Home based business opportunities are growing daily, along with a new spirit of entrepreneurialism and independence. Today’s technology is making is making working from home far more common today than just a decade ago. Through the general consensus is that more people are working from their homes than ever, finding solid data to prove this can be difficult.Because things change so quickly, much of the data, collected two to four years ago may be inaccurate.The latest statistics from the U.S. Department of Labor are from 2004, but already show a growing trend for men and women working primarily at home. In that year 20.7 million people worked, at least part-time, from their homes most working for another company. About 7 million of those were self-employed as home based business owners. The average work week for someone working at home, according to the study, was 25 hours, and most were professionals, such as people who offered consulting services or sales related businesses. Another huge chunk of the at-home pie are those working in the construction industry.Though the general belief may be that women far outnumber men working at home, this is not the case. Men and women were about equally likely to work out of their home, and there are more parents working at home then singles.According to the Labor Department, home based business are operated by educated individuals. Individuals with a bachelor’s degree or higher were more than 6 times as likely to work out of their homes than those without a college degree. This maybe because it is easier for someone with a management background to transition to a work-at-home job. It may also be easier for someone with a background in computers or web design to operate a small business from home.This trend of working at home is partly due to advances in electronics. Most homes have computers with high-speed Internet connections. Most people have the basic computer skills to put together a rudimentary website. There are even software packages available with some computers that will build your website with just a few clicks of a mouse or keyboard. Information and resources are readily available for individuals looking to start a home based business. It is becoming more and more acceptable in main stream business to work from home at least part time if not full time.The Small Business Administration estimates that 52 percent of all small businesses are home based, and small businesses (those with less than 500 employees) represents 99.7 percent of all employers. Due to lower expenses, particularly in rent and labor costs, the average home based sole proprietor consistently gained a higher return on gross revenue at 36 percent, versus 21 percent for the traditional business model.Statistics from the NBBTA.org, the online division of the National Black Business Trade Association, show that home based business represents a $427 billion industry. This number exceeds the pharmaceutical, food and consumer good industries combined.While getting accurate reports on home base businesses is difficult, one thing remains obvious. Home based businesses, in one area of the U.S.economy that will continue to grow. This is especially true during an economic downturn where traditional jobs are more difficult to find.
Top Tips for Marketing Your Home Based Business
Starting a home based business is not a very difficult proposition but what matters most is marketing your business if you want to succeed in a competitive environment. Marketing is an ongoing process and you should ensure that your home based business and your image is in the limelight all the time.No business can succeed unless you create sufficient awareness and get people talking about your product and services. The strategies given below will help you in your endeavor to succeed.1. Word of mouth is one of the best forms of promoting your business. As soon as you start working from home, pass the word round to your friends, colleagues and acquaintances about your new business and the quality products you offer. This news will spread around the community much faster than you ever dreamt about. Jeff Bezos the founder of Amazon places great emphasis on this-”If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”2. However small your home business might be an online presence is essential today. It is important that you have a professional looking website for your business. A well designed website will make your business appear big, professional and organized. Having a website has several advantages such as free advertisement for your products, informing customers about changes in products, information about specials, promotions and discounts available.3. Put the URL of your website, your home based business address and your telephone number on all printed matter that goes out of your business such as letters, envelopes, labels, faxes and invoices. This is an easy way of advertising your business and keeping your image in the public eye constantly.4. Advertising in the local media can play a vital role in promoting your home business. Small classified ads do not cost much money. These ads will certainly create awareness about your business in the local community. Send out regular press releases. Get the local press interested in your home based business and get them to write a news story how it benefits the local community. This will without doubt give your business a great boost. If you have the necessary funds, marketing your products through the radio can be even more effective.5. An inexpensive method of marketing your work at home business is by distributing Flyers. Flyers are easy to produce and in fact can be produced by you in your computer.Provide all the details of your business in brief including the address and URL. Similarly attractive and well designed Brochures are great marketing tools. These can be prepared and placed in clubs, libraries and supermarkets where people gather.6. One of the best marketing tools often ignored or overlooked by most new business entrepreneurs is the Business Card. A business card projects your image and credibility. Whenever you meet people at seminars, trade fairs, conferences and other functions, take the opportunity to exchange cards with them. They are influential people who can be very useful in promoting your business in several ways.Marketing your home based business has to be viewed in the right perspective and your success will be greatly dependent on how efficiently you handle this most important aspect of your business.
Considerable Factors Involved in Product Creation & Marketing
The niche you have chosen should allow creation of more than one product or service. 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 need to worry about spending time on the real products sold to the customer. The main ones are keyword selection, sales copy principles, graphics, affiliate programs, product creation, online payment processing, auto responders, and search engine optimization.
Once you’ve earned money from this type of information product business, you can invest in the creation of your own products if you want, or start offering more informational products that allow you to sell your knowledge. But the creation and production costs of a similar big ticket in sequence product, although higher, are still pretty low. A key by-product of this process will be the creation of 3-D, Computer Assisted Design art.
The Association for Financial Professionals permits the following activities for repatriating funds: Research and Development activities, advertising and marketing programs, hiring and training new recruits, acquiring patent and other rights to intangible property, improving transportation, funding capital investments with the purpose of job creation and job retention & funding product responsibility or environmental claims.
It prohibits certain activities like: Tax payments, Payment of executive recompense, Payment of dividends, Redemption of stocks, Debt investments and Portfolio investments. Therefore, before repatriating the money, you must consider whether it is worth or not.
Checklist on what artist and product development necessitate includes: Exceptional vocals, musicianship and/or songwriting skills, Continued education and enhancement of musical skills, Quality equipment, Performance ability, Image creation and maintenance, Plan of action, goal setting, excellent promotion materials including photographs, press releases and artwork, Business management skills, Marketing, Publicity and Promotion knowledge, Online and Offline Professional management, Basic knowledge of recording, producing, engineering, and mastering, Basic knowledge of manufacturing, distribution, and sales online, brick and mortar and air-play, Good choices in members, staff and advisors, Physical and mental preparedness, Basic knowledge of finances, accounting Law and legal issues etc.
The goals for doing so are for the product owner to: Communicate the whole, Determine and communicate when releases are needed, Determine what functionality is sufficient for each release & focus on business value derived from the releases. The delivery team on the other hand will see the whole, learn about the steps to realize the vision, learn the business priorities, provide technical input to the roadmap and provide estimates for the projected features. The salesperson must lead the prospect through the various decision criteria needed in order to secure a sale. Whether your idea is the development of a product, launch of a service business, or even the creation of an event or program for a non-profit, creativity is the root of all entrepreneurial efforts starting with the vision itself.
People quickly learn to spend their time on marketing and product creation, rather than repetitive tasks. Apart from empowering companies and individuals, there should be a particular focus on identifying labor intensive businesses that have the potential to make a significant and positive impact on employment creation as well as those businesses that have a product or service offering for export markets with the final objective of booming local economies.