Make no mistake, it is tough to create a profitable home shopping business.  And you will make mistakes, that is inevitable.  If you are thinking of starting a business or maybe have just started, you need to know what you are letting yourself in for.

 

In the start-up phase you have a critical amount of cash available.  Every penny is precious and you need to make the right decisions early on or have access to more cash. For example:

 

·     Does my product offer have enough appeal?

·     How do I recruit customers?

·     How much stock should I buy?

·     How do I fulfil orders?

·     How much should I spend on my catalogue and website?

 

The list is a long one and if you are new to the home shopping market then you will need help.  I have worked with many new companies and potential start-ups.  The reality check sometimes means the entrepreneur does not go ahead.

 

You need an appetite for risk to succeed in this market but you must be aware of what those risks are.  Before you spend any money I can evaluate your plan and tell you your chances of success.  If I do not think it will work I will tell you.  If I think there is a chance of success I will push you up the learning curve to maximise those chances.  Money spent now can save you thousands of pounds in the future.

 

So you went ahead and launched your catalogue and you have not achieved the goals in your business plan.  There are a number of reasons why companies get into difficulty.  Sometimes these can be overcome and by careful adjustments you might trade through to profit.  Other times the situation can get quite desperate.  I can help determine whether you should carry on or seek an exit.  I will provide a clear, objective view about what you should do.

 

My consultancy services for this work will usually be charged on a time basis.

 

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 Copyright ©2006 Ray Morris-Hill Associates

A Reality Check

Ray Morris-Hill Associates