Effective Marketing Strategies in Product Creation

Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.

If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.

Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.

For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.

No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.

There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.

Top Small Business Owners Payday Question – How Do I Pay Myself?

Business owners are hard-working and dedicated. They put in probably sixty plus hours a week. It is natural that they want to get paid for their time that they pour into their small business. Unfortunately, if it is a new start-up company, it probably isn’t making enough income yet to see a payday. If the business has been in operation for a while though, the bank balance might be increasing each month as profits start to accumulate.

So, how do business owners get paid? Are they considered employees?

Well, the answer to the question above is – it depends. Clear as mud, right?

It all depends on how the small business is legally setup and recognized by the Internal Revenue Service. Most businesses that are relatively new are small enough that they are operating as sole proprietors or as a partner in a partnership. That means that they haven’t incorporated under state law.

There is good and bad news when a small business is operating as a sole proprietor or a partner:

The good news is that payday for the business owner can be any day they feel like paying themselves as long as there is enough money in the bank. They just simply write themselves a check. They aren’t considered an “employee”, because they are a “one-man-show” running the business. The Internal Revenue Service sees the owner and the small business as one entity.

The bad news is that they are not recognized as an employee and no federal taxes are being withheld from their pay. So when April 15th comes around and it is time to file the income tax return, the owner may owe quite a bit of self-employment tax on the profits of the business. That is why owners should pay quarterly self-employment taxes throughout the year if they think they are going to owe at least $400 or more in tax.
If the small business is recognized as a corporation or S corporation, it needs to set the owner up as an employee of the company and pay them a set salary or wage that is similar to what other organizations pay a person with the same skills. Payroll taxes will be withheld from the owner’s pay just like any other employee.

As an S corporation, the owner can also make draws or distributions if the business is making a profit, but no tax is withheld from these payments and it is best to talk with a tax advisor before doing so. There are limitations as to the amounts that can be taken out of the business account in this manner.

Hopefully this has answered the question of “How do I pay myself?” It can be tricky determining what the rules are regarding paying the owner of a small business. Consulting with a Certified Public Accountant is always a wise decision when setting up procedures for the organization.

MLM Home Based Business Failure – Why Did it Happen to Cynthia’s Business?

It was 3:00 AM. The bills were late, creditors were starting to call on a regular basis, and Cynthia was struggling to hold back tears as she realized there was not enough in the bank to pay her bills.

How had this happened? She swore this would never happen to her. Yet, the numbers didn’t lie. She was on the verge of a financial collapse.

In the midst of her tears, she considered her options. She went online and read about an MLM home based business. As she learned more, hope started to return. She heard story after story of people who were where she was only a few years ago. Today, they have more money than they ever dreamed.

The same future was promised to her if she joined now. Feeling she had found the pot of gold at the end of the rainbow, she whipped out her one remaining credit card and signed up.

Her excitement peeked when her supplies arrived, but that is also where things started to change.

She went to two of her friends and did everything she could to sell them on her MLM home based business. She talked and talked and talked. After 45 minutes of non-stop yapping, they both said they thought she was stupid for even trying.

Discouraged, she talked to only a few other people she knew with little success. Within two weeks of getting started, she was not any better financially and she had no one else on her list to talk to.

Several weeks went by where Cynthia did nothing. Not because she didn’t want to, but because she had no one to talk to. As time continued to go by, she began to feel like she had been scammed. After all, she had been promised a life of financial abundance. Instead, all she had was more debt.

Unable to bear it any longer, she quit her MLM home based business and gave up on her dreams.

A number of months went by. Cynthia’s finances were falling apart. Most of her accounts were in collections, threats of legal action were now a part of daily life, and she knew that soon she would have no choice but to file for bankruptcy.

Her stress could be seen on her face by almost everyone who saw her. Most tried to politely look away. However, one day, a man named Mark did not. “What’s wrong,” Mark asked.

“I have more bills to pay then money coming in. Soon I’ll be bankrupt and there’s nothing I can do about it,” Cynthia said. After that, she started going into details in an attempt to justify her situation.

Mark stopped her and asked, “Have you considered an MLM home based business?”

“No one ever makes any money in those,” said Cynthia.

“Who told you that?”

“Do you know of anyone who has made money in an MLM home based business?”

“Well, yea.”

“Who?”

“Me. A few years ago I was in the same place you are. Today I make more money than I ever dreamed and I get paid even if I don’t work.”

“How can that be? I actually tried an MLM home based business and lost every dime I invested. How is it you made money where I failed?”

How many people did you talk to?”

“Well, everyone I know I think. I guess it was about 15 people.”

“15 people? That’s it? I know why it didn’t work for you. You need to talk to a lot more than 15 people.”

“But I don’t know any more people than that. What else can I do?”

“Look, there are 300 million people in America. You talked to 15. Do you think that some of the other 299,999,985 people might have an interest?”

“Well, I guess, but what am I supposed to do? I’m not going to stand on the street corner and beg people to look at my business. That will turn people off who might actually be interested.”

“Advertise.”

“Advertise? Isn’t it expensive to run TV commercials and radio ads?”

“Yes, but that’s not the only way to do it.”

“What do you mean?”

“Well, let me ask you, how did you find out about the MLM home based business that you joined?”

“I went on the internet and did a search.”

“Exactly! What if all the people who did a search, like you did, found you? Do you think that could change your results?”

“Well, yes, but don’t you need a lot of money to make that happen?”

“I didn’t. Look, I was right where you are now. My finances were coming apart and I had already failed at multiple MLM home bases businesses. I swore I would never do another one when I met someone who told me about internet marketing.

“He mentored me and taught me everything I needed to know to market on the internet. All the things I learned cost me no money, were very effective, and could be done from the comfort of my home. Therefore, no running around town putting out flyers at $4 per gallon for fuel.

“Suddenly I found myself having people contacting me wanting to learn more and start an MLM home based business with me. It changed everything for my business and my life in general. I now get to spend all day with my family,” said Mark.

“So you’re saying that if I learn how to market on the internet, I can have people all over the country calling me? People who want to go into business with me?”

“That’s right.”

“How can I learn how to do this?”

“Well, if you’re willing to dream again, I’ll be more than happy to teach you everything I know about marketing an MLM home based business on the internet.”

That was the day Cynthia’s life changed. Within a few months, she had people calling her left and right wanting to join her in her MLM home based business. She found that so many were calling, she could not help but have success.

As the money rolled in, her life improved. Not only did she get her bills caught up, most were paid off in under a year. She was able to take her dream vacation to Europe. All of this happened not because she started an MLM home based business, but because she learned how to market an MLM home based business on the internet.