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Further
Reading ...
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30 Second Elevator Pitch :: do you have one? - Teena Hughes
What's an "elevator pitch"? ................................................. As you start your new business, you'll be asked many, many (did I say "many"?) times, "What do you DO for a living?", "What business are you in?". I'm sure you have...
Literally Littered with Illiteracy - Stephen Brennan
There’s some ‘alliteration’ for you! My great concern though, is the fact that there are too many today who wouldn’t understand the title or know the meaning of ‘alliteration’ (a repetition of words beginning with the same letter – as in Peter...
Home based network marketing - Rolf Rasmusson
Home based network marketing Working at home in network marketing Home based network marketing has never been easier. With the raft of electronic tools, bells and whistles of electronics coupled with the internet your task has been chopped down...
Avoiding Information Overload - Karin Peavy
Maybe you have an online business up and running or maybe you're just thinking about starting one. In any case, you probably spend a fair amount of time surfing the net for affiliate opportunities, resources, software, etc. Most likely you run...
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APPLY YOUR KNOWLEDGE IN NEW WAYS
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Written By:
Carol Woods
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One of the quickest ways to increase the income from your home business is to develop new products or services which relate to the products you are already selling. This works for two reasons: first, you have the opportunity to sell the new products to your existing customers (if they were interested in the original product and this one is similar or relates in some way it will likely also be of interest to them); and second, you can leverage the skills and knowledge you are utilizing with your current product to develop the new ones, which saves time and effort on your part.
I have some examples below which will help you understand what I mean. But first, a little structure:
Generally speaking your products will fall into these categories:
§selling goods
§selling services, where you physically do something for another person
§selling information, where you document how to do something and then package and sell it
Start thinking about your current primary product or service, and jot down ideas on how you can sell goods, services and information that relate to it. Don't judge your ideas at this point; you want to get a lot of ideas down and you will refine them later. Try to come up with at least 20 ideas.
Here are a couple of examples:
1.Current product: You sell your children's outgrown clothing on eBay. New product ideas:
§Goods: buy clothing at garage sales and discount stores to sell on eBay
§Goods: create crafty baby item (bibs? Blankets?) and sell on eBay
§Services: offer to sell - continued below ...
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continued ...
other people's outgrown clothing or garage sale items on eBay for a percentage of the receipts
§Information: write a book on best ways to sell on eBay
2.Current product: You create and sell quilts. New product ideas:
§Goods: develop a new product (baby quilts?) and sell it via the web, to local boutiques, or on eBay
§Goods: purchase sewing notions on closeout and develop sewing kits to sell
§Services: sew items to order for others
§Information: develop a book of quilt patterns or gift ideas to sew
§Information: document the tips you've learned through years of sewing which a newcomer can use to do professional work more quickly
3.Current product: You are an attorney and do legal work for small business owners. New product ideas:
§Goods: doesn't apply in this case
§Services: develop a fixed-price package for specific services you are often asked to do - for example, a "new business startup package".
§Information: write book of legal tips for business owners
Got it? Then, get out a piece of paper and get started!
(c) 2002 Carol Woods
About the Author
Carol Woods is the editor of Work at Home Income, a weekly publication of Income Building Blocks. IBB offers free ideas, information and inspiration for moms who work at home - or want to! For lots of free ideas to help you find a work at home job or start a home based business, visit us at http://www.income-building-blocks.com and sign up for Work at Home Income!
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| _Additional Resources ... |
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Imagine PR Like This Helping You - Robert A Kelly
As the kids say, how cool is this? You’re a business, non-profit or association manager and, finally, you decide to do something positive about the behaviors of those important outside audiences of yours – behaviors that MOST affect your...
A Big Tax Loophole Just Got Bigger - Wayne M Davies
Believe it or not, there are ways to convert taxable income into non-taxable income, without any fear of an IRS audit. Here's one of my favorites. It's been part of our beloved tax code for over 30 years, yet many still don't take advantage of it. ...
Beat Credit Card Companies at Their Own Game! - Daryl Flagg
Have you ever wondered how much money a credit card company makes? Have you ever wondered how much of that comes from late fees? Everyone has and if you haven’t you should because most likely you own a credit card, which means that these late fees...
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