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Digg it UP - One Product - Service - Client Does NOT Make A Business
The Internet is a perfect place for you to start your own small business. It requires little capital, you have 24/7 coverage, a worldwide market and other positive aspects. When you want to start your small business online, you have to think of the various things you need to do first.Know What You Want To DoFind an online business system that suits you. If you are selling your own physical products, find a place where you can sell them, for example at Internet auction sites such as eBay or Yahoo!Auctions. There are millions of products currently list
An undoable plan!
The answers to her dilemma were the strategies one-person business owners need to consider for themselves. What kind of multipliers can you implement so you can provide for yourself in a manner to which you would like to become accustomed, and at the same time provide quality products and services to your target market.
Start with a c
If you are opening a dollar store you will soon find that there are many little activities that must be routinely completed. Among those items is the need to complete routine store maintenance. While this is little fun to do it is important to the success of your business. In fact weekly store inspection and maintenance should be performed as a matter of practice.If you are opening a dollar store a good strategy might be to implement a weekly store maintenance checklist. That checklist could list the areas for routine inspection. It could also list the are
This talented and skilled professional was on a slippery slope to a failed business. She was using one of the most enticing and dangerous models for the direction of her business: Offering just one service to just one market.
One service, one big client, one product, does not make a one-person business that can thrive. And, it can get you in hot water if your one client with your one product or service is corporate: you start to look too much like an employee to keep the IRS happy.
So, what's the answer? For this new client, my first question was "Have you done the numbers?"
Her blank look was enough of an answer. So, we walked through the numbers process:
how many contacts she needed to generate a lead
how many leads to make a sale
how long the sales process took in both hours and days
how much it cost out of pocket to develop a paying customer
how long to deliver the service
how much she needed to sell to cover her expenses, to generate enough to get by, and provide a quality life for herself, and
how long before the customer was ready for the next service session.
The answer to her problems was very clear. She needed to sell six new clients a week to get by in order to pay her bare living expenses. But, it took significantly more time than 40 hours per week to generate the leads, close the sales, and deliver the service. More like 80 hours per week.
She had also not taken into account the amount of money her marketing and sales was taking, as well as the money needed to produce the service. So, although her target was 6 sales a week, she really needed to make at least 7 to cover both the costs of production, and the money she needed to cover her living expenses.
An undoable plan!
The answers to her dilemma were the strategies one-person business owners need to consider for themselves. What kind of multipliers can you implement so you can provide for yourself in a manner to which you would like to become accustomed, and at the same time provide quality products and services to your target market.
Start with a co
You are excited, it's a new business day! You glance at your business plan on the pin board in front of you. A shiver of excitement races up your spine as you think of your business potential. Just 8 hours a day on this plan will mean a better life for you and your family, all within 2 years. Then the phone rings…It's a customer! They are enquiring about that widget they bought from you yesterday.Will it do x and y?So you explain that it will do x and y. And because you are focused on providing the ultimate customer service, you talk them thro
One service, one big client, one product, does not make a one-person business that can thrive. And, it can get you in hot water if your one client with your one product or service is corporate: you start to look too much like an employee to keep the IRS happy.
So, what's the answer? For this new client, my first question was "Have you done the numbers?"
Her blank look was enough of an answer. So, we walked through the numbers process:
how many contacts she needed to generate a lead
how many leads to make a sale
how long the sales process took in both hours and days
how much it cost out of pocket to develop a paying customer
how long to deliver the service
how much she needed to sell to cover her expenses, to generate enough to get by, and provide a quality life for herself, and
how long before the customer was ready for the next service session.
The answer to her problems was very clear. She needed to sell six new clients a week to get by in order to pay her bare living expenses. But, it took significantly more time than 40 hours per week to generate the leads, close the sales, and deliver the service. More like 80 hours per week.
She had also not taken into account the amount of money her marketing and sales was taking, as well as the money needed to produce the service. So, although her target was 6 sales a week, she really needed to make at least 7 to cover both the costs of production, and the money she needed to cover her living expenses.
An undoable plan!
The answers to her dilemma were the strategies one-person business owners need to consider for themselves. What kind of multipliers can you implement so you can provide for yourself in a manner to which you would like to become accustomed, and at the same time provide quality products and services to your target market.
Start with a c
Every company needs a product to sell. It is also the same with internet home business. You need a product to start up a home based business and start to work from home. I categorized three different type of product.1. Digital Product. It is very easy to build and very popular among the Internet. We don’t have to keep product stock. We only have to create or pay someone else to create our product. Some product that we can describe in computer related product are e-book, software, picture, movie, song, audio, and web related product (web hosting, script, do
how many contacts she needed to generate a lead
how many leads to make a sale
how long the sales process took in both hours and days
how much it cost out of pocket to develop a paying customer
how long to deliver the service
how much she needed to sell to cover her expenses, to generate enough to get by, and provide a quality life for herself, and
how long before the customer was ready for the next service session.
The answer to her problems was very clear. She needed to sell six new clients a week to get by in order to pay her bare living expenses. But, it took significantly more time than 40 hours per week to generate the leads, close the sales, and deliver the service. More like 80 hours per week.
She had also not taken into account the amount of money her marketing and sales was taking, as well as the money needed to produce the service. So, although her target was 6 sales a week, she really needed to make at least 7 to cover both the costs of production, and the money she needed to cover her living expenses.
An undoable plan!
The answers to her dilemma were the strategies one-person business owners need to consider for themselves. What kind of multipliers can you implement so you can provide for yourself in a manner to which you would like to become accustomed, and at the same time provide quality products and services to your target market.
Start with a c
Do not be fooled by those who CLAIM to provide you with 10,000, 20,000, 200,000 or even 250,000 text links.You are being conned, what they are offering you are comment links posted on blogs and directories.These are regarded as comment spamming, i,e there is no contextual advertising associated with it.Just random posts with your link tagged to the username, no benefit to any real person viewing the comment, just a trick to fool search engines.What they won't tell you is the majority of blogg
The answer to her problems was very clear. She needed to sell six new clients a week to get by in order to pay her bare living expenses. But, it took significantly more time than 40 hours per week to generate the leads, close the sales, and deliver the service. More like 80 hours per week.
She had also not taken into account the amount of money her marketing and sales was taking, as well as the money needed to produce the service. So, although her target was 6 sales a week, she really needed to make at least 7 to cover both the costs of production, and the money she needed to cover her living expenses.
An undoable plan!
The answers to her dilemma were the strategies one-person business owners need to consider for themselves. What kind of multipliers can you implement so you can provide for yourself in a manner to which you would like to become accustomed, and at the same time provide quality products and services to your target market.
Start with a c
If you think hurdling the job interview had been tough, wait until it's time to give executive gifts. Selecting executive gifts can be a terrifying and time-consuming process, particularly because this is a time for confusion and self-doubt. What in the world can you buy for the boss who has everything? Or for the officemate whose cubicle is right next to yours? What do you give to that special client whose single real estate purchase helped you meet the downpayment for your new car?The most useful thing to remember in choosing executive gifts is to conside
An undoable plan!
The answers to her dilemma were the strategies one-person business owners need to consider for themselves. What kind of multipliers can you implement so you can provide for yourself in a manner to which you would like to become accustomed, and at the same time provide quality products and services to your target market.
Start with a commitment to yourself that you will never again have just one service or product for one market. Aim for at least 3 service/product offerings in 2 - 3 markets. (I know when you are just starting out, it is hard to develop all three at the same time. Just make sure it is in your plan, and then work your plan.)
Devote your next executive meeting with yourself to reviewing your product/service packages. Look for ways you can multiply your efforts, or transfer your current offerings to another market. Ask yourself:
Is it time to make one of your service packages into a stand alone product you can make once and sell, sell, sell? Consider ebooks, workbooks, resource guides, quick start guides to using a product or service. Plus with add on's, hard to source supplies, and specific tools.
Can you bundle stand alone, or individual services into an ongoing coaching, consulting retainer agreement with your existing or new clients?
Can you service a number of clients at the same time? They can get the benefit of learning from one another, and lower individual fees while still increasing your total income/time. Consider teleseminars, group coaching, group counseling or therapy, seminars, workshops or training classes.
You can also look at unserved potential clients in the work you are already doing. Many professional speakers develop products or services so their audience members can take a part of the speaker home with them, or continue learning more than what was possible in one presentation. Consider what you could offer the executives who make the decisions to hire you. Or, additional products or services for meeting planners. This means you have three different potential client bases all in the room with you when you are presenting. Do you leave them wanting more...or do you have products and services just for them?
Bottom line-one product, service, or client doesn't make a viable one-person business. Make a commitment to yourself to build a stronger, more profi
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