Some people think starting a solopreneur business when the economy isn’t thriving, is just crazy. I believe the opposite; because it can provide you with income you didn’t have, savings on items you need to work your business, and bring you untold independence as a business owner. There are times when economic times make running your business challenging, there isn’t a single solution to use to help steer your business through difficult times. If you think your business is taking on water there a few general helpful things you can do to help stay afloat.
- My first action would be to get busy creating business. Create a call strategy for reaching your target market. It is also a time to consider alternative markets. Staging is a recession proof business when you look at it. No matter what the economy is doing the service of real estate chugs on- sometimes slower than others but preparing property for sale is a vital marketing service which must not be forfeited in a rush to put a house for sale on any market.
- CASHFLOW: in good and not so good times cashflow is crucial. If you are experiencing diminished cash flowing into your business, brainstorm where money can be pulled from. Line of credit? Short term loan from a family member? Crowdsourcing friends and family? Sell off some inventory? Get on the phone and generate some business!
- Try to be objective and look at the big picture. First know the situation you are in can change in a flash, what goes up must come down.
Start with an inventory and evaluation of each service you provide and see which are truly profitable and those you can jettison. That goes for every aspect of your business, by doing a SWOT analysis approach to various aspects of your business you will see where to be ruthless and where to reconfigure how things can be done better.
- Did you do a business plan when you started, if you did then review and tweak it, if you didn’t start one now. Think of it as an insurance plan to protect your future business. Business planning includes marketing and financial plans. Trying to run a business without a plan is like trying to swim in a desert.
- Trying to free up time to do more for money services? Do you have your business running with a business software? (Zoho One – CRM, Inventory, Sign, Social, Appointment Booking Calendar, Email Marketing – even a Website Builder & much more) – Learn More & Get a Free Trial here ) not only will it save you time, you will also have at a glance analysis alerting you of trends within your business.
REMEMBER: “Success is like a snowball… You gotta get it moving and the more you roll it in the right direction the greater it gets.” – Steve Ferrante”
There is no better time than right now to take the plunge if you are interested in starting a home staging business or training a team member to be your in-house stager at your brokerage. Contact me, Christine Rae today to learn more! Or request our information booklet to become a home stager and start your real estate staging business with staging certification from CSP International™!