Improving Your Working Life and Skills

TIME MANAGEMENT

For both the novice and the experienced businessperson planning a small home-based enterprise, a major concern is time management. It is very difficult for some people to make and keep work schedules even in a disciplined office setting. At home, as your own boss, the problem can be much greater. To determine how much time you can devote to your business, begin by drafting a weekly task timetable listing all current and potential responsibilities and the blocks of time required for each. When and how can business responsibilities be added without undue physical or mental stress on you and your family? Potential conflicts must be faced and resolved at the outset and as they occur; otherwise, your business can become a nightmare. During the first year of operation, continue to chart, post and check off tasks on a daily, weekly and monthly basis.

Distractions and excuses for procrastination abound. It is important to keep both a planning and an operating log. These tools will help avoid oversights and provide vital information when memory fails.

To improve the quality of time for work at home, install a separate telephone line for the business and attach an answering machine to take messages when you do not wish to be distracted or are away from home. A business line has the added advantage of allowing you to have a business listing in the phone book and, if you wish to buy it, an ad in the classified directory.



OUTLINE FOR A BUSINESS PLAN

The following outline is suggested for a small proprietorship or family business. Shape it to fit your needs. For more complex manufacturing or franchise operations, you will want to do further research on the specific industry that interests you. Check the Information Resources section for places to start your research.

Cover Page

The cover page should include the following:

* Business name.

* Street address.

* Mailing address.

* Telephone number.

* Month and year in which plan is issued.

* Name(s) of owner(s).

* Number of the copy.

Statement of Purpose

* Why will your business succeed? Promote your idea! State:

__ How and why your business will be successful.

__ What is unique about your business.

__ What your business's niche is.

* What is your experience in this business? If you have a current resume' of your career, include it as an appendix and refer to it here. Otherwise write a narrative of your experience here and include a resume' in the finished product. If you lack specific experience, detail how you plan to gain it, such as training, apprenticeship or working with partners who have experience.



What Is Your Sales Plan?

Describe how you will sell, distribute or service what you sell.

Be specific. Some common practices are outlined below.

Direct Sales

Direct sales are made by telephone or in person. The tremendous growth of individual sales representatives who sell by party bookings, door-to-door and through distribution of call-back promotional campaigns suggests that careful research is required to be profitable.

Mail Order

Specialized markets for mail order products have grown as more two-income families find less time to shop. Be aware of recent mail order legislation and regulations.

Franchising

You may decide to either buy into someone else's franchise as a franchisee or create your own franchise operation that sells rights to specific territories or product lines to others. Each option will require legal, financial and marketing research.

An excellent starting point if you are considering franchise involvement is the SBA publication Evaluating Franchising Opportunities. The International Franchise Association (IFA) also publishes a number of valuable aids in this field. Write to them at 1350 New York Avenue NW, Suite 900, Washington, D.C. 20005.

Distributors

You may decide to work as a local or regional distributor for several different product lines. Outline your sales plan below.

What Is Your Advertising Plan?

Each product or service will need its own advertising strategy as part of a total marketing plan. Before developing an advertising campaign for your business, review a few basic assumptions. By definition, advertising is any form of paid, nonpersonal promotion that simultaneously communicates with a large number of potential customers. The purpose of advertising is to inform, persuade and remind customers about your company's products or services. Every advertising activity should have specific goals. Common examples are

* To bring in sales orders or contracts.

* To promote special events, such as sales, business openings or new products.

* To bring in requests for estimates or a sales representative's call.

* To establish yourself before start-up and to get potential customer feedback.

Initial forms of advertising might include one or more of the following:

* Purchase and distribution of business cards to potential clients.

* Posting notices on free bulletin boards in area supermarkets or office complexes.

* A telephone survey of potential clients to alert them to your start-up plans.



This incredibly long and boring unabridged report can be found at: http://www.sba.gov/library/pubs/mp-15.txt

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