QUESTION: I’m interested in running a business from my home and I was thinking about perhaps a mail order business or eBay business. How is an at-home based business different from other types of businesses?
ANSWER: Well, the obvious perk is that the commute is non-existent.
As always, you will follow the three principles: First, offer a quality product or service that the market demands and charge a fair price. You will have to depend on your research to find a product or products that are suitable to mail order or Internet sales. You will have to determine an appropriate price which includes, but is not necessarily limited to, your wholesale costs, advertising, postage, office expenses, salaries with benefits, and profit. You will have to test various ads in various publications and websites, or you will have to buy a snail mail or email list. Your next steps will be fulfillment of orders and accounting.
Next, if you intend to receive repeat sales, don’t forget to apply principle two and appreciate your customers by acknowledging orders with a thank you and by asking for more business. You will want to offer follow-up products to supplement your original offering.
Lastly, apply the principle of copying success by finding successful mail order companies so that you can copy their strategies. If you are going the eBay route, there are many books, courses and even eBay conventions.
