3/29/08

Is eBay Going to Obliterate Your Digital Business Dreams?

Own Your eBay TrafficOn March 24th, eBay banned all downloadable digital products from their system. Read here what they are saying.
So, as of 31st March 2008 if you sell digital items on ebay you will violate their policy. Now this will affects anyone selling digital items such as Websites, eBooks, digital audio and videos, graphics and any other product or service delivered electronically.

What Does This Mean?

If you are a Buyer, you will no longer be able to find cheap resale rights or private label rights for any digital product.

If you are using eBay to build your list, this indicates that you will no longer get thousands of new buyers on your lists each month the same way.

If you are selling digital goods you may lose your business!

Sure, you might be able to use the Classified Ads as eBay themselves recommends. But eBay reveals that you can’t use their system for profits. That means you can't promote affiliate programs, you can't use buy now paypal links, and you can't use Classied Ads to make direct sales.

But, you can use it for lead generation and this is a great way to build your customer base using your autoresponder and still making big money if you set an email marketing system. I’ll be back on this in just few seconds.

This may affect buyers and sellers alike!

If your clients are all over the globe your business will be affected seriously. As the delivery fees may cost you more than the cost of the product itself.

People may never buy from you if you are in another country for two reasons:
  • For one they can’t wait 10 days or more to receive your product.
  • For the second reason they may not pay the extra costs.
If your product is the only one (or one of very few) of its type you may not going to lose a lot of business. But then eventually your expenses will increase and profits will decrease.

Now, what is perhaps needed as an urgent solution is to make your items physical. And the best way to do this is to burn your item to CD Rom and send it via regular mail. This is not hard if you set up a system to burn and ship CD’s. This task can even be outsourced if you want. You just need to work out the cost of bulk buying CD’s, envelopes and add these to the delivery cost of your items.

You can also use ClickBnak.com to sell your digital products. So, go to Clickbank's site and create your own personal account and list your product there.

How to Use eBay Cassified Ads to Create Even More Profits

Using their Classified Ads system you can place email capture form with an autoresponder set up. In fact, thats the only thing you can do.

How can you make money with an autoresponder?

As you know with a good sales letter you can’t convert more than 3%, but if you use email marketing strategy you can get more subscribers promoting a FREE quality product and follow up with your subscribers until they buy or unsubscribe.

How it works?

Everything is at your fingertips. Just learn and apply...
By setting up this system you won’t only make few sales from time to time but you will create an intalled base base profit that results in significant monthly income.

-----------------------------------------------------------
Do you want to free yourself of eBay dependency?
The "Big 3" will do it --> #1) Own #2) Diversify #3) Build equity.
Now auction sellers can build REAL businesses that YOU own.
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3/24/08

How to perform market research for home business success


bizXpress If you have done your homework, you already have a good list of at least five business ideas and have select the business model you want to run. Your next step now is to perform market research to define which business ideas is realizable by analyzing your potential customers and competitors similarly. If you haven't did so already, I strongly suggest you go through the previous articles first, starting from here before proceeding with this one.

As discussed in our previous articles, a profitable niche selection process is usually start with your areas of interest, something that you have knowledge and are passionate or want to learn about. Finding a small business start up idea, small home business idea or home idea internet opportunity is the foundation of a profitable home business that will create your reaches and last for years to come. All the needed steps are well shown, you just need to follow the research process. There's some work to be done, but hey, you are building a business for the long haul!


What is Market Research?


Market research is a scientific process for collecting and analyzing information and data about potential customers and competitors. Its uses include to help finding a group of people based on variables like age, gender, location, income level, etc… that share a need and have willingness and ability to pay for the solution. Market research can be used also to evaluate competitors’ strengths and weakness to determine what your significant success factors are to position your home business in the market correctly.

Conducting proper market research before entering the market is the key to developing an appropriate market entry strategy for home office, home business, small business and large business alike. It allows investors to choose the right market entry vehicle, to tailor products to specific market segments.

Because now you are in this stage of business planning and preparation you nee to perform well on the track. You are building the foundation of your future career and many further successes.

Remember, you can't make money if you try to sell ice to Eskimos, or you try to create a new market। It's always better to find a hungry market and give them what they want not what you THINK they need. This is the main key to building wealth.

You can’t build a business based on estimates of future revenues and earnings. You need scientific and technical information, you need a comprehensive source you can trust. You should create a database that will address your business needs and gives you the functionality and reports you want.

It is definitely easier said than done. But don’t worry. I’ll take you step-by-step, from the beginning and teach you in plain English what you need to know and do, to make sure which small business start up idea of your selected ideas is more profitable. So, first lest start by…


Doing Market Research to Know Your Audience!


Whatever your business is, you have to know your potential audience. You have to know who your clients are, what is their problem, what they want and what makes them buy. Your task is to take the needed time and effort to put yourself in the shoes of your buyers. Otherwise you won’t get any! Knowing your customers means knowing their reasons for buying the product/service you are going to sell to adapt your product and marketing messages accordingly for maximum profits.


1 - Who Your Customers Are?


Your customers are every type of person female as well as male, every type of business on/offline that might need your product or service to solve a common problem, save time, make money, make life easier, etc…


2 - Discover Your Customers


Your first step is to go where your potential customers congregate to observe them. Go to forums or any other place where you can find your potential customers. Do not ask questions just heard, read and take notes to determine:
  • Their demographic (age, income, education, gender, occupation, background, etc…)
  • What newsletter they read?
  • What forums they visit and post to?
  • What else might do while surfing the net?
  • What kind of business are they involved in?
  • What questions are they asking?
  • What words they use? Ect...
Once you have a good idea about your potential customers, you need to go deeper to develop a solid understanding of what motivates and influences them to act।


3 - Prepare a List Of Questions


Prepare a list of questions or concernS you want to address।
Note: Always use your potential customers words where you can। When you use their words and feel their pain they feel that you are one of them you are not a stranger and they will be likely to answer your questions and share their thoughts.

Here is a list of questions you may use to get you started। You may ask them questions to find out…

1. What product or service may meet their perceived need.

2. How they want their problem to be solved?

3. The size of the potential market for a product.

4. To Discover what people want.

5. How much people would be willing to pay.

6. What encourages them to buy.

7. Best way to launch your product on the market.

8. What kind of solution are they looking for? Ect...


4 – Analyze Your Potential Customers


Once you have decided on what questions you want ask your customers – there are two main market research methods to analyze potential customers’ needs। The direct market research and the indirect market research.

- The Direct market research method: Go straight to your potential customers and ask them the series of questions you have prepared in advance. This can be done face to face. 

You can ask your friends, colleagues, your family members and others at institutions, organizations, etc... and everywhere you can find them across the country. 

You can contact them by telephone or by email. This kind of research is important in three ways. It can reduce uncertainty, risks and support effective decision-making.

- The Indirect market research method: This is research can be done via Journals, Newspapers, Surveys, Government publications, forums, discussion groups or via researching a particular database, etc.... These sources are easily obtainable. This information has been collected by someone else just lying around for you to benefit from.

Remember - your target market must be large enough to support your business. And its members must have sufficient disposable income to spend on your product or services. If not, the business will not succeed and nothing else in the market feasibility study, business plan, marketing plan, business performance improvement or time management matters.


Doing Market Research to Know Your Competitors


Conducting good market research to know you potential competitors is the key determinant to make success for business and market control.

Once you have located your market and have analized your potential customers you should know your competitors. Analyze their products, websites, marketing strategies and everything you want; then use this information to improve the product or service you offer, your marketing strategies and your Web site.

Market research to know and analyze your Competitors can help identify their strengths and weakness to position your business for high repeat sales and lifetime customer loyalty.


1 - Who Are Your Competitors


You need to take the time to determine who your competitors are? You may think your competitors are only home businesses, companies and marketers selling the same products and/or services that fills the same need as yours does। Your competitors are also other marketers or companies selling other products and target the same market?

For example, if you are selling a videos game your direct competitors are every marketer selling any brand of video games। But what about other games that involve computers and internet. These are your indirect competitors and they are targeting the same market.

First Begin your market research by investigating your main competitors। These are the market leaders, the companies who currently dominate your market and you have to fight with to get your share। Next, look for your indirect competitors.

After you've figured out who your competitors are, determine their strengths and find out what their weakness are?


2 – Prepare a List Of Questions


First and as done with your potential clients prepare a list of questions and find the answers. Here is a list of questions to help you get started...
  • Why do customers buy from them. Is it price? quality?, ect…
  • How does your competitor treat their customers?
  • What reputation your competitors have?
  • Do your competitors accept credit cards?
  • What equipment does your competitor use?
  • What marketing strategies they are using? Is it search engine optimization? Pay Per Click (PPC) Search engines, link popularity strategy, forums postings, articles marketing, press releases, etc…
  • Which search engines are bringing them traffic?
  • Which Keywords do they target?
  • Who is linking to your competitors websites?
  • Are they paying for traffic? What strategy are they using? Pay Per Click Search engines, newsletter advertising, or what?
  • How much are they paying for traffic?
  • Are they using email marketing strategy?
  • Do they use affiliate programs to market their products? If so, do they provide all needed tools to help their affiliates? How much they pay affiliates?
  • What traditional "offline" marketing they are using? Are they using direct mail, Yellow Pages, print ads, magazines, TV advertising, etc….


3 – Analyze Your Competitors


You can’t analyze your competitors face to face as your potential customers! But you can spy them legally using the following methods:

- a- Analyze your competitors websites

Do some searches using your favorite search engine. Type in your main keyword phrase and focus on the websites that rank high on the search results। Analyze at least the ten results.

Examining your competitors web sites and their pages is an essential part of competitive analysis and the best technique for optimizing your own pages and staying on top in your marketplace. Visit their websites and find out:
  • What do you like or dislike?
  • Does the web site load fast, is the design attractive, boring?
  • Are they using videos, audios?
  • Examine the titles and content. Pay attention to the titles and descriptions. This will give you an idea of the audience they are trying to target.
  • What keyword phrases are they targeting?
  • Are collecting visitors' email adresses? If so, what incentive are they using?
Use these free tools to evaluate you potential competitors websites' relative performance and rankings.

- Evaluate your competitors websites strength, importance and visibility with this all-in-one tool SEOmoz Page Strength Indicator 

- Check out their link popularity using this free link popularity checker tool

- Analyze their back link with this free Back Link Analyzer

b - Analyze your competitors products or services.

- Ask questions - Visit forums related to your business or any offline area where you can find your competitors’ customers. Post and/or ask question about your competitors products, questions about quality, customers service, functionality, the product features, and any other question you want to ask.

Analyze the answers and focus on the perceived strengths and weaknesses। Customer perception is an important factor of marketers’ relationship with their customers. Actually customer perception is more important than reality.

- Buy the product – Why not go more further and buy the product. Being your competitors customers will gives you an insight of how their customer service is, how the product really works, how they treat their customers and much more.

Put all the gathered information in a table form। Write down the names and or business names of your selected competitors. List all important details such as (price, quality, reputation, expertise, personnel, marketing, or whatever else is important for you) in separate columns.

Once you have this table set, rate your competitors, and make sure to put in comments explaining why you have given them that rating। You can color the strengths columns areas in red and weaknesses columns areas in green, so you can see at a glance where each competitor stands.


Determine Your Position In Your Market


If you have researched your market well, then you have fantastic ideas about your potential customers and competitors. You know the general wants and desires of your targets. You know also your competitors' weakness and strenghts. Using this information you can position your business for success and put yourself in front.
  • See if you can narrow down the reason why their websites t higher
  • IImplement their good ideas on your website. Go over your thoughts on the competition and take the best parts of their web sites, and try to apply them to your advantage.
  • What good ideas you can use on your website. Go over your thoughts on the competition and take the best parts of their web sites, and try to apply them to your advantage.
  • Determine what marketing strategies you should use to surpass your competitors.
  • Decide how to design your website. Do you need a professional designer, or can you do it by yourself? It’s up to you.
  • Pick the keyword phrases you need to target.
  • Offer your product or service as a benefit to the customer.
  • Decide how to price your product or service. This step is one is the most difficult steps a home business owner may face. So, be careful and pay great attention. 
As you can see a thorough examination of your competitors products and websites will give you a clearer picture of where your business fits in the competitive environment। It will also help you determine what areas you need to improve, and what characteristics of your business you should take advantage of to gain more customers. 

Getting information about your competitors can give you the leading edge, as it can show you ways in which your home business can be unique and can benefit the customer.

As your business develops, market research needs to be an ongoing part of your business। You should always be gathering information about your competitors. Visit and examine their Web sites. Read their newsletters. Use their products. See how they treat their customers. Make surveys to see how your customers feel about competitive products or services., etc…

Now you have all what you need to do to perform market research. Go through your business ideas one by one and find out which idea has potential for success.




3/17/08

What Business Model You Want To Run?


This is our seventh lesson in the series "How To Start Work At Home Business On Strong Basis" In this lesson we will discuss what business model you want to run and you should decide a model from the day one.

There are many ways to make money online. Online business is one of the most risk-free and least expensive ways to be in business for yourself today. But it can’t be done for free! You would expect some investment to be made, like office equipment, hosting and domain name fess, autoresponders fees, marketing budget, etc…

From day one you should decide what business model you want to adopt. This will make things much easier. You will then be able to know hat you need such as equipment, marketing budget, skills, etc…and concentrate on your chosen model, rather than jumping form model to model.

Your business model depends on your budget, abilities and the time you have available. The beauty of it is that you can create an expensive or as cheap business as you want. There are so many models to choose from.

What is a business model?


The business model describes the way in which a company makes money. Some models are quite simple. Some other models are complex. In general, to make money a company produces a good or a service and sells it to customers. Read more by going to QuikMBK at http://www.quickmba.com/entre/business-model/

Internet business model differs from offline business model. Online business models might not be so clear. There are many ways in which these businesses can generate revenue. For example, some make money by providing a free service and then selling advertising to other companies, even as others may sell a product or a service directly to online customers, etc…

There are MANY models you can use to make money online with, the key is in deciding on one you’re comfortable with and stick with it.

For example you can run:

Now, at this point, it's up to you to make the decision on what business model you want to use and start. What I want always to emphasize is, even if you have big budget to start with, start small. Then, when you start making money and profit, you can expend your business.

Start spending money on little things that you wouldn't have before. Hire some employees to help you, outsource some of your low-value but time-consuming tasks to free your time for more important business matters, etc…

3/13/08

Determine Your Small Business Financing needs

This is our eightieth lesson in the series "How To Start Work At Home Business On Strong Basis" In this lesson we will discuss how to determine your small business financing and where to find great deals on equipment and supplies to purchase and build longterm wealth.

Small business financing are nothing compared to the brick-and-mortar businesses, but you still need to make some minimum investment to launch your home business.

Starting a small business on a shoestring budget doesn't mean you can create a business for free! There's a small investment required up front to get it operational. If possible, it is better to start small, use your savings, and not worry about repaying a debt.

So, how much exactly do you need to have available to start your online home business? Find out how much starting a small business really cost.

You can use this Internet home business decision-making tool to decide how much money you need to start your business.

Often starting a business cost more than anticipated because there are more fees and small expenses than expected. But, by following a few simple steps you can help to cut the costs and save money.

Budgeting is very important when starting a business as many people find themselves constantly spending money on things they don’t need to get started. Always try and spend as much as you need but don’t be silly with the money, materials follow the law that if it is expensive it is good. Although it may not be worth what you are about to pay for it and you can probably find it cheaper elsewhere.

Determining your small business financing needs is crucial. Always budget for more than you are willing to spend that way if something comes up like an extra cost somewhere or something was more work than was thought out, then you are prepared for it. If you don’t budget then you will keep on spending and keep on forgetting where all the money is going. It is always the little things that bite you in the backside.

Home business start up capital is easily cut down by making sure you only buy what you need, there is no point purchasing something that you’re never going to use. That would just be silly and wasting money!

Costs are a very if not the most important factor in any business creation basically because you need money to start and run your home business, you can't get anything for free these days but you can minimize on the cost of things by a great deal by budgeting!

Once you budget all of your expenses, take an action to accumulate more money so that you're financially ready for a career move.

You may find it difficult to arrange funds for purchasing what you need to start and run your business especially if you are on tight budget. But don’t worry there are various options available to you without breaking your budget.

To reduce the cost of your small business equipment, furniture and fixtures, you must apply the following rules:
  • Look For Free Stuff – Try visiting the thousands of “freebie” sites on the Internet before buying business supplies. You can find free tools, software, graphics, online business services, etc....
  • Borrow Or Rent – Have you ever purchased any kind of equipment and only needed it for a short period of time? So, look around and you can find what you are looking for. You can borrow the equipment from people you know or see if you can rent it from a rental store.
  • Trade – You can trade almost anything new or used. You can trade items and services, business barter or home exchange for a vacation, boats, cars, homemade crafts, or even your time or the skills you've acquired. It's free! Try to trade for something before you buy it. Finding people to barter with can be as simple as telling your family, friends and neighbors. Just ask them to tell people they know. You can register for an online bartering service for free.
  • Used but not battered – If you can use used equipment and/or supplies, buy them. Used computers, Cars, desks, Shells, file cabinets, etc… can be found at garage sales, used stores, free publications, message boards, or online at http://www.buyused.com, http://www.ued-ed.com or any other service that much your wants and needs. Some excellent items are sometimes offered when a company decides to change place or is closing.
  • Wholesale/Bulk Buying – You can save money buying your business supplies in bulk quantities. You can use an online auction such as www.ebay.com or any of the other services to buy items wholesale. You can also buy your items from an offline auction in your area. I buy most of my office supplies/paper through a wholesale service, and delivers them to my door. No carrying from store to car to office, which save me time and money. Great deal huh!
  • Network – Could you trade traffic, email lists, leads or mailing lists with another business similar to yours? This will cut down on your marketing/advertising costs. If you don’t have an email list, try bartering your goods or services for their leads.
  • Plan ahead and prepare – Make a list of supplies or equipment that you’ll need in the future. Watch for stores that have big sales, and purchase your items when they go on sale before you need them.
  • Negotiate - This has become a lost art. You should always try to negotiate a lower price for any business equipment or supplies. It doesn’t hurt to try. Pretend you’re talking to a used car salesman. If you can master this art you will cut your small business costs at least by 30%!
Just remember! Not all millionaires have obtained their wealth through heritage; most of them were smart business dealers.

Small business financing is within your reach. Credit is available from commercial banks and other landers. But as a small and home business starter I suggest you use your main resource which is your own pocket. Invest your own savings or ask for help from your family or friends. Remember to start small and think big. Start small in an area of your business where there is low risk and a clear business BENEFITS associated with the project and expand your business as thing begin to grow!

Don't be another online victim. Watch this video and discover the truth!








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3/6/08

How To Find The Best Home Business Idea That Suits You Most!




This is our lesson number six in the series "How To Start Work At Home Business On Strong Basis" In this lesson we will discuss how to find the best home business ideas to create a rewarding and satisfying home business.

If you have done your homework and done it well, you will not be just beginning; you will be a step closer to creating your home based business. 

Remember, preparation is the foundation of success. So, don’t rush it. You are not in a race with anyone. 

You are creating a business that will eventually go beyond your direct effort and have a life of its own. The more you prepare and educate yourself the less anxious you will be and the better you will perform. Right? Ok. Let's move on.


What Home Business ideas That Suits You Most?




What you want to do now is to decide what home business ideas that suit your personality, aptitudes, skills and commitments. Have you identified your strengths and weaknesses in relation to running your home business? If your answer is no, do it NOW because you will be running your home business for a good few years and you should enjoy your work.

Choose home business ideas that suits your personality and never jump headfirst into something complicated. If you do it would be more work and more risk for probably not much benefit.

A good small business startup idea is the foundation of any successful internet business. But without proper planning, a new home business idea won't go anywhere. Finding the right home based business idea that suits you most and with big potential market before investing your hard earned money is crucial.

This step is one of the most important steps you need to perform. Even thought this step can be a difficult task, but it will keep giving for years to come. For that reason, you need to be careful. It is the foundation of your home business and you need to get it right before you start. Finding the type of business that best describes what you want to do will save you time, money and frustrations.

Finding home business ideas needs some search and it's not hard as you think it is. The best way to find what you want is to use our database. This method will show you tons of different niche marketing ideas that you can choose from to start your home business in the right way. Read more to fin home business ideas that will make your work a game.

Do you have experience, expertise, or interests you would like to share with others? 

Are you a football player? Do you have a dogs, cat, or other animals at home and you know how to deal with them? Any problems with your health condition(s) like I had with my weight? Visit my Natural Weight Loss Plan Website, it's all about my weight and health over my whole life. Take a look and be inspired!





3/1/08

Getting Organized to Ensure Home Business Success

This is our fourth lesson in the series "How To Start Work At Home Business On Strong Basis" In this lesson we will discuss how to get organized to do more work in less time, minimize pains and increase your bottom line.

Taking the time to get organized is just the first step. Maintaining organization is the solution for helping you to remain effective in your work. Getting organized will help you move quicker in the direction you want to make money working from home! Sometime new business starters (me included) are in such a hurry to see their business up and running, and forget about getting organized.

One of the things that will speed up and improve your business is getting organized before you start your home business. No, I am not a highly organized person but I have found some tricks along the way that have helped.

1 - Decide What Part Of The House To Use!

Find an area where you can work, giving consideration to efficiency and the eventual expansion of your business. Whether you will be working in a spare room or rent a workshop area. Any area will do even a corner in your kitchen, if it can hold your business supplies and equipment, and also provide security and independence.

Give yourself the space to do the reading, writing, planning, answering your phone calls, or any other task you want to achieve. How frequently you work at home and how much solitude you need will help determine the kind of space you require.

No matter what space you want to use to work from, you need enough light to see what you are doing without damaging your eyes.

2 - Organize your home business office

A computer, printer, bureau, filing cabinet, task chair, and bookshelf are the essentials. What I suggest the most is to have a comfortable chair! Working on computer for long hours is very hard. A chair that is not comfortable can cause discomfort or pain that will interfere with your performance. It will be very hard to concentrate and you will want to leave!

When organizing your home office, the first and foremost priority is going to be all that paperwork. The worst thing that has happened to me is when looking for a bill, a phone number, or important information I just can't find it! Even though I know that it HAS to be in there somewhere.

Make sure that all your essential things must be within reach. One can get a corkboard to pin important dates on to remember, a small drawer to hold the stapler, pens and other documents. If you needs to make or receive calls, the phone should also be placed at at a comfortable dialing distance nearby or beside the computer so if it rings, the individual can easily answer it. Other persons prefer to use a whiteboard rather than a corkboard to jot down notes or reminders. The choice is yours. Just make sure all your things are well arranged in a way that you can find and use what you need with no waste.

3 - Organize The House And Yourself!

To have more time for business, organize and simplify household routines. Have a family conference and divide household duties, making sure each person does his or her part. Set up a planning notebook to keep track of appointments, things to do, calls to make, errands to run, shopping, etc. Finally, set up a work schedule so TV, neighbor's visits, snacking, and telephone calls won't sidetrack you.

While planning every thing is highly recommended, you definitely do not have to plan every minute of your day to be organized. The planning task is to estimate in broad terms the potential demand for different levels of care. Never overload it. Your daily plan should always allow you time for spontaneity.

Getting organized doesn’t stop at arranging your home business office furniture, or brightening it up with some pictures. Getting organized means also having the ability for:

- Time management: You need to have the ability to effectively manage your time and prioritize your tasks.

- Decision-Making: Identifies problems, gathers data, and develops and assesses alternative courses of action when necessary.

- Initiative: A practical self-starter that maintains a high level of efficiency without close direction.

- Focus on your businessLack of focus is one of the main causes of failure in business and in every aspect of life, no exception! This is true no matter what you want to achieve in your life and business is no exception no matter what business you're in. You can make money on the internet without FOCUS!

4 - Determine How Much Time You Can Spend On your Home Business work!

Many people start a home business on a part-time basis while raising children or working outside the home. Others start full-time when family and finances allow. However before you begin, figure out how many hours per week you can devote to the business. Make a weekly chart of your activities, examine it, and determine where the business fits. Don't assume you have time and find out later... you don't.

Good personal time management skills are important for a successful career. There are more skills involved in time management than the core basics. Skills such as decision-making, inherent abilities such as emotional intelligence, conflict resolution and some other critical thinking are also essential to your personal growth.

I’m a firm believer that getting organized is key to success. Organized and skilled people are enjoying life. They're achieving their goals.They are getting things done in no time frame. They don’t waste time searching for lost items, or re-doing things. They don't miss appointments as often as the rest of us do. They can find the time to do what is needed and things they love, and to spend time with family.


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