Many Americans still have the same dreams they had a few years ago; buy a home, provide for their children, and send their children to college, but the price tag for fulfilling this dream climbs higher and higher every day. Very few families can afford to live on one income, and that means that both parents have to go out and find work.
Enter the world of the home-based word processing business. And that is just what many enterprising parents are choosing to do. Word processing can be one of the most lucrative of these home-based ventures. For the price of a computer, printer, software, a person with a background in word processing can create his/her own in-home business.
Before you begin your word processing business, do your homework. Find out what is the software program of choice in today's business community. You will want your computer system to be compatible with your clients. Also, look at the make-up of your local area: is it an artistic community? A thriving business area? By checking out the demographics of your area, you can make a decision regarding the type of advertising you want to use.
To start with, you will want to try all sorts of advertising: neighborhood newspapers are an inexpensive method, but they usually only publish on a weekly basis and that may not be enough to keep the clients rolling in. You can put your name on the bulletin board at your local supermarket and pass out flyers door-to-door in large office buildings or other business complexes. Conversely, although it may be more expensive than neighborhood newspapers, you may want to run an ad in your local daily newspaper. Church bulletins and university newspapers that sell advertising may also be a relatively inexpensive way to go. And don't let a client walk out the door without one or two business cards. Just as with any company, repeat business and word-of-mouth may well be your best advertising tool.
One telephone call will be the only opportunity you have to sell your service. If you hesitate when asked a price for a particular project, you'll probably lose the job so do your homework. Call the competition, ask what they are charging. If the competition is out of your immediate geographic area (and you are therefore not a threat to their livelihood), you may want to be straight with them and tell them you are starting a word processing business and ask for their input. You may be surprised to find them willing to help out with important information.
Keep in mind that there are several types of documents that need to be typed: business letters, envelopes, forms, tables, screen plays, resumes, etc. It will be possible to set a basic rate, but remember that clients may not be accurately describing the type of work they want you to do. For example, a prospective client may call asking what you charge for 4 single spaced pages. You answer 45.00 per page, straight text. Then when the client comes, you discover that what he has is 4 pages of extremely complicated tables--definitely not simple "straight text". By not making firm pricing commitments over the phone, you will have the flexibility to increase the price accordingly when a client brings you something other than what you were expecting.
Don't forget that many people don't know the difference between a single or doubled spaced pages. To some clients, a resume may be a single spaced page, but it takes a lot longer to type than a business letter and you will want to charge more for resumes. You will want to establish an hourly rate for tables, transcription and other more time-consuming jobs. Your pricing will change as you become more familiar with what your clients demand.. You may find yourself doing a lot of list maintenance and merge letters or you may be doing work primarily for doctors, or attorneys. Have a good basis for your pricing but be flexible.
Finally, when you are typing your fingers to the bone and can't see over the stack of work in your in-basket, you will not be thinking about where your next job is coming from. Don't forget that eventually that stack of work is going to get done, and you may find yourself, twiddling your thumbs instead of using them to hit the spacebar. You should always continue to market. Don't stop advertising. You may find you need to allow yourself more time to get the work done, but let the prospective client decide if your turnaround time isn't fast enough for him/her. Keep your name out there, that's how you'll get a firm foundation laid for your business. Before your know it, you'll be able to send your children to college and get that kitchen remodeled without having to have both parents work outside the home-a relief to everyone.
