The business-to-business (B2B) sector can be daunting and demanding for startups. You’re up against established competitors and need to prove that your product or service is a worthwhile investment to start turning a profit quickly.
Working from home can give you the edge you need to succeed as a small business in the demanding world of B2B marketing. You’ll save up to $11,000 per employee per year when working from home (WFH) and may see a significant boost to your productivity, recruitment and retention.
Deciding to work from home can help you achieve a better work-life balance, too. This is crucial when running a new start-up, as you’ll be sure to encounter your fair share of stress and strain when entering the B2B marketing industry.
Business Planning
An effective business plan is the backbone of any B2B marketing firm. Your business plan helps you identify your niche, unifies your company’s vision, and may convince stakeholders to invest in your firm. Crafting a business plan is relatively straightforward, too. Effective business plans typically include:
- Executive Summary: This contains your mission statement and the most relevant information regarding your operational procedures. This will include details on your WFH setup and plans to remain remote.
- Product/Service: When stripped down to its core, what is your product/service? How does it help marketers and/or B2B businesses? Does it have a product lifespan, and will it need regular updates? What kind of research and development is involved and how do you ship your product/service from your home to your clients?
- Market Analysis: What need do you fill in the market? Do you offer a more bespoke service than your competitors, or does your product simply outperform your peers? What kind of market share do you hope to capture and how are you responding to market pressures?
- Finances: What financial targets do you hope to meet in your first year of operations? What funding requests are you relying on and how will you pivot if you’re unable to secure certain funding? Will you need to raise funds for WFH upgrades and equipment?
A clear business plan can help you understand the risks involved with startups, too. Running your own firm is a great way to reclaim your independence and increase your income. However, you still need to assess your risk tolerance and take steps to avoid bookkeeping mistakes which can result in misguided financial decision making and compliance issues, and reputational harm. Planning accordingly can help you avoid these pitfalls.
Networking
Networking is a powerful form of marketing in the B2B world. However, when working from home, you may struggle to connect with folks who are back to working in offices and shared spaces. Rather than lamenting the buffer between yourself and the rest of the marketing world, get busy building your network remotely.
Start building your remote network as a marketer by refining your digital presence. Revise your LinkedIn page to reflect your new career path and create a low-cost blog to display your business portfolio and product. Reach out to marketing blogs that need guest content writers, and start pitching ideas that will build your credibility and help boost your brand visibility.
Consider attending in-person conferences, exhibitions and seminars if you’re still worried about networking opportunities when working from home. This innately boosts your brand credibility and helps you connect with clients. Setting up a physical stall for your new product/service can be particularly powerful if you’re aiming to break into the industry quickly. Attending exhibitions as a vendor can improve your lead-generation efforts and boost your market visibility quickly as a new entry to the B2B marketing sector.
Productivity Tips
Working from home can be a real boon if you’re used to commuting through traffic and are easily distracted when at your office station. However, you can’t expect to set up shop in your living room and retain the same productivity that you have while working in a professional environment. Instead, consider using an ancillary building like a garage as a home office. You can easily convert your garage into a home office, start by:
- Decluttering your garage and deep cleaning all of the surfaces, floors and walls.
- Bringing in basic necessities like power strips, insulation, heating/cooling and security devices.
- Change your lighting to bring in natural light and switch to energy-efficient LEDs.
- Invest in professional-grade furniture like desks, chairs and storage for physical documents.
- Add a personal touch that aligns with your brand — this is particularly important if you plan on taking video calls while working in your converted garage.
These changes will streamline your workday and help you get the most out of your workspace. Just be sure to test the wifi connection before investing too much money into a conversion and pick up a wifi extender if you are worried about connectivity issues.
Running a B2B marketing business from home can be a great way to improve your work-life balance while making a great income. However, if you want your start-up to flourish, you’ll need to adapt the way you operate while WFH. Start with simple steps, like converting your garage, and set aside time to attend in-person events. This will empower your sales team and help you turn a profit in your first year of operations.
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