Best Home Based Business For 2009 Tips on Finding Your Product
Finding the right product to sell is one of the biggest decisions you will make. If you pick the wrong product at the wrong time, there will be nothing you can do to make a profit. Here are a couple of tips that can help.
Product Research
You have to do your product research and watch the trends to see what products are in need. You can't just pick a product, you have to let the people tell you want they want to buy.
There are literally thousands of products that you could choose from. Some businesses have products that offer higher paying commissions than others. Remember that their are many tools that you can utilize in your search. I always start at Google.
The Product Must Have Value:
The product that you choose to market must have value in the market place. The are hundreds of different product you could pick. Keep in mind who your competition will be. If you choose products that are also marketed at Wal-Mart, or the neighborhood Target, it will be harder to convince your market to shop with you.
Products must have value
When your doing your product search, make sure that the products are something that actually gives value and increases the well being of someones life. Anybody can sell vitamins, juices and pills -Target, Walmart, and every other retail store.
Find products that make you feel good when you sell them. Make sure your product isn't already saturated in the market and also make sure you are getting paid a high commission on that product.
Introducing Residual Income. What every home based business you choose, make sure that the product offers you residual income. Marty Foley defines Residual income- (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended. Compare this to what most people focus on earning: linear income, which is "one-shot" compensation or payment in the form of a fee, wage, commission or salary.
Product Play Plan must have Residuals
This is one of the most important aspects when looking at a new business venture. The concept of do the work once, and get paid over and over. That just sounds more appealing than trading time for money. Have you ever heard the saying "I would rather get paid 1% of 100 peoples efforts, than 100% of my own". This business model enables you to sell a product today but continue to get paid month after month for getting the customer. Like monthly bills, but going in your pocket.
Product Research
You have to do your product research and watch the trends to see what products are in need. You can't just pick a product, you have to let the people tell you want they want to buy.
There are literally thousands of products that you could choose from. Some businesses have products that offer higher paying commissions than others. Remember that their are many tools that you can utilize in your search. I always start at Google.
The Product Must Have Value:
The product that you choose to market must have value in the market place. The are hundreds of different product you could pick. Keep in mind who your competition will be. If you choose products that are also marketed at Wal-Mart, or the neighborhood Target, it will be harder to convince your market to shop with you.
Products must have value
When your doing your product search, make sure that the products are something that actually gives value and increases the well being of someones life. Anybody can sell vitamins, juices and pills -Target, Walmart, and every other retail store.
Find products that make you feel good when you sell them. Make sure your product isn't already saturated in the market and also make sure you are getting paid a high commission on that product.
Introducing Residual Income. What every home based business you choose, make sure that the product offers you residual income. Marty Foley defines Residual income- (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended. Compare this to what most people focus on earning: linear income, which is "one-shot" compensation or payment in the form of a fee, wage, commission or salary.
Product Play Plan must have Residuals
This is one of the most important aspects when looking at a new business venture. The concept of do the work once, and get paid over and over. That just sounds more appealing than trading time for money. Have you ever heard the saying "I would rather get paid 1% of 100 peoples efforts, than 100% of my own". This business model enables you to sell a product today but continue to get paid month after month for getting the customer. Like monthly bills, but going in your pocket.
About the Author:
Learn more about how to start a home based business. Stop by Dinero Russell's site where you can find tips on starting a home based business.