If you are reading this article right now, there is a good chance you are looking for a part time home based business. There are several reasons why you may be looking to start a home based business and in this article I’m going to discuss the advantages of a home based business and how you can sort through the thousands of opportunities available and find the right one for you.The Advantages Of a Part Time Home Based BusinessFirst, let’s start by talking about why you are looking for a part time home based business and some of the advantages that go along with it. Statistics show that over the next 3 years, more than 79 million people will start a home based business. I know from experience that most of those people will still be working a full time job so they will most likely will not have a lot of extra time on their hands.One of the biggest advantages about a part time home based business is that it is quite possible to generate a full time income, without a full time effort. Not everyone who starts a HBB is doing it to quit their day job, or replace their income. A lot of the time they are just doing it to have some extra money to pay bills, go on vacation, drive nicer cars, etc… This is why a home business so attractive to most people. There is also another advantage for people who are looking to quit their jobs and replace their income…If you are looking to be able to quit your job, you most likely are sick of working long hours and never having any time to be with your family or to do the things you enjoy. With a part time home based business you have the ability to earn a hefty full time income, but without working the long hours and having the daily commute. This is ideal for someone who wants the financial and time freedom for themselves.How To Find The Right Part Time Home Based BusinessThis can be a little tricky. There are literately thousands upon thousand of opportunities out there so how can you possible know which ones are legit, and which ones are right for you? The biggest factor in finding the right one for you is going to come down to how much time you are actually willing to devote to your business, and how much income you are looking to make.There are many part time home based business opportunities that are low cost but require a lot of work. In this case, to actually make a nice profit will take some time. If you are just looking for some extra spending money and are in no hurry, this is the route you should go. On the other hand, if you are looking to quit your job and replace your income or need money faster, then it’s going to be worth investing in a business that provides you with an opportunity to still work part time, but make a lot more money in a shorter period of time. Basically, a business in a box.A typical home business will provide you with the basics, and you will have to do the work of building your business (marketing, generating leads, closing leads, etc…). A business in a box type of business is one that will not only provide you with a great income opportunity, but it also provide you with tools and training so you don’t have to worry about all the marketing, generating leads, and closing sales. While it is somewhat more expensive, the income opportunity is a lot greater and there is obviously less work involved.
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.
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.