Just before you start your business, What do you know?

Hello folks!
Last time, I shared with you a powerful piece on the need for stay at home women to start their business. If you missed it , see it here.
 Well, henceforth, I promise to share with you several businesses that women can take advantage of to earn money so keep a date with me every week. "...wink, wink"!

Anyways, just before you start that business, what do you know? What are those little areas that should be covered?Of course, you know you shouldn't jump in & jump out of business like a visionless person!! No! Never! Its forward ever always!

Before starting your home based business, here are a few things to note:
1. Company name
The very first decision I guess you will make is that unique name to call your business. Your name should describe what you offer.

2. Skill
Do you have the right skill for the product or service you want to offer? Imagine buying a cake from someone only to find that the middle of the cake is still uncooked?  No way! You surely won't patronise her again. So, firm up your skills. Be sure of yourself and head over to make your business public.

3. Target Customers
Who will you sell your product or service to? In order to make money from your business, someone will need to buy your products or services. Market research is necessary towards starting a successful business, so before you invest a naira, make sure you know who will buy from you, what they like and want. Immediate customers can be family members, worship members, mothers of your child's schoolmates, fellow antenatal class members and so on!

4. Marketing Strategy
Ok, so you have mapped out WHO to sell to but HOW do you intend to sell your products? Word of Mouth? Social Media? Facebook, Instagram, BBM are all good ways and avenues to sell your products. You can even invest in flyers to further promote your business. Be careful though not to shove it in people's faces that you have suddenly become a business woman! 

5. Adequate Price
Oh yes! Adequate pricing is key. This depends on the prevailing market rates, the value of your product and what your competition is also  offering. You need to really research on this and come up with a reasonable price that will cover your  expenditure. Of course, you need to make profits!!

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