What makes an opportunity P.E.R.F.E.C.T.? There are 7 key requirements for a home business to qualify as being “PERFECT”. Each letter in the word PERFECT stands for one of the 7 keys. In the first three articles in this series, we learned that the “P” in PERFECT stands for “Profitable”, that the first “E” in PERFECT means “Easy”, and that the “R” stands for “Real”.Key Number Four-The “F” in PERFECT stands for “Fits With Your Desired Lifestyle”. What lifestyle do you want to live? Many people who want to start a home business want “FREEDOM”. Freedom to do what they want, where they want, and when they want. Don’t start a business that fights head on with the lifestyle you desire. A PERFECT home based business will not only fit with your dream lifestyle, it will even help you achieve that lifestyle.”Fits With Your Desired Lifestyle” means:•Something that you love or are passionate about. Too many people do work they hate, just to make a living. You’ll have a much happier lifestyle if the core products and activities of your home business mesh with something you have a passion for and love. There’s that passion thing again:-).•Leverages your creativity. A PERFECT home based business allows you to do something once and get paid over and over again for the initial effort. Don’t exchange one hour of your time for one hour’s pay (don’t be a wage slave like just about everybody else).•Can be operated from anywhere in the world and from home. No more long commutes. Hey, my commute is 30 seconds…from my bedroom to my home office. Decide where you want to live and then work from there. All you need is electricity, a phone line or cell phone network, a computer and an internet connection.•No employees are required (but you could and should use independent contractors, or outsource some of the work). Avoid all the hassle of having employees. A PERFECT home based business can be run by just you, or you and your spouse if you would like.•Helps a lot of people. If this is not part of your desired lifestyle, it should be, because the more people you help, the more money you will make.•Time required to build the business to an acceptable profit potential is not long (less than 6 months desired).Who wants to work on their business for two or three years before it becomes profitable? Most people couldn’t afford to do that. Yes, it might take a year or more for your business to reach its full potential. But, there are tricks of the trade that can make it much more likely you will see an exciting level of profit within 6 months (you will not “get rich quick”; sorry, but that is reality…don’t quit your day job quite yet).•Low initial investment required (less than $1,000 preferred). Many people don’t have the $5,000, or $25,000, or more needed to start some home based businesses. There’s no need to sell your firstborn or mortgage your house to get your business started.•Product(s) that you have control of (you are the gate keeper, which means you created the product, or have the exclusive right to market it). If you control the product, you can build a sales force of hundreds or thousands of affiliates that will grow your business for you even while you’re on vacation. They will market your product for you for a share of the profits.Even if you don’t yet have your own product, you can get started quickly by selling other people’s products as an affiliate for them. But, it is still best to eventually create your own products.•Enables you to earn enough money to become financially free. Decide for yourself how much you need to be “financially free”. Whether that’s an extra $500 or $1,000 a month, or $100,000 per year or more, your business needs to have the potential to earn that.•Enables you to have free time because it requires less than 20 hours per week after the initial set up period. Spend your free time with your family, on your favorite activities, or use it to start and build another business.•The business is aligned with how I understand God would want it to be. This is a personal requirement for my business and lifestyle. It means that my business must provide real value, must benefit people, and must be legal, ethical and honest. If you make sure your home based business does this as well, whatever your views about God, you will be miles ahead of all the scams and quick buck artists that are all too common.It’s all starting to come together now. A PERFECT Home Based Business must FIT WITH YOUR DESIRED LIFESTYLE. And, it must be PROFITABLE, EASY, and REAL. Still with me? Good. More to come in the rest of this article series.Read the other articles in this series, or Click Here For Your Free Report: Discover The PERFECT Home Business.
A Simple Product Creation and Product Launching Formula
If you tried to think of people involved in product creation, who would come to mind? You may think of Edison, Franklin, or maybe Henry Ford. Would you ever think of yourself as someone who can create a quality product? Product creation is actually relatively easy and product launching is not that tough either! If you follow a few easy to understand steps, you could be starting the product creation and product launching process sooner than you think.
The first step in creating your information product is to know and understand your market. This can be very time-consuming, especially if you are unsure of what to do or where to look to know your market. Studying your niche market and understanding the buzz words and buying patterns can ease the process dramatically. Personally, I would recommend networking with someone who has had success in the niche market you are considering and learn from their results. If they are into product creation and not very business savvy expect some hesitation. If they only sell products and have nothing to do with product launching or product creation you may your first affiliate (sales person)! Something else you can use to find hot trends is with the Google Trends tool.
The second step is the product creation process. Take your niche market and brainstorm ideas and topics relating to it. There are a lot of product launching contests going on recently relating to a newly created internet marketing tool. There are so many aspects to the mentioned niche that literally, and unfortunately, anything can be considered an Internet Marketing tool. The reason that anyone can basically create an Internet Marketing tool is because of something called Private Label Rights products.
What I use private label rights products for, and highly recommend them in this specific manner, is to cure writer’s block especially when it is lingering. Many people base their entire product creation and product launching on a private label rights product. This is where you can start to shine and build a strong brand for yourself. If you set goals for yourself, short-term goals to be exact, you can see your product creation come into being much faster and there is a good chance with less revision needed. If you keep hitting time restraint road blocks; however there is nothing wrong with a slow and steady approach, you can consider outsourcing portions of your project. Outsourcing can be an extremely huge benefit or just as great of a disaster.
You can find someone to outsource work to at a freelance site such as Guru.com or eLance.com. When reviewing proposals it is almost mandatory you perform a background check on them as you are in essence hiring them. Doing a background check on freelancers is as easy as asking for samples of their work and reviewing feedback on the freelance site from previous customers. Depending on the size and requirements of your project this can add up to a decent sized investment, so caution is very important. One tip I always recommend to people looking to hire an individual is to ask them what they can provide you that no one else can. This simple question gives them a chance to “toot their own horn” and acknowledge where they feel most competent as far as their skill set.
The final portion of the product creation and product launching formula is the launch. This can literally make or break the effort, time, and maybe (if you invested) money you put in to your project. There are numerous aspects to product launching and although their relevance is debated in terms to their effect, experts agree all must be followed. The person in your field who you asked for product advice from can help you substantially if you have kept in touch. If not, the first thing you need to do is to create a visually appealing website with flawless design work.
I also mentioned outsourcing before, this is one aspect of product launching I have little strength in and I always outsource this portion. The website does not have to be large however the content (ad copy in Internet Marketing) must be stellar and as perfect as possible. This is where advertising knowledge or experience is beneficial. When the site is set up you now put a lead capture form on your website.
I put two lead capture pages on all products I create on the internet and is one of the best methods of getting a solid start when you are in the product launching stage. When you gain information from a prospect or someone looking to get paid for referring sales you are able to provide them updates or specials. Many people abuse their prospect or affiliate lists by in turn emailing them with a new product daily and I find the recommendations to be totally unrelated to their original need, problem, or interest.
Another stage in the product launching stage is creating a free report or demo version of your product to entice the product to sign up to your email list. Using proper follow up with this can help generate numerous sales for you. One thing you need to ensure is that your free product completely relates to your main product that you are looking to sell.
You are now ready to advertise your product launching to customers as well as the opportunity to sell for affiliates. This is the single aspect that many product creations and launches fail on. It is actually not entirely difficult. One thing you can do is write articles (and a good amount of them) on topics relating to your product. I am a huge advocate of giving a solution in forums. When you join a forum you are normally offered the opportunity to create a signature. In your signature, you should enter the link to your opt-in or lead capture page. When you respond to posts, you are advertising your opportunity.
It is not impossible to create a product and it does not have to take a long time. You need to setup a plan and stick to it. If you get stuck, look at similar and successful products to your own and try and see how they did it. When you sit down and brainstorm you will be surprised with what you can imagine.
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.