The 3 ‘Ps’ That Grow Your Home-Based Business
With around 2 million freelancers in the UK, it’s no wonder that more and more self-employed individuals are looking for the best solutions to launch their business.
Indeed, many startups and small businesses are the result of a freelancer deciding to grow their business presence by setting up a company. Needless to say, when you choose to create a company, you will need to decide very early on essential administrative factors, including the name of your company — which needs to be available in the Companies House and also as a domain. The types of your company is another decisive factor, whether it’s going to be an LTD, LLP, or even a PLC. But these elements, while essential to the existence of your first company, are no guarantee of growth. Transforming your home-based freelancing enterprise into a real business takes a lot of dedication and effort. But thankfully you can find guidance in the 3 ‘Ps’ of business growth.
#1. Premises, premises, premises
When you finally decide to transform your home-based freelancing business into an official company, the first thing you might want to look at is office spaces and/or a warehouse to rent, depending on your activities. Ultimately, once you choose to grow your professional presence, you need to have a place for your team. For digital products, the team can focus on remote working options, but if you offer a different kind of product or services, you’ll have to look for a common location to bring everyone together. Be cautious: the choice of location can make or break your business. As a rule of the thumb, warehouses are expected to be on the outside of large urban areas, so that items can be shipped and delivered quickly. Offices should be based in town, where both employees and clients can commute easily.
#2. Professional structure
It can be challenging to launch a company from a freelancing background without being taken lightly. But you can establish a professional presence that can make critics forget about your home-based beginnings. Ultimately, you can’t afford to let your business appear home-made, that why you need to use a business address, or a virtual address if your company prefers remote work. Additionally, you should outsource customer-facing roles to ensure your team can focus on developing their talents. Indeed, your customer service has to be top notch, and this can be tricky when you’re investing your energy on building growth.
Finally, get people talking about your business. What do you have to offer? Why should they care? You can address all these questions and many more through a press kit that can spread the word about your activities. Thankfully, if there’s one thing the digital revolution has brought to new entrepreneurs, it’s the benefit of a digital press kit in which you can refer blog articles, online publications and even social media mentions. Your press kit is a powerful tool to build a network of press advocates. Do make sure it refers to your story and your team, as well as your latest press releases so that reporters can download the current version with a click.
Premises, professional structure and publicity: these 3 ‘Ps’ build the path to success for home-based freelancers who launch their first company. Naturally, you need a talented team, excellent offering, and strong market knowledge to make it work too. But your ‘Ps’ are at the core of business growth.