Archive for 'Tastes'

How To Select Your Product Line: Researching Your Market


Make Fact-Based Decisions

Choosing what products you’ll sell is one of the most important decisions you’ll make regarding your eBiz. If you choose your product line based on personal preferences or hot-item lists, you’re gambling with your business. There may not be a market for your particular tastes or the market may be saturated. And by the time an item reaches a hot-list, the supply has met or exceeded the demand.

That’s why you need to base all your decisions on your market research. Gather information about specific products, not just overall market data. You want to know exactly what the demand and competition is for your particular item. You’re looking for products with steady demand, but without a huge amount of competition—niche markets. Research can reveal a lot about what you should sell and how you should sell it.

Determine If Your Product Will Do Well

You need to find out if you can compete with a product before you decide to sell it. There are some questions you can ask that will help you determine if it’s a good choice for you:

• How much demand is there? Use tools like http://WordTracker.com or http://Terapeak.com to see how many people are searching for your product. You want items with a consistent, median demand.

• How much competition will I have? You can find your competition the same way your customers do—type the name of your item into a search engine and sift through the results. If the market’s flooded, be willing to keep looking—there are plenty of product markets out there with enough room for you.

• Can I be competitive? Consider your competitions’ retail prices and their shipping costs. They may offset the one with the other, so it’s important to look at both. Compare them with your own wholesale and shipping costs, and determine if you’ll be able to charge competitive prices and still make a profit.

WorldwideBrands.com offers a Market Research Wizard that takes all these factors into account and tells you how likely you are to be profitable with an item.

Find the Best Way to Market Your Product

In addition to showing you which items you should be selling, market research can also show you how you should be selling them. You can see what keywords people are using to search for your product and pick keywords for your ads and your optimization accordingly. You want focused words that will bring in the right kind of traffic—users specifically searching for what you’re selling.

You can also look at your competitors to see what the successful and unsuccessful ones do differently. Pay attention to their advertisements and auction listings to get an idea of what works and what doesn’t. The more familiar you are with your market, the better equipped you’ll be to succeed in it.

Written by Ricco Richardson
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Getting Your Home Ready For Your Home Business


Congratulations on becoming your own boss! You now have the perfect opportunity to create an effective work area suited to your tastes. Whether it’s a nook, cranny or a separate room, your work area should be conducive to performing your daily work.

A well-organized work space also means efficient invoicing, expensing and follow-up, which translates into dollars in your pocket. For home-based businesses, organization is doubly important. A good system can help set boundaries between home life and work life, giving more time to actually enjoy the freedom of being your own boss.

Make a List
With the product or service you have in mind, can you handle the business from your home the way it is right now? If not, what do you need to do to get it ready?

· Will you need space for inventory, supplies, records and/or equipment?
· Do you already have an area you can use for your office or will you need to bargain with another member of the family to give up some space?
· Is the nature of your inventory or equipment such that special climate needs must be accommodated?
· Do you need to add a room, enclose a patio, convert a garage or basement, or stake out the attic?
· What kind of power needs will you have and will you have to make any alterations to accommodate them?

As you determine what you’ll need, keep track of your estimate costs because you’ll need them later in this exercise.

Establish a home-office space
Find an appropriate work area. Look around your home and find a spot that you will be comfortable working in. This can be an open closet space, a nook in the family room, or a spare bedroom. Before you start organizing, make sure your office is in the right place. You’re going to spend most of the day here. Don’t banish yourself to a room you don’t like. Often, people plan to put their office in a spare bedroom they never use, except they hate that dark, isolated room and wind up doing all their work on the dining room table!

Just keep practicality in mind while designing your office. For example, if you need to keep an eye on small children while you’re working, then make sure your home office will allow this. Another thought is to ensure that you have some privacy with a curtain, door, or structure. This will enable you to conduct business calls as needed as well as separate your ‘work time’ from your ‘family time’. Slowly purchase any needed equipment that you’ll need to get your office ready for business, including a computer, printer, fax machine, copier, paper supplies, and a good Internet connection. My suggestion is to invest in the core equipment you need, and add as you go. Remember, these are all business expenses!

Setting Up Your Home Office
Skip that trip to Staples. Before loading up on nifty organizational devices, you have to figure out what goes where, what you’re keeping and what you’re throwing out.

A well-equipped workspace will contain all necessary supplies and equipment within arms reach. Larger tools like fax machines and printers should be set up in areas with easy access.

Use a desk caddy. Keep a sufficient supply of pens, pencils, paper clips scissors and other supplies in a desktop holder or a tray inside a desk drawer.

Make sure to keep 2/3 of your desktop cleared at all times. It is easier to function and maintain focus when your desk space is open and free of clutter.

Keep your papers in process vertical instead of horizontal in piles. There are several vertical stepped file holders on the market today. One of the most useful has eight steps to hold eight ‘manilla’ folders. Ideas for the folder headings would be: Calls To Make, Waiting For Response, Data Entry, Bills To Pay, Projects etc. Projects often become 2-3 working folders. Once a project contains 3-4 sheets of paper, it merits a separate folder. Store all project folders behind each other in the stepped unit. This type of system is called an “Action System”. You will need to touch and work at least one of these folders every day or the system will break down and become overcrowded. When deciding where to put specific items, focus on finding them, not storing them.

Mimic the corporate environment by creating forms for everyday tasks. For example, type up a personalized Fax Transmittal Form that includes your company name, phone number and other pertinent information. Make copies and leave them by your fax machine for quick and efficient fax transmissions. Create standard email signatures for your email correspondence.

Don’t quit and remove what isn’t working for you!
Organizing is such a huge task, people often quit before finishing. Invariably, those remaining little piles of clutter take over the office, reducing it to chaos again.
Some things that will keep you living in chaos and unhappiness include: clutter, disorganization, broken items, and time wasting tasks. These items will only stress you out and wear you down so after you make a list of them, it is time to begin removing them from your daily life.

A final word! Adhere to a daily routine and schedule. Maintain focus on your long-range goals (life and business) as you go about your daily tasks. Consider whether the business you are involved in is directly related to your long-term goals. Keep your schedule constantly aligned with the specific reason that you began working for yourself and you will go far!

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