The economic difficulty we are facing seems to be growing. There aren’t many jobs and big businesses have been downsizing and closing everywhere. Things may appear bleak now, but you can work through it. This piece is meant to offer tips for navigating the tough economic landscape.

If you need to do any driving to meet the needs of your home based business, keep detailed records of mileage and save all fill-up receipts. Travel expenses can really add up over time, so take careful notes! You must be honest about it. You could be asked by the IRS to prove that your deductions are vital for your business.

All of your efforts should keep your home business customers happy. You need a lot less effort to get repeat sales than new sales. Keep clients happy and you’ll have repeat business.

To make sure your customers are happy, go that extra mile for them. Include a special gift and a thank you note when you send them their order. Always remind them that you are grateful for doing business with you. People enjoy getting free things, and they also like to know that they are appreciated. Show them that you’ll go above and beyond to keep them happy.

It is important to know how much it truly costs to manufacture any product that you are making and selling on your own. To determine the wholesale price increase, multiply your cost by two. Retail mark-up is twice that of the wholesale price. You must find a price-per-product that you know will satisfy both your budget and your customers.

As you heard earlier, it seems that the economic news is all bad these days. Are you asking yourself “How will I get through it?” You can give yourself a real advantage by using the tips above.

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