January, 2010

Home Internet Businesses — Comments Off
30
Jan 10

What can Apple’s secrets teach home Internet businesses?

Hi welcome back, glad you found the Blog interesting enough to come back, if you subscribed to my RSS that way you will get told when I post straight away. Andrew Peel

This post explores the whether the secret’s of Apple’s success can apply to home Internet businesses? The answer is ‘yes’.

The best home Internet businesses know the secrets as well

The success of Apple can be summed up in three words; style, innovation and reliability. If you actually look at the best home Internet businesses they have learned similar lessons. How do these factors, or ’secrets’ make a difference?

  • Style – Apple’s products have a strong focus on style or presentation. If you think back to the first MP3 players they were small, USB drive like and had a tiny LED screen. Then came the iPod™, something doing the same job but it had style and looked desirable.Apple’s product launch presentations are now actually studied as best practice. I read an article which said that Steve Jobs was so good at presentations he had ‘earned’ the right as a CEO to wear a black casual shirt and jeans. Can you think of another CEO, apart from possibly Richard Branson, who would do a presentation dressed like he was going for a walk in the park?
  • Innovation – What is the benefit of the product to your niche market? How far does the product meet or exceed those expectations?
  • Reliability – Apple ensures the reliability by releasing the backup systems needed to get the best out of them, iTunes™ and iPod™ working together seamlessly and with little technical ‘know how’.

Translating this into ideas for a Internet home business you can use them to improve your brand, because people enter into business with you. Social experiments have shown that people unconsciously prefer to associate with people and companies that demonstrate the above characteristics.

  • Presentation – Think about who your ideal business associate would be and tailor your all your online presentation to that imaginary person.
  • Innovation – You must have a passion for your product or service and believe it meets a unmet need or improves upon what already exists.
  • Reliability – This is about the systems that back up your business opportunity. If you leave it to the person to develop their own and you have a team of say 5 people, means you have to support 5 different systems. So having a business opportunity with a duplicatable system is definitely a plus. You only have one system to learn and support your business associates on.

So there is much the home business entrepreneur can take from Apple’s secrets to success and translate into their daily work.

Andrew Peel

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Home Internet Businesses — Comments Off
29
Jan 10

Home Internet Businesses:Can Computer Jobs At Home Be Too Cheap?

The range of ideas for home Internet businesses is considerable. They range from eBay stores, through affiliate marketing, MLM, network marketing to top-tier direct sales. There are also offline home businesses where you are a representative taking order and delivering and selling the products.

At what cost a work at home Internet job?

Your work at home Internet job comes at a cost. That cost will come in three forms:

  • Time
  • Effort
  • Money

You should be looking for the best home based Internet business for your circumstances. Your circumstances are dependent upon the amount the three things mentioned above that you have. So if you have more time than money, you will be able to use the free marketing techniques instead of paid techniques.

However consider the effect of these factors on the type of home Internet business you will join? You need to factor them into how you evaluate the pillars of your opportunity. The 5 pillars are:

  • Compensation
  • Timing
  • Product
  • Your Sponsor
  • A system you can teach others to use

For example if you join a company that has been around for a long time and failed to innovate it may be low cost to join. However you will probably have an uphill struggle selling the products. So you see there is a cost here, your wasted time.

On the other hand there has been recent company touting the distribution of the latest telecoms handsets via MLM. The only problem was their address turned out to be a vacant car lot in Nevada. Several people have been burned by that opportunity, they jumped too soon.

So as you can see it is possible to be lured by a home Internet business that appears cheap to join, promises much and ends up costing a lot with low return.

Andrew Peel

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Work From Home Careers — Comments Off
28
Jan 10

Work from testimonials power your home careers

Work from home careers rely on trust. It is therefore important that you are able demonstrate trust to potential clients/business associates.

Your work at home job and establishing trust

If you have established a new work from home company you will be looking for clients/business associates.

One of the key things your business associates will be looking for is trust. This is because people go into business with people they know, like and trust.

Getting known is a separate set of posts in itself. Briefly it involves marketing in various forms. If your work from home job involves using a computer then most of this takes place on line. Getting known is the easier part; Twitter is a good way to get known. Twitter is more like dynamic search engine, think of it like Google in ‘real time’. Tweets are being sent all the time on different topics, if you follow people who tweet about your market niche you can get known,

Getting liked is the key to being trusted. A good way to get liked is via social networks.

Work from home careers and getting liked

Some social networks allow people to leave testimonials for you if they like what you have to say, Linkedin has a testimonial exchange system inbuilt, they let you know when someone has left a testimonial and you can reciprocate, ecademy is very similar. People who leave comments on your Blog are also providing testimony. Emails from business associates are also possible sources of testimony (in this case you need their permission to republish).

For social networks you belong to that allow people to publish testimonials then placing them on a separate page on your Blog called Testimonials helps establish trust. Also your involvement in the social networks you join is an indication of if you are liked and trusted.

The psychology of testimonials to your work from home company

The reason testimonials are powerful is their psychological effect. If you were asked to be a business associate with someone with no online reputation and someone with an ongoing online reputation which would you choose? I am guessing you would choose an active person. Visiting a Blog last updated a month ago does little to inspire confidence.

Therefore if you choose Blogging as a marketing platform then take action at least 4 times a week preferably more. People trust people whom other people trust, so trust is your currency in social media marketing. This is why testimonials brought together in one place so people can see them help you so much.

Andrew Peel

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Ways To Earn Extra Money — Comments Off
27
Jan 10

Ways that expectations can earn extra money

The way in which you manage expectations about your home Internet businesses mean you can earn extra money.

When thinking about making extra income think expectations

As someone who is perhaps looking to make money on using your computer, it may at first seem easy. After all when we surf the web we see many advertisements for ‘get rich now’ schemes that require no investment.

When choosing your making money package you need to be aware of the strong effect these types of advertisements have on your behaviour. They are deliberately aimed at making you take a quick decision. In other words they are manipulating your expectations. Social experiments have shown you are more likely to sign up in these cases if you are new to Internet marketing.

The reason is they have raised your expectations, you are also looking to join some business opportunity and this seems ideal. Lots of money for little effort, appears the best route. The problem with this situation is even if you do get the money quickly, you will probably spend it just as fast. In addition you usually have no long term business underneath, because it takes time to develop a real business.

Longer term your aim should be earn extra money at home and move to becoming a business owner. However to do this you need a sustainable business. These take patience, skill, personal development and consistent action over time to build.

If you read biographies of nearly all successful people many were penniless before they were the great successes. They managed their expectations, and the expectations of the people they worked with. They made it clear the route to success is by surrounding yourself with positive people, develop yourself in the skills you need and take action towards your goals every day no matter what.

In conclusion if you expect to fail you will fail, if you expect to succeed the odds are much better you will succeed when combined with the work required.

Andrew Peel

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Home Internet Businesses — Comments Off
26
Jan 10

Home Internet businesses: The secret to the disappearing doors problem

The disappearing doors problem is when you think opportunities you never knew existed will disappear. This post gives some advice on how to manage your opportunities.

A work at home Internet job and the disappearing doors situation

Home Internet businesses come in many types. This can create a problem which was identified by the French philosopher Eric Frohm in 1941. He wrote a book called Escape From Freedom, which I thought seemed a strange title. Why would anyone want to escape from freedom?

However as I have gained experience I can see what Frohm saw all those years ago. The situation we have arrived at in our modern day societies is one of too many opportunities as opposed to too few. We are constantly told of the things we can and should do before we die:

  • 100 places to visit before we die
  • 100 historical sites to visit
  • The next must see film
  • The next must visit restaurant

I am saying these choices are neither inherently good nor bad. Yet we do behave in a completely irrational way when sorting through these choices. This is the disappearing doors scenario. We believe if we choose one choice (door) over another then the other will disappear. So we spread ourselves too thin and try to keep every door open. The end result is we lack focus in all areas of our lives and wonder why we never fully succeed in any one area.

Internet home business ideas and the reality of the doors

Running home Internet businesses means the reality is many options remain open and can be pursued when you have the financial freedom to do so. In order to succeed you have to first limit your choices. Then make the choices that will move you to your goal.

You can look at it like the current aim of NASA to have people on Mars. Their first goal is the Space Station, then inhabitable modules on the Moon and lastly going from the moon to Mars. Each goal achieved changes their options and their ability to take advantage of them.

If your business becomes successful to the point where it becomes your full time occupation then that allows you to take advantage of more options. Achieving that goal you probably sacrificed many of the options you now have available which proved they never really disappeared when you thought they had.

It is only our perception that some options disappear. However some doors really do disappear and it is these you should focus on. If you have a family then remember to put time aside for them as you grow your business. Time lost with your family really is time lost. When you are with your family be with them 100% and forget your business. If you do want to include family in your business then make sure this is ‘business time’.

Andrew Peel

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Home Internet Businesses — Comments Off
22
Jan 10

Home Internet Businesses – So Many Choices

Home Internet businesses create so many choices. How do you decide what to do? This article explains the importance of focus.

Computer jobs at home and the choices you face

One of the things that struck me when I joined my home Internet business was how many choices I faced. I had people ringing me up saying they could get me on page one of Google. I received a large increase in email because people were picking up I had started a business and they had services to offer. Even when I did my own research to get an answer I would face more choices.

Then I did the thing I will advise all people who join me in by business venture is, ’stop dabbling’.

You have already committed to the home internet business idea, now focus and make it work. That is the key, focus. I have just finished listening to a great Podcast from Dr Adam Misner, founder of BNI (with whom I have been a contributing author of a new eBook) and he says, ‘be there, just be there’.

What he means is once you have done your due diligence, as I did, come up with your shortlist then focus on making a choice from that list. Avoid wasting more time because you have heard about another business opportunity because there will always be other opportunities – forever.

The classic work at home Internet job question

The question I see asked by people who have just started a work at home Internet job is – ‘Where do I start?’ Well if you do you due diligence and follow the advice of some successful people you should have picked an opportunity that focuses on your personal development. Only then do you see if the product is a good fit.

So provided you have chosen wisely you should know where to start because their training program should tell you. You start at the beginning of the training and work through it. As you do the training you should identify your strengths and weaknesses. During this time be aware of any irrational thoughts you may have about a particular marketing technique, and then really question if that is true?

The reason we worry so much about choices is because we want to have as many opportunities as possible – ‘just in case’. This is actually a recipe for disaster and in forthcoming posts I will explain why further.

Direct sales is a good business model because you get support from your team. However in the end you have to choose the approaches that you are most comfortable with. If you tried every marketing approach available when you first started you would never, ‘be there’, you would, ‘be all over’. A better approach is to test which approaches suit you, seek out people who have been successful using that approach and learn from them by asking specific questions. Most people are more than happy to help others, they simply dislike general questions like, “What should I do now?”

Andrew Peel

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Ways To Earn Extra Money — Comments Off
21
Jan 10

How to earn extra income using free trials

This post explains that one of the ways to earn extra money is by considering the use of free trials in your marketing mix.

Ways to make extra money via free trials

Everyone who runs a home business is looking for ways of making extra income. Being an entrepreneur is about creating wealth. You will see in both on and offline marketing the regular use of discounted or trial periods to gain extra customers. Have you ever wondered why this particular ‘hook’ works? The answer may be different than you expect, it’s because of our old friend ‘predictably irrational behavior’.

How does irrational behavior make extra money at home?

So how does irrational behavior enable us to make extra money at our home business? The answer is something called “virtual ownership”. Virtual ownership is where we behave as if we own something before we actually own it.

The best example is is eBay and is the very basis of their business model. You decide you want a book however you wish to avoid paying full price, so you hop over to eBay. If you have ever placed anything for auction you will note you are always encouraged to put a good image of the item you are selling. This is so the person can see what you are selling, if the image matches what they are looking for they begin to want it.

The image starts to have a hold over them and they place a bid. You get confirmation you are the highest bidder and are happy. You check each day then on the third day you are told you are no longer the highest bidder. Most people at this point behave in a predictably irrational way. They go back to eBay and up their bid.

In fact eBay make it easy and ask you for a maximum bid and they will automatically up the bid for you if you want. The rational thing to avoid looking at the item until 2 minutes before it ends. Then see what the price is, decide if the benefit is still worth the price. If you think it is then wait until 30 seconds before the auction finishes put in your rational maximum bid and refresh the browser.

If you have lost the auction chalk it up to experience, if you have won fine. However in most cases inexperienced uses start a bidding war to early and drive the price up. They do this because in their head they already “virtually own” the item.

Free trials work in the same way. You potential business associate gets to try out the product for a period of time, with reduced functionality. If the product is value added then the person will start to “own” the product and is more likely to convert.

So you can see how a free trial which you might think would be exploited by customers can be predicted to be one of the ways to earn extra money.

Andrew Peel

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Home Internet Businesses — Comments Off
20
Jan 10

Home Internet businesses – attachment, fear and blindness to opportunity

In this article I explore what influences a person’s decision to join home Internet businesses and what it means for you as a marketer.

Work from home jobs can seem risky

It’s a fact that work from home jobs can appear risky to people who are in paid employment. Essentially people are generally motivated from early life either towards security or like to take risks. As a person who had the idea to start an Internet business you have demonstrated you are prepared to consider the risks associated with jobs from home.

What is crucial to realize is that people we meet who show an interest in our business opportunity may have values firmly rooted one way or the other. Interestingly a person at the extreme end of risky can be a difficult person to have on your direct sales team. This is because often they want to do it, ‘their way’.

The people at the extreme end of security think that people who run their own business for a living are ‘way to risky’. They can also be difficult to motivate to taking risks.

The key thing is to avoid jumping to conclusions, listen to their language and what they focus on to place them somewhere on the scale in your mind.

Even the best home based Internet jobs meet natural caution

You should believe in the business you run, that is essential to success. So even if you think it’s the best of home Internet jobs, you will often run into a natural caution from potential business partners.

The key to successfully recruiting these people to join your opportunity is to understand the three factors people use when judging whether something is worth paying the ‘price’ for. Price in this context includes time and effort as well as actual money.

The three factors are:

  • Attachment – How attached are people to their current situation. The fact they are looking at your opportunity can indicate a genuine interest or they may simply be ‘flirting’ with the idea. Your job is to sort contacts into people who are less attached to their current situation, and those who are firmly attached. Things that influence attachment are; length of time in that type of work, emotional investment in that job, whether their partner sees their current role as an important part of who they are.
  • Fear – Similar to attachment however a stronger emotion. This is how much they think they will be using by moving to the business opportunity, again tied to appetite for risk.
  • Blindness – This is the level to which they are able or unable to see the potential in your business opportunity.

How do we know this? An experiment was carried out where students who had waited a long time for limited college basket ball tickets were asked, ‘how much they would sell them for?’ The average price was $2,400; people who wanted the tickets yet were unable to get them offered to pay a maximum of $175. That’s a different of 14 – 1 in the perceived price or value of the tickets. The above three factors were identified by the students as the factors they took into account when deciding whether a price was fair.

Andrew Peel

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Work From Home Careers — Comments Off
19
Jan 10

Work From Home Careers: How to bust time wasting

Time is your most precious asset in work from home careers. This article gives you tips on how to avoid wasting it.

Why time wasting is a common problem in work from home careers

In my last post I explained that procrastination or wasting time is the reason so many people today are unable to gain financial freedom. For people whose careers involve working from home the number of potential diversions is considerable. Each one of these diversions is a potential time waster.

The first step to dealing with this problem is awareness. Awareness will allow people working from home to begin to think about self control.

Self control the secret to success in legitimate home based jobs

A key aspect to deciding which home based job to choose is to check its legitimacy. Next you should see how much they focus on improving your personal development. If they have no organized training in place then you should avoid it.

The following example shows how personal development will assist in you in the one thing that will help prevent wasting time – goal setting.

In a social experiment quoted in Predictably Irrational by Dan Ariely, students in a class were split into three groups:

  • The first group were allowed to set their own deadlines for their assignments they had to write down their deadlines in advance
  • The second group had no deadlines at all except they had to have all their work in by the end of term
  • The third group had deadlines given to them with no negotiation

Which group performed the best? The group that were given firm deadlines did the best. The group with no deadlines did the worst and the students that set their own deadlines came second.

The message for people in work from home careers is clear, even if you have no imposed deadlines on you then imposing your own is best. Working to no deadlines is a recipe for failure.

Could a large part of the reason people who stop a work from home business is because they fail to realize how irrational their behavior is? They are unaware how little self control they are exercising. In fact even when this is pointed out to them some people still choose to ‘wing it’. They see this form of planning as to close to a ‘job’ and they resist it. However the rational thing is to develop a business plan, review it and then make small corrections.

Andrew Peel

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Home Internet Businesses — Comments Off
18
Jan 10

Home Internet Businesses: Why is procrastination such a problem?

10% of North Americans have tried home Internet businesses. Research shows 5% become truly wealthy. This article aims to help you increase these chances.

Home Internet businesses and procrastination

These are statistics people considering home Internet businesses need to consider:

  • The period since the Great Depression has seen the biggest decline in personal savings
  • 25 years ago savings rates of 2 digits were normal
  • By 2006 savings rates had fallen below zero in the USA
  • Europeans and Japanese do better than the USA however the trend in parts of Europe, the UK for example is downward
  • The average American has 6 credit cards and owes $9,000
  • In 2005 6 Billion Credit Card offer letters went out in America alone

The reason for this is – ‘procrastination’. The word literally means, ‘for tomorrow’. We all know the above statistics are bad however we put off a solution until tomorrow. We also know ‘tomorrow never comes’, so the situation gets worse.

Owning a legitimate home business can help you gain financial freedom. The problem is 95% of those who start one simply stop. The main reason for stopping is procrastination. We want other things now and put more effort into acquiring them (and more debt) than running the business opportunity.

Picking the right kind of home based business

In his bestselling book The Cashflow Quadrant, Robert Kiyosaki says there are two ways to gain income:

  • Exchange labour/skills/knowledge for payment – the wage system
  • Obtain income from the work of others or investments – the business owner/investment system

My legal status is self employed for taxation purposes; I am in fact a business owner. Robert Kiyosaki says the only route to financial freedom is to move to the business owner/investment system. If you stay in the wage system someone else always controls your future. In the business owner/investor system you control your own future.

The main difference between being a home Internet business owner and being self employed is the business approach. Robert Kiyosaki says the one business that is within reach of almost everyone who has access to a computer and the Internet is direct sales.

Why is ‘direct sales’ a legitimate business?

Owning a business means you get more than one form of income. In direct sales you get commission for the products someone buys. For each person you persuade to join your team you get a monthly residual or ‘passive’ income. It’s the passive income that makes it a business together with a professional system for managing the business.

Each person that joins your team gains you more ‘leverage’ to gain more income. You are now a true business owner.

Andrew Peel

The first step to your financial freedom as a business owner in an inspirational home business opportunity is to enter your details below. In addition you will receive a free eBook to help you understand business in 2010.

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