Many people end up joining a Home Based Business, or Work at Home Opportunity to make a lot of money, to be come RICH!The people “pitching” sharing about their businesses, ALSO talk about GETTING Rich, or even better, GETTING RICH FAST with out the hard work!How possible is this?With the above definitions, it is SIMPLE! In the grand scheme of things, EVERYONE in America is RICH! We have clean drinking water, government and private organizations that provide food and shelter, so having food and water is not a big problem. It IS in other parts of the world!Having a goal of being rich, is useless if you do not clearly define “rich!” The next time someone is trying to convince you to join a business because you will get rich, ask them how rich? Better yet, how much income?Before accepting a job, don’t you think about how much you will make (either per hour, or per year), and then figure your house hold living expenses, and see how much you have left over?And with any Home Based Business, or Work at Home Opportunity, what are the expenses? These are some of the BASIC questions you should consider BEFORE joining/starting any business, buying a franchise, investing opportunity…Let’s look at the numbers with a typical Home Based Business/Work at Home Opportunity:Expenses:
One Time Expense for Business:
- $500 – Joining Home Based Business/Work at Home Opportunity
- $100 – Main Product/Demo Kit for Business
- Total = $600 One Time ExpenseOn Going Expenses of Business:
- $30/Month – Back Office = $360/Year
- $30-$150/Month – Business Product/Service = $360-$1800/Year
- $100 – Annual Business Renewal
- $150/Year – Annual Training Convention
- $500/Year – Travel Expenses for going to Annual Training Convention (Hotel, Airplane Tickets, Food)Total = $1470 to $2910 Per YearIncome/Gross Profit:
One Time/Per Action
* $100 / per new member you introduce and train
- FAST Start BONUS: $1000 for 5 people in 1 month.
* 1% to 15% of your Down line Autoship sales NOTE EXCEPTIONS BELOW!
- 0% until you have personally trained 3-100 people
- 1% until your Down line hits $10,000/Month Autoship
- 2% until your Down line hits $20,000/Month Autoship
- 15% once you are a Triple Crown Double Ruby Executive Super Duper Space Leader!Many people do NOT talk about all these expenses up front, as they DO add up!And typically the way the system is set, there is PLENTY of income to be made, but it is work, not exactly what you call Get Rich Quick!People may talk about the big income numbers, but not all the details to get there.Whatever sort of business you join, of if you are planning on starting your own business and or franchise, you have GOT to do an analysis like this! And this is a VERY BASIC analysis! If these numbers do not look good, there is no point in going further!If the numbers seem good, our next article will be how to actually design your income!
Reverse Engineering Home Based Business and Work At Home Income
How To Succeed At Online Product Creation The Easy Way
Product creation could be a frightening subject for a lot of Internet marketers to face. Some folks who get in the game with the intention of making a full time income are completely ignorant as to how an online business operates. One of the most profitable ways to create online cash is by creating a product that others are happy to pay for.
Product creation is legitimate method of generating money through internet marketing but many entrepreneurs get it wrong. They start by imitating their Internet marketing gurus by creating information products on Internet marketing in hopes of getting rich the way their heroes did. The problem is that they usually don’t know what they are doing and enter a highly competitive niche with very little marketing experience or connections.
Here are a few tips for effective product creation that may help you get on the right track:
Start by finding a profitable niche with low to moderate competition. If you conduct some rudimentary market research and keyword research, you’ll find many opportunities in areas that will surprise you. Amazon and eBay are two great places to brainstorm for product ideas.
Developing Your Product does not have to be a difficult project. You can find experts in the right field for your niche and pay them to write the material while an artist designs the packaging and website or blog. You can outsource the entire product creation part of the project after you conduct the research and testing to ensure profitability.
Sales and marketing strategies should be created while developing the product and learning about the market. Some experienced marketers use pay per click to drive traffic to their offer page; some folks outsource the entire marketing campaign to affiliates through ClickBank or other affiliate programs.
Product creation does not need to be hard, particularly when the merchandise is electronic. E-books, videos, audio and multi-media products sell very well. They are distributed immediately to customers electronically. Once you have a good feel for a niche market, try to service your customers with associated products and upgrades. If you want to earn money online through product creation, you must understand supply and demand. The majority of new online marketers fail miserably because they go after highly competitive markets or forget to research their chosen niche properly. You have to create your products according to the needs, wants and desires of the prospective customers.
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.