8 ways to expand your home-based business

With changing times, home-based businesses have grown leaps and bounds. More people are opting for home-based businesses because it is convenient and by staying at home, people get more work done and save time on travel. However, even if it is a business from home, one needs to work very hard to expand it and get customers.

Here are a few ways in which you can expand your home-based business:

1. Tap more social media platforms

To expand and grow your business further, try and tap more social media platforms available- Facebook, Twitter, Instagram, Pinterest, Tumblr etc. The more you grow your presence, the more you can reach out to people. The more you reach out the people, the more you will be able to expand your business. A lot of popular businesses have existed and grown by using social media to the fullest.

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2. Add more options

To grow your business, add more products and services to your availability list. This might seem like a relatively easy option but it isn’t. You need to research what your customers actually need before introducing new products to the list. Along with the availability of more products, your job also increases as you need to price the goods and make them available to your customers.

3. Hire more employees

Once your business starts growing, you need to make sure there are enough hands on the deck for smooth running of your business. You might eventually need help so don’t shy away from hiring more people and growing a team. Hiring freelance specialists and interns will help you with delegation of tasks.

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4. A dynamic website can do wonders

Even if your business is based offline, it is still important to have a website to build a digital presence. But, just creating a website isn’t enough. You need to keep updating it to keep it dynamic. You need to pack your website with revolutionary content like blogs, articles, videos etc so that more people can connect to your website.

5. Try new markets

Don’t stick to just one market; build secondary and tertiary target groups. For instance, if your product is directed towards the youth, try and build presence amongst teenagers and bachelors as well. This will help you cater to a bigger customer base and sell your product more leading to profit maximisation.

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6. Mergers and partnerships

Just because you run a home-based business doesn’t mean you cannot create new mergers and partnerships. Building partnerships will give you access to a greater customer base.

For instance, if you own a baking business which you run from home, you could always tie up with food listing sites like Swiggy for a better outreach and more orders.

7. Try new marketing methods

As a business you want to expand, you must be willing to try new marketing methods to create awareness about your product or service. You cannot restrict yourself to just word of mouth or social media for promotion. Try sending out e-mailers, SMS-es, flyers, hiring campus ambassadors etc to promote your product. If you have no idea of how it is done, hire a freelance marketing consultant to do it for you.

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8. Referrals

This is a concept which has caught on like wildfire lately. Ask your existing customers to refer your products or services to more people. To make this process more dynamic, you can offer some sort of benefit to the existing customer everytime a referred person makes a purchase.

Image credit: http://www.thebetterindia.com/

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