What Questions Do You Need to Answer Before You Develop Your Marketing Strategy?Ray Johnson Digital Media Masterclass Is LIVE!Tips on Managing Your Small Home BusinessTips on Managing Stress When You Work From HomeThe Secrets of Twelve Internet Millionaires RevealedThe Truth About the Business of Multi Level MarketingThe Success of Your Network Marketing Business Begins With YouSpotlight on Identity Theft Protection ServicesMLM Business: Part Time or Full Time?How To Turn Your Idea Into Money In The Bank
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A common error among new business owners is to put the cart before the horse. In other words, they plan how their going to advertise their products before they sit down and thoroughly analyze all of the information. To make certain that your create the best marketing strategy for your business, you need to have the right information. The following are just a few things you need to understand before you develop your plan of action:
Target Market Your target market consists of the individuals who will buy or should buy your products. In order to develop a plan, you need to first know who your target market is and what the demographics are of the market. In other words, what are their age groups, where do they live, and what do they want. You must try to figure out what their primary reason would be for purchasing your product and why they would want to buy your’s over their competitors. Without this information, your marketing strategy may not actually reach your target market.
Your Competition To be successful, you must also research your competition. Who are the competitors that can threaten the success of your business? What are the strengths and the weaknesses of your competitors? Which of your competitors have the largest percentage of your target market? Last, what can your business offer that your competitors can not? Without knowing what your competition is doing, there is no way that you can develop a strategy that is going to be successful.
Your Products Last, to create a winning marketing strategy, you must know everything there is to know about the products you plan to sell. Do your products fulfill a need and, if so, what are they? What are the benefits of using the product and what are the features of the product? How do these features differ from other products on the market? Are their any improvements you could make to the product? The answers to these questions are the key to your success. Unless you know how your product works and what it can offer to your target market, you will not be able to put the product in its best light.
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If you have recently started your own business at your home, you may already realize that it can be complicated. The fact is, managing a small home business is not as easy as what it would seem. Whether it’s choosing the right products to sell or choosing the right financial software, there is always something that needs your attention. However, the benefits of running your own business make it all worth while to you. This is why it is important to learn how to successfully manage your business.
The first rule you must set for yourself is to always provide good follow up and customer service. Nothing will lose customers faster than a phone call returned too late and a rude answer to a not so obvious question. Your customers are your lifeline and without them, you won’t have a business. Not only that, you will find a lot of your business will come from repeat customers and those who they referred to your business. If you are going to be serious about a small home business, you want to take your customers serious, as well.
You must also make a commitment to only provide your customers with quality products and service. Unfortunately, some business owners start out on the right track, but after they get going, they decide to do some cut backs on the spending. This leads to inferior products and soon, the repeat customers stop. If you need to cut back on your expenditures, always start with something other than the quality of your products or you will soon end up out of business.
Last, you must always keep your promises and always meet your deadlines. Your customers are the reason that your small home business is there. Not meeting their demands is not going to grow your business. Missed deadlines and excuses are not going to cut it. Unfortunately, however, there may be times that a missed deadline can not be helped. If your business is relying on technology, there will always be hiccups. In this situation, you must be honest and upfront with the customer, even if it means allowing a discount on the work being done.
While a lot of people may believe that those who work out of their homes lead an easy and relaxed lifestyle, most people who run a business from their home are often under more pressure. Often, they’ve put their entire savings into their business and may have even put a second mortgage on their home. This, of course, leads to an even more stressful situation. The following are some tips on managing stress when you work from home:
Keep Yourself Organized When you work from home, it is imperative that organization becomes a big part of your life. This includes being organized in both your business and your home. Try sitting down to get some work done when your home is in disarray and you will find it very difficult to concentrate on what’s in front of you. Not only will a clean and organized home and office help you to concentrate, it will allow you to have more time to relax, as each day it will take less time to clean up and prepare for the next day.
Take the Time to Exercise and Eat Right Unfortunately, most people who work out of their homes barely have time to eat, let alone exercise. One of the greatest stress relievers is exercise. Whether you prefer to run a few miles each day on the treadmill or take a walk after dinner each evening, you’ll find it will keep your body in shape and will allow you to reflect on the day’s activities.
Schedule Time Off Again, too many people often think that those who work from home have an easy life. The fact is, though, when you work out of your home, you are more apt to work more hours each week than if you worked at a position outside your home. What this means is that you must take some time for yourself. Schedule at least one day off a week to spend with your friends, family, or even by yourself. The important thing is that it will give you time away from the business and to give your mind time to relax.
You now have an opportunity to receive the Internet marketing education that can last a lifetime.
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Has anyone ever told you not to believe everything you hear or read? Skepticism is normal, especially when you do not have all of the information. However, you must also not let your skepticism get in the way of a good thing. Everyone has probably heard many things about multi level marketing and most are not positive. The fact is, however, multi level marketing can be a great business to get into, as long as you understand the truth.
You Won’t Get Rich Quick One of the many tricks that illegitimate businesses use to get others into the business is promising prospects that they can get rich quick. This is the most common of the untruths. There is no business that is going to make you rich that quickly. Any business you start is going to need time to grow. Most business owners often make several mistakes before they get on the right path. Time is a very important factor and if you are not willing to put the time into it, this may not be the best industry to join.
You Do Have to Work Another common mistake that many make is listening to others tell them that all they have to do is join and they can start making money. Well, the truth of the matter is that you are not going to make any money in this business unless you actually do the work. Most people who become a success with multi level marketing spend more than a full work week at their business. Between marketing the products and opportunity and following up with leads, you should be prepared to put in at least an eight hour day.
You Must Do Your Homework Many people often do not get involved in multi level marketing because of all of the talk that it is just a scam. The truth is that there are scams within the industry. But, being realistically, they are in just about every industry out there. Before you join any business, you must do your homework. Research both the background of the company and their current financial condition and you can insure that you are joining one of the legitimate businesses within the industry.
How many times have you heard someone complain that they joined the wrong business? You may have even heard people saying that the business they joined was just a scam, because they didn’t make any money at it. Well, let’s just say that you shouldn’t always believe what you hear. The fact is, the success of your network marketing business begins with you.
The fact is, the business is not going to create success for you. You have to create success for the business. You are going to have to be motivated enough to get your network marketing business running and then, be determined up to see it through. The downfall to many new businesses in this industry is not the business. It is the owner.
A common occurrence is someone new getting into the business and they don’t realize everything that is involved. If you are new to the business, it is up to you to ask your sponsor for help. While in the beginning, your sponsor may call and ask if you have any questions, they are not going to babysit you. However, if you portray yourself as someone who is very serious about the business and want to learn as much as you can from them, they are going to see this and do whatever they can to help you. After all, your success will help create their own.
You must also put the time and effort in and this includes putting the time and effort into learning about the business. Those who jump into it and think they already know everything are simply setting themselves up for a fall. There are many classes available for those who want to learn more advanced techniques in marketing. Some may be free, but be willing to invest some money in a good marketing course and you’ll find it will not only help you to learn the techniques, but it will motivate you, as well.
The next time you hear someone saying they were scammed by a network marketing business, think about it. How much time did that person actually spend on their business? Did they have enough motivation? If you are going in to the business, you must realize that the only way it is going to be successful is if you make it successful.
Over the past ten years or more, identity theft and fraud has ranked high in the list of crimes taking place. Almost a million people each year are effected by this type of theft and it often leaves its victims feeling both angry and violated. In response to the increase in the theft of personal information, identity theft protection services are on the rise.
Identity theft protection services offer to help victims clean up after their personal information has been used for financial gain. Contacting the authorities, the credit bureaus, and all financial accounts can take a extreme amount of time. What they offer is a way for the victim to not let the fact that they were victimized cause more problems in their personal and professional lives. The fact is, many individuals work for someone else and can not take the time off from work for this type of matter. The last thing a victim needs is to put their job in jeopardy, as they already have enough problems.
However, cleaning up after the theft of one’s personal identity is just one of the services they can provide. Perhaps the main benefit to hiring these protection services is that they can actually monitor an individual’s credit report. Whenever a change occurs, they may contact the individual for verification. This can stop a thief in their tracks immediately. Unfortunately, many individuals never find out about the theft until a lot of damage has already been done.
Of course, these are just a few of the things that identity protection services can do for an individual. They can also teach an individual how to protect themselves from becoming a victim of such a crime. Too many people are often unaware of the risk they are taking whenever they throw a piece of paper in the garbage or even purchase something online. Protection services will make sure that each and every one of their clients are thoroughly educated in how to protect their identity from being stolen.
Whether you wish to supplement your current income or go into a whole new career, the multi level marketing industry has many opportunities that would suit either one. In very general terms, multi level marketing is actually a business that allows one the freedom to run their own business. Selling products and recruiting new members is the goal, however, what type of mlm business you have will depend on whether you are running it part time or full time.
What you must realize is that not every mlm business is going to meet your particular needs. Before you join any business, you should first inquire as to what the business itself requires from you. There are some that can only be successful if one is putting in at least a forty hour week. Because of the commission structure that has been set up, those who can only commit part time hours will not make enough money to make the venture worth while to them.
Once you’ve found a business that suits your needs, you must then determine how much time you can commit to it. Obviously, if this is going to be a new career for you, you’re going to commit yourself to working full time. Most people, when first starting out, find themselves working fifty to sixty hours a week. However, the goal is to make money and when the business has actually become established, to cut back on the hours. As long as you can give the business the time it needs to become successful, you will find there is a light at the end of the tunnel.
The mistake that too many marketers make is not going into the right business. Choosing a business that requires full time hours when you can only commit twenty hours a week is a big mistake. It can actually leave one feeling like they’ve let everyone down and it can leave the individual with a lower self-esteem. Don’t let this happen to you. Before you start your own mlm business, do some research to make sure you can give the business what it needs. The fact is, if you can give the business the time it needs, the business is not going to give you what you need.
I often talk to the guys and gals at the kiosks that sell stuff.
They're usually interesting to talk to. And they understand sales, so the conversation isn't wasted.
I talked to this one guy.
He was really into herbs. His booth sold herbal stuff I believe. Anyway, we talked about sports, bodybuilding and so forth. He told me he had found an herb that was used in ancient days to produce testosterone in elite athletes.
There's a heck of a story behind it. I won't give it away here in case he decides to market it. Or maybe I will.
Point is, he's working at this kiosk on a small salary plus commission. And with only one modestly successful product, he could replace his income.
First, he researches the story more completely, pulls out all the interesting facts he can, fascinating stories and writes it up into a sales letter.
Then, he creates a booklet or ebook and a CD or two about it. That makes for a nice $47 or $97 ebook on bodybuilding sites because the U.S. is cracking down on steroids, so he has a captive market.
His back end could be the actual herb if he found a supplier and could work his way around all the legal entanglements, of which there are many.
Otherwise, his backend is other products from commissionjunction.com and clickbank.com.
Next he goes to bodybuilding web sites, forums and blogs and buys banner ads and text ads offering a free report with a catchy title.
"Free Bodybuilding Report Reveals Secrets Of The Greek gods. Zeus used herbs. No bull."
I made that up. You get the idea. Something promising, shocking with a big benefit.
To get the banners made he pays $20 each at 20dollarbanners.com or wherever. There's no lack of banner designers on the web.
And if you own Design Dashboard, you should be able to do a decent banner yourself.
In the video edition of this ezine, in the past, I've demonstrated how to do that.
The report sells the ebook. The CD or CD's could be the upsell. He could even do a DVD on how to prepare it, grow it legally or whatever.
The elements are:
1. The sales letter that tells an intriguing story
2. The banner ads that send people to the story
3. The product itself
4. The things you sell to people who join the email list or buy the product. This is called the "back end." In other words, everything you sell after the initial pitch, whether they buy the first thing or not.
Once you get people on your email list, you just keep emailing. It's no more complicated than that.
The great thing about commissionjunction.com is you can earn commissions for selling anything under the sun. And I wouldn't be surprised if you could a commission FOR selling the sun!
Let's run some numbers.
1. Assume he gets clicks on the banners for .50 a click
2. One out of 100 clicks buys
3. That makes the cost to get the customer $50.00. If he sells the report for $47, he's making money. How?
4. When the customer buys the $47 product, you IMMEDIATELY offer something else for them to buy. This is called an upsell.
5. If they don't buy that, you offer something cheaper. That is called a downsell.
6. If they buy the upsell, guess what you do? You offer ANOTHER upsell!
In this case, he could offer some CD's or a DVD showing/telling more about the product. How to grow it at home or whatever.
He could probably find related products to sell as an affiliate. You want the upsells and downsells to be as closely related to the main offer as possible.
The tool that makes this happen is at:
http://www.optimizeyourcart.com
You need to have an account with: http://www.automateyourwebsite.com to use it. That is my private label of 1 shopping cart.
It's the thing that takes orders for you.
7. Let's say 10% of the people who buy the $47 thing buy a $100 thing that is more advanced. Out of 100 buyers, 10 get the upsell.
That is 10 people times $100 or $1000.
So if he sells 200 or 300 a month, he replaces his income based on one upsell, and not including any downsells.
8. If the $100 offer is turned down, he could drop down to something for $27 or $37 and pick up more.
9. He could do an advanced strategy and use forced continuity. That way, when they buy the $47 thing, they get a free 30-day trial in his bodybuilding whatever membership or club.
After the 30 days it's $27 or $37 or $47 a month. In that site, he covers other herbal things for bodybuilders, does interviews and digs up whatever content he can.
Out of 100 buyers, 50% to 80% should pay after the first month. The average person will pay 3 months for a total of $27 x 3 or $81.
Here's a summary of the profit centers:
a. Break even on the initial $47 sale
b. Have one or more $100 upsells
c. Have one or more $27 to $37 downsells
d. Have a forced continuity membership site
The initial $47 sale pays for the cost of the advertising.
Everything else is profit.
Now 2X or 3X a week you send content and one or two promos a week using the methods in Promo Dashboard to pitch stuff you snag off of CJ (Commission Junction) or Clickbank.
So now you have money rolling in every week. Week in. Week out. Was that so difficult that somehow little ol' you can't do it?
:)
That's how you turn your idea into money in the bank.
Marlon
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Before
you can have a successful home based business, you must first possess 3
"intangibles." These are things that must come from WITHIN you.
===> Intangible 1 <===
First,you must have a strong WHY.
Why MUST you have a successful home business?
What is driving you? What is it that you CAN'T have in your life anymore and/or
what is it that you absolutely MUST HAVE now?
For me, I couldn't stand
working 12+ hours a day anymore and missing the experience of my children growing
up. I also absolutely HAD TO HAVE the freedom of being able to control
my life and finances through a little box (laptop computer) that I
could carry with me anywhere in the world and not be tied to anyone's
time pressures or demands but my own. That was my carrot and my stick.
I felt a great pain deep in my gut of missing out on my children's
lives and the incredible freedom that succeeding in a home based business
would provide for me. I found my why. You MUST find yours.
===> Intangible 2 <===
You
must BELIEVE that it is possible.
If
you don't believe that it's POSSIBLE for you to have a successful home based
business or make your living from home, you won't. It's that simple.
For me, figuring out that it was possible was just a matter of realizing
that many other people were ALREADY making great money working from
home. If they could do it, I could too. It would just be a matter of
figuring out what those people were doing and then adapting it to my
situation.
There is no shortage of undeniable PROOF
that people (millions of them) are making money working from home. Just get online
and do some research and you'll find countless testimonials and stories
of REAL PEOPLE making real money on the Internet. Or head to your local
bookstore and you'll find the same documented evidence of this fact.
Truth is, it's getting easier and easier to make money with your own
home based business.
I've always said that
"affiliate marketing" (a simple way to make money from home) is the job of the
future. In the old days, you had to go to a potential employer, apply for
the position and hope for the best. Now you can simply go to any company
you want, fill out their affiliate application and start work
immediately. Affiliates are the new working class. In fact, making
money with affiliate programs or making your living on the Internet is
WAY MORE than possible. It is pretty much (or will be soon enough)
unavoidable now. Affiliate marketing is the "job" of the future that's
already here TODAY.
===> Intangible 3 <===
You must be willing to MAKE THE LEAP.
Ready, FIRE, then
aim... This is the operating philosophy you MUST adopt to succeed with
backwards for most people who like to aim before they fire. The fact is
that home based business success is a moving target... The only thing
constant about it is change. You need to stop analyzing the game and
simply jump into it. You can't learn from the outside... You have to be
*IN THE RING* to truly understand and profit from it. In fact, this is
a business where you can truly be earning WHILE you're still learning...
The
lesson here is that you will never really be READY to start a home based business.
You simply have to start one. It's like having children... You're never really
ready, but when it happens you adapt and grow and therefore you succeed. This is
what I call:
"Making the Leap"!
The good news is that the cost of failure with having
your own home based business is very small. In the "brick and mortar"
world you need to evaluate things very carefully before you decide to open up
a business. It's almost always necessary to invest thousands of dollars
to get an offline business off the ground. However, on the Internet you
can often start a successful business for less than $100. The Plug-In
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You simply need get IN THE GAME... Each moment that you stay "out there,"
you're wasting valuable time that you could be learning and skills
necessary to build a successful home based business. In fact, if you're
not in the game yet, you're ALREADY behind the times... Make the leap to
starting and building a successful home business TODAY!
About Stone Evans, The Home Biz Guy:
"I Was A Washed Up Restaurant Worker Desperately Searching For
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