in. Following your excellent concept development and professionally designed and manufactured, you need to move your stock. To do this, a solid marketing infrastructure must be in place so that retailers and individuals alike can make orders for you to fulfil. Thus begins your actual production. 

But marketing is an industry unto itself, and unless you are incredibly talented, you will have trouble launching a product. Fortunately, the world is full of marketing experts, and one of the most exciting subsets is digital marketing. As you might have guessed, digital marketing focuses efforts on internet-based sales. Some examples include:

  • Email marketing
  • Social media campaigns
  • Website and blog design and development
  • Search Engine Optimisation (SEO)
  • Digital advertising (banners, ads, etc.)
  • Pay Per Click (PPC) campaigns
  • Influencer marketing
  • Mobile optimisation

In a world of digital information and excessive internet use, this type of marketing outperforms traditional and established methods. So much so that over 90% of businesses include digital marketing techniques as part of their overall strategy, and 58% use digital marketing alone. 

Traditional methods include TV, radio and newspaper/magazine advertising. These ads have their place, but they are usually expensive, where some digital marketing methods cost almost nothing.

Commercialisation

With a solid marketing plan in place, you need to bring your product to market. The process is complex, with multiple layers. However, it is known by its umbrella term as commercialisation. At its core, commercialisation aims to get a product from A to B. A being manufacture, B being the end-user. But there are many steps in the process, such as:

  • Manufacture
  • Marketing (which has been covered)
  • Order fulfilment
  • Shipping
  • Order reception

And the cycle continues based upon orders and your ability to fulfil those orders. Each step in the process is dependent on the previous step. For example, it is not advisable to manufacture products without a demand. This will cost money and could end up becoming deadstock. Or there’s no point in marketing a product you are unable to fulfil. 

Of course, this is a blanket view of commercialisation, and each step also has sub-processes that are complex in terms of logistics.

 

4 Ways to Build Mutually Beneficial Business Partnerships

Attaining enviable success as an entrepreneur is not an isolated affair. Instead, it takes a great deal of hard work, commitment, and, most importantly, strategic partnerships to reach that height. Mutually beneficial relationships are the primary driving tools of business operations and, therefore, must acknowledge the significant role. With six million private sector businesses established in the UK, there is no doubt about the number of strategic relationships that take place. Apart from drawing attention to your business, you will be smiling at the bank. For more information on how to go about yours, find out more from the discussion below.

Identify suitable business partners

When you’re already running a business, there will come a time when you need a strategic partner to buy into your ideas and products. The question now is, how do you identify them in the first place? That potential business partner must have values and goals identifiable with yours. Secondly, their business operations should be one with the potential to make excellent use of your product(s) for mutual benefits. Do not forget that as you evaluate your possible business partners, they will also be working in the background to learn every relevant thing about your company too.

Additionally, remember that it’s not always about the metrics and how much revenue a potential partner brings in. On the other hand, a good reputation and brand image are pivotal in your decision-making. If your business partner has a terrible reputation, it will, without a doubt, affect your company’s image too. That explains the need to set clear criteria for what you want to be associated with your establishment, regardless of how much revenue they can give you.

Conduct a thorough investigation of their abilities

What is your business partner bringing on board? How have they manoeuvred challenges in the past for the greater good? Again, what do you know about their previous and existing relationships with other business establishments? Before signing that partnership deal, there is every need to be aware and convinced of their abilities and business prowess.

The last thing you want is to transact business with an establishment that is all talk but nothing to prove it. In essence, a good track record must feature prominently on your list before starting your business marketing activities with them. Keep in mind that you have every right to ask for evidence of success claims they report. You must clear the path for your products to be beneficial to the other business.

Ensure your product is of excellent quality

Before embarking on B2B marketing, you must be sure of the quality of your wares or business products. Don’t rely solely on how much you stand to gain without considering the prospects of repeat business. As B2B marketing expert Alex Croucher puts it, it is crucial to grow your pipeline and concentrate on developing more leads. Indeed, the more leads you have, the better your chances of selling more of your products to them. Keep in mind that no company has survived for long by selling inferior quality goods to discerning enterprises.

In other words, you have a responsibility to be honest about your products. This is very true of overzealous entrepreneurs who promise the moon about their business products. Instead of riding on deception, be clear and concise about what your product can do without making it sound like the next big thing ever to hit the market.

Keep open communication lines

Effective communication is the lifeline to successful business partnerships. Without it, not much can be done. The guiding principle is to nurture these communication lines to keep information flow smooth and unhindered. Apart from the regular invoice and formal communication activities, experts recommend going the extra mile to keep the vibe. For example, keep your marketing communication open with your strategic business partners.

Additionally, send regular emails in connection with work without forgetting to ask for feedback about your products. You do not have to wait for them to initiate that call. As a business, you will be projecting your establishment in a better light. Even better, the other companies you do business with will have a positive image of your entity. Again, be deliberate about sending gifts or thank you messages during festive seasons. If it helps, during such festivities, you can offer discounts to the buying company. All these things help nurture communication and your marketing relationship.

Also, do not forget to conduct market research about your product. The reason behind this is to hear from the end-users themselves and not necessarily from the buying company. Hearing from the ‘horses own mouth’ can provide a better perspective on what you’re offering.

4 Small Things to Make Your Home-Based Business Look More Professional

So, you’ve decided on a business idea that you know has all the potential in the world, now you need to fulfil it. The problem is that small businesses, especially those that run out of your home, can find it difficult to get off the ground. If not done right, they seem amateurish, especially when there are other businesses to contend with. How can you make your small business stand out then and stay within your budget? Here are four small things that can help. 

 

Prompt Replies

Communication between the company and the client is key in business, and if you want to appear more professional, you must make sure you are prompt when responding to emails. This not only shows that you are organised, but it also demonstrates that you care about their business. No one wants to wait five days for a response, and if you wait this long, the customer may look elsewhere. Instead, be sure to respond as quickly as possible. Ideally, this should be within the hour, but if you make it a policy to respond within 24 hours at the most, you will prove your worth as a business owner.

 

All The Information

Small businesses rely on word of mouth, especially in the early days while they are still trying to establish themselves. However, this word of mouth is not possible if future customers cannot find any information about your business. You must take advantage of services like Google My Business to detail your phone number and email address at the very least. If you’re working out of your home, you may not want to include a physical address, but a PO Box is effective for receiving mail.

 

Branding

You must establish a brand that people will automatically associate with your business. This brand can include a logo for your social media pages and your website, but you can do more than this. Using Label Printing services can make your company look the part when you send packaged products to clients. Rather than scribble their name and address on the envelope, a branded label will make your company look bigger and more professional than it is, which make them feel they are working with someone reliable, increasing the chance of future business. 

 

Professional Photos

Okay, perhaps not professional photos, but good quality photos are essential for your company looking like it means business. You can use your smartphone camera to take photographs of products considering how good the resolution is now, and it’s also worth investing in quality product photoshoot equipment. The same goes for your website photographs, especially on your About Me page. As for the rest, you can get away with stock photographs from websites like Unsplash or Pixabay to save you some money but still get a truly professional effect. 

 

Looking The Part

Your business must look the part if you want to get ahead and appeal to customers that will help you grow. With these small but effective steps, you’ll have no trouble establishing your company and looking more professional. 

 

How To Manage Your Business as a Busy Mum

Work-life balance is a popularized phrase. When people use this term, they typically mean the proper and healthy balance between work and life outside of work. The question then becomes: what does it take to achieve such a balance? Keep reading for some of the elaborate ways to accomplish this.

 

Have an Elaborate Work Plan

An elaborate plan will help you stay on top of the situation as an Amba and allow for smooth execution. First, identify the key activities and tasks that need to be completed to get things done efficiently. To do this, think from all angles and don’t forget about long-term goals and short-term ones. Next, create realistic deadlines for each activity or task based on its criticality and importance in achieving these goals. Finally, always keep an eye out for new opportunities.

Further, keep changing priorities based on circumstances; don’t get stuck into fixed ideas about what should be done in what order. Finally, ensure you use technology to help you stay organized and save time.

 

Outsource Some of the Operations

A business mum does not have to be everything. There are times when you need to step back, delegate duties and let someone else take charge of the work so that your energy is conserved for what you do best. This can include delegating tasks like customer service, accounting management, or even social media marketing.

Also, outsourcing some operations will help you concentrate on the most important ones. It will also help you save time, money, and energy, as it will provide you more time to focus on your business areas of expertise.

 

Equip Yourself With a Good Management Team

To run a business smoothly, communicate with your team regularly and have a good management team. It would be best to have people who could handle your tasks and operations while building the company. Furthermore, it would be best if these people are someone you trust because they might have access to sensitive information about your company, which will jeopardize both of you if they decide to leak this information. 

Having an enemy now could cost not just your personal life but also ruin everything that has been built so far by both parties. To equip yourself with the right kind of manager, hire only those who have proven their capability through years of experience within an organisation or industry.

 

Value Quality and Efficiency

Quality and efficiency are two crucial factors to keep in mind when running a business. While the need for quality is evident, you need to avoid rushing through actions that will be detrimental to the business long term. This will help your company save money and time, leading to greater profits down the line.

 

Conclusion

In conclusion, running a business as a mum is a challenge. However, it is possible to do so by following some of the tips mentioned above. You can start by having a workable plan and hiring an efficient management team as you improve on other bits of the business.

Mumpreneurs: 8 Things Your Customers Really Want From Your Business

Businesses prioritize meeting customer needs and expectations. According to many business leaders, offering excellent customer care is one of the best strategies for gaining a competitive advantage. However, the business environment is crowded, with many companies and customers. This aspect makes it hard to understand individual needs. As a mompreneur, what do you think your customers need? What do they expect from your business?

To win customers’ minds, hearts, and pockets, you have to place a great emphasis on what customers want. Here are things customers want from your business. 

 

New ideas and perspectives

Customers cannot come up with solutions for their problems. That is why they come to you to find something to solve their issues. Offering a new perspective and idea is the best way you can use to win them. It is all about bringing something new to the table.

 

Quick deliveries

Nobody wants to wait for ages for their goods to be delivered. Offering quick deliveries is one of the best ways to meet customer needs. Think about ways to make Parcel Delivery faster so that they can get what they buy in time. 

 

PERSONALISED experience

Whether you offer self-service or online shopping, customers always want services tailored to meet their individual needs. Ensure you personalize your services, communication, and products. This is a way of enhancing proper customer relationships. 

 

Options for contacting you

Customer satisfaction stems from the services you offer, related to how well you interact with them. In a nutshell, customers want ways to keep in touch with the business every time they have an issue. Additionally, customers expect seamless communication with your customer service representatives. 

 

Quick response

It does not matter where you are. Whether in the store or online, you have to respond to customer concerns promptly and honestly. You ensure your channels are configured to guarantee timely response and reduce wait time.

 

Your time

Your customers want you to dedicate your time to them. They want you to listen. For instance, you should not collect feedback if you are not ready to act on them. Consumers currently have a loud voice, and you should listen before your competitors do. Take action for every feedback you collect. 

 

Consistent answers

Above everything else, customers want consistency. Most customers cite inconsistent answers as one of the most frustrating things about a business. If you have multiple response channels, ensure everyone is on the same page regarding your products and services to give consistent answers all the time. 

 

Superior value

How does your price compare to other offerings in the market? You have to prove that you offer the best value for customers to consider you instead of your competitors. Regardless of what you offer and your price points, you have to ensure you offer value for money. 

 

The bottom line

Do you take time to understand what your customers want? This should be your primary focus as a business owner. Find out what they want and how they want it to gain a competitive advantage. Involve customers in product design and purchasing process to give them an easy time doing business with you.

 

These 3 Things Are Stopping Your Home Business From Making Money

Starting a home business is great as you can run a business without leaving the house. Many ideas lend themselves to this concept, and they are perfect for mums that want to earn money while still being able to look after the family at home. You’ve got yourself a great business idea, and you have set up your home business. However, you seem to struggle to make money when you look at your profits every month. While many things can factor into this, here are three that could be preventing you from earning what you deserve:

 

Excessive running costs

Believe it or not, but many home businesses can have excessive running costs. You assume that it costs nothing to run a business from home, but that’s not the truth. The key culprit is your energy bill, which will go through the roof when you run a business. You use up loads of electricity working on a computer all day, but you can also use up more gas energy as well because you’re in the house and want to feel comfortable. 

Therefore, you need to work on lowering these two running costs. Find things like spray foam insulation to make your home better at retaining heat, negating the need to keep your heating on all the time. Use eco-friendly equipment to lower electricity costs, and you should save a fortune. 

 

A large tax bill

At the end of each fiscal year, you have to pay tax in one way or another. This can be via a self-assessment, or you might pay corporation tax depending on how your company is set up. In either case, your profit margins can decrease when you fork out a hefty tax bill each year. 

Consequently, you can tackle this by learning how to legally reduce your tax bill. Certain things can be put down as business expenses, which get deducted from your final bill. It is well worth learning what you are allowed to put down as an expense as it can help you save a lot of money. Thus, your profit margins open up as you are spending less cash. 

 

Poor marketing

Home businesses can struggle to find customers as they might rely on one form of promotion. Typically, this is word-of-mouth marketing, where you get friends and family to spread the word. When you receive customers/clients, you hope they further spread the word about your business. 

This should form part of your marketing strategy, but you need to implement other means to generate more interest and find more customers. Set up a website and improve your SEO, get on social media, use local SEO as well, try digital advertising – the list is endless. If you have a strong marketing strategy, your business should make a lot of money. 

Yes, these three things are something of a generalisation and your business might not suffer from them. However, there’s a high chance at least one of them could be the reason your home business is struggling to maximise its potential.