My wife has been operating her eBay business now for about 3 years. I have watched her progress with great interest; the jubilation and sometimes her utter frustration. Her original intention was (and to an extent, still is) to build a successful business to add to her other business interests. Whilst personally, becoming a member of the eBay community has never really set my pulse racing, I have no doubt that for some, the business can prove lucrative and sometimes, fun.As with any new business you are proposing to get into, it is important to have a plan. Yes, the plan can be modified with the benefit of experience, but it really helps to determine in your own mind, what you want to achieve from the business at the outset and how you are going to achieve your goals. This is as important with eBaying as it is with any other start up home based business.It seems to me there are predominantly three types of eBayer profiles:First we have the “dabblers”. These are people who enjoy the experience of selling the odd item here and there. The items they list are usually sourced from a clear-out of the attic, children’s bedroom and garage etc. Expectations in terms of earnings are usually very modest and if they end up getting a few dollars for unwanted items and at the same time de-clutter the house, well the exercise is worthwhile and satisfying. The dabbler usually has no ambition to take the business any further. In essence, eBaying from time to time, is a hobby.Next we have the person with slightly more ambition; someone who wants or needs to make a part-time income from the business. This could be a work at home mom or someone who is already working for an employer part-time and wants to continue to earn the same level of income, but working for themselves at home. For such people, the need is to sell items on a daily or regular basis; therefore, the challenge is to find a product or products which are in demand. For example, my wife is very smart at making girl’s dresses and she also knits really nice sweaters. She also sources kid’s necklaces and bracelets. These product lines form the basis of a nice little income. I think the point about the products you sell is that you don’t necessarily have to sell manufactured items. If you have a talent for making or creating things, why not put those talents to good use.Lastly, we have the Powerseller or wannabe Powerseller. These are people or organisations that are deadly serious about making as much money as they can from their eBay business. A new level of sophistication comes into play; bulk purchasing of products, storage facilities, often a fully customised e-commerce website and a finely tuned marketing strategy. Given the number of sales the powerseller makes, some prefer to use the services of a drop-shipper i.e. they outsource the order fulfillment side of the business to concentrate on marketing their products. They have also developed their own product niche and of course, made sure their pricing strategy is highly competitive. The professional powerseller is always mindful of his reputation and therefore has to maintain a high feedback rating (as near to 100% as possible). Yes, make no mistake, some powersellers make a very good living indeed, but the demands of being in the top echelon of eBay, in terms of time, commitment and energy are not going to be for everyone, even if they do have sufficient business acumen.So, if you have been contemplating becoming an eBay seller, which category do you think you might fit into?
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.
5 Pillars To Success That All Home Based Business Opportunities Must Have But Don’t
Are you researching home based business opportunities right now but don’t know which one to go with and feel a little confused and overwhelmed now?Trust me I know where you are.I’ve been there before back in 2008 to be exact.That’s when I decided that I no longer wanted to be in a traditional network marketing company that relied on face to face meetings, home parties, and all that stuff.I wanted to build a business online where if I didn’t want to I don’t have to leave the house.I mean it’s called home based business for a reason right?Lol.There were so many different home based business opportunities out there.All of them promised you the world but only a few could follow through with it.And so I am writing you this article so you don’t have to be confused anymore. I’m going to guide you down the right path so you will know what to look out for.Deal?Good, let’s get started .When it comes to looking at home based business opportunities you want to make sure that they have 5 things so it can be as automated as possible.That’s what we are going to discuss right now.Home Based Business Opportunities Success Pillar #1 – High Converting Lead Capture PageThe purpose of this is to start the automated process and provide ultimate leverage. The lead capture page has some wording on it that speaks to why the person is viewing the page at that moment. Then it has a box for them to put in their email address.Your only focus is to get as much traffic or eyeballs or visitors to your lead capture page as possible. The best home based business opportunity has that readily available for you too.Let me ask a question with a very obvious answer. Would you rather send massive traffic to your lead capture page or physically meet people to do a presentation?Which will provide more leverage?Home Based Business Opportunities Success Pillar #2 – High Converting Sales VideoThe purpose of the sales video is to do a presentation for you every single time. Now this is seen after someone puts in their email address on your lead capture page. The high converting sales video does all the selling, explaining, and telling for you.It handles the objections that you would normally get and eliminates all rejection. It works for you 24/7 and never calls in sick. The really good ones do such a great job that they build a level of rapport with the prospect and gets them to buy right away.This is without you having to pick up the phone. How cool is that right?Home Based Business Opportunities Success Pillar #3 – Automatic Follow UpThere is a percentage of people that won’t buy right away. No problem. That’s why you have an automated follow up system with them to stay in contact with your prospect. This is done effortlessly and allows you to now connect with your list on a personal level.I’m not asking you to pick up the phone and call someone every few days to see if they are ready to join you in business. Forget that. Let your automatic follow up process do that for you. Some will buy in a few days, weeks, months, and or in a year.It’s totally up to them. The good part is you are not stressing about it or working harder because this too is automated.Home Based Business Opportunities Success Pillar #4 – Low Price Introductory OfferI first saw how powerful this was back in 2009. At the time I was in a high ticket direct sales company. They had a low price point barrier that allowed those that were somewhat serious to get their foot in the door. That satisfied the itch that they had.The reason this is so brilliant is because it is at a price that everyone can afford. So it really eliminates all the excuses that people have when they are looking at different home based business opportunities but say they can’t afford it.Just remember this, a low price point gets massive amounts of people in the door which is what you want.Home Based Business Opportunities Success Pillar #5 – Higher Backend ProductNow this right here my friend is the ultimate leverage part. This is what I call walk away income. As you saw in part 4 you have a low introductory offer to get them in the door. Once they are in the door you can now introduce them to other products that are of high value that they feel compelled to buy.This is to the point where they just whip out their credit card and buy everything. And listen to me my friend, this is without you having to pick up the phone. So when I say truly automated, it really is.The reason why I call this walk away income is because of the insane amount of the commissions you can earn. One sale can literally replace your monthly income (depending on how much you make). Nice huh?So you see my friend it doesn’t matter how many “home based business opportunities” you are looking at, if they don’t have all 5 pillars that I mentioned then you are going to be working way to hard and earn peanuts.Trust me. I’ve been there too and it’s not a good look.