Presentation skills coaching is an ideal small business for WAHMs who are into public speaking and who are also willing to share their excellent communication skills to other people at the same time. If you're a little bit hesitant in starting one due to the big capital that you think is required in this type of business, take comfort in the fact that you don't have to shell out a lot to start a presentation skills coaching business at home. Below are some tips on how to start a small business on presentation skills coaching.
Know Your Target Market and Competition
After deciding that presentation skills coaching as a small business that may work for you, know who your target market is and determine their needs and preferences. Ask yourself the following questions:
- Who will avail of your services?
- Where will you market your services?
- What are the possible qualities or traits that your clients will have?
- Is the market already saturated?
- How tough is the competition? What is your competitive advantage?
Determine If You Need Help
Just like any other businesses, there are daily tasks that you need to get finished and done. Assess beforehand if you can do these tasks yourself or if you need an extra hand to have them done. Several of these tasks include appointment setting, bookkeeping, advertising, replying to emails and ordering supplies.
If you think you can handle the tasks mentioned above with or without help, there's a good chance you'll make it in your presentation skills coaching business. However, if you feel like you'll have problems balancing your personal life and doing extra coaching sessions on the side, postpone starting your business until you feel you're ready.
Assess What Needs To Be Done
With your current space at home, find out if you if there's enough space to start your small business. If there isn't, make a list on what needs to be done. Assess the need for supplies, equipment and records. As you do this, figure out as well the estimated costs.
Determine Startup Costs
The startup costs should include the amount of money you'll need to start and keep the business running for the first three months. To help you in estimating the costs, you can do price checking or look for legitimate bargains beforehand.
Check the Legalities
Some states have their own policies regarding small businesses. Check if your area is subject to certain rules, regulations or restrictions; you can start with the homeowner's association and work your way up to the local business authorities. There are some cities or towns where small business owners are required to apply for licenses or permits before they can operate.
Spread the word that you're offering presentation skills coaching services. You don't have to shell out a lot of cash to market your services, as technology nowadays will do the job for you. Post something about your small business on Twitter, Facebook and online forums where your target market frequents. You can also ask family and friends to do the same thing for you. You can provide trial sessions for free and ask your clients to tell people they know about your services.