Questions You Must Ask and Answer to Succeed in Business

A – Is your product suitable? You might have an amazing product, and maybe even an incredibly reasonable price, but if the product is not suitable for the customers, they won’t want to spend any money on it. No matter how good that product may be, if it’s not something that the customers will use, they won’t buy it.

B – Have you analyzed the market? Before you can really put out your product, you first need to know if there is even a market for it. Run test mailings and give free samples. See what happens. Check into what people are buying and see if your product can be put into the pile too. You can even look around to see if there is anything similar to your product and see how well that is selling.

C – Who are your customers? While you are researching what people are buying, also look at who your customers or desired customers are. Age, sex, geographic region, and so on. It’s much more important than so many companies realize. You would be quite surprised and how many companies do not even bother looking into who their potential or desired customers even are. Then end up marketing to the wrong group!

D – Why would they buy from you? Chances are there are a number of other companies people can choose to purchase from. You must set yourself apart from the others and give them specific reasons to buy from you, and not from your competition. You have to set yourself apart from the rest, either via price point, benefits of using the product, your own and your company’s trustworthiness, and so on, are quite valuable to those potential customers.

E – What alternatives are available? For that matter, since you know why they should buy from you, you must know what else is available so you know what you need to differentiate yourself from.

F – What does each customer cost (cost of acquisition)? Here is a more advanced question that some businesses don’t really figure out very well, if at all. First you have to figure out how much you spend total on advertising, then you need to see how many customers you have, divide the money by the number of customers and there you have the CoA. You may have the best product in the world, but if you do not sell enough quantity, or your profit margin is too low, you cannot make your business a success.

5 Proven Steps To Starting An Online Home Business

Starting an online home business is not as difficult as you may think. People from all walks of life have taken advantage of the internet and created their own businesses. An online home business allows you to reach customers from around the world. It’s a business that can stay open around the clock, 7 days a week. Here are the 5 proven steps to starting a successful online home business.

1. Your Products

One of the great advantages of running an online home business is that you don’t have to create or produce your own products. You can very easily sell other peoples’ products and get paid for doing that. There are countless numbers of different products and services available for you to sell online using this affiliate marketing model. The product owner arranges all the payment systems, delivery and customer queries. Your job is to find the customers.

2. Build A Website

To start an online home business you need a website and it’s typically this component that people worry about. But there is a wide range of easy to use software that can get your business online in no time at all. You don’t have to be a computer expert or have lots of specialized knowledge. The other option is to outsource the website build. There are plenty of website designers wanting work on freelance websites like Elance or oDesk.

3. Advertise

Adverting online makes it possible for you to put your products and services in front of large numbers of people for very little cost. This coverage is simply not possible in the conventional offline world. When you know how to advertise and market your products you can get your messages to people who are looking for what you are selling.

4. Build A List

Adverting will drive potential customers to your website, but to maintain contact with those prospects, you need to capture their email address. This will enable you can then go to them with information instead of waiting for them to come back to you. List building is the life blood of an online home business.

5. Provide Value

When somebody gives you their email address they don’t want to be bombarded with sales messages all the time. So, when you provide information that is useful to your subscriber they will start to like and have confidence in you. Then, when you do make an offer for a product, they will be more likely to buy from you because they are able to make an informed decision based on the high quality of your business and the value you provide to them.

Regardless of your age, education, technical skills or qualifications there are no specific requirements for being a successful online entrepreneur. However you will be more successful with a solid business model to work from, clear direction, training and support. If you don’t know where to start or you’re not achieving the online success that you want.