qprev_HBB Manual 2.qxd - Small Business BC

Plan for changeAn “ideal solution” that uses technology that isspecialized to your business may not be as reliablein an e-commerce world as a solution that usescommon technology.Twenty reasons to use the Internet as agrowth tool1. Reach a worldwide audience.2. Do business with an affluent market.3. No barrier of time zones, you are open 24hours/day.4. Reach consumers when they are ready to buy.5. Open a new channel of distribution for yourcompany.6. ...Or sell products only on the Internet.7. Offer lower costs to consumers and beat thecompetition.8. Beat competition to new markets because theyaren’t online.9. Make additional sales more easily.10. Create cost efficient catalogues that are longon details.11. Low cost of doing business.12. Low cost of entry.13. No or low rent.14. Interact with customers.15. Engage the senses by using audio, video, andmultimedia to create relationships and sellproducts.16. Conduct market research online.17. Find out competitive information.18. Provide quicker customer support.19. Decrease cost of printing and distributingmarketing materials.20. Reduce warehousing costs.Consider Leaving HomeWhen will you know if your business is ready toleave home? Do you know whether you want to?Starting a business at home may be the only wayto start a business at all. Keeping a business smallenough to continue operating from your homemay be a goal, or you may welcome growth andexpansion. Ongoing evaluation and regular reviewcan help you recognize when you’ve outgrownyour home base and are ready to move.Your business plan is invaluable here, too. Canyou afford the additional expenses of moving to acommercial or industrial location? Have you builtit into your pricing and profit use? Can you justifynot moving? As part of the assessment process,talk to the key people you’ve involved in yourbusiness to this point: family, banker, bookkeeper,accountant, insurance agent, industry mentor orbusiness consultant.Use the contact networks you’ve developed,especially suppliers and shippers. Would a changein location mean a change in relationships you’veestablished with key suppliers? Ask customerswhat a change from a home base to a commercialbase might mean to them.The decision to move from a home base to acommercial location shouldn’t be made in anoptimistic or pressured moment. With the samecareful research and assessment you’ve used toget the home-based business established, youshould be ready when the time is right.Use Your Business Plan to EvaluateTackle the issue of staying or leaving as one partof a regular review of all aspects of your business,its goals and its future. Your business plan can bethe basis of such re-evaluation in two ways. Use itsolutions for small business home-based business 103