| |
| |
|
Small Business Information |
|
|
|
How to Profit Handsomely From a Secret Business Model Virtually No Small Business is Using!
Have you been searching for the perfect home-based business? I have spent nearly twenty-five years searching for the holy-grail of home-based businesses. Now this article is not about a business, but rather a system that Fortune 500 companies always use but it's rarely used by home-based businesses, affiliate or network marketing companies. And based on my experience, you should not even attempt a home-based affiliate or network marketing opportunity unless you use a system that almost guarantees you'll be successful. But before we get into the specifics of the secret business model, let's first talk about what most people do wrong and why 95% of home-based business operators fail within the first few years in business. Here's a Few Reasons Why People Fail * Lack of sufficient capital for promotions and marketing. It takes lots of money and time for your message to capture the attention of your prospective customers. It is a proven fact that most people must see or hear about your product or service at least five to seven times before they'll inquire or purchase. * Not enough time spent on their business. Most people start their home-based business in their spare time and hope it becomes successful so they can do it full-time. The problem with most home-based business operators is two-fold. They don't give their business enough attention on a daily basis and lose potential customers or distributors because they are not responsive enough. And more importantly, they don't give their opportunity enough time for success. It is sad when someone puts hundreds and/or thousands of dollars into a home-based business but they give up when the first their marketing campaign doesn't produce results. * Lack of sales and marketing expertise. Many people start a business from their desire to sell something the love to make. But this fact remains true for home-based business to Fortune 500 companies - You can't sell anything unless you get your marketing message out to enough people. When you put your marketing message out in front of thousands of potential customers then you only need a small percentage to become your customers. * And lastly, most people don't realize the secrets to creating a successful business. It's not how unique your product is or how low your price is compared to your competition. The real secret to making boatloads of money is having REPEAT customers. Unless you have a product or service that people will buy multiple times per year, you probably won't have what it takes to build a successful small business. So if ninety-five percent of home-based business fail, then why do people even start a business if the odds are stacked against them. Well here's why some people have decided to start a home-based business: * To make money from their hobby. * To earn extra money to pay for a vacation. * To explore the option of working on their own. * For the potential to go full-time and have more free time. * Lastly, many want their business to help them become financially free. Now as I mentioned above, you don't have to have highly unique products or even low-priced products to capture your share of the market. What's more important is how you market to generate sales of your products or services. And if you don't have products that are consumable, then you should only treat your business as a hobby, because it most likely won't create the income you need to be considered a success. Here's the Secret Business Model So what is the model almost all Fortune 500 companies use to build their businesses. It's MASS MEDIA MARKETING. This includes television and radio advertising combined with direct mail and follow-up telemarketing campaigns. Now as simple as this may sound, most small businesses can't afford to use a system that combines TV and radio commercials with direct mail and telemarketing. That's why this secret business model is almost exclusively used by Fortune 500 companies. But I am here to tell you that you too can be a savvy business entrepreneur and use mass marketing to your benefit. If you would like to grow your business using parts and pieces of the secret business model, then you could implement one or more of the following: * Purchase leads for your product or service that are generated from radio or television ads. There are many companies that can supply you with potential customers generated from their radio and television ads. * Contract with a telemarketing firm to handle all your incoming and follow-up calls. They have trained experts who can turn inquiries into sales. * You can use a web-site to sell your products but use a direct mail campaign sent to thousands of prospects by directing them to your web site for more information and/or to make a purchase. * Use a direct mail or telemarketing follow-up campaign to generate repeat orders and to sell other products to your buying customers. Now it could cost a small business what seems like a fortune to implement all of the methods mentioned above. But if you really want your small business to become successful, then you can begin to use just some of the techniques that Fortune 500 companies are using. And later you can parlay some of your profits into using the more sophisticated items like follow-up telemarketing or hosting your own radio talk show. So before you spend another dime on doing what everyone else is doing, then ask yourself what you could do differently to make your product stand out from your competitors. You will find that operating a home-based business can certainly be very profitable, but you must use the same business building principles used by Fortune 500 companies. Mark Oestreich is a veteran business analyst. His web site http://www.bizopwiz.com provides more information to help you in your search for the perfect home-based business.
MORE RESOURCES:
Small-Business - Google News |
|
|
|
RELATED ARTICLES
Boat Hull Cleaning Procedures for Owners and Detailers For really tough boat hull cleaning you will need to break out the acid. Muratic acid is the best for this. 5 Steps To Success for Small Business Owners Everyone wants to succeed in life. Most people want to succeed in business. Small Business Grants - Tips from the Pros Every business starts with an idea or a dream. To implement this idea or to turn your dream in to reality you require finance. How To Create A Business Note That Is More Attractive To A Note Investor You are selling your small business (business value under $1 million for this article). You would like the buyer of your business to come in with an all-cash offer, or be able to qualify for an SBA guaranteed loan. Not Listening Can Hurt Your Small Business Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they're talking about. 10 Cardinal Rules for Business Growth After over 30 years of participating in hundreds of businesses, competing in at least as many different industries, with companies marketing both products and services, you begin to develop and accumulate some fundamental businesses axioms or "rules of thumb" that seem to make more sense everyday and gain more value in business practice as your career continues to advance and evolve.You like to think what you have learned and the business knowledge you have retained along your long and varied career path is unique, proprietary, or even "original", but somewhere deep inside you know that most of the things you hold near and dear to your own business self identity probably were already developed, practiced, and taught way before you ever entered your first business conference room. Public Relations: Antidote for Small Business Failure When small businesses fail, the wreckage is often assigned to undercapitalization, among other mistakes. Seldom is failure attributed to a lack of effective communications that might have modified the behavior of sales prospects in a positive way, thus averting bankruptcy. Look Out for that Great Accountant There are many factors to be considered when you are trying to select the accountant who is right for you. In other words how to find that good one. Canon City, Colorado - Good for Small Business Canon City, Colorado is known for it's 6 Prisons; State and Federal, women's prison and juvenile. It is also home to the First Colorado Territorial Prison. Due Dilegence 101 Or What You Do Not Know Can Kill You! - Part 1 Introduction: This article is written as a general discussion on the subject of "Due Diligence". It is for informational purposes and not intended to be a definitive guideline for your exact situation. The Franchisors Heavy Load Why are we over regulation the franchising industry, what purpose does it serve? Rules and laws are fine, level playing fields are nice, but the customer votes with their dollar and the entrepreneur and companies can only sell what people are willing to give up that unit of trade we call a dollar for.The FTC, Federal Trade Commission is going to pile on more regulation and minutia to the rules of franchising, but what purpose does it serve? The free market should decide and the right to free contract will determine which businesses succeed and which fail. Motorizing for Profit - The Craftsmen Have Left the Building In the summer, I can't drive two blocks without seeing the activity of the construction industry. Road contractors, house builders and landscapers are everywhere. Build Your Small Business by Building Relationships -- The One Pager Shortcut Series --People do business with people that they know and trust. As a solo entrepreneur, your goals will be to make yourself known to your target market and then elevate the relationship to the trust level. Eight Ways To Improve Your Companys Cash-Flow - TODAY! Cash is the lifeblood of any business. As humans need air to breath and food to eat, your business requires customers that provides the primary substance that keeps a business in business: cash. Naming Your Business: 3 Tips To Ensure Success If you are just starting your business, or if you have just developed a new product or service for an existing business, one of the first questions you need to answer is, "What should I name it?" And while you may feel pressure to make this decision quickly, I caution you to not make it lightly. What kind of things should you take into consideration when choosing a name?(1) Don't Use Your Own NameWell, first of all, use a name other than your own name. Are You Using a Chess or Checkers Small Business Marketing Strategy? Until the day I learned to play chess I loved playing checkers. Both games require a strategy that maximizes a player's ability to capture her opponents pieces without first losing her own. Leveraging Business Relationships for more Profits When should you leverage the relationship?Leveraging sometimes brings a negative connotation to the mix. It does not have to be that way. Attributes Of Companies You Don't Want To Buy! There are no "rules of thumb" in the pursuit of companies to buy. Each purchase opportunity has to stand on its own merits. Small Business Marketing - Clarify Success When you hear the word "success" does it bring on visions of fame and fortune for your business? Have you clarified and articulated what that success will look like for your business and how you'll know when you've achieved it?What's the definition of success for your business? Most small businesses are selling their time and expertise to deliver a service to their clients. So the question I want you to reflect upon is this? "What does success look like?"Now before you start answering with responses like, "I'll do $X Million in sales this year. Joint Venture Your Way to Extraordinary Sales! You know what makes me really happy? Drinking a Starbucks latte while doing my grocery shopping at Safeway. Getting my Godiva fix at Barnes & Noble.
|
| home | site map |
| © 2006 |
