This is the sixth in a series of seven articles that tell you how to sift through all the home business opportunities you hear about every day, and find the PERFECT home based business for you.What makes an opportunity P.E.R.F.E.C.T.? In the first five articles in this series, we learned that the “P” in PERFECT stands for “Profitable”, the first “E” in PERFECT means “Easy”, the “R” stands for “Real”, the “F” means “Fits With Your Desired Lifestyle”, and the second “E” stands for “E-friendly”.Key Number Six-
The “C” in PERFECT stands for “Competitive”. Can your home based business be competitive? Can you win your share of the business, or even be a market leader?In your PERFECT home based business, you will offer products that are better, different, provide more value, or are offered in a different way, allowing you to compete effectively and get your share of the profits. Don’t make the mistake of thinking that “cheaper” means being competitive. Sometimes trying to be the cheapest product is a losing proposition for you, and also for everybody else trying to compete with you.”Competitive” means:• You have a unique selling proposition (a unique or better product or service, or one that is offered in a unique or different way). This gives you a way to answer your prospect’s question “Why should I buy your product, and why should I buy it from you instead of your competitor?”.While it’s great to have a better product, sometimes just having a better product is not enough to be competitive. According to another marketing expert Mark Joyner, you need to find a way to make an “irresistible offer” to your prospects, one that makes them feel like a fool if they don’t take you up on your offer. Then, you’ll really be “competitive”.If you create your own products based on your knowledge, experience, and personality, this will contribute to your unique selling proposition. Nobody else can offer your unique perspective on the subject matter you create your products around.• Your product and market enable you to be a big fish in a small pond.If possible, you want to be able to control the market in a smaller niche, not just get your small share of a larger market where you are one of many “same old same old” suppliers. Still, there’s nothing wrong with getting a small share of a very large market, if you can do it with your own irresistible offer. It’s just harder to be competitive in a large market.• Having a high publicity potential (news worthy, new, novel, popular fad or trend).This is certainly not the most important factor, but it really helps if your PERFECT home based business or product does have a high potential for publicity. You can get thousands of dollars in free publicity if you can get press coverage and internet coverage by writing “news worthy” news releases and articles.• Rapid, wide distribution can be accomplished.The first to market with a new product often wins the highest profits and gets the highest market share. Whether your product is “new” or not, you need to get the word out about it quickly to the broadest audience to be competitive and remain competitive. Sometimes the best protection you can have for your product, even better than patents or copyrights, is to make sure the whole market knows about it first and fast.We’re almost there. The PERFECT Home Based Business must be COMPETITIVE. And, it must be PROFITABLE, EASY, and REAL. It must FIT WITH YOUR DESIRED LIFESTYLE, and must be E-FRIENDLY.
How To Discover Your PERFECT Home Based Business – The Sixth Of Seven Keys – It Is Competitive
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.
A Guide on Successful Product Creation and Internet Marketing
Product creation in Internet marketing is getting stiffer and stiffer nowadays owing to tough competition between Internet-based businesses. Putting up a new product requires plenty of brainpower and finances along with an ability to take risk. With that, even if you have the product well-set already, you have to position it strategically in the Internet landscape for others to notice. You should get the interest of Web users and turn them to actual customers. Aside from the usual physical products, many different products that thrive well on Internet marketing include E-books, membership sites, and video lectures.
The long and difficult process of product creation begins with ideas. They are easy to get – compared to the effort that comes with analyzing the market for that idea. Before the idea turns to a product, businesses often spend money, even amounting to millions of dollars, to ensure the success of the new product that emerges from an idea. Businesses undertake many types of market research and surveys before releasing their products to the public. Now, you may think that because your business is small, you can’t afford research or you don’t have to do research; you can and you should. The Internet allows you to disseminate materials needed for your market study to many people at once without your having to spend a cent.
It is a common maxim in business: Look at your destination first before mapping out your journey. So what are the goals you intend to accomplish with your product creation ventures? The everyday travails of your business may make you forget the end in sight. On the other hand, prepare to entertain new developments that come to your mind in your product creation. Your conception of a product may have started this way, but a few tweaks here and there along with some market research results and it ends up another way. Take it as the result of a creative process, not as a failure to reach your goal. After all, your product creation activities are intertwined with a long-term goal that you should strive to sustain at your utmost: profit generation. So if your less profitable initial idea evolves to a more profitable product, be thankful!
With your product made up already, start doing some aggressive Internet marketing. A product purchase typically comes after more than five times a customer is exposed to an informative call-to-buy message. Thus it is important to get the contact details, like the e-mail address, of potential customers who are on the brink of a sale. Use the results of your market research to determine the demographics to which you should concentrate your marketing efforts.
With consistent product creation, you can make an inventory of your products that you can market in due time. Just keep making products – the moment you succeed in making and marketing a product, customers are surely wanting more from you, so give it to them. Keep them on your side through constant product creation.