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    4 Replies Latest reply on Oct 14, 2008 4:47 PM by soupson

    Home Business + Economic Downturn = ?????

    soupson Newbie

       

      First, I'd like to say that I am happy to have joined this
      forum a short time ago. Although I have never posted, I have
      found the posts enjoyable, amusing and informative.

      I wanted to post my take on a perplexing issue for some
      owners of home based businesses, as well as for those that
      are faced with the reality that corporate security is a myth,
      and that the only real security is having your own business
      to supplement or entirely replace an income.

      You are going to hear; now more than ever, all types of claims
      about the best ways for make money online, or why one business
      should be chosen over another. The unfortunate fact however,
      is that a lot of the claims is no more than smoke and mirrors,
      and the sales pitches are designed to separate you from your
      hard earned cash. There’s no free lunch … any successful business
      requires a bit of effort.

      A Home Based Business In Today's Economy.

      You will find that there are greater opportunities now more than
      ever before. In addition, if you do not get into a home based
      business to reap some of the profits that are out there, you are
      cheating yourself and being swayed by a media that is designed
      for an audience hungry for the negative. The key is analyzing
      the business based on what’s really going on around us.

      Selecting Your Home Based Business

      If you are looking for a home based business, keep this in mind …
      The people that are generating the REAL money online, are those
      people that provide the "tools" that help others find their way on
      the Internet. Let me explain what I mean....

      During the Gold Rush Days way back when, you would assume
      that the wealth was made by the people that struck it rich mining
      for gold ...and yes, you'd be right in a very few cases. But
      without question, the people that generated the most consistent
      income, the most sustainable wealth, were the people that supplied
      the tools.

      Fast forward to today. On the Internet, the consistent wealth is
      being generated by the Google's, The Yahoo's, The PayPal's The
      Godaddy's, etc.,etc.... the providers of the tools. And let there
      be no doubt …much smaller home based businesses that follow this
      lead, are earning as much money online as their goals allow.

      Following the model of the companies I listed above, and hundreds
      of other much smaller service businesses, failures are very rare.

      Why? Because these businesses provide a "Must-Have" service that
      virtually every other business in every industry needs if they want
      to play the Internet game, or even have a chance to succeed online.

      When times are good, these services are in high demand ...and
      when times are bad, these services are in GREATER demand.
      All of this means is that the home business owners that are
      on the right side of Internet service industry, are making
      more money today, than ever.

      Internet service businesses are generating profits from established
      companies that are aggressively trying to maintain and increase
      revenue, as well as from new business seekers that are aggressively
      trying to replace actual or pending losses in revenue.

      These businesses are relatively easy to start and maintain, generate
      money very quickly, and if you really have the desire, they can
      exceed virtually any 9 to 5 income in a reasonably short period.

      Looking for a Home Based Business

      So many questions in the forums are about which business to start,
      is "this" business better than "that" business. I think that in
      your consideration of an ideal business, this is what you should
      add these things:

      1- Is the business a "luxury" or a "necessity". More and more potential
      buyers will be asking themselves this same question when anticipating
      a purchase.

      If it is a "luxury" item, you will need to have a larger advertising
      budget than normal, and you'll have to be more innovative in identifying
      your customers.

      2- If it is a “necessity”, you will need to ask yourself, if the price
      is competitive. Can it be delivered on a timely basis, etc..

      If your business sells items that are not cheaper or easier to get
      than going to eBay, Amazon, Walmart, etc., you will need a larger
      advertising budget than normal, and you'll have to be more innovative
      in identifying your customers.

      Perceptive Internet surfers have choices ...a LOT of them. And a pretty
      website is simply not enough these days.

      I am sure you noticed that BOTH business concepts need the same things
      …an advertising budget and more innovation in identify your customers.
      But there is something that you must have in addition to money.

      What You Need More Than Anything Else

      You Need a SYSTEM. NOT a business. Most people are so concerned and
      worried about finding a business, that they forget that a well oiled
      system is the foundation of making any business successful. Your system
      should enable you to attract lines of potential customers to your offer,
      on demand. You should be able to target, identify and capture your share
      of an Internet audience.

      When you have this System, you are able to to sell just about anything,
      anywhere, regardless of price, regardless of economic circumstances. Your
      business is secondary. Your System is your business.

      With this type of system, it does not matter if your "company" fails or
      succeeds …you simply move or adjust your System and apply it to another
      company ...online or offline.

      Focus on a "System" that perfects the foundation of any company ...a
      repeatable method of targeting, identifying and capturing a customer.
      THAT is true financial security and peace of mind because with that
      foundation in place, it does not matter what "business" you choose.

      If You Are Seeking a "New Business"

      Most online businesses attempt to make you a glorified salesperson, working
      for an organization. Most people are simply not cut out for that. And to
      some, this fact is only evident after you've bought into the hype. Focus on
      on a company or concept that provides the tools that Internet citizens MUST
      Have. This kind of business will make your customers find you ..there's
      little selling involved because they know they need you ..sometime more
      than YOU realize it.

      The right kinds of online professions or service businesses will allow
      you to be very flexible and free. You'll be so diversified that a slump
      will have little effect on your bottom line.

      You can cater to customers that must have your kind of service no matter
      what. You are also in the perfect position to serve those customers
      that need your business in order to have a chance of making money online.
      In this kind of arrangement, the "house" always wins ...no matter which way
      the economy goes. Your client also wins, because s/he gets what they want.

      I hope this will be helpful to those seeking answers about a new business,
      and to those seeking an increase in revenue for their existing businesses.

      I have a lot of information, tools and resource that I can share. And a lot of
      tips, advice and insider information that may be of benefit.

      Of course, our companies provide free and contract services to new and
      established businesses, but if I can be of assistance to anyone here, I will
      do so if I can.

      All The Best,

      Soupson

      =====================================================================
      Rx For ailing Home Businesses – Professional Internet Based Business

      http://www.ProfessionalHomeBusiness.net

      =====================================================================

       

        • Re: Home Business + Economic Downturn = ?????
          LUCKIEST Guide
          Home Business, Welcome

          Great first post. Will check out your web site.

          This web site loves FREE

          Thanks LUCKIEST
          • Re: Home Business + Economic Downturn = ?????
            sdoleman1 Newbie
            I can truely appreciate your message, in particular the notion that it is more important in many cases to develop a strong system more so than the specific business one may choose. The greatest challenge seems to be getting people to drop their guard long enough to comprehend the simplicity of most of these on-line businesses. I partnered with several individuals and took the time to research and study the compensation plan of a particular company. Obviously, we had to first establish that the company was reputable etc. Almost immediately, it is was glaring that a simple business approach & system would allow individuals to move quickly & truely realize financial freedom. Rightfully so, many people are skeptical when they hear certain terms. Also, most people can't visualize having that kind of financial success by simply having the right system to follow & or approach. Simple doesn't mean no work involved, but once understood people are amazed and wonder why so many others aren't following the same steps. The why is because we have been conditioned to think a certain way & often form bad assumptions before having all the details.

            My challenge is getting what I know works in the hands of individuals that will take the time to digest it & put it to use. Would really like some suggestions. I have a system that will maximize the compensation plan of Company X, but I need to get it past the skeptics.

            Suggestions please!!!!!!!
              • Re: Home Business + Economic Downturn = ?????
                soupson Newbie
                Every business has a "number" ...whether good times or bad, every business has a number...

                1 - The biggest problem I have seen with most home businesses, is the absolute failure or refusal of the owner to understand the importance of stats. It is ALWAYS those things that you cannot see, that are the most vital to our success.

                I would first get a stats system like MINT or something similar, that would tell me where visitors are coming from, what they are/were looking for ....everything. It is basic business. I would bet that if anyone
                asked BOA about its' customer base, they could tell you just about everthing you could imagine ..and with these stats, they could almost determine or create fads or trends.

                So my first step would be to get a stats system that tells me everything (Let me know if you need help with installing one - if you have a UNIX system and cPanel with MySQL db...it is a 3 minute job).

                I would then develop what I call a "Dual Identity" system. When you are trying to identify a market on the Internet, you NEVER risk your main site, your reputation, your "brand"...but you MUST go all out in your marketing, take risks (if you don't have a lot of money) and allow yourself to make mistakes. Like a friend told me long ago ..don't doo-doo where you eat. Keep your main identity site pure and your aggressive marketing, leads and testing sites totally seperate. You'll get to where you want to go much, much faster.

                My dual identity system would be designed for lead capture and sales, and to determine which strategies converted better than the other. I would never, ever market an idea or setup a business with just one website. Have several sites and test several techniques at once.

                Stats won't lie and they will tell you exactly what works, very quickly, and what does not. You will find that over 70% of your marketing efforts are useless. Find the 30% as fast as you can and hammer away :-)

                THAT is when you will find ... your "Number" and what works. Fine tune what you are doing to the point where your "number" gets no better, but where it is scalable and repeatable within a 10% to 20% degree of accuracy.

                I'd also thnk about an affiliate software like JROX and submit to affiliate directories to get others to sell for me.

                When you have setup the above, **automate** all of it into a "System"... one that you can repeat without much intervention and one that you can scale up 100 times if you needed to.

                My system would include "link dropping" that would get traffic from blogs, boards and forums. I would also take advantage of free press release services.

                The rest will take care of itself. Don't get personal with ANY one business ...just keep building "Systems", attaching them to anything that attracts your eye.

                Your stats and your bank account will tell you what is best for you :-) Personal attachment to a business or an idea won't.

                That's my .02 and I'm sticking to it :-)