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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.

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Get the Most From Your Home Based Business

If you’ve found this article, it’s probably because you are looking for something and, I’m going to hazard a guess that it’ll be either a way to earn more money, have more leisure time or a combination of both…yes?Also, guess what? I bet you’ve been unhappy, overworked and underpaid in your current job for far too long and, on top of that, you work far too many hours, you’re totally unappreciated and are fed up with the commute every day.This has really hit a nerve… Right?Oh, but then nowhere near as much as the title of this article.”Get the Most From Your Home Based Business”. “Oh no! not another Work From Home scam” you’re thinking. Your mind catapults you back to trudging the streets in the cold and the dark with endless bags of leaflets to put through endless letter boxes. You cringe as you remember being phoned by the local council for fly postering on lamp posts, why did they always pick on you?….The phone number at the bottom of the poster might have been the give away! Your sponsor or mentor seldom called or contacted you and when they did, they didn’t seem to know you anyway. Then you sink even further as you remember how you consumed more of the company’s products yourself than ever you sold and how you stumbled clumsily down the road with every type of brush, broom and cleaner stuck in every nook and cranny of your body and… what have you got to show for it?Yep, you’ve wasted more money on unsuccessful attempts at “Work from Home” businesses than you ever want to admit… and why? Only one simple reason…. you just needed to know what to look for…A system that worked!I know it sounds really too simple but it’s true. OK, even as on-line opportunities began to emerge which cut out the leaflet posting and fly postering, I bet you still paid for some of these, made little or no money and then was just been left to get on with it yourself?One person who can totally sympathize with you in all this, is me, as I’ve been where you are too. And like me, you want to work from home, so what do you need to look for?Well, when you look again to set up an on-line business. Look for a business opportunity that employs good business systems that you can follow. Use this check list and do your due diligence as if you were setting up a traditional business.
Check that you’re not going to be left alone to fend for yourself. Choose a mentor carefully. Ensure they always answer your questions promptly and correctly. Make sure you feel comfortable with them and have the ability to inspire you too.
Check that you will have access to other people (a network) who also know what they are doing and who you can also bounce ideas off and learn from.
Ensure that there is plenty of training available covering all aspects of the business, preferably available 24 hours a day.
Look for proof of easy start up guides, preferably stepped detailed plans that you can work through at you own pace to ensure your business gets off to the best possible start.
Check to see if you can outsource any of the work you can’t or don’t like doing, after all we are not all salesman that enjoy closing deals!
Find out exactly how much it is going to cost you to buy in. Be aware of your costs at all time and keep them as low as possible. However, a cheap start up might not always be the best option, find out what you’re getting for your money.
Ensure that the compensation plan is clear. Know what you’ll earn and how quickly you’ll get paid – ensure you’re the first and not the last in line!
Read and check out testimonials, the more the better.
To find the ideal home based business you must have ticked all these boxes. Proven business systems are the key, as if they are proven to work, all you have to do is copy them and they’ll work for you too. People are also essential, many of us don’t want to have endless meetings and telephone calls and many of us also hate selling. There are plenty of business opportunities out there where you don’t have to talk to another living soul if you don’t want to, which is fine, as there is e-mail and social network sites now where you can communicate with people without lifting the phone or even leaving your house. But the Internet, where a lot of these opportunities are now based, is changing so fast and it is essential that you keep well informed so you’ll need people around you to help and guide you and in return you’ll be able to do that for others in the future which will be a very enjoyable and satisfying part of your business.So, to “Get the Most From Your Home Based Business” Remember be thorough at the beginning, do your due diligence and never forget that you’re in this for the long term so build solid foundations. You will need to work, be under no illusion, but work smart not hard and the rewards will be fantastic!

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Small Business Valuation and Its Benefits

If you watch the TV show Shark Tank, you often see business owners who lack an understanding about small business valuation. It is estimated that over 80% of small businesses have no financial estimate as to what their business is worth, nor do business owners seem to care. This is like me asking you how much money you have in the bank and you have no idea what I am asking you. You would not run your personal financial life this way; so why would you run your business with no understanding of the value.

So why should small business owners care about valuation? The answer is simple: The personal wealth of every small business owner is directly linked to the valuation of their business. If you expect to be worth a million dollars, then you better have a business that has a valuation of one million dollars. This is important because at some point every small business owner must retire and your retirement is based on the value of your business. Consider the fact that 70% of private companies in the United States will be put up for sale by 2030 and according to the National Federation of Independent Business, only 30% of all businesses that are put up for sale are sold. This is because most small business owners never pay attention to the valuation of their businesses.

Where does valuation come from? Valuation gets assigned based on the benefit stream of your business. The most common benefit stream is Earnings Before Interest Taxes Depreciation and Amortization or EBITDA for short. When you go to sell your company and retire from your business, you will sell your company for a multiple of your EBITDA. The bigger the company, the higher the multiple and the higher the valuation. The key is to get the multiple up which will increase your valuation. This requires an aggressive growth strategy linked to the valuation of your business.

The good news is that financial professionals are now offering cloud based solutions that empower any small business owner with a road-map for increasing value. The bad news is that this road-map can take five years or more to implement. Additionally, most road-maps require a strong professional team to facilitate the process. Having worked with various solutions, I would recommend small business owners consider one of two solutions:

1. Value Opportunity Profile – This is a comprehensive assessment of your business based on interviews with your management team. Specific recommendations are made on how to increase value in three phases.

2. Value Builder System – This is a 12 month program that starts with your own self-assessment, allowing you to decide if you want to embark on the program or not. Exercises are used each month to improve the valuation score of your business.

Regardless of how you get there, it is imperative for every small business owner to recognize how important valuation is to their own personal wealth. Because so few owners seem to grasp valuation and how to increase it, having a professional outside team can help. You need someone to orchestrate and facilitate the process while everyone else runs the day-to-day operations of the business.