At last count, there were more than 62 million independent sales representatives worldwide who generated over $114 Billion in retail sales in the direct sales industry. With such impressive statistics, it is easy to see why so many people start a home based business with a direct sales company.However, while there are innumerable home based business opportunities on the market, they are not all equal. Some will earn you the money you need to achieve the financial and personal freedom you are striving for, while others will merely waste your time. Ask yourself these three questions to determine if your home based business is your ticket to the success you’ve been dreaming of.Are people outside the company interested in the product?There is a home based business opportunity for just about every type of product available on the market. From personal products to financial services, you can start a business selling anything you are passionate about.The problem is, however, that many of these companies sell products that either do not interest the general public or sells the products at an outrageous price point that only people in the business would buy in order to maintain their minimum level of sales. An important part of having a successful business is offering a product that people will buy. Without that, your home based business will fail.Are the marketing tactics effective?Possibly the most important component of a successful work from home business is the marketing aspect. You can sell a ton of mediocre products with a great marketing campaign. Proof of that can be found in any retail store. However, if you use a poor marketing strategy, even the best product in the world will fail to sell.Many work from home business opportunities use outdated sales and marketing methods to attract qualified buyers. Some rely on cold calling or treating every person you meet like a prospect rather than a person. Most customers have developed a resistance to this type of hard selling which causes you to be subjected to endless rounds of disheartening rejection. If your home based business relies on this style of marketing rather than the newer, customer friendly marketing system, then your business may not survive its first year.
Can you develop streams of residual income?Residual income is money that continues to be made long after the effort to generate has been put forth. For example, a musician will earn royalties on his music long after he creates the CD compilation and distributes it to the public.In order to achieve true freedom, the bulk of your income should come from sources of residual income. When you income is not based on active ongoing effort, you’ll be able to spend your time doing the things you want to do rather than working on the things you have to do in order to earn money. If your home based business doesn’t pass the test, then it is time to change to something new.
Is Your Home Based Business the Best Opportunity For You?
How To Discover Your PERFECT Home Based Business – The 7th Of 7 Keys – Testable At Low Risk
This is the last in a series of seven articles that tell you how to sift through all the home business opportunities you hear about every day, and find the PERFECT home based business for you.What makes an opportunity P.E.R.F.E.C.T.? In the first six articles in this series, we learned that the “P” in PERFECT stands for “Profitable”, the first “E” in PERFECT means “Easy”, the “R” stands for “Real”, the “F” means “Fits With Your Desired Lifestyle”, the second “E” stands for “E-friendly”, and the “C” means “Competitive”.Now, as you and I know, many so-called home business “opportunities” are not really opportunities. They’re not profitable. In fact, some of them will suck money out of your wallet faster than a vacuum. Many are certainly not easy. They’re not real. And, as a business, they can take so much effort that they own you, rather than you owning them. That kind of “all work and no play” makes it very hard for you to achieve the freedom you dream of, and to live the lifestyle you want.Many of these “business opportunities” don’t use the internet effectively and often require you to sell something to your friends and neighbors that they don’t really need. And, many will have you selling the same thing thousands of other people are selling. It’s hard to be competitive that way. Other problems and unpleasant surprises often show up in some of these business opportunities only after you have invested lots of your time and money.If you are finally ready to start making some real money in your own home business and stop throwing your money down the “home business opportunity rat hole”, then test every home based business opportunity to make sure it fits the definition of The P.E.R.F.E.C.T. Home Business, before you invest your time and money.Now, on to the last letter and key in the word “PERFECT”.Key Number Seven:The “T” in PERFECT stands for “Testable At Low Risk”. Who wants to start a business that requires you to spend $50,000 before you know if you will be successful or not? Not me! I always want to minimize my risk and to know quickly what is going to be profitable and what is not.Testable At Low Risk Means:• You can test your business, product, or service idea quickly and inexpensively to see if it is likely to be successful.The PERFECT Home Based Business allows you to test an idea inexpensively, often for less than $100, and almost always for less than $1,000.• Then, when you have some proof of possible success, you can roll out your efforts and invest more money in your business with a much greater comfort level that you will be successful on a larger scale. Don’t go blindly forward, spending all of your available cash on any business idea, without testing, testing, and testing some more first right up front.Now that you know the Seven Keys to a PERFECT home based business, make sure the opportunity you grab hold of has all of the Seven Keys. A business that is PROFITABLE, EASY, and REAL. It FITS WITH YOUR DESIRED LIFESTYLE, is E-FRIENDLY, COMPETITIVE, and is TESTABLE AT LOW RISK.
Considerable Factors Involved in Product Creation & Marketing
The niche you have chosen should allow creation of more than one product or service. 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 need to worry about spending time on the real products sold to the customer. The main ones are keyword selection, sales copy principles, graphics, affiliate programs, product creation, online payment processing, auto responders, and search engine optimization.
Once you’ve earned money from this type of information product business, you can invest in the creation of your own products if you want, or start offering more informational products that allow you to sell your knowledge. But the creation and production costs of a similar big ticket in sequence product, although higher, are still pretty low. A key by-product of this process will be the creation of 3-D, Computer Assisted Design art.
The Association for Financial Professionals permits the following activities for repatriating funds: Research and Development activities, advertising and marketing programs, hiring and training new recruits, acquiring patent and other rights to intangible property, improving transportation, funding capital investments with the purpose of job creation and job retention & funding product responsibility or environmental claims.
It prohibits certain activities like: Tax payments, Payment of executive recompense, Payment of dividends, Redemption of stocks, Debt investments and Portfolio investments. Therefore, before repatriating the money, you must consider whether it is worth or not.
Checklist on what artist and product development necessitate includes: Exceptional vocals, musicianship and/or songwriting skills, Continued education and enhancement of musical skills, Quality equipment, Performance ability, Image creation and maintenance, Plan of action, goal setting, excellent promotion materials including photographs, press releases and artwork, Business management skills, Marketing, Publicity and Promotion knowledge, Online and Offline Professional management, Basic knowledge of recording, producing, engineering, and mastering, Basic knowledge of manufacturing, distribution, and sales online, brick and mortar and air-play, Good choices in members, staff and advisors, Physical and mental preparedness, Basic knowledge of finances, accounting Law and legal issues etc.
The goals for doing so are for the product owner to: Communicate the whole, Determine and communicate when releases are needed, Determine what functionality is sufficient for each release & focus on business value derived from the releases. The delivery team on the other hand will see the whole, learn about the steps to realize the vision, learn the business priorities, provide technical input to the roadmap and provide estimates for the projected features. The salesperson must lead the prospect through the various decision criteria needed in order to secure a sale. Whether your idea is the development of a product, launch of a service business, or even the creation of an event or program for a non-profit, creativity is the root of all entrepreneurial efforts starting with the vision itself.
People quickly learn to spend their time on marketing and product creation, rather than repetitive tasks. Apart from empowering companies and individuals, there should be a particular focus on identifying labor intensive businesses that have the potential to make a significant and positive impact on employment creation as well as those businesses that have a product or service offering for export markets with the final objective of booming local economies.