How Long Should You Hang Onto Your Home-Based Business Dream?Written by Vishal P. Rao
A home-based business becomes for business owner, an entity in and of itself. Because so much hard work, blood, sweat and tears goes into every home-based business, it is easy to view it as having a "life" of its own and a home-based business can be more real to business owner than anything else in their lives.However, there is also a dark side to a home-based business, especially one that is failing miserably. Part of being successful within a work-at-home dream also means knowing "when" to quit, or "fold". A home-based business can be like a game of cards, when "losses" exceed "wins", it may be time to give up on business and either start another one, or look into other forms of outside employment. It has been said, "that most entrepreneurs fail three to five times" before they actually start a business that succeeds. Although it is imperative that entrepreneurs be persistent, not being able to accept failure, when it is obvious that failure has occurred, can be extremely detrimental. So, how does an entrepreneur "know" when it is time to give up or when they should continue? Simple, amount of actual "suffering" needs to be measured. The following "suffering measurement" should take into account: 1. What type of debt entrepreneur is accruing, and how many bills and necessary needs are being neglected. No one should live without food, clothing, shelter or necessary medical care needed for a gratifying life. If a home-based business is constantly leaving business owner without funds with which to sustain life, then it is probably time to quit. 2. What type of emotional pain is entrepreneur facing? If business has become so stressful because of mounting debt, or entrepreneur's family is turning against them because of business, then it is probably time to quit. 3. If there is a chance of losing a home or other holdings and property because of bills engendered during business, then it is probably time to quit. 4. If frustration of having business and handling day to day operations surrounding business is greater than pleasure of owning business, then it is probably time to quit.
| | Marketing Tips from Successful CraftersWritten by Eileen Bergen
From feedback I have been getting in short time since I started TheArtfulCrafter, I’ve learned that many of my readers are working long and hard at their crafts, but still are having a hard time realizing success. I don’t pretend to have all answers. There is just too much going on for one person to be able to solve all your problems. However, let’s break it down into two parts and then try to apply basic business solutions to each part. The Product I’m a pretty good cook. I’ve won awards from my local culinary arts society and have even been invited to give a lesson or two. However, when I try to make a new recipe, especially from some of most popular food and lifestyle magazines, I am usually very disappointed. Why? In my opinion it is because something is usually missing, either from ingredients or instructions. Now you’re saying to yourselves, “what’s this got to do with anything?” Well, most crafters are constantly searching books, magazines and web sites for free patterns. Like “free recipes” noted above, however, I think something is always missing. Simply put, best crafters are not going to give away their best designs for nothing. Much of what you get for free can be helpful, but only as a starting point. You would not be reading this article if you weren’t interested in selling your craft. Now put yourself in buyer’s position. Is she seeing exact same craft made over and over again made by different people at same show? If she is, only reason she will buy from you is if your price is lowest. So let’s try to do something to differentiate you – to make a common pattern special – to make it you. Oversize it or miniaturize. Use metal instead of wood, or wood instead of plastic. Change designs slightly to make craft prettier or more practical. Instead of painting on a design or applying a decal, add a carving or incision that adds texture and dimension. Use your imagination and sense of creativity. Always use best materials and methods of manufacture. If you shop carefully, you can get fine supplies either on sale or in clearance bins. Many online sellers are offering same supplies you see in stores for 40% to 50% less. The quality of your materials is one of first things a buyer will notice. Don’t turn her off by using cheap, chintzy materials. Do same with your manufacturing methods. Are your seams straight and even? Did you use a nice copper braid, even when glue would do? Is you paint or stain evenly applied and unstreaked? For every craft, there is always some extra little touch that shows you’re a pro – that your product is worth more than guy’s at next table. These steps might take you a little longer at first, but once you get rhythm down, you’ll find it really adds little to time and cost of making your craft. Once you get this far, you face more daunting problem… Marketing When you are trying to sell a product, you’re up against a whole universe of retailers, not all of whom are crafters. There are millions of products for sale in all price ranges in all sorts of different venues. How do you sell yours? I have said this before, but it is worth repeating: in this age of mass production, where every store in every mall seems to be selling same thing, people have an appreciation for unique handmade product that required more than movement down an assembly line. If you followed some of tips in first part of this article, you are already a step or two ahead of field.
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