For sellers who constantly have to put up with bid snipers, non-paying bidders and other anti-social, timewasting buyers, eBay’s ‘pre-approved buyer’ feature is a godsend.
Pre-approving buyers lets you choose in advance who you’re going to allow to bid: not by banning people you don’t want, but by explicitly allowing people you do want. Anyone who is not on the pre-approved list will have to email you and ask you to let them bid.
While that might sound great, it’s only really a good idea to do it on very, very high value items. After all, half the point of eBay is that it’s such an open marketplace – if you’re going to restrict bidding to a few people, why not just email them to offer the item?
Most buyers will be very upset if they come across an item that they need to be pre-approved to bid in. They almost certainly won’t have heard of the rule before, and they’ll think this ‘new feature’ (it must be new if they’ve never heard of it, right?) is absolutely terrible. The one time I required pre-approval for an item, someone actually wrote to eBay to complain about the auction’s format – as if eBay had nothing to do with letting me list that way! The chances are that almost no-one will ever email you asking to be included in the auction – they’ll go somewhere else instead.
Of course, it’d be better if you could just require that bidders have a minimum feedback level, but then that might overly restrict the choices of new buyers, and make them less likely to buy anything to begin with. There’s a delicate balance at play between trust and openness, and pre-approval tends to violate it. If one of your regular buyers wants to bid on your item only to find out they weren’t pre-approved, the chances are they’ll be more than a little offended at your lack of trust.
The only situations in which you might find an advantage in pre-approving bidders are if your auctions get consistently disrupted. Jokers sometimes bid millions because they think it’s funny, or people bid high and then don’t pay as a protest against whatever you’re selling – this is a pain to deal with. Requiring approval makes sense on very high-ticket items simply because it shows the buyer is serious about wanting to buy.
Before you can restrict an item to pre-approved buyers, you have to list it and get an item number. You can then set up pre-approved bidding on this page: http://offer.ebay.com/ws/eBayISAPI.dll?PreApproveBidders. From there on, it’s a simple process – just type the usernames of the people whose bids you want to accept, and then keep checking your email.
Remember, though, that you don’t need to restrict your auction to pre-approved bidders to keep people you don’t like from bidding on your auctions. You can simply cancel these buyers’ bids when they appear, and then use eBay’s ‘block bidder’ function to ban them from bidding on any of your auctions again. Edit your block list here: http://offer.ebay.com/ws/eBayISAPI.dll?bidderblocklogin.
In the next email, we’ll take a look at whether your eBay design is as effective as it could be.
Friday, March 30, 2007
list online business
ttp://www.doteasy.com
Free, bannerless web hosting...'nuff said. The only complaint I have is that reliability is not up to par with the paid hosts, but then again, what do you expect -- IT'S FREE! While I wouldn't use it to host my main site, it's great for testing mini sites and new products.
http://www.linkcounter.com
LinkCounter is a free service that tracks clicks on any link you want to track, from inside, outside, or within your site itself. It's a great way to track affiliate programs and link exchanges, or to create referring links for sites you trade traffic with. They provide you with an unbiased report that you can use to keep track of your outgoing and incoming hits.
http://www.securitymetrics.com
Worried about your own site's security? Afraid you might be vulnerable to hackers? Don't wonder -- find out! Security Metrics will give your computer a "FREE Port Scan" where it will test for the 20 most common TCP/IP ports that are often vulnerable. If you're like me, the results will surprise you.
http://www.score.org
S.C.O.R.E stands for the Service Corps of Retired Executives, and they pride themselves on being the Counselors to Americas Small Business. In effect, S.C.O.R.E. is a non-profit group that offers FREE counseling to anyone who has, or is thinking about starting, a small business. I've utilized their trained counselors on numerous occasions, and have been grateful every time.
http://www.spyonit.com
Spyonit has dozens of FREE spy tools that allow you to keep tabs on all the sites and auctions that matter most to you. (Including your competition's.) There's too much there to describe it all, so go to the site now to check it out. They're also adding new "spies" fairly frequently, so check back often. Who knows what they'll come up with next?
http://www.tracerlock.com
TracerLock is another "spy" type tool that monitors search engines, UseNet groups, and personal ads for whatever word or phrase you tell it to. It's great for keeping tabs on the competition, and seeing what others are saying about you or your business. They have both a FREE and a paid service, so check it out.
http://www.scumware.com
If you've been keeping up with software or e-biz news, then you've no doubt heard of the controversy surrounding traffic stealing software such as Top Text and Surf+. This site is dedicated to eradicating the world of such thieves. It will tell you if your computer is currently "infected", and give you some lines of code that will disable the traffic thieves when they "invade" your site.
http://www.trafficology.com
This is easily my new favorite newsletter. Trafficology's creator, Wayne Yeager, gives away literally THOUSANDS of dollars each month for new and creative traffic generating ideas. He then turns around and gives these ideas to his subscribers for FREE. I've been receiving the newsletter for a few months now, and I have yet to be disappointed. While some of the ideas are WAY too crazy for me to EVER try, the newsletter is *always* entertaining, and often useful.
http://www.onebox.com
Onebox is an incredibly low-cost service (I believe I pay around $10 a month for it) that provides you with an email address, a fax number, and voice mailbox -- all in one place! If you're just starting out and you need a phone service, but don't want to pay hefty charges to your local phone company, this could be an ideal solution.
Free, bannerless web hosting...'nuff said. The only complaint I have is that reliability is not up to par with the paid hosts, but then again, what do you expect -- IT'S FREE! While I wouldn't use it to host my main site, it's great for testing mini sites and new products.
http://www.linkcounter.com
LinkCounter is a free service that tracks clicks on any link you want to track, from inside, outside, or within your site itself. It's a great way to track affiliate programs and link exchanges, or to create referring links for sites you trade traffic with. They provide you with an unbiased report that you can use to keep track of your outgoing and incoming hits.
http://www.securitymetrics.com
Worried about your own site's security? Afraid you might be vulnerable to hackers? Don't wonder -- find out! Security Metrics will give your computer a "FREE Port Scan" where it will test for the 20 most common TCP/IP ports that are often vulnerable. If you're like me, the results will surprise you.
http://www.score.org
S.C.O.R.E stands for the Service Corps of Retired Executives, and they pride themselves on being the Counselors to Americas Small Business. In effect, S.C.O.R.E. is a non-profit group that offers FREE counseling to anyone who has, or is thinking about starting, a small business. I've utilized their trained counselors on numerous occasions, and have been grateful every time.
http://www.spyonit.com
Spyonit has dozens of FREE spy tools that allow you to keep tabs on all the sites and auctions that matter most to you. (Including your competition's.) There's too much there to describe it all, so go to the site now to check it out. They're also adding new "spies" fairly frequently, so check back often. Who knows what they'll come up with next?
http://www.tracerlock.com
TracerLock is another "spy" type tool that monitors search engines, UseNet groups, and personal ads for whatever word or phrase you tell it to. It's great for keeping tabs on the competition, and seeing what others are saying about you or your business. They have both a FREE and a paid service, so check it out.
http://www.scumware.com
If you've been keeping up with software or e-biz news, then you've no doubt heard of the controversy surrounding traffic stealing software such as Top Text and Surf+. This site is dedicated to eradicating the world of such thieves. It will tell you if your computer is currently "infected", and give you some lines of code that will disable the traffic thieves when they "invade" your site.
http://www.trafficology.com
This is easily my new favorite newsletter. Trafficology's creator, Wayne Yeager, gives away literally THOUSANDS of dollars each month for new and creative traffic generating ideas. He then turns around and gives these ideas to his subscribers for FREE. I've been receiving the newsletter for a few months now, and I have yet to be disappointed. While some of the ideas are WAY too crazy for me to EVER try, the newsletter is *always* entertaining, and often useful.
http://www.onebox.com
Onebox is an incredibly low-cost service (I believe I pay around $10 a month for it) that provides you with an email address, a fax number, and voice mailbox -- all in one place! If you're just starting out and you need a phone service, but don't want to pay hefty charges to your local phone company, this could be an ideal solution.
list online business
ttp://www.doteasy.com
Free, bannerless web hosting...'nuff said. The only complaint I have is that reliability is not up to par with the paid hosts, but then again, what do you expect -- IT'S FREE! While I wouldn't use it to host my main site, it's great for testing mini sites and new products.
http://www.linkcounter.com
LinkCounter is a free service that tracks clicks on any link you want to track, from inside, outside, or within your site itself. It's a great way to track affiliate programs and link exchanges, or to create referring links for sites you trade traffic with. They provide you with an unbiased report that you can use to keep track of your outgoing and incoming hits.
http://www.securitymetrics.com
Worried about your own site's security? Afraid you might be vulnerable to hackers? Don't wonder -- find out! Security Metrics will give your computer a "FREE Port Scan" where it will test for the 20 most common TCP/IP ports that are often vulnerable. If you're like me, the results will surprise you.
http://www.score.org
S.C.O.R.E stands for the Service Corps of Retired Executives, and they pride themselves on being the Counselors to Americas Small Business. In effect, S.C.O.R.E. is a non-profit group that offers FREE counseling to anyone who has, or is thinking about starting, a small business. I've utilized their trained counselors on numerous occasions, and have been grateful every time.
http://www.spyonit.com
Spyonit has dozens of FREE spy tools that allow you to keep tabs on all the sites and auctions that matter most to you. (Including your competition's.) There's too much there to describe it all, so go to the site now to check it out. They're also adding new "spies" fairly frequently, so check back often. Who knows what they'll come up with next?
http://www.tracerlock.com
TracerLock is another "spy" type tool that monitors search engines, UseNet groups, and personal ads for whatever word or phrase you tell it to. It's great for keeping tabs on the competition, and seeing what others are saying about you or your business. They have both a FREE and a paid service, so check it out.
http://www.scumware.com
If you've been keeping up with software or e-biz news, then you've no doubt heard of the controversy surrounding traffic stealing software such as Top Text and Surf+. This site is dedicated to eradicating the world of such thieves. It will tell you if your computer is currently "infected", and give you some lines of code that will disable the traffic thieves when they "invade" your site.
http://www.trafficology.com
This is easily my new favorite newsletter. Trafficology's creator, Wayne Yeager, gives away literally THOUSANDS of dollars each month for new and creative traffic generating ideas. He then turns around and gives these ideas to his subscribers for FREE. I've been receiving the newsletter for a few months now, and I have yet to be disappointed. While some of the ideas are WAY too crazy for me to EVER try, the newsletter is *always* entertaining, and often useful.
http://www.onebox.com
Onebox is an incredibly low-cost service (I believe I pay around $10 a month for it) that provides you with an email address, a fax number, and voice mailbox -- all in one place! If you're just starting out and you need a phone service, but don't want to pay hefty charges to your local phone company, this could be an ideal solution.
Free, bannerless web hosting...'nuff said. The only complaint I have is that reliability is not up to par with the paid hosts, but then again, what do you expect -- IT'S FREE! While I wouldn't use it to host my main site, it's great for testing mini sites and new products.
http://www.linkcounter.com
LinkCounter is a free service that tracks clicks on any link you want to track, from inside, outside, or within your site itself. It's a great way to track affiliate programs and link exchanges, or to create referring links for sites you trade traffic with. They provide you with an unbiased report that you can use to keep track of your outgoing and incoming hits.
http://www.securitymetrics.com
Worried about your own site's security? Afraid you might be vulnerable to hackers? Don't wonder -- find out! Security Metrics will give your computer a "FREE Port Scan" where it will test for the 20 most common TCP/IP ports that are often vulnerable. If you're like me, the results will surprise you.
http://www.score.org
S.C.O.R.E stands for the Service Corps of Retired Executives, and they pride themselves on being the Counselors to Americas Small Business. In effect, S.C.O.R.E. is a non-profit group that offers FREE counseling to anyone who has, or is thinking about starting, a small business. I've utilized their trained counselors on numerous occasions, and have been grateful every time.
http://www.spyonit.com
Spyonit has dozens of FREE spy tools that allow you to keep tabs on all the sites and auctions that matter most to you. (Including your competition's.) There's too much there to describe it all, so go to the site now to check it out. They're also adding new "spies" fairly frequently, so check back often. Who knows what they'll come up with next?
http://www.tracerlock.com
TracerLock is another "spy" type tool that monitors search engines, UseNet groups, and personal ads for whatever word or phrase you tell it to. It's great for keeping tabs on the competition, and seeing what others are saying about you or your business. They have both a FREE and a paid service, so check it out.
http://www.scumware.com
If you've been keeping up with software or e-biz news, then you've no doubt heard of the controversy surrounding traffic stealing software such as Top Text and Surf+. This site is dedicated to eradicating the world of such thieves. It will tell you if your computer is currently "infected", and give you some lines of code that will disable the traffic thieves when they "invade" your site.
http://www.trafficology.com
This is easily my new favorite newsletter. Trafficology's creator, Wayne Yeager, gives away literally THOUSANDS of dollars each month for new and creative traffic generating ideas. He then turns around and gives these ideas to his subscribers for FREE. I've been receiving the newsletter for a few months now, and I have yet to be disappointed. While some of the ideas are WAY too crazy for me to EVER try, the newsletter is *always* entertaining, and often useful.
http://www.onebox.com
Onebox is an incredibly low-cost service (I believe I pay around $10 a month for it) that provides you with an email address, a fax number, and voice mailbox -- all in one place! If you're just starting out and you need a phone service, but don't want to pay hefty charges to your local phone company, this could be an ideal solution.
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saya akan beritahu rahasianya...
saya akan beritahu rahasianya...
Wednesday, March 28, 2007
Plan for Success
Planning is mandatory for business success. Fail to plan and you plan to fail.
Planning is difficult because there is no immediate feedback as to its value. But if you think of starting and operating your business in the same way you might think about climbing a mountain, the purpose and advantages of planning become clearer.
When you start up the mountain you never know what to expect: sudden change in weather, lost or broken equipment, mistakes in maps, an injury. Planning for these eventualities will allow you to deal with them and still reach your objective in spite of temporary setbacks. On the other hand, lack of planning can spell disaster. The more careful the planning, the more likely problems will be anticipated and not allowed to interfere with your ultimate business objective.
The Business PlanCountless books have been written on how to write an "effective" business plan. The traditional business plan is a very well defined and structured document. It is written as a presentation to lenders, potential investors, and bankers in order to raise capital. As such, it is sort of an advertising document and, well, maybe tends to exaggerate a little.
Although many will argue the business plan is a planning document, it frequently is not because of these exaggerations. After a while YOU will start to believe the business plan ... even if you know that what is contained within the document is absurd in places. (Yes sir, there is no doubt about it, sales will easily double each year ... as long as we can obtain adequate financing.)
If your business is going to require investor capital at the onset, you will need that traditional business plan. But BEFORE you even get to this point, or if you are like so many of us and are starting a small business venture where little or no formal investment is needed, you need another plan ... A plan for YOURSELF ... A HONEST plan for you. You need a strategic plan.
The Strategic PlanA strategic plan is your plan for success. It will define your business mission, your present situation, and where you want to be in three to five years. A strategic plan, like the traditional business plan, should be well-structured, and include a number of short succinct statements covering the following areas:
Vision Statement
Mission/Purpose Statement
Scope of Business
Assumptions
Goals and Objectives
Risks
Strategies
Progress Reporting Methods
Planning is difficult because there is no immediate feedback as to its value. But if you think of starting and operating your business in the same way you might think about climbing a mountain, the purpose and advantages of planning become clearer.
When you start up the mountain you never know what to expect: sudden change in weather, lost or broken equipment, mistakes in maps, an injury. Planning for these eventualities will allow you to deal with them and still reach your objective in spite of temporary setbacks. On the other hand, lack of planning can spell disaster. The more careful the planning, the more likely problems will be anticipated and not allowed to interfere with your ultimate business objective.
The Business PlanCountless books have been written on how to write an "effective" business plan. The traditional business plan is a very well defined and structured document. It is written as a presentation to lenders, potential investors, and bankers in order to raise capital. As such, it is sort of an advertising document and, well, maybe tends to exaggerate a little.
Although many will argue the business plan is a planning document, it frequently is not because of these exaggerations. After a while YOU will start to believe the business plan ... even if you know that what is contained within the document is absurd in places. (Yes sir, there is no doubt about it, sales will easily double each year ... as long as we can obtain adequate financing.)
If your business is going to require investor capital at the onset, you will need that traditional business plan. But BEFORE you even get to this point, or if you are like so many of us and are starting a small business venture where little or no formal investment is needed, you need another plan ... A plan for YOURSELF ... A HONEST plan for you. You need a strategic plan.
The Strategic PlanA strategic plan is your plan for success. It will define your business mission, your present situation, and where you want to be in three to five years. A strategic plan, like the traditional business plan, should be well-structured, and include a number of short succinct statements covering the following areas:
Vision Statement
Mission/Purpose Statement
Scope of Business
Assumptions
Goals and Objectives
Risks
Strategies
Progress Reporting Methods
How to Find a Product to Market
Any product you bring to market is going to be the direction of your life force for the next four or five years - maybe longer. So the first rule of thumb in the selection of a product is to make sure you love the product, the industry it serves, the prospects, and the purchasers - because you’re going to be immersed in their bathwater for quite a while. Better make sure you like the scent.
If you have no product in particular you’re thinking about bringing to market, how do you select one? Well… do you have a hobby? Do you have a passion? For example, do you love computers? How about plastics? Are you interested in metals? Or in manufacturing? Can you sit and talk about antiques endlessly with your friends? Does the conversation always turn to airplanes? Or to food? All of these passions are great pursuits that become industries you can get involved in. The industries become markets to sell your products.
Or… do you have an industry that you’re familiar with? Have you been on the distribution end of a particular field? Are you in retail (ouch, those long retail hours!) Are you familiar with direct mail? Do you enjoy catalogs?
What are you good at? Are you a good writer? A great chef? Do you enjoy working with your hands? Are you creative? Are you good at design? Are you good at art? Are you skillful at creating mechanical objects? Are you a great negotiator? Are you detail oriented? Do you have a special gift in any one area? These are all considerations in product selection.
Once you figure out some product ideas and the industry you’d like to be involved in, ask yourself if, somewhere down the road, there are other products you can market to the same audience. Keep in mind that some products can’t be marketed profitably by themselves. You may need to have additional depth in your product line and companion sales to make a profit. For example, if you sell a book, can you sell your purchasers additional books by the same author or by other authors in the same field? A person who buys one book on computer programming is likely to purchase a second on the same topic.
Throw the above mix into a hat, swish it around with a few beers, and these are your considerations for product selection. Stay with product fields in which you have a great interest. If you decide that you can stick it out, selling the same products to the same group without getting bored or tired of it, here’s where to find the products.
The U.S. Patent Office holds a wealth of stimulating ideas for products in every field. There are 81 patent depositories, located in libraries around the United States, where you can look up patents to find hundreds of thousands of both great and poor ideas in any particular field. Since patents are only good for 17 years, any patent issued before 1980 is fair game for you to duplicate, improve, or borrow from. Take a look at the product; if you can improve it - all the better! Voilà - your product concept is ready to go.
If you see a product with a patent issued after 1980, call the patent holder and ask if you can license the patent. Don’t offer - or pay - any money up front, and only offer a very small percentage - 2% to 5% of any net income - “if and when” your marketing of the product is successful. Most patent holders never market their inventions and will be happy to grant you permission to sell their products. Most inventors are just that - inventors; they invent a product, then move on to the next invention. Most aren’t marketers, which is a profession far removed from inventing.
By the way, one of the most fun government publications to read is the Patent Gazette. It’s the weekly publication of the Patent Office, and it shows all the patents issued for that particular week - usually 1,500 to 2,000. The booklet shows a line drawing of the invention and a one-paragraph description of the device. A single copy costs $50, but you can find it at the patent depositories.
No luck at the Patent Office? Go to the library and ask to see their copy of the Thomas Register of American Companies. This set of reference books weighs in at an incredible 270 pounds and contains products and their manufacturers in EVERY field. There are about 30 books in the Thomas Register set, each containing well over 1,000 pages. Just imagine all those manufacturers and distributors, all referenced in this one huge directory for only one reason: just to increase their sales. Can you find products and manufacturers to help you? Heck, yes. And in great depth.
So look up the industries you’re interested in, and get a look at all of the manufacturers and the multitude of products in each. Call any of them and see if they have any inventory - or tooling - of products they’ve tried to market and haven’t been successful with. Remember, most manufacturers are good at… well, manufacturing. They may be horrible at marketing, and as a result, they may have had little success in launching new products. These may be great products. Of course, they may be terrible products, too. But you never know until you ask and explore.
One thing is for sure - if you're an OK negotiator, the price will be right. Products sitting in their basements for a couple of years have little value to manufacturers - and have already cost them time, and still cost them space. They may just want to get rid of them. They may take 5¢ on the dollar. Plastics houses, like injection molders, are a good source of overstock and unsold inventory. Toy manufacturers, too!
If a manufacturer already offers a product you’d like to market, the price goes up. Naturally, as a “special marketing licensee” of their products, you’ll want their best pricing structure. But if you have to go through their set of distributors and retailers, there won’t be enough profit for your nontraditional marketing efforts. You may ask to license their products only for select industries, or through special avenues where they have no presence, such as only marketing through the mail or through TV ads. Make an offer.
If you have no product in particular you’re thinking about bringing to market, how do you select one? Well… do you have a hobby? Do you have a passion? For example, do you love computers? How about plastics? Are you interested in metals? Or in manufacturing? Can you sit and talk about antiques endlessly with your friends? Does the conversation always turn to airplanes? Or to food? All of these passions are great pursuits that become industries you can get involved in. The industries become markets to sell your products.
Or… do you have an industry that you’re familiar with? Have you been on the distribution end of a particular field? Are you in retail (ouch, those long retail hours!) Are you familiar with direct mail? Do you enjoy catalogs?
What are you good at? Are you a good writer? A great chef? Do you enjoy working with your hands? Are you creative? Are you good at design? Are you good at art? Are you skillful at creating mechanical objects? Are you a great negotiator? Are you detail oriented? Do you have a special gift in any one area? These are all considerations in product selection.
Once you figure out some product ideas and the industry you’d like to be involved in, ask yourself if, somewhere down the road, there are other products you can market to the same audience. Keep in mind that some products can’t be marketed profitably by themselves. You may need to have additional depth in your product line and companion sales to make a profit. For example, if you sell a book, can you sell your purchasers additional books by the same author or by other authors in the same field? A person who buys one book on computer programming is likely to purchase a second on the same topic.
Throw the above mix into a hat, swish it around with a few beers, and these are your considerations for product selection. Stay with product fields in which you have a great interest. If you decide that you can stick it out, selling the same products to the same group without getting bored or tired of it, here’s where to find the products.
The U.S. Patent Office holds a wealth of stimulating ideas for products in every field. There are 81 patent depositories, located in libraries around the United States, where you can look up patents to find hundreds of thousands of both great and poor ideas in any particular field. Since patents are only good for 17 years, any patent issued before 1980 is fair game for you to duplicate, improve, or borrow from. Take a look at the product; if you can improve it - all the better! Voilà - your product concept is ready to go.
If you see a product with a patent issued after 1980, call the patent holder and ask if you can license the patent. Don’t offer - or pay - any money up front, and only offer a very small percentage - 2% to 5% of any net income - “if and when” your marketing of the product is successful. Most patent holders never market their inventions and will be happy to grant you permission to sell their products. Most inventors are just that - inventors; they invent a product, then move on to the next invention. Most aren’t marketers, which is a profession far removed from inventing.
By the way, one of the most fun government publications to read is the Patent Gazette. It’s the weekly publication of the Patent Office, and it shows all the patents issued for that particular week - usually 1,500 to 2,000. The booklet shows a line drawing of the invention and a one-paragraph description of the device. A single copy costs $50, but you can find it at the patent depositories.
No luck at the Patent Office? Go to the library and ask to see their copy of the Thomas Register of American Companies. This set of reference books weighs in at an incredible 270 pounds and contains products and their manufacturers in EVERY field. There are about 30 books in the Thomas Register set, each containing well over 1,000 pages. Just imagine all those manufacturers and distributors, all referenced in this one huge directory for only one reason: just to increase their sales. Can you find products and manufacturers to help you? Heck, yes. And in great depth.
So look up the industries you’re interested in, and get a look at all of the manufacturers and the multitude of products in each. Call any of them and see if they have any inventory - or tooling - of products they’ve tried to market and haven’t been successful with. Remember, most manufacturers are good at… well, manufacturing. They may be horrible at marketing, and as a result, they may have had little success in launching new products. These may be great products. Of course, they may be terrible products, too. But you never know until you ask and explore.
One thing is for sure - if you're an OK negotiator, the price will be right. Products sitting in their basements for a couple of years have little value to manufacturers - and have already cost them time, and still cost them space. They may just want to get rid of them. They may take 5¢ on the dollar. Plastics houses, like injection molders, are a good source of overstock and unsold inventory. Toy manufacturers, too!
If a manufacturer already offers a product you’d like to market, the price goes up. Naturally, as a “special marketing licensee” of their products, you’ll want their best pricing structure. But if you have to go through their set of distributors and retailers, there won’t be enough profit for your nontraditional marketing efforts. You may ask to license their products only for select industries, or through special avenues where they have no presence, such as only marketing through the mail or through TV ads. Make an offer.
How to Research your Business Ideas
If you read parts one and two of "Choosing the Right Small Business", and if you completed the exercises, you will have a good idea of what you are good at doing, and you will have several related business ideas or possibilities. Next, you will want to add your personal skills, abilities and experience into the mix. So, add to your lists your related experiences--work experience, volunteer experience, school experience, hobby experience and so on. Your resume might come in handy here. Look at the industries you have worked for or been involved with. And, look at the professional skills you have learned—making customers happy, completing projects on deadline, budgeting, --whatever you have done that you think would be helpful in your business. For example, if you are a charming person who loves music and travel, and you also have 3 years experience in retail, you might look at opening your own music store, selling to retail outlets, publishing a newsletter to help music stores increase their sales, and so on. Again, the ideas are unlimited until you compare them to who you are. If you have experience in retail but hate it, then opening your own store should not make your list! So, take your business ideas list and circle the ones you have some experience in and some qualities which will be helpful in running those businesses. Circle the top 5 ideas from your list –the ones you are most excited by. Then, call or visit some of those types of businesses. Check out the environment. Make notes of what you like and dislike. Do you think they are profitable? If you can talk with some of the people who work there, ask them what they like about their jobs, what they dislike, how long they have been there, and so on. If you can meet or talk with the owner, ask for some information. Tell them you are doing research (which is true!) and would like to have a few minutes of their time to ask some questions. Possible questions include the positive and negative aspects of their business, how did they get started, what is their biggest expense, what are their growth plans, how do they "keep up" with industry trends, and so on. Or, apply for a part-time job there (or full-time if that would work for you). The best way to learn any business is by actually being there, doing the work, seeing the whole operation. A paid apprenticeship is a time-honored way to learn a profession, and it can help pay bills or save for your business in the meantime. In talking with people who want to go into business for themselves, I often find they like the idea but don’t know the real gist of their chosen business. For example, it seems like everybody wants to start their own restaurant. It appears glamorous and fun and heck, anybody can cook. Having worked for several years in restaurants, I can attest to the fact that it is very hard work with extremely long hours. It’s messy. There is always cleaning that needs to be done. Customers can and will be rude and obnoxious (and also fun and generous). Profit margins are low. Costs have to be tightly controlled—food costs, labor costs, and supply costs. A bad location can kill you. Employees will steal from you, fail to show up for work, quit without notice, and you need them because they are key to your success. You have to market it constantly and be smart about it. You have to predict sales so you can make schedules and order the right amount of food. You need quite a bit of expensive equipment (coolers, freezers, grills, computers, dishwashers, and etc.). That equipment will break during your busiest time. You won’t know how to fix it. The glamorous part—you might meet some celebrities, you will meet some great people, you will (hopefully) be complimented on your great food and/or service, you can have fun, and you probably won’t go hungry! So, be sure to check out the "unglamorous" side of whatever business you are interested in. A job in the industry is one of the best ways to learn this before you sink your money into something and discover that you really don’t like it, after all. You can also continue your research online. Many industries have associations which have good articles and links to good information sites. Also search for related forums where you can read posts and ask questions of others who are working in the industry. After this exercise, you should have narrowed the ideas list considerably. You might have even crossed off all of your top 5! Don’t despair—you have learned valuable information without spending your savings! Go back to your list and using what you now know, choose another five. You can repeat these exercises until you have enough information to make a valid decision about what kind of business you want to start. You might find out that there is a gaping hole in the industry just waiting for you to step in and open your business which fills that hole. You will have much better odds of succeeding because you have chosen a business that is based around who you are and how you want to spend your work-time, which is a huge part of your life-time.
21 Home Business Ideas
If you are thinking about starting your own home-based business, the available options can be almost dizzying. However, there are many tried and true home-based businesses that may be just what you are looking for. Below are the top 21 home business ideas, in no particular order.
1. Personal trainer. If you are fitness-minded, you can start your own career as a personal trainer.
2. Yoga instructor. Begin sharing your expertise with others by teaching yoga classes. There are a number of online resources, depending on the school of yoga that you practice. The Yoga Alliance Web site provides information on yoga schools, certification, insurance, and so on.
3. Tutoring. You can start a business tutoring students by advertising at schools, the local YMCA, and other places frequented by families. If you have children, talk to their teachers and determine the needs of your school district.
4. Business coaching. Have experience with management or some other specialized business skill? Share it with others by becoming a business coach. The International Coach Federation provides certification and a coach referral service for its members.
5. Making and selling candles and crafts is a great way to involve your children in your work. If you are handy at making attractive crafts, you can have your children help you create them and you can easily market these items from your home.
6. Catering can be a good fit for busy parents who love to cook and entertain. Most of the work can be done in your home while looking after your children, with only a minimum of time spent out of the house.
7. Medical claims billing. This industry is one of the most popular work-from-home businesses — so much so that suspect companies have been popping up on the Internet and in classified advertisements. ELearners.com can help you locate transcription training courses online.
8. Accounting. There are many franchises and opportunities available for certified public accountants. If you are interested in getting certified, take a look at the Web site of the American Institute of Certified Public Accountants for information on specific state requirements.
9. Web design. If you can design quality Web sites, consider turning your skills into a home-based business. Although the software and hardware costs can be steep, good Web designers tend to be well-compensated for their efforts.
10. Online affiliate programs do not require you to directly interact with customers or worry about finding room for products in your home. You can start a successful affiliate business by finding companies that offer products you are interested in and marketing them on the Internet.
11. Freelance typing jobs are a great way to earn money from home. Even in this age of ubiquitous computers, there continues to be a demand for skilled typists.
12. Publishing e-books can be a great way to share your knowledge with a vast market. You can write and sell e-books on any number of topics. If you have been successful at juggling a family and a home business, an e-book is a great way to share your secret with others.
13. Remodeling. If you are a gifted carpenter or contractor, you can turn your passion into your own business. The SBA provides loans to experienced contractors looking to renovate homes or businesses in order to sell them.
14. Interior design. If you have a flair for the creative, consider interior design. The American Society of Interior Designers Web site provides resources for aspiring interior designers, including a list of each state's requirements for licensing.
15. Catering or personal chef. Consider starting your own catering or personal chef business from your own kitchen. You can set yourself apart from competitors by providing specialized services such as low-carb or vegetarian menus.
16. Gift baskets. Gift basket creation is a popular and creative home-based business. Target both individuals and businesses to increase potential sales.
17. Wedding planner. If you are an ace at organizing important events and have a rolodex full of contacts, consider becoming a wedding planner. There are numerous online certification courses online, including one from Weddings Beautiful.
18. Personal shopper. If you are a great shopper with an eye for people's personal styles, you can offer your services to those less inclined. In addition, consider providing a gift shopping service for those too busy to shop themselves.
19. Concierge. If you have a lot of energy, a love for the mundane, and the ability to juggle multiple tasks, consider providing a personal concierge to busy business people or parents.
20. Custom jewelry creation. Designing your own custom design jewelry can be a lucrative pastime. Make sure to wear your own creations as a way to drum up business.
21. Computer repair. Are you the person everyone calls when they have a computer problem? Turn this into a business and start getting paid for fixing fatal errors. Check out Geeks on Call America and Rescuecom if you are interested in franchise opportunities.
1. Personal trainer. If you are fitness-minded, you can start your own career as a personal trainer.
2. Yoga instructor. Begin sharing your expertise with others by teaching yoga classes. There are a number of online resources, depending on the school of yoga that you practice. The Yoga Alliance Web site provides information on yoga schools, certification, insurance, and so on.
3. Tutoring. You can start a business tutoring students by advertising at schools, the local YMCA, and other places frequented by families. If you have children, talk to their teachers and determine the needs of your school district.
4. Business coaching. Have experience with management or some other specialized business skill? Share it with others by becoming a business coach. The International Coach Federation provides certification and a coach referral service for its members.
5. Making and selling candles and crafts is a great way to involve your children in your work. If you are handy at making attractive crafts, you can have your children help you create them and you can easily market these items from your home.
6. Catering can be a good fit for busy parents who love to cook and entertain. Most of the work can be done in your home while looking after your children, with only a minimum of time spent out of the house.
7. Medical claims billing. This industry is one of the most popular work-from-home businesses — so much so that suspect companies have been popping up on the Internet and in classified advertisements. ELearners.com can help you locate transcription training courses online.
8. Accounting. There are many franchises and opportunities available for certified public accountants. If you are interested in getting certified, take a look at the Web site of the American Institute of Certified Public Accountants for information on specific state requirements.
9. Web design. If you can design quality Web sites, consider turning your skills into a home-based business. Although the software and hardware costs can be steep, good Web designers tend to be well-compensated for their efforts.
10. Online affiliate programs do not require you to directly interact with customers or worry about finding room for products in your home. You can start a successful affiliate business by finding companies that offer products you are interested in and marketing them on the Internet.
11. Freelance typing jobs are a great way to earn money from home. Even in this age of ubiquitous computers, there continues to be a demand for skilled typists.
12. Publishing e-books can be a great way to share your knowledge with a vast market. You can write and sell e-books on any number of topics. If you have been successful at juggling a family and a home business, an e-book is a great way to share your secret with others.
13. Remodeling. If you are a gifted carpenter or contractor, you can turn your passion into your own business. The SBA provides loans to experienced contractors looking to renovate homes or businesses in order to sell them.
14. Interior design. If you have a flair for the creative, consider interior design. The American Society of Interior Designers Web site provides resources for aspiring interior designers, including a list of each state's requirements for licensing.
15. Catering or personal chef. Consider starting your own catering or personal chef business from your own kitchen. You can set yourself apart from competitors by providing specialized services such as low-carb or vegetarian menus.
16. Gift baskets. Gift basket creation is a popular and creative home-based business. Target both individuals and businesses to increase potential sales.
17. Wedding planner. If you are an ace at organizing important events and have a rolodex full of contacts, consider becoming a wedding planner. There are numerous online certification courses online, including one from Weddings Beautiful.
18. Personal shopper. If you are a great shopper with an eye for people's personal styles, you can offer your services to those less inclined. In addition, consider providing a gift shopping service for those too busy to shop themselves.
19. Concierge. If you have a lot of energy, a love for the mundane, and the ability to juggle multiple tasks, consider providing a personal concierge to busy business people or parents.
20. Custom jewelry creation. Designing your own custom design jewelry can be a lucrative pastime. Make sure to wear your own creations as a way to drum up business.
21. Computer repair. Are you the person everyone calls when they have a computer problem? Turn this into a business and start getting paid for fixing fatal errors. Check out Geeks on Call America and Rescuecom if you are interested in franchise opportunities.
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