By Ian Nicholson
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Additional info for A Brief Guide to Starting a Home Based Business
8. How they use IT - for example, if they're technology-aware and offer a website and email. 9. Who owns the business and what sort of person they are. 10. Their accounts at Companies House if they're a limited company. 11. Their annual report - if they're a public company. 12. Their media activities - check their website as well as local newspapers, radio, television and any outdoor advertising. How they treat their customers Find out as much as possible about your competitors' customers, such as: • Who they are.
Zeragorn Books A Brief Guide to Starting a Home Based Business 54 Internal policies If your staff have access to the internet and make use of email, then you should be aware that there are some associated concerns. These can range from excessive personal use through to potentially opening your business up to the risk of prosecution. Consider introducing policies that clearly state what is acceptable and what is unacceptable in terms of internet and email usage. © 2010 Ian Nicholson. Zeragorn Books A Brief Guide to Starting a Home Based Business 55 Make the most of your IT and e-commerce To make the most of your IT and e-commerce investment, there are several points you need to observe: • Focus on the business benefits, not the technology - you may want to make your finance team more productive by eliminating repetitive processes.
Be innovative and different, but not at the expense of your overall business plan. Remember don’t spend too much time looking over your shoulder at the competition and neglecting your own business. © 2010 Ian Nicholson. Zeragorn Books A Brief Guide to Starting a Home Based Business 41 Chapter Six Market Information Do you understand marketing trends in your business industry? Information on market trends and competitor intelligence Getting a good understanding of market trends is important if your business is to make the most of its opportunities and remain competitive.