Home Business Center – Learn to Work at Home

One of the most important talents any management team of a business can have is to be able to detect changes in the marketplace and adjust how the business operates to function in that new market. Some call it “thinking outside the box” and others refer to this talent as “working with a new paradigm”. Whatever the term of the day is, without the flexibility to change as the market changes, a business is destined to fade away.

Of the many business and market trends that have changed the paradigm by which business is done in the new century, internet marketing ranks near the top of the most drastic and sweeping change that virtually every business has had to adapt to in order to survive and thrive in the new business world.

At first, most in the business world considered the internet to be a toy and perhaps a good communication tool. But in the last decade, the power of internet marketing and the need to compete in that marketplace has never been more evident. And just as business learns new marketing and communication methods when they enter a new market such as learning to do business overseas, the internet has brought with it entirely new tools and weapons that the modern business must learn to use skillfully to succeed in a cyberspace business environment.

Of the many new acronyms that have been added to the business vocabulary, “SEO” is one that is central to success in the internet marketing world. SEO stands for “Search Engine Optimization” and it is an entire discipline unto itself. By learning to utilize well developed SEO methods, a business can learn to dominate their particular market niche even in a cyberspace business world.

Just as in the conventional business world, to be successful with a particular market, you have to go where they are and learn to get noticed and get your message to the consumer even as your competition is doing the same thing. In the world outside of cyberspace that may mean various methods of advertising, promotional campaigns, good customer service and a long term promotional strategy that will grow the businesses market presence over time.

All of these business objectives remain the same in the world of internet marketing, but the “places” customers can be found are profoundly different. As such, it becomes critical that a business builds a modern and up to date web site that appeals to the customers perceptions of what they will expect when they come to shop with you and that stays up to date continuously s the internet continues to change and evolve.

But it isn’t enough to just have a state of the art business web site up for modern internet business web site to succeed. Just as to be successful in the physical world, customers must come to you or you must go to them. And the primary method of letting customers know who you are and drawing them to your well designed web site is to connect to them through a search engine such as Yahoo, Google or MSN.

Search Engine Optimization methods are powerful techniques that can be used to assure that when your customer looks for a business such as yours, they will notice you first and your competition second, or not at all. That means when the customer “searches” for your product or service on Google or another search engine, your business comes up on the first page of selections that the search engine finds.

SEO takes time, investment of funds and talent and skill to work with the search engines so your business gets that kind of attention. But it is worth the investment because the outcome can be an internet business presence that bring the kind of success every business wants.

Did you know that, in Australia, 60% of small businesses fail in the first twelve months? For those of us who would like to start a small business — maybe even work from home — that’s a very discouraging statistic.

Does that mean that your business idea is doomed to failure? Far from it! There are steps you can take that greatly increase your chances of success. With a little time and some serious research you can hit the ground running. Let’s start from the beginning…

The bright idea

First, of course, you need to come up with an idea. Typically, business opportunities can be divided into four groups:

1. Offering an existing product/service in an existing market.
2. Introducing an existing product/service to a new market.
3. Offering a new product/service in an existing market
4. Introducing a new product/service to a new market.

At this stage of the game the only limit is your imagination. Inspiration can come from anywhere — maybe you have a hobby that you’d like to turn into a full-time job; you may be on the receiving end of bad service one day and decide to try doing it better yourself; or you may have a talent that you’d like to capitalise on.

Once you’ve come across something that you’d like to do, it’s time to take a look at the market and see what’s on offer.

Passing the test

So you’ve had a great idea and you’re keen to roll with it; now it’s time to put it through its paces. For the purpose of the exercise, let’s say that you have a passion for healthy living, and that you want to distribute a range of lifestyle accessories that promote healthy living with a do-it-yourself approach.

Ask around: Is there a market for products that promote healthy living? What sorts of products are available? Who would you be competing with and what do your competitors offer? Do you have the necessary skills to run such a business and — more to the point — what would those skills be? Where would your business be located?

Once you’ve answered those questions you should have a fairly clear picture of what your business will look like.

You source some products and decide to do some further research into the range of lifestyle products offered by a company called Vitality 4 Life. Your own life experience plus some work you’ve done as a dietician has given you the necessary skill sets, and you think that you’ll be able to work from home, giving you more time for family. There is an existing market, but there’s room for expansion. Now it’s time to take a closer look.

To be or not to be?

It’s time to get down to the nuts and bolts. You don’t want to jump into something feet first and find out the hard way that the budget just doesn’t work.

To get started, sit down and work out if you need to hire staff, which means paying wages.

If you lease a premises you’ll need to be able to pay the rent, and your location will have to be suitable for your business and target market (which also means that you’ll have to think carefully about just what that target market is). You’ll also need to work out the likely demand for your product/service.

Ok… you’ve worked out that there is enough demand for good quality juicers, sprouters, water filters and other high end accessories to take a shot at a distributorship as a home-based business opportunity. Now you need to make some marketing decisions.

Look at me! Look at me!

Advertising can be costly so you’ll want to be sure that your advertising budget is spent wisely. That means more market research, this time one-on-one. Profile your customer groups so you can aim your marketing at the right group/s of people.

Draw up a questionnaire (a short questionnaire — people run out patience if you ramble for too long) and hang around outside a few of the local gyms (for our particular example). Come up with a mixture of open questions (What do you think of……..?) and closed questions (Do you have a gym membership? Yes/No.); sliding scales can be useful too.

For our health accessories business, a good question might be ‘How did you hear about this gym? Radio, tv, newspaper, word of mouth etc…’ Such a question would then give you an indication of the types of media that your target group responds best to.

Choose a business name, print up some business cards, buy some stock and get ready to trade!

Measure it, manage it!

A teacher of mine made the point that, in business, if you can’t measure it you can’t manage it.

You need to be able to plan ahead, and to do that you need to know — or to be able to accurately predict — your total sales. The equation is simple: number of customers x average sale x frequency of visits per customer per year = total sales. Remember it, revise it often, measure your business and you’ll be able to manage it!

Keep an eye on your bottom line and, most importantly, always be aware of your cash flow — the cold, hard cash that you have in the bank. Allow for invoice periods (14 days, 30 days etc) when you’re planning your budget.

The market place has a life of its own, and no one can prepare for every contingency. Put some thought into your idea; make sure that there’s a market for what you’re offering; research, research, research; promote your business effectively; always know what’s going on in your bank account and don’t forget about cash flow!

It’s not perfect but, if you follow these few simple steps, you’ll be miles ahead of many new small business ventures. If you’ve heard of a great home-based business opportunity, or have a product or service of your own to market, you’re off to a great start!

First, and as important to your success as anything you learn here, is clearly understanding how eBay users find things to spend their money on.

No matter what type of buyer they are, no matter where they come from, they all use the same tool to find auction ads;

“They use the search bar to type in general terms..!”

Very rarely do buyers check the “Search Title and Description” checkbox and start browsing the more specific results. Heck; the checkbox isn’t even an option on the front page of eBay, you actually have to do an “Advanced Search” to even have that option. This just confirms the importance of your title keywords.

Some do browse categories rather than search, but we’re mainly concerned with general majorities here, not exceptions to the rule.

In case you’re unaware, this means that most searches are ONLY CHECKING YOUR TITLE, not the words in the description area of your ad!!!

Experience tells me that, since you now know this, you are actually way ahead of 70% of the other eBay sellers out there; and that’s a very conservative estimate..!

Now that you have a clear understanding of the importance of your title keywords, here’s a priority list for precisely picking the right ones for each of your ads:

Take these rules literally, but understand that each of these will not apply to every ad that you run. You have a maximum of 55 characters allowed for your title and just try your best to achieve as many of these as possible in this limited space.

1. Obvious keywords that are specific to the product you’re selling and make sure that they are spelled correctly.

2. One or Two misspellings of the obvious keywords from the last rule. (Google says that 33% of all searches are misspelled) …CATCH THAT? One Third! Don’t Forget This Part.

3. One or Two general eBay keywords such as “nr”, “n/r”, “no reserve”, “free shipping”, or “lot”. These are keywords that a lot of pro buyers search for.

4. Other general keywords like “new”, “free”, “excellent”, “pc”, “usb”, “dvd”, “wholesale”, or “supplies”. You can only use ones that are relevant to the product you’re selling, but these are very powerful.

Now, take these rules and create a list on a piece of paper each time you’re about to list an ad. Usually the list is way too big to fit into the title. Once your list is done, start narrowing down the list using the priority structure that I just gave you until they do fit into the 55 character limit.

If you have more than one of the item to sell and intend to list multiple copies of your ad, be certain to take the time to create different titles for each one!!! If you don’t, and you just use the same title for each copy; you’re just wasting money. Multiple versions of the same ad with different titles for each can really increase your traffic.

Respectfully,
Chuck Mullaney

https://secure.iauctionsuccess.com