How to Operate a Home Based Business(travel)

Operating a home-based business can be a challenge. Below are guidelines I use for my home-based travel business, but can be used for any home based business.

Difficulty: Moderately Challenging

Instructions

Things You'll Need:

• Understand your customers
• Some bookkeeping skills
• Time management skills
• Organization skills
• Patience
• A printer
• MS Excel or a log book(notebook)

1. 
    

   Establish/know your target market. During the end of the winter I start marketing to college kids for spring break. Do your research by typing in “spring break locations” into a search engine. Personally, I like to pick 5 locations to focus on (don’t kill yourself trying to satisfy everyone). Here is my target market breakdown by season. Spring: College kids, Summer: Family vacations, Fall: Family reunions and Winter: Holiday travel. Knowing your target market is a fundamental that applies to all businesses.

2. Marketing is the most important skill needed in running a successful business. No matter how good something is, if it is not marketed correctly, it will not sell on its own. Marketing brings in new customers and retains existing customers.

3. Educate yourself on your competitors. The major difference between you and your competitors is your ability to go the extra mile for your customers. When you call Expedia or Orbitz you have to wait forever for someone to answer with the likelihood of being transferred to another department. With your home-based business all the information is right at your fingertips.

4. 
    

   Make sure to keep track of business expenses (meetings with clients, a trip to the store for supplies, mileage on your business car and etc). Your log book or MS Excel will do the trick.

5. 
    

   Time-management skills are important to have when running any business. Knowing how to prioritize is very important. I check everything based on time sensitivity. I create a spreadsheet in MS Excel and write down what has to be done during that hour. If I have spare time, I try to get started on the next thing. I make sure that when its 6:00p.m everything is shut down. I may write on a “post it” if I remember something after hours, but that’s it. Remember you went into business for yourself to be in control, make sure you keep it that way.

6. 
    

   Organizations skills are as essential as time-management skills. Organization makes things run smooth and efficient. In my email I have folders for everything (I created folders for my different target markets [College kids, Family vacations, Family reunions, Holiday travel]). This allows me to advertise effectively without sending the wrong information. I have created a detailed profile of my customers in MS Excel.

7. Make sure you follow your guidelines. The easiest way to lose customers is changing to often (Make sure you have office hours and stick to it. Try not to get ahead of yourself with adding things to quickly). I primarily use email as my main source of communication, it allows for me to send visual information. If I tell you I’m sending you to a beautiful island, wouldn’t you like to see it?

8. 
    

   Have fun. Make sure when you are on vacation you keep it that way. No business calls.

Tips & Warnings

• As your business grows your organization and time-management skills determine how well you can sustain growth. You do not want to have a ceiling on your business potential.
• Attention to detail takes you to new heights. (Warren Buffet knows all his businesses inside and out)
• Success takes time, be patient. If you have to take a break then do so, but DO NOT QUIT!
• If you are interested in a home-based travel business, check out my article “how to find a good home-based business”.
• Print this out if you have too.
• These steps provided are what I use to run my business. You can use this article as a measuring stick. Everyone has their own way of running their business. Do what works for you!