Running a small business from home can be extremely challenging. Many people find that they do just enough to get by, while others are forced back into full time work.
For some, however, success does come, and when it does, it brings a combination of elation and a degree of fear. Taking the next step is yet another life-changing moment in your life, and not one that can be taken lightly, so how can you tell when your business really has become a success?
1 – You Make Money Even When You're Not There
One of the sure fire signs that your freelance job has become a business is when you start making money even when you're on holiday. Whether you earn passive income, or you have a remote staff that pick up the work while you're not there, if you can make money without being present, there is a very good chance that you have a long-term business on your hands.
2 – Your Customers Come To You
Whether it is through search engine rankings or any other means, if your customers are coming to you to do work for them, it means that you have developed a reputation – a business reputation. If this does happen because of search engine rankings, you shouldn't rest on your success, but you should also know that there's a good chance that you will be up there for a while.
3 – You Start To Get Referral Business
Word of mouth referrals are the best customers. They cost you nothing in marketing, they already have a degree of trust, and it means that you carry a lot of authority in your industry. When customers are doing your marketing for you, things will get a lot easier, and you will be able to concentrate more time on mission critical elements of running your business.
4 – You Can Take A Knock Without It Spelling The End
Businesses suffer knocks, it happens. In some cases, a big blow can leave a business crippled, but if you can weather a financial storm and come out of the other side with your business and your income in-tact, then the future is bright.
5 – You Figure It's Time To Move To Dedicated Premises
Whether you're spending your time looking for potential property on sites like PropList.com, or you have remote workers asking about coming to work at the office, this is a good sign of a maturing business. Don't make the leap straight away, but look into the benefits and pitfalls of having your own dedicated premises.
6 – You Get Mentioned In The Press Without Paying
Even a mention in your local newspaper can drum up a lot of business, give you clippings to show off to potential clients, and brings a certain amount of pride with it. If you can land any column inches, without having to pay for advertising or without having to go out of your way to write an article in which you feature, you have reached the next stage in your business cycle.
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