Growing Your Home Business

Back in 1995, I never thought my home-based business would grow into The Dalbey Wealth Institute. But it has. And I want you to know – anyone could duplicate my success or go way beyond it. Everyone starts small initially, but where it ends up is up to you.

Once you’ve got your home business up and running, many of you may reach a point where you’ve hit a plateau. At the beginning of your venture, your income stream might be inconsistent – maybe you’re working all hours just to get your business off the ground. Once you’ve gotten past that initial period, you may find that your business has stopped growing. After all, there is only a finite amount of time that you can put into it, especially if you’re working full-time or have other obligations.

Create a Business Plan

To grow your business further, start by creating a business plan that makes it clear where you want your company to be, by when, and how it’s going to get there.

It's always helps to have a roadmap for your future. Also, take a good look at your finances and see what money could be reinvested so that your business can generate even greater profits.

Get Help with Time-Intensive Tasks

If you feel like you’re “maxed out” on the amount of time you have, you might want to look into hiring an employee to help you. Hiring somebody on a part-time basis to take care of the time-intensive work that needs to be done but doesn’t result in increased revenue can dramatically improve your bottom line. This is especially true if your marketing involves a significant amount of time-consuming phone prospecting.

With your advanced business skills and experience, your time may now be your most important resource! By freeing yourself up to do the more critical tasks that really bring in the profits, you can grow both your business and your profit margin. You'll probably have more fun with your work and be more relaxed as well.

Get Help to Generate More Profits

Let’s say your business advances to the next level, but even with someone doing all your cold calling or “light work,” you find that your profits have again stopped increasing. Well, as problems go, this is a good one to have!

The answer might be to hire someone to do some profit-generating work. This may be a more difficult cost to swallow, because a skilled assistant will usually command a higher wage than administrative help.

One way to make sure that you’ll have the right person to advance your business is to find people with the same entrepreneurial spirit that you have and allow them to make commission. This will guarantee that your new employees will work hard to generate profits for you and provide the motivation to keep your business on the right track – towards bigger and better things.