Home Based Business Vs Traditional Business

There are many home based businesses available to people who have the desire to work from home. However, the number of them that require a large investment of time and money are high while there are only a select few online business opportunities a person can work from home which require a small investment and little or no risk.

People who are interested in starting a business, whether it is a home based business, an online business or a traditional brick and mortar operation do so in order to earn money and make a profit.

Profit is money a business earns above and beyond the money it spends for salaries and other expenses. Business people make profits by taking risks. Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable. A loss occurs when a businesses’ cost and expenses are higher than its revenues.

With a traditional business there are lots of expenses involved, including over-head and salaries and the business owner’s risk is very great. That is why a large percentage of businesses fail after a few short years.

However with a few of the online home based businesses anyone can begin building a dependable and solid income with a small amount of money or capital and little or no risk whatsoever. Age and education don’t matter.

So with the right online business opportunity a person has the chance to take control of his or her life and gain freedom from working a regular job. There are only a few legitimate home based business opportunities available today with unlimited earning potential that are designed with the average citizen in mind.

One online business focuses on selling internet addresses or domain names, which is a booming industry. Industry experts forecast that more than 500 million domains will be registered in the next ten years. In fact, reliable sources from companies like Intel are predicting that every personal computer in the future will have its own domain name.

Establish A Mechanism for Home Based Business Sales

Are you struggling to generate a steady significant stream of home based business sales? Are you tired of not having enough home based business sales to offset your costs?What I’ve realized learned from some of the best retailers of home based business sales products is that you need to do this one thing really well to boast your revenues. It could be true that you may be an excellent one-to-one salesman and can probably sell ice to an eskimo. However, that is a very difficult skill to duplicate down an organization. Let’s face it: super salesman do not grow on trees, and very few amounts of people that you will come across will actively and passionately go out and sell for the sheer love of it.The truth is that most people are deftly frightened of sales.They don’t like it, they secretly feel embarrassed of the products they have to offer, and they feel sleazy for selling to people. So as a team leader, you must find a resolution that will take the individual pressure off of them but still be able to tap in to their networks. And what do the top retailers do?The best home based business sales retailers run events!OK… maybe that’s not a well-kept secret, but there’s a science to how you run events that determine whether or not you leave with a sale or empty-handed. Here is what separates a typical event from a selling event:1) You must provide value -Our most effective home based business sales events occur when we dispense valuable information to our target customer base. Case and point, my wife is a great retailer. She specializes in cosmetics, and as a company trainer, she is also a certified makeup trainer. She invested in herself to make herself in to a makeup expert and uses her expertise to boost her sales. She conducts general education classes and makeup workshops that target ladies who are interested in learning professional-grade makeup techniques that are simplified for everyday use.By providing this value, she is able to attract a larger volume of guests, which increases her chances of completing a sale, a powerful form of attraction marketing.2) Product Demos – If you’ve never done a product demo for your home based business sales events, you are losing valuable sales opportunities. One of the lessons that I’ve learned being in network marketing and seeing so many affiliate products, mine and others, is that most products are top-notch. Very few network marketing companies carry inferior products, but the downside is that they also don’t invest in mass market advertising, which is why you are involved in your home based business franchise. You are the marketing mechanism for them.Think about it: if demonstrations weren’t powerful, why would infomercials, Costco, department stores, and kiosks at the mall all utilize this strategy to draw you in?When you host your events, you should always focus on doing some sort of demonstration of your product after the general information has been covered. Make sure you pick products that have symmetry with the topic that you are covering at the event, else it loses its value.When doing your demonstration, be sure that if you are promoting a health and nutrition product, have a control piece as well. What that means is that you should have a demo without using your product to demonstrate to the audience the difference of using your product, and what it means to not use your product. For my website company, we have programmers sit down with the prospect and show them the capabilities of the website via live webinar to demonstrate the ease of use of our platform website builder.3) Have Roles -A well-run home based business sales event needs to have team unity where each team member knows their role in the sales process.- You always have a presenter who gives out the information. That person also does the demonstration.- Another team member sets up the demonstration while the speaker is engaging the audience.- A team member needs to greet the guests as they come in and help them get situated by filling out a questionnaire to extract extra information (i.e. “What question do you wish to address in terms of health and nutrition?”)- You need to designate a sales person. That person should be the “closer” that collects the payment and is responsible for upselling packages and promotional items.If you have a team that is well-versed in these tasks, then you will watch your sales revenues spike because it’s not reliant on one person doing everything.4) Build Packages and Promotions – Sales sell in a traditional business, and so too in a home based business sales event. Try to create promotional packages grouping several products together, or run a special on promotional items to entice customers to buy at the event. Make sure you stress that the sale is ONLY for this event so it creates a sense of urgency.Promotions that work best for us are bundles of several low-end items, as well as offering tiered pricing and incentives for purchasing a certain dollar amount. In comparison to events that don’t have packages, sales for packaged items always increase overall sales by 33-50% at our events.5) Always Promote the Next Event – We have a saying in our company: “Who’s the best speaker? The next speaker!”What that means is that one of the keys to genuinely strong home based business sales teams is that they always promote the next event before the current event is over. It opens up the opportunity for you to book your guests for the next appointment. It also allows your team to provide incentives for guests to invite their friends to the next event, which will organically grow your retail audience and increase potential of sales.Make simple, effective, and professional flyers for the next event and have them ready to distribute to the attendees. Give them a few extra to give to friends. If you use that incentive suggestion in the previous paragraph, they will no doubt be motivated to promote the event for you. We offer discounts for customer from the current who attend our next event.Conclusion: At the end of the day, it’s all about teamwork and commitment. When you have a group of entrepreneurs that are dedicated to generating significant revenues for yours and their home based business sales events, then you will have the beginnings of a fantastic lasting formula of success. If your speaker does a good job, they will have already done half the sale because they stressed the importance of why the product is needed. The demo moves the customer to want to buy, and the closer comes in and finishes the job. It’s a fluid sales process.Now that you have learned an effective mechanism to boost offline home based business sales, let me introduce you to a way to leverage the internet sales aspect too. Would you rather have only one channel of distribution, or two? Multiple streams of revenue are always a plus, especially if they work in unison.There are a lot more tips that we can share for running events, but to go on and on would take all night. If you can’t wait until our next piece for more retailing tips, then reach out to me via my blog and I will be glad to help.

Plan To Succeed With Information Product Creation: Why You Need To Split Your Process Up

One of the keys to succeeding in information product creation is to break the process up into discrete steps. This frequently isn’t an instinctive reaction for the typical information marketer. Especially on the internet where small sized learning products are the norm.

However, it is extremely important to your ultimate success. In fact, I would go so far as to say that if you don’t do this you probably won’t succeed… even when you are starting out let alone as you move forward.

Your product creation system should do this for you if only to help you to understand the overall task.

But why?

In this article, I’m going to ignore chunking and focus on the practical aspects. That’s not to say that chunking isn’t important. It is. It’s important to understanding and to learning the process. But while you can use the same chunks as you move forward, long term your focus needs to be on the operation of the system not the understanding of it. Unless of course you are constantly training new people!

So why is chunking important to long term use of the product creation process? (Yes, I know systems design uses a different term for this process but I’m not teaching you systems design. So I’m going to use the word learning content designers use.)

The first reason that having individual discrete tasks is important is one of schedule estimation. Frequently it is very difficult to estimate how long the total task of creating a product will take. After all, the size and type of the products matters as does the number of products in your product funnel. And those are just the most obvious elements. However, estimating a discrete task is often much easier. The total can then be estimated as the total of the discrete tasks.

Secondly, scheduling a large task can be problematic. However, by segmenting the task into a number of discrete tasks, you gain a much greater flexibility in scheduling. Not only that but as your business begins to add people you are able to schedule multiple people to the product creation.

Finally, segmenting a large task into smaller discrete tasks allows you to have much better control over the product creation. This affects two different areas — status and quality.

By segmenting your process into discrete tasks you are able to schedule and record the progress at much more detailed level. As a result you are more in control of the status of the product creation. You know what everyone is doing. When they should complete it. And how much it should cost. You also know exactly what has been done.

You also improve your overall quality. Instead of waiting until everything is done you can check quality as you go. This allows you to immediate react to low quality products without absorbing their costs. This means that you have less rework and your rework costs less. And if the product is not going to meet its quality requirement you will know about it in time to stop the development, change the requirement or fix the product.