| |
| |
|
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
Going Public: The Process for Small and Mid-size Companies to Go Public It's the dream of every person who starts a business to some day see it trading in one of the stock exchanges even after they are no longer associated with the company. The first step (#1) is simple since most small company are already incorporated and have a board of directors, so we will start with #2. You Dont Yet Know What You Dont Know Someone new to business ownership recently told me, "Before I opened my business, I thought I was pretty well prepared. I knew how to produce and deliver our product. Franchise Territories are Generally Delineated On a Map; Why? If you own a mobile service or home based franchise your exclusive territory will be delineated on a map in the attachment of your franchise agreement. You will be assigned generally a single city, county or region and another franchisee or team member of the same system will not compete with your although may be right around the corner. The Perilous Franchise Agreement: What Did You Sign? Purchasing a franchise has become one of the most popular avenues for individuals looking to escape the rigid work day of a 9 to 5 job and take the leap into the world of independent business owner. After all, who doesn't dream of being their own boss and controlling the limits of their own financial future? For anyone looking to act on their entrepreneurial spirit, franchising can indeed offer many attractive qualities that can provide excellent growth and earning potential, as well as satisfy that longing for independence. How to Sponsor an Event for Fun and PROFIT How do you sponsor an event and get personal introductions at the same time?So how can sponsoring help you to be visible to the business community and gain the right contacts? It is actually quite simple, you need to find events that are visible to the audience you are interested in.Find out: Whom you wish to do business with Which sports they like What community events they like Where the upper management families live and their community involvementThe events that they watch are the ones that you should sponsor. Postcard Marketing - Low Cost Visibility You need to be visible to attract customers, right? But how do you get that visibility when you're short on cash? Here's an idea that's worked for many businesses. It's postcard marketing, and it's very affordable. Looking into the Future for Profits How to identify future solutions and opportunities?Your power page, if used extensively, will help you to identify areas where the client may need more help or may need to purchase additional products. When you read through your notes, you will be able to pinpoint areas that will be a business pain. Business Reviews that Work What is the satisfaction & expectation review of the business history to date?You have spent a lot of time and effort gathering information about your clients and potential customers. You have kept track of everything that you need to know and have followed-up with precision. Tell Me The Reasons Why I Should Believe You? Have you ever heard the phrase, 'PREPONDERANCE OF PROOF'?I recently heard it to describe a situation where a person was backed up against a wall (legally speaking) and needed a way out of the mess.The legal guy came in and said, 'I feel we may win this case'. The Joy and Hazards Of Finding Your First Office Q: I have outgrown my home office and need to find office space for me and two part time employees. I am really excited about opening my first official office, but never having rented commercial space before I don't know anything about how this process works. Mobile Car Washes and Shoe Policies Mobile carwashing is hard work, it is tough on the your body and it pays to have athletic type shoes that do not get wet easily. Sometimes rapid pace car washing in parking lots can be a lot like playing basketball, except you are on a slippery and uneven surface. Self-Employment: Managing Your Money: Tips for Living with a Fluctuating Cash Flow (Part One) The way you manage your money is one of the first things you'll change when you move from employment to self-employment.You are moving from an environment where you received income in equal amounts at set intervals to one where your income fluctuates. Modern Clear Coats, Auto Detailers and visit to Lexus of North America We visited Lexus USA, home of the Lexus North America Head Quarters to help us better understand the latest innovations in automotive clear coast. As professional auto detailers we must know our customers cars and finishes. How to Find A Group that Needs Speakers How do you find groups that are in need of speakers (at no charge)?Finding groups that use speakers is not difficult. I find that most organized service groups use speakers for their regular meetings. Hard Money Lenders -- No Money Down The Easy Way Would it help you as a real estate investor to be able to "Close For Cash in Days," even if you're tapped out financially?Hard money lenders are perhaps the best way to get 100% financing with easy qualifying, money for fix- up, and fast closings.So what can hard money lenders do for you? Hard money lenders make relatively short term (12-24 month) loans to real estate investors for the purposes of acquiring the property and rehabbing the property. Accounting Methods - Cash and Accrual When starting a business, you have to determine the method you are going to use for accounting and paying taxes. The two choices are the cash method and the accrual method. A Lesson From "The Apprentice" That Can Make You A Master I have to admit, I was curious. When I saw previews of a new show called "The Apprentice," it made me want to at least watch the premiere to see what was going on. Employee Monitoring - Business Risks For Employers And How To Avoid Them E-mail and Internet use are integral parts of the typical worker's daily routine. Because of its speed and overall convenience, e-mail has replaced the interoffice memorandum as the preferred method of communication. Work is a Four Letter Word I love work, I can watch it all day.I am not scared of work, I have been known to approach within arm's length of it on a number of occasions. Franchising in The Middle East There Will Bring Significant Opportunity for US Based Franchisors As stability emerges in the Middle East there will be significant opportunity for the Franchising Community. Arab Franchising appears to be of interest for those seeking economic growth in much of that region of the World.
|
|
|
|
|
