by Kendall Summerhawk
When I was a kid, I couldn't wait for the Lillian Vernon catalogues to arrive in the mail. Each page was chock full of items that had no real purpose other than they were fun to look at and buy.
As I thumbed through the pages, I wasn't dreaming about what I wanted to purchase (at fourteen, I didn't have much use for monogrammed teacups and dishtowels). I was picturing how utterly cool it would be to have a mail order business where every day checks arrived, as if by magic, in my mailbox.
Fast forward thirty-plus years and I STILL think it's utterly cool to receive orders. This is why I created an information product in the first year of my success coaching business.
What I've learned business coaching is that practically any business can create an information product. All it takes is branding, creativity, and an eye for how to turn what you do into a marketable product.
The other thing I've learned is that if you don't have an information product yet, now is the time to focus on creating one.
Why?
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
Here are my top 5 strategies for how you can use your own information product to create a straight "as-the-crow-flies" line to putting more money in your pocket.
Strategy 1: You're now THE expert. Nothing catapults you into expert status faster than an information product. The reason is simple. Now you're an author and an author is an authority.
Once prospective clients find out you're an author, they immediately believe you're worth more and will seek you out for speaking and interviews, as well as purchasing your services.
Here's a business coaching tip: you don't even have to wait until you have your product to say you're an author. You can start adding, "Author of the soon to be released XYZ Home Study Course" to your email signature and other marketing materials. This WILL get you more business and instant prestige!
Strategy 2: Give away your product. I know, this sounds like a backwards way to make more, but it works. Giving away your product to the right people can get you media exposure, speaking gigs, requests for interviews and new clients.
The key to making this strategy work is: don't be chintzy! Your product doesn't cost that much to produce, yet the lifetime value of a client is worth thousands of dollars. I've sent my book to magazines for reviews, given copies to key people I meet, sent it as a "thank you" to guests on my Ask the Expert Salon teleseminars , donated it to charity auctions, and given it to different businesses to have in their waiting rooms.
I recommend that my success coaching clients set a goal to give away 100 copies of their information product. It's tangible, valuable marketing that costs little and pays off big time.
Strategy 3: Bundle your product with other services. Once you have an information product, you can use it as a bonus to another service, or you can make owning it a prerequisite for your high-priced workshop (see 4 below.) Either way, you're leveraging your product to help sell more expensive services.
Strategy 4: Create a signature workshop or training program around your information product. Just because someone buys your product doesn't mean that's all they want. In fact, statistically, you'll have an easier time selling your more expensive workshops or programs to existing clients than to strangers.
For example: my book, Brilliance Unbridled, nearly paid for itself in the first three months of publication. Success coaching clients began signing up for both private and group HorseWise Brilliance Unbridled -- just from reading the book.
Strategy 5: Get others to include your product in THEIR training, product, or service. A few years ago, my Marketing Makeover Kit was included in a training program for interior re-designers. The training organization purchased copies in bulk from me every couple of months.
I passed this business coaching tip to a colleague who immediately implemented this strategy. Now her eBook is included in the new-student package for a monthly training program. Not only is she making money on the sale of ten copies of her eBook each month, she's been asked to speak at an upcoming training event.
Did you notice that none of my top five strategies included selling your information product? Of course, selling your product is an excellent way of bringing in the bucks, but I wanted to prove how lucrative an information product is, even before you sell your first copy!
About The Author: Award winning small business expert Kendall SummerHawk is the "Horse Whisperer for Business." Kendall delivers simple ways entrepreneurs can brand, package and price their services to quickly move away from "dollars-for-hours work" and create more money, time, and freedom in their businesses. For free articles, free resources and to sign up for her free audio mini-seminar "7 Quick and Simple Tips to Brand, Package and Price Your Services for More Money, Time and Freedom in Your Business" visit www.KendallSummerHawk.com
source:http://www.weeklytips.com
Showing posts with label Marketing. Show all posts
Showing posts with label Marketing. Show all posts
Thursday, 4 June 2009
Advertising Your Home Business On A Budget
by Stone Evans
When you are starting out in a new home business and no one knows who you are, one of the greatest challenges you will face is how to drum up new business.
If there were not people in your community or marketplace that you knew who needed your products or services, you probably would not have started your business to begin with. But, once you have talked to those who you personally knew who needed your what you offer, then your next task is to find others who will help keep your doors open.
Many people know that they must turn to advertising at some point in the future, but they hope that day will be long down the road. For some, this utopian concept will come to fruition.
But for the rest of us in the real world, we must come up with creative solutions for meeting our home business advertising needs while working within our budget.
Most people have a misconception about having to spend lots of money in order to advertise their home business. When you start out, you honestly will not have much money available for advertising, and if you do, you should still spend it wisely.
Before you jump headfirst into the world of advertising, let me share some of the lessons I have learned concerning this most important topic.
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
LESSON 1
It does not have to cost an arm and a leg to advertise your home business, unless you fail to plan and fail to test.
As much as is possible, you should always test your advertising. If you jump in and start dumping tons of money in to advertising without first testing your advertising, you might find yourself broke and without sales at the end of the road.
Most people who commit this error write off their failure on the home business they chose or the economy or any of a hundred other excuses. But, if they are unwilling to take responsibility for their mistake, they will never learn from their mistake. Don't let this be you.
LESSON 2
All testing should be done in blocks. If you begin to advertise simultaneously in newspapers, radio and television, how will you know which advertising is bringing people to your cash register? You won't. All you will know that something might be working, but you will not know what is actually doing the trick.
Even if you tell people in your advertising to tell you how they found you, my experience shows that fewer than 10% of the people ever will tell you anything - and those people who do may not even get the facts straight! You cannot rely on your customers to tell you what advertising is working for your home business. You must put in the extra effort to know for yourself.
LESSON 3
Only when you have a proven and solid advertising portfolio should you venture to drop big bucks in an advertising campaign. Even then, you should be careful to keep further measurements to determine how much the maximum advantage of an ad would be.
Sometimes you might be able to reach ten times as many people, but depending on the kind of media and other factors, the additional exposure will only generate twice as many sales. Keep your eye attuned to situations like this to get the most from your advertising dollars.
LESSON 4
As Lesson 3 illustrates, sometimes your best advertising investment may actually cost you less money. When you are first starting out, whether you are running a home business or a business outside of your home, you need to be able to get people talking and thinking about your business.
If you are busy testing ads in media's such as the newspaper, magazines, radio, and television, you need to learn ways of promoting your business that do not require large cash expenditures. A few examples are:
• Word of Mouth
• Business Cards
• Press Releases
• Non-Primetime Ads on Radio and Television
Here is more information about each type of low-cost advertising:
WORD OF MOUTH
This of course is the cheapest kind of advertising on the planet - it does not cost you anything. Ask your customers if they know anyone who could also use your products or services. When they are happy with your offerings and service, they will be willing to tell you whom you can contact, and they will pass the word for you.
BUSINESS CARDS
You can usually pick up 500 business cards for about $20. When you do, hand them out. Do not give more than a couple of cards to each person. If they need more cards from you, they will ask.
Some people are known to network with others on a regular basis. Some of these people are also known to be always looking for an extra few bucks. With these people, you can suggest to them that if they write their name on the back of one of your business cards and the card is presented to you, then you will pay a referral fee to them.
You do not have to offer much - sometimes one dollar is enough. Look at your home business and your offerings and decide how much would be a good referral fee.
PRESS RELEASES
Press Releases are a good source for generating news about your home business. The business editor at your local newspaper is always on the lookout for a good business story to fill the business news section of the newspaper.
Of course, the business editor understands the economics of running a paper and is more inclined to run your story if you buy advertising in his/her publication, but will still print stories for special events and openings.
The important thing to remember about Press Releases is that it must be constructed in the form of a news story. Even if you are a sole proprietorship, quotes from you should be written in a third person format: John Doe said, "Your quote here."
A Press Release should pack the most important information at the beginning of the copy, and leave extra details towards the end.
You should always provide the reporter who gets the task a simple and easy way for him/her to contact you directly. Often the reporter will want to contact you to get details that will enhance their take on your story.
NON-PRIMETIME ADS ON RADIO AND TELEVISION
Believe it or not, some of the best rates for radio and television are on the overnight and non-primetime venues. These target times are not a total waste as they can easily keep the infomercial people in business.
These off-hours are just less populated than the primetime hours.
Don't be afraid to check your local radio and television rates for non-primetime hours to see what bargains may exist. With television, primetime is 7pm to 10pm. With radio, primetime is 8am to 5pm. This sure leaves a whole lot of hours available to advertise your home business at discount rates!
IN CONCLUSION
When it comes down to it, there is a lot to understand about advertising, but when you have the basic knowledge down pat, everything will fall into place and bring more dollars to your bank account.
About The Author: About Stone Evans, The Home Biz Guy: I Was A Washed Up Restaurant Worker Desperately Searching For A Way To Save My Family When I Discovered The Internet And Affiliate Marketing...24 Months Later I Finally Cracked The Code And Started Earning Over $10,000.00 Per Month...Now The Same System That Saved Me Is Available To You! Check It Out Now At: http://www.HomeBusiness.us
Source:http://www.weeklytips.com
When you are starting out in a new home business and no one knows who you are, one of the greatest challenges you will face is how to drum up new business.
If there were not people in your community or marketplace that you knew who needed your products or services, you probably would not have started your business to begin with. But, once you have talked to those who you personally knew who needed your what you offer, then your next task is to find others who will help keep your doors open.
Many people know that they must turn to advertising at some point in the future, but they hope that day will be long down the road. For some, this utopian concept will come to fruition.
But for the rest of us in the real world, we must come up with creative solutions for meeting our home business advertising needs while working within our budget.
Most people have a misconception about having to spend lots of money in order to advertise their home business. When you start out, you honestly will not have much money available for advertising, and if you do, you should still spend it wisely.
Before you jump headfirst into the world of advertising, let me share some of the lessons I have learned concerning this most important topic.
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
LESSON 1
It does not have to cost an arm and a leg to advertise your home business, unless you fail to plan and fail to test.
As much as is possible, you should always test your advertising. If you jump in and start dumping tons of money in to advertising without first testing your advertising, you might find yourself broke and without sales at the end of the road.
Most people who commit this error write off their failure on the home business they chose or the economy or any of a hundred other excuses. But, if they are unwilling to take responsibility for their mistake, they will never learn from their mistake. Don't let this be you.
LESSON 2
All testing should be done in blocks. If you begin to advertise simultaneously in newspapers, radio and television, how will you know which advertising is bringing people to your cash register? You won't. All you will know that something might be working, but you will not know what is actually doing the trick.
Even if you tell people in your advertising to tell you how they found you, my experience shows that fewer than 10% of the people ever will tell you anything - and those people who do may not even get the facts straight! You cannot rely on your customers to tell you what advertising is working for your home business. You must put in the extra effort to know for yourself.
LESSON 3
Only when you have a proven and solid advertising portfolio should you venture to drop big bucks in an advertising campaign. Even then, you should be careful to keep further measurements to determine how much the maximum advantage of an ad would be.
Sometimes you might be able to reach ten times as many people, but depending on the kind of media and other factors, the additional exposure will only generate twice as many sales. Keep your eye attuned to situations like this to get the most from your advertising dollars.
LESSON 4
As Lesson 3 illustrates, sometimes your best advertising investment may actually cost you less money. When you are first starting out, whether you are running a home business or a business outside of your home, you need to be able to get people talking and thinking about your business.
If you are busy testing ads in media's such as the newspaper, magazines, radio, and television, you need to learn ways of promoting your business that do not require large cash expenditures. A few examples are:
• Word of Mouth
• Business Cards
• Press Releases
• Non-Primetime Ads on Radio and Television
Here is more information about each type of low-cost advertising:
WORD OF MOUTH
This of course is the cheapest kind of advertising on the planet - it does not cost you anything. Ask your customers if they know anyone who could also use your products or services. When they are happy with your offerings and service, they will be willing to tell you whom you can contact, and they will pass the word for you.
BUSINESS CARDS
You can usually pick up 500 business cards for about $20. When you do, hand them out. Do not give more than a couple of cards to each person. If they need more cards from you, they will ask.
Some people are known to network with others on a regular basis. Some of these people are also known to be always looking for an extra few bucks. With these people, you can suggest to them that if they write their name on the back of one of your business cards and the card is presented to you, then you will pay a referral fee to them.
You do not have to offer much - sometimes one dollar is enough. Look at your home business and your offerings and decide how much would be a good referral fee.
PRESS RELEASES
Press Releases are a good source for generating news about your home business. The business editor at your local newspaper is always on the lookout for a good business story to fill the business news section of the newspaper.
Of course, the business editor understands the economics of running a paper and is more inclined to run your story if you buy advertising in his/her publication, but will still print stories for special events and openings.
The important thing to remember about Press Releases is that it must be constructed in the form of a news story. Even if you are a sole proprietorship, quotes from you should be written in a third person format: John Doe said, "Your quote here."
A Press Release should pack the most important information at the beginning of the copy, and leave extra details towards the end.
You should always provide the reporter who gets the task a simple and easy way for him/her to contact you directly. Often the reporter will want to contact you to get details that will enhance their take on your story.
NON-PRIMETIME ADS ON RADIO AND TELEVISION
Believe it or not, some of the best rates for radio and television are on the overnight and non-primetime venues. These target times are not a total waste as they can easily keep the infomercial people in business.
These off-hours are just less populated than the primetime hours.
Don't be afraid to check your local radio and television rates for non-primetime hours to see what bargains may exist. With television, primetime is 7pm to 10pm. With radio, primetime is 8am to 5pm. This sure leaves a whole lot of hours available to advertise your home business at discount rates!
IN CONCLUSION
When it comes down to it, there is a lot to understand about advertising, but when you have the basic knowledge down pat, everything will fall into place and bring more dollars to your bank account.
About The Author: About Stone Evans, The Home Biz Guy: I Was A Washed Up Restaurant Worker Desperately Searching For A Way To Save My Family When I Discovered The Internet And Affiliate Marketing...24 Months Later I Finally Cracked The Code And Started Earning Over $10,000.00 Per Month...Now The Same System That Saved Me Is Available To You! Check It Out Now At: http://www.HomeBusiness.us
Source:http://www.weeklytips.com
10 Ways to Sabotage Your Website and Send Visitors Packing
by Stephanie Chandler
If you’re running a website or online business, your number one goal should be to build traffic. The following are ten ways to drive traffic away from your site. Make sure you aren’t making these mistakes.
1. Links Open in the Same Window: If links to other sites don’t open in a new window, then you are giving your traffic away. Don’t expect site visitors to use the “Back” button or remember where they started. Once they’re gone, they are most likely gone for good.
2. No Free Content: Sites that are pure sales pitches are missing the boat. You need to establish credibility with your site visitors and give them a reason to come back.
Simply displaying the internet equivalent of an infomercial gives your visitors little chance to get to know you—and many people will need to be exposed to your site a number of times before buying. Offer articles, links, statistics, and other useful information.
3. Poor Design: You don’t have to be a professional web designer to have a quality site. You can purchase an inexpensive template to give your site a uniform and professional appearance.
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
4. Useless Newsletter: If you don’t already have a newsletter, you should. This is an effective and inexpensive way to market your business. Your newsletter MUST provide information your subscribers want.
The best newsletters give free tips and advice—and lots of it. You want your subscribers to enjoy receiving your content and to pass it on to a friend. Survey your readers and ask for feedback. Find out what they want and then figure out how to deliver.
5. Difficult to Subscribe: You should be asking your visitors to sign up for your newsletter or ezine and make it easy for them to do so. Every single page in your site should provide the opportunity to subscribe. Archiving copies of your newsletter also allows visitors the chance to try before they buy. If your newsletter is good enough, subscribers will be in abundance.
6. Weak “About” Info: Too many websites either don’t have an “About Us” page or have one with minimal information. Not only is this page a tool to establish credibility with your customers, it’s a way the media can learn more about your business.
7. Lacking Contact Info: Similar to the “About Us” page, the “Contact Us” page needs to be as thorough as possible. If you don’t include a mailing address or location information, site visitors may question your credibility. If you don’t have a commercial location, you can rent a post office box. You may never even receive mail there, but at least you will be accessible.
8. Too Much Advertising: You want your site to sell, but you will drive potential customers away by advertising too heavily. Avoid becoming a banner farm and balance quality content with related advertising.
9. Using a Hit Counter: There is absolutely no reason to provide a hit counter on your site. Why advertise your site traffic to everyone when you can obtain the statistics through your hosting provider?
10. Broken Links: Not only do broken links hurt your website rankings when crawled by the search engines, but they frustrate visitors. If you provide a lot of links on your site it can be difficult to keep up with them. Make a point of testing your links on a regular basis and let your visitors help you by including an option on each page to “Report a Broken Link.”
If your site is guilty of any of the above offenses, then it’s time to act. Evaluate the web sites you visit and notice which sites look very professional and which sites need help. Virtually anyone can run a successful website by being resourceful and avoiding these mistakes.
About The Author: Stephanie Chandler is an author of several business and marketing books including “The Author’s Guide to Building an Online Platform” and “From Entrepreneur to Infopreneur”. She is also founder and CEO of http://AuthorityPublishing.com, which provides custom book publishing and author marketing services for business, self-help and other non-fiction books. For hundreds of resources for entrepreneurs, authors and speakers visit http://BusinessInfoGuide.com.
Source:http://www.weeklytips.com
If you’re running a website or online business, your number one goal should be to build traffic. The following are ten ways to drive traffic away from your site. Make sure you aren’t making these mistakes.
1. Links Open in the Same Window: If links to other sites don’t open in a new window, then you are giving your traffic away. Don’t expect site visitors to use the “Back” button or remember where they started. Once they’re gone, they are most likely gone for good.
2. No Free Content: Sites that are pure sales pitches are missing the boat. You need to establish credibility with your site visitors and give them a reason to come back.
Simply displaying the internet equivalent of an infomercial gives your visitors little chance to get to know you—and many people will need to be exposed to your site a number of times before buying. Offer articles, links, statistics, and other useful information.
3. Poor Design: You don’t have to be a professional web designer to have a quality site. You can purchase an inexpensive template to give your site a uniform and professional appearance.
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
4. Useless Newsletter: If you don’t already have a newsletter, you should. This is an effective and inexpensive way to market your business. Your newsletter MUST provide information your subscribers want.
The best newsletters give free tips and advice—and lots of it. You want your subscribers to enjoy receiving your content and to pass it on to a friend. Survey your readers and ask for feedback. Find out what they want and then figure out how to deliver.
5. Difficult to Subscribe: You should be asking your visitors to sign up for your newsletter or ezine and make it easy for them to do so. Every single page in your site should provide the opportunity to subscribe. Archiving copies of your newsletter also allows visitors the chance to try before they buy. If your newsletter is good enough, subscribers will be in abundance.
6. Weak “About” Info: Too many websites either don’t have an “About Us” page or have one with minimal information. Not only is this page a tool to establish credibility with your customers, it’s a way the media can learn more about your business.
7. Lacking Contact Info: Similar to the “About Us” page, the “Contact Us” page needs to be as thorough as possible. If you don’t include a mailing address or location information, site visitors may question your credibility. If you don’t have a commercial location, you can rent a post office box. You may never even receive mail there, but at least you will be accessible.
8. Too Much Advertising: You want your site to sell, but you will drive potential customers away by advertising too heavily. Avoid becoming a banner farm and balance quality content with related advertising.
9. Using a Hit Counter: There is absolutely no reason to provide a hit counter on your site. Why advertise your site traffic to everyone when you can obtain the statistics through your hosting provider?
10. Broken Links: Not only do broken links hurt your website rankings when crawled by the search engines, but they frustrate visitors. If you provide a lot of links on your site it can be difficult to keep up with them. Make a point of testing your links on a regular basis and let your visitors help you by including an option on each page to “Report a Broken Link.”
If your site is guilty of any of the above offenses, then it’s time to act. Evaluate the web sites you visit and notice which sites look very professional and which sites need help. Virtually anyone can run a successful website by being resourceful and avoiding these mistakes.
About The Author: Stephanie Chandler is an author of several business and marketing books including “The Author’s Guide to Building an Online Platform” and “From Entrepreneur to Infopreneur”. She is also founder and CEO of http://AuthorityPublishing.com, which provides custom book publishing and author marketing services for business, self-help and other non-fiction books. For hundreds of resources for entrepreneurs, authors and speakers visit http://BusinessInfoGuide.com.
Source:http://www.weeklytips.com
5 Marketing Strategies On Using Information Products to Make More Money
5 Marketing Strategies On Using Information Products to Make More Money
by Kendall Summerhawk
When I was a kid, I couldn't wait for the Lillian Vernon catalogues to arrive in the mail. Each page was chock full of items that had no real purpose other than they were fun to look at and buy.
As I thumbed through the pages, I wasn't dreaming about what I wanted to purchase (at fourteen, I didn't have much use for monogrammed teacups and dishtowels). I was picturing how utterly cool it would be to have a mail order business where every day checks arrived, as if by magic, in my mailbox.
Fast forward thirty-plus years and I STILL think it's utterly cool to receive orders. This is why I created an information product in the first year of my success coaching business.
What I've learned business coaching is that practically any business can create an information product. All it takes is branding, creativity, and an eye for how to turn what you do into a marketable product.
The other thing I've learned is that if you don't have an information product yet, now is the time to focus on creating one.
Why?
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
Here are my top 5 strategies for how you can use your own information product to create a straight "as-the-crow-flies" line to putting more money in your pocket.
Strategy 1: You're now THE expert. Nothing catapults you into expert status faster than an information product. The reason is simple. Now you're an author and an author is an authority.
Once prospective clients find out you're an author, they immediately believe you're worth more and will seek you out for speaking and interviews, as well as purchasing your services.
Here's a business coaching tip: you don't even have to wait until you have your product to say you're an author. You can start adding, "Author of the soon to be released XYZ Home Study Course" to your email signature and other marketing materials. This WILL get you more business and instant prestige!
Strategy 2: Give away your product. I know, this sounds like a backwards way to make more, but it works. Giving away your product to the right people can get you media exposure, speaking gigs, requests for interviews and new clients.
The key to making this strategy work is: don't be chintzy! Your product doesn't cost that much to produce, yet the lifetime value of a client is worth thousands of dollars. I've sent my book to magazines for reviews, given copies to key people I meet, sent it as a "thank you" to guests on my Ask the Expert Salon teleseminars , donated it to charity auctions, and given it to different businesses to have in their waiting rooms.
I recommend that my success coaching clients set a goal to give away 100 copies of their information product. It's tangible, valuable marketing that costs little and pays off big time.
Strategy 3: Bundle your product with other services. Once you have an information product, you can use it as a bonus to another service, or you can make owning it a prerequisite for your high-priced workshop (see 4 below.) Either way, you're leveraging your product to help sell more expensive services.
Strategy 4: Create a signature workshop or training program around your information product. Just because someone buys your product doesn't mean that's all they want. In fact, statistically, you'll have an easier time selling your more expensive workshops or programs to existing clients than to strangers.
For example: my book, Brilliance Unbridled, nearly paid for itself in the first three months of publication. Success coaching clients began signing up for both private and group HorseWise Brilliance Unbridled -- just from reading the book.
Strategy 5: Get others to include your product in THEIR training, product, or service. A few years ago, my Marketing Makeover Kit was included in a training program for interior re-designers. The training organization purchased copies in bulk from me every couple of months.
I passed this business coaching tip to a colleague who immediately implemented this strategy. Now her eBook is included in the new-student package for a monthly training program. Not only is she making money on the sale of ten copies of her eBook each month, she's been asked to speak at an upcoming training event.
Did you notice that none of my top five strategies included selling your information product? Of course, selling your product is an excellent way of bringing in the bucks, but I wanted to prove how lucrative an information product is, even before you sell your first copy!
About The Author: Award winning small business expert Kendall SummerHawk is the "Horse Whisperer for Business." Kendall delivers simple ways entrepreneurs can brand, package and price their services to quickly move away from "dollars-for-hours work" and create more money, time, and freedom in their businesses. For free articles, free resources and to sign up for her free audio mini-seminar "7 Quick and Simple Tips to Brand, Package and Price Your Services for More Money, Time and Freedom in Your Business" visit www.KendallSummerHawk.com
Source: http://www.weeklytips.com
by Kendall Summerhawk
When I was a kid, I couldn't wait for the Lillian Vernon catalogues to arrive in the mail. Each page was chock full of items that had no real purpose other than they were fun to look at and buy.
As I thumbed through the pages, I wasn't dreaming about what I wanted to purchase (at fourteen, I didn't have much use for monogrammed teacups and dishtowels). I was picturing how utterly cool it would be to have a mail order business where every day checks arrived, as if by magic, in my mailbox.
Fast forward thirty-plus years and I STILL think it's utterly cool to receive orders. This is why I created an information product in the first year of my success coaching business.
What I've learned business coaching is that practically any business can create an information product. All it takes is branding, creativity, and an eye for how to turn what you do into a marketable product.
The other thing I've learned is that if you don't have an information product yet, now is the time to focus on creating one.
Why?
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
Here are my top 5 strategies for how you can use your own information product to create a straight "as-the-crow-flies" line to putting more money in your pocket.
Strategy 1: You're now THE expert. Nothing catapults you into expert status faster than an information product. The reason is simple. Now you're an author and an author is an authority.
Once prospective clients find out you're an author, they immediately believe you're worth more and will seek you out for speaking and interviews, as well as purchasing your services.
Here's a business coaching tip: you don't even have to wait until you have your product to say you're an author. You can start adding, "Author of the soon to be released XYZ Home Study Course" to your email signature and other marketing materials. This WILL get you more business and instant prestige!
Strategy 2: Give away your product. I know, this sounds like a backwards way to make more, but it works. Giving away your product to the right people can get you media exposure, speaking gigs, requests for interviews and new clients.
The key to making this strategy work is: don't be chintzy! Your product doesn't cost that much to produce, yet the lifetime value of a client is worth thousands of dollars. I've sent my book to magazines for reviews, given copies to key people I meet, sent it as a "thank you" to guests on my Ask the Expert Salon teleseminars , donated it to charity auctions, and given it to different businesses to have in their waiting rooms.
I recommend that my success coaching clients set a goal to give away 100 copies of their information product. It's tangible, valuable marketing that costs little and pays off big time.
Strategy 3: Bundle your product with other services. Once you have an information product, you can use it as a bonus to another service, or you can make owning it a prerequisite for your high-priced workshop (see 4 below.) Either way, you're leveraging your product to help sell more expensive services.
Strategy 4: Create a signature workshop or training program around your information product. Just because someone buys your product doesn't mean that's all they want. In fact, statistically, you'll have an easier time selling your more expensive workshops or programs to existing clients than to strangers.
For example: my book, Brilliance Unbridled, nearly paid for itself in the first three months of publication. Success coaching clients began signing up for both private and group HorseWise Brilliance Unbridled -- just from reading the book.
Strategy 5: Get others to include your product in THEIR training, product, or service. A few years ago, my Marketing Makeover Kit was included in a training program for interior re-designers. The training organization purchased copies in bulk from me every couple of months.
I passed this business coaching tip to a colleague who immediately implemented this strategy. Now her eBook is included in the new-student package for a monthly training program. Not only is she making money on the sale of ten copies of her eBook each month, she's been asked to speak at an upcoming training event.
Did you notice that none of my top five strategies included selling your information product? Of course, selling your product is an excellent way of bringing in the bucks, but I wanted to prove how lucrative an information product is, even before you sell your first copy!
About The Author: Award winning small business expert Kendall SummerHawk is the "Horse Whisperer for Business." Kendall delivers simple ways entrepreneurs can brand, package and price their services to quickly move away from "dollars-for-hours work" and create more money, time, and freedom in their businesses. For free articles, free resources and to sign up for her free audio mini-seminar "7 Quick and Simple Tips to Brand, Package and Price Your Services for More Money, Time and Freedom in Your Business" visit www.KendallSummerHawk.com
Source: http://www.weeklytips.com
Becoming a Solo Entrepreneur: 10 Essential Tips
Becoming a Solo Entrepreneur: 10 Essential Tips
1. Do What You LOVE: If you've chosen your business because you read that this niche was the next hot one, or because your favorite uncle (or your best friend) thinks you'd be well-suited for this business, you may as well pack up now and save yourself some time and money.
If you don't love what you do, it will show...potential customers will know it and will go elsewhere. Is it possible to be successful anyway? Sure -- but it won't be easy and it won't be fun...and isn't that why you want to be self employed anyway?
Instead, choose what you love. You'll know what that is when you find yourself being incredibly productive, forgetting the time passing by, and not being able to wait to get up in the morning to do more!
2. WRITE DOWN Your Business Plan: As a solo entrepreneur, you still need a business plan. Even if you aren't getting a loan!
Would you invest thousands of dollars of your own money buying stock in a company that didn't have a written prospectus? (I hope not!) Then why would you spend thousands of dollars AND hours of your precious time on a business that doesn't have a written plan?
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
Write your plan, get it critiqued by self employment professionals, and most importantly, BE READY TO CHANGE IT. This may seem counterintuitive...why bother writing it down if it's just going to change?
Because writing it down makes it more clear...and helps you get to the next stage of learning and planning and revising. It's critical--67% of businesses that failed in one study had no written business plan. Want to play the odds?
3. Multiply Your Expected Startup Costs by Two--or Maybe Three: When I started my business, an honors MBA grad with 15 years of solid business experience behind me, I figured I was smart enough to estimate my startup costs accurately.
I knew all the things I needed and made conservative estimates and I was still WRONG! That's right, I was still off by a factor of almost three. Don't make this mistake!
One of the biggest reasons solo business owners fail is because of lack of capital. Give yourself the best possible start by saving or acquiring sufficient startup funds NOW. Before you start!
4. Make Your Market Niche as Small as Possible: Again, this is counterintuitive--shouldn't you try to appeal to as many people as possible? The paradox is that the more you try to appeal to EVERYONE, the less you will appeal to ANYONE.
Let's say you are selling your house...would you rather list it with the agent who operates in 14 counties, sells both commercial and residential real estate, and sells everything from cottages to estates?
Or would you pick the agent who specializes in your community, selling only houses in a well-defined price range that she knows extremely well? Ruthlessly define your niche, make it as small as possible, and stay true to it. You'll thank me later!
5. Do Marketing Your Way: The temptation is to choose all the marketing methods that the competition uses.
To stay with tried-and-true marketing channels. To place advertisements that you know nothing about creating, or make cold calls that give you heartburn. Why? Because (all together now) "That's how it's always been done".
It's difficult to stand out among your competitors when you are doing the same kind of marketing! So instead, look to your strengths. What do you like to do? What are you good at? Then choose three marketing methods that play to those strengths. (If you need ideas, check out 136 Ways to Market Your Solo Business.)
6. Remember the Most Important Ingredient in Your Business--YOU: Self employed business owner: Know thyself.
Spend some time shedding the layers of corporate "I-want-to-fit-in-and-succeed"-ness and spend learning about who you are, what you really value and how you are unique. Then let that uniqueness shine through in your marketing, in how you run your business, in everything you do. Don't hide your quirks--celebrate them!
Customers go to self-employed business owners primarily because they are looking for a personalized experience. They want a relationship with you as the owner of your business.
If you try to pretend to be bigger than you are, because you think that's what they want, they'll smell right through that and not come back. Be who you are, and trust that who YOU are is going to be attractive to the right people.
7. Build Your Business by Building Relationships: Being self-employed isn't about sitting in the corner alone. Actually it can be--and that isolation is what drives many out of self employment and back into a "job".
Build relationships to survive! Start with your colleagues--others you know who are at the same stage of business as you, or are farther along and willing to mentor you.
Next, build relationships with potential customers. Ask them what they want! Then create products and services based on their input and come back and show them what you have done. Get feedback, tweak, and maybe make your first sale. Stay in touch with your customers even after they leave you.
Last but not least, build relationships with your competitors. You might be able to do this right at the beginning, simply by asking them for their advice.
Surprisingly, many ARE willing to share their secrets if you just ask. Later on, build cross-referral relationships, co-marketing alliances, and other relationships that are win-win for you, your competitors, and your customers.
8. Don't Accept a Customer Just For the Money: This is probably the hardest advice for new self employed business owners to apply. Especially when there is a job, a project, a potential client, just outside your niche, that could keep your business solvent for the next six months.
Don't do it! Taking on a client outside your niche inevitably results in frustration for you, dissatisfaction on the part of the client, and in the end, usually costs you more than you make. Ask any successful solo business owner and they'll tell you this is true!
9. Don't Do Everything Yourself: It's so tempting to fall into the self-deception that "it's cheaper for me to do it myself". IT'S NOT!
If you aren't good at something, for instance bookkeeping, it will probably take you 2-3 times as long to do--time you could be spending doing things that are essential for you to be doing personally, like writing your business plan or deciding your marketing strategy.
Put sufficient capital into your solo business upfront so you CAN hire help right from the start. You will get off to a quicker start because you aren't distracted by time-consuming tasks that drain your energy.
10. Assemble Your Support Team: Start with the people who will help you do the things you aren't good at. Some examples: administrative assistant, bookkeeper, marketing writer, web designer.
Then add the people who give you professional business advice: a lawyer, an accountant, a self employment business coach. Finally, include the people who support you personally: your family, friends, and colleagues.
Don't forget to be part of other's support teams, too. Share your expertise with other self employed newbies, start a networking group where solo business owners support each other, share a referral with a colleague. Solo Entrepreneurs supporting other Solo Entrepreneurs is what will make us all successful!
About The Author: Terri Z is The Solo-CEO: a self-employed internet marketing consultant to solo entrepreneurs, freelance writer, and grassroots promoter of the "solo entrepreneur lifestyle". She runs www.Solo-E.com, the resource website for solo entrepreneurs which attracts thousands of visitors monthly from over 100 countries on six continents (and was named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.
Source: http://www.weeklytips.com
1. Do What You LOVE: If you've chosen your business because you read that this niche was the next hot one, or because your favorite uncle (or your best friend) thinks you'd be well-suited for this business, you may as well pack up now and save yourself some time and money.
If you don't love what you do, it will show...potential customers will know it and will go elsewhere. Is it possible to be successful anyway? Sure -- but it won't be easy and it won't be fun...and isn't that why you want to be self employed anyway?
Instead, choose what you love. You'll know what that is when you find yourself being incredibly productive, forgetting the time passing by, and not being able to wait to get up in the morning to do more!
2. WRITE DOWN Your Business Plan: As a solo entrepreneur, you still need a business plan. Even if you aren't getting a loan!
Would you invest thousands of dollars of your own money buying stock in a company that didn't have a written prospectus? (I hope not!) Then why would you spend thousands of dollars AND hours of your precious time on a business that doesn't have a written plan?
Stephanie Chandler
10 Ways to Sabotage Your Website and Send Visitors Packing
Stone Evans
Advertising Your Home Business On A Budget
Kendall Summerhawk
5 Marketing Strategies On Using Information Products to Make More Money
Terri Zwierzynski
Becoming a Solo Entrepreneur: 10 Essential Tips
Chase Quinn
Editor's Note
Write your plan, get it critiqued by self employment professionals, and most importantly, BE READY TO CHANGE IT. This may seem counterintuitive...why bother writing it down if it's just going to change?
Because writing it down makes it more clear...and helps you get to the next stage of learning and planning and revising. It's critical--67% of businesses that failed in one study had no written business plan. Want to play the odds?
3. Multiply Your Expected Startup Costs by Two--or Maybe Three: When I started my business, an honors MBA grad with 15 years of solid business experience behind me, I figured I was smart enough to estimate my startup costs accurately.
I knew all the things I needed and made conservative estimates and I was still WRONG! That's right, I was still off by a factor of almost three. Don't make this mistake!
One of the biggest reasons solo business owners fail is because of lack of capital. Give yourself the best possible start by saving or acquiring sufficient startup funds NOW. Before you start!
4. Make Your Market Niche as Small as Possible: Again, this is counterintuitive--shouldn't you try to appeal to as many people as possible? The paradox is that the more you try to appeal to EVERYONE, the less you will appeal to ANYONE.
Let's say you are selling your house...would you rather list it with the agent who operates in 14 counties, sells both commercial and residential real estate, and sells everything from cottages to estates?
Or would you pick the agent who specializes in your community, selling only houses in a well-defined price range that she knows extremely well? Ruthlessly define your niche, make it as small as possible, and stay true to it. You'll thank me later!
5. Do Marketing Your Way: The temptation is to choose all the marketing methods that the competition uses.
To stay with tried-and-true marketing channels. To place advertisements that you know nothing about creating, or make cold calls that give you heartburn. Why? Because (all together now) "That's how it's always been done".
It's difficult to stand out among your competitors when you are doing the same kind of marketing! So instead, look to your strengths. What do you like to do? What are you good at? Then choose three marketing methods that play to those strengths. (If you need ideas, check out 136 Ways to Market Your Solo Business.)
6. Remember the Most Important Ingredient in Your Business--YOU: Self employed business owner: Know thyself.
Spend some time shedding the layers of corporate "I-want-to-fit-in-and-succeed"-ness and spend learning about who you are, what you really value and how you are unique. Then let that uniqueness shine through in your marketing, in how you run your business, in everything you do. Don't hide your quirks--celebrate them!
Customers go to self-employed business owners primarily because they are looking for a personalized experience. They want a relationship with you as the owner of your business.
If you try to pretend to be bigger than you are, because you think that's what they want, they'll smell right through that and not come back. Be who you are, and trust that who YOU are is going to be attractive to the right people.
7. Build Your Business by Building Relationships: Being self-employed isn't about sitting in the corner alone. Actually it can be--and that isolation is what drives many out of self employment and back into a "job".
Build relationships to survive! Start with your colleagues--others you know who are at the same stage of business as you, or are farther along and willing to mentor you.
Next, build relationships with potential customers. Ask them what they want! Then create products and services based on their input and come back and show them what you have done. Get feedback, tweak, and maybe make your first sale. Stay in touch with your customers even after they leave you.
Last but not least, build relationships with your competitors. You might be able to do this right at the beginning, simply by asking them for their advice.
Surprisingly, many ARE willing to share their secrets if you just ask. Later on, build cross-referral relationships, co-marketing alliances, and other relationships that are win-win for you, your competitors, and your customers.
8. Don't Accept a Customer Just For the Money: This is probably the hardest advice for new self employed business owners to apply. Especially when there is a job, a project, a potential client, just outside your niche, that could keep your business solvent for the next six months.
Don't do it! Taking on a client outside your niche inevitably results in frustration for you, dissatisfaction on the part of the client, and in the end, usually costs you more than you make. Ask any successful solo business owner and they'll tell you this is true!
9. Don't Do Everything Yourself: It's so tempting to fall into the self-deception that "it's cheaper for me to do it myself". IT'S NOT!
If you aren't good at something, for instance bookkeeping, it will probably take you 2-3 times as long to do--time you could be spending doing things that are essential for you to be doing personally, like writing your business plan or deciding your marketing strategy.
Put sufficient capital into your solo business upfront so you CAN hire help right from the start. You will get off to a quicker start because you aren't distracted by time-consuming tasks that drain your energy.
10. Assemble Your Support Team: Start with the people who will help you do the things you aren't good at. Some examples: administrative assistant, bookkeeper, marketing writer, web designer.
Then add the people who give you professional business advice: a lawyer, an accountant, a self employment business coach. Finally, include the people who support you personally: your family, friends, and colleagues.
Don't forget to be part of other's support teams, too. Share your expertise with other self employed newbies, start a networking group where solo business owners support each other, share a referral with a colleague. Solo Entrepreneurs supporting other Solo Entrepreneurs is what will make us all successful!
About The Author: Terri Z is The Solo-CEO: a self-employed internet marketing consultant to solo entrepreneurs, freelance writer, and grassroots promoter of the "solo entrepreneur lifestyle". She runs www.Solo-E.com, the resource website for solo entrepreneurs which attracts thousands of visitors monthly from over 100 countries on six continents (and was named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.
Source: http://www.weeklytips.com
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