Learn from Martha Stewart’s success

It’s always great to get tips from those in the industry who are successful.  Just a few years ago, Martha Stewart was ranked in Forbes Magazine as being worth over $970 million.  Her self-made business, Martha Stewart Living Omnimedia, started from scratch.  She now does television commercials, has her own television show, as well as home furnishing products throughout multiple department stores. 

While Martha was incarcerated for insider trading, Martha had met with other prisoners interesting in starting their own businesses.  They asked her advice on how to start your own business.  Talking with them inspired her book, “The Martha Rules: 10 Essentials for Achieving Success as You Start, Grow, or Manage a Business.”  We wanted to share some of her tips.

1. Build your business and your success around something you love.  If you find something that you think is going to make you a ton of money but you aren’t very interested in it, it won’t motivate you to continue.  Start with something that you’re passionate about and grow from there.

2. Start with the basics.  Think of things that people need.  Once you have that established, you can work on creatively improving your ideas. 

3. Create a business plan.  It’s hard to get started if you don’t have everything written out to help guide you along.  Make sure your plan focuses on your end goals but also allows you to focus in on the details to help make that happen.  Allow yourself to modify your plan as you get started as change occurs.

4. Have quality in mind over quantity.  While you want to sell as much as possible to make money, customers will keep coming back because of the quality of your products or service.  Quality is always what you should consider first.

5. Use cost-effective techniques that promote yourself by tugging at the heart of the consumers and also are pleasing to the eye.  You will want to convey what is special and unique about you and your business when doing your marketing.

6. Hire the best team.  Make sure they have the same goals as you and that they will work hard for you to achieve your goals.  Only hire those that have a positive energy and are optimistic.  You don’t want someone on your staff acting gloomy all the time and bringing your enthusiasm and optimism down.  If someone you initially hired isn’t acting like they used to, find someone new that does work with your goals in mind.

For more of Martha’s tips for starting a successful business, click here. You can purchase this book at Amazon.com.

If you’re ready to get out some promotional materials for your new business, completeREsources Chicago can help! Visit our Web site here.

Going from the office to a home-based job

So you’ve decided that it’s time to work from home.  You either have the opportunity with the company you currently work for, or you decided to start your own company.  Good for you!  Working from home can be a great chance to earn tax deductions, save money on gasoline and eating out, and be more flexible in your time to get things done.

Christine Ng, a professional coach, wrote a great article on how to start out. These tips should help make your transition from the office to the home a little easier. 

1. Figure out where you’re going to work.  While it might make it easy to place your computer in the kitchen, you’ll want to dedicate a space where you’ll be spending most of your time.  If enough of a space in your home is dedicated to a home office, you may be eligible for a tax write-off.  You’ll want to check with your accountant.  Make sure your space is equipped with all the supplies that you need so you’re not constantly running up and down stairs when you need something.  Be sure your computer is networked, printer has ink, phone gets a dial tone all before opening for business.

2. Figure out when you’re going to work.  You’re going to want to devote a certain amount of time each week for working.  You don’t want to say you’ll work from 9 am until 3 pm and then realize you’re working from 6 pm to 2 am.  Try to keep it consistent so your customers and colleagues know when to reach you.  This will also help you to build your business and not keep from getting behind.  It’s so easy at the beginning to realize not going into the office means more freedom.  Just don’t let it get too far out of control.

3. Figure out how you’ll get paid.  Try to work out a plan with your budget so you’re giving yourself a salary bi-weekly or monthly.  As a salaried employee, you’re used to getting a paycheck.  It will be difficult to adjust if you only pay yourself when you make a sale.  So do your best to pay yourself consistently, even if it’s not that much.  Try to separate your personal expenses from your business expenses with a different credit card and checking account.  This will make your life much easier when it comes time to filing taxes.

4. Determine what your goals are.  Once you do that, you’ll want to post them in a place that you can see them every day so you know what you’re working towards.  If you’re constantly looking at it, you’ll know what you have to do to accomplish that amount, and it might mean making a change in your work hours.

View Christine’s article for three more great tips. Once you’re set up and ready to go, please visit us online so we can begin marketing for your new business!