Between hanging out with your friends, updating your status on Twitter, and logging in hours at your day job, you’ve probably dreamed about being your own boss. After all, when you work for yourself you can make as much money as you want and have the free time to enjoy it. While many entrepreneurs have started their own home based business for those exact two reasons, going into business for yourself is not as easy as it sounds. After all, even Facebook founder Mark Zuckerberg struggled a few years before his baby became the social phenomenon it is today.There are thousands of home based business opportunities out there that claim to have the perfect system that will make you rich. The truth is, very few of them actually do. It is important to your personal and financial goals that you learn how to tell the difference between home based business opportunities that are golden and which ones are bogus.Industry SaturationIn theory there is room for everyone in the business world. If you have a good product that people are willing to buy, then you could start a home based business and become very successful. In practice, however, industries become saturated as people piggyback the success of others and offer similar products that are the same quality and value as their competitors.When everyone is trying to get a slice of the same pie, the size of that slice gets smaller and smaller. Some people are able to carve out a bigger piece for themselves and some are only able to get a few crumbs. The point is, unless the product is going to revolutionize the industry in some way, you should avoid starting a home based business in an industry where there are already an overabundance of players. Instead look for an opportunity in an industry experiencing major growth.Product PricingMost home based business opportunities sell decent products. Make no mistake. There are some stinkers out there. But on average the products work as advertised. The problem many work at home entrepreneurs run into is that the products are overpriced.Your sponsor will encourage you to overcome your client’s objections by trying to convince them that the cost of the products is the same as similar ones in retail stores. However customers today are savvy and resourceful and will see right through that sales tactic. Your best bet is to find a home business opportunity that sells a product worth the price or, even better, doesn’t require customers to alter their shopping habits at all.The Marketing SystemThe heart of any home business is the marketing system. Without a good marketing system, your business is toast to put it bluntly. Even if you have an average product, if you partner it with a great marketing system then you’ll experience success. However, a poor marketing system will tank your home based business faster than an inappropriate status update on Facebook.When sourcing home based business opportunities, check out how they are marketing their products. It’s the 21st century. Are they taking advantage of modern day tools, such as social media marketing outlets, to find and capture the attention of customers? Or are they using outdated tactics, like encouraging cold calling or stalking prospects down in parking lots? If it’s the latter, run far, far away.Choosing the best home based business opportunity can be a challenge but it doesn’t have to. If you are ready to pursue the personal and financial freedom you’ve been dreaming of, visit my business website where you will find information about a business opportunity that combines two fast growing industries with a state of the art marketing system that will propel you to successful heights.
What to Look For in Home Based Business Opportunities
Home based business opportunities are programs or rather business models that you can operate from the comforts of your home. Home based business opportunities are ideal for people who do not want to leave their homes and commute long distances to and from work but have a comfortable income just operating from their homes through a computer and possibly an internet connection.It is possible to operate a home based business without having to invest large sums of money in it and then take care of the ever increasing overheads like paying staff, office rental and commuting expenses too. This is the crux of owning a home based business – there are little or no over heads to take care of. Keeping business expenditure down to a minimum will allow for greater profits and less competition because the cost of the products can be as low as possible.When it comes to setting up a home based business it is possible to just buy into a franchise or take part in an affiliate marketing program. Both require some amount of investment but not much. Then there is the possibility to design and sell ones own product on the internet through a chain of affiliate marketers. This will require some amount of knowledge of online marketing and the various techniques of selling online but almost anyone with a little time to spare learning the ways of the internet marketing fraternity can take up this line of business and make a success of it as well.For those who are looking for an opportunity to start their own home based business should look up the existing affiliate marketing programs. Sure there is eBay and the likes but then there are programs that pay like no other online marketing portal pays. I am talking about the programs like Carbon Copy Pro, Big Ticket to Wealth and the likes.Carbon copy pro is a home based business in a league of it’s own. People who have bought into this program have literally minted money. The program practically begins to pay for itself within a fortnight of setting it up. This is all thanks to the way the program is designed. The support of the program sets the affiliate up with a web site that promotes the products, then drives traffic to the site and makes calls as well as closes sales on behalf of the affiliate and all for a small fee of 140 US dollars per monthSure you do have to do a bit of marketing yourself to increase revenue but this is limited to online promotion of your affiliate site and driving additional traffic to it. However, the efforts begin to pay off before long and you will be on the road to financial freedom in a matter of months.
Effective Marketing Strategies in Product Creation
Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.
If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.
Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.
For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.
No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.
There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.